Here’s one out of the dust bin. Just did a reverse split last week and with nat gas up during the arctic blast I’m (sort of) considering #SyntheticShortStock . I’d rather use BOIL but due to the lack of weeklies and no recent splits UNG caught my eye.
Weekly premium is kinda weak but it’s a slow enough mover that over the long haul it could really add up…
No position yet…
#SyntheticStock – Not really using LEAPS and probably too long of a duration to qualify as a #Fuzzy. More of a hybrid here….thanks @smasty for the idea.
Sold KR JUL 20 2018 28.0 Puts @ 2.27
Bought KR JUL 20 2018 28.0 Calls @ 2.68
Bought KR JUL 20 2018 26.0 Puts @ 1.44
This gives a net debit of 1.85 for the Jul 2018 position. Add the 2 point max downside and get a max loss possibility of 3.85. Based on that, and the 27 weeks remaining in the trade I only need to average about 14 cents per week in sales to cover the absolute worst case scenario. I’m adding a small hedge out a couple weeks. This would keep me on pace for weekly sales to cover max loss but also still give the trade long deltas all the way up to about 30.75.
For some reason, I don’t have the ba**s to carry these completely unhedged. For now I’m changing it up a little by selling the first hedge with a lot of room instead of being so aggressive right out of the gate.
Sold KR JAN 26 2018 29.5 Calls @ .25
#SyntheticStock – Rolling weekly up and out picking up upside and long deltas…
Rolled EWW JAN 12 2018 49.0 Calls to EWW FEB 16 2018 50.0 Calls @ .10 credit
#SyntheticStock – Don’t trust it. Could wake up tomorrow and be up 30.
Bought to Close REGN JAN 12 2018 390.0 Calls @ .10 (sold for 3.55)
#SyntheticStock – Nice winner I’m planning on closing before earnings. It’s up near resistance but also in a nice squeeze so rolling weeklies up and out picking up a lot of long deltas. Hoping for a break above 34.50…
Rolled MGM FEB 2 2018 32.5 Calls to MAR 16 2018 33.0 Calls @ .28 credit
Scrolling through my watchlists looking for some #Fuzzy candidates. Here’s an interesting one.
Going out to Jan 2019 a 23/23/20 is only 3.55. Max loss 6.55 with 53 weeks to go. With the crazy premiums in this thing you could almost have that risk covered in 5 or 6 weeks. Then…let it ride un-hedged as a freebie. Otherwise, just 12 cents a week to cover a trip to zero…
#SyntheticStock – Nice base being built here and entering a squeeze. Adding small in the only account without biotech exposure.
Sold AGN JAN 18 2019 175.0 Puts @ 18.73
Bought AGN JAN 18 2019 175.0 Calls @ 18.78
Bought AGN JAN 18 2019 170.0 Puts @ 16.57
This gives a net debit of 16.62 for the Jan 2019 position. Add the 5 point max downside and get a max loss possibility of 21.62. Based on that, and the 53 weeks remaining in the trade I only need to average about 41 cents per week in sales to cover the absolute worst case scenario.
So:
Sold AGN JAN 19 2018 180.0 Calls @ .73
#Fuzzy – Still no position but getting perky.
Jan 2020 20/20/18 #SyntheticStock only requires 3.5 cents per week to cover core and max loss. Hmmmm…
#ShortStrangles – Clearing out another strangle. Looking at a possible #Fuzzy on this one if it drops a little more.
Bought to Close AVGO FEB 2 2018 250.0/290.0 Strangle @ 3.15 (sold for 5.00)
#SyntheticStock – Has to turn around at some point but doesn’t look like anytime soon. This week’s short calls look safe so selling next week.
Sold REGN JAN 19 2018 380.0 Calls @ 1.80
Initial trade required 90 cents a week to cover everything.
#ShortStrangles – Not liking the way this one is acting. It might bounce here…or not. Taking a tiny winner.
Bought to Close NTES JAN 26 2018 325.0/400.0 Strangle @ 5.48 (sold for 6.20)
#SyntheticShort – With VXX going away I’m closing this short down. No where to roll the short puts and a big volatility spike might not leave time for it to come back down. Turned out pretty good since I had fewer short puts than synthetic short stock. Re-load on next UVXY split…
Sold to Close 13 VXX Jan 2019 50/50/55 synthetics and Bought to Close 9 VXX JAN 18 2019 28.0 Puts
Net gain on each synthetic of 3.85. Not great but worth the margin for sure…
#ShortStrangles – Last time I got involved with this one it was screaming higher but worked out ok. Looks like I’ll be rolling this into an earnings trade. Big roll of short put to try to corral this thing.
