#SyntheticStock – Rolling….picking up another 1.95 of upside. Earnings next week.
Rolled PYPL APR 20 2018 76.5 Calls to MAY 4 2018 78.5 Calls @ .05 debit
Author Archives: fuzzballl
FB
#LongPuts #LongCalls #LongLEAPStraddles – Maybe I’m bored but here we go. Already long the 2019 160 calls so on the bounce I’m buying the put side. For simplicity I’m buying the same strike to complete the straddle.
Bought to Open FB JAN 18 2019 160.0 Puts @ 11.60
After this week 39 weeks to run so needing 30 cents per week to cover. Earnings next week but unfortunately I’ll be out that day so going out the week after since it still has a little volatility pumped into it from the announcement.
Sold FB MAY 4 2018 162.5 Puts @ 3.00 (that already covers a fourth of the long put price 🙂 )
So now long Jan 2019 160 straddles against Apr 20 165 calls and May 4 162.5 puts.
Let’s see how it goes!
REGN
#ShortPuts – Sucking up a lot of buying power in an #IRA. Not going to risk a huge selloff…
Bought to Close REGN APR 20 2018 300.0 Put @ .28 (sold for 3.20)
FB
What do you guys think of this hashtag? #LongLEAPSStraddles ….LOL Considering adding long puts to my FB 2019 long calls and trading them both directions. Whiz is still bearish FB until Zuck gets replaced. Nice premium in both directions. Obviously not a directional play…just premium gathering until all risk is covered and then a nice weekly income.
ROKU
#ShortPuts #ShortStrangles – Replacing the NVDA position with this. Short term and hopefully before earnings. Stock coming out of a nice base and beautiful squeeze. Might add calls if it stays strong….
Sold ROKU MAY 4 2018 34.0 Puts @ 1.00
NVDA
#ShortStrangles – Book ’em and get ready for earnings in a few weeks…
Bought to Close NVDA APR 27 2018 195.0/250.0 Strangles @ .81 (sold for 5.88)
Have a great day!
Out all day today but looks like a nice volatility drop to start the week. Wouldn’t have much to do anyway so going to the real job. Back in tomorrow.
Great trading everyone!
Expirations
#OptionsExpiration – Actually had a couple today….
AZO 640/670 BeCS (sold for 2.65)
OLED 103 Calls (sold for 1.95)
AAOI
#ShortStrangles #SyntheticStock – Adjusting to protect myself against some sort of a crazy buyout. Short next week’s 27/31 Bear Call Spreads. Stock has rallied so booking the gains on the long 31’s and buying more calls out and up. Pocketing the difference and maybe using that to finance the 27 roll.
Sold to Close AAOI APR 20 2018 31.0 Calls @ .70
Bought AAOI JUN 15 2018 50.0 Calls @ .35
UVXY
#BearCallSpreads – Taking weekend risk off and freeing up buying power for the next spike.
Bought to Close UVXY APR 20 2018 24.0/34.0 Bear Call Spreads @ .08 (sold for .79)
Bought to Close UVXY APR 20 2018 25.0/35.0 Bear Call Spreads @ .06 (sold for .65)
Goodbye CRUS hello SMH
#SyntheticStock #LongCalls #LEAPS – Here’s what I finally decided. The more I trade these types of things the more I like the ETFs vs individual stocks and the straight LEAPS vs synthetic stock if the premium is worth it.
Closed my half size position in CRUS at a loss of 1.50. Taking a full size SMH position (twice the CRUS size) out in 2020 so I’ll roll the .75 loss into the new SMH trade.
Bought to Open SMH JAN 17 2020 105.0 Calls @ 14.80 (15.55 with CRUS loss added)
That is my max risk in the trade with 92 weeks to run requires 17 cents per week to cover.
So:
Sold SMH APR 20 2018 106.5 Calls @ .72
I feel much better about this now vs the CRUS trade. Thought about holding CRUS since it was getting closer to even but figured I’d s**t can it and just concentrate on the SMH position.
FAS
#LongCalls #LEAPS – This was a fun one. Market doesn’t exactly seem thrilled with the banks so far so I’m staying aggressive into next week too. Already collected 4.70 of the original 10.50 cost of the LEAPS. 3 weeks into the trade with 39 to go.
