#ShortStrangles – Booking it and looking to re-center and re-sell just before earnings.
Bought to Close LRCX JAN 12 2018 160.0/200.0 Strangle @ 1.03 (sold for 4.30)
Author Archives: fuzzballl
NTES
#ShortStrangles – Booking it and looking to re-center and re-sell just before earnings.
Bought to Close NTES JAN 5 2018 315.0/425.0 Strangle @ 1.20 (sold for 5.50)
EWZ
#ShortStrangles – Taking another one off at close to min….
Bought to Close EWZ JAN 5 2018 37.0/43.0 Strangles @ .11 (sold for .82)
AAPL
#SyntheticStock – Looking like #Earnings on Feb 2nd so rolling there. With the help of the higher IV getting another 2 bucks of upside for a small debit. After they announce will have to see what to do then.
Rolled AAPL JAN 19 2018 165.0 Calls to FEB 2 2018 167.5 Calls @ .41 debit
Using some of my front month premium sales to pay the debit. Still have 1.86 in the bank for future rolls.
SPX
#RocketManHedge – This should get us the pullback we need… #TakeOneForTheTeam … since my ITM SVXY put spreads aren’t helping let’s try something new. Selling against my March hedge.
Bought to Close SPX DEC 22 2017 2670.0 Put @ .95 (sold for 9.20)
Sold SPX DEC 29 2017 2695.0 Put @ 12.10
EDIT…ITM SVXY put spreads…
SPX
#RocketManHedge – This was sold against my Jan hedge. Max loss more than covered now. Waiting on some weakness for one last sale…
Bought to Close SPX DEC 22 2017 2640.0 Put @ .20 (sold for 3.70)
AVGO
#ShortStrangles – Bought to Close AVGO DEC 29 2017 250.0/290.0 Strangle @ .30 (sold for 3.10)
ADSK
#SyntheticStock – Here’s the details on the early assignment long stock roll to synthetic trade repair…
Sold ADSK JAN 18 2019 105.0 Puts @ 13.78
Bought ADSK JAN 18 2019 105.0 Calls @ 16.01
Bought ADSK JAN 18 2019 100.0 Puts @ 11.36
This gives a net debit of 13.59 for the Jan 2019 position. Add the 5 point max downside and get a max loss possibility of 18.59. Add the loss of 9.62 from the rolled position and max risk jumps to 28.21.
Based on that, and the 56 weeks remaining in the trade I need to average about 50 cents per week in sales to cover the absolute worst case scenario. I’m currently using an equal size trade as the previous one but considering doubling the size to possibly sell more conservative weeklies and/or get back to even sooner.
So:
Sold ADSK DEC 29 2017 107.0 Calls @ .79
TLT
#PerpetualRollingStrangles – Missed out a couple days ago on covering my short puts that I’ve been rolling forever. Could’ve booked them at nearly 80 percent of max. Got greedy and held. Of course now TLT is tanking so it’s back to rolling along inverted until one side gets taken out. Either way, should still be close to 150 percent gain on margin for the year.
Yesterday:
Rolled 130 puts to Feb for .51 credit
Rolled 127 puts to Jan for .42 credit
ADSK
#ShortStrangles – Assigned early on some ITM puts. To reduce margin and downside risk I’ve covered the entire position and rolled it into Jan 2019 #SyntheticStock . Stock is really weak and I doubt if covered call writing will keep up if it really implodes. This buys some time and makes for a much more relaxed (and safer) way to evenyually turn this into a winner. I’ll post the whole thing later but long story short…will only require selling about 35 cents a week to cover worse case scenario.
SWKS
#CoveredCalls – Assigned early on Jan monthly puts…I’ve got a stop on next weeks short calls @ 25 percent of max so selling the next round a little early.
