#IRA #ShortCalls #VXXGame – I know this sounds backasswards but these were practically unchanged on the little bounce right after the open. Thinning out some risk and looking to sell lower eventually…
Bought to Close SVXY SEP 15 2017 60.0 Put @ .81 (sold for 3.15)
Bought to Close SVXY SEP 15 2017 65.0 Put @ .96 (sold for 3.97)
Bought to Close SVXY SEP 15 2017 70.0 Put @ 1.20 (sold for 3.25)
And one small sale:
Sold SVXY DEC 15 2017 70.0 Put @ 2.30
#Earnings – Sold 50/52/54 skewed iron fly @ 1.62
Risk 38 to make 162. Two dollars wide on a 2.66 expected move. Obviously I’m looking for all of that move to the downside…
#ShortStrangles – Breaking out to a new leg higher after a short earnings consolidation. Rolling up again…
Rolled ISRG MAY 19 2017 850.0 Put to MAY 19 2017 865.0 Put @ 4.70 Credit
Now short this week’s 865.0 put @ 14.65 selling against a June 855.0 call. With no pullback the plan is to take a little of the put premium and pay to roll up the call and sell another put next week.
#ShortStrangles – Making a pretty aggressive roll here. Feels like it might wanna gravitate towards 500 by expiration…
Rolled CMG MAY 19 2017 487.5 Put to MAY 19 2017 500.0 Put @ 6.00 Credit
Now short this week’s 500 put @ 16.10 selling against a June 450.0 call. With no pullback the plan is to take a little of the put premium and pay to roll up the call and sell another put next week.
#VXXGame – Sort of a #TakeOneForTheTeam but pretty conservative. I’m losing a lot of long deltas from Sep and Jan put sales down in the 50, 55, 60, and 65 area so adding a few higher with a close eye on the previous ones. I’ll book those if things get dicey and leave these new ones. My position size is bigger temporarily but it won’t be if we get weak. These are margin free against short calls…
Sold SVXY JAN 19 2018 70.0 Put @ 2.56
Sold SVXY JAN 19 2018 75.0 Put @ 3.21
Sold SVXY JAN 19 2018 80.0 Put @ 3.90
#ShortStrangles – Still trying to talk her down off the ledge…
Rolled REGN MAY 19 2017 435.0 Puts to MAY 19 2017 445.0 Puts @ 3.20 credit.
Total premium received for 2 weeks of put sales now up to 16.50. At some point might use a little of this to roll up Sep 420 calls…
#Futures – Looks like I’ll be taking a short position this Friday with a basis of 2387. Pre-selling a put against it to raise the basis even further while still giving a little room for some profit on a pullback.
SOLD /ES JUN 17 2400 PUT @ 23.50
#ShortCalls #VXXGame – Looks like my tiny stock position will go away today so will be needing some protection for a bunch of Jan 2018 short calls. Even though all the strikes are above even my most aggressive projections for SVXY, I’m trying a new style of “protection”.
Sold 3 SVXY JAN 19 2018 200.0/190.0 Bull put spreads @ 7.20
If she continues up towards my lowest SVXY projection, this makes nice cash prior to any short call strikes getting hit. If it tanks, no matter how low it goes, I’ll own the stock 2.80 below where it’s trading at the time.
Anything between 200 and 225 (my lowest call strike) everything is a max winner and 2018 will be off to a great start. Reasonable protection for cheap with very little downside risk. I like it!
EDIT… ” I’ll own the stock 2.80 below where it’s trading at the time”.
You can scroll down a couple posts to my comment in Jeff’s “NVDA, partial roll” thread to see my reasoning for this. Basically, Dan pointed out in his free video last night the weekly squeeze in NVDA. TOS shows it just getting started and JC says these usually run 8-10 bars.
Because of all of this, and all the premium booked yesterday, I feel I can get a little directional and if it doesn’t work can get the stock at a very nice basis if required.
