#ShortStrangles – Caught an upgrade this morning. These analysts can be annoying sometimes.
Rolled WYNN AUG 18 2017 128.0 Puts to WYNN AUG 18 2017 133.0 Puts @ 1.00 credit
Author Archives: fuzzballl
AMZN
#LongCallDiagonals – Small roll until this thing proves it can get through the 50ma…
Rolled AMZN AUG 18 2017 970.0 Call to AUG 25 2017 975.0 Call @ 1.00 credit
32.80 in front month premium received in just 17 days. Trade could run as much as another 96 weeks to June 2019…
VXX
Gonna classify this under a new hashtag. The infamous #LongPutDiagonals although it will probably more than likely end up being a long term short stock position after the upcoming split. For now just messing around this week to get started…about a one-tenth position size.
Sold VXX AUG 18 2017 11.0/13.o Bear Call Spreads @ 1.00
Makes money below 12 and gets me some short stock if she spikes…I’ll add the rest after the split.
GLD
#PerpetualRollingStrangles – For safety since I’m pretty heavy on the put side…
Bought to Close GLD AUG 18 2017 121.0 Puts @ .25 (sold for 1.15)
NVDA
#ShortStrangles – Sold the puts pretty conservatively the other day waiting for a bounce. Looks like we’re getting it so moving up to just under the 50ma…
Rolled NVDA SEP 15 2017 135.0 Puts to NVDA SEP 15 2017 155.0 Puts @ 3.55 credit.
Position is now 155/175 Strangles @ 7.30
TOS update
Crashed all my watchlists. Guess I know how I’m spending my day. They can’t fix it either…
ISRG
Just announced 3 for 1 split for September. Should be a much better trading vehicle after that. It’s another position I’ve been working awhile to get back to even. Long stock covered with a 900 call and breakeven of 903. One more roll and she’ll be green finally.
https://globenewswire.com/news-release/2017/08/11/1083856/0/en/Intuitive-Surgical-Board-of-Directors-Approves-a-Three-for-One-Stock-Split.html
GLD adjustment
#PerpetualRollingStrangles – Could Gartman be right? LOL…rolling out short calls and double selling puts until she turns around.
Rolled GLD SEP 15 2017 117.0 Calls to NOV 17 2017 118.0 Calls @ .21 credit
And:
Sold GLD SEP 1 2017 122.0 Puts @ 1.00
This was an additional sale of a full position. Still holding a full position of 121’s for next week with a stop on them at 50 percent of max gain.
UVXY
NVDA
#ShortPuts – Small in the #IRA replacing the ones closed earlier this week. These are right around the 200ma…
Sold NVDA JAN 19 2018 110.0 Put @ 2.50
Sold NVDA JAN 19 2018 120.0 Put @ 4.25
NUGT DUST combo platter
Closed these earlier this week hoping for some gold volatility to re-sell…
Bought to Close NUGT DEC 15 2017 58.0 Call @ 1.29 (sold for 4.30)
Bought to Close DUST DEC 15 2017 50.0 Call @ 1.50 (sold for 3.90)
WYNN
#ShortStrangles – This is actually a good thing. As the puts get gradually rolled down we’re getting closer to the short 120 calls. Keep going!
Rolled WYNN AUG 11 2017 129.0 Puts to AUG 18 2017 128.0 Puts @ even
NVDA
#IRA #ShortPuts – Another one I missed earlier this week. They were pretty profitable so didn’t want to hold through earnings.
Bought to Close NVDA JAN 19 2018 100.0 Put @ 1.08 (sold for 3.50)
Bought to Close NVDA JAN 19 2018 110.0 Put @ 1.80 (sold for 5.50)
SVXY
#ShortPuts #VXXGame – Earlier this week:
Bought to Close SVXY SEP 15 2017 42.5 Puts @ .50 (sold for 1.15)
Bought to Close SVXY SEP 15 2017 45.0 Puts @ .57 (sold for 1.27)
Replacing with these and smaller:
Sold 1 SVXY DEC 15 2017 40.0 Put @ 2.77
Sold 1 SVXY DEC 15 2017 45.0 Put @ 3.63
UVXY
#NewStrikes #VXXGame – I’ve been sticking mainly to spreads in this thing way out in time for peace of mind and to keep from getting too big. With the NVDA position out of the way I feel more comfortable dipping a toe in on the naked side. Thanks @Iceman for pointing these out. New highest strikes…
These are 200 percent above the all time lows…sometimes that’s not enough so staying small.
