Amazing it’s holding up this well. Saw over the weekend some top talent leaving and/or taking extended leaves….and this:
https://www.digitaltrends.com/news/tesla-model-s-crashes-into-fire-truck-in-utah-at-60-mph/?utm_source=sendgrid&utm_medium=email&utm_campaign=daily-brief
#LongCalls #LEAPS – A lot of rolling this morning. Out to July for the ones deep in the money. Others not quite so far. Some small debits but no problem with all the premium received so far. On the bright side most of these are trading above the LEAP strike so most of these calls are similar to trailing stops giving some downside protection. On a big pullback these could easily be rolled back in and down.
CELG: May 18th 85.5 to May 25th 86.5 @ .13 credit (nearing end of life so will roll any time it’s near the money)
FAS: May 18th 64.5 to Jun 15th 66.0 @ even
FAS: May 18th 64.5 to Jul 20th 68.0 @ .02 credit
OLED: May18th 96.0 to Jun 8th 100.0 @ .15 debit
ROKU: May 18th 35.5 to Jun 1st 37.0 @ .06 credit (I’ll look to book it if it reaches zero deltas again)
SMH: May 18th 99.5 to Jul 20th 102.0 @ .13 debit
TNA: May 18th 71.0 to Jul 20th 75.0 @ .28 debit
TQQQ: May 18th 152.0 to Jun 15th 156.0 @ .16 debit
XBI: May 18th 88.0 to Jun 22nd 90.0 @ even
XLY: May 18th 103.5 to Jun 8th 104.5 @ .02 credit
FB: Playing the Jan 2019 calls and puts on this one. Stock has rallied and I’ve sold puts all the way up nearly covering the put LEAPS already. Of course the call side has been struggling. It was 160 long LEAPS against 162.5 short calls next week. I’d like to get the call side back in the game so I’m using my old strategy that worked when AMZN was going crazy to the upside.
Rolling the LEAP calls up for a credit and using that to roll the weekly calls up and out. Basically a wash but gets the short calls into a much more rollable position. Moved the LEAPS up 10 but only got the weeklies up 7.50 since I didn’t want to go out any further and wanted a credit.
Jan 2019 160.0 to Jan 2019 170.0 @ 7.17 credit
Then:
May 25th 162.5 to Jun 15th 170.0 @ 6.65 debit
I’ve gone through all of my current 2020 LEAPS positions and added another little detail to how I track them. This additional detail will assist me in selling the weekly calls…especially when the stock is trading well below the LEAP and whipsaw risk is at it’s greatest.
I’ve always tracked and updated how much weekly premium I need to average to cover max loss over the duration of the position. Selling that much every week isn’t going to make any profit though. I’ve added another number to my tracking that tells me how much premium I need to average to have max loss covered by Jan 2019. By watching that number, I would be able to have the LEAP cost covered and still have 12 more months to sell. Surprisingly, that number really isn’t that much more which further shows that going out as far in time as possible for these is the way to go.
The profit potential in these is pretty eye opening. These last 2 to 3 weeks of selling have been far and away the most I’ve ever brought in on weekly sales. Once the LEAPS are paid for these sales would be all profit. The May 4th expiration was my all time high bringing in over 15k of realized gains. Not all of that was weekly sales against the LEAPS but a big chunk of it was. Keeping a long term outlook and just gradually plugging away week after week is the key. Duration over direction for these. I’m almost to the point now where I really don’t care where the market goes as long as the VIX stays up where premium stays somewhat elevated. Crazy thing is that these aren’t huge oversized positions. I stay within strict limits on my position sizes but these really add up with 8 or 10 underlyings each brininging in a little every week or two.
Here are all my current 2020’s with updated weekly sales required for both scenarios. My 2019 positions are similar numbers too. If I’m happy with the underlying stock as soon as the 2019’s are completely covered I’ll be looking to add more 2020’s and when the 2020’s are covered I’ll be waiting on the 2021’s to show up and start working to cover them.
=============================================
First number is required weekly sales to cover max loss by Jan 2020. Second number is to cover max loss by Jan 2019 which leaves another year to sell.