Rolled Sep 120 and 130 calls to Jun 140 puts @ 1.50 debit avg per contract
Sold NVDA JUN 16 2017 150.0 Calls @ .80
More than made up that .70 debit with this:
Bought to Close NVDA MAY 19 2017 128.0 Put @ 2.45 (sold for 5.76)
Bought to Close NVDA MAY 19 2017 129.0 Put @ 3.15 (sold for 6.58)
Bought to Close NVDA MAY 19 2017 130.0 Put @ 3.45 (sold for 7.54)
Bought to Close NVDA MAY 19 2017 131.0 Put @ 4.05 (sold for 7.77)
Bought to Close NVDA MAY 19 2017 132.0 Put @ 4.75 (sold for 8.42)
So, what’s the big picture?
Stock moves up it’s all good. Stock tanks and I roll puts down and eventually own the stock 8 dollars below the put strike since total premium so far is about 8 dollars per contract. Hopefully can have this all wrapped up by next earnings where we can do it all again! 🙂 🙂
My crude but simple chart courtesy of freestockcharts.com shows a couple possibilities for SVXY by Jan 2018 expiration.
1. We stay below the long term very aggressive upper trend line (yellow) and don’t exceed 195
2. We make a similar run as the one from last July to this most recent all time high (orange lines) starting with the low point of this last dip. That would take us to the 223 area.
*** Light blue vertical is Jan 2018 expiry and light blue horizontals are max estimates based on the two scenarios.
I’m not a fib guy or any of the fancy stuff. This is just a rough outline based on it’s history. Unless the VIX goes to zero I can’t see it exceeding the long term yellow line but who knows…I’m keeping all my call sales in Jan above 225 figuring it will hold.
========================================================================================
#ShortStrangles – Filled earlier but missed it. Sold against a 295 put. We’ll see where that ends up next week before selling another call.
Bought to Close IBB MAY 19 2017 300.0 Call @ .40 (sold for 3.00)
#ShortStrangles – I’m feeling like tomorrow’s 430.0 puts will be safe (sold for 6.30)
So:
Rolled Aug 410 calls to Sep 420 calls @ 3.25 debit…I’ll keep the other 3.05 as a profit. With these that far out in time it will cost about 3 dollars for evey 5 dollar roll up. I’ll try to keep collecting 5-6 per week to finance that and book some profit.
#LongCallDiagonals – Just started this trade yesterday and already needing adjusted. I’m seeing 18 and 19 price targets on it now so gotta get the short calls out of the way of the LEAP calls.
Rolled May 19th 13.5 calls out to July 21st 16’s @ .04 debit (still a net .18 credit on these)
This clears the decks for a run all the way to at least 20 before the short calls and long calls have equal deltas.
EDIT…. 24.60 is the delta neutral number…LOL If we get there the trade is over. Fuzzy will be long gone!
Giving it a little room on this #LongCallDiagonals …
Sold JPM MAY 26 2017 88.5 Calls @ .45
I’m long a little stock @ 151.14 from a #TakeOneForTheTeamTrade …. since I’ve got another one of these for next week I wouldn’t mind unloading the stock so covering it for tomorrow. If nothing else, I’ll reduce the basis a little.
Sold SVXY MAY 12 2017 151.0 Call @ 1.30
#ShortStrangles – Rolled May 12th 850.0 put out to May 19th 850.0 @ 2.25 credit
Sold against June 855.0 call…once I feel this call is safe I’ll start rolling the put down and out. I’d like to be completely out of this position by next earnings.
Since earnings one ISRG strangle has brought in 20.65 in premium against 11k margin.
