#shortputs
$AKAM STO November 42.5 puts @1.66 Following @optioniceman and @jsd501
$NVDA STO 5/19 110/115 BUPS @ .63 Thank you @bcoleman6
Author Archives: geewhiz112
CBOE Seminar
What Are Dan Sheridan’s Two Favorite Strategies for IRAs?
Presenter:Dan Sheridan
Wednesday, May 10, 2017 at 3:30 pm CDT
Here is link
http://go.cboe.com/e/77532/arncenter-webcast-default-aspx/61ndrj/270388095
Earnings SPX Campaign Short Puts and Closed Early
#Earnings
$NVDA STO 5/12 95/115 strangle 2 1.95 Thank you @jeffcp66
$JAZZ STO 5/19 155/157.50/162.50/160 BUPS @ 2.40 Bought wrong date. See what happens. Thank you @jeffcp66
#spxcampaign
$SPX STO 6/9 2285/2310 BUPS @ 1.40 Following the leader
#shortputs
$SVXY STO 6/9 140 put @ 3.90 Thank you @jsd501
$MPLX STO 9/15 33 put @ 1.40 Thank you @tabortrader
#Closed Early
$SPX BTC 5/15 2440/2415 @1.40 38% profit Position too big. This is sale of half original
$NFLX STC 6/16 150 calls @8.56 BTO @ 6.40
$GS BTC 5/19 195/2015 BUPS @.05 for 91% profit
Expirations
Pretty Sure These Will Expire Worthless
#spxcampaign
$SPX 2225/2250 BUPS Hail to the @jeffcp66eff
$SPX 2170/2270 BUPS Thank you @fibwizard
$SPX 2300/2350 BUPS Hail to the @jeffcp66eff
$WYNN 105/110 BUPS
$NFLX 145/150 BUPS
#vxxgame
$UVXY 40 calls Thanks @honkhonk81
$SVXY 81 puts
$SVXY 90 puts
$FB 146 puts Thanks @jeffcp66 Earnings Trades
$STMP 90 puts Thanks @jeffcp66 Earnings Trades
Have a great weekend everyone.
Closed Another Early
#shortputs
$DB BTC 5/19/ 18 put @ .20. Sold 4/20 for 1.93
Closed Early
$AMZN BTC 5/5 930 put @.30. STO 4/28 for 7.10. Heeding words of wisdom from many and most recently from @hcgdavis.
Short Puts Spx Campaign and Earnings Trade Closed Early
#shortputs
$GS STO 6/16 215/220 BUPS @ 1.30 (OMM)
$AMD STO 6/16 10 put @ .57
#spxcampaign
Follow the Jefe Jeff
$SPX STO 5/15 2315/2340/2440/2415 Iron Condor @ 3.35 Thank you @jeffcp66 for the idea.
Close Early
#earnings
$CMI BTC 5/5 140/160 strangle @.30 STO @ 1.00 Thanks @jeffcp66
The fourth is with us and if things go poorly there is always a fifth.
Earnings and Closing $GOOGL trade
#earnings
$STMP STO 5/5 90 put @ 1.30
$FB STO 5/5 146 put @ .60 Thank you @jeffcp66
#longcalls
$GOOGL STC 5/19 850/860 BUCS @ 9.90 BTO @ 5.20
A Little of This, A Little of That
Expiration
#spxcampaign
$SPX 2415/2390 BECS Thank you Jeff
Closed Early
#shortputs
$GOOGL 5/19 825/635 BUPS @ .05 97% profit
#earnings
$CMI STO 5/5 140/160 strangle Thank you Jeff
#spxcampaign
$SPX 5/12 2440/2415 BECS @ 2.20
More Expirations
#spxcampaign
Expired
$SPX 4/28 2230/2255 BUPS Thank you @jeffcp66
$SPX 4/28 2175/2275 BUPS Thank you @fibwizard
Expired and Closed Early
#optionsexpiration #earnings
$EXPE 126/146 Strangle for earnings Thank you @jeffcp66
$PEP 112/115/118/115 IB Earnings Loss of $20 per contract
$SVXY 70 put
$SVXY 115 put
$UVXY 24.50 call
$UVXY 23 call
#spxcampaign
Closed Early
$SPX BTC 4/28 2405/2380 BECS @ 3.50 STO @ 3.60
Have a great weekend everyone. Weather warming up on the East Coast. Golf!