Rolled ISRG JAN 12 2018 400.0 Put to JAN 12 2018 425.0 Put @ 8.60 credit
Position is now 425/400 inverted @ 25.95 for Friday.
Anything between the strikes is a small winner…but with all the premium I’ll probably roll to earnings week and see what happens.
#ShortStrangles – Going straddle for Friday.
Rolled 370 put up to 400 @ 8.60 credit.
Now sitting at 400 Straddle @ 17.35
Breakeven from 382.65 to 417.35
Missed the segment on TT this morning about utilities. Searched back through the forum here and see some of you guys have played it over the last year or two.
Looking like a nice possibility as a #SyntheticStock or a #Fuzzy. Probably low risk and slow moving for a long term play…
For example:
Jan 2020 52/52/50 Synthetic would only require selling about a nickel per week to cover max loss. Take the trade with a decent size and get a little bounce could be a nice winner.
#ShortPuts -Throwing this out there in an #IRA ….
Sold REGN APR 20 2018 300.0 Put @ 3.20
#ShortPuts -Throwing these out there in an #IRA ….
Sold XBI MAR 16 2018 83.0 Put @ 2.60
Sold XBI MAR 16 2018 80.0 Put @ 1.68
Sold XBI JUN 15 2018 75.0 Put @ 2.13
#SyntheticStock – Posted on this over the weekend so giving it a try as an experiment. Rolling synthetic core up 50 and front month call up 50 and receiving a 3.07 credit. I’ll wait until after earnings to see if any more adjustment is needed. Assuming the stock doesn’t blast off on earnings, this roll should make the weekly a little more rollable in the future.
Rolled AMZN JUN 21 2019 1050.0/1050.0 Synthetic Stock up to 1100.0 in same expiration @ 48.50 credit
Rolled AMZN JAN 19 2018 1010.0 Call to FEB 16 2018 1060.0 Call @ 45.43 debit
#SyntheticStock – Booking this one before it gets away…another one straight up. Maybe an earnings pullback to re-enter. We can hope!
Sold to Close 190/190/185 synthetic @ 67.80
Bought to Close 202.5 short call @ 21.60
Net credit to close of 46.20 plus weekly premium of 2.35 for total credit of 48.55
Entered the trade for 41.00 so a nice little 7.55 gain. Could’ve been better but just went up too fast…
#SyntheticStock – Same as BABA but more extreme….giving back a little of the weekly premium I’ve sold but picking up some more upside.
Rolled BIDU JAN 12 2018 237.5 Calls to FEB 23 2018 250.0 Calls @ 2.34 debit.
#SyntheticStock – I don’t mind things going up but does it always have to be STRAIGHT UP? 🙂 Rolling front month short calls up and out.
Rolled BABA JAN 19 2018 180.0 Calls to BABA FEB 9 2018 185.0 Calls @ .37 debit
#PerpetualRollingStrangles – Filled Friday but missed it. This entire position sat inverted for all of 2017 with rarely either side getting taken out. Still made 2.5 times margin required. I’ll keep it going…nice steady theta day after day with little P/L change due to the inversion. 6 contracts each for 4- 5k margin…
Rolled TLT JAN 19 2018 127.0 Puts to TLT FEB 16 2018 127.0 Puts @ .75 credit.
Everything now in Feb monthly. 121/123 calls and 127/130 puts. Showing $40 theta per day for 4500 margin with a delta of +12. How did I decide on the position size? Stress tested it through TOS Analyze tab using TLT at 87 and/or 143. Using it’s most extreme values over the last 10 years the risk was satisfactory considering the annual returns.
#ShortStrangles – Earnings not for 2 more weeks but IV still hanging in there this week for some reason. Squeezing the strangle in a little for additional premium. Expires Friday…
Rolled 350 put to 370 for 2.75 credit.
Now sitting at 370/400 @ 8.75
#RocketManHedge – Core position in March…selling against it.
