#ShortPuts #IRA #tastyworks – Clearing out for the tastyworks move…
Bought to Close SVXY JAN 20 2017 100.0 Put @ 1.21 (sold for 6.10)
Bought to Close SVXY JAN 20 2017 80.0 Put @ .15 (sold for 2.30)
Bought to Close SVXY FEB 17 2017 70.0 Put @ .86 (sold for 2.50)
Bought to Close SVXY MAR 17 2017 60.0 Put @ 1.15 (sold for 2.30)
Got the invitation yesterday and first account set up and ready to fund. I’ll be clearing out my smallest #IRA (all SVXY short puts) and moving it over to try them out. …unless TDA matches. Waiting for a response…
#BullPutSpreads – Just in case “The Donald” does something unexpected as far as health care goes I’m taking this one off. Fairly decent size position that’s worked quickly, I’ll book it for nearly 70 percent of max profit.
Bought to Close THC FEB 17 2017 16.0/13.0 Bull put spreads @ .45 (sold ITM for 1.36)
Rolled this week’s 770 call to next week’s 772.5 @ even. Like GOOGL, earnings the following week.
Missed the little dip this morning….but still rolling another week. Should be able to roll this position up 20-25 points the following week into earnings.
Rolled this week’s 802.5 call to next week 802.5 @ 1.36 credit. Still selling against 2019 long call/bull put spreads.
#ShortPuts #IRA – Throwing a couple out there…
Sold IBB MAR 17 2017 250.0 Put @ 3.75
Sold IBB JUN 16 2017 225.0 Put @ 4.00
Surprised on the fill but the spreads are wide with no liquidity. Mid was .65 and I started at .20 and walked it up a nickel at a time. I’ll take .35! Still holding the following week’s bonus spread, then looking forward to earnings after that…
Bought to Close REGN JAN 20 2017 325.0/425.0 Strangle @ .35 (sold for 5.29)
Replacing covered call position from last week with a new starter strangle…
Sold IBB FEB 17 2017 260.0/300.0 Strangle @ 5.25
Airline stocks not reacting much yet.
http://www.nbcnews.com/news/us-news/gunman-opens-fire-fort-lauderdale-airport-killing-1-n704001
Earlier this week sold a Feb 3rd 335/412.5 strangle thinking that was the week before earnings. Looking a little closer, they seem to always announce late in the week during the first week of the month. Since that might be earnings I’m closing it for a .15 loss and replacing it with the week prior.
Sold REGN JAN 27 2017 322.5/395 Strangle @ 5.40 (5.25 with the loss on the “roll”)
Stock covered by 270 calls this week…still debating. Maybe roll or let it go and hope for a pullback? Basis at 262.62…
#PerpetualRollingStrangles #CoveredCalls – Rolled 88.5 calls out out to next week’s 89.5 @ even.
#PerpetualRollingStrangles – Rolling back over now so selling the rest of the short call position.
Sold TLT JAN 20 2017 123.0 Calls @ .60
#ShortCalls #LEAPS – Rolling out but not up…sliding these short calls out along the 20ma. Planning on collecting max premium next 2 weeks then rolling way up into earnings if still ITM. Sold against a long Leap call.
Rolled 770.0 call out to next week 770.0 @ 3.26 credit.
#ShortCalls #LEAPS – Rolling out but not up. Planning on collecting max premium next 2 weeks then rolling way up into earnings if still ITM. Sold against a long Leap call.
Rolled 802.50 call out to next week 802.50 @ 2.25 credit.
#Earnings – Not liking the way this is acting. Dan made a comment that he was in a RH store the other night and it was dead and the employees looked bored…LOL Since this is from an old earnings trade and not a long term position I’m interested in, I’m unloading the stock and letting the remaining short calls expire. Net loss of 90 cents per share on a small position. If this 30 level doesn’t hold, the mid 20’s could be in play.
$ShortPuts #IRA – Nice bounce so thinning out some more. Decks are cleared for earnings on Feb 2nd.