Trying To Unwind A Bad Trade
#shortcalls
$CMG BTC 4/28 425 call @ 53.06
$CMG STO 5/5 445 call @ 33.80
IF $CMG continues down next week I will try to close the 5/5 call. Stuff not liquid. I was going to close the 4/28 for the whole enchilada loss but there was no volume. I put this roll order in and was filled almost immediately. Makes me feel I did something bad. ;-{
#Closed Early #SPX Campaign #Short puts #Long Calls
Closed Early
#spxcampaign
$SPX 5/5 BTC 2455/2430 @.30 79% profit
#longcalls #earningstrade
$SRPT STC 4/28 35 Calls @ 3.00 BTO 4/26 @ 2.30
#shortputs
$AMZN STO 5/5 930 Put @ 7.10
$ULTA STO 5/19 270/275 BUPS @ 1.00 #earnings
#spxcampaign
$SPX STO 5/26 2275/2300 BUPS @ 1.45 Thank you @jeffcp66
#longcalls
$NFLX BTO 6/16 150 call 6.40 Expect stock to appreciate as result of $BIDU deal
#Earnings #Short Puts # Closed…
#Earnings #Short Puts # Closed Early # Expiration
#earnings
$EXPE 4/28 126/146 Strangle @ 1.06 Thank you @jeffcp66 Stock down to 134 after hours. So far so good.
$BIDU 5/19 165/170/205/200 IC @ 1.20 (OMM Trade) Stock down to 179.50 after hours. So far so good.
Trade
#shortputs
$AAL STO 5/12 42.50 put @ .49 Thank you @honkhonk81 via Bridget @ OMM
Closed Early
Half smart or more likely prudent
$GOOGL STC 5/19 850 call @ 30.80 Bought 4/18 for 22.30. Did keep a GOOGL long call through earnings. Is a YIPEE in order?
Expired
#spxcampaign
$SPX 4/26 2410/2385 BECS at a 55 cent per contract loss.
SPX Campaign Plus Close $SVXY Early
#spxcampaign
$SPX 5/5 2300/2350 BUPS @ 2.00
#vxxgame
$SVXY BTC 5/12 65 put @ .05 Sold 4/13 for .50
Earnings Gambling WYNN
#earnings
$WYNN STO 5/5 1o5/110 BUPS @ .60
SPX Campaign
$SPX STO 5/26 2465/2440 BECS @ 1.55 Thank you @jeffcp66
Closed early
$SPX BTC 5/5 2220/2245 @.15 89% profit
Expiration and Other Stuff
Good News
#optionsexpiration
$BABA 100/105 BUCS
$AMZN 780/805 BUPS
$AMZN 830/840 BUPS
$AMZN 865/875 BUPS
$AMZN 850/860 BUPS
$REGN 355/360 BUPS
$NFLX 120/130 BUPS
$GOOGL 800/820 BUPS
$LABU 44 calls
$SVXY 95 puts
$NKE 55 puts
$LULU 50 puts
Rolled a Few (No not that!)
$OCLR 10 put rolled to 5/19 @ additional .30
$SNAP 22 put rolled to 5/12 @ additional 1.20
NOT So Good News (Actually one is quite bad)
$GILD 70/72.50 BUPS Total Loss
$TSLA 310/300 BECS 400% loss based on initial cash taken in.
