#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)
Author Archives: fuzzballl
SQ Earnings
#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
ROKU
#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)
XOM convert to ERX
#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
REGN
#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)
TNA
#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
TLT
#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
TQQQ
#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
WYNN
#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
TQQQ
#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…
BABA
#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.
UAA
#CoveredCalls – Sold UAA DEC 21 2018 25.0 Calls @ .74
FB
#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)
PYPL
#LongCalls #LEAPS – A little early but needed a sale this week…
Sold PYPL MAY 4 2018 75.0 Calls @ .50
FB PYPL LUV TQQQ
#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)
========================
WYNN
#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
TNA
#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
PYPL
#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.
GUSH
I didn’t get in but you gotta love that inventory report that just came out!
SMH
#LongCalls #LEAPS – 200ma might be resistance now. Let’s find out…rolling short calls down to just above it.
Bought to Close SMH MAY 4 2018 104.0 Calls @ .16 (sold for 1.33)
Sold SMH MAY 4 2018 100.0 Calls @ .71
FB
#LongPuts #LongCalls #LongLEAPStraddles – This is also a little bit of an #Earnings trade to. Seems like all news is bad news right now so making FB come and get me on the long side. Rolling down my short calls that are sold against Jan 2019 160.0 long calls.
Rolled FB APR 27 2018 167.5 Calls to APR 27 2018 160.0 Calls @ 2.67 credit.
Total premium in the call now is up to 7.11. The LEAP only cost 18.50 so recovered 38 percent of the cost in 2 weeks with all this volatility. Still 38 weeks to run. Playing the put side simultaneously also…
WYNN Earnings
#Earnings #ShortStrangles – Don’t trust this market so took this off right at the open.
Bought to Close WYNN APR 27 2018 182.5/205.0 Strangles @ 1.89 (sold for 3.20)
WYNN Earnings
#Earnings #ShortStrangles – Haven’t been in this one in awhile….
Sold WYNN APR 27 2018 182.5/205.0 Strangles @ 3.20
URI
#ShortPuts #IRA – This one was pretty stress free on the last dip. Going in again here…
Sold URI JAN 18 2019 110.0 Put @ 3.50
Sold URI JAN 18 2019 100.0 Put @ 2.30
TQQQ
#LongCalls #LEAPS – Forgot I had this order in. When it filled I started looking at booking the nice gain on my short 250 LEAP. Did all that and selling another this week going for the double dip. Will roll the LEAP trade into my long LEAP basis and look to sell it again on the next rally.
Bought to Close TQQQ APR 27 2018 155.0 Calls @ .20 (sold for 3.20)
Sold TQQQ APR 27 2018 144.0 Calls @ 1.25
And the LEAP:
Bought to Close TQQQ JAN 17 2020 250.0 Calls @ 10.80 (sold for 16.10)
OLED
#SyntheticStock – An old “earnings gone bad” repair trade that might actually turn into a nice winner…needs 99 cents per week. This week’s 100s look pretty safe so selling next week now. Earnings on May 3rd so keeping it well out of the money for now. I may adjust this prior to the announcement.
Sold OLED MAY 4 2018 105.0 Calls @ 1.55
CELG
#SyntheticStock – I’ve covered the initial debit but not the max loss on this one. Converting to straight long calls which reduces the amount of max loss that’s needed to be recovered by 65 cents. With this thing winding down in July every little bit helps. Got a chance to be profitable in spite of the stock being nearly 16 dollars below the core synthetic.
Bought to Close CELG JUL 20 2018 105.0/100.0 Bull Put Spreads @ 4.35
DG PYPL
#LongCalls #LEAPS #SyntheticStock -I posted on this subject down below in response to a question and felt it was worth throwing out there again up here at the top. Like to run it by you guys and gals to see if I’m missing anything.