Sold SWKS JAN 5 2018 98.0 Calls @ 1.25
SVXY
#ShortPuts – Last of the cheapies gone…
Bought to Close SVXY JAN 19 2018 42.5 Put @ .25 (sold for 2.10)
CSX
Not going to be around much this week but CSX setting up for possible #Fuzzy …
SPX hedge in March
#RocketManHedge – Moving from Monday out and up to next Friday. New sale is aggressive at the same strike as my synthetic short…
Bought to Close SPX DEC 18 2017 2650.0 Put @ .85 (sold for 5.40)
Sold SPX DEC 22 2017 2670.0 Put @ 9.20
ADBE fat finger
#Earnings – This would’ve been almost a perfect position…..IF I would’ve sold the correct week. Oops…sold next week instead. A mistake but a small winner! Get ’em next time.
Bought to Close ADBE DEC 22 2017 172.5/177.5/182.5 Iron Fly @ 3.50 (sold for 4.10)
ADBE
#Earnings – Risk 90 to make 410. Going slightly bullish due to lack of dollar wide strikes. 5 wide with a 6.70 expected move.
Sold ADBE DEC 22 2017 172.5/177.5/182.5 Iron Fly @ 4.10
SVXY
#ShortPuts #IRA – Cue up the chicken! I may look crazy closing some of these but there’s a couple reasons I do it. It all goes back to a golf tournament a couple years ago. Had sketchy cell phone service and late for Thursday tee time. Glanced at my phone and managed to see a short REGN call worth a dime prior to the open. Blew it off and an hour later up on a hill got service back and the thing was worth over 10 dollars after massive opening rally. No more for Fuzzy…
And trying to stay within my self imposed strict margin limits…
Bought to Close SVXY DEC 15 2017 90.0 Put @ .04 (sold for 2.46)
BIDU
#SyntheticStock – Another week…I’ll keep the position even though Dan over at OMM is shorting anything in site tech related that’s broken down. He could be right if these dead cat bounces roll over.
Bought to Close BIDU DEC 15 2017 240.0 Calls @ .05 (sold for 4.85)
Sold BIDU DEC 29 2017 237.5 Calls @ 1.55
EDIT…of course he’s buying TSLA calls today after the stock fired out of a daily squeeze four days ago and is up 15 percent in a week. It could very well work too but not my cup ‘a tea…
EWZ
#SyntheticStock – Another week…
Bought to Close EWZ DEC 15 2017 39.5 Calls @ .06 (sold for .72)
Sold EWZ DEC 29 2017 39.5 Calls @ .33
SPX
#RocketManHedge #FuzzyBear – This is my first one that expires in Jan. Gradually scaling back to slightly more conservative selling. Moving this from next Monday to Friday…
Bought to Close SPX DEC 18 2017 2625.0 Put @ .50 (sold for 5.40)
Sold SPX DEC 22 2017 2640.0 Put @ 3.70
Original position sitting at max loss of 50 points. Total premium received is now 57.70 with another month to run…
WDC
#ShortStrangles #BullPutSpreads – Taking some risk off on the bounce to resistance. Watching to re-enter possibly as #SyntheticStock …
Bought to Close WDC JAN 19 2018 85.0/80.0 Bull Put Spreads @ 2.19 (sold for 3.75)
Bought to Close WDC DEC 29 2017 82.5 Puts @ 1.33 (sold for 1.55)
ADSK
#ShortStrangles – Former earnings trade slightly underwater but not by much…replacing this week’s.
Bought to Close ADSK DEC 15 2017 109.0 Calls @ .05 (sold for 1.21)
Sold ADSK DEC 29 2017 109.0 Calls @ 1.14
NVDA
#ShortStrangles – Had a strangle that became a 200.0 straddle @ 7.75 credit received. Couldn’t quite work it’s way back to even so rolling put out and down and selling weeklies against it.
