#SyntheticStock – Aggressive sale so if these catch any heat my AAPL should be looking good…
Bought to Close MU FEB 2 2018 44.5 Calls @ .18 (sold for .60)
Sold MU FEB 9 2018 43.0 Calls @ .98
Author Archives: fuzzballl
NUGT
#SyntheticShortStock – Only hedged on half the core but rolling it down a little anyway…
Rolled NUGT FEB 9 2018 32.5 Puts to NUGT FEB 16 2018 32.0 Puts @ .14 credit
WYNN
#ShortStrangles – Nice gain in 24 hours…I’ll book it.
Bought to Close WYNN FEB 16 2018 140.0/180.0 Strangles @ 2.29 (sold yesterday for 3.95)
/VX VIX Futures
#Futures – Scalp good for a half point…
Sold /VXG8 @ 14.25
Bought /VXG8 @13.75
URI Earnings
#Earnings -Missed my chance to close this a couple days ago. Unloading it here for breakeven and covering commissions…
Bought to Close URI FEB 9 2018 172.5 Puts @ 2.20 (sold for 2.25)
NFLX
#ShortStrangles – Let’s see if the gap holds…
Sold NFLX FEB 16 2018 260.0/340.0 Strangles @ 3.30
CELG
#SyntheticStock – Saw it on @smasty ‘s update and like the looks of it. Nice income and a tight squeeze also. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold CELG JUL 20 2018 105.0 Puts @ 9.08
Bought CELG JUL 20 2018 105.0 Calls @ 8.28
Bought CELG JUL 20 2018 100.0 Puts @ 6.65
This gives a net debit of 5.85 for the Jul 2018 position. Add the 5 point max downside and get a max loss possibility of 10.85. Based on that, and the 24 weeks remaining in the trade I only need to average about 45 cents per week in sales to cover the absolute worst case scenario.
So:
Sold CELG FEB 9 2018 106.0 Calls @ 1.11
WYNN
#ShortStrangles – IV still hanging in there. I’ll take a starter to see where it goes…
Sold WYNN FEB 16 2018 140.0/180.0 Strangles @ 3.95
SVXY
#SyntheticStock – Going for a double dip this week…
Bought to Close SVXY FEB 2 2018 138.0 Call @ .05 (sold for 1.80)
Bought to Close SVXY FEB 2 2018 136.0 Calls @ .09 (sold for 1.40)
Sold SVXY FEB 2 2018 128.5 Calls @ .93
AAOI
#SyntheticStock – Added a synthetic stock position on Friday (Jan 2019 35/35/30) and still keeping my other repair trade. Any decent bounce and maybe I can get out of this sooner. Not happening today though…
Bought to Close AAOI FEB 2 2018 37.5 Calls @ .05 (sold for .35)
Sold AAOI FEB 9 2018 35.0 Calls @ .60
AAPL earnings
SPX
#RocketManHedge – Posting from seat 14F somewhere above and slightly west of @Iceman … 🙂
This sale insures a breakeven on my March hedge….still may eventually roll it around a little more to possibly make a buck or two…
Bought to Close SPX JAN 31 2018 2750.0 Put @ .30 (sold for 3.70)
Sold SPX MAR 16 2018 2725.0 Put @ 13.50
Expiration
#OptionsExpiration – Same as last week…LOL
Sizable position so letting it run the distance.
HIMX 10.5 calls (sold for .32)
ISRG
#ShortPuts – Just staying involved in this one…
Sold 1 ISRG MAR 16 2018 370.0 Put @ 2.60
WYNN
#ShortPuts #IRA – Sold WYNN JAN 18 2019 100.0 Put @ 2.45
WYNN
Uh oh…glad I got out. Could be a great opportunity though. Steve Wynn getting a little handsy.
AAOI
#ShortStrangles – Still chugging along in the repair trade. For the first time in months I’m actually having to roll up and out. Earnings not until Feb 21.
Rolled Jan 26 34.5 calls to Feb 9th 35.5 calls @ .37 credit
MU
#SyntheticStock – Joining in on this popular ticker. Thanks @mortlightman for the reminder this morning. Saw it on @smasty ‘s update last night too but forgot. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold MU JUL 20 2018 43.0 Puts @ 4.73
Bought MU JUL 20 2018 43.0 Calls @ 5.56
Bought MU JUL 20 2018 41.0 Puts @ 3.77
This gives a net debit of 4.60 for the Jul 2018 position. Add the 2 point max downside and get a max loss possibility of 6.60. Based on that, and the 25 weeks remaining in the trade I only need to average about 26 cents per week in sales to cover the absolute worst case scenario.