EWW .09/.21
FAS .16/.31
GLD .16/.42
NOC .42/1.05
NVDA .56/1.38
REGN .73/1.95
ROKU .12/.30
SMH .14/.35
TNA .18/.44
There’s a #FallingKnife …
#LongCalls #LEAPS -Since it’s in an #IRA I’m paying the dime to get the next sale going. Getting the weekend and stock looks a little weak since Rocket Man is now a fine upstanding citizen.
Bought to Close NOC MAY 11 2018 330.0 Calls @ .10 (sold for 2.70)
Sold NOC MAY 18 2018 330.0 Calls @ 2.30
#ShortStrangles #LongCalls #LEAPS – Rolling out to earnings week. This is a small position so after earnings if it keeps going up I may try the old method I used with my AMZN position. I’ll be rolling the core (in this case the LEAPS) up to finance the weekly call roll. Worked for AMZN synthetic and I think it can be even more effective with just plain old long calls since there’s no downside short puts to be concerned with…
Rolled ADSK MAY 11 2018 128.0 Calls to MAY 25 2018 131.0 Calls @ .06 debit
#TiredofIt – Still rolling and selling this one. Won’t bore everyone with the details. Will have it out to end of year and then see where it stands.
#BearPutSpreads #LEAPS – Still selling against 300/200 Bear Put Spreads. Sold aggressively through earnings and continuing that until it decides where it wants to go. Finally out of these after accumulating premium through a few rolls…
Bought to Close TSLA MAY 11 2018 295.0 Puts @ .10 (sold for 13.15)
Sold TSLA MAY 18 2018 297.5 Puts @ 4.00
#SyntheticStock – I guess the Donald isn’t going to punish drug companies as much as everyone was thinking. Unfortunately I might be fighting the recovery in this one. Rolling weekly calls up and out for now similar to a trailing stop. Great premium all the way down at least!
Rolled REGN MAY 11 2018 290.0 Calls to JUN 15 2018 300.0 Calls @ .40 credit
#LongCalls #LEAPS – I hate doing it up at these levels but the premium is great. Staying small here and going slightly out of the money. Might book it on a bounce if we get one. Otherwise….sell weeklies aggressively.
Bought NVDA JAN 17 2020 260.0 Calls @ 51.90
88 weeks to run so need 59 cents per week to cover cost…
So:
Sold NVDA MAY 18 2018 260.0 Calls @ 3.57
#LongCalls #LEAPS – After finally having time to sit down and update all my positions I’m switching into a longer term trade on this. LEAPS are reasonably priced given the weekly premium available. I closed the puts at a loss that I sold yesterday (1.00 loss). The LEAP position will be twice the size so will roll a 50 cent loss into that cost.
This is also in a different account from my SMH position to avoid some overlap.
Bought ROKU JAN 17 2020 35.0 Calls @ 10.50 (basis will be 11.00 with loss addition)
88 weeks to run so need 12.5 cents per week to cover cost…
So:
Sold ROKU MAY 18 2018 35.5 Calls @ .75
#Earnings – A clean sweep for the week. Wish all earnings seasons were like this!
Bought to Close NVDA MAY 11 2018 242.5 Puts and 272.5/275 Bear Call Spreads (Jade Lizard) @ .27 (sold for 2.55)
#CoveredCalls – Small position in an #IRA. Basis now 94.20 so scratching out a couple bucks while waiting for some sign of life.
Bought to Close CELG MAY 18 2018 95.0 Calls @ .04 (sold for 1.42)
Sold CELG JUN 22 2018 94.0 Calls @ .48
#LongPuts #LongCalls #LongLEAPStraddles – Gonna continue pounding the put side while waiting for a pullback. I may end up getting put and call LEAPS paid for in a month just selling near the money puts on this rise. Rolled this one up multiple times last two weeks.
Bought to Close FB MAY 11 2018 182.5 Puts @ .20 (sold for 3.95)
Sold FB MAY 18 2018 187.5 Puts @ 3.22
17.50 premium received in 4 weeks. The combined cost of LEAP calls and puts was 30.00. Still 35 weeks to run. Would enjoy a pullback to get the call side involved again. Until then I’ll be gradually rolling the ITM calls up and out.
EDIT: Rough numbers on the sales. I’ll catch up over the weekend…
#Earnings – Not sure what this is called. Skewed iron condor maybe? I’m looking at it like a #JadeLizard with a disaster put. Selling at near the expected move on each side but with no upside risk and a disaster put just in case.