Earnings Trades
$IBM and $GS Butterflies B/E
$RENN 8/9 BUPS fun while it lasted
$EBAY 32.50 put assigned
Bad Trade
Assigned $KATE 23 put
Today’s Trades
#vxxgame
$SVXY 5/19 85 put @ 1.25. Thank you @jsd501
Thanks to everybody for sharing ideas and trading techniques.
Have a wonderful spring weekend.
SPX Campaign Earnings Iron Condor BUPS and Closing Early (aka potpourri)
#ironcondor
$FDX STO 5/19 175/180/200/195 Iron Condor @ 1.40 (Forexpro at OMM)
#spxcampaign
$SPX STO 4/26 2410/2385 BECS @ 1.90 Thank you @jeffcp66
#bups
$GOOGL STO 5/19 825/835 BUPS @ 2.40 (OMM)
$GS STO 5/19 195/205 BUPS @ .75 (SUZ @ OMM)
Closed Early
$NVDA BTC 4/21 95/105 BUPS @ 31% profit (probably should have waited)
$NFLX BTC 4/21 135 put @ .15 91% profit Earnings trade
$USCR BTC 4/21 55/60 BUPS @ 80% profit
SPX Campaign
#spxcampaign
$SPX STO 5/12 2135/2195 BUPS @ 2.00
Straddling $T Earnings Trade
$T BTO 4/28 40.50 straddle @ .95
Follow the Leader SPX Campaign and Reducing Risk on $AMZN
#spxcampaign
$SPX STO 5/12 2200/2225 BUPS @ 1.45
Closed Early
$AMZN BTC 4/19 930/920 BECS @ 82% profit
Have several $AMZN BUPS and BECS expiring 4/19 and feel better closing some early.
Rolling $FB Calls
$FB STC 4/21 130 calls @11.32 Booking some profit
$FB BTO 5/19 135 calls # 8.32 Looking for earnings run. Run $FB Run
Closed Early
$USCR BTC 4/21 55/60 BUPS @ 80% profit
Potpourri
#closed early
$SPX BTC 4/19 2280/2305 BUPS @ 93% profit Thank you @jeffcp66
$AMZN BTC 4/21 865/875 BUPS @ 92% profit (closed part of position – semi prudent)
$AMZN BTC 4/21 960/950 BECS @ 93% profit
$NFLX BTC 4/21 130/140 BUPS @ 89% profit
$SPX STO 5/1 2415/2390 BECS @ 1.65 Thank you @jeffcp66
$SPX STO 5/19 2165/2190 BUPS @ 1.50 Thank you @jeffcp66
$IBM STO 4/21 170/172.5/175/172.5 Iron Butterfly @ 2.05 Thank you @thomberg1201
$RENN STO 4/21 8/9 BUPS @ .95 Thank you @fuzzballl
$GOOGL BTO 5/19 850 calls @ 22.30
#off Topic # $SPX Changes…
#off Topic # $SPX Changes From CBOE
Conversion of SPXPM Options to Symbol SPXW
By Matt Moran
CBOE is planning to change the symbol for existing SPXPM option series to option symbol SPXW. The change is scheduled to be effective May 1, 2017. This conversion is designed to allow greater ease of access for those looking to place spreads from week to week. We have received some very positive feedback from institutional investors on this change to the symbol SPXW.
Here are key features that will apply beginning next month to the S&P 500® options expiring on the standard expiration dates (i.e., generally the third Friday of the month). The A.M.-settled options trading under root symbol SPX, and the P.M.-settled options trading under root symbol SPXW, will both be in the same underlying SPX options chain. The settlement symbol for the A.M.-settled SPX options is “SET”, while the settlement for the P.M.-settled SPXW options is based on the official SPX closing price on the expiration date.
For more details, visit www.cboe.com/SPXW.
AVERAGE DAILY VOLUME FOR S&P 500 OPTIONS TOPS 1.19 MILLION
As shown in the chart below, CBOE now offers S&P 500 options with expirations on Mondays, Wednesdays, Fridays, and month-ends, and the average daily volume for all the S&P 500 options was more than 1.19 million contracts in March 2017.
