#SyntheticStock – This one is working nicely. No crazy moves (yet). Earnings on the horizon (Feb 8 est) so still selling prior to that.
Bought to Close REGN JAN 19 2018 380.0 Call @ .20 (sold for 1.80)
Bought to Close REGN JAN 19 2018 380.0 Call @ .25 (sold for 1.80)
Sold REGN JAN 26 2018 380.0 Call @ 3.00
Sold REGN JAN 26 2018 380.0 Call @ 3.10
Strange fills. One for 2.80 credit and one for 2.85…
#CoveredCalls – Earnings next week so rolling out but not up. I’d rather have the downside cushion. Love the premium in an earnings week. Wish they were all like this…
Rolled ISRG JAN 19 2018 420.0 Call to ISRG JAN 26 2018 420.0 Call @ 5.85 credit
#SyntheticStock -weekly getting run over again and I was very careful selling them… 🙂 Hard to predict that move (again). Trade is out to 2020 so plenty of time. Debit roll picking up 1.07 of upside.
Rolled GLD FEB 2 2018 122.0 Calls to GLD MAR 16 2018 124.0 Calls @ .93 debit (that erases all the weekly sales so far)
#SyntheticStock – I’ve got 2 of these going…
ADSK #1:
Rolled ADSK FEB 9 2018 108.0 Calls to ADSK MAR 2 2018 111.0 Calls @ .69 debit (picking up 2.31 of upside)
ADSK #2:
Bought to Close ADSK JAN 19 2018 115.0 Calls @ .05 (sold for .47)
Sold ADSK FEB 2 2018 116.0 Calls @ .95
#SyntheticShortStock – Just for fun I funded an account over at tastyworks. Taking a short position in UNG with spring right around the corner. Also, it’s a slow mover with a slight bit of contango in it and just reversed split recently. Low maintenance to get accustomed to the platform over there. So far I like it.
Haven’t found a place to copy and paste my trades to here so I’ll go the brief route:
Jan 2018 25/25/27 synthetic short with disaster call @ 2.23 debit and 4.23 max loss
4.23 max loss with 52 weeks remaining need to sell 8 cents per week to cover worse case scenario
So:
Sold UNG Jan 26 2018 puts @ .22
Taking a free 10 day trial here. Been following him awhile on Twitter and seems to do pretty good. Specializes in buying pre-earnings straddles. Maybe I can stumble on to something here that we can use…similar to some Whiz trades that eventually became the #SyntheticStock and #Fuzzy trades here.
Would be fun to have pre, current, and post earnings trades going!
I’ll keep you posted. 10 day trial and then I’ll probably stick around another month with earnings really cranking up….
https://steadyoptions.com/
#RocketManHedge -Last put sale was aggressive and open to a lot of whipsaw risk so closing it until after the shutdown gets resolved. Plenty of time to re-sell next week and still get out of the overall hedge in the green.
Bought to Close SPX JAN 19 2018 2790.0 Put @ 4.10 (sold for 9.70)
#ShortStrangles – Still slogging away on this. Considering tripling the size and rolling it into #SyntheticStock . Might get me out of it sooner..
Bought to Close AAOI JAN 19 2018 37.5 Calls @ .05 (sold for .90)
Sold AAOI JAN 26 2018 34.5 Calls @ .70
Why are there 2 different options showing tomorrow’s date? Is there a PM settled on the monthly expiration now along with the usual one that settles at the Friday open on monthly expirations?
#SyntheticStock #Fuzzy – I’ve been watching everyone trade this recently so thanks for getting it on my radar. Weeklies with decent premium and a little pullback. Exactly what I look for to get in these types of trades. I’m going hybrid again…in between a 90 day Fuzzy and a full blown LEAP. Taking it out to July to give it some time.
Sold EXAS JUL 20 2018 50.0 Puts @ 7.55
Bought EXAS JUL 20 2018 50.0 Calls @ 7.37
Bought EXAS JUL 20 2018 48.0 Puts @ 6.50
This gives a net debit of 6.32 for the Jul 2018 position. Add the 2.00 point max downside and get a max loss possibility of 8.32. Based on that, and the 26 weeks remaining in the trade I only need to average about 32 cents per week in sales to cover the absolute worst case scenario.
So:
Sold EXAS JAN 26 2018 51.0 Calls @ 1.15
#UOA over there today?