So:
Sold MU FEB 2 2018 44.5 Calls @ .60
MAT
#SyntheticStock – Earnings next week. If we get a little run up to a flat delta I’ll book it before. Keeping the sale tight and since it’s in an #IRA I have to close before I can re-sell.
Bought to Close MAT JAN 26 2018 17.5 Calls @ .05 (sold for .27)
Sold MAT FEB 2 2018 17.5 Calls @ .85
ISRG
WDC
#Earnings – Getting out while I’ve got a chance…
Bought to Close WDC JAN 26 2018 86.5/93.0 Strangles @ .45 (sold for 1.94)
LUV
#SyntheticStock – Don’t want all of my eggs in the AAL basket so taking a shot with LUV…
Synthetic Stock:
Sell to Open LUV JAN 18 2019 60.0 Puts @ 5.89
Bought to Open LUV JAN 18 2019 60.0 Calls @ 6.64
Disaster Puts:
Bought to Open LUV JAN 18 2019 57.5 Puts @ 4.75
This gives a net debit of 5.50 for the Jan 2019 position. Add the 2.50 point max downside and get a max loss possibility of 8.00. Based on that, and the 51 weeks remaining in the trade I only need to average about 16 cents per week in sales to cover the absolute worst case scenario.
Giving it a little breathing room in the beginning until I see how the recovery goes:
Sold LUV FEB 2 2018 61.5 Calls @ .41
WDC
#Earnings – Total crapshoot here. Playing it bullish but have no clue…only theory is short puts are easier to deal with on a big move than short calls. 🙂
Sold WDC JAN 26 2018 86.5/93.0 Strangles @ 1.94
ISRG
#Earnings – Playing it at the expected move to the downside and twice the expected move to the upside…
Sold ISRG JAN 26 2018 425.0/490.0 Strangle @ 4.75
REGN
#SyntheticStock – Rolling weeklies again into earnings week as high as I can for a credit…
Rolled Feb 2nd 390 calls to Feb 9th 400 calls @ .31 credit
Rolled Feb 2nd 395 call to Feb 9th 407.5 call @ .19 credit
VRX
#SyntheticStock – One of my last ones where the weekly was run over from almost the second I set the trade. Been running negative deltas for awhile. This pullback is giving me a chance to get out at even. Lousy fills out in 2020 or would’ve been a decent profit.
Sold Jan 2020 15/15/12 synthetic stock
Bought Apr 2018 16 calls
Made $36.50 after commissions! 🙂 🙂
UNG
#SyntheticShortStock – Still messing around in the tastyworks account. I think I could get used to it. After seeing the commissions and fees it’s looking like an average of about 56 cents per contract with each leg capped at 10 dollars.
Sold UNG Feb 16 2018 25.0 Puts @ .63
UNP
#ShortPuts – Throwing these in the divvy part of the #401k ….
Sold UNP May 18 2018 125.0 Put @ 3.70
Sold UNP May 18 2018 120.0 Put @ 2.45
REGN
#SyntheticStock – Clearing the 50 ma and looking like it’s finally getting some air under it. Rolling weekly out and up. All weeklies are now next week with earnings the following week. Lots of options going into that high IV.
Rolled REGN JAN 26 2018 380.0 Call to FEB 2 2018 390.0 Call @ 1.70 debit
FFIV LRCX Earnings
#Earnings – Worked great…I’m out and moving on down the road towards ISRG and WDC.
Bought to Close FFIV JAN 26 2018 130.0/155.0 Strangles @ .19 (sold for 1.33)
Bought to Close LRCX JAN 26 2018 200.0 Put @ .05 (sold for 1.80)
Bought to Close LRCX JAN 26 2018 202.5 Put @ .65 (sold for 2.70)
UNG
#SyntheticShortStock – Missed another one from earlier. Filled in tastyworks account. Is there a way to get text alerts on fills there?
Bought to Close UNG Jan 26 2018 24.0 Puts @ .01 (sold for .22)
TXN
#ShortPuts #IRA – Missed this one earlier…
Sold TXN APR 20 2018 105.0 Put @ 3.00
EXAS
#SyntheticStock – Delta was approaching zero so closing and hoping for a pullback to reset…or might reset anyway 🙂
Closed July 50/50/48 synthetic
Closed Jan 26th 51 calls
Net gain of 75 cents on a six day trade. Thanks guys (and gals)!
URI earnings (sort of)
GWW
Hey @Iceman ….how’s those GWW short puts looking? Completely missed this earnings trade yesterday.