Rolled NVDA DEC 15 2017 200.0 Put to JAN 12 2018 197.5 Put @ .37 credit
Bought to Close NVDA DEC 15 2017 200.0 Call @ .04 (part of the straddle sold for 4.57)
Sold NVDA DEC 22 2017 192.5 Call @ 2.05
AAOI
#ShortStrangles – Slow and steady working my way back…
Bought to Close AAOI DEC 15 2017 42.5 Calls @ .05 (sold for 1.15)
Sold AAOI DEC 29 2017 41.0 Calls @ .85
TSLA
#ShortStrangles – I don’t think it’s going to zero so balancing out my 500 and 510 short calls…
Sold TSLA JUN 15 2018 180.0 Put @ 1.95
ISRG
#ShortStrangles – Short term but aggressive. Counting on the 100ma and the all time highs to contain this. This is also a couple weeks before next earnings…
Sold ISRG JAN 12 2018 350.0/400.0 Strangle @ 6.00
REGN
#CoveredCalls – Pounded this thing all the way down. It’s now back above the 20ma and looking like it could continue. Getting out of the way but keeping it just short of next earnings. Saving the high IV for another roll if needed.
Rolled REGN DEC 29 2017 385.0 Call to REGN JAN 19 2018 400.0 Call @ .53 debit
NVDA
#SyntheticStock #IRA – Trying to be careful here but it’s very possible this thing could be at 300 in a week after my sale. 🙂 Dan over at OMM just put on a Jan monthly 200/220 BeCS so I’m using his short strike but bringing it in a couple weeks. This particular trade only needs 42 cents a week to insure breakeven.
Bought to Close NVDA DEC 15 2017 197.5 Calls @ .14 (sold for 1.50)
Sold NVDA JAN 5 2018 200.0 Calls @ 1.57
NUGT
#SyntheticShort – This was another one that got run over to the downside. Learning my lesson here…LOL With it starting to bounce a little I’m booking it for a small profit and looking to reset on the next run higher.
Sold to Close NUGT 42 synthetic short and 47 disaster calls
Bought to Close NUGT 20 puts
These were all in the same expiration since I had rolled the short puts out and down after the initial imoplosion (right after setting the trade of course!)
All said and done made 50 cents on a 10 lot but learned a whole lot more! Now I’m a cheerleader….gold to 1500!
SVXY
#VXXGame #ShortCalls #ReverseRolling – Various adjustments in SVXY today. Mainly getting the short calls to slightly safer areas…
Reverse Rolled SVXY MAR 16 2018 135.0 Call to SVXY JAN 18 2019 25.0/235.0 Strangle @ .20 credit
Rolled SVXY MAR 16 2018 140.0 Call to JUN 15 2018 165.0 Call @ .13 credit
Rolled SVXY MAR 16 2018 145.0 Call to JUN 15 2018 170.0 Call @ .70 credit
GLD
#SyntheticStock – Getting a tiny bounce today…selling next week’s…
Bought to Close GLD DEC 15 2017 122.0 Calls @ .03 (sold for .23)
Sold GLD DEC 22 2017 120.0 Calls @ .27
VXX 2020
#LEAPS – Is anyone showing these available?
RIOT not quiet
Any idea what this thing is. Awesome IV! Must be something crypto related…
SVXY
#TakeOneForTheTeam – Let’s see if this works…
Sold SVXY DEC 29 2017 130.0/125.0 Bull Put Spread @ 2.98
SPX hedge through March
With my current #RocketManHedge looking like it has a good chance of turning a decent profit ( in spite of moving against me from almost the first day) I’m adding another out about 90 days. This one is slightly more expensive since I’m setting up a little above the market but giving it a couple extra weeks to make up the difference.
#SyntheticShort -A little hedge out through March expiration…
Synthetic short stock with a protective call. 49.00 debit with max loss of 54.00:
Sold SPX MAR 16 2018 2670.0 Call @ 46.23
Bought SPX MAR 16 2018 2670.0 Put @ 51.97
Bought SPX MAR 16 2018 2675.0 Call @ 43.26
Need to collect 4.15 per week to cover the max loss so:
Sold SPX DEC 18 2017 2650.0 Put @ 5.40
Selling Monday and then looking to double up on the following Friday…
NTES
#ShortStrangles – I tried doing one of these in ISRG yesterday but couldn’t get a decent fill. I definitely agree with @smasty ‘s view on the market makers in ISRG. They’ll squeeze you for every penny. So..I’m stealing one of her tickers that looks interesting with decent premium. My first time in this one as far as I can remember.
