Some bad news….50 share lots @ 103.65, 100.50, and 95.50 yesterday. Not much you can say…treat it as a little drawdown and work on getting it back.
Author Archives: fuzzballl
EWW
#SyntheticStock – Rolled weekly to maintain positive delta. If the delta approaches zero again I’ll consider booking the winner.
Rolled Feb 50 to Mar 51 @ .10 credit
SVXY
#ShortCalls – Some good news…
Bought to Close SVXY FEB 9 2018 124.0 Calls @ .01 (sold for .80)
Bought to Close SVXY JAN 18 2019 260.0 Calls @ .01 (part of a strangle sold for 6.45 I’ll apply to a 45 strike put basis)
XIV…back from the dead?
Hmmmm….
Good luck everyone!
I’ll be out for a lot of the week visiting family. Will be monitoring but not posting much. Letting synthetic weekly sales expire and sitting tight for now. Have fun!
SVXY
#SyntheticStock – Taking a nibble at the 80 level for Jan 2019. Averaging down from earlier positions..
80/80/77.50 @ 25.50
Max loss 28.00 with 50 weeks so min sale required of .56. No weekly sale yet…
XIV
#Stock – Bought tiny lots at 103.65, 100.50, and 95.50. Was hoping for more…
Overall…
#SyntheticStock positions actually holding up pretty nicely for now. Take out REGN and SVXY and it’s a flat day in main account. AAPL, AAOI, ADSK, and EWW green today. Crazy!
SPX
#RocketManHedge – Let’s see if this works…rolling my weekly out to end of year and low as possible. Let the hedge ride as long as we are below the 50ma. When it recovers above the 50ma book the big profit on the hedge and start selling calls against the short LEAP put. Position size is what allows this…April hedge is up 85 points with the weekly cleared out…
Rolled this week’s short put to SPX DEC 31 2018 2500.0 Put @ 2.20 credit
UVXY
#VXXGame – Darn it…can’t resist. Margin free against my short Jan 2020 5 strike puts.
Sold UVXY JUN 15 2018 60.0 Call @ 3.50
/VX
#VXXGame – Instead of naked shorting UVXY, (I remember 2015 too well) I’m going with this along with the VIX call spreads I’m trying to add to. Going out a couple months where the moves are less volatile.
SOLD /VXJ8 @ 16.05 (April)
SVXY XIV
Pretty impressive drops…just like the good ‘ol days. Tempted to start accumulating some XIV as it drops. Can’t trade SVXY in the 401k…
GWW
#ShortPuts – Thanks @Option Iceman
Sold 1 GWW JUL 20 2018 200.0 Put @ 4.30
@fibwizard…you out there ?
What’s the crystal ball showing for the open? We get a bounce and then sell or she gonna tank from the start?
WYNN ISRG
#ShortPuts #ShortStrangles – Closed a couple naked positions today even though they were holding up ok. Out of both at even just for risk management…
UVXY
#IRA – Sold UVXY JUN 15 2018 25.0/35.0 Bear Call Spreads @ .80
SVXY
#SyntheticStock – Only selling the minimum required to cover max loss if the trade runs the duration…
Bought to Close SVXY FEB 2 2018 120.0 Calls @ .10 (sold for 1.22)
Bought to Close SVXY FEB 2 2018 128.5 Calls @ .10 (sold for .93)
Sold SVXY FEB 9 2018 124.0 Calls @ .80
SPX
#RocketManHedge – Easing the weekly down for now picking up another 6.40 of downside…
Rolled SPX FEB 2 2018 2820.0 Put to FEB 7 2018 2815.0 Put @ 1.40 credit
AAPL Earnings
#Earnings – Giving these a little time to recover before converting to synthetic…
Rolled AAPL FEB 2 2018 170.0 Put to MAR 9 2018 167.5 Put @ .35 credit
Rolled AAPL FEB 2 2018 167.5 Put to MAR 9 2018 165.0 Put @ 1.22 credit
LUV
#SyntheticStock – Replacing this week’s expiration…
Sold LUV FEB 16 2018 60.0 Calls @ 1.00
NUGT
#SyntheticShortStock – Rolling weekly out and down a little picking up another 2.05 of downside on what is only about a 75 percent hedge of overall short.