Sold 1 UVXY SEP 15 2017 82.0 Call @ 3.40
Sold 1 UVXY DEC 15 2017 82.0 Call @ 9.60
AMZN
#LongCallDiagonals – Keeping up with a lot of the drop. I’ll be selling these aggressively and then hopefully getting out of the way on the way back up (if there is one 🙂 ).
Bought to Close AMZN AUG 11 2017 970.0 Call @ .68 (sold for 17.00)
Rolled this call down from 1000 to 990 to 980 to 970 collecting additional premium all the way down…
Then:
Sold AMZN AUG 18 2017 970.0 Call @ 8.93
Sure can feel the difference in a slightly higher VIX in all options. I’m good with 15 for awhile!
NVDA
#ShortStrangles – Back in….selling at the 100ma and all time high (and much smaller than last time)
Sold NVDA SEP 15 2017 135.0/175.0 Strangles @ 3.75
NVDA
#Earnings #ShortStrangles – Well, after quite a few weeks (months 🙂 ) of rolling and adjusting and collecting premium I’m out with a decent profit on a too big position.
Bought to Close NVDA AUG 11 2017 177.5/160.0 Inverted Strangles @ 20.50 (sold for 27.75)
Was hoping to keep more of it but happy to be out with a winner. Now, looking to get back in on this dip…
VXX 1:4
#ReverseSplit – In a couple weeks…
http://www.businesswire.com/news/home/20170809006219/en/Barclays-Bank-PLC-Announces-Reverse-Split-iPath%C2%AE
UVXY
UVXY
EWY
Maybe one to watch if missles start flying…
SVXY UVXY
Busy most of the week but popping in for a second…
#IRA #ShortPuts – Freeing up a ton of margin just in case…booking these that still have nice profits. Hopefully we’ll get MUCH better entries soon!
Bought to Close SVXY SEP 15 2017 42.5 Puts @ .50 (sold for 1.15)
Bought to Close SVXY SEP 15 2017 45.0 Puts @ .57 (sold for 1.27)
Bought to Close SVXY JAN 19 2018 30.0 Puts @ 1.40 (sold for 2.00)
Bought to Close 10 UVXY1 JAN 18 2019 5.0/15 .0 Bear Call Spreads @ 1.70 (sold for 2.92)
Email from SMM/OMM
Is it just me or does this sound slightly condescending? Seems like it could’ve been worded better. Maybe my reading comprehension sucks too…LOL
—————————————-
Scott,
It’s been 6 months since we last heard from you, and I wanted to know if you’re still interested in learning to trade profitably. If not, just shoot me back a note and I’ll close down your record.
If you are interested, let me know and I’ll send you back a free month trial to Stock Market and Option Market Mentor.
Please reply today, so I can remove you or help you.
Thanks!
Gary
—————————————-
My reply:
You can close me out…thanks Gary. By the way…the email is a little funny sounding. Makes it sound like the person you’re sending it to is not interested in trading profitably unless they come back. Sounds condescending although I’m sure it wasn’t meant to be. 🙂
Scott
—————————————-
TLT GLD
I haven’t been posting any of the #PerpetualRollingStrangles positions but still in them and working. I was getting early exercised a couple times on some DITM TLT. Sometimes as early as 18 days out they were getting tagged. So based on some TT research and trying to maximize P/L per day I’ve been rolling the ITM positions about 3 weeks early and resetting to the 45 day mark. I’ve noticed a huge improvement in daily swings and a nice steady rise in the gains for the positions.
FWIW…
ISRG
#Earnings – Here’s one that’s been a work in progress because it’s been so strong. During it’s earnings run up starting last April I’ve been rolling puts up and went inverted as she passed through my short call at about 875. Finally leveled off and I took the stock at a 904 basis. Since then been rolling the ITM call up.