Bought to Close NVDA MAY 12 2017 118.0 Puts @ .35 (sold for 4.34 and 3.16 yesterday)
Sold NVDA MAY 19 2017 120.0 Put @ 2.27
Sold NVDA MAY 19 2017 121.0 Put @ 2.75
Sold NVDA MAY 19 2017 122.0 Put @ 3.29
Sold NVDA MAY 19 2017 123.0 Puts @ 3.87
Used a tiny portion of premium received to roll up and out a couple calls:
Rolled Jun 23rd 115 calls out and up to Jul 21st 120’s @ 2.16 debit
#PerpetualRollingStrangles – Selling some and rolling some…
Sold TLT JUN 2 2017 121.5 Calls @ .53
Rolled May 19th 123.5 puts to Jun 9th 123.0 @ even
Heading out to start the move…another semester done. Have a great day everyone!!
#LongCallDiagonals – This is a low risk and possible high reward shot. Using the Whiz long call diagonal with protective put strategy. Low out of pocket cost and should recover all of it pretty early in the trade. Buying LEAP calls and selling narrow LEAP bull put spreads to reduce initial cost. Then, selling front month calls against the position similat to AMZN, GOOGL, and JPM trades I’m currently in.
Bought Jan 2019 10 calls and sold Jan 2019 7.5/5.0 bull put spreads @ 4.75 debit.
Still deciding when and where to sell the first batch of front month calls…
#LongCallDiagonals – In this trade similar to my AMZN and GOOGL trades. Long LEAP calls and selling front month against them. JPM perking up a little so getting out of the way for now. Don’t wanna get caught with front month ITM if she moves higher. Pretty happy already receiving over 5 points in front month premium in a few weeks during it’s little pullback.
Bought to Close JPM MAY 12 2017 87.5 Calls @ .25 (sold for .45)
#PerpetualRollingStrangles – Somehow got a partial fill on this right at the open…LOL
Bought to Close TLT MAY 12 2017 121.5 Calls @ .05 (sold for .75)
Looking to re-deploy out a couple weeks….
#Earnings #ShortStrangles – Had an existing inverted strangle along with an earnings strangle. Adjusting all of them…
Bought to Close NVDA MAY 12 2017 98.0 Puts @ .02 (sold for 1.96)
Bought to Close NVDA MAY 12 2017 113.0 Puts @ .97 (sold for 4.40)
And on the little opening dip:
Sold NVDA MAY 12 2017 118.0 Puts @ 4.34
Sold NVDA MAY 12 2017 118.0 Puts @ 3.16 (too slow on this one)
With these secondary “double dip” put sales I’m testing the John Carter theory that says a gap up beyond the expected move usually continues it’s run so sold the puts in the money for Friday.
Still holding short 108 and 112 calls that will be rolled out or out into new strangles later this week.
#LongCallDiagonals – Still fighting the short call but that’s a good thing. Rolling it up and out and reducing basis on long call LEAP (again).
Rolled Oct 20th 850.0 short call to Dec 15th 865.0 call @ .21 credit
And:
Rolled Jan 2019 750.0 long call up to Jan 2019 850.0 call @ 67.00 credit (new basis now 30.50)
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
#LongCallDiagonals – Still fighting the short call but that’s a good thing. Rolling it up and out and reducing basis on long call LEAP (again).
Rolled Sep 15th 880.0 short call to Dec 15th 900.0 call @ .50 credit
And:
Rolled Jan 2019 750.0 long call up to Jan 2019 850.0 call @ 73.55 credit (new basis now 31.00)
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
#PerpetualRollingStrangles – A couple small adjustments to keep the theta up…
Bought to Close TLT MAY 19 2017 124.0 Calls @ .09 (sold for .96)
Sold TLT MAY 26 2017 121.5 Calls @ .60
#Earnings #ShortStrangles – Busy week so checking in for a couple minutes. Already have a long term position in NVDA but premiums look so good will probably be selling some more strangles today. Current position is long a few deltas so looking at a skewed strangle in the neighborhood of 95/110.
Good luck everyone!
http://www.euroinvestor.com/news/2017/05/03/velocityshares-launches-first-european-volatility-etns/13589275
My first foray into crude futures so staying low risk. If we get a pop it’s a decent profit. If she tanks (doesn’t matter how low it goes) I’ll be long one dollar below where it’s trading in August. Pretty decent call premium for selling covered when (if) I get assigned.