Rolled NUGT FEB 16 2018 32.0 Puts to NUGT MAR 16 2018 30.0 Puts @ .05 credit
TLT
#SyntheticShortStock – Rolling weekly out and down a little picking up another .85 of downside…
Rolled TLT MAR 2 2018 122.0 Puts to TLT MAR 23 2018 121.0 Puts @ .15 debit
AAPL Earnings
#Earnings – Peeling one off for a small winner. Still 2 more out there. I’ll roll ’em or close ’em and go synthetic. A little AAPL rally wouldn’t break my heart.
Bought to Close AAPL FEB 2 2018 165.0 Put @ 1.55 (sold for 2.00)
SVXY
#IRA – Rolling out and down to the next available rung in the ladder…
Rolled SVXY FEB 2 2018 120.0 Put to SVXY MAR 9 2018 115.0 Put @ 5.25 credit (7.55 total premium now)
MAT
#SyntheticStock – Just a quickie taking advantage of the bounce. Not sure why it’s bouncing since it missed earnings and was down all night but I’ll take it.
Sold to Close Jul 2018 16/16/14 synthetic stock / disaster put
Bought to Close Feb 2nd 16 call
Net gain of .88 per contract….
UVXY
#ShortStrangles – Clearing out some long term shorts that have pretty much quit moving (at least until the next split). Going to use spreads but re-position in closer for now.
Bought to Close UVXY JAN 18 2019 5.0/15.0 Bear Call Spreads @ 2.39 (sold for 4.75)
Bought to Close UVXY JAN 18 2019 10.0 Call/25.0 Bear Call Spreads @ 2.10 (sold for 4.90)
AMZN
#SyntheticStock – Was going to wait until after earnings but taking advantage of this little whoosh down to get the credit roll of my weekly.
Rolled AMZN FEB 16 2018 1210.0 Call to AMZN MAR 16 2018 1220.0 Call @ 1.10 credit.
Picking up another 11.10 of upside…
AMZN Earnings
#Leak ? 🙂 That’s not possible!
GS
#SyntheticStock – Textbook pop out of a nice squeeze. Actually gave it some room with the first weekly sale. 9 days so booking and looking to reset on any weakness.
Sold to Close GS Jan 2019 260/260/250 synthetic stock
Bought to Close GS Feb 2018 275 calls
6.17 per contract net gain…
PYPL
#Earnings repair trade with #SyntheticStock – Well…the put sales were looking ok until the Ebay announcement came out so we’re now in repair mode with this one. I really thought the stock would be down even further so not bad so far.
The put sales brought in 600 and the cost to close was 2330 for net loss of 1730. I’ve set up a synthetic with 10 contracts so I’ll add 1.73 to my total cost of the position.
Sold PYPL JAN 18 2019 80.0 Puts @ 9.47
Bought PYPL JAN 18 2019 80.0 Calls @ 10.28
Bought PYPL JAN 18 2019 77.5 Puts @ 8.64
This gives a net debit of 9.45 for the Jan 2019 position. Add the 2.5 point max downside and the 1.73 put sale loss and get a max loss possibility of 13.68. Based on that, and the 50 weeks remaining in the trade I only need to average about 27 cents per week in sales to cover the absolute worst case scenario.