So finally:
Rolled ISRG AUG 18 2017 895.0 Call to SEP 1 2017 900.0 Call @ .40 credit.
Almost back to even. As Sep approaches have to decide whether to say goodbye at even or keep rolling up to finally get some gains. It’s finally showing some weakness. What a run!
TSLA
#Earnings – Stock feels kinda strong so booking this earnings trade now.
Bought to Close TSLA AUG 4 2017 350.0/345.0 Inverted Strangle @ 6.85 (sold for 9.05)
AAOI
#Earnings – Managing the earnings implosion. Rolling and selling to get the deltas to a more reasonable level.
Started with a scalp:
Bought to Close AAOI AUG 4 2017 75.0 Calls @ .80 (sold for 1.10)
And got all the short puts into same expiration for simplicity:
Rolled AAOI AUG 11 2017 90.0 Put to SEP 22 2017 85.0 Put @ 1.10 debit
Rolled AAOI AUG 18 2017 85.0 Put to SEP 22 2017 85.0 Put @ 3.07 credit
Rolled AAOI AUG 25 2017 80.0 Put to SEP 22 2017 80.0 Put @ 2.54 credit
Against all of that:
Sold AAOI AUG 11 2017 75.0 Calls @ 1.75
AAOI
#Earnings – They did “pre-announce” a few weeks ago with nice results. Could be a sell on the news…who knows. Might wake up in the morning and be at 40 or 140…LOL I’m still taking a small shot anyway. This might be a good one to always have a position or two going for awhile.
Sold these as a package for 11.90:
Sold AAOI AUG 11 2017 90.0 Put @ 4.34
Sold AAOI AUG 18 2017 85.0 Put @ 4.09
Sold AAOI AUG 25 2017 80.0 Put @ 3.47
Then, sold all the matching calls in the first week of the ladder:
Sold AAOI AUG 11 2017 115.0 Calls @ 2.00
So what do I want? Less movement the better but can easily mange anything from 75 to 125. Anything bigger than that will be a little more of a hassle. Market maker move for today is about 10.40…
AMZN
#LongCallDiagonals – Selling next week. Feels like it’s going to be a struggle at 1000 for awhile so selling fairly aggressively.
Bought to Close AMZN AUG 4 2017 1010.0 Call @ .44 (sold for 7.20)
Sold AMZN AUG 11 2017 1000.0 Call @ 7.05
Off Topic
@Iceman tweeted this today. Thought it was pretty interesting so passing it along.
REGN
#ShortStrangles – With earnings out of the way it’s back to a more standard position…
Sold REGN SEP 15 2017 425.0/550.0 Strangle @ 6.80
NVDA (another early assignment)
#ShortStrangles – Was currently in a 180/155 inverted strangle. I’ve been rolling and selling and rolling and selling the crap out of this thing for weeks looking forward to next week’s earnings. Kept thinking the 180 puts were so DITM I’d get assigned early at some point. Finally happened last night.
On the opening pop I sold the stock and then on the small drop sold next week’s 177.5 puts. Also rolled the 155 calls to next week’s 160’s @ .05 credit. Ending up with exactly where I was gonna roll to anyway just had to take a detour to get there and made a little in the process.
Now the good news. Even though the position is inverted, the premium sales have been great the last few months.
Heading into earnings (should be exciting). 177.5/160 inverted with 27.75 premium received.
Anything between the strikes is a 10.25 winner. Breakeven is 149.75 to 187.75
TSLA
#Earnings – Probably a little early on the management but don’t wanna risk it running away from me. It’s a toss up whether the 50 ma holds or not…
Originally sold 285/345 strangle @ 3.00. She gapped up through the 345 so I :
Sold to Open TSLA AUG 4 2017 350.0 Put @ 6.05 (actually sold 340 first then rolled to 350)
What now?
I’m 350/345 inverted @ 9.05 total credit. If we end the week in between the strikes it’s 4.05 winner. Breakeven now is 341 to 354.