Bought to Close FAS APR 13 2018 65.0 Calls @ .07 (sold for 2.15)
Sold FAS APR 20 2018 63.5 Calls @ 1.80
SMH
#SyntheticStock #LongCalls #LEAPS – Really like the looks of this one for a long term position. Haven’t decided yet since I’m already in CRUS but definitely one to keep an eye on if it pulls back again. I missed it on that last drop to near the 200ma. Almost feel like I have to take a shot. 2019 105s would only need 23 cents per week to cover.
SLB
#SyntheticStock – Earnings next week so I’m trying to give it a little room. If it tanks I’ll roll back in and down.
Rolled SLB APR 13 2018 65.5 Calls to MAY 4 2018 67.5 Calls @ .16 debit (originally sold for .61)
PYPL TLT
Lots of fills coming in….
PYPL #SyntheticStock : Rolling out and up one week into the week prior to earnings.
Rolled PYPL APR 13 2018 76.0 Calls to APR 20 2018 76.5 Calls @ .30 credit
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TLT #PerpetualRollingStrangles :
Rolled TLT APR 13 2018 120.5 Calls to APR 27 2018 121.5 Calls @ .05 credit
OLED
#SyntheticStock – An old earnings gone bad repair trade…needs 99 cents per week. Replacing this week’s expiration. Earnings May 3rd so staying aggressive until then.
Sold OLED APR 20 2018 103.0 Calls @ 1.58
AZO
#BullCallSpreads – Letting this week’s expire so selling next week…cost basis reduction in the Jan Bull Call Spread…long spread is out in Jan with basis already reduced from 26.30 to 9.23.
Sold AZO APR 13 2018 625.0/650.0 Bear Call Spread @ 2.25
FB
#LongCalls #LEAPS – Roll out and up a week. Still a week before earnings…
Rolled FB APR 13 2018 162.5 Calls to APR 20 2018 165.0 Calls @ .50 credit
XBI
#SyntheticStock – A little tougher to roll being 4 dollars in the money. Taking it out to May monthlies. Already collected decent premium against it so don’t mind letting it sit on the back burner for awhile. If XBI tanks I’ll roll it back in and down.
Rolled XBI APR 13 2018 86.0 Calls to XBI MAY 18 2018 88.0 Calls @ even (originally sold for 1.05)
XLY
#SyntheticStock – No time premium left in these so a small debit roll out one week picking up 90 cents of upside.
Rolled XLY APR 13 2018 100.5 Calls to APR 20 2018 101.5 Calls @ .10 debit (originally sold for .93)
VXX
#BearPutSpreads – I’ve been selling against my Jan 2019 50/30 Bear Put Spreads….trying to gradually cover the debit. Volatility trying to come down a little so I’m getting out of the way for awhile. Small loss here but the original debit has already been reduced from 12.15 to 11.65. Only need VXX below about 38.35 by next Jan.
Bought to Close VXX APR 13 2018 46.0 Puts @ .76 (sold the 46/41 spreads @ .63)
Of course I’m early…VXX heading back up now… 😦
CELG
#SyntheticStock – In an #IRA so have to cover this week before selling next week.
Bought to Close CELG APR 13 2018 92.0 Calls @ .05 (sold for .50)
Sold CELG APR 20 2018 92.0 Calls @ .70
This more than covers the cost of the core position so working to cover max loss now. Wish I had more time but this was an experimental shorter term out to July.
Also in a different account early assigned on a 100 strike short put. Stock basis 97.80. Will be looking to sell against eventually. Earnings on May 4th before the open.
REGN
#SyntheticStock – Another week…killing time waiting for the real bounce. Earnings on May 3rd….
Bought to Close REGN APR 13 2018 340.0 Calls @ .30 (sold for 2.85)
Sold REGN APR 20 2018 337.5 Calls @ 2.20
TQQQ
#LongCalls #LEAPS #BullCallSpreads – Thanks @jsd501 for the nice reminder on this ticker. Great premium for setting up a longer term position. As an experiment, I’m buying the Jan 2020 call spreads 100 points wide. TOS is showing an expected move of +/- of 100 points out to 2020. This reduced my entry cost (but caps long term profits).
Bought to Open TQQQ JAN 17 2020 150.0/250.0 Bull Call Spreads @ 28.30
92 weeks for the trade to run so only need 31 cents per week to cover the cost. Goal is to get it covered much sooner and keep selling against the position.