🙂 🙂
NUGT
#SyntheticShortStock – Adding to the short at original strikes for simplicity. Just averaging down on the debit..
Added to Jan 2019 32/32/34 synthetic short @ 7.80 debit
VRX
#UOA – Alert saying bullish but I’m not sure why…LOL @smasty ? Any ideas?
ISRG
#CoveredCalls -This was a reverse roll of a strangle where the call side got blown out and then turned into covered stock. Finally back to a decent profit. Debating on holding it through earnings but finally decided to unload it and set up a new earnings play on the ticker tomorrow.
Sold to Close ISRG JAN 26 2018 420.0 Call Covered Stock @ 415.50 (bought for 410.45)
LRCX
#Earnings -Thanks @Jeff ….almost forgot about this one. Selling put side for now.
Sold LRCX JAN 26 2018 202.5 Put @ 2.70
Sold LRCX JAN 26 2018 200.0 Put @ 1.80
This is about one third size of what a #Fuzzy would be so if the stock implodes well below these I’ll set up a Fuzzy down there wherever it ends up…or possibly roll the puts if not too DITM.
SVXY
#ShortPuts – Sold SVXY MAR 2 2018 100.0 Put @ 2.55
NFLX
#Earnings – Trading between the inverted strikes for now. To make room for other earnings plays booking with a small profit.
Bought to Close NFLX JAN 26 2018 260.0/252.5 Inverted Strangles @ 10.65 (sold for 11.05)
TLT
#SyntheticShortStock – Uncovering the #FuzzyBear ….
Bought to Close TLT JAN 26 2018 122.5 Puts @ .44 (sold for .30)
GLD
#SyntheticStock – I should be really enjoying this gold run but not so much. Another weekly sale that’s absolutely gotten run over. Rolling the whole thing up to get back to long deltas but still leave a little cushion for a pullback. Disaster puts were only 2 points below so leaving them in place for now.
Rolled Jan 2020 122/122 synthetic up to 124 (leaving 120 puts in place)
Rolled Mar 2018 124 calls up to 126
All for .35 credit…
SVXY
#SyntheticStock – Weekly sales…
Bought to Close SVXY JAN 26 2018 139.0 Calls @ .10 (sold for 1.85)
Sold SVXY FEB 2 2018 136.0 Calls @ 1.40
NUGT
#SyntheticShortStock – Selling cautiously against the short. Getting close to adding to it…
Bought to Close NUGT FEB 2 2018 28.0 Puts @ .05 (sold for .55)
Sold NUGT FEB 9 2018 32.5 Puts @ .45
Airlines
#FallingKnife possibilities tonight. I think the UAL conference call mentioned a slight increase in capacity and everything sold off after hours…
AAL UAL LUV DAL all down…
FWIW
SAGE
Another big #Squeeze setting up. Kinda scary though with the move it’s already had but looks like it wants to go up…
MAT
@Iceman – Nice catch on this one!
AMZN
#SyntheticStock – This trade makes me a little queasy thinking about how much the weekly sale has cost me…LOL. The synthetic originally started at 1000 and has been blocked ever since after a few initial call sales. Rolling up again to keep some long deltas but leave a lot of downside room. Should make weeklies easier to roll up IF the stock ever quits going up.
Rolled Jun 2019 1150/1150 synthetic up to 1250/1250
Rolled Jun 2019 760 disaster put to 810
Rolled Feb 1110 short call to Feb 1210 short call
Whole package cost 1.63 debit but gets the position sitting a little better for rolling…
UNP
Bearish UOA alert…I see lots of calls being thrown around in March. Not sure what’s going on.
GS
#SyntheticStock – He’s got me convinced…LOL. Staying small so not a lot of risk.
Sold GS JAN 18 2019 260.0 Puts @ 22.50
Bought GS JAN 18 2019 260.0 Calls @ 25.35
Bought GS JAN 18 2019 250.0 Puts @ 18.08
This gives a net debit of 20.93 for the Jan 2019 position. Add the 10.00 point max downside and get a max loss possibility of 30.93. Based on that, and the 51 weeks remaining in the trade I only need to average about 61 cents per week in sales to cover the absolute worst case scenario.
