Taking a small shot on a less than expected move…
Sold Jan 20th 76/79/82 iron flies @ 2.45 risk 55 to make 245 on an expected move of 3.95
Plans to manage:
1. Close for nice winner 🙂
2. Take stock or roll if she tanks
3. Sell higher puts to bring in around .55 if she screams higher.
Same as last week….copy and paste and change a couple numbers:
#CoveredCalls – Gradually working these up hoping they will eventually expire before earnings so I can then sell some nice juicy ones. 1 more roll after this one for Feb 9th earnings…
Rolled this week’s 90 calls to next week’s 91’s @ .25 credit
#BullPutSpreads – Selling just slightly ITM. If the 50ma doesn’t hold, and no matter how far it drops, I’ll be able to get in just 2.55 below the current stock price. If she bounces, it’s a nice winner. How can this go wrong with 4 former GS guys in the Trump cabinet…LOL
Sold GS FEB 17 2017 235.0/230.0 Bull put spreads @ 2.45
#Earnings – Earnings season off to a really nice start…
Bought to Close GS Jan 20th 225/235/245 iron butterflies @ 3.38 (sold for 6.10)
#Earnings – I don’t even have a NFLX account but I may open one after today…LOL
Opening dip allowed me to close the iron fly at close to even in spite of a move well outside of the fly…(even though it’s getting better as I type).
Bought to Close 124/132/140 iron butterfly @ 7.00 (sold for 6.80)
And:
Bought to Close NFLX JAN 20 2017 125.0 Puts @ .04 (sold for 3.33)
#LongCallDiagonals – With earnings moved back a week I’m rolling out but not up. I’ll make the big roll up the following week. Going for premium this time…
Rolled this week’s 772.5 call to next week 772.5 @ 2.70 credit.
Signed up for the one month trial for 7 bucks….mainly to watch how JC plays earnings. He’s supposed to be setting up something in NFLX today.
#LongCallDiagonals – Rolling out and up…
Rolled this week’s GOOGL 802.5 call to Jan 27 815.0 @ 1.50 credit
TOS shows Feb 9th but IV seems to be predicting the week after that. Anyone showing something different? If it’s the week after I’d like to sneak one more strangle in…
#PerpetualRollingStrangles – A couple minor adjustments…still selling against March DITM puts.
Rolled this week’s 119.0 calls out to Feb 3rd 119.5 @ even
Sold TLT FEB 3 2017 123.0 Calls @ .74
Playing it bullish but will get in at the 50ma if she tanks. May add a long put on a rally to set up a spread. Still debating about selling the call side…
Sold NFLX JAN 20 2017 125.0 Puts @ 3.33
Jumping back in selling the week before earnings…
Sold NVDA FEB 10 2017 95.0/115.0 Strangles @ 1.60
Going wider than normal since I don’t really mind managing this one either way…
Sold GS Jan 20th 225/235/245 iron flies @ 6.10
#CoveredCalls #IRA – Been selling these for months trying to get back to even…finally getting close. Rolling into earnings week for nice credit.
Rolled this week’s 13.0 calls to Feb 3rd 13.0 calls @ .61 credit
#ShortPuts #IRA – Taking a little more risk off for nice profits…
Bought to Close NVDA FEB 3 2017 90.0 Puts @ .29 (sold for 1.70)
#ShortStrangles – Out all morning but did get a fill…
Bought to Close NVDA FEB 3 2017 85.0/125.0 Strangles @ .16 (sold for 1.56)
Looks like I’ll be moving the IRA’s and then when they roll out futures and portfolio margin I’ll be moving the rest if all goes well. These seem like canned responses so I’ll give them one more chance by contacting our original guy we dealt with and using combined leverage of my brother and me and see what they say…LOL
===================================================================================
Mr. Wyant:
Thank you for contacting us today. We appreciate you giving us the opportunity to continue doing business with you.
We can certainly review your account to see if we can get you a lower rate; however, please understand that TD Ameritrade does stand by the value of our pricing since we do offer a lot more products and services that other discount brokerage firms do not.