S&P 500 VOLATILITY SKEW CHART
The S&P 500 options volatility skew chart below (from www.livevol.com) provides estimates for implied volatility for S&P 500 options at different strike prices that expire on April 12, 13, 17 19, 21, 24, 26, 26, and on later dates.
CONCLUSION
SPXW options can provide opportunities for investors to implement more targeted buying, selling or spreading strategies. SPXW options may help investors efficiently take advantage of market events, such as earnings, government reports and Fed announcements. To learn more, please visit www.cboe.com/SPXW.
Early Closes SPX Campaign VXX Game
#Early Close
$SPX BTC 4/17 2415/2390 BECS @ 93% profit Thank you @jeffcp66
$SPX BTC 4/21 2445/2420 BECS @ 95% profit Thank you @jeffcp66
$ABX BTC 4/21 16/20 BUPS @ 71%
$REGN BTC 4/21 425/420 BECS @ 93% profit Thank you @thomberg1201
#spxcampaign
STO 4/28 2405/2380 BECS @ 3.60 Thank you @jeffcp66
#vxxgame
$SVXY STO 5/5 90 put @ 1.50
$SVXY STO 5/12 65 put @ 1.50 Thank you @optioniceman
$SVXY STO 4/28 115 put @ 1.50
$UVXY STO 5/5 40 call @ .75
Been gone all week with grandkids in Washington DC. Catching up.
Thanks to everyone.
Have a peaceful Easter weekend.
Expiration
#optionsexpiration
$AMZN 800/820 BUPS Thanks @prvtrader
$SPX 2240/2265 BUPS (double usual size) Thank you @jeffcp66
SPX Campaign
#spxcampaign
$SPX STO 5/5 2170/2270 BUPS @ 4.85 Thank you @fibwizard
SPX Campaign
#spxcampaign
$SPX STO 4/19 2280/2305 BUPS @ 1.80
Expired SPX Campaign Shorting Puts Longing Calls
#spxcampaign
$SPX 4/5 2325/2350 BUPS (No one took me up for the .10 order at end of day) Thank you @jeffcp66
Trades
#spxcampaign
$SPX STO 2445/2420 BECS @ 1.20
$SPX STO 2455/2430 BECS @ 1.55
Have too many $SPX BUPS spreads. Attempting to balance.
#shortputs
$SVXY STO 1/19/2018 75 put @ 6.30 Thank you @jsd501
#longcalls
$SWN BTO 5/19 8 calls @ .95
At The Close
$SPX BTC 4/7 2280/2305 BUPS @.20 STO on 3/27 for 5.70. 96% profit. Thank you @jeffcp66
SPX Campaign Long Calls Short Puts
#spxcampaign
$SPX STO 4/17 2415/2390 BECS @ 1.65
$SPX STO 5/5 2220/2245 BUPS @ 1.60
#longcalls
$TSLA BTO 4/7 300 call @3.50 (DrScience @OMM)
$BA BTO 4/28 185/187.50 BUCS @ .51 Thanks @prvtrader
#shortputs
$UVXY STO 4/28 23 calls @ .83 Thanks @honkhonk81
$NVDA STO 5/19 90 put @1.68 Thanks @ramie77
Expiration Closed Early and Some Trades
#spxcampaign
$SPX 2225/2250 BUPS 100% profit
$SPX 2260/2285 BUPS 100% profit
$SPX 2445/2420 BECS 100% profit
$SPX 2375/2350 BECS 174% loss
#shortputs$SVXY 95
$SXXY 86.5
$SVXY 100
$SVXY 115
$SVXY 99
Trades
#spxcampaign
$SPX STO 4/28 2175/2275 BUPS @ 3.80 Thank you @fibwizard
$SPX STO 5/5 2225/2250 BUPS @ 3.00 Thank you @jeffcp66
$SPX STO 4/28 2230/2255 BUPS @ 1.30 Thank you @jeffcp66
#shortputs
#SVXY STO 1/19/2018 75 put @6.03 Thank you @jsd501
$AMZN STO 865/875 BUPS @ 2.90
Sold Early
#spxcampaign
$SPX BTC 4/3 2290.2315 BUPS @ .10 STO 3/22 for 3.05
#longcalls
$BABA STC 5/19 105 call 8% profit
Thanks to everyone. Keep our chins up and our brains working.