So:
Sold TQQQ APR 20 2018 155.0 Calls @ 3.30
LUV
#SyntheticStock – Trying to squeeze one more in before earnings…
Bought to Close LUV APR 13 2018 56.0 Calls @ .05 (sold for .68)
Sold LUV APR 20 2018 55.0 Calls @ .57 (filled one at .60 and the rest at .57)
AAOI
#HolyCrap – Am I seeing that right? LOL
CRUS
#LongCalls #IRA – Another week in the books selling against Jan 2019 45.0 calls. This particular position was started Feb 28 for 6.90 requiring 15 cents per week to cover. Already recovered 2.55 after today’s sale. The stock has dropped almost from the very beginning but overall showing only a small loss.
At this pace the calls will be completely paid for by the end of May leaving 7 more months of selling that will go straight to the bottom line. I’m not sure how it will work out but it seems like it would be fun to have a bunch of these with the calls completely covered with every sale after that being pure profit. If the stock is way down at the point the calls finally get paid off it would be a trade similar to what Jeff does with UVXY. He buys way OTM LEAP calls and then sells shorter term against those.
After having a mixture of synthetic and long call positions, I’m starting to lean towards just the long calls. Simpler to see exactly where you stand and less slop when trying to finally book the position.
Bought to Close CRUS APR 13 2018 40.5 Calls @ .05
Sold CRUS APR 20 2018 39.5 Calls @ .45
FB
Looks like the market is happy with the testimony so far…
/ES Hedge
#ButterflyHedge – Just for fun…centering it down near last week’s lows expiring this Friday…
Bought to Open BUTTERFLY /ES APR 18 (Wk2) 2560/2550/2540 PUT @ .35
I did it 5 times risking 90 to make 2400
FB
#LongCalls – I agree with Whiz and @jsd501 . Facebook isn’t going out of business any time soon and premiums are fantastic. Going with the basic long calls and selling against them. Only 1.50 more out of pocket up front but a 2.70 less max loss vs the synthetic.
Bought to Open FB JAN 18 2019 160.0 Calls @ 18.50
Only going out to Jan 2019 so 41 weeks to cover max loss requires 45 cents per week. This particular trade doesn’t even seem that directional. With the premiums available (Zuck testifying and earnings approaching) a big chunk of this will be recovered in the first 3 weeks. Even at just a dollar a week the trade makes 22.50.
So:
Sold FB APR 13 2018 162.5 Calls @ 1.64
Synthetic Thoughts
FWIW…just some random things going through my mind (scary, I know!) concerning these longer term positions I’ve been trading.
1. If the stock implodes just after setting the trade the overall position will show a big loss initially. As time goes by, further drops won’t be quite as extreme.
2. What will a synthetic look like at expiration if it’s sitting at max loss? Correct me if I’m wrong:
Long call will be at zero and the short put and disaster put will be showing a loss equal to their width.
3. By using 2 above, I can calculate how much more possible downside is sitting in the current position….if you want to assume the worst that we wake up tomorrow and the market has sold off so far that all synthetics immediately go to max loss…and can my account handle that?
4. How would I handle a worse case scenario whipsaw near the end of the trade that results in the weekly short calls being well in the money but below the core at expiration? Chances are if it gets to that point there’s a ton of profit realized already. I could take the loss on the short calls and move on down the road or…what I would probably do is roll the calls up and out and set up a new synthetic and start all over since the stock could be recovering at this point.
5. I’ve looked around online and there are lots of sites talking about the LEAP diagonals but most only concern themselves with just selling monthlies and if you’re wrong on the direction to just take the losses and look for something else. Can’t find anyone talking about selling weekly for the entire duration and the profit potential of that. Maybe I’m missing something…
Good luck everyone!
FB
Ol’ Whiz had been calling for a Facebook implosion for quite awhile. His latest update though has a switch in his longer term sentiment on it. He’s saying a longer term position could be worthwhile now since he’s predicting “The Zuck” is going to resign and take a token position in the company and they’ll bring someone new in to take over the reigns. This will all be good for the company and possibly get them out of the daily news cycle…(worked for WYNN I guess…LOL).
I may take a shot…possibly synthetic but more than likely just buying some 2019 LEAPS and sell weekly against them. Premiums are great and shouldn’t take any time at all to recover the initial investment then everything else through the end of the year is pure profit.
#BullCallSpreads – Thanks @mortlightman and…
#BullCallSpreads – Thanks @mortlightman and @Jeff for the idea. Made 1.30 on the last one so re-loading here…
Bought to Open SPX MAY 18 2018 2780.0/2800.0 Bull Call Spread @ 1.50
SLB
#SyntheticStock – 65’s expiring today (sold for .90). Replacing those with next week with earnings the following week.