Bought to Close SPX JAN 10 2018 2700.0 Put @ .35 (sold for 11.70 net after a roll up)
Sold SPX JAN 17 2018 2725.0 Put @ 5.00
Scroll to the very bottom for the Cliff’s notes if you’d like… 🙂 🙂
#SyntheticStock #Fuzzy – While criss crossing the country this week I’ve had plenty of time to think about things (besides the mountains around Eagle CO and the cyclone in NYC…LOL)
I’ve got a couple synthetic long positions where the weekly call sale has gone ITM. Not surprising in this market but still annoying. Most of the trades are still profitable but it’s more fun when they are REALLY profitable. So…what can I do once they’re so DITM that rolling up and out becomes nearly impossible?
I’m going to use my most extreme example here…
Currently holding AMZN Jun 2019 synthetic short at 1050. It started out as 1000 synthetic but I rolled up a couple months ago to bring a little cash back in. For quite awhile I was selling weekly calls around the 950 to 1000 level while AMZN chopped around down there. They then had an earnings surprise and stock took off and hasn’t stopped since.
My current short call is Jan 2018 monthly at 1010. Obviously DITM so what can I do?
When looking at the overall position and imagining this at expiration, my profit is capped at the level of the short call so the goal is to get that as high as possible.
My plan is to roll the synthetic up to a level I’m comfortable with as far as AMZN support goes. Then…take the credit and use it to roll the ITM short call up. This accomplishes two things. First, the call can be rolled for around even and up a slightly greater distance than the synthetic moves up. Secondly, the short call becomes less DITM so it becomes more rollable in the future (that’s the most important thing I think).
So…what’s the risk? An AMZN implosion is the risk…LOL. For now I’m not rolling up the disaster put since the DITM short call actually provides a nice hedge of it’s own on pullbacks. If the short call were to become out of the money then that might be a signal to ease the disaster put up. Until then, I’m not wasting cash on it.
Hopefully I’ve explained this ok. Other than the free fall of the stock, are there other risks I’m not seeing or considering? It seems to be a reasonable shot at capturing further upside with limited risk increase. I haven’t run the numbers yet on cheaper stocks but looking at VRX now…
Long story short…roll up the synthetic and use the credit to roll up the DITM call IF and only IF you’re confident in the stock holding it’s upside move.
#IRA #ShortPuts – Freeing up some margin in the IRA. With earnings season cranking up hopefully get a chance for some more #FallingKnife trades…
Bought to Close DGX May 18 2018 80.0 Put .52 (sold for 2.20)
Bought to Close GIS Apr 20 2018 47.5 Puts @ .25 (sold for 1.62)
Bought to Close NVDA MAR 16 2018 150.0 Put @ .41 (sold for 3.69)
#ShortPuts #IRA – Going back into this one…
Sold WDC APR 20 2018 75.0 Put @ 2.80
Sold WDC APR 20 2018 72.5 Put @ 2.10
Sold WDC APR 20 2018 70.0 Put @ 1.55
#RocketManHedge – This was the first one I tried as an experiment. Went synthetic short for this one using Jan monthly. Never moved in my favor from the very first day. Just closed the synthetic short position at max loss of 50 points. But…weekly put sales brought in a surprising 56.3 points.
Completely out of it now with a 6.30 winner. Similar trade in March that will hopefully turn out ok. It hasn’t exactly been moving in my favor either…LOL
#SyntheticShort – Out most of yesterday afternoon and late into the night. Managed to beat the cyclone into JFK. Get me back to Florida please! Just a beautiful day here. Had a fill yesterday adding to NUGT short and closed front month short puts this morning.
Added Jan 2019 32/32/34 synthetic short/disaster calls @ 9.40 (previously 10.08 at same strikes)
Bought to Close NUGT JAN 5 2018 29.5 Puts @ .03 (sold for .36)
#SyntheticStock – Another roll up. Keeping this one ahead of earnings as well and picking up another 2.45 of upside.
Rolled NVDA JAN 5 2018 200.0 Calls to NVDA JAN 19 2018 202.5 Calls @ .05 debit
#SyntheticStock – Paying a small debit to keep this roll prior to earnings. Still picking up 2.20 of upside.
Rolled BABA JAN 5 2018 177.5 Calls to JAN 19 2018 180.0 Calls @ .30 debit
#ShortStrangles and #PerpetualRollingStrangles – Finally pulling back so pairing my short puts up with the 140 strike calls. 30 points inverted with 27.20 premium received all together. Goal now is to start squeezing the inversion in a little or with enough of a pullback roll the calls up and take stock at a 142.80 basis.