So:
Sold PYPL FEB 9 2018 81.5 Calls @ .77
BABA Earnings
#Earnings -Bouncing now but order filled before I could get to it. Breakeven after commissions…
Bought to Close BABA FEB 2 2018 195.0 Puts @ 1.95 (sold for 2.00)
But…the selling is good for my synthetic with weekly call sale ITM…
FB Earnings
#Earnings – I’ll take this as a gift based on the initial reaction of the stock. Zuck bailed us out on the conference call…
Bought to Close FB FEB 2 2018 177.5/202.5 Strangles @ .17 (sold for 2.20)
PYPL Earnings
#Earnings – Great timing…LOL
Plan for now is to close the short puts (depending on how the open goes). Then…open synthetic stock positions in EBAY and PYPL out to next Jan. Should only add a few pennies to the weekly sales requirement to cover it.
We shall see….
FB
SPX
#RocketManHedge – Great market for these…double dip selling Friday.
Bought to Close SPX JAN 31 2018 2820.0 Put @ 0.30 (sold for 5.00)
Sold SPX FEB 2 2018 2820.0 Put @ 7.00
PYPL Earnings
#Earnings – Wouldn’t mind getting into #SyntheticStock on a pullback so aggressively selling half size here. Maybe get lucky and it takes off, otherwise double up and load up lower.
Sold PYPL FEB 2 2018 85.0 Put @ 1.92
Sold PYPL FEB 2 2018 84.0 Put @ 1.50
Sold PYPL FEB 2 2018 83.0 Put @ 1.13
Sold PYPL FEB 2 2018 82.0 Put @ 0.86
Sold PYPL FEB 2 2018 81.0 Put @ 0.64
AAPL Earnings
#Earnings – Earlier in the week sold some fairly aggressive puts at 170, 167.5, and 165 bringing in nice premium. Just to make sure I have a reasonable starting point to enter a synthetic stock position if it tanks, I’m using a small portion of the premium received to buy some protection down at a twice the expected move level. I wouldn’t think it would ever go that low but then again I didn’t think I’d be running from hurricane IRMA for 10 days either…LOL Buying a little insurance while the sun is shining… 🙂
Sold 3 puts originally and buying 5 puts here.
Bought AAPL FEB 2 2018 155.0 Puts @ .27
AMD Earnings
Breakeven after commissions…
Bought to Close AMD 12/12.5/13/13.5 iron flies @ .40 (sold for .44)
WYNN
#ShortStrangles – Going in again after booking yesterday. Re-centering below the 200ma and near all time highs…
Sold WYNN MAR 9 2018 140.0/195.0 Strangles @ 2.38
JNPR
#Earnings – Nice pullback after hours. Could be one to consider tomorrow…
AMD Earnings
#Earnings – Selling tight iron fly…
Sold 12.5/13/13.5 @ .44 (risk 6 to make 44)
SVXY
#SyntheticStock – These are very low margin and low risk. Adding one or two more about every 20 point drop for now.
Added Jan 2019 115/115/112.5 Synthetic @ 34.50
37 max loss with 51 weeks to go. Need .73 per week for worse case so:
Sold Feb 2nd 120 calls @ 1.22
SVXY
#ShortPuts – Sold 1 SVXY APR 20 2018 70.0 Put @ 3.52
TLT
#SyntheticShortStock – Small roll of the weeklies…
Rolled TLT FEB 16 2018 122.5 Puts to TLT MAR 2 2018 122.0 Puts @ .12 credit
MU
#SyntheticStock – Aggressive sale so if these catch any heat my AAPL should be looking good…
Bought to Close MU FEB 2 2018 44.5 Calls @ .18 (sold for .60)
Sold MU FEB 9 2018 43.0 Calls @ .98
NUGT
#SyntheticShortStock – Only hedged on half the core but rolling it down a little anyway…
Rolled NUGT FEB 9 2018 32.5 Puts to NUGT FEB 16 2018 32.0 Puts @ .14 credit
WYNN
#ShortStrangles – Nice gain in 24 hours…I’ll book it.