REGN
#Earnings – Don’t trust this thing at all so even though the position looks extremely safe I’m bailing for a decent winner…
Bought to Close REGN AUG 4 2017 450.0/520.0 Strangle @ .40 (sold for 4.50)
TSLA REGN
#Earnings – Unfortunately working last 2 days during market hours. Threw a couple orders in ahead of time….filled on these:
TSLA Aug 4th 285/345 Strangle @ 3.00
REGN Aug 4th 450/520 Strangle @ 4.50
Good luck!
EWZ
#LongCallDiagonals #IRA – Appears to be running out of steam so booking a nice winner and freeing up a sizable chunk of margin.
Sold to Close EWZ JAN 18 2019 30.0 Calls @ 9.50
Bought to Close EWZ JAN 18 2019 25.0/20.0 Bull Put Spreads @ .75
Bought to Close EWZ AUG 18 2017 37.0 Calls @ 1.07
Bought to Close EWZ SEP 15 2017 36.0 Calls @ 2.23
After front month premium factored in, a gain of 1.90 each on a good size chunk of contracts. Will definitely re-load this on a pullback.
WDC
#ShortStrangles #ShortPuts #IRA – I wanted a chance to get in. Looks like I got it…
Sold WDC JAN 19 2018 75.0 Put @ 3.95
Sold WDC JAN 19 2018 70.0 Put @ 2.70
And in regular account:
Sold WDC SEP 15 2017 80.0/95.0 Strangle @ 2.90
WDC
#FallingKnife? – Been looking to get in this one at some point.
UVXY pre split
#VXXGame – Only had to go up 8 cents above my standing offer to get filled. Making room for some more sales if we spike a little higher.
Bought to Close UVXY1 JAN 19 2018 25.0/40.0 Bear call spreads @ .38 (sold for 2.70)
AMZN
#LongCallDiagonals Here we go…jumping back in. Whiz style but instead of buying a DITM call I’m going synthetic stock with a protective put and selling front months against. June 2019 now available so going out as far as possible.
Bought to Open AMZN JUN 21 2019 1000.0 strike #SyntheticStock @ 38.00
Bought to Open AMZN JUN 21 2019 700.0 Put @ 30.00
Sold AMZN AUG 4 2017 1035.0 Call @ 4.15
Net debit of 63.85 so need to average 65 (.65) dollars per week of front month sales to breakeven. May end up going monthlies if we head back up to give more room. Similar trades on AMZN GOOGL GS JPM EWZ and VRX have capped what could’ve been huge gains due to selling front month too closely.
AMZN Earnings
#Earnings Bought to Close AMZN July 28th 1030/1050/1070 #IronButterfly @ 19.50 (sold for 17.90)
Don’t see it recovering today so taking what I can get and cutting max loss by .50
EWW
#PerpetualRollingStrangles – With the latest sale I was actually over sold on the put side by 3:1. Showing weakness today so booking the extras…
Bought to Close EWW AUG 11 2017 54.0 Puts @ .11 (sold for .45)
Bought to Close EWW AUG 18 2017 53.0 Puts @ .12 (sold for .91)
/ES hedge
#Futures – Short /ES against short puts for basis improvement. I’ve been slightly over writing the puts to keep up with the rise. Taking some off to give ‘er more downside room.
Bought to Close /ES AUG 17 (Wk1) 2450 PUT @ 4.25 (sold for 12.50)
CMG
#ShortStrangles – Still aggressively selling against a DITM put.
Bought to Close CMG JUL 28 2017 365.0 Call @ .10 (sold for 10.00 after a roll down into earnings)
Sold CMG AUG 4 2017 355.0 Call @ 2.55 (yesterday)
FFIV BMY
EWW
#PerpetualRollingStrangles – Replacing some Aug 11 and Aug 18 positions that are almost worthless.
Sold EWW SEP 15 2017 55.0 Puts @ .61
GILD
#Earnings – Bought 71/74/77 Iron flies @ 1.75 (sold for 2.15)…..small winner
WYNN again
Almost a #PerpetualRollingStrangles position but not really. Just a great stock for premium selling…continuing to sell against ITM calls.