Rolled WYNN JAN 5 2018 170.0 Puts to JAN 19 2018 170.0 Puts @ .40 credit
#RocketManHedge – Still chipping away at this since it looks like the Rocket Man will become a powerful and respected leader throughout civilization… 🙂 🙂
Rolled SPX JAN 10 2018 2660.0 Put to JAN 10 2018 2700.0 Put @ 5.20 credit
Letting my Jan hedge run to expiration with about a 6 point profit…
#CoveredCalls – Rolling up and out. TOS estimates earnings in the week I rolled into so IV was up a little. I think it will be the week after so might get a second shot at the earnings roll.
Rolled SWKS JAN 5 2018 98.0 Calls to JAN 19 2018 100.0 Calls @ .40 credit
#Cryptocurrency – Added ADA (Cardano) tonight and still holding IOTA. Also added a new one called Stellar (XLM). Verge (XVG) is another one that could be a lottery ticket at 13 cents. Out of everything else…gains so far of about 12k. Very small percentage of that still invested so rolling dice with a small amount of house money here.
ETH – Bought at 167 sold at 699
LTC – Bought at 59 sold at 218
RPX – Bought at .26 sold at 2.12 (could eventually be my biggest regret selling)
IOTA – Bought at 3.87 and holding
ADA – Bought at .77 tonight
XLM – Bought at .67 tonight
EDITED…..added XLM and new mention of Verge.
#ShortCalls #ReverseRolling – This is the last of the short calls. Only naked calls now are next Jan at 235 and 260.
Rolled SVXY JUN 15 2018 165.0 Calls to SVXY JAN 18 2019 45.0/260.0 Strangles @ .70 credit
#ShortCalls #ReverseRolling – Rolling from short calls to aggressive put spreads…
Rolled SVXY JUN 15 2018 155.0 Calls to JAN 18 2019 160.0/135.0 Bull Put Spreads @ .40 credit
#ShortPuts -I’m reverse rolling some more calls that are adding downside risk so closing some short puts that were previous reverse rolls of calls quite awhile back. Strictly risk management here…
Bought to Close SVXY JAN 18 2019 40.0 Puts @ 4.10 (sold for 4.20)
#ShortCalls – Early roll trying to stay out of the way. Next time will be a roll to a strangle if we don’t get a pullback.
Rolled SVXY JUN 15 2018 170.0 Call to JAN 18 2019 235.0 Call @ .42 credit
Zero dark thirty start this morning…just got to the hotel. I see one fill so far…
#SyntheticStock – More weekly trades…
Bought to Close REGN JAN 5 2018 397.5 Calls @ .05 (sold for 1.95)
Sold REGN JAN 12 2018 390.0 Calls @ 3.50
#Commissions – Doesn’t help me a whole lot but if you regularly sling more than a 10 lot it’s a big deal.
====================================================================================
Hello, tastynation!
To start off 2018 just right, we want to thank you for your show of unconditional support and irreplaceable loyalty for tastytrade and tastyworks. You are the reason we’re driving change to the financial industry. We’ve not only planned more of what you love, like more live tastytrade shows in 25 cities, more trading tools, more mind-blowing content, more new daily shows – but also stuff that will leave you thinking, “How’d they do THAT?”
tastyworks introduced zero commissions to close trades on Jan 3rd, 2017. Starting tomorrow, on Jan 2nd, 2018, tastyworks is introducing capped commissions for large option trades. This means the most commission you will pay for any single leg option trade is $10* (plus clearing fees). That’s right, just $10* per leg!
Eighteen years ago, when we built thinkorswim, 100 option contracts to open and close was $300+. At the time, we thought $1.50 per contract was cheap. Today, the industry average per contract is about $.70 plus a small ticket charge. So, 100 option contracts today is approximately $150 to open and close at most firms. With tastyworks’ new rate schedule, the same trade will cost $10 in commissions to open, zero in commissions to close and a $20 clearing fee for a total of $30. Compare that rate to any other firm on the planet and remember how good our technology and content is as well. Fees for small options trades (10 contracts or less) stay the same.
