#RiskReduction #ShortStrangles – It’s been a pretty good ticker this year so not gonna press my luck with the weakness today. Keeping my long term position in the #IRA but closing the nearer term strangles for small profit.
Bought to Close EWZ JUL 21 2017 31.0/37.0 Strangles @ .67 (sold for .82)
Nice #FallingKnife candidate today….I’m already in a position so not adding here.
#ShortPuts – Adding to the top of the ladder…margin free against short calls that start at 225.
Sold 1 SVXY JAN 19 2018 85.0 Put @ 4.60
#ShortCalls – June 30th 175s looking safe so going for the double dip…selling against 180/150 Bull put spreads.
Sold NVDA JUL 21 2017 180.0 Calls @ 1.25
#ShortPuts – Replacing this week’s expiration…
Sold WYNN JUN 23 2017 133.0 Puts @ 1.35
#CoveredCalls – Hanging on to the stock for a couple more weeks…picking up another 2.22 of potential upside while keeping plenty of downside protection.
Rolled SVXY JUN 16 2017 137.0 Call to JUN 30 2017 138.0 Call @ 1.22 credit
#ShortCalls – Sold 1 DRIP DEC 15 2017 35.0 Call @ 4.00
#TakeOneForTheTeam – Punching out of this one for a small profit…
Bought to Close SVXY JUN 16 2017 160.0/155.0 BuPS @ 2.28 (sold for 2.76)
I’ll wait until Friday for a decision on my last few shares of SVXY…(covered by 137 calls)
#Futures – Love having some protection up here while gradually raising the basis.
I’ll take assignment Friday of a short /ES position @ 2396 basis. Sold a Jul 2400 put against it @ 27.00. That’s nicely profitable now so setting a stop on it at breakeven. Since it’s basically safe I’m adding an Aug put also.
SOLD /ES AUG 17 (Wk3) 2350 PUT @ 16.50
If we tank from here I’ll get stopped out at even on the Jul put and can then ride the short /ES down to 2350 and then decide where to roll the Aug put. Still decent downside protection but also the ability to raise the short basis all the way to 2440 if we don’t implode.
EDIT…actually it looks like Jun contracts expire Friday. I’ll need to roll that call out a week and then take assignment of the Sep contract.
#PerpetualRollingStrangles – Order in to close this week’s 52 puts which are almost worthless so getting a jump on July…
Rolled EWW JUN 16 2017 50.0 Calls to JUL 21 2017 50.0 Calls @ .07 credit
And:
Sold EWW JUL 14 2017 52.5 Puts @ .76
#ShortCalls – Another little scalp this morning…
Sold NVDA JUN 30 2017 175.0 Calls @ 1.10
#ShortPuts #IRA – Out all day yesterday but had a couple fills…
Sold NVDA Jan 19 2018 100.0 Put @ 3.50
Sold NVDA Jan 19 2018 110.0 Put @ 5.50
#CoveredCalls #IRA – Sold UAA Jan 19 2018 30 Calls @ .42
#IRA #ShortPuts – Sold SVXY AUG 18 2017 90.0 Put @ 2.30
Actually needed a pullback in these things. Short calls in the #LongCallDiagonals trades were super DITM. Another 50 bucks would help even more…
#ShortStrangles – Finally getting a little weakness in this thing.
Rolled this week’s 930 put to next week’s 925 @ .10 credit.
Sold against Jul 14th 885 call…
#ShortCalls – Taking a little scalp…
Bought to Close NVDA JUL 7 2017 200.0 Calls @ .30 (sold for 1.20 this morning)
#ShortStrangles – Thanks to @hcgdavis for reminding me of this one. More premium and lower margin than my IBB strangles…
Sold 5 XBI JUL 21 2017 68.0/78.0 Strangles @ 1.20
For comparison selling the same deltas in IBB in July would be:
IBB 285/315 @ 3.65
One IBB strangle vs five in XBI is same margin (2800) with XBI bringing in nearly 70 percent more premium…
#ShortStrangles – Finally out of this after quite a bit of rolling (for credit). Moving this margin allotment over to XBI. Think it’s a little more bang for the buck.
Bought to Close IBB JUN 16 2017 295.0/305.0 Strangle @ 2.23 ( sold for 10.56)
#BullPutSpreads #ShortStrangles – Skimming through my positions…way too much going on in EWZ. Played the bounce so thinning things out.