Sold SLB APR 13 2018 65.5 Calls @ .61
CELG
#SyntheticStock – Selling below the July core so trying to stay cautious. Replacing this week’s 90/95 BeCS expiration.
Switching back to naked and selling right at the descending 50ma.
Sold CELG APR 13 2018 92.0 Calls @ .50
TLT
#PerpetualRollingStrangles – Was a little early but another good week for this one…
Bought to Close TLT APR 6 2018 121.0 Calls @ .15 (sold for .70)
Sold TLT APR 13 2018 120.5 Calls @ .56
DG
#SyntheticStock – Another small roll…
Rolled DG APR 6 2018 93.0 Calls to APR 20 2018 94.0 Calls @ .10 debit
EWW
#SyntheticStock – Trying to keep these rolls to within a couple weeks even if it’s a small debit. Plenty of weekly premium brought in recently to use a little for the roll.
Rolled EWW APR 6 2018 51.0 Calls to APR 20 2018 51.5 Calls @ .08 debit
XOM
#SyntheticStock – Rolling the weekly out and up. Small debit but picking up another 71 cents of upside while staying in the week prior to earnings.
Rolled XOM APR 6 2018 74.0 Calls to APR 20 2018 75.0 Calls @ .29 debit (originally sold for .60)
LUV
#SyntheticStock – Since I already sold next week I’m booking these just for safety. Another big up day tomorrow and the position would end up way too short…
Bought to Close LUV APR 6 2018 57.5 Calls @ .21 (sold for .54)
AZO
#BullCallSpread – Rolling the short call side down into strength for a nice credit. Narrowing the spread from 100 to 50. Getting close to a freebie with weekly sales against.
Rolled AZO JAN 18 2019 760.0 Call to JAN 18 2019 710.0 Call @ 14.30 credit
Position is now:
Jan 2019 660/710 BuCS @ 11.50 debit
XBI
#SyntheticStock – Looks like it’s easing below the 200ma so I’m selling just above it…
Bought to Close XBI APR 6 2018 89.0 Calls @ .06 (sold for .83)
Sold XBI APR 13 2018 86.0 Calls @ 1.05
AZO
#BullCallSpreads – Letting this week’s expire so selling next week…cost basis reduction in the Jan Bull Call Spread…
Sold AZO APR 13 2018 640.0/670.0 Bear Call Spread @ 2.55
REGN
#SyntheticStock – With the weak market I’m rolling this thing back in and down. Hopefully can get it off the books a week sooner freeing up an extra sale.
Rolled REGN APR 20 2018 350.0 Calls to APR 13 2018 340.0 Calls @ .36 credit
TSLA
#ShortStrangle – Had a one lot strangle where I closed the put side as the stock started imploding. Continuing to sell the call side while waiting to add the put side back in at some point.
Sold TSLA APR 13 2018 290.0 Call @ 1.45
PYPL
#SyntheticStock – Going out another week…
Bought to Close PYPL APR 6 2018 78.5 Calls @ .05 (sold for .80)
Sold PYPL APR 13 2018 76.0 Calls @ .94
LUV
#SyntheticStock – Order in to cover this week’s at a nickel. Selling next week into the tiny up move…
Sold LUV APR 13 2018 56.0 Calls @ .68
VXX
#BearPutSpreads – Selling against my Jan 2019 50/30 Bear Put Spreads….trying to gradually cover the debit.
Sold VXX APR 13 2018 46.0/41.0 Bull Put Spreads @ .63
OLED
#SyntheticStock – Selling well below the core but still bringing in enough to cover the repair of an old earnings strangle. Double sale with this week’s still running…
Sold OLED APR 13 2018 103.0 Calls @ 1.95
CRUS
#SyntheticStock #LongCalls – If I can close for a nickel on Mon or Tue and get next week’s sale going it’s well worth it to pay up I think…
Bought to Close CRUS APR 6 2018 43.5 Calls @ .05 (sold for .50)
Sold CRUS APR 13 2018 40.5 Calls @ .65
XLY
#SyntheticStock – I’m going to keep aggressively selling the rips for at least another week especially while premiums are so juicy…
Bought to Close XLY APR 6 2018 103.5 Calls @ .05 (sold for .73)
Sold XLY APR 13 2018 100.5 Calls @ .93
UVXY
#BearCallSpreads – Going up and out to Sep for this one…
Sold UVXY SEP 21 2018 30.0/40.0 Bear Call Spreads @ 1.20
Happy Easter!