Sold NVDA MAY 11 2018 242.5 Puts and 272.5/275 Bear Call Spreads @ 2.72 (Jade Lizard)
Using some of the extra 22 cents to buy disaster puts 20 points below the sold put. If this stock misses earnings by a mile it could really implode (guessing).
Bought NVDA MAY 11 2018 222.5 Puts @ .17
Net credit of 2.55 with zero upside risk. If it implodes I’ll look to roll the puts or move it all into a #LongCalls #LEAPS type trade.
EDIT: What do I want the stock to do? As little as possible! Just like a strangle…stay between my short strikes…
#Earnings – Haven’t done anything yet. Kinda busy moving my daughter today. This stock is completely out of control so is it a “sell the news”? Not sure but looking at big wide strangles for now or possibly another #JadeLizard with the 2.5 wide strikes available.
#LongPuts #LEAPS – Been in this one for awhile and it really never has worked. Little rally today gets it back to close to even so bailing. May look at it again on a spike back to the mid 40’s.
Sold to Close NUGT JAN 18 2019 32.0 Puts
Bought to Close NUGT MAY 18 2018 28.0 Puts
Glad to be done with it. All said and done a loss of 16 cents per contract.
#ShortPuts – Still a little bit of juice in these. Let’s see if the breakout holds. Not doing anything on the call side since we could wake up any day and see they’re being bought out for 50 bucks.
Sold ROKU JUN 8 2018 33.0 Puts @ .85
#Earnings – In and out and forget about it. On to NVDA now…
Bought to Close ROKU MAY 11 2018 35.0 Puts and 41.0/44.0 Bear Call Spreads (Jade Lizards) @ .48 (sold for 2.55)
Bought to Close ROKU MAY 11 2018 31.0 Put @ .05 (sold for .60)
#LongCalls #LEAPS – Another one getting close to fully covered on the max loss but time is dwindling. Getting a bounce here so paying the 2 cents in order to get the next one sold sooner.
Bought to Close CELG MAY 11 2018 89.0/94.0 Bear Call Spreads @ .02 (sold for .56)
Sold CELG MAY 18 2018 85.5/91.5 Bear Call Spreads @ .54
Whipsaw risk is high here and need 25 cents per week out to July expiration to break even. This has been a nearer term position I tried just to see how they trade close to the end. Would love a few more months…
#SyntheticStock #LongCalls #LEAPS – If next week’s 53.5s expire I’ll officially have the core synthetic cost of 5.52 covered. That will leave the max loss of 2.50 to take care of. Since I’m not sitting at max loss yet I’m converting to plain long #LEAPS and saving .65 of recovery that would be required.
Bought to Close LUV JAN 18 2019 60.0/57.5 Bull Put Spreads @ 1.85 (better than 2.50!)
So….the new projections are this on one of my first ones to approach the land of #PureProfit .
Averaging 45 cents per week conservatively the final debit (max loss) will be covered by June monthly expiration. At that point the position will still have 31 weeks to run. From there on, assuming 45 cents per week until the end, the trade should make about 14 dollars. On a 10 lot that’s a pretty good return on something that could possibly end up well below the original starting point. This is the power of basis reduction (I hope!)
🙂 🙂
#LongCalls #LEAPS – Approaching resistance but rolling a little anyway. Correcting my fat finger to get everything back together again.
Rolled 1 PYPL MAY 11 2018 74.0 Call to MAY 25 2018 75.5 Call @ .06 debit
Rolled 9 PYPL MAY 11 2018 74.5 Calls to MAY 25 2018 75.5 Calls @ .43 credit
#Earnings #JadeLizard (sort of) – Having a great earnings season so almost decided to sell very aggressive strangles in this. Common sense took over but still staying aggressive while limiting upside risk to 45 cents with a Jade Lizard style trade…(sell puts and call spreads where the call spreads are narrow enough to eliminate or minimize up side risk).
Sold ROKU MAY 11 2018 35.0 Puts and 41.0/44.0 Bear Call Spreads @ 2.55
Eliminates most of the upside risk and brings breakeven on the put side down to 32.45 which is near the expected move and below the 20 and 50 day moving averages.
What’s the plan then? Lots of possibilities here. Stock blows out to the upside could book long calls and roll short calls into a new strangle or just sell a few puts right at the open to bring in 45 cents and get out even.