EDIT…it’s now a hashtag 🙂
Wow…what an exchange between Rich Ross and Dan Nathan. It’ll be on YouTube for sure. Thought there was going to be punches thrown. Crazy!
#CoveredCalls – Sold covered stock at 14.97. DITM 15 strike calls not really rollable so closing it and saving exercise fees. Small loss….stock basis of 15.08 on a few shares…
Somebody dumping some gold all of a sudden…
#ReverseRolling – I’ve been in this thing for a year just selling and rolling. It’s been a sweet ticker with great premium but really running now. Closing the last of my short puts and reverse rolling the DITM short calls to very bullish bull put spreads.
Bought to Close 3 WYNN JAN 19 2018 170.0 Puts @ .25 (sold for 9.00 accumulated after a couple rolls)
Reverse Rolled the calls for $270 total credit (.54 per new spread avg) but had to increase size from 3 closed to 5 open to get the credit.
Bought to Close 3 WYNN JAN 19 2018 140.0 Calls
Sold 5 WYNN FEB 16 2018 200.0/170.0 Bull Put Spreads
Now the big picture:
Aggressive put selling for last few months has now brought in $8343 in premium. That was for 3 contracts but now has to be spread over 5 contracts giving me a basis in the new position of:
200/170 BuPS @ 16.68
If WYNN rallies then it’s all good. If WYNN tanks I’ll roll all of this into #Fuzzy positions wherever the stock finally ends up. Breakeven on the spread of 183.32. Anything around that and I’ll have to decide whether to roll or go #Fuzzy
Whew!
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.
#SyntheticShort out through April expiration…
Synthetic short stock with a protective call. 49.00 debit with max loss of 59.00:
Sold SPX APR 20 2018 2800.0 Call @ 57.55
Bought SPX APR 20 2018 2800.0 Put @ 54.90
Bought SPX APR 20 2018 2810.0 Call @ 51.65
With 13 weeks for the trade to run need to collect 4.55 per week to cover the max loss so:
Sold SPX JAN 24 2018 2785.0 Put @ 8.00
#SyntheticStock – Using this little dip to get my core up to the 50ma. Eventually the weekly will become rollable again. Goal is to get it expired or closed for minimal debit at some point.
Rolled June 2019 1100 synthetic up to 1150
Rolled June 2019 700 disaster put up to 760
Rolled Feb 2018 1060 call up to 1110
Did it all for a 2.84 debit. I’ll take that out of the 40 points of weeklies sold earlier…
#ShortPuts #IRA – Cleaning up some of the most profitable positions that I feel aren’t worth holding for months to get the last few dollars. Lots of dry powder now…
Bought to Close DGX MAY 18 2018 85.0 PUT @ .85 (sold for 3.20)
Bought to Close IBM APR 20 2018 140.0 PUT @ 1.04 (sold for 4.30)
Bought to Close NVDA JUN 15 2018 140.0 Put @ 1.27 (sold for 4.00)
Bought to Close T APR 20 18 35.0 PUTS @ .85 (sold for 1.47)
Bought to Close TAP APR 20 2018 70.0 PUT @ .32 (sold for 1.53)
Bought to Close TAP APR 20 2018 75.0 PUT @ .80 (sold for 2.64)
#ShortPuts #IRA – Adding one more…
Sold SVXY MAR 16 2018 90.0 Put @ 3.50
#SyntheticStock -Taking a small shot for fun. Pretty low risk and leaving room to add…
Sold SVXY JAN 18 2019 135.0 Puts @ 40.74
Bought SVXY JAN 18 2019 135.0 Calls @ 39.52
Bought SVXY JAN 18 2019 132.5 Puts @ 39.18
This gives a net debit of 37.96 for the Jan 2019 position. Add the 2.50 point max downside and get a max loss possibility of 40.46. Based on that, and the 52 weeks remaining in the trade I only need to average about 78 cents per week in sales to cover the absolute worst case scenario.
So:
Sold SVXY JAN 26 2018 139.0 Calls @ 1.85
#ShortPuts #IRA – Adding one more…
Sold SVXY FEB 23 2018 105.0 Put @ 3.09
#IRA – Sold SVXY FEB 16 2018 110.0 Put @ 3.00
#SyntheticStock #IRA – Nicely profitable and overall delta almost to zero so time to bail out. I’d maybe hang around a little longer but the size was a little bigger than I’m used to so walking away.