SOLD /CL AUG 17 48/46 BULL PUT SPREAD @ 1.00
#ShortStrangles – Bought to Close REGN MAY 5 2017 422.5 Puts @ .20 (sold for 25.20)
And:
Sold to Open REGN MAY 12 2017 430.0 Puts @ 6.50
#ShortCalls – Adding to top of the ladder…
Sold SVXY JAN 19 2018 260.0 Call @ 3.20
#ShortStrangles – To eliminate any risk of overnight assignment…
Rolled this week’s 490 put out two weeks to 487.5 @ .55 credit. This is against a DITM short call so a welcome pullback.
#Earnings – Making sure I get out of this….not risking a big drop tomorrow and saving exercise fees. Made about what my earnings trade target was by holding an extra week.
Sold to Close GILD Stock/Covered Calls @ 66.94 (basis 65.90)
EDIT… “Sold to Close”
#TakeOneForTheTeam – Took an additional stealth one for the team (didn’t post it due to the risk). Sold this week’s 151/156 BuPS early in the week. Got assigned last night on the 156 put so this morning sold the long put @ 2.20. Received 2.84 for the original sale so in the stock @ 151.
I’ll probably hang on to it for awhile to help protect Jan 2018 short calls @ 225, 230, 235, 240, 245, 250, and 255.
As of right now delta on the shares vs the short calls is -27. This becomes delta neutral @ 140.55 so I may end up selling a few more calls for some extra downside protection.
#ShortStrangles – Learned (again) another valuable lesson. Had short calls on this thing that could’ve been closed for pretty cheap one week ago today. Now…not so much after a straight up 70 dollar move in a week. These calls (382.5 and 390) will be rolled to new strangles or way out and up and then sell the crap out of weeklies against them.
The good news is I chased short puts all the way up the run collecting great premium along the way….
Currently the puts are:
422.5 @ 23.25 each average. These include rolls from 375 to 380 to 385 to 395 to 400 to 410 to 422.5…LOL!
Lots of maneuvering room here but would’ve been much easier to take the 80 percent of max winner last week…
#IRA – Replacing a closed position from yesterday…
Sold SVXY DEC 15 2017 80.0 Put @ 3.50
#ShortStrangles – Sold TSLA JAN 19 2018 175.0/500.0 Strangle @ 6.10
#Earnings – Once it broke 300 I bailed at even.
Bought to Close TSLA MAY 19 2017 295.0/350.0 Strangle @ 5.95 (sold for 6.00)
Crazy…
http://www.zerohedge.com/news/2017-05-03/there-now-quadruple-leveraged-sp-500-etf
#Earnings – Just for fun trying something a little different. Since I don’t want to sell any more than one strangle, gonna go out in time a little for more premium.
Sold 1 TSLA MAY 19 2017 295.0/350.0 Strangle @ 6.00
My highest strike in the #IRA … freeing up margin for the next opportunity.
Bought to Close SVXY MAY 19 2017 90.0 Put @ .20 (sold for 2.75)
If I didn’t have positions already, I’d be looking at this one…
#ShortCalls – New NUGT options available today. Selling a combo since they both can’t lose…highest NUGT strike so far paired with whatever DUST strike brings equal premium.
Sold NUGT JUL 21 2017 45.0 Call @ 2.10
Sold DUST JUL 21 2017 50.0 Call @ 2.20
Possibly my favorite #PerpetualRollingStrangles …
Rolled this week’s 123.5 puts out to May monthly 123.5 @ .38 credit.
Paired with many calls near the same strike out over the next few weeks.
#PerpetualRollingStrangles – Another roll. They add up over time…
Rolled this week’s 120.5/113.0 inverted strangles to May monthly same strikes @ .55 credit.