Going out a few weeks but definitely before next earnings…
Sold NTES JAN 5 2018 315.0/425.0 Strangle @ 5.50
WYNN
#ShortStrangles – Won’t stop going up. Still no luck getting any stock so let’s go extreme. If I can get stock then I can work on rolling the calls up. In fact looking at spending some of this premium to roll the DITM calls up 5 points. That would leave the position at 170/140 inverted with about 28 dollars of premium received.
Bought to Close WYNN DEC 15 2017 160.0 Puts @ .53 (sold for 6.85)
Sold WYNN DEC 22 2017 170.0 Puts @ 6.03
SVXY
#ShortPuts -Another one off the bottom…only one more of the pre-split positions left.
Bought to Close SVXY JAN 19 2018 37.5 Put @ .25 (sold for 1.10)
SVXY again
#VXXGame #ReverseRolls – Now that I’ve added some new put spreads with reverse rolls I’m taking off some others that were former reverse rolls. Really taking some risk off allowing some more sales if we ever get a pullback.
Bought to Close SVXY JAN 19 2018 100.0/95.0 Bull Put Spreads @ .79 debit (sold for 3.60)
I’ll take that since these were all rolled up calls at one point….good riddance!
SVXY
#ShortCalls #Rolling #ReverseRolling – This thing is relentless. I’m rolling some Jan short calls early. A combination of reversing into bull put spreads and rolling up and out. This gives March and June 120/105 bull put spreads with short calls above them. Is that a #CoveredBullPutSpread ?? 🙂 🙂
These add to some previous rolls to similar positions…
Rolled SVXY JAN 19 2018 122.5 Call to JUN 15 2018 165.0 Call @ .40 credit
Rolled SVXY JAN 19 2018 122.5 Call to JUN 15 2018 120.0/105.0 Bull Put Spread @ .50 credit
Rolled SVXY JAN 19 2018 125.0 Call to MAR 16 2018 140.0 Call @ 1.19 credit
Rolled SVXY JAN 19 2018 125.0 Call to MAR 16 2018 145.0 Call @ .29 debit
MGM
#SyntheticStock #IRA – Didn’t want to do this yet but ex-dividend today and ITM so taking it out a couple weeks to be safe. Should be the last one today…
Rolled MGM DEC 15 2017 32.0 Calls to DEC 29 2017 32.0 Calls @ .22 credit
WYNN
#ShortStrangles – Getting weak this afternoon so going ahead with the roll for another week. Still selling against DITM short calls. Raising basis on those. Another one I’ve been in all year just rolling around so let’s call it a #PerpetualRollingStrangles now. It’s in third place YTD trailing only TLT and NVDA in this account. Up 100 percent on margin. Overall SVXY and UVXY near the lead too as usual.
Rolled WYNN DEC 8 2017 160.0 Puts to DEC 15 2017 160.0 Puts @ 1.60 credit
SVXY UVXY VXX
#VXXGame – New ATH and ATL across the board…like a broken record or groundhog day…LOL
NVDA
#SyntheticStock – In an #IRA so can’t double sell. Need to close then open.
Bought to Close NVDA DEC 8 2017 195.0 Calls @ .03 (sold for only .48 since it was just 2 days.)
Sold NVDA DEC 15 2017 197.5 Calls @ 1.50
WDC
#ShortStrangles #ReverseRolling – Screwed the pooch on my roll to inverted by being impatient so reverse rolling calls into low risk put spreads for a credit. Going directional since it’s one I wouldn’t mind trading around for awhile. Went inverted on the original strangle WAY too early.
Rolled WDC DEC 29 2017 79.5 Calls to JAN 19 2018 85.0/80.0 Bull Put Spreads @ .43 credit.
