#ShortPuts #ShortStrangles – Looks like the selling is done for now. Getting what I can out of the long put side of some put spreads. Selling calls against the remaining short puts as well.
Sold to Close NVDA JUL 21 2017 150.0 Put @ 4.55
Sold to Close NVDA JUL 21 2017 150.0 Put @ 4.75
Sold to Close NVDA JUL 21 2017 150.0 Put @ 5.00
#PerpetualRollingStrangles – Increasing size just a little…
Sold TLT OCT 20 2017 115.0/130.0 Strangles @ 1.17
#ShortStrangles – Taking care of this early to get the theta back up to a decent level…
Rolled EWW JUL 21 2017 50.0 Calls to AUG 18 2017 50.0 Calls @ .27 credit
Sold EWW AUG 18 2017 53.0 Puts @ .91
Will continue watching next week’s 52.5 puts to squeeze a few more pennies out of them…
#TakeOneForTheTeam from a couple weeks ago…
Originally sold the slightly ITM 166/161 BuPS @ 3.25
Then:
Sold to Close SVXY JUL 7 2017 161.0 Put @ 5.40
This will give me the stock at a basis of 157.35. Going out two weeks to cover it using slightly ITM for some downside protection…still a possible profit of almost 5 points (4.65) while reducing basis to close to 150 (150.35)
Sold SVXY JUL 21 2017 155.0 Call @ 7.00
#ShortStrangles – Sold against some further out ITM calls. Would like to be out of these by earnings to really take advantage of the high IV that week.
Rolled WYNN JUL 7 2017 135.0 Puts to JUL 14 2017 134.0 Puts @ .30 credit
#ShortStrangles – Sold SVXY AUG 18 2017 80.0/180.0 Strangle @ 3.55
#PerpetualRollingStrangles – Using this pullback to book some gains and possibly get less inverted or maybe even to a straddle. These were sold against 121 strike puts…
Bought to Close GLD JUL 21 2017 113.0 Calls @ 3.65 (sold for 4.40)
#ShortCalls – Don’t trust this thing….booking it.
Bought to Close CMG JUL 7 2017 430.0 Call @ .20 (sold for 6.20)
#ShortCalls – Taking some risk off. I’ll look to re-load after the split on a spike.
Bought to Close UVXY JAN 18 2019 60.0 Calls @ 1.79 (sold for 3.50 average)
#ShortCalls – I’ve been over writing these at about a 2 for 1 rate so taking some risk off since she’s bouncing…
Bought to Close NVDA JUL 28 2017 175.0 Calls @ .30 (sold for 1.10)
#ShortCalls – Still reducing basis of a DITM put. Replacing this week’s expiration with another one…staying in the week before earnings.
Sold CMG JUL 21 2017 425.0 Call @ 3.30
#LongStock – Missed posting this scalp earlier Friday:
Sold XIV stock @ 84.60 (bought for 82.57)
Kind of interesting reading if you’re bored…have to enter an email and a name to download.
https://vixcontango.com/Site/DownloadWhitePaper
This caught my eye:
Liquidation (Unexpected Overnight Volatility Spike) If the VIX futures jump more than 80% in a day, the prospectus of the Short Volatility ETN (XIV) stipulates that Credit Suisse may terminate the instrument. While this has not happened yet while XIV has been around, it is a feasible scenario. If the XIV had been around for the October 19th, 1987 Black Monday market crash that saw the S&P 500 lose in excess of -20% in one day, the XIV would almost certainly have been bankrupt on that day. But even without bankruptcy, the XIV can experience dramatic one day losses. An example of that was during the British European Exit Referendum in June of 2016 (Brexit) when the S&P 500 dropped -5% overnight due to the unexpected result. The VIX spike was very big that day because market participants weren’t positioned correctly. As investors rushed to buy systemic market hedges (SPX put options), the VIX jumped 49.3% resulting in the biggest daily drop for the XIV ever of -26.8%. Historically, the VIX has had 4 days with spikes over 50% with the maximum spike of 64% ever recorded happening on February 27th, 2007 when there was massive selloff on the Shanghai exchange which spilled over into the US markets. Unimaginable events such as a sudden nuclear explosion in a major market center could cause an even bigger VIX spike thus putting an unmanaged short volatility strategy and the XIV at a significant liquidation risk.
#ShortStrangles – Still selling weeklies against some slightly ITM short calls…
Rolled WYNN JUN 30 2017 135.0 Puts to JUL 7 2017 135.0 Puts @ 1.50 credit
#IRA #LongCallDiagonals – Whiz style…was gonna do this after the split but taking advantage of the pullback now. One quarter position size just in case the drop accelerates.
Bought SVXY JAN 18 2019 150.0 Call @ 50.53
Sold SVXY JAN 18 2019 100.0/80.0 Bull Put Spread @ 7.03
And:
Sold SVXY JUL 14 2017 165.0 Call @ 3.00
Total position is a net debit of 40.50 with 81 weeks to run…need to collect .50 per week on the front month calls to breakeven.
#ShortStrangles – Sold 1 SVXY JAN 18 2019 80.0/320.0 Strangle @ 23.24
#ShortPuts #IRA – Sold SVXY SEP 15 2017 90.0 Put @ 2.55
#CoveredCalls – Hanging on to the stock for a few more weeks…picking up another 2.20 of potential upside while keeping plenty of downside protection.