Bought to Close WYNN FEB 16 2018 140.0/180.0 Strangles @ 2.29 (sold yesterday for 3.95)
/VX VIX Futures
#Futures – Scalp good for a half point…
Sold /VXG8 @ 14.25
Bought /VXG8 @13.75
URI Earnings
#Earnings -Missed my chance to close this a couple days ago. Unloading it here for breakeven and covering commissions…
Bought to Close URI FEB 9 2018 172.5 Puts @ 2.20 (sold for 2.25)
NFLX
#ShortStrangles – Let’s see if the gap holds…
Sold NFLX FEB 16 2018 260.0/340.0 Strangles @ 3.30
CELG
#SyntheticStock – Saw it on @smasty ‘s update and like the looks of it. Nice income and a tight squeeze also. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold CELG JUL 20 2018 105.0 Puts @ 9.08
Bought CELG JUL 20 2018 105.0 Calls @ 8.28
Bought CELG JUL 20 2018 100.0 Puts @ 6.65
This gives a net debit of 5.85 for the Jul 2018 position. Add the 5 point max downside and get a max loss possibility of 10.85. Based on that, and the 24 weeks remaining in the trade I only need to average about 45 cents per week in sales to cover the absolute worst case scenario.
So:
Sold CELG FEB 9 2018 106.0 Calls @ 1.11
WYNN
#ShortStrangles – IV still hanging in there. I’ll take a starter to see where it goes…
Sold WYNN FEB 16 2018 140.0/180.0 Strangles @ 3.95
SVXY
#SyntheticStock – Going for a double dip this week…
Bought to Close SVXY FEB 2 2018 138.0 Call @ .05 (sold for 1.80)
Bought to Close SVXY FEB 2 2018 136.0 Calls @ .09 (sold for 1.40)
Sold SVXY FEB 2 2018 128.5 Calls @ .93
AAOI
#SyntheticStock – Added a synthetic stock position on Friday (Jan 2019 35/35/30) and still keeping my other repair trade. Any decent bounce and maybe I can get out of this sooner. Not happening today though…
Bought to Close AAOI FEB 2 2018 37.5 Calls @ .05 (sold for .35)
Sold AAOI FEB 9 2018 35.0 Calls @ .60
AAPL earnings
SPX
#RocketManHedge – Posting from seat 14F somewhere above and slightly west of @Iceman … 🙂
This sale insures a breakeven on my March hedge….still may eventually roll it around a little more to possibly make a buck or two…
Bought to Close SPX JAN 31 2018 2750.0 Put @ .30 (sold for 3.70)
Sold SPX MAR 16 2018 2725.0 Put @ 13.50
Expiration
#OptionsExpiration – Same as last week…LOL
Sizable position so letting it run the distance.
HIMX 10.5 calls (sold for .32)
ISRG
#ShortPuts – Just staying involved in this one…
Sold 1 ISRG MAR 16 2018 370.0 Put @ 2.60
WYNN
#ShortPuts #IRA – Sold WYNN JAN 18 2019 100.0 Put @ 2.45
WYNN
Uh oh…glad I got out. Could be a great opportunity though. Steve Wynn getting a little handsy.
AAOI
#ShortStrangles – Still chugging along in the repair trade. For the first time in months I’m actually having to roll up and out. Earnings not until Feb 21.
Rolled Jan 26 34.5 calls to Feb 9th 35.5 calls @ .37 credit
MU
#SyntheticStock – Joining in on this popular ticker. Thanks @mortlightman for the reminder this morning. Saw it on @smasty ‘s update last night too but forgot. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold MU JUL 20 2018 43.0 Puts @ 4.73
Bought MU JUL 20 2018 43.0 Calls @ 5.56
Bought MU JUL 20 2018 41.0 Puts @ 3.77
This gives a net debit of 4.60 for the Jul 2018 position. Add the 2 point max downside and get a max loss possibility of 6.60. Based on that, and the 25 weeks remaining in the trade I only need to average about 26 cents per week in sales to cover the absolute worst case scenario.