This is another one of those where it doesn’t really matter to me how low it goes. With 3.80 of accumulated premium on the 5 wide spread the worse case scenario is owning the stock at a basis only 1.20 above where it happens to be at expiration…(as long as I book the long put gains late on expiration day and let the shorts get exercised)
Still holding short 82.5 puts from original strangle….
BIDU
#SyntheticStock #IRA – Weekly sale not quite going to expire today…
Rolled BIDU DEC 8 2017 235.0 Calls to DEC 15 2017 240.0 Calls @ .40 credit (4.85 accumulated premium on this one)
SVXY
#ShortPuts – Bottom of the Jan ladder starting to get taken out…
Bought to Close SVXY JAN 19 2018 35.0 Puts @ .25 (sold for 1.28)
TOS range bars
Thank you @hcgdavis for pointing these out! Even without day trading I think these are going to help a lot with entries. Had I been watching them could’ve easily waited a little before selling that SPX put. When red turns green sell it!
BTW…just swing trading the second bar of a color change on a slow mover like BIDU since Dec 1st would’ve made (you do the math) on 200 shares. I know…woulda coulda shoulda but something I’ll be watching…especially for catching some reversals on XIV and SVXY on those crazy days.
SPX
#RocketManHedge – Booking and selling…this sale completes the covering of max loss on the hedge with another month to run. After this I’ll start giving it a little more downside room. Make a little but keep a strong hedge though Jan expiration.
Skipping Friday since it only trades thru Thursday close. Selling the following Monday instead.
Bought to Close SPX DEC 8 2017 2625.0 Put @ .15 (sold for 7.10)
Sold SPX DEC 18 2017 2625.0 Put @ 5.40
ADSK
#ShortStrangles – An #Earnings play that turned into strangles. Oversold the call side and now seeing a nice bounce. Booking this week’s.
Bought to Close ADSK DEC 8 2017 111.0 Calls @ .27 (sold for .85)
AAOI
#ShortStrangles – If there’s one thing I’ve learned this year (it’s lead to my 3 biggest losers of 2017) is to not chase short puts up on a rising stock too aggressively. A massive whipsaw can ensue leading to chaos. OK…maybe that’s a little dramatic but…making a big adjustment, limiting downside risk, and settling in for the long haul of selling weeklies to get back to at least even.
Rolled AAOI JAN 19 2018 80.0 Puts to JAN 18 2019 80.0 Puts @ 5.17 credit
Bought AAOI JAN 18 2019 20.0 Puts @ 3.20
Pocketing nearly 2 bucks on the roll/protection. Now…I’m limited to a 60 point loss and I’m free to sell non-aggressive weeklies without worry of max loss (bankruptcy?…don’t trust these types of places)
So far I’ve accumulated 25.40 in premium to this point so still 34.60 in the hole if it goes to zero (less than that if it recovers over the next year). Using the 34.60 as max loss and 58 weeks to I’ll be looking to sell about 60 cents a week. It’s a long haul but worth it to turn around a loser if I can.
BTW…TDA margin is 975 on 3 contracts to hold this trade so not a big deal..
BTC (Bitcoin)
AVGO
$ShortPuts – Selling the put side on the little dip and looking to leg into the #ShortStrangles . Fairly short time frame with a holiday mixed in and could be a little residual IV left over from earnings also.
Sold AVGO DEC 29 2017 250.0 Put @ 1.90
AVGO
#Earnings – Taking advantage of the little pullback to book the winner. I might be early…or not 🙂
Bought to Close AVGO DEC 8 2017 255.0/265.0/275.0 Iron Fly @ 5.69 (sold for 7.82)
AVGO earnings
#Earnings – I’ve got the AZO winner in the bank so rolling the dice on all my RH profits with a defined risk iron fly 10 wide with an expected move of 11.75. Risk about 2 to make 8. Leaning slightly bullish with the stock sitting at support.