Bought to Close CMG MAR 17 2017 275.0 Put @ .83 (sold for 4.10)
#CoveredCalls – Just keep selling these at breakeven strikes. Would love to be done with it soon so I can get ready for earnings season. Was assigned from an earnings play at 35.05. Basis now reduced to 31.50.
Sold RH JAN 13 2017 31.5 Calls @ .54
This was a stand alone trade playing the bounce. Not part of the long term position…
Bought to Close TLT JAN 20 2017 116.5 Puts @ .13 (sold for 1.11)
Update on one of my many TT style managed strangle positions. Basically, starts out as a wide strangle and is managed with credit rolls as the stock moves and held forever or until a perfect exit presents itself. I look at it like a dividend position that pays weekly. This has been a great test of this strategy in a worse case scenario of a massive sell off just after the position was started.
Long story short, right after selling the original strangle gold began imploding so I continued selling weekly calls all the way down after rolling the puts out about 3 months and leaving them at the same strike (nice credit). The entire time position size was about half until I could get more comfortable with the style.
Now, with GLD rebounding my short calls are finally ITM so here’s the adjustment. I’m getting a little bullish at least up to the 50ma resistance.
Rolled part of this week’s 109 calls to Feb monthly 119 puts @ 3.20 credit adding to original puts to get a full position.
Then, paired off with that, rolled remaining 109 calls to Feb monthly 113 calls at 1 for 5 ratio for 6.60 net credit.
So now, in a Feb monthly 119/113 inverted strangle full (but still small) position. If GLD starts rolling over again I’ll continue rolling down short calls slightly for a credit and roll the puts out again a few months. The cool thing about this is so far the trade has only been using about 3500 in margin (slightly more now with a full position) and has brought in a grand total of 37 points in premium in just a few months. That’s a decent dividend! The key to these types of positions for me is to forget about the P/L on the original position and accept the fact that it’s a long, long term play and try to collect as much premium as you can all the time. If it’s a ticker that’s not going to zero and uses little margin then sell, baby, sell!
Just an update for anyone interested…I think someone had told me to keep them updated so there it is.
When the market is like this and I’m making some decent cash, why do I focus on what I screwed up on? Thinking I should’ve done better…I gotta quit that!
#ShortPuts – This thing could go anywhere so managing another one aggressively in the #IRA ….
Bought to Close REGN Jan 20 2017 320.0 Put @ .60 (sold for 5.00)
Still holding a few others…short puts and strangles.
Nice little pop there….see if she holds!
#ShortPuts #IRA – This thing has been under fire for awhile. Booking it on this morning’s bounce. Could easily be down 20 tomorrow. Freeing up a nice chunk of change as well…
Bought to Close CMG Jan 06 2017 370.0 Put @ 1.05 (sold for 4.80)
Still short a March 275.0 so will probably book it on any weakness…
#ShortStrangles – My 325/425 Jan 20 strangle is about 60 percent profitable so I’ll be watching it closely to make sure I don’t give much back. In the meantime, trying to sneak in another one right before earnings…It’s the highest available call strike (I’d rather have slightly higher) so taking a fairly aggressive put position. I’m only doing this because the Jan position hasn’t been in trouble and I’m able to keep a tight leash on it.
Sold REGN FEB 3 2017 335.0/412.5 Strangle @ 8.50
#ShortPuts #IRA -Selling these in the IRA after closing the EWZ position. Putting the margin back to work…
Sold NVDA FEB 3 2017 90.0 Puts @ 1.70
#ShortPuts #IRA – Nice bounce in Brazil today…taking these off a few weeks early.