We offer multiple different platforms and mobile apps that are consistently ranked higher than our competitors by third parties such as stockbrokers.com. We are consistently ranked higher in customer service, education offerings, and research tools as well as a variety of other categories. We also do not have some of the hidden charges that our competitors have such as charging extra for shorting shares, fees for canceling and replacing orders, among others.
In order to help with getting you the lowest rate possible, please reply to this message with the following information:
1. Do you plan on consolidating any accounts with TD Ameritrade, making any large deposits or any large withdraws? If so, approximately how much value do you plan on depositing or withdrawing?
2. Do you plan on changing your trading activity in the future? If you are changing your trading strategy, how many stock and/or option trades do plan on trading in an average month?
3. Do you plan on trading any index options? How many contracts per trade for your options trades on average?
Please respond with this information so we can better evaluate your situation. The more information we can collect, the bigger the case we can build in order for management to consider honoring your request.
If there is anything else I can do for you, please reply to this e-mail. Your business is appreciated and I want to make sure I address all of your questions and concerns.
Sincerely,
Rachael Peacock
TD Ameritrade Client Services
TD Ameritrade, Inc.
=====================================================================================
In response to the 3 questions in the previous email:
1. No immediate deposits but if I’m still here in 3 years when I retire I will be depositing at least another $xxx,xxx. Obviously, if I have to continue paying twice as much as the competition for similar services I will be withdrawing 100 percent (approx. $xxx,xxx) of my 3 accounts within 2 months.
2. Only plans for a change in trading activity would be a slight increase but still mostly 1-5 contracts per trade scaling in and out of positions.
3. Rarely if ever trade any index options.
Thank You,
Scott Wyant
========================================================================================
On 01/16/17 10:45 AM Message Center Client Services wrote:
Scott Wyant,
Thank you for contacting us again in regards to your commissions. What is the competition offering you to move your account? If you could let us know this information as well we can look into what we can do for you.
If you have any further questions please do not hesitate to contact us at 800-669-3900 or reply to this e-mail. We are available 24 hours a day 7 days a week.
Thank you for contacting TD Ameritrade.
Jacob Skelly
Client Services
TD Ameritrade, Inc.
=======================================================================================
Options: 1.00 per contract to open (all closing trades are free) + .10 clearing
Stocks: 5.00 unlimited shares to open (all closing trades are free) + .0008 per share clearing
Futures: 2.50 per contract to open (all closing trades are free) + .30 clearing
No ticket fees at all…$5 exercise fees
https://tastyworks.com/commissions-and-fees.html
Thanks!
=======================================================================================
Scott Wyant,
Thank you again for contacting us in regards to your commissions. At this time you are on a negotiated commission and at this time we would not be able to offer you what the competition is offering you.
If you have any further questions please do not hesitate to contact us at 800-669-3900 or reply to this e-mail. We are available 24 hours a day 7 days a week.
Thank you for contacting TD Ameritrade.
Jacob Skelly
Client Services
TD Ameritrade, Inc..
========================================================================================
Thank you for checking. I’ve enjoyed my time here at TDA….
Scott Wyant
#CoveredCalls – Gradually working these up hoping they will eventually expire before earnings so I can then sell some nice juicy ones. 2 more rolls after this one for Feb 9th earnings…
Rolled this week’s 89.5 calls to next week’s 90’s @ .34 credit
Took the SMM one month free trial and now in my second month. When did it become such a day trading forum? Not getting much out of it so probably bailing out after this month…
Top Gun Options is kinda pricey and I think I’ve seen all of Whiz’s types of trades. Sort of the same stuff over and over. He makes good money but I think by watching his freebie update each day I can pick up on what he’s doing. I’ll bail on it also or possibly cut back to just a partial subscription with just one of his portfolios.
#ShortPuts #IRA – I’m feeling a little heavy in this ticker so taking one off that wasn’t looking too good just a couple days ago.