If the stock blows out to the downside could sell more calls near the short puts and wait a couple days and see what happens. Could then roll or ultimately turn this into a Jan 2020 LEAPS style position.
#LongCalls #LEAPS – It’s still dropping and I’m still selling. Has to bottom eventually. Fairly aggressive roll for additional premium this week.
Rolled REGN MAY 11 2018 300.0 Calls to MAY 11 2018 290.0 Calls @ 1.25 credit (4.65 total on these now)
#BearPutSpreads #LEAPS – Still selling against 300/200 Bear Put Spreads. Sold aggressively through earnings and continuing that until it decides where it wants to go. Rolling up this week trying for a little more premium.
Rolled TSLA MAY 11 2018 285.0 Puts to MAY 11 2018 295.0 Puts @ 1.40 credit (13.15 total on these now)
#LongCalls #LEAPS – Even with my rollout the other day this thing is still approaching negative deltas. (great call by Whiz on the Iran/Trump/oil prices!). With this kind of gain on a 10 lot in a week just gotta book it and wait for a pullback or move on to something else.
Sold to Close ERX JAN 17 2020 36.0 Calls
Bought to Close ERX MAY 25 2018 39.0 Calls
Not much for weekly sales…nearly all directional gains of 1.21 per contract. I’ll say it again…playing just the LEAPS only instead of synthetic is the reason these scalps are possible.
#Earnings – In and out and forget about it. On to ROKU now…
Bought to Close EA MAY 11 2018 118.0/131.0 Strangles @ .58 (sold for 2.45)
#LongCalls #LEAPS – Following Whiz here…he’s using RTN but I prefer weeklies.
Bought to Open NOC JAN 17 2020 330.0 Calls @ 41.50
Sold NOC MAY 11 2018 330.0 Calls @ 2.70
89 weeks so 47 cents per week required to cover max loss…
#Earnings – I’ll take a small shot. Selling the 200ma and the all time high. Leaning slightly bullish…
Sold EA MAY 11 2018 118.0/131.0 Strangles @ 2.45
#LongCalls #LEAPS – Adding on the weakness. Position size is now 80 percent leaving room for one more add if this thing is headed to the 200ma. Earnings estimated on May 31 so wanting to capture all that when the time comes…
Bought DG JAN 18 2019 95.0 Calls @ 7.60
Sold DG MAY 18 2018 95.0 Calls @ .95
#LongCalls #LEAPS – Now that I’m out of XOM and established in ERX I’m getting rid of some more “single stock” risk. This thing has risen enough now to put me into negative deltas so booking some gains and moving on. Also, this makes room for some possible earnings plays in ROKU and NVDA this week.
Sold to Close SLB JAN 18 2019 67.5 Calls
Bought to Close SLB MAY 18 2018 69.0 Calls
Lots of nice weekly premium sales and when all said and done made .63 per contract.
#LongCalls #LEAPS – This thing is all the way out to 2020 so no need to get too greedy this early. I’m giving it some room until we see what the Donald does this Saturday with the Iran nuke agreement. Can always roll it back in and down…
https://www.reuters.com/article/us-global-oil/oil-surges-to-fresh-highs-on-growing-supply-worries-idUSKBN1I801Z
Rolled ERX MAY 11 2018 37.5 Calls to MAY 25 2018 39.0 Calls @ .15 credit
#LongCalls #LEAPS – Trying to squeeze out another double dip…
Bought to Close EWW MAY 18 2018 52.0 Calls @ .05 (sold for .35)
Sold EWW MAY 18 2018 49.5 Calls @ .36
#LongPuts #LongCalls #LongLEAPStraddles – Pounding the put side while waiting for a pullback…
Bought to Close FB MAY 4 2018 172.5 Puts @ .05 (sold for 4.06)
Sold FB MAY 11 2018 177.5 Puts @ 2.70
#LongCalls #LEAPS – Intended to be longer term but can’t give it back when it happens so fast. Only in it a week.
Sold to Close BABA JAN 17 2020 180.0 Calls
Bought to Close BABA MAY 18 2018 190.0 Calls
And had some way OTM long puts for fun….took a penny loss on those.
Sold BABA JAN 17 2020 50.0 Puts @ .29
All said and done it’s a 5.20 gain per contract. I’ll be back in on the next pullback!