Bought to Close EWZ Jan 20 2017 30.0 Puts @ .11 (sold for .98)
#ShortStrangles – This should be the week before earnings so I’ll have some high IV the following week if I need to roll at all…
Sold NVDA FEB 3 2017 85.0/125.0 Strangles @ 1.56
#ShortStrangles – Looking to get some theta cranked up and made out pretty good with this ticker last time. Playing it slightly bearish with all the Mexico drama…
Sold EWW FEB 17 2017 39.0/45.0 Strangles @ 1.26
Options:
1.00 per contract to open (plus .10 clearing fee)
Futures:
2.50 per contract (plus .30 clearing fee)
Stocks:
5.00 unlimited shares (plus .0008 per share clearing fee)
And here’s the game changer since I rarely let something go until expiration:
0.00 to close ANY POSITION (plus clearing fee)
Overall probably a better deal than my 1.25 per contract at TDA…they do seem like they’re wanting to shake things up. No negotiations on these rates either. Everyone there gets the same…
#ShortPuts – Last ones of the year…
Sold SVXY FEB 17 2017 70.0 Put @ 2.50
Sold SVXY MAR 17 2017 60.0 Put @ 2.30
Just for fun I’m adding a long term position similar to my positions on AMZN and GOOGL. Buying a 2019 call and selling 2 bull put spreads underneath it to reduce the initial cost. Then, selling weekly calls against the position. This type of trade is allowed in the #IRA. Based on my initial cost I’ll only need to sell an average of 27 dollars per week in premium to get that back. If we get a big pullback I’ll add “big league”…LOL
Bought to Open SVXY JAN 18 2019 (1) 70.0 Call and sold (2) 50.0/30.0 Bull Put Spreads @ 28.50 net
Then:
Sold SVXY JAN 13 2017 95.0 Call @ 2.25
Had a small position in UHC that did pretty good. Looking for some cheaper heath care now. Old high school buddy is a big shot with these guys up in Chicago** (I’m in the wrong business!) so I’ll give it a shot.
Sold THC FEB 17 2017 16.0/13.0 Bull put spreads @ 1.35
Worse case scenario I get the stock at 1.65 above wherever it happens to be trading at expiration.
** I have no insider info at all.
Looks like taking one for the team is working so far….gonna roll ‘er and give it some more time.
Rolled this week’s 100 put out to Jan monthly 100 put @ 2.00 credit. Total credit now 6.10 so slightly underwater so far.
#CoveredCalls – Another week gone by…
Bought to Close AMZN DEC 30 2016 775.0 Call @ .08 (sold for 4.10)
Sold AMZN JAN 6 2017 770.0 Call @ 4.53
#CoveredCalls – Replacing this week’s expiration…
Sold IBB JAN 6 2017 270.0 Call @ 1.80
Whew…busy week at work and still going. On the bright side it’s all downhill from here! Vail to Miami today…that’s downhill…LOL
Did manage to unload a marginal position that I’m not really interested in. Starting to look weak and I’ve got plenty of biotech exposure elsewhere…
Bought to Close MNK Jan 20 2017 45.0 Puts @ 1.25 (sold for 1.70)
#ShortCalls – This week’s looking fairly safe (in spite of that little spike about 60 seconds after I was filled…grrr) so selling next week’s against short puts.
Sold TLT JAN 6 2017 118.0 Calls @ .69
Sold TLT JAN 6 2017 118.5 Calls @ .52
#ShortPuts -Turning this into a full position now. Still continuing to sell the weeklies against at about a 1.5 ratio. These puts will really reduce my basis in the DITM Feb short puts.
Sold GLD FEB 17 2017 105.0 Puts @ 1.20
#ShortCalls – Just a little roll up while she goes sideways along the 50ma. Sold against a LEAP long call / put spread position.
Rolled GOOGL DEC 30 2016 800.0 Call to JAN 6 2017 802.5 Call @ .90 credit
#Eminis – I’ll be short an Emini after Friday. Already been selling puts against it to raise the basis. Since I don’t really have a lot to hedge it’s becoming more of a stand alone position. Rolling up a short put for nice credit while still leaving some downside protection.
Rolled /ES FEB 17 (Wk3) 2100 PUT up to 2200 @ 11.50 credit.
Basis in the Emini will now be 2230.
#CoveredCalls – Getting a jump on next week for lack of anything better to do…
Sold RH JAN 6 2017 32.0 Calls @ .50
http://seekingalpha.com/news/3232314-proshares-announces-splits-reverse-splits-13-levered-etfs?uprof=44&utoken=490e5ae65ccda0b61ca0c778144f4dd1#email_link
Looks like every little bounce gets sold so with the 50 and 100 moving averages lurking overhead I’ve decided on an aggressive sale for the 4 day trading week next week.