Have a great weekend
SPX Campaign Closed Early
#spxcampaign
Closed Early
$SPX 3/31 2295/2320 BUPS @ .60 78% profit
SPX Campaign and A Moment of Learning (I hope it sticks)
#spxcampaign
$SPX STO 3/31 2375/2350 BECS @ 4.50
$SPX STO 4/7 2280/2305 BUPS @ 5.70
$SPX BTC 4/7 2455/2430 BECS @ .15 Sold for 1.65 on 3/10
And for another inspired educational moment for me:
Held to expiration
$SPX 3/27 2320/2345 BUPS for a 200% loss. Obviously it was worse earlier in week and day, but if only I HAD PLACED MARKET ORDER INSTEAD OF LIMIT there would have been a small gain. Sorry for yelling. There, I feel better.
Options Expiration
#optionsexpiration
$TMUS 57/60 BUPS Thank you @prvtrader
$TECK 20.5 put Thank you @jsd501
$T 41.5 call (Covered – stock called away)
Have a wonderful spring weekend. First of many.
Thanks to all. Nice place to spend a few mornings each week.
SVXY BUPS and Closing Early
#shortputs
$SVXY STO 5/1 81 put @ 1.25 Thank you @optioniceman
$SVXY STO 5/19 70 put @ 1.10 Thank you @jsd501
$USCR STO 4/21 55/60 BUPS @ 1.60 (“Hoping” CF leaving is innocuous and the “wall” is in)
#closed
$REGN BTC 3/24 370 put @ .70 STO for 3.61
#spxcampaign $SPX STO 4/3 2290/2315…
#spxcampaign
$SPX STO 4/3 2290/2315 BUPS @ 3.00 Thanks for idea @jeffcp66
SPX Campaign
#spxcampaign
$SPX STO 4/13 2200/2250 BUPS @ 2.20
SPX CampaignClosed Early
#spxcampaign
$SPX BTC 3/22 2420/2395 BECS @ .15 STO 3/17 for 1.50 90% profit
AMZN BUPS
#shortputs
$AMZN STO 4/21 830/840 BUPS @ 2.00 Thought $AMZN was breaking out. We’ll see.
Joining the Burrito Brigade
#shortstrangles
$CMG STO 4/13 375/420 Strangle for 3.00 (Yikes, is $CMG up 12 points today)
Expired
#spxcampaign
$SPX 2295/2320 BUPS
SPX Campaign Earnings ($NKE)
Away from the machines all day. These were triggered.
#spxcampaign
$SPX STO 3/27 2320/2345 BUPS @ 1.65
#shortputs #earnings
$NKE STO 4/21 55put @ .59
Happy Spring! Where is the floral wallpaper? ;-}
Expired Closed Early Lost it Alls and Assignments
$AMZN 740/750 BUPS
$SPX 2090/2190 BUPS
$SPX 2200/2235 BUPS
$SPX 2225/2250 BUPS
$SPX 2160/2260 BUPS
$RUT 1315/1335 BUPS
$CRM 81.50/82.50 BUPS
$AMZN 835/840 BUPS
$DKS 60/55 BECS
$DVN 50 Call (Covered Call – May Sell Again)
$CF 35 Call (Covered Call – May Sell Again)
$CELG 120 Call (Covered – Called Away)
$UVXY 25 Call
$AMZN 750 put
$GRMN 47.50 Put
$X 35.50 Put
$SVXY 85 Put
#assignment (Figure Out Over the Weekend What to Do With These)
$VSI 20 Put
$ETSY 12.50 Put
$IRM 37.50 Put
$BAC 25 Put
Closed Early
#LongCalls
$AMZN STC 3/17 840 calls @ 13.15 BTO for 19
$XLF STC 3/17 24 Calls @.50. BTO for .28
Lost All
#Long Calls
$KMX 70 Call
$CMCSA 37.50 call
Happy Saint Patrick’s Day to all our Leprechauns to keep them favoring us all year long.