Bought to Close EWZ JUN 30 2017 32.0/38.0 Strangles @ .46 (sold for 1.12)
Bought to Close EWZ JUL 21 2017 35.0/30.0 Bull put spreads @ 1.51 (sold for 2.40)
#ShortCalls – Bought to Close EWZ JUN 16 2017 37.0 Calls @ .03 (sold for .65)
These were sold against July Bull Put Spreads. I’ll be looking to sell ’em again somewhere…
#ShortStrangles #ReverseRolling – Current position was 170/150 inverted @ 25.24
Bought to Close NVDA JUN 16 2017 150.0 Calls @ 15.00
Sold NVDA JUL 21 2017 180.0/150.0 Bull Put Spreads @ 15.16
That keeps the new position in expirations prior to earnings. If we don’t get an earnings run I should be able to make a nice roll into the high IV of earnings. You know IV will be through the roof this time!
Not getting greedy so don’t want a double size bullish position so:
Bought to Close NVDA JUN 16 2017 170.0 Puts @ 7.70
That’s considerably less than I received for multiple roll ups this week…still preserving 17.70 premium and now completely out of the PITA call side and reducing margin required by about two thirds. Downside is I’m highly directional now…gulp!
Last night’s free video…
http://stockmarketmentor.com/2017/06/nvidia-nvda-got-an-upgrade-today-and-the-price-got-marked-up-big-league-i-think-theres-still-a-lot-more-to-go-before-this-stock-peaks-june-08-2017/
Lots of crazy numbers being thrown around. Dan sure got this one right a few weeks ago when he said it would take out 150 pretty quickly. I think my new plan for my 170/150 inverted strangles will be to reverse roll the ITM calls out to a put position while they’re still reasonably rollable. A couple possibilities are:
Jan 2018 140 puts @ even
or
Jan 2018 150/110 Bull put spreads @ 1.50 credit
This will allow me some management room for the nearer term puts. Hopefully could close those soon and then let the 2018’s decay stress free while keeping a big bulk of the nice premium received so far.
Just saw this…interesting video on defending against an outlier move in something like NVDA.
https://www.tastytrade.com/tt/shows/bat-vs-bat/episodes/staying-mechanical-defending-nvda-06-08-2017
#ShortStrangles Sometimes to stop the insanity you have to do something insane. Time will tell if this was it…LOL
Rolled Jun monthly 160 puts up to 170 @ 7.50 credit.
Current position now 170/150 inverted @ 25.24
That’s still over a 5 dollar winner if NVDA finishes in between the strikes next week. Even if it does I may do some rolling to try and keep more of the premium. Can we classify this in the #TakeOneForTheTeam category?
#LongCallDiagonals – Bunch of calls sold in various positions…closing one batch and re-selling.
Bought to Close EWZ JUN 16 2017 37.5 Calls @ .03 (sold for .56)
Sold EWZ JUL 21 2017 36.5 Calls @ .56
#ShortStrangles – Still looks to be headed to 155 or higher so still rolling puts up. Overall position nicely profitable so waiting for a little more theta to get out. Don’t want the short calls to get away so staying aggressive into next week. Keeping long deltas until the stock tells me otherwise.
Rolled Jun monthly 155 puts up to 160 @ 3.62 credit.
Current position now 160/150 inverted @ 17.74
#IRA #FallingKnife #ShortPuts – Starter position. Will look to add lower…
Sold XLE JAN 19 2018 60.0 Puts @ 2.22
#ShortCalls – Bought to Close DUST JUL 21 2017 50.0 Call @ .15 (sold for 2.20)
#TakeOneForTheTeam – Stock getting called away next week at 137 (maybe)…haven’t decided yet. I’ll try for a little more just in case.
Sold SVXY JUN 16 2017 160.0/155.0 Bull Put Spread @ 2.76
#IRA – Playing this the same way I play UVXY a lot of the time. Selling spreads a little closer to the money with position size and strike width small enough to add or widen if they need rolled.
Sold NUGT DEC 15 2017 40.0/45.0 Bear Call Spreads @ 1.38
#ShortStrangles – Still looks to be headed to 150 or higher so still rolling puts up. Overall position nicely profitable so waiting for a little more theta to get out. Don’t want the short calls to get away so staying aggressive into next week.