Bought to close REGN Jan 20th 350.0 Put @ 1.35 (sold for 5.70)
All tiny starter positions in the #IRA. Hoping for a chance to add on some spikes…
Sold UVXY MAR 17 2017 30.0/35.0 Bear call spreads @ 1.22
Sold UVXY JUN 16 2017 30.0/40.0 Bear call spreads @ 1.92
Sold UVXY JAN 19 2018 30.0/40.0 Bear call spreads @ 1.75
Sold UVXY JAN 19 2018 25.0/40.0 Bear call spreads @ 2.70
Thought I would pass this along to former members….
============================================================================
Hello Team –
We are not going to be able to do any videos today. It is with great sadness that I inform you that Dan’s and my brother, Mike, passed away today. He was killed in a automobile accident. We need to be together and get up to be with his children.
We apologize for the inconvenience but know that you certainly understand.
Gary and Dan
#ShortStrangles – Earnings now not until Feb 9th so trying to sneak in one more before then…
Sold REGN FEB 3 2017 325.0/400.0 Strangle @ 4.85
#ShortPuts – Rolling these out to earnings week to take advantage of higher IV that week.
Rolled next week’s 32.50 puts to Feb 3rd @ .65 credit
#BullPutSpreads – I’ll take a shot…been wanting to get long another bank as a possible long term covered call position so going aggressive. Whiz is still bullish on the banks out over the next year or two so I guess I’ll take a small position.
Sold JPM JAN 13 2017 90.0/85.0 Bull put spreads @ 3.20
Worse case scenario is I end up with stock about 1.80 below where it’s trading. If we open up down 20 tomorrow I’ll book the long put profit and take the stock with the short put. Big blowout to the upside and it’s a quick winner.
This is exactly the dip in SPX and mini-spike in the VIX I was looking for this week. It took a while to come but it is finally here and it may not last a long time. The reason for the VIX spikey is that the only volatility event this week is JP Morgan’s earnings which kick off the earnings season. JPM will report before the market opens tomorrow. As is customary before volatility events, the VIX tends to rise for a couple of days along with the VVIX as traders hedge for the unforeseen and then as soon as uncertainty is removed from the market (we know what JPM’s earnings are and the market reacts rationally) then the VIX drops as traders remove the hedges once the unforeseen does not happen.
For the SPX, after we get the JPM earnings tomorrow, that event is finally going to give Financials a green light to go higher and that is going to carry the market over 2280 and the DOW to over 20,000 finally. Obviously, I don’t know what JPM earnings are going to be, but all I know it is a solid company, they are the best in class enterprise these days, so it is going to show a solid beat, a rising net interest margin and the CEO Jamie Dimon who has been very upbeat on the economy, will again be upbeat on the economy. He may even say nice things about the Trump administration. This has been the script over the past few quarters, so I don’t foresee anything deviating from that script tomorrow. Once all of this information comes in, Financials are going to start another leg higher as they have been grinding in place for over a month now. Obviously, upgraded earnings prospects for 2018 at JPM, BOFA, WF will have a lot to do with the upward repricing of the financial stocks. Just the availability of earnings information for 2018 will propel prices higher as the forward estimates are likely to be higher. And then the market will follow. We could even have a bounce in the 10-Year yield higher as the market discovers a healthy economy and a higher demand for loans at higher interest rates from the financial statements of the banks. The 10-Year yield is testing the 50MA so this is a natural place and time for a bounce higher. And a bounce higher in the 10-Year yield will trigger some of the correlation algos to buy the financials and propel them higher as well. With about 15-20% of the earnings reported after this week, there is going to be more certainty about the SPX earnings estimates and if they come in as good as I think they will, the market has only one place to go: bounce off that trend line it is sitting on now and then head higher.
On the upside resistance is at 2280 for the SPX and on the downside the 30MA at 2250 is the next support level today.
#VXXGame – Clearing out some trash in anticipation of the new UVXY options becoming available tomorrow or early next week.
Bought to Close VXX MAR 17 2017 30.0/40.0 Bear call spreads @ .56 (sold for 1.20)
#ShortStrangles – Selling the week before earnings…
Sold CMG JAN 27 2017 390.0/430.0 Strangle @ 4.60
#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