So:
Sold MU FEB 2 2018 44.5 Calls @ .60
MAT
#SyntheticStock – Earnings next week. If we get a little run up to a flat delta I’ll book it before. Keeping the sale tight and since it’s in an #IRA I have to close before I can re-sell.
Bought to Close MAT JAN 26 2018 17.5 Calls @ .05 (sold for .27)
Sold MAT FEB 2 2018 17.5 Calls @ .85
ISRG
WDC
#Earnings – Getting out while I’ve got a chance…
Bought to Close WDC JAN 26 2018 86.5/93.0 Strangles @ .45 (sold for 1.94)
LUV
#SyntheticStock – Don’t want all of my eggs in the AAL basket so taking a shot with LUV…
Synthetic Stock:
Sell to Open LUV JAN 18 2019 60.0 Puts @ 5.89
Bought to Open LUV JAN 18 2019 60.0 Calls @ 6.64
Disaster Puts:
Bought to Open LUV JAN 18 2019 57.5 Puts @ 4.75
This gives a net debit of 5.50 for the Jan 2019 position. Add the 2.50 point max downside and get a max loss possibility of 8.00. Based on that, and the 51 weeks remaining in the trade I only need to average about 16 cents per week in sales to cover the absolute worst case scenario.
Giving it a little breathing room in the beginning until I see how the recovery goes:
Sold LUV FEB 2 2018 61.5 Calls @ .41
WDC
#Earnings – Total crapshoot here. Playing it bullish but have no clue…only theory is short puts are easier to deal with on a big move than short calls. 🙂
Sold WDC JAN 26 2018 86.5/93.0 Strangles @ 1.94
ISRG
#Earnings – Playing it at the expected move to the downside and twice the expected move to the upside…
Sold ISRG JAN 26 2018 425.0/490.0 Strangle @ 4.75
REGN
#SyntheticStock – Rolling weeklies again into earnings week as high as I can for a credit…
Rolled Feb 2nd 390 calls to Feb 9th 400 calls @ .31 credit
Rolled Feb 2nd 395 call to Feb 9th 407.5 call @ .19 credit
VRX
#SyntheticStock – One of my last ones where the weekly was run over from almost the second I set the trade. Been running negative deltas for awhile. This pullback is giving me a chance to get out at even. Lousy fills out in 2020 or would’ve been a decent profit.
Sold Jan 2020 15/15/12 synthetic stock
Bought Apr 2018 16 calls
Made $36.50 after commissions! 🙂 🙂
UNG
#SyntheticShortStock – Still messing around in the tastyworks account. I think I could get used to it. After seeing the commissions and fees it’s looking like an average of about 56 cents per contract with each leg capped at 10 dollars.
Sold UNG Feb 16 2018 25.0 Puts @ .63
UNP
#ShortPuts – Throwing these in the divvy part of the #401k ….
Sold UNP May 18 2018 125.0 Put @ 3.70
Sold UNP May 18 2018 120.0 Put @ 2.45
REGN
#SyntheticStock – Clearing the 50 ma and looking like it’s finally getting some air under it. Rolling weekly out and up. All weeklies are now next week with earnings the following week. Lots of options going into that high IV.
Rolled REGN JAN 26 2018 380.0 Call to FEB 2 2018 390.0 Call @ 1.70 debit
FFIV LRCX Earnings
#Earnings – Worked great…I’m out and moving on down the road towards ISRG and WDC.
Bought to Close FFIV JAN 26 2018 130.0/155.0 Strangles @ .19 (sold for 1.33)
Bought to Close LRCX JAN 26 2018 200.0 Put @ .05 (sold for 1.80)
Bought to Close LRCX JAN 26 2018 202.5 Put @ .65 (sold for 2.70)
UNG
#SyntheticShortStock – Missed another one from earlier. Filled in tastyworks account. Is there a way to get text alerts on fills there?
Bought to Close UNG Jan 26 2018 24.0 Puts @ .01 (sold for .22)
Options Bistro 