But we’re not done. As an added bonus, tastyworks will have twelve monthly drawings for funded accounts (minimum of $2,000) and each month, one customer will win free commissions for 5 years. And no, we haven’t lost our minds. We simply want to do something special and this is just the start.
On the technology side, tastyworks is releasing a new analysis tab, portfolio margin, options on futures, paper trading, an open API, a new scripting language and lots of new mobile features.
So thank you again for the incredible engagement over the past year. You have helped to make tastytrade and tastyworks one of America’s fastest growing financial innovators.
Scott / Woody & the tastyworks team
Kristi / Tom & the tastytrade team
#Cryptocurrency never closes. Not sure why this thing spiked today but just can’t pass up these kinds of returns in a few weeks.
Sold 3900 XRP @ 2.12 (bought for .26)
Definitely a happy new year!
#IRA #ShortPuts – Just in case things get crazy first part of next year I’m booking some winners and getting ready to re-load. This is a small IRA that I use for SVXY only so overall these are nice gains on a smaller account.
Bought to Close SVXY JAN 19 2018 75.0 Put @ .62 (sold for 2.80)
Bought to Close SVXY FEB 16 2018 60.0 Put @ .98 (sold for 2.88)
Bought to Close SVXY MAR 16 2018 60.0 Put @ 1.68 (sold for 3.40)
#SyntheticStock – Rolling up and out…
Rolled HIMX DEC 29 2017 10.5 Calls to JAN 12 2018 11.5 Calls @ .03 credit
#SyntheticStock – Rolling out and up…
Rolled EWZ DEC 29 2017 39.5 Calls to JAN 19 2018 40.0 Calls @ .06 credit
#SyntheticStock – More weekly sales…
Bought to Close BIDU DEC 29 2017 237.5 Calls @ .08 (sold for 1.55)
Sold BIDU JAN 12 2018 237.5 Calls @ 2.78
Just for fun taking a shot at JC’s suggestion. Low risk high reward…
Bought AMZN Jan monthly 1110/1100/1090 put butterflies @ .22
That’s risk 22 to make 978 but very low probability IMO…
#ShortPuts – Booking my highest strikes in an #IRA …
Bought to Close TAP Jan 19 2018 77.5 Put @ .30 (sold for 2.05)
Bought to Close TAP Jan 19 2018 75.0 Put @ .15 (sold for 1.42)
Started the #SyntheticShort NUGT trade recently on the gold rally. Silver running too so pulling this one out of the dust bin and watching it again to possibly add a short silver position eventually. Looking at the 36 level for an entry with an add at 40.
#CryptoCurrency -Risk reduction and booking some gains. Tim Knight suggesting it might re-test the 400 breakout level.
Sold to Close ETH (Ethereum) @ 699.00 (Bought for 167.07)
Thanks @Jeff ….I’ll join in with a #ShortStrangles . Worked nicely last time.
Sold AVGO FEB 2 2018 250.0/290.0 Strangle @ 5.00
#IRA – Trimming some risk in an IRA and freeing up a ton of margin. Booking a few that I’m either not happy with or have made a high percentage of max. More to come later…
Bought to Close DISH MAR 16 2018 42.5 Put @ 1.30 (sold for 1.50)
Bought to Close REGN Jan 19 2018 350.0 Put @ 1.80 (sold for 5.90)
#ShortStrangles – Instead of venturing back into NVDA, (still have the #SyntheticStock in a different account) going with one that worked nicely last time and is having a nice down move today. This sale should be well before earnings…
Sold NTES JAN 26 2018 325.0/400.0 Strangle @ 6.20
#ShortStrangles – This one has been a little bit of a hassle. Started as a strangle then became a straddle and then an “inverted calendar”. Picking up nice premium all along so booking and looking to re-center just prior to earnings.
Bought to Close NVDA DEC 29 2017 195.0 Call // JAN 12 2018 197.5 Put @ 7.40 (sold for 11.15 total premium)
#SyntheticStock – Still selling. Rolled a small earnings loser into synthetic for a repair trade.
Bought to Close ADSK DEC 29 2017 107.0 Calls @ .03 (sold for .79)
Sold ADSK JAN 12 2018 106.0 Calls @ 1.24
#RocketManHedge – Watching John Carter’s free video last night…he’s expecting a massive rotation after the first of the year and throwing around downside numbers like 2550 (of course he was super bullish on GLD at 123 around Thanksgiving 🙂 ). Just in case this prediction is a little better I’m giving my hedges a little more room. Booked my last aggressive put sale right at the open today and re-selling a little lower.