Sold AMZN DEC 30 2016 775.0 Call @ 4.10
Dr. J mentioned some unusual call buying today so I’m adding some long deltas. Sitting at one third position so this will be another third until we see what happens next. If nothing else it will dramatically lower my cost basis on the DITM puts…
Sold TLT JAN 20 2017 116.5 Puts @ 1.11
Going out 2 weeks for a little more room and premium…
Sold GLD JAN 6 2017 109.0 Calls @ .60
#ShortCalls – Reducing risk on an over sell against DITM puts…
Bought to Close TLT DEC 23 2016 119.0 Calls @ .02 (sold for .70)
Can’t double up on these in an #IRA so closing on weakness and hoping for a bounce to sell next week. Gotta be careful here…starting to squeeze and Christmas delivery news could come at any time. Considering going out 2 weeks next time for more upside room.
Bought to Close AMZN DEC 23 2016 782.5 Call @ .13 (sold for 4.00)
#ShortPuts #IRA -Taking some more risk off betting on a chance to re-sell these at some point…
Bought to Close SVXY MAR 17 2017 40.0 Put @ .50 (sold for 2.80)
Bought to Close SVXY MAR 17 2017 45.0 Put @ .75 (sold for 4.00)
#CoveredCalls – Was assigned early on some short puts so my long time WYNN rolling strangles are now covered calls. An example of how weekly premium really accumulates….I was assigned at 107 but with all the premium I’ve collected the actual basis of the stock is 84.50
Rolling the call side up and out now and trading as a regular covered call position…
Bought to Close WYNN DEC 23 2016 86.0 Calls @ 2.82
Sold to Open WYNN JAN 6 2017 88.5 Calls @ 2.95
Picking up another 2.5 points of upside while collecting .13 credit.
Getting a jump on next week replacing this week’s expiration:
#CoveredCalls – Sold IBB DEC 30 2016 270.0 Call @ 1.80
I’ll be out all day tomorrow so to avoid assignment risk:
#ShortPuts – Bought to Close AAPL DEC 23 2016 116.0 Puts @ .38 (sold for 2.60)
#ShortPuts This should get volatilty back into the market… Lol
Sold SVXY Dec 30 2016 100 Put @ 4.10
#ShortPuts – Bought to Close SVXY DEC 23 2016 85.0 Put @ .05 (sold for 2.27)
#ShortCalls – Still selling short calls on the drop. Gotta find a bottom somewhere…maybe
Sold DEC 30 2016 118.5 Calls @ .52
Currently short this week’s 116/108 inverted strangles. I’ve been rolling the puts up for awhile now for additional credit on what started out as a regular strangle. The puts are less of a concern than the calls so doing a fairly aggressive roll on the calls only.
Rolling just the 108 calls out to Jan monthly 121/114 inverted strangles at .05 credit. I’ll keep an eye on the original 116 puts for this week. Keeping them on a tight leash since they’re nicely green.
#CoveredCalls #IRA – Doing a conservative roll until we see how the transition of power goes. If all is well I’ll then look out to May or June for a big roll up. Until then, leaving plenty of downside room without hurting profits at all.
Rolled SVXY Dec 30th 74.5 calls out to Jan 20th 75.0 @ .90 credit.
Picking up another 1.40 of upside for about an extra 3 weeks of holding.
#IRA – Another starter position that I never got a chance to add to…
Bought to Close UVXY JAN 20 2017 25.0/35.0 Bear call spreads @ .06 (sold for 1.00)
Bought to Close /VX FEB 17 @ 14.60 (sold for 15.00)
Picked up a quick .40. Works for me since these trade at a grand per point so not worth holding very long.