Thanks to all.
#SPX STO 3/22 2420/2395 BECS @ 1.50
#shortputs Closed early $NVDA BTC…
#shortputs
Closed early
$NVDA BTC 3/17 100/105 BUPS @ 1.20 STO 2/14 for 1.40 It seems my holiday scheme did not work out as well as planned. However, the small (15%) profit sure beat the 150% loss I was looking at last week.
#shortputs Rolled $REGN
$REGN BTC 5/9 300 put and STO $REGN 3/14 360 put for additional .20 credit and hopefully closing six weeks earlier.
$AMZN STO 4/7 820/840 BUPS @ 1.30 Thank you @prvtrader for idea
SPX Campaign – Closed Early Trade on NFLX BUPS
#spxcampaign Closed early
$SPX BTC 3/20 2410/2385 BECS @4.00 Sold earlier on week for 4.05 (Being afraid sometimes works)
#shortputs
$NFLX STO 4/21 130/140 BUPS @ 2.80
#spxcampaign $SVXY STO 3/20 2410/2385…
#spxcampaign
$SVXY STO 3/20 2410/2385 BECS @ 4.05 (What timing!!)
#longcalls
$BAC BTO 5/19 37 calls @ .37
$NFLX BTO 5/19 140 calls @ 11.40 (OMM) Replaced the 3/17 long calls @ 140 and 145 that I hit my stop early yesterday (My timing is a little off)
$MA BTO 4/21 110 calls @ 3.20 (OMM)
#shortputs
$DB STO 4/21 18 puts @ 1.40 (Bridget at OMM)
$KATE STO 4/21 23 put @ 1.00
#longcalls STC
$FIZZ STC 3/17 70 calls @ 3.50 BTO on 3/10 for 1.38 (Once again that darn timing)
Have a nice evening
Have we crossed the Rubicon today?
Short Calls
#shortcalls
$UVXY STO 3/17 21 call @ .37 Thank you @honkhonk81
SPX Campaign
#spxcampaign
$SPX STO 4/13 2200/2300 BUPS @ 7.20 Thanks @fibwizard and good luck to us.
$SPX STO 4/13 2235/2360 BUPS @ 1.60 Thank you @jeffcp66
#earlyassignment
$IRM 37.50 put May look at selling calls or take the hit and play another day.
Expirations Closed Early One More Trade
#optionsexpiration
$SPX 2165/2190 BUPS
$SPX 2200/2225 BUPS
$ULTA 245/255 BUPS (Earnings Trade) Thank you @jeffcp66
$UVXY 30 calls
$UVXY 20 calls We made it @honkhonk81 Thank you
Closed Early
$GOOGL BTC 3/17 790/800 BUPS @ .05 97% profit
$MRVL STC 3/17 16 call @ .35 33% loss (Should have waited)
$ULTA STC 3/17 260 call @ 24.67 33% profit
One More Trade
$FIZZ BTO 3/17 call @ 1.38 (Speculative)
Thanks to everyone’
Have a terrific weekend and another profitable week next week.