Came close to getting out of the 120.5 puts but she reversed too soon…
#ShortStrangles – My only problem child…time for more aggressive punishment to force some cooperation.
Short a Jun 450 call and a May 470 put so:
Rolled May 470 put in and up to this week’s 490 @ 2.55 credit.
Total premium received on the 490 put is now up to 9.56. Plan is to keep selling at or slightly in the money puts every week until a reversal. Otherwise will have plenty of credit in the position for a debit roll of the call.
#PerpetualRollingStrangles – Replacing this week’s…
Sold EWW MAY 26 2017 51.5 Puts @ .75
#LongCallDiagonals – Paying a small debit but that’s ok since this short call has accumulated 10.15 in premium so far.
Rolled May 12th 857.5 call to Sep 15th 880.0 call @ .90 debit
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
Looking at rolling the 2019 long call up (again) which would take nearly all the risk out of the trade…
#TakeOneForTheTeam #ShortStrangles – Looks like we need another one of these so here goes….
Sold SVXY MAY 19 2017 160.0/155.0 Bull put spreads @ 3.07
Even with an implosion I’ll get the stock just a measly 1.93 below where it’s trading then…
#ShortStrangles – WYNN did it to me again….same as last quarter. Changed earnings dates the weekend before the announcement. Had rolled my strangle into what was supposed to be the week before earnings. Plan was to then have a nice adjusting roll into earnings week. Turned out to be the week of earnings so IV exploded along with a huge move so adjusting again. Kind of a pain but has been a nice cash generator last few months.
Bought to Close WYNN APR 28 2017 120.0 Puts @ .05 (sold for 2.17)
Rolled WYNN 105 calls to May monthly 130/110 inverted @ 1.12 credit.
#ShortStrangles – Having to take care of some of these earlier than I would like but I’ll be out the rest of the week except for maybe a few last minute rolls from the phone (in between golf shots 🙂 )
Bought to Close CMG APR 28 2017 480.0 Put @ 6.10 (sold for 15.00 after multiple roll-ups)
Replacing that with:
Sold CMG MAY 19 2017 470.0 Put @ 7.01
Selling against a Jun 450 short call…
#ShortStrangles – I’m booking the quick profit since it was a decent size position (for me). Looking to sell again as the paranoia of the May 7th runoff gets wound up…
Bought to Close FXE MAY 19 2017 101.0/107.0 Strangles @ .50 (sold for 1.02)
#CoveredCalls #IRA – Sold FEYE May 5 2017 12.0 Calls @ .96
After months and months of selling I’ll finally be out at a tiny profit. Sold this last batch in earnings week so great premium. Of course, now that my upside is capped, it’ll jump 50 percent on the announcement…LOL
#Earnings #ShortStrangles – Could let this thing go at breakeven today but….it’s brought in nice premium so I’m gonna give it another week and try to get one side to expire then work with the other side for awhile.
Rolled 815/800 inverted strangle out to next week’s 817.5/815 inverted @ .20 credit.
New position is now 817.5/815 inverted @ 15.33
I’d prefer the call side to expire since the put should be easier to roll. Another option would be to roll whatever side is left out to a new, wider strangle.
A new ticker I’m adding. Super low margin with decent liquidity and premium…
Sold FXE MAY 19 2017 101.0/107.0 Strangles @ 1.02
Joining TLT, GLD, EWW in my #PerpetualRollingStrangles experiment…
#ShortStrangles – Rolled this week’s 295 put out to May monthly @ 3.00 credit. Sold against a 300 call…
Position now 295/300 strangle @ 8.65
#FallingKnife – 10 year low…anyone like hot chocolate?
#LongCallDiagonals – Earnings next week so rolling this thing up to at the money. Paying a small debit but that’s ok since this short call has accumulated 13.00 in premium so far.