The power of the volatility collapse…even though the stock moved 9 or 10 dollars against my short puts was able to get out of them virtually even. Then was able to go out another week and sell into the drop at lower strikes.
Bought to Close WYNN JUL 28 2017 133.0 Put @ 3.20 (sold for 3.30)
Bought to Close WYNN JUL 28 2017 134.0 Put @ 3.80 (sold for 3.81)
Bought to Close WYNN JUL 28 2017 135.0 Put @ 4.80 (sold for 4.29)
So…lost 40 bucks on those all together. I’ll take it out of this:
Sold WYNN AUG 4 2017 130.0 Puts @ 2.45
WYNN
#IRA #ShortPuts – Thanks @jsd501 !
Sold WYNN JAN 19 2018 100 Puts @ 2.70
CAT
#IRA #ShortPuts – Freeing up quite a bit of margin for a few cents…
Bought to Close CAT JAN 19 2018 60 Puts @ .17 (Sold for 1.30)
GILD
#Earnings – Sold 71/74/77 Iron flies @ 2.15
Risk 85 to make 215…3 wide on a 3.45 expected move.
SVXY
#TakeOneForTheTeam #VXXGame – Filled on the little pop…
Bought to Close SVXY JUL 28 2017 95.0/90.0 Bull Put Spreads @ 1.76 (sold for 3.26)
VRX
#Earnings coming in a couple weeks and I’m planning on something fairly aggressive to the long side in an #IRA so booking my #LongCallDiagonals for nice profits in a different account…
Sold to Close VRX JAN 18 2019 10.0 Calls /// Buy to Close VRX AUG 18 2017 18.0 Calls @ 8.06 credit (bought for 4.78)
Leaving the 7.5/5.0 Bull put spreads on for now…
GOOGL
#Earnings – Out all day so just stuck an order in to get out at breakeven. Filled pretty quickly…
Bought to Close GOOGL 980/1000/1020 iron fly @ 17.75 (sold for 17.75)
UVXY pre-split
#VXXGame #ContangoETFs – Bought to Close UVXY1 JAN 19 2018 30.0/40.0 Bear Call Spreads @ .20 (sold for 1.75)
SVXY
#ShortCalls #ReverseRoll – Moving my lowest strike Jan 2018 short calls over to the put side. The last time I did this I rolled to out of the money naked puts and we imploded and I was stuck with some underwater stock for months. This time rolling to higher put strikes but using spreads. If we implode now I’ll still get stock at a reasonable price…
Rolled SVXY JAN 19 2018 112.5 Calls to JAN 19 2018 105.0/95.0 Bull Put Spreads @ .12 credit.
Original sale of the calls brought in 3.07 so total premium now 3.19. With the ten wide spread no matter how far she tanks I can be in the stock at basis just a few dollars above wherever it ends up.
SVXY
#ShortPuts #IRA – Freeing up some buying power…
Bought to Close SVXY AUG 18 2017 45.0 Puts @ .10 (sold for 1.15)
TSLA
#ShortCalls -Selling against a long term bull put spread. Replacing this week’s expiring 335 call and staying in the week before earnings…
Sold TSLA JUL 28 2017 342.5 Call @ 2.10
SVXY stock
#CoveredCalls – Instead of paying the exercise fee I’m saving a few bucks by closing these now…
Sold SVXY stock covered by 77.50 calls @ 77.49 (basis of 75.25)
Sold SVXY stock covered by 70.00 calls @ 69.96 (basis of 65.45)
ISRG
#CoveredCalls – Still working this from last earnings. Took the stock and going the covered call route…this gets the call up to about breakeven on the stock.
Rolled ISRG JUL 21 2017 890.0 Call to AUG 18 2017 895.0 Call @ 2.30 credit
AAOI
#ShortPuts – This was an #Earnings play but with the big run up I’m gonna book it too. Hopefully we get a weak day before earnings to sell something else…
Bought to Close AAOI AUG 4 2017 65.0 Puts @ 1.10 (sold for 2.25)
WYNN
#ShortStrangles – #Earnings next week….