Rolled SVXY JUN 30 2017 138.0 Call to JUL 21 2017 140.0 Call @ .20 credit
#ShortCalls – Double selling against some ITM puts. Closed this week’s already and have a stop set on July monthlies at 50 percent of max profit. That all seems good so adding another batch…still keeping everything before earnings week.
Sold NVDA JUL 28 2017 175.0 Calls @ 1.10 (half position for now)
#PerpetualRollingStrangles – Again…
Bought to Close TLT JUN 30 2017 126.0 Puts @ .04 (sold for 1.00)
Sold TLT JUL 21 2017 127.5 Puts @ .95
#ShortCalls – Closing a little scalp against a long position…
Bought to Close NVDA JUN 30 2017 175.0 Calls @ .05 (sold for 1.10)
#Futures – A little more basis improvement on the short /ES hedge…so far keeping up with the rise. Should pay off someday when we get an Aug 2015 repeat.
SOLD /ES AUG 17 (Wk3) 2325 PUT @ 11.00
#IRA #ShortPuts – Sold REGN JAN 19 2018 350.0 Put @ 5.90
#ShortPuts – Back in but staying away from call sales…
Sold REGN JUL 28 2017 425.0 Put @ 2.00
In anticipation of the next split I’m selling the rest of this position. Order has been in for awhile but wasn’t getting filled so came down a nickel…throw ’em in the drawer and check in six months. Got 2.92 for the first batch…taking a little less here.
#IRA #VXXGame – Once we get another reverse split and a little more drop after that I’ll cover these. Looking for 50 percent of max…
Sold UVXY JAN 18 2019 5.0/15.0 Bear call spreads @ 1.92
#LongCallDiagonals – Trying to take my lessons learned from AMZN and GOOGL. This thing is coming out of a daily squeeze and maybe just getting started. Rolling front month out and up early…this picks up about 100 deltas on the overall position.
Rolled VRX JUL 21 2017 16.0 Calls out and up to AUG 18 2017 18.0 Calls @ .03 debit
Still long Jan 2019 10 calls and short Jan 2019 7.5/5.0 Bull put spreads…
#ShortStrangles – What a move! I sure didn’t see a two month 200 point move in a 350 dollar stock coming. Had something like 350/450 strangles when this thing took off. Rolled the 450 out to Sep and started rolling the 350 up as she climbed. Wasn’t nearly aggressive enough and kept getting further behind. Finally bailed on the whole thing yesterday when I heard new health care proposal could be pretty friendly to drug companies.
Long story short…gave back all of my REGN profits for the year plus about another 25 points. Being hard headed, I’ll set that aside and look to get it back on next pullback. Grrr…hate getting thumped by one of my all time favorite tickers. I thought we were friends!
#LongCallDiagonals – Long term diagonal (Whiz style trade) is pretty much dead money now so booking it. With the near vertical rise in this thing the short term call got away from me. So far ITM now that profit is basically capped on the LEAP call. After rolling the LEAP call up a couple times to reduce risk, I’m closing the whole thing except the Jan 2019 500/400 BuPS which I’ll close if I ever need the buying power. Ideally we get a pullback to start all over again.
Bought to Close GOOGL DEC 15 2017 900.0 Call @ 110.65
Sold to Close GOOGL JAN 18 2019 850.0 Call @ 194.70
After roll ups of LEAP call basis was down to 31.00 and front month sales brought in another 13.9 points.
When it’s all said and done a net gain of 66.95. Worked pretty good but having that front month call in the way really hurt. Next time I’ll be more aggressive getting out of the way. Of course, who could’ve seen a 250 point six month run coming…wow!
#LongCallDiagonals – Long term diagonal (Whiz style trade) is pretty much dead money now so booking it. With the near vertical rise in this thing the short term call got away from me. So far ITM now that profit is basically capped on the LEAP call. After rolling the LEAP call up a couple times to reduce risk, I’m closing the whole thing except the Jan 2019 500/400 BuPS which I’ll close if I ever need the buying power. Ideally we get a pullback to start all over again.
Bought to Close AMZN DEC 15 2017 865.0 Call @ 167.20
Sold to Close AMZN JAN 18 2019 850.0 Call @ 239.1
After roll ups of LEAP call basis was down to 30.75 and front month sales brought in another 38.7 points.
When it’s all said and done a net gain of 79.85. Worked pretty good but having that front month call in the way really hurt. Next time I’ll be more aggressive getting out of the way. Of course, who could’ve seen a 300 point six month run coming…wow!
#ShortStrangles – Making an adjustment but adding a little downside protection…
Started out as a Jan 2018 175/500 strangle @ 6.10 credit
Rolled 175 to 250 @ 7.40 credit
Today rolled 250 to a 300/200 bull put spread @ 6.27 credit.
Position now 300/200 BuPS against 500 call @ 19.77 credit.
Can this thing see 500 by Jan 2018? TOS says 85 percent chance it won’t get there and a 70 percent chance 300 won’t get hit so still slightly higher downside risk.
#ShortStrangles – Replacing this week’s expiration…still selling against ITM calls.
Sold WYNN JUN 30 2017 135.0 Puts @ 1.35
#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
Options Bistro 