#BearCallSpreads – Doing a little house cleaning for the announcement next week that we’re pulling out of the Iran nuke aggreement (maybe)…
Bought to Close UVXY May 18 2018 Bear Call Spreads @ .06 (sold for .65 and .95 in 2 accounts)
#LongCalls #LEAPS – This should do it for me today…
Bought to Close CELG MAY 4 2018 89.5 Calls @ .03 (sold for .65)
Sold CELG MAY 11 2018 89.0/94.0 Bear Call Spreads @ .56
#LongCalls #LEAPS – Strong recovery…I may look to book this one as a quickie if the rally continues next week enough to get me to short deltas.
Rolled BABA MAY 4 2018 185.0 Calls to MAY 18 2018 190.0 Calls @ .24 credit
#ShortStrangles – With ROKU and NVDA earnings coming up that I’d like to play I’m playing it safe and booking this one just for safety. It may pull back or it may break to the upside…I have no idea.
Bought to Close WYNN MAY 18 2018 180.0/197.5 Strangles @ 2.99 ( sold for 4.76)
#LongCalls #LEAPS – Didn’t quite get low enough today…
Rolled to next week 67.5 to 68.5 @ .02 credit
#LongCalls #LEAPS – All had aggressive sales for next week. With the rally today I rolled all of them out and up to May 18 for small debits. Brought in great premium so no problem giving a little back.
SMH 98.5 to 99.5 @ .05 debit
TNA 69.5 to 71.0 @ .31 debit
XLY 102.5 to 103.5 @ .28 debit
#LongCalls #LEAPS #tastyworks – In a small account to get used to the platform. BTW…liking it more all the time.
Sold FAS MAY 18 2018 64.0 Calls @ 1.00
And my aggressive roll down into earnings didn’t quite work so giving a small part of the credit back…
Rolled FB May 4th 165.0 calls to Jun 1st 167.5 calls @ .27 debit
#Earnings – Wish they were all like this…in the position for a grand total of 1 minute and 45 seconds of “open market” time. LOL!
Bought STMP MAY 4 2018 200.0/260.0 Strangle @ .10 (sold for 5.41)
#LongCalls #LEAPS – Just noticed a fill in my little Tastyworks account…hopefully a little pop in the morning to sell next week.
Bought to Close FAS MAY 4 2018 67.0 Calls @ .05 (sold for 2.55)
#Earnings – Tough fill…
Sold STMP MAY 4 2018 200.0/260.0 Strangle @ 5.41
#LongCalls #LEAPS – LMAO…a fat finger finally helped me. Was so busy this morning when I sold next week’s weeklies I just noticed I only sold 1 instead of 10. Stock up nicely now so adding the rest. Makes up for some of my fat finger losers! 🙂 🙂
Half strike higher and 13 cents more…
Sold PYPL MAY 11 2018 74.5 Calls @ .81
#BearPutSpreads – To make room for a FAS position in this account something has to go. Tired of looking at these so booking them. Been gradually reducing basis for awhile now so decent gains.
Sold VXX JAN 18 2019 50.0/30.0 Bear Put Spreads @ 12.80 (bought for 10.10)
Sold VXX JAN 18 2019 45.0/35.0 Bear Put Spreads @ 6.47 (bought for 6.01)
Using VXX buying power to start a half position in FAS in this account….
Bought FAS JAN 17 2020 62.0 Calls @ 14.25
Sold FAS MAY 11 2018 63.5 Calls @ .85
#SyntheticStock – This was a fun one. The aggressive roll down for the double dip #Earnings play worked great. Paying the 20 cents to get out so I can sell again while there’s still a little juice next week.
Bought to Close REGN MAY 4 2018 310.0 Calls @ .20 (sold for 5.60)
Sold REGN MAY 11 2018 300.0 Calls @ 3.40
#SyntheticStock – An old “earnings gone bad” repair trade that might actually turn into a nice winner…needs 99 cents per week. Earnings tonight so making an aggressive roll down. See if I can bring this thing back to life…
Rolled OLED MAY 4 2018 105.0 Calls to MAY 4 2018 96.0 Calls @ 1.95 credit (3.50 total now)
#LongCalls #LEAPS – Most new positions I have on are 2020’s. Maybe a good time to start getting the shopping list together for some more 2020s.