Sold AVGO DEC 8 2017 255.0/265.0/275.0 Iron Fly @ 7.82
BTC…where does this end?
https://www.cnbc.com/2017/12/06/bitcoin-tops-13000-surging-1000-in-less-than-24-hours.html
NVDA
#SyntheticStock -Been waiting for some sort of a pullback to get in this long term Whiz style (although he prefers the #LongCallDiagonals for some reason).
Sold NVDA JAN 17 2020 190.0 Puts @ 37.75
Bought NVDA JAN 17 2020 190.0 Calls @ 43.70
Adding tight disaster puts. If it implodes I’ll roll this down and re-invest the profits back into more longs.
Bought to Open NVDA JAN 17 2020 185.0 Puts @ 35.05
This gives a net debit of 41.00 for the Jan 2020 position. Add the 5 point max downside and get a max loss possibility of 46.00. Based on that, and the 110 weeks remaining in the trade I only need to average about 42 cents per week in sales to cover the absolute worst case scenario. And…NVDA has great weekly premium.
Sneaking my first sale in this week to cover the small DIS loss:
Sold NVDA DEC 8 2017 195.0 Calls @ .48
HSIC
#ShortPuts #IRA – Already dealing with UAA so keeping this one on a short leash with the AMZN rumor today. One contract small loss and moving on. I’d re-post the chicken if it wasn’t so big!
Bought to Close HSIC Apr 20 2018 60.0 Put @ 1.95 (sold for 1.75)
Trading DIS for NVDA
#SyntheticStock – As @1strangealien and I were discussing down below I’ve bailed on DIS for a small loss and established a new position in NVDA (one of my favorites). Decent liquidity and great premium for weekly selling against the long term position.
DIS details: (I’ll post seperately with the NVDA details)
Sold to Close Jan 2020 100 strike synthetic stock @ 6.90
Sold to Close Jan 2020 90 strike disaster puts @ 5.50
Bought to Close Jun 2018 105 calls @ 6.70
Net credit of 5.70 plus front month premium received of .40 so 6.10 total. Cost to enter the trade was 6.63 so final numbers work out to a loss of .53. I’ll roll that into my NVDA cost and have it made up this week. LOL Hate a loser but really wanted a crack at NVDA so happy to close it.
ADSK
#ShortStrangles – Getting a jump on next week in case the 200ma doesn’t hold. Selling weeklies to lower basis in Jan 120 puts..
Sold ADSK DEC 15 2017 109.0 Calls @ 1.21
EWW
#ShortStrangles – Booking a little and a delta adjustment. Still slightly long…
Bought to Close EWW DEC 15 2017 51.0 Calls @ .19 (sold for 2.05)
Sold EWW DEC 22 2017 49.0 Calls @ 1.15
Selling weeklies against Jan 54 puts
LRCX
#ShortStrangles – First time in this one. Staying small…
Sold LRCX JAN 12 2018 160.0/200.0 Strangle @ 4.30
SWKS
#ShortStrangles – Rolling down to slightly inverted…
Rolled SWKS DEC 29 2017 118.0 Calls to SWKS DEC 29 2017 100.0 Calls @ .90 credit
Position is now 103/100 inverted strangles @ 2.73
RH
#Earnings – No interest in even taking a chance of getting any stock. Kind of a weak open so bailing with good profit. Thanks Jeff!
Bought to Close RH DEC 8 2017 90.0/120.0 Strangles @ 1.05 (sold for 2.40)
AAL “insider trading” ?