Rolled Apr 21st 840.0 call to Apr 28th 855.0 @ .75 debit
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
#LongCallDiagonals #IRA – Still selling weeklies while she rests…
Bought to Close JPM APR 21 2017 87.0 Calls @ .04 (sold for .47)
Sold JPM APR 28 2017 86.5 Calls @ .45
#ShortStrangles – Looks like the short term run is over. Closing put side of strangle at even and re-selling in the same expiration where I rolled the calls earlier.
Bought to Close EWW APR 21 2017 52.5 Puts @ 1.73 (sold for 1.75)
Sold EWW MAY 12 2017 49.0 Puts @ .61
New position is now May 12th 49/50 Strangles @ 1.43
#Earnings – Bought to Close ISRG APR 21 2017 720.0 Put @ .05
This leaves 5.04 of premium from the original strangle. Still sitting on the short 800 call.
Also:
Sold ISRG APR 21 2017 805.0 Put @ 6.40
Position is now 805/800 inverted @ 11.44 credit. That give plenty of maneuvering room for an end of week roll if needed. Not ideal but could still work out unless ISRG pulls a CMG and goes to 1000!
#ShortStrangles – Bought to Close CMG APR 21 2017 455.0 Put @ .10 (sold for 6.15 after a couple roll ups)
Still have the short 440 call from the other side of the strangle. With earnings next week I could roll it up a few strikes and sell another aggressive put or just split it up into a new strangle…
From a newsletter I receive…FWIW
#Earnings – Is this crazy? Breakeven at 8.05. Risking .05 to make .95 About like a hand of blackjack…
Sold RENN APR 21 2017 9.0/8.0 Bull put spreads @ .95
#IronCondors – Legging in staying small. Low (zero?) risk with decent return.
Yesterday Sold Apr 21st 2360/2365 Bear call spreads @ 1.00
Today Sold Apr 21st 2330/2325 Bull put spreads @ 1.55
2.55 credit on 2.50 wide condors. Now risk free but need to hold 2330 by end of week. Let ‘er ride!
Rolled Apr 28th 119.5 calls to Jun 120 monthlies @ .10 credit
Rolled Apr 28th 119.0 calls to Jul 120 monthlies @ .02 credit
Replacing a fairly sizable expiration this week with next week’s:
Sold TLT APR 28 2017 123.5 Puts @ .82
#Earnings #IronFlies – Bought to Close GS APR 21 2017 222.5/225.0/227.5 iron flies @ 2.28 (sold for 2.14)
Taking tiny loss and looking for other opportunities…
#Earnings #ShortStrangles – Bought to Close NFLX APR 21 2017 140.0/165.0 Strangles @ .40 (sold for 3.80)
Sold to Close NFLX JUN 16 2017 100.0 Puts @ .08 (bought for .17)
🙂 🙂
#Earnings #IronFlies – Having a pretty good year in this ticker so risking a few shekels with iron flies…
Sold GS APR 21 2017 222.5/225.0/227.5 iron flies @ 2.14
Risk 36 to make 214 per fly. 2.50 wide with an expected move of 1.60
#Earnings #ShortStrangles – No position in this thing right now so taking a fairly aggressive, slightly bullish shot.
Sold NFLX APR 21 2017 140.0/165.0 Strangles @ 3.80
No nukes over the weekend so re-covering my short emini with a put. I’ll also add a buy stop on the emini at breakeven and sell a call to re-establish the short position if stopped out.
Emini contract short @ 2339.0 with a buy stop at that level
And:
SOLD /ES MAY 17 (Wk3) 2275 PUT @ 23.00
SOLD /ES MAY 17 (Wk3) 2375 CALL @ 12.00
Max gain on this position if we continue down is 99 points. I’d also have the option of rolling the put further out and down if needed.
http://www.cnbc.com/2017/04/13/musk-says-tesla-set-to-unveil-semi-truck-in-september.html
#Futures – Been selling puts against the short emini gradually raising it’s basis. Closing the put for the weekend for a little extra protection.
Bought to Close /ES MAY 17 (Wk3) 2340 PUT @ 38.75
Options Bistro 