FAS is the one I’ll be really looking to add a 2020. Also watching XBI, XLY, and EWZ.
#ShortStrangles #LongCalls #LEAPS – This is a repair trade and some short strangles that’s turning into a longer term position with the decent premium. Earnings not for another 3 weeks…
Bought to Close ADSK MAY 4 2018 129.0 Calls @ .05 (sold for 1.85)
Sold ADSK MAY 11 2018 128.0 Calls @ 1.00
#LongCalls #LEAPS – Same as SMH here…selling at the overhead 200ma. Let’s see if it holds…
Bought to Close FAS MAY 4 2018 65.0 Calls @ .05 (sold for 2.75)
Sold FAS MAY 11 2018 63.0 Calls @ .81
#LongCalls #LEAPS – Selling next week at the overhead 200ma resistance…
Bought to Close SMH MAY 4 2018 100.0 Calls @ .05 (sold for .71)
Sold SMH MAY 11 2018 98.5 Calls @ .84
#LongCalls #LEAPS – Earnings in the morning so going for the double dip. Selling at the expected move.
Bought to Close CELG MAY 4 2018 100.0 Calls @ .02 (sold for .65)
Sold CELG MAY 4 2018 89.5 Calls @ .55
#LongCalls #LEAPS – Selling new batch at the descending 20ma…
Bought to Close LUV MAY 4 2018 54.0 Calls @ .05 (sold for .40)
Sold LUV MAY 18 2018 53.5 Calls @ .60
#LongCalls #LEAPS – Didn’t get a chance to sell these yesterday. Small bounce in the first few minuts allowed a sale next week…
Sold PYPL MAY 11 2018 74.0 Calls @ .68
#Earnings – Not even gonna mess with it. Take a small profit and move on…
Bought to Close SQ MAY 4 2018 48.0/55.0 Strangles @ 1.02 (sold for 1.53 net with disaster puts buy)
#LongCalls #LEAPS – Filled 10 seconds before the close. No time for the triple dip but the double dip paid off. Second batch this week…
Bought to Close PYPL MAY 4 2018 75.0 Calls @ .05 (sold for .50)
#Earnings #ShortStrangles – A little early…stock has pulled back a little. Bought some cheapie puts at twice the expected move just in case something crazy happens. Also, this is half size in case I need to convert it to a LEAPS position eventually.
Sold SQ MAY 4 2018 48.0/55.0 Strangles @ 1.57
Bought SQ MAY 4 2018 38.0 Puts @ .04
#ShortStrangles – This thing started out in trouble almost from the beginning. Rolled calls down a couple times and ended up with a straddle. A little bounce back gets me out with good profit. Closing this to make room for SQ earnings. If that works out then I’ll get another shot at ROKU next week with their earnings.
Bought to Close ROKU MAY 4 2018 34.0 Straddles @ 1.23 (sold for 2.20)
#LongCalls #LEAPS – A little more theta and a little more pullback allowed me to get out of my XOM snoozer.
Sold to Close XOM JAN 17 2020 75.0 Calls @ 7.47
Bought to Close XOM MAY 4 2018 75.5 Calls @ 1.36
All said and done including weekly sales made a whopping .16 per contract after commissions. I’ll take it!
Now…staying in energy but moving on to something with a little more premium.
Bought ERX JAN 17 2020 36.0 Calls @ 10.49 (89 weeks needs 12 cents per week)
Sold ERX MAY 11 2018 37.5 Calls @ .50
#Earnings tomorrow before the open. Not really an earnings play but taking advantage of the high IV to double dip. Rolling to just inside the expected move trying to force a turnaround. This particular position is really taking a long term outlook since I went synthetic at 400. Updated all of my #LEAPS and #SyntheticStock positions last night. This one is out to 2020 and still only requires 74 cents per week…
Rolled REGN MAY 4 2018 345.0 Calls to MAY 4 2018 310.0 Calls @ 3.20 credit (5.60 total credit now)
#LongCalls #LEAPS – In an #IRA so have to close before I can sell the following week. Paying a couple extra pennies to get next week going sooner.