Rolled Jun monthly 150 puts up to 155 @ 3.29 credit.
Current position now 155/150 inverted @ 14.12
#ShortStrangles – Short a Jan 2018 175/500 strangle. Making a delta adjustment rolling the put up to the 200ma. See if we can get this thing back to reality…
Rolled TSLA JAN 19 2018 175.0 Put up to JAN 19 2018 250.0 Put @ 7.40 credit
#PerpetualRollingStrangles – After a bunch of rolls with a decent size position finally getting out…(for a few minutes)…LOL
Bought to Close GLD JUN 16 2017 120.0 Puts @ .18 (sold for 4.50 accumulated premium)
Sold GLD JUN 30 2017 121.0 Puts @ .70
And:
Rolled Jun 113 calls to Jul 113 @ .18 credit
#ShortPuts #IRA – Trying to bounce here at the 200 but I’d buy it lower if that doesn’t hold…
Sold URI JAN 19 2018 85.0 Put @ 4.20
Sold URI JAN 19 2018 80.0 Put @ 3.10
Sold URI JAN 19 2018 75.0 Put @ 2.30
#ShortStrangles – Still looks to be headed to 150 so still rolling puts up. Overall position nicely profitable so waiting for a little more theta to get out.
Rolled Jun monthly 147 puts up to 150 @ 1.70 credit.
Current position now 150 straddles @ 10.83
#PerpetualRollingStrangles – Decent size position here so booking and then splitting up into different expirations…
Bought to Close TLT JUN 9 2017 123.0 Puts @ .09 (sold for 1.15)
Sold TLT JUN 16 2017 125.0 Puts @ .82
Sold TLT JUN 23 2017 124.5 Puts @ .80
#ShortStrangles – Same as ISRG. This one’s up over 30 percent in five weeks.
Bought to Close REGN JUN 2 2017 462.5 Puts @ .25 (sold for 15.85) Now collected over 32 points in premium on the way up. Will start using some of that to roll up the Sep 425 call I’ve been selling against.
Rolled Sep 425 Calls up to Sep 430 @ 3.75 debit
And:
Sold REGN JUN 9 2017 475.0 Puts @ 8.80
#ShortStrangles – Still working it…almost a 25 percent move since earnings six weeks ago. Rolling the un-threatened side and position size (1) has saved this trade. Nothing goes up forever but starting to wonder. LOL
Bought to Close ISRG JUN 2 2017 910.0 Put @ .16 (sold for 7.00)
Used some of that premium:
Rolled Jun 30th 870 Call to Jul 14th 880 call @ 5.74 debit…that gets the call up a little and into the week before earnings. I’ll leave it there and possibly keep rolling up while still pocketing some weekly premium.
Then:
Sold ISRG JUN 9 2017 925.0 Put @ 9.20
#Earnings – Yuuuge gap up. 113/118/123 iron fly sitting at max loss of .70
Sold PANW JUN 2 2017 135.0 Put @ .90
If the gap up holds I’ll escape with a tiny profit…
#Earnings – Taking a seat at the blackjack table. Strictly gambling here…
113/118/123 iron fly @ 4.30. Only risking 70 but needing about half of expected move. Low probability but low risk.
#ShortPuts #IRA – Sold SVXY SEP 15 2017 85.0 Put @ 2.30
LongCallDiagonals – Cleaning up the bull put spreads from a bigger position closed long ago. Can now officially put the 40 points in the win column. If she sells off back to the 180ish area I’ll look to get in again.
Bought to Close GS JAN 19 2018 130.0/100.0 Bull put spreads @ .50
#LongCallDiagonals – Killing time lowering basis. Getting more aggressive with front month after breaking support…
Bought to Close JPM JUN 2 2017 86.0 Calls @ .01 (sold for .60)
Sold JPM JUN 16 2017 83.5 Calls @ .75
#Futures #ShortStrangles – Following hcgdavis into the oil fields…
SOLD /CL AUG 17 45/55 STRANGLE @ .83
When it’s a long weekend with nothing else to trade…LOL
#Cryptocurrency – BitCoin is getting a little pricey so taking the next best thing…starter position:
Bought 1 ETH (Ethereum coin) @ 160.0
Just something fun to watch. This could be at 5000 or 5 in a day…currently trading for 195. Rumor is AMZN may start accepting these and it appears MSFT JPM INTC and some others are on board.