Bought to Close SPX DEC 29 2017 2695.0 Put @ 8.50 (sold for 12.10)
Sold SPX JAN 10 2018 2660.0 Put @ 6.50
#SyntheticStock – Squeezing and looking like it wants to go up. Questionable when earnings are but hopefully after where I rolled this. Sitting on a nice profit and picking up another .64 of upside here. May close it all with a break above 35 into the open sky.
Rolled MGM DEC 29 2017 32.0 Calls to FEB 2 2018 32.5 Calls @ .14 credit
#PerpetualRollingStrangles – Still inverted and still rolling. Collecting premium every month…I call it my #SyntheticDividend … 🙂
Rolled TLT JAN 19 2018 121.0 Calls to FEB 16 2018 121.0 Calls @ .22 credit
Rolled TLT JAN 19 2018 123.0 Calls @ FEB 16 2018 123.0 Calls @ .37 credit
And closed a little bonus trade:
Bought to Close TLT JAN 12 2018 125.0/130.0 Strangles @ .64 (sold for 1.35)
#ShortStrangles – Still selling…
Bought to Close AAOI DEC 29 2017 41.0 Calls @ .05 (sold for .85)
Sold AAOI JAN 12 2018 40.0 Calls @ 1.10
#SyntheticStock – With only half size position in BIDU I’m adding half size in BABA. This all adds up to full size position for China…LOL
Bought to Open BABA JAN 17 2020 175.0 Calls @ 34.72
Sold to Open BABA JAN 17 2020 175.0 Puts @ 29.06
Bought to Open BABA JAN 17 2020 170.0 Puts @ 26.42
This gives a net debit of 32.08 for the Jan 2020 position. Add the 5 point max downside and get a max loss possibility of 37.08. Based on that, and the 107 weeks remaining in the trade I only need to average about 35 cents per week in sales to cover the absolute worst case scenario. And…BABA has great weekly premium.
So:
Sold BABA JAN 5 2018 177.5 Calls @ 1.25
#SyntheticShortStock – Rolling short puts out and down to unlock max profit on current position. After the next split will add new shorts in 2019 and 2020 so these puts should be just a small blip on the radar when it’s all said and done.
Rolled UVXY JAN 18 2019 10.0 Puts to JAN 17 2020 5.0 Puts @ 2.74 debit
#SyntheticStock – Taking my own advice with this one. Sold the covered stock on the bounce and rolling it all into #SyntheticStock. Going in at twice the size for only one fifth of the cash required to hold the stock while drastically reducing risk.
Stock was originally assigned at 470.0 and weeks of call selling has reduced that to a 416.70 basis. Sold the covered stock position this afternoon for 381.40. I’ll roll the 35.30 loss into the basis of the synthetic by adding 17.65 to that cost (since synthetic is twice the size).
Bought to Open REGN JAN 17 2020 400.0 Calls @ 74.06
Sold to Open REGN JAN 17 2020 400.0 Puts @ 71.68
Bought to Open REGN JAN 17 2020 390.0 Puts @ 66.62
Net debit of 69.00 plus 10 dollar downside risk plus 17.65 from existing stock position for a total max loss possibility of 96.65. With 107 weeks for the trade to run only need to sell about 90 cents a week to cover entire worst case scenario.
So:
Sold REGN JAN 5 2018 397.5 Calls @ 1.95
#SyntheticShort – Thing’s been on a nice run right up to the 200ma so easing back into a short position. Starting out with about a 40 percent position and going out to Jan 2019. Long GLD so this is a nice hedge that I rode down last time too. I’ll be looking to add the rest of this at NUGT 40 and 45 if we get there…
Sold to Open NUGT JAN 18 2019 32.0 Calls @ 9.04
Bought to Open NUGT JAN 18 2019 32.0 Puts @ 10.69
Bought to Open NUGT JAN 18 2019 34.0 Calls @ 8.43
Net debit of 10.08 with max loss of 12.08. With 55 weeks for the trade to run need to average 22 cents per week to cover worst case scenario.
So:
Sold NUGT JAN 5 2018 29.5 Puts @ .36
#Cryptocurrency – Added to my lottery tickets.