Bought to Close WYNN JUL 21 2017 133.0 Puts @ .10 (sold for 3.25)
Sold WYNN JUL 28 2017 133.0 Put @ 3.30
Sold WYNN JUL 28 2017 134.0 Put @ 3.81
Sold WYNN JUL 28 2017 135.0 Put @ 4.29
Selling aggressively against Dec 120 ITM calls. Been in this thing for a year now and love it. Good premium and easy to roll.
UVXY
#VXXGame #BearCallSpreads #IRA – Added a few…
Sold UVXY JAN 18 2019 10.0/25.0 Bear Call Spreads @ 5.34
URI
#Earnings #ShortStrangles #BullPutSpreads – Closed this the day of the announcement whenever that was…
Bought to Close URI JUL 21 2017 114.0/128.0 Strangle @ .45 (sold for 2.45)
Bought to Close URI JUL 21 2017 120.0/115.0 Bull Put Spread @ .33 (sold for 2.25)
REGN
#ShortPuts – Fat finger yesterday from phone while waiting on a gate. Lesson learned…air traffic controllers are a distraction to trading! 🙂 🙂
Bought to Close REGN JUL 28 2017 475.0 Put @ .66 (sold for 3.10)
CMG
#ShortCalls – I’m going to be selling calls against a DITM put for a long time. Glad I stayed small!
Bought to Close CMG JUL 21 2017 410.0 Calls @ .05 (sold for 2.80)
Sold CMG JUL 28 2017 380.0 Call @ 7.00
***A lot of these trades were from earlier in the week at various times..
GLD
#PerpetualRollingStrangles – Another roll going out a month this time…
Rolled GLD JUL 21 2017 121.0 Puts to AUG 18 2017 121.0 Puts @ .31 credit
AAOI
#BullPutSpreads – This got profitable so quickly I feel like I’ve gotta take some off. Missed my best chance yesterday on the spike up but I’ll take it.
Bought to Close AAOI JUL 28 2017 90.0/80.0 Bull Put Spreads @ 3.25 (sold for 6.25)
#OffTopic -Barely getting online through phone tethering but hanging in there. Plug and outlet on motorhome melted (no fire thankfully) and plug is getting repaired today. Crazy night up at 2am changing out the cord…LOL Just another day in paradise! I’ll be catching up on my postings at some point…
URI
#Earnings – Two trades in one playing it slightly to the bullish side…something different for fun since I couldn’t decide which one to do. LOL
Sold 1 URI JUL 21 2017 120.0/115.0 Bull Put Spread @ 2.25
And outside that Sold 1 URI JUL 21 2017 114.0/128.0 Strangle @ 2.45
SVXY
#LongCallDiagonals – Rolling front month short call out and up a little…
Rolled SVXY JUL 21 2017 83.75 Calls to AUG 4 2017 85.0 Calls @ .15 credit
URI
SVXY
#VXXGame – Think I’ll let the last of my stock get called away this week. I’ll try selling the covered position if I can get a similar price to save the exercise fees too. Would like to replace it so going this route to limit downside if we implode but still get a great return if it continues up.
Sold SVXY JUL 28 2017 95.0/90.0 Bull put spreads @ 3.26
UVXY
#TakeOneForTheTeam #VXXGame – Let’s see how this goes….staying small enough to widen or add if a roll is needed. Also to partly hedge the short SVXY calls out in Jan.
Sold UVXY SEP 15 2017 35.0/40.0 Bear call spreads @ .81
UVXY and TDA interesting situation today…
Yesterday sold this:
Sold UVXY Jan 18 2019 5.0/15.0 Bear call spreads @ 5.04
Email this morning saying I was assigned on 2 of the short 5 strike calls but…no short shares in the account and short calls are missing. Said he had a long list of accounts with the same issue. I’ll take the short position if they can make it work. Can cover the stock and re-sell the calls for a better gain than if nothing happened (as long as UVXY stays lower today). Waiting to hear the verdict from the guys researching the issue.
Options Bistro 