Enjoy the long weekend everyone! Resting up…16 underlyings with expirations next week. Gonna be fun!
VXX
#BullPutSpreads – Closing the short side of BuPS sales that I sold to finance Jan 2019 BePS. I’ll leave the long side and maybe get lucky next week.
Bought to Close VXX APR 6 2018 40.5 Puts @ .05 (sold spread for .47)
REGN
#SyntheticStock – Been selling against this all the way down. It’s in a squeeze and attempting to get off the ground but seems to get rejected right around this level each time. Rolling up and out a little for now…
Rolled REGN APR 6 2018 340.0 Calls to APR 20 2018 350.0 Calls @ .40 credit
AZO
#BullCallSpreads – Letting this week’s expire so selling next week…cost basis reduction in the Jan Bull Call Spread…
Sold AZO APR 6 2018 660.0/690.0 Bear Call Spread @ 2.50
XBI
#SyntheticStock #IRA – Thanks @1strangealien for getting this one back on my radar. I’ll take a shot out in Jan.
Bought to Open XBI JAN 18 2019 88/88/86 Synthetic Stock @ 7.69 (filled better than mid)
Max loss of 9.69 with 42 weeks to run requiring 23 cents per week to cover.
So:
Sold XBI APR 6 2018 89.0 Calls @ .83
FAS
#SyntheticStock – Getting the next sale going. Going out two weeks to give it a little room with much better premium with bank earnings cranking up. JPM on the 13th and MS GS and BAC the following week so premiums should be pretty sweet that week too.
Bought to Close FAS MAR 29 2018 65.5 Calls @ .03 (sold for .85 as a bonus week 🙂 )
Sold FAS APR 13 2018 65.0 Calls @ 2.15
LUV
#SyntheticStock – Looks safe this week so selling next week on this tiny pop…
Sold LUV APR 6 2018 57.5 Calls @ .54
XOM
#SyntheticStock – Next week’s sale…still a weak looking chart but starting to form a nice squeeze. Gonna see if I can “squeeze” in one more aggressive weekly before this thing rebounds and runs to glory (or not 🙂 ). Jumped the gun on it…could do a little better now.
Sold XOM APR 6 2018 74.0 Calls @ .60
XOM
#SyntheticStock – Right at the bell…no time to sell next week.
Bought to Close XOM MAR 29 2018 74.5 Calls @ .03 (sold for .48)
EWW
#SyntheticStock – Core position is all the way out to 2020 requiring .10 per week to cover max loss. Weak market so I will continue aggressive selling. Pretty good weekly income while it grinds around. Gonna throw this out as an example of how I’m trying to keep the big picture on how these will hopefully turn out some day.
10 lot Jan 2020 48/48/46 synthetic with max loss now reduced to about 8900. That’s actually a little high too since I rolled a small loss on a strangle into the synthetic cost.
30 cents per week in sales for the next 94 weeks brings in 28200. Assuming max loss then total gains are 19300. Over two years against 3800 in margin is about 150 percent annualized on margin. These are rough numbers but still something to keep in mind looking on down the road. Do that in 10 different underlyings and you’ve got a pretty good annual income that’s (hopefully) low risk. Running the numbers for 40 cents per week and 50 cents per week really starts getting interesting especially when factoring in the possibility of not taking max loss!
It’s tough watching the drawdowns when the core is getting hit but looking out further helps a lot. If the stock tanks right after you set the trade the drawdown will be pretty tough to watch but realizing it is capped with plenty of time to continue selling helps a lot. Adding up the max loss on all the positions is a nice way to figure out what your absolute bottom could look like overall also. Knowing this will help control position size. Each weekly sale over and over again reduces that ultimate max drawdown number.
Bought to Close EWW MAR 29 2018 51.5 Calls @ .03 (sold for .40)
Sold EWW APR 6 2018 51.0 Calls @ .50
TQQQ
#ShortPuts #IRA – Thanks again @jsd501 …..