Bought to Open IOTA @ 3.86
Still holding:
ETH @ 160.66 basis (Ethereum)
LTC @ 56.94 basis (Litecoin)
XRP @ .254 basis (Ripple)
All for fun….skipping the blackjack tables next couple times through Vegas 🙂 🙂
Currently in stock with #CoveredCalls but chart looking interesting for going synthetic here. Building a nice base with great weekly premium. Slightly underwater on the stock so looking at rolling into synthetic at double size similar to EWW earlier. Much much lower cash outlay and much much less downside risk on the synthetic.
Been a great ticker this year but odds caught up with me and was early exercised on Jan monthly 54 strike puts. Sold the covered stock on the bounce and rolling it all into #SyntheticStock. Going in at twice the size for only one fifth of the cash required to hold the stock.
Stock when assigned was at a 51.70 basis and sold for 47.65 this morning. I’ll roll the 4.05 loss into the basis of the synthetic by adding 2.03 to that cost (since synthetic is twice the size).
Bought to Open EWW JAN 17 2020 48.0 Calls @ 6.90
Sold to Open EWW JAN 17 2020 48.0 Puts @ 6.79
Bought to Open EWW JAN 17 2020 46.0 Puts @ 5.65
Net debit of only 5.76 plus 2 dollar downside risk plus 2.03 from early exercise loss for a total max loss possibility of 9.79. With 107 weeks for the trade to run only need to sell about 9 cents a week to cover entire max loss.
So:
Sold EWW JAN 12 2018 49.0 Calls @ .34
This was originally a #TakeOneForTheTeam trade. I tried…LOL Seemed to help a little at least. Booking it for good gain and looking to sell similar on next pullback.
Bought to Close SVXY DEC 29 2017 130.0/125.0 Bull Put Spreads @ 1.19 (sold for 2.98 and 2.80)
#SyntheticStock – Taking advantage of the pullback to book this one. Been fighting the front month ITM calls for awhile. Good chance to close it for a nice winner and look to reset possibly after earnings.
Sold to Close AAPL JAN 17 2020 155.0 Puts / 155.0 Calls Synthetic Stock @ 18.10
Sold to Close AAPL JAN 17 2020 145.0 Disaster Puts @ 10.70
Bought to Close AAPL FEB 2 2018 167.5 Calls @ 7.45
Net credit to close of 21.35. Basis in the position after other front month sales was 17.38
Net gain of 3.97 per spread. I’ll take it considering the front month sales have been DITM from almost the very beginning.
I’m done for the day and heading to the other job shortly. Duty calls…plane load wanting to go JFK out to Vail Colorado today. Wish I could stay and ski but it’ll be a short night and back at it tomorrow.
Have a great weekend and a great Christmas!!
#ShortStrangles – Been selling these against Jan 197.5 puts. Killing time until earnings gets here.
Rolled NVDA DEC 22 2017 192.5 Call to DEC 29 2017 195.0 Call @ 1.02 credit.
#ShortStrangles and #PerpetualRollingStrangles – Still selling against Jan 140 strike DITM calls. I may take stock closer to Jan expiration but still just premium collecting for now.
Rolled WYNN DEC 22 2017 170.0 Puts to JAN 5 2018 170.0 Puts @ 1.75 credit
Total credit on these now up to 8.60 and total credit sold against the calls now up to 26.80. The goal will be to get a nice roll up of the calls into earnings with another nice put sale to go along with it. Could close the whole thing for a scratch but trying to keep most of it as the calls get rolled up.
#SyntheticStock – Looks like it’s sell Bitcoin and buy gold now…LOL. Rolling up and out a little with the break above the 200ma.
Rolled GLD DEC 22 2017 120.0 Calls to FEB 2 2018 122.0 Calls @ .25 credit
#RocketManHedge – Final sale on the Jan hedge. Going out to where the short 2570 position is and selling just under it locking in the gains. Could be more though with a pullback below 2575.
Sold to Open SPX JAN 19 2018 2565.0 Put @ 3.60
Max loss was 50 points with total premium received of 56.30…
#Earnings #ReverseRolling – Glad to be out of this at even. Originally was an earnings strangle that took some heat. Rolled the threatened side out to a strangle a few weeks ago. Needed to get out at .30 or less for breakeven.
Bought to Close STMP DEC 29 2017 160.0/195.0 Strangle @ .20
Options Bistro 