Not sure if anyone has seen our headlines lately. Long story short…technical glitch allowed pilots system wide to drop trips in December that normally wouldn’t be allowed. Now we are looking at tons of open flying that nobody seems interested in even after the company offer of double time to pick them up. I believe the company is downplaying the severity of this to preserve holiday bookings…
https://www.cnbc.com/2017/11/29/thousands-of-american-airlines-flights-dont-have-scheduled-pilots-union.html
https://www.npr.org/sections/thetwo-way/2017/12/01/567903691/american-and-pilots-work-out-deal-to-save-holiday-flights
https://www.usatoday.com/story/travel/flights/todayinthesky/2017/12/05/pilot-scheduling-mix-up-could-cost-american-10-million-analyst-estimates/922432001/
I could be totally wrong too. I hope so since I’m on call over Christmas and New Year’s…LOL But…if we get a little news story about how maybe everything isn’t as it may seem, I’m going to take a low risk shot at some downside using the @vxxkelly butterfly hedge. Tiny risk for possibly decent reward. I don’t see an implosion but possibly a small pullback so love the idea of trying to do it for a credit.
Have to double check the numbers when the market is open but right now the 49/47/45 or 48/46/44 looks like pretty good risk/reward.
FWIW…
RH
#Earnings – Rode “Jeffretariat” to a pole to pole winner at the AZO derby so saddling him up again for a run in the RH stakes. Can he do it back to back?
Sold RH DEC 8 2017 90.0/120.0 Strangles @ 2.40
EWZ
#ShortStrangles – Been working this one for awhile as a #PerpetualRollingStrangles trade and had it narrowed down to a Dec monthly short straddle. The price is at the straddle strike today so taking the opportunity to book it for decent profit and re-sell and re-center.
Bought to Close EWZ DEC 15 2017 40.0 Straddles @ 1.93 (sold for 2.72)
Sold EWZ JAN 5 2018 37.0/43.0 Strangles @ .82
TLT
#PerpetualRollingStrangles – This is almost a freebie since the sales are near my inverted strikes. Selling 50 ma and above recent highs…
Sold TLT JAN 12 2018 125.0/130.0 Strangles @ 1.35
GLD
#SyntheticStock – Selling next week early. Order in to close this week at a penny. Very conservative on these weekly sales now. This particular trade only needs about 12 cents a week to cover max loss. Struggling so far but….synthetic short stock position on NUGT working nicely!
Sold GLD DEC 15 2017 122.0 Calls @ .23
AZO
#Earnings – Margin hog so taking off for a nice winner. Frees up my earnings firepower for AVGO tomorrow…
Bought to Close AZO DEC 8 2017 625.0/775.0 Strangle @ .91 (sold for 6.20)
AAPL
#SyntheticStock – Rolling front month back out to 45 days and just before earnings. Could possibly get one more nice roll into earnings week…
Rolled AAPL DEC 22 2017 162.5 Calls to JAN 19 2018 165.0 Calls @ .35 debit.
Debit roll but picking up another 2.15 of upside. Front month premium received now reduced to 2.60
NVDA
#ShortPuts #IRA – Adding another one….
Sold NVDA MAR 16 2018 150.0 Put @ 3.69
REGN
#CoveredCalls – Showing some signs of life. Pounded it all the way down so trying to get out of the way for the rise from the ashes. Easing this up for now…
Rolled REGN DEC 15 2017 380.0 Call to DEC 29 2017 385.0 Call @ .20 credit
DIS
#SyntheticStock – Rolling up and out for a small debit but picking up 3.70 more upside. DIS has lousy strikes for rolling…5 wide in the monthlies. This is another bigly profit blocked by front month calls. From now on I’m changing my attitude about these. Instead of going for aggressive max premium on the weekly sales I’m going to be much more conservative.
When I set these trades up it usually works out where only very small weekly sales are needed to cover any max potential loss since they are all hedged. Let’s say 15 cents is all that’s required each week. I’ll limit myself to 30 cents on the sales which would still be a double long term but would also leave plenty of upside room for these runaway trains…
Rolled DIS DEC 29 2017 100.0 Calls to JUN 15 2018 105.0 Calls @ 1.30 debit.
NVDA
#ShortStrangles – Rolling call side down a little for additional premium…
Rolled NVDA DEC 15 2017 210.0 Call to DEC 15 2017 200.0 Call @ 1.50 credit.
Position is now Dec monthly 200 Straddle @ 7.75
Options Bistro 