Giving it a lot of breathing room in the beginning until I see how the squeeze plays out:
Sold GS FEB 16 2018 275.0 Calls @ .95
JPM GS
Whiz still big time bullish on banks and still telling people to get in JPM. GS in a pretty tight squeeze here. Maybe take a small shot? JPM just looks too extended…
SVXY
#SyntheticStock #IRA – Posted the details last week with all the nuts and bolts. Adding 1 for fun…
Bought Jan 2019 SVXY 135/135/132.5 Synthetic Stock / Disaster Put @ 38.35
About 80 cents a week to cover worse case scenario…
Sold SVXY FEB 2 2018 138.0 Call @ 1.80
UVXY
#BearCallSpreads #IRA – Closing some more that are using a lot of margin without much profit left to make.
Bought to Close UVXY JAN 18 2019 45.0/55.0 Bear Call Spreads @ .33 (sold for 1.32)
Bought to Close UVXY JAN 18 2019 60.0/75.0 Bear Call Spreads @ .32 (sold for 1.73)
REGN
#SyntheticStock -Got a little cash to put to work now and this one is finally starting to perk up. Not the strikes I would normally use but since it’s an add to an existing position I’ll use the same ones but getting in for about 3 dollars less.
Bought REGN Jan 2020 400/400/390 Synthetic Stock / Disaster Put @ 66.25
Sold REGN FEB 2 2018 395.0 Call @ 2.50
Posted all the details in the original trade but about 90 cents a week to cover worse case scenario.
WYNN so long old friend
#PerpetualRollingStrangles – Well…it’s with a heavy heart I bid farewell (for now) to an old friend. Been in the starting lineup for about 15 months. Just a little ‘ol 3 lot strangle that’s been rolled around and rolled around plugging away day after day. Reversed it into a bull put spread and now with the big run up I’m booking the whole thing.
Great trade on the reverse roll but not so hot on selling the calls above it yesterday. Still a nice winner…
Bought to Close WYNN FEB 16 2018 200.0/170.0 Bull Put Spreads @ 5.81 (sold for 16.70)
Bought to Close WYNN JAN 26 2018 195.0 Calls @ 5.75 (sold for 1.00)
Net gain of 6.14 on this 5 lot. The (very good) news is the total profit this ticker has generated since the beginning. Averaging a 3 lot the entire time premium received was just north of 40 points carrying about 5k margin during the run.
RIP WYNN (for now)
NFLX earnings
#Earnings – Going aggressive here. Premiums are nice in this thing so wouldn’t mind rolling it into synthetic stock if I have to. For now going inverted on the earnings strangles. Closing the original put sales also. Definitely early if the stock stays weak the next 3 days but plenty of premium to work with…as I’m typing it’s selling off so not a great adjustment yet. LOL
Bought to Close NFLX JAN 26 2018 200.0 Put @ .05 (sold for 1.68)
Bought to Close NFLX JAN 26 2018 202.5 Put @ .05 (sold for 2.13)
Bought to Close NFLX JAN 26 2018 205.0 Put @ .03 (sold for 2.69)
I’ll roll all those into the basis of the new strangles.
Sold NFLX JAN 26 2018 260.0 Puts @ 9.00
Now 260/252.5 inverted @ 11.05 breakeven 249 to 263.50
TLT
#PerpetualRollingStrangles – Using this pullback to get out of a few of my short calls that have been DITM for quite awhile. I’ve got my July #FuzzyBear to help protect to the downside now…
Bought to Close TLT FEB 16 2018 123.0 Calls @ 1.70 (sold for 2.45)
AGN
#SyntheticStock – Booking this one also. Caught it right at the squeeze and we’re in day 9 now so gotta be close to a rest (or maybe phase 2 ? ) Just crossed into negative deltas so outta here. I’ll get back in on a pullback or sell something for earnings.
Sold to Close Jan 2019 175/175/170 synthetic
Bought to Close Jan 26 2018 182.5 calls @ 5.30
Net credit including weekly sales (only one sale…LOL) of 20.25 with initial cost of 16.64 for a 3.61 winner.
NFLX
#Earnings #ShortStrangles – Up 44 percent of max already. Let it ride? 🙂
KR
#SyntheticStock – Just got a UOA bearish alert on KR. Was debating about booking it anyway after this nice run so went ahead and closed it. Of course it’ll now be free to run on to glory…LOL
Sold to Close July 28/28/26 synthetic
Bought to close Feb 9 30.5 calls
Net credit plus weekly premium received totals 2.47 with an entry of 1.87. 60 cents on a decent size position. Quick little trade and on down the road. 🙂 🙂
ADSK
#SyntheticStock – Had two of these going. One as a repair trade and one as a new trade.