After looking closely over the weekend at my synthetic conversions to just straight long calls or long puts, I’m still happy with those. What I’m having a change of heart on is the selling of the upside of the LEAPS. After looking at the loss of long deltas in the conversion (closing the BuPS to leave just long calls) it just looks like the extra sale against the upside LEAP position gets the entire position way to short. I think there’s plenty to be made with just the basic weekly sales without adding the risk of turning it into a loser on a big rally.
I’m leaving TQQQ as is but closing the others that I had sold that were quite a bit tighter. Just not worth the risk….
Bought to Close DG JAN 18 2019 115.0 Calls @ 2.75 (sold for 2.75)
Bought to Close PYPL JAN 18 2019 100.0 Calls @ 2.08 (sold for 1.93) I’ll take that small loss out of the last weekly sale…
CELG
#CoveredCalls #IRA – Assigned some shares at a 95.65 basis. Looking to unload them for any profit.
Sold CELG MAY 18 2018 95.0 Calls @ 1.42
TQQQ
#ShortPuts #IRA – Taking a little off the table…
Bought to Close TQQQ MAY 18 2018 80.0 Put @ .12 (sold for 2.00)
DG PYPL
#SyntheticStock – Converting this one over to Jan 2019 Bull Call Spreads similar to how I did NUGT…closing the short put side of the synthetic and the disaster put (a BuPS). The stock is still above the LEAP position so a good time to do it (yesterday was even better!).
Bought to Close DG JAN 18 2019 95.0/92.5 Bull Put Spreads @ 1.05
Sold DG JAN 18 2019 115.0 Calls @ 2.75
Caps my upside well above the all time high on the stock which I’m ok with. In exchange for that I reduce the max loss and pick up a quick 1.70 towards being risk free in the position.
BTW…also did this with PYPL today but won’t bore you with the details.
FB
#LongPuts #LongCalls #LongLEAPStraddles – Gonna be an interesting earnings announcement. Tons of premium so still selling aggressively. Rolling the call side today. Didn’t quite get the needed pullback.
Rolled FB APR 20 2018 165.0 Calls to APR 27 2018 167.5 Calls @ 2.30 credit
FAS
#LongCalls #LEAPS – Banks aren’t running away so rolling but staying aggressive with the sales…
Rolled FAS APR 20 2018 63.5 Calls to MAY 4 2018 65.0 Calls @ .95 credit
TQQQ
#LongCalls #LEAPS – Staying aggressive and selling at the 50ma. Hopefully they’ll be easy to roll.
Bought to Close TQQQ APR 20 2018 155.0 Calls @ .10 (sold for 3.30)
Sold TQQQ APR 27 2018 155.0 Calls @ 3.20
NUGT
#SyntheticShortStock – Using the weakness today in this thing to close my upside protection leaving just long 32 strike puts.
Bought to Close NUGT JAN 18 2019 32.0/34.0 Bear Call Spreads @ .46
This adds .46 to the cost of the long puts but reduces max loss by 1.54 and makes the trade much easier to manage and cleaner when closing.
TLT
#PerpetualRollingStrangles – Another one in the books…
Bought to Close TLT APR 27 2018 121.5 Calls @ .06 (sold for .60)
Sold TLT MAY 4 2018 120.0 Calls @ .42
EDIT….
For some additional downside help:
Bought TLT SEP 21 2018 100.0 Puts @ .12
ROKU
#ShortStrangles – Rolling short calls down to straddles. Earnings the week after this…
Rolled ROKU MAY 4 2018 37.0 Calls to MAY 4 2018 34.0 Calls @ .55 credit
AZO
#BullCallSpreads #LEAPS -Going back into the belly of the beast with something more realistic to the upside. Buying a narrower spread but using two contracts instead of one. Also, a lower debit so easier to get it covered and be risk free. Let’s see if 600ish can hold…(not looking good so far). A bounce back up to the 200ma resistance would be a good point to take profits. Buying the vertical below and selling the weekly at it.