Sold TQQQ MAY 18 2018 80.0 Put @ 2.00
Sold TQQQ SEP 21 2018 80.0 Put @ 6.50
NVDA
#ShortStrangles – Rolling the call side down to near all time highs for additional credit…
Rolled NVDA APR 27 2018 265.0 Calls to APR 27 2018 250.0 Calls @ 1.73 credit
TSLA
#ShortStrangles – Even though it’s only a one lot strangle, I’m going to play it cautiously. Closing the short put and will continue to sell calls or call spreads to get back to even as long is the stock is below about 300. Could be setting myself up for a whip saw but there’s no telling how low it can go. Once a little bit of good news comes out I may start selling the put side again.
Bought to Close TSLA APR 27 2018 312.5 Put @ 54.90
Sold against next week’s 300 call. Total premium received so far of 22.65.
CELG
#SyntheticStock – Getting a jump start on next week’s sale. Haven’t close this week’s yet and since it’s in an IRA I’ll need to sell a spread instead. Trade is a shorter one only out to July. Sitting well below the core and needing 36 cents per week to cover max loss.
Sold CELG APR 6 2018 90.0/95.0 Bear Call Spreads @ .53
TSLA
#ShortStrangle – Rolled the put side out and down yesterday. Selling calls against it….with 5 or 6 dollars a week available on the call side the put shouldn’t get hurt too badly.
Bought to Close TSLA MAR 29 2018 305.0 Call @ .80
Sold TSLA APR 6 2018 300.0 Call @ 6.05
Position is Apr 6 300 call and Apr 27 312.5 put @ 22.65 credit
Stock gets in between the strikes again then that’s good. Stock keeps dropping then my basis on the short put is 289.85 with 3 more weeks to sell before deciding on the put.
NVDA
#ShortStrangles – Been looking to get back in this thing. Self driving technology put on hold temporarily is the rumor. Selling strangles 30 days out and before earnings. Puts below the 200ma and calls well above all time highs.
Sold NVDA APR 27 2018 195.0/265.0 Strangles @ 4.15
UVXY
#BearCallSpreads – A small one out to April…
Sold UVXY APR 20 2018 24.0/34.0 Bear Call Spreads @ .70
TLT
#PerpetualRollingStrangles – Just to give it a little more room….
Bought to Close TLT MAR 29 2018 120.5 Calls @ .31 (sold for .62)
Sold TLT APR 6 2018 121.0 Calls @ .40
FAS
#SyntheticStock #LongCalls – With my margin hog AMZN position out of the way now it’s time to start looking for new opportunities. I’d like to stay involved in the banks so this seems like a good way to do it. Wasn’t having much luck out in 2020 with the market makers for a 2 strike wide synthetic. Instead, just going to Jan 2019 and buying the straight calls. (only 5 wide strikes in 2019 anyway). As @hcgdavis pointed out, the weekly premium is really nice in this ticker.
Bought to Open FAS JAN 18 2019 65.0 Calls @ 10.50
Max loss of 10.50 with 42 weeks to run so need 25 cents per week to cover.
So: (premiums are so good that this is a freebie. 42 weeks to go is AFTER this week…crazy!)
Sold FAS MAR 29 2018 65.5 Calls @ .85
XLY
#SyntheticStock – With my margin hog AMZN position out of the way now it’s time to start looking for new opportunities. Whiz pointed this one out the other day. AMZN is a big chunk of it so a cheaper way to stay involved. Pretty nice weekly premium as well.
Bought to Open XLY JAN 18 2019 102/102/100 Synthetic @ 6.50
Max loss of 8.50 with 42 weeks to run so need 20 cents per week to cover.
So:
Sold XLY APR 6 2018 103.5 Calls @ .73
SLB
#Earnings – For anyone trading along in this, the earnings date is now confirmed for Apr 20th. I’ll be trying to keep all the weekly sales prior to that and then decide whether to sell, close, or sit out the announcement.
First one in my current positions list to confirm a date…
TSLA
#ShortStrangles – Fun little single contract position I’ve been playing with….rolling every week to inverted or straddle or strangle or whatever is needed.
Currently sitting at this week’s 332.50/305.00 Inverted @ 17.40 total premium
Weekly premium is through the roof so taking a more traditional approach. Rolling the put side out and down to what I hope is just prior to earnings. Letting this week’s short call side hopefully expire and then continuing the weekly call sales against the short put.
Rolled TSLA MAR 29 2018 322.5 Put to APR 27 2018 312.5 Put @ .40 debit
DG
#SyntheticStock – This week’s 95.5s look safe so adding next week’s sale into the pop.
Sold DG APR 6 2018 93.0 Calls @ .95
Options Bistro 