🙂 🙂
#ShortStrangles -This one should finally expire today after multiple roll-ups since earnings…
ISRG MAY 26 2017 905.0 Put (sold for 34.20)
Replacing with this:
Sold ISRG JUN 2 2017 910.0 Put @ 7.00
#ShortStrangles – Sold against a June monthly 305 call…
Rolled IBB MAY 26 2017 295.0 Put to JUN 16 2017 295.0 Put @ 2.01 credit
#CoveredCalls – Gonna hang onto the stock a little longer. Keeping the covered call DITM for max downside protection…
Rolled SVXY MAY 26 2017 137.0 Call to JUN 16 2017 137.0 Call @ 2.55 credit
#ShortStrangles – Still selling weeklies collecting premium against longer term ITM calls…
Rolled REGN MAY 26 2017 465.0 Puts to JUN 2 2017 462.5 Puts @ 3.00 credit
#LongCallDiagonals – Replacing the ones closed earlier this week…
Sold EWZ JUN 16 2017 37.5 Calls @ .56
#PairsTrade #ShortCalls – The July meal is starting to digest so back to the buffet for December…they both can’t lose!
Selling the highest available strikes:
Sold DUST DEC 15 2017 50.0 Call @ 3.90
Sold NUGT DEC 15 2017 58.0 Call @ 4.30
#LongCallDiagonals – Really trying to keep the front month calls out of the way on this thing. It’s at resistance so may pull back but playing it safe. I’ll look for something higher to sell.
Bought to Close EWZ MAY 26 2017 35.5 Calls @ .37 (sold for .61)
#PerpetualRollingStrangles – I’ve got a couple of directional positions on already. This one is a little more neutral. Low margin and nice return. One of the highest IV rank stocks on the Tastyworks list.
Sold EWZ JUN 30 2017 32.0/38.0 Strangles @ 1.12
#PerpetualRollingStrangles – Slow and steady…
Bought to Close EWW MAY 26 2017 51.5 Puts @ .04 (sold for .75)
Sold EWW JUN 16 2017 52.0 Puts @ .74
These types of positions are working so well in GLD and TLT I’ll probably be adding EWZ and XLE at some point…
#ShortStrangles – Nearly a 20 percent move in a month. Pretty impressive. Making a small adjustment…
Rolled this week’s 865 put up to 880 @ 4.00 credit
Rolled Jun 30th 862.5 call up to 867.5 @ 3.70 debit
Preserves my original premium in this week’s put sale while easing the ITM call up a little…
#LongCallDiagonals – Adjusting front month sales…
Bought to Close JPM MAY 26 2017 88.5 Calls @ .03 (sold for .45)
Sold JPM JUN 2 2017 86.0 Calls @ .50
#LongCallDiagonals #IRA – Adding one of his with modified strike prices…he uses long delta 80 Leaps and just buys protective puts 20 percent below the current price. I generally buy about delta 70 Leaps and sell bull put spreads to reduce the entry fee. Either way though, sell front month to reduce basis.
Bought Jan 2019 30 calls and sold Jan 2019 25/20 Bull put spreads (and sold May 26 35.5 calls against these). Net debit of 6.35.
With 87 weeks to go front month calls don’t need to bring in much at all for this to be a zero cost trade…
#HolyCrap – Can’t believe it…a stock trade at “The Bistro” !!
#IRA – Just for fun was scaling into some XIV this week at 77.85, 75.70, 73.35, and the biggest chunk at 68.02. Average share price of 72.59. Wasn’t looking too good initially so with this move today I feel like “ya gotta book it”. Could see another 9 handle in the VIX but no greed here.
Sold XIV stock @ 74.60 (bought for 72.59)
#ShortStrangles – Spending a little of the weekly premium accumulated to make a small roll up. Trying to keep all of these in the expirations prior to the next earnings announcement. Then, if I still have the position, it can be rolled up or down quite a bit for a credit rolling it into the high IV of an earnings week.
Rolled ISRG JUN 16 2017 855.0 Call to JUN 30 2017 862.5 Call @ 1.16 debit
Sold against next week’s 865.0 put…total premium for the entire position is now down to 27.20. Would still love to be out by earnings. Amazing move on this thing…120 points from the low the day before earnings. 16 percent in 3 weeks. Are stocks like this actually worth that much?