SPX Campaign
$SPX STO 4/7 2455/2430 BECS @ 1.65 Following @jeffcp66 Thank you
SPX Trade Closed Early and Short Puts
#spxcampaign Closed Early
$SPX 3/31 2495/2470 BECS @ .10 93% profit
#shortputs
$AMZN STO 3/17 835/840 BUPS @ .60 Thank you @alsumde
$TMUS STO 3/24 57/60 BUPS @ .60 Thank you @prvtrader
#shortputs
#shortputs
$TEVA STO 5/18 32.50 put @1.65
$SVXY STO 3/31 86.50 put @ .41 Thank you @vxxkelly
Today’s Trades
#shortcalls
$UVXY STO 3/10 20 calls @ .52 Thank you @honkhonk81
$UVXY STO 3/17 25 calls @ .41 Thanks again @honkhonk81
#shortputs
$JCOM STO 4/21 80 put @ 2.00 Thank you @jsd501
Plucked a Trade From Goose
#shortcalls
$UVXY STO 3/17 25 calls @ .41 (goose trade @ OMM)
Out At The Open
#spxcampaign
$SPX BTC 3/10 2390/2365 BECS @ 10.45 @ open. STO 2/9 @ 1.45 Was 18 to close on March 1st.
Expiration Plus One Trade
#spxcampaign #shortcalls #shortputs
$SPX 3/3 2140/2165 BUPS
$SPX 3/3 2180/2205 BUPS
$UVXY 3/3 23 Calls
$SVXY 3/3 120 puts
$CBI 3/3 32 puts (Earnings trade)
One Trade
$CRM STO 3/17 81.50/82.50 BUPS
Thank you to all contributors. Have a nice weekend. Cold in NYC area and Global Winding
#ShortPuts
#shortputs
$SVXY STO 4/21 95 put @ 2.80
$SVXY STO 4/13 85 Put @ 1.30 Thank you @jsd501
Closed #SPXCampaign Early
#spxcampaign
$SPX BTC 3/24 2455/2430 BECS @ 3.50 STO 2/21 @ 1.75.
Still trying to get a better price to close $SPX 3/10 2390/2365 BECS
CBOE Educational Series
Thanks again to @jeffcp66.
The CBOE presentation he recently highlighted was good for me. Below are my quick notes taken during the talk. A lot of it is basic, but basic is my middle name. Tried to copy and paste the PDF of the slides. Did not work.
Notes on CBOE presentation on High Probability Trading
Credit Spreads
Rule of Thumb
Use delta to see probability of success in a trade. If delta is .31 then 31% chance of success. Less than fifty is high probability of success for selling options.
Don’t sell if there are earnings during the spread timeframe
Exposure of credit spreads
Delta Direction
Vega Volatility
Use 2 to 6 weeks duration for credit spreads
Out of money spreads. Shorter time frame has higher theta decay and better for profits. Longer the time more uncertainty.
Low VIX makes selling premium more difficult. Elevated volatility increase probability of success and higher payback.
Hard to find resistance in this market. Call credit spreads more difficult to find.
Collect at least 10% of the spread width.
Typical max profit target is 70%. Full Monty implies a poorer risk/reward vis a vis black swans.
#longcalls $LOW STC 3/17 80…
#longcalls
$LOW STC 3/17 80 call @2.15 BTO @ 1.00 on 2/15
Closing Early Free Up Some Margin
$SPX BTC 3/3 2110/2210 BUPS @ .05 97% profit Thanks again @fibwizard
SPX Campaign
#spxcampaign Thank you @jeffcp66
$SPX STO 3/31 2495/2470 BECS @ 1.40
$SPX STO 3/31 2295/2320 BUPS @ 2.80
#shortcalls
$UVXY STO 3/3 23 calls @ .25 Thank you @vxxkelly
Expiration
#spxcampaign (knock off version)
$RUT 2/28 1310/1335 BUPS @100 % profit
#shortputs
SVXY Mar 17 2017 85.0 Puts @ 0..48 Thank you @optioniceman
Expiration Closed Early and Some Trades
#optionsexpiration
$SPX 2/27 2400/2375 BECS
Closed Early
#shortputs
$SVXY 3/17 BTC 45 put @ .05 99% profit
$SVXY 3/17 BTC 40 put @ .05 98% profit
#spxcampaign
$SPX STO 3/31 2225/2250 BUPS @ 1.25 Thank you @jeffcp66
#$RUT $SPX Knock off Campaign
$RUT 3/17 1315/1335 BUPS @ 1.20 (SUZ @OMM trade)
#shortcalls
$UVXY STO 3/10 30 calls @ .30 Thank you @jdietz1954
Expiration and Closed Early
#optionsexpiration
$SVXY 95 put
Closed Early
#spxcampaign
$SPX 3/3 2250/2275 @ .10 94% profit
$SPX 3/3 2140/2165 BUPS @ .05 95% profit
#shortputs
$TRIP STO 6/16 38 put @ 1.40 Thanks @ramie77
$X STO 3/17 35.50 put @ 1.59
Thanks to everyone. Have a great weekend.