Bought to Close TNA MAY 4 2018 72.0 Calls @ .08 (sold for 1.23)
Sold TNA MAY 11 2018 69.5 Calls @ 1.05
#PerpetualRollingStrangles – This week’s 120s look safe so going out a couple weeks for the next sale…
Sold TLT MAY 18 2018 119.5 Calls @ .52
#LongCalls #LEAPS – Added one to my existing position…
Bought TQQQ JAN 17 2020 150.0 Call @ 38.00
Sold TQQQ MAY 4 2018 147.0 Call @ 1.70
#ShortStrangles – Rolling the put side up to the 50ma…
Rolled WYNN MAY 18 2018 172.5 Puts to MAY 18 2018 180.0 Puts @ 1.12 credit
Position is now May 18th 180.0/197.5 Strangles @ 4.76
#LongCalls #LEAPS #DisasterPuts – Been throwing around this idea for awhile. Taking a shot as an experiment. Instead of buying expensive put protection I’m buying some cheap ones but at twice the size. If this thing implodes I’ll take profits and buy more LEAP calls. If it doesn’t implode I won’t even notice the cost of these in a few weeks of weekly call sales.
Bought to Open TQQQ JAN 18 2019 32.5 Puts @ .80
Using 2019 since there weren’t any cheap ones in 2020. I’ll look at those if they add lower strikes…
#LongCalls #LEAPS – Going back in here….had pretty good luck last time. Earnings on Friday before the open so I’d like to capture as much of that premium as possible. After earnings I’ll decide whether to keep it long term or not. Might make a few bucks on an earnings pop and get out. I like the ticker either way…
Bought to Open BABA JAN 17 2020 180.0 Calls @ 34.50
Max loss 34.50 with 90 weeks to run. Need 38 cents per week to cover. That seems reasonable…
So:
Sold BABA MAY 4 2018 185.0 Calls @ 1.81
I may adjust those a little depending on where the stock is Thursday afternoon.
#CoveredCalls – Sold UAA DEC 21 2018 25.0 Calls @ .74
#LongPuts #LongCalls #LongLEAPStraddles – Rolling the put side up for additional credit this week….
Rolled FB MAY 4 2018 162.5 Puts to MAY 4 2018 172.5 Puts @ 1.06 credit (4.06 total on these already)
#LongCalls #LEAPS – A little early but needed a sale this week…
Sold PYPL MAY 4 2018 75.0 Calls @ .50
#LongCalls #LEAPS – Out all day Thursday and Friday but did get a few trades in.
========================
FB:
Had to roll my aggressive FB sales. Using some of the 7.11 premium received so far to finance the roll.
Rolled FB Apr 27 2018 160.0 Calls to May 25 2018 162.5 Calls @ .60 debit
========================
PYPL:
The roll down and in worked. Out a week earlier with additional credit. Didn’t get a fill on next week’s sale yet.
Bought to Close PYPL Apr 27 2018 76.0 Calls @ .01 (sold for 1.58)
========================
LUV:
Going for the double dip week similar to my SMH position.
Bought to Close LUV May 4 2018 57.0 Calls @ .05 (sold for .60)
Sold LUV May 4 2018 54.0 Calls @ .40
========================
TQQQ:
Rolling…
Rolled TQQQ Apr 27 2018 144.0 Calls to May 04 2018 147.0 Calls @ 2.12 credit (3.37 total on this batch now)
========================
#ShortStrangles – Whiz just put on a May monthly 172.5/170.0 BuPS. He’s been on a roll so I’m using his short strike for my put side and selling calls up above the clutter.
Sold WYNN MAY 18 2018 172.5/197.5 Strangles @ 3.64
#LongCalls #LEAPS – I can’t help myself. Been wanting in this one for awhile. I did hold back and only do a half position just in case. Going out to 2020…
Bought TNA JAN 17 2020 70.0 Calls @ 17.22
90 weeks to run so needing 19 cents per week to cover. That shouldn’t be too much of a problem.
So:
Sold TNA MAY 4 2018 72.0 Calls @ 1.23
#LongCalls #LEAPS – With the weakness in the stock and the additional volatility pumped into these for earnings tonight I’m rolling my short calls back in and down. Guessing there won’t be any crazy up moves. This would get me out a week early and allow a re-sale of next week.
Rolled PYPL MAY 4 2018 78.5 Calls to PYPL APR 27 2018 76.0 Calls @ .58 credit.