#Futures – After a couple rolls down earlier this week I managed a small profit so re-setting for June.
BOUGHT /ES MAY 17 (Wk3) 2350 CALL @ 19.75 (sold for 28.50)
SOLD /ES JUN 17 2370 CALL @ 26.00
#TakeOneForTheTeam – Was short a 160/155 put spread from a couple weeks ago. Of course was exercised early on the short 160 today. Immediately closed the 155 long put for 17.25. Originally received 2.80 for the spread so a grand total of 20.05 in premium to offset the 160 purchase price.
Stock basis of 139.95 is where she settled out…
I don’t feel like I really need this protection for the Jan 2018 short calls anymore so will aggressively try to unload this by selling a covered call slightly in the money.
Sold SVXY MAY 26 2017 137.0 Call @ 4.85
Still make a couple bucks with breakeven of 135.10
#PerpetualRollingStrangles – Darn it…thought she might take out the puts this week but didn’t quite have the oomph. Rolling a month and tightening the inversion by a half point while still bringing in nice credit.
Rolled GLD MAY 19 2017 120.5/113.0 inverted strangles to JUN 16 2017 120.0/113.0 @ .80 credit
#ShortStrangles – Got a little too aggressive rolling the put up. Trying to bring it back down a little. Premium on this contract is up to 17.10. May have to use some of that to roll the June 450 call it’s sold against.
Rolled CMG MAY 19 2017 500.0 Put to JUN 2 2017 497.5 Put @ 1.00 credit
#ShortStrangles – Rolling out a week for nice credit. Premium now up to 17.65 on this contract. Sold against a Jun monthly 855 call…
Rolled ISRG MAY 19 2017 865.0 Put to MAY 26 2017 865.0 Put @ 3.00 credit
#ShortStrangles – Still selling the crap out of weeklies against longer term 420 calls. Accumulating plenty of premium for a roll if needed.
Bought to Close REGN MAY 19 2017 445.0 Puts @ .68 (sold for 10.00)
And:
Sold REGN MAY 26 2017 455.0 Put @ 8.55
Sold REGN MAY 26 2017 457.5 Put @ 9.65
#ShortStrangles – Waiting a little before making a decision on this week’s 295 put. Selling a June call against it slightly above recent highs.
Sold IBB JUN 16 2017 305.0 Call @ 1.41
#VXXGame – Adding one…
Sold UVXY JAN 18 2019 60.0 Call @ 3.75
#FallingKnife – Taking a slight directional play but could get the stock at a decent basis no matter how far it falls…
Sold EWZ JUL 21 2017 35.0/30.0 Bull Put Spreads @ 2.35
I’m no political science guy but I think when the Vice-President becomes president he nominates a new VP and then Congress approves.
Who and what are the odds…feel free to add!
🙂 🙂
Marco Rubio: even money
Jeb Bush 500:1
#ShortStrangles – Taking my medicine for actually taking a directional play on something…the only one in my main portfolio…LOL
Rolled NVDA JUN 16 2017 140.0 Puts to DEC 15 2017 125.0 Puts @ .22 credit.
There’s over 8 dollars of premium in these puts already. I’ll continue selling a few conservative weekly calls against them between now and then.
#ShortStrangles – Just to make sure there’s no monkey business with early assignment…
Rolled WYNN MAY 19 2017 130.0/110.0 inverted to JUN 2 2017 130.0/110.0 @ .90 credit
#ShortPuts #VXXGame – After selling those additional puts earlier this week I promised myself I’d thin the herd if things got dicey. Since I’m probably going to be long 100 shares this week from my 160/155 BuPS I’m playing it really safe. Still nice winners and reduces a lot of risk…and I absolutely hate seeing winners turn into losers.
Bought to Close SVXY JAN 19 2018 55.0 Puts @ 1.75 (sold for 2.85)
Bought to Close SVXY JAN 19 2018 60.0 Puts @ 2.35 (sold for 4.55)
#PerpetualRollingStrangles – Been rolling 120.5/113 inverted forever waiting for one side to expire. Got a chance on the put side this week. Go baby go! Then roll the calls out to a new strangle. Probably still inverted but finally get to book premium on the 120.5’s….maybe. Big move in gold back above the 200ma for now.
Options Bistro 