Closed synthetic stock and weekly calls @ 1.62 net credit.
Weekly premium sold added up to 1.60
Total credit of 3.22 with trade entry of 1.42 so net gain of 1.80
#SyntheticStock #IRA – Up near resistance now so instead of rolling I’m booking the winner and waiting for a better entry…
Sold Jan 2019 40/40/35 Synthetic Stock @ 5.69
Bought to Close EWZ JAN 19 2018 40.0 Calls @ 3.25
Weekly premium sold of 1.85 plus closing credit of 2.44 for a total credit of 4.29. Trade entry of 3.00 so nice net gain of 1.29 in spite of my weekly sale getting blown through…
#RocketManHedge – Been selling aggressively against this one so almost back to even with 2 more months to run. Rolling aggressively here to see if 2800 is new support.
Rolled SPX JAN 19 2018 2750.0 Put to SPX JAN 19 2018 2790.0 Put @ 4.00 credit.
Position is now 38.00 premium received against a 54 max loss position. Only need about 2.00 per week going forward to break even on what turned out to be a useless hedge…
#Fuzzy #SyntheticStock – No that’s not another California wildfire you smell…it’s me thinking! I’ve got a small list of tickers that I would be very interested in adding a Fuzzy or synthetic position to. With earnings coming up on all of these I was considering selling some aggressive puts down in areas I would like to add the Fuzzy anyway. Kinda like selling puts to acquire stock and then writing covered calls.
Since I tend to have bigger synthetic positions than I would with real stock, these put sales look like they could be quite profitable if the stock doesn’t happen to pull back enough. Another option would be to sell spreads too…then if the stock implodes the Fuzzy wouldn’t be down hardly any at all when it gets set. Or…sell naked puts at half size and then if the stock implodes add the other half down at that level. Either way…just roll the loss into the basis of the Fuzzy if the stock really drops…otherwise enjoy the huge gains from the put sales.
For example, one of my all time favorites is NVDA. Great premium and easy to roll. I would really be interested in going long starting down at the 200 level and adding below that. Let’s also assume that a 6 lot would be my max synthetic size.
I could sell a put ladder starting at 215 (or anywhere depending on appetite for risk) and then every 5 points below that down to 190. Premium would be about 19 dollars. Great trade if the stock rallies. If the stock tanks then put the synthetic on there while rolling the put sales into the basis. Obviously the trade would start out underwater similar to covered stock…which is ok. Plenty of time to sell weeklies to eventually profit.
I guess the point of this whole thing is that there may be some tickers you like that won’t come back enough to get an entry point. Selling the puts while waiting could pay off quite nicely too.
Sizable position so letting it run the distance.
HIMX 11.5 calls (sold for .27)
This was a busted #ShortStrangles that I turned into a #CoveredCalls position. After selling for quite a few weeks I’m using this bounce to book it for a .10 loss. Happy to be out and freeing up some room for earnings season.
Sold to Close SWKS Covered Stock @ 99.23 (bought for 99.33)
#ShortPuts – In my “SVXY only” account that has done absolutely nothing this year…I’ll follow @hcgdavis ‘s lead and try to shake things up a little. Sort of a #TakeOneForTheTeam trade…
Sold SVXY FEB 2 2018 120.0 Put @ 2.31
Sold SVXY FEB 9 2018 120.0 Put @ 3.20
#ShortStrangles #CoveredCalls – There was a method to my madness…LOL Turning inverted strangle into a covered stock position.
Current position is 435/415 Inverted Strangle @ 19.35 credit.
Rolling the 415 call out a week to 420 for a small .35 debit and taking the stock at a 416 basis. Should work nicely with earnings the following week and bigly premium available.
#SyntheticShortStock – Next split has to be soon so I’m now fully loaded after closing the short VXX the other day. I’ve rolled my short puts out to 5 strike 2020’s. I’ll probably ride those into the ground unless we get a huge spike but should easily be offset by this position and should be able to ride 2019’s down again and 2020’s at least twice. I’ll roll them another year if I can but not sure if we can roll when they become “post split” options.
Sold to Close UVXY 30/30/55 Synthetic Short Stock @ 23.47 (bought for 14.91)
This was all just a big experiment when I first suggested it back at the last split. I’d have to say a stress free huge success along with the VXX short!
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.
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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)