Roll $SVXY
Too Busy To Post
I’ve just returned from short “vacation” to Atlantic City area
Bought Back Early
#spxcampaign
$SPX BTC 2/24 2275/2300 @ .10 95% profit
#spxcampaign
$SPX STO 3/24 2455/2430 BECS @ 1.75
#shortputs
$SVXY STO 2/24 121 put @ .80 Thank you @jdietz1954
Sold to Close
#longcalls
$SPY STC 2/24 235 calls @ 1.35 96% profit
Long $NFLX Calls
BTO 4/21 $NFLX 140 calls @ 9.80 (OMM)
Expiration
$SPX 2125/2150 BUPS
$NTAP 37/39 BUPS (Profit erased by 41/39 BECS half of IC)
$GS 230/235 BUPS
$ALK 90/95 BUPS (Earnings trade Thank you @jeffcp66
$AMZN 910/900 BECS
$MRO 18 call (Covered – will cover again)
$CVI 25 call (Covered – will cover again)
$GPOR 20 call (Covered – will cover again)
$DVN 44 put
$PCTY 30 put
$CMG 370 put
$JNUG 11 put
Stock called away
$CRR 11 calls
$MS 45 calls
$CYNO 55 calls
Stock put to me
$CHK 7 put
Complete loss
$VALE 12 call
Thanks to all.
Remember our presidents this three day weekend.
Trades and Closed Early
#shortputs
$AMZN 4/21 780/805 BUPS @ 4.54 (RCK89 @ OMM)
$GRMN STO 3/17 47.50 puts @ .85
#shortcalls
$CELG STO 3/17 120 call @ 2.29
#longcalls
$CELG BTO 4/21 120/125 BUCS @ 2.35
$SPY BTO 2/24 235 call @ .69
$NKE BTO 4/21 60 call @ .63
Closed Early
$MU 2/17 24/22 BUCS 44% profit
SPX Campaign
$SPX STO 3/17 2225/2250 BUPS @ 1.50
$SPX STO 2/27 2400/2375 BECS @ 1.55
Closed Early #Shortputs
#spxcampaign
Closed Early
$SPX BTC 2/24 2390/2365 BECS @3.50 STO 1/26 @ 1.35
$SPX BTC 2/17 2295/2310 BUP@.05 STO 2/13 @ 1.15 945 PROFIT
#shortputs
$ETSY STO 3/17 12.50 put @.70
$SVXY STO 3/31 95 put @ 2.50 Thank you @fuzzballl
Closing Early Assignment and Trade
#spxcampaign #longcalls #bullputspreads
Closed Early
$SPX BTC 2/17 2275/2300 BUPS @ .45 87% profit (Thanks @jeffcp66)
$SPX BTC 2/17 2355/2330 BECS @ 3.50 STO 1/19 @ 1.50 (Fortuitous fill- not my nickname)
$FB STC 2/17 120 call @13.60 BTO on 11/19 @7.30
$NVDA STO 3/17 100/105 BUPS @ 1.40
Assignment (lost dividend)
$MSFT 2/17 64 call
Happy Valentine’s Day to all. Back to green tomorrow.
Options Bistro 