#pietrade 1 roll today, otherwise…

#pietrade

1 roll today, otherwise letting everything else assign/close/expire worthless and will re-load Monday.

TNA today 69 CC rolled to next week for 0.94 credit. Took advantage of the weakness to load more cash. Cost basis now 66.63.

#supercharger Assigned early on half…

#supercharger

Assigned early on half of my ERX 8 DTE 20/25 call vertical debit spread. So short half the spread. Easy fix, the 20 long call was so far ITM exercised at intrinsic value so made half the profit a week early. Will let the rest expire next week.

Sitting on my hands the next 2 days, then have a lot expiring tomorrow and will either let assign or roll on Monday depending on what’s left.

FAS CC at 65, 64, 66 are all ATM so will see what happens. Cost basis 61.27, 64.11, 58.17 and 60.63 so all looking good either way.

TNA 69 CC at full profit so will let assign tomorrow.

GM 38.5 CC next week, it is also ATM.

Finally 2 positive weeks in a row, easier with market moving up but I had some trades with a bearish bias as well. Have pulled back 11k on the SVXY losses. Still a long way to go but every bit helps.

Looking at trades for next week, good premiums still out there, WDC, EXPE, SMH, XBI all at top of the list. Some have earnings. SWKS possible #fallingknife looks like finding bottom.

That’s all I have until Monday, have a good expiration and weekend!

#pietrade STO 4 DTE FAS…

#pietrade

STO 4 DTE FAS 62 put at 0.73. Will take assignment if below or roll if not.

#optionsexpiration Did not have time…

#optionsexpiration

Did not have time to post yesterday (it was windy and warm and I had the day off so kiteboard season officially started Thurs).

XBI BTC 81 puts for 0.3 sold for 1.02 last week.

UTX BTc the 21 DTE 122/131 strangle for 2.49. Sold for many rolls for 2.5 so basically a scratch, wanted to free up the capital to use somewhere else. This was just wasting time and had already rolled 3 times and earnings coming up so just wanted out.

NSC btc 14 DTE 127/141 strangle for 2.8. Sold for 3.63 so same situation as UTX, just wanted the money to use somewhere else.

ERX #fuzzy ran away to the upside so closed for a slight profit. I lost track of the math since I had rolled it but bottom line is I gained back a little more than I put in. Closed for 6.6 and I think I had 6.22 in the trade.

FAS this week 64 cc rolled to next week for 1.25 cb 60.63
FAS this week 65 cc rolled next week for 1.2 credit. cb 58.17
FAS this week 67 cc rolled to next week 65 cc for 1.02 cb 64.11

LNG cc assigned at 54 cost basis 53.27.

Opened TNA ATM cc for next week at 69 for 67.55.

A few observations with all the whipsawing in the market. The leveraged products are easier to roll because of the higher premiums. Even though most of the FAS trades were underwater in 2 weeks that are all back to break even or profitable.

The deep ITM vertical debit spreads #supercharger work very well and easy to convert to #fuzzy if they need adjusting.

#pietrades are still my bread and butter but as @fuzzballl pointed out below, I am also moving towards more ETFs than single names. But they have to be on higher volatility names or the premiums are not there. XBI, FAS, ERX, TNA, TQQQ, UPRO, SMH, UDOW, QQQ, SPY, DIA are all trading well at the moment and I will be focusing on the names that work more consistently and actually require less work. My GM trade has taken 8-9 weeks to break even. ERX was down way more and only took 2 weeks of rolls to break even.

Going with the KISS principle going forward. Finally made back 6k of the SVXY losses in those accounts but still a long long way to go 😦

Spring here as well, 60 mile bike with friends this morning now going out to mow the lawn. Hope everyone gets to enjoy the weekend. Have a few trades lined up for Monday but depends on how we ope with Syria news.

/CL

For those that are interested, and there are now multiple expiration cycles on the options. No weeklies yet but I my hands, er account dirty again.

#pietrades Did not have time…

#pietrades

Did not have time to post but at lunch converted my UTX short puts and NSC short puts into strangles. Both going into earnings.

Normally I don’t do this on individual names, but trying to stay in some trades just a little longer to let theta do some work. As soon as I have a profit will close and roll down.

STO 24 DTE NSC 141 call for 0.6. Now have 127/141 strangle.
STO 24 DTE UTX 131 call for 0.6. Now have the 122/131 strangle.

I was looking at doing the same with XBI but is tearing to the upside. As soon as momentum shifts will add call side.

Some reversal, was there a…

Some reversal, was there a stupid tweet I missed or the Syria and trade war rhetoric back in the news?

#fuzzies