Bought to Open AZO JAN 18 2019 600.0/620.0 Bull Call Spreads @ 9.95
39 weeks to run so needing 26 cents per week to cover. I’m going for way more than that to get the risk off as soon as possible…
Sold to Open AZO MAY 4 2018 625.0/645.0 Bear Call Spreads @ 2.70
VXX
#BearPutSpreads – I’ve been selling against my Jan 2019 50/30 Bear Put Spreads….trying to gradually cover the debit.
Sold VXX MAY 4 2018 39.0/35.0 Bull Put Spreads @ .71
AZO
#BullCallSpreads – Interesting trade and another lesson for me in the power of basis reduction.
Originally Bought Jan 2019 660/760 Bull Call Spread after last quarter earnings. Stock started dropping from almost the exact moment the trade filled. Continued selling weekly Bear Call Spreads against the position. Also, rolled down the LEAP short 760 to 710 for additional credit. Stock is still imploding as I type this but…
Bought to Close AZO APR 20 2018 625.0/650.0 Bear Call Spread @ .00 (sold for 2.25 and legged out for zero cost 🙂 )
Then:
Sold to Close AZO JAN 18 2019 660.0/710.0 Bull Call Spread @ 15.43
After reducing my basis of the original position to 9.23 the trade still made 6.20 without ever having a single uptick. Now that’s basis reduction!
NVDA
#ShortPuts #IRA – Throw these out there and see what happens…
Sold NVDA SEP 21 2018 175.0 Put @ 4.90
Sold NVDA JAN 18 2019 150.0 Put @ 4.40
SMH
#LongCalls #LEAPS – My newest 2020 position that’s just getting started…
Bought to Close SMH APR 20 2018 106.5 Calls @ .05 (sold for .72)
Sold SMH MAY 4 2018 104.0 Calls @ 1.33
OLED
#SyntheticStock – An old “earnings gone bad” repair trade that might actually turn into a nice winner…needs 99 cents per week. Earnings May 3rd so staying aggressive until then.
Bought to Close OLED APR 20 2018 103.0 Calls @ .10 (sold for 1.58)
Sold OLED APR 27 2018 100.0 Calls @ 1.40
REGN
#SyntheticStock – Plugging away against a Jan 2020 position…selling next batch in earnings week. Might adjust it a little as the day approaches.
Bought to Close REGN APR 20 2018 337.5 Calls @ .20 (sold for 2.20)
Sold REGN MAY 4 2018 345.0 Calls @ 2.40
ROKU
#ShortStrangles – Once again I’ve demonstrated my uncanny ability to trade directionally by selling those 34 puts yesterday. 😦 Added these this morning when it was looking like I was obviously wrong…
Sold ROKU MAY 4 2018 37.0 Calls @ .65
EWW LUV
#SyntheticStock – Some more rolling. Easing them up but keeping some downside cushion. LUV earnings next week.
Rolled EWW APR 20 2018 51.5 Calls to MAY 18 2018 52.0 Calls @ .04 debit
Rolled LUV APR 20 2018 55.0 Calls to MAY 4 2018 57.0 Calls @ .05 credit
XLY
#SyntheticStock – Rolling…
Rolled XLY APR 20 2018 101.5 Calls to XLY MAY 11 2018 102.5 Calls @ .07 debit
DG XOM
#SyntheticStock – These have both been on a tear so rolling the best I can. Neither one is really very rollable especially this far ITM. Will have to trade these like I did my old AMZN position. Keep rolling up and out while ITM treating them like a nice trailing stop.
Rolled DG APR 20 2018 94.0 Calls MAY 18 2018 95.0 Calls @ .10 debit.
Rolled XOM APR 20 2018 75.0 Calls to MAY 4 2018 75.5 Calls @ .14 debit (waiting until after earnings to see what I need to do longer term)
Also on XOM:
Bought to Close XOM JAN 17 2020 75.0/72.5 Bull Put Spreads @ 1.10
This leaves just the long calls out in 2020. Made a profit on the short put / disaster put but did add 1.10 to the cost of the long calls.
PYPL
#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
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
==============
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
Options Bistro 