Getting out now…more crazy stuff going on in the world today. Makes this market complacency even more amazing. China steals our drone and now this:
#IRA – Starter position that I never got a chance to add to…
Bought to Close UVXY JAN 20 2017 30.0/40.0 Bear call spreads @ .04 (sold for 1.00)
#Futures – For a little scalp as the front month rolls off on Wednesday…
SOLD /VX FEB 17 @ 15.00 (filled near the open Sunday evening)
#Eminis – Thanks Fibwizard!
Bought to Close /ES DEC 16 (EOM) 2150/2010 Bull put spreads @ .75 (sold for 7.05)
And to help continue raising the basis on my short /ES hedge:
SOLD /ES FEB 17 (Wk3) 2100 PUT @ 10.50
Of course, they don’t take into account the covered call selling in SVXY but still interesting…
https://www.tastytrade.com/tt/shows/market-measures/episodes/vix-credit-spreads-vs-inverse-etfs-12-16-2016
Taking Iceman’s advice and putting it in the rearview mirror. Premium received and the selling of the mirror image put spread reduced loss to 7.45. Manageable but irritating. Spreads on these illiquid underlyings just don’t cut. There’s a lot better opportunities out there so concentrating on those. Still a great year in this particular account so…onward and upward!
#ShortStraddle – Split the sides up and filled with a 380.0 pin. Sweet!
After various rolls:
Bought to Close REGN DEC 16 2016 380.0 Put @ .50 (sold for 2.95)
Bought to Close REGN DEC 16 2016 380.0 Call @ .45 (sold for 3.00)
#ShortStrangles – A new one for January…
Sold REGN JAN 20 2017 325.0 Put @ 2.27
Sold REGN JAN 20 2017 425.0 Call @ 3.02
Last position I’ve gotta watch today. After a couple rolls ended up with a 380 straddle today. LOL…maybe a pin?
#ShortPuts #FallingKnife – These are out to January so freeing up margin in an #IRA instead of waiting another month.
Bought to Close CVS JAN 20 2017 70.0 Puts @ .19 (sold for 1.45)
#ShortPuts – After a couple pretty aggressive roll-ups I’m booking them. May re-sell if we get a little rollover
Bought to Close GS DEC 23 2016 225.0 Puts @ .25 (sold for 4.05)
Still short 2018 130/100 bull put spreads. Plan on holding them for quite awhile unless things get really ugly.
#Eminis – Taking a little risk off…
Bought to close /ES DEC 16 (EOM) 2170 PUT @ 2.45 (sold for 9.25)
#CoveredCalls – Acquired this stock from an earnings trade. Selling next round replacing today’s expiration.
Sold RH DEC 30 2016 33.0 Calls @ .75
Rolled Dec monthly 32.5 puts out to Jan monthly @ .75 credit.
Total premium received now 2.00 and also short Apr 27.5’s
#ShortCalls #IRA -Thought I had the closing order in for a nickel….but nooooo! Oh well…sell ’em again.
Bought to Close AMZN DEC 16 2016 780.0 Call @ .42 (sold for 4.10)
Sold AMZN DEC 23 2016 782.5 Call @ 4.00
#CoveredCalls – Bought to Close IBB DEC 16 2016 280.0 Call @ .05 (sold for 2.30)
Closing this now commission free as safety since I’d already sold next week’s…
I’ve got this pairs trade (short /ES against short /VX) established now with single positions as an experiment. I’ve been in the short /ES call awhile and selling puts against it to raise basis. Just before the FED meeting I added the short /VX out in Feb. Didn’t use front month since it tends to react more violently to volatility spikes. Once Feb becomes front month I’ll probably roll it back out to a safer position…we’ll see. This should capture contango until we get a spike. Once this /VX gets slightly more profitable (up nicely already) I should be able to set a stop on it at breakeven.
So…assuming all my short /ES put positions expire and I get assigned the ITM call I’ll be sitting at:
Short /ES @ 2202.35 basis (slight loser but nice hedge)
Short Feb /VX @ 16.90 (assuming no spike this should gradually decay towards spot VIX at a grand per point)
and to further raise short /ES basis:
SOLD /ES JAN 17 (Wk3) 2180 PUT @ 10.25
Options Bistro 