Strikes were:
Jan 2019 105/105/100 and Mar 2 111 calls
Jan 2019 115/115/110 and Feb 2 116 calls
With the stock looking a little stronger I rolled all of the lower strike positions up to match the higher strikes in all positions. Did the whole bundle for a 2.85 credit. Much easier to track and trade now and brought in a little cash as well.
SPX
#RocketManHedge -My further out #FuzzyBear hedge at 2800 I can be more aggressive with now…
Rolled Wed 2785 put to Fri 2800 @ 4.25 credit (12.25 total received on it now)
TLT
#FuzzyBear – Covering my July FuzzyBear. I added this last week shorter term to protect my #PerpetualRollingStrangles that were getting too long. After the final numbers are in it looks like 20 cents a week through July to cover max loss. But…if TLT breaks long term support this could be a bigly winner.
Sold TLT JAN 26 2018 122.5 Puts @ .30
SPX
#RocketManHedge -Let this one spend the weekend unhedged but since the world doesn’t seem to be ending with the gubment shutdown I’m covering it now…
Sold SPX JAN 31 2018 2750.0 Put @ 3.70
WYNN
#BullPutSpreads – Got lucky last week and picked a good time to flip full blown bullish on WYNN. Was complaining about their last second earnings date announcement over the weekend but I take that back. I like this sale better against my Feb 170/200 Bull Put Spreads.
Sold WYNN JAN 26 2018 195.0 Calls @ 1.00
NEW 24/5 trading
Updating some watch lists and I noticed a new little symbol next to a few of them. A little “24” inside a circle. Apparently it means these are now available for 24/5 trading similar to futures. No idea when it starts or what the deal is…
The symbols I’m seeing so far:
EEM, FXI, GLD, IWM, QQQ, SPY, TLT, UNG
WYNN…grrr
#Earnings -They pull this crap every quarter. How can you wait until Friday after the close to announce earnings will be before the open on Monday. Wanted to sell calls against my bull put spreads for earnings.
Wynn Resorts Announces Fourth Quarter Earnings Release Date
LAS VEGAS–(BUSINESS WIRE)–Jan. 19, 2018– Wynn Resorts, Limited (NASDAQ: WYNN) announced today that it will release the Company’s financial results for the fourth quarter ended December 31, 2017 prior to the market open on Monday, January 22, 2018, followed by a conference call at 9:00 a.m. PT (12:00 p.m. ET).
There…I feel better after venting a little…
AGN
#SyntheticStock – Actually caught the breakout on this one. Looks due for a rest so keeping weekly sales close and will book the trade if overall delta approaches zero.
Rolled AGN JAN 19 2018 180.0 Calls to AGN JAN 26 2018 182.5 Calls @ .25 credit
MAT
#Fuzzy #SyntheticStock – I’ll take shot since @Iceman pointed this out. Big squeeze on the daily with 50ma turning up. Decent weekly premium as well. Earnings in two weeks…
July 16/16/14 synthetic long with disaster put @ 1.60 debit and 3.60 max loss
3.60 max loss with 26 weeks remaining need to sell 14 cents per week to cover worse case scenario
So:
Sold MAT Jan 26 2018 17.5 calls @ .27
Tastyworks
This is a cool feature. Sort your watchlist by earnings date and easily see if it’s before or after the bell. Very nice!
GWW
#IRA – Filled on another small one. Risk reduction…former #FallingKnife trade.
Bought to Close GWW APR 20 2018 160.0 Put @ .90 (sold for 3.80)
NFLX Earnings
#Earnings -Thanks @Jeff for the reminder. Taking a page out of my “Turbocharge Your Fuzzy” post from last week. Looking at NFLX…where would I be happy setting up a #Fuzzy or a #SyntheticStock position? I would say right where Jeff was selling at the 50ma looks pretty good. If it doesn’t get there then great premium. If it does get there I can live with the entry for a new long position.
Sold NFLX JAN 26 2018 205.0 Put @ 2.69
Sold NFLX JAN 26 2018 202.5 Put @ 2.13
Sold NFLX JAN 26 2018 200.0 Put @ 1.68
EDIT…strange numbers on the fills since I did it as a single entry for 6.50 total.
KR
#syntheticStock – Popping out of a tiny squeeze so giving it some room.
Rolled KR JAN 26 2018 29.5 Calls to KR FEB 9 2018 30.5 Calls @ .07 debit
TLT
#PerpetualRollingStrangles – I won’t go into the details but added some protection for the bond collapse everyone is talking about.
Rolled DITM puts out and down
Still sitting on short calls near ATM
Added a June #FuzzyBear for some protection since delta was getting too long
Leaving it unhedged for now. Still enough time to sell to cover max loss…
