#SPXcampaign Sold to Open $SPX Apr 8th 2015/1990 put spreads for 1.75. Somewhat aggressive but continuing with bullish sentiment on this minor pullback.
Author Archives: Jeff
SPX calls closed
#SPXcampaign Bought to close $SPX April 1st 2075 calls for 2.25. Sold as part of 2075/2100 call spreads for 1.25 on Tuesday. Can’t risk a blast higher on tomorrow’s jobs report. Will try to sell the long 2100’s for a dime or more if we get strength.
SPX puts sold
#SPXcampaign Sold to open $SPX April 14th (monthly) 2000/1975 put spreads for 1.55. Adding more to this spread, originally sold some for 5.00 last week.
UVXY rolling
#VXXGame I’ve been letting a few too many UVXY puts get a little too far ITM.
BTC UVXY Apr 15th 24 put for 5.60
STO UVXY May 20th 17 put for 2.35
STO UVXY May 20th 32 calls for 1.45
That put I closed was already a roll-out from previously closed puts. Sold for 1.25 on 3/1. I keep rolling into strangles, then have to roll the puts again as the calls go to a nickel. Gotta keep #rolling …
SPX calls stopped
#SPXcampaign Bought to close $SPX April 1st 2070/2095 call spreads for 4.75. Sold for 1.35 on March 1st. Failed to follow my own rules and close this for cheap when I could have. But at least I avoided the panic today when it got above 7.50. Adding to a long list of rolls I’m chipping away at.
SPX puts closed
#SPXcampaign In pre-market, bought to close $SPX April 8th 1950/1925 put spreads for .20. Sold for 1.30 on 3/23.
Rally resuming
After a couple weeks of consolidation the rally higher may be resuming. Expect a new 2016 low in the VIX this morning, and new all-time low in UVXY. With a VIX Upside Warning, it’s possible for strength to continue until we regain the pre-correction high, which in this case was the November 3rd high of 2116. If we make it that far without a serious pullback, upward strength should at least slow.
Non-farm payrolls on Friday could be another catalyst.
SPX more calls, living on the edge
#SPXcampaign Sold to Open $SPX April 1st 2075/2100 call spreads for 1.25. Still holding a 2070/2095 spread as well but gambling that we won’t be going much higher this week. I could be wrong with an upside warning in effect… crazy markets with S&P, gold, and bonds all UP.
#VXXGame-New all-time low in UVXY…
#VXXGame-New all-time low in UVXY notched today, exceeding the low of 21.25 from last Tuesday.
SPX puts closed
#SPXcampaign Bought to close $SPX April 1st 1985/1960 put spreads for .20. Sold for 1.45 last Wednesday.
SPX on Yellen Spike
#SPXcampaign STO $SPX Apr 14th 2090/2115 call spreads for 2.05 (a bit early)
STO $SPX May 27th 2125/2150 call spreads for 4.50, as a roll from previously stopped call spreads.
NUGT on Yellen spike
#ContangoETFs STO NUGT Apr 1st 65 call for 1.35
STO NUGT Apr 8th 72 call for 1.20
STO NUGT Apr 15th 75 call for 1.85
SPX puts sold
#SPXcampaign Sold to Open April 29th 1880/1855 put spreads for 1.35, with SPX at 2030.
SPX calls closed
#SPXcampaign In pre-market, bought to close $SPX April 8th 2110/2140 call spreads for .20. Sold for 1.25 on March 17th.
SPX calls sold
#SPXcampaign When $SPX popped up to 2041, sold to open $SPX April 29th 2125/2150 call spreads for 1.35
NUGT put
#ContangoETFs STO NUGT April 8th 45 put for 2.25. Getting some pressure on some puts, may have to #ReverseRoll if there’s no rebound this week.
SPX puts closed
#SPXcampaign In Pre-market, Bought to Close $SPX April 8th 1880/1855 put spreads for .20. Sold for 1.25 on March 16th.
Options Expiration 3/24/16
Not much this week. Before the bell, BTC $FB 111 call for 2.00 to avoid assignment. Sold for 1.00, so a loss. My short stock position not looking great, but if we get more pullback I can get out.
— Expiring —
NUGT 37 & 40 puts
Have a great three day weekend, all!
SPX calls sold
#SPXcampaign Sold to Open $SPX April 22nd 2100/2125 call spreads for 2.50, with SPX at 2035.
UVXY & NUGT
#VXXGame BTC April 29th 20 put for 1.84 yesterday. Sold for 1.82 on 3/17.
Today: STO UVXY May 6th 32.5 call for 2.85 (highest strike)
STO UVXY May 20th 50 call for 1.98
#ContangoETFs BTC NUGT April 15th 105 calls for .25. Sold for 1.425 on 3/16
SPX puts sold
#SPXcampaign Sold to Open $SPX April 22nd 1875/1850 put spreads for 1.30, with SPX at 2023.
KOLD call
#ContangoETFs Sold to Open $KOLD April 15th 300 call for 3.30
SPX reverse roll attempt
#SPXcampaign I’m not buying this as a breakdown in the market. Volume is low, VIX barely spiking. Still, this trade may not work; won’t let it live if we get much below 2020. This is a #ReverseRoll from stopped call spreads.
Sold to Open $SPX April 14th 2000/1975 put spreads for 5.00, with SPX at 2036.
SPX open and shut
#SPXcampaign STO $SPX April 8th 1950/1925 put spreads for 1.30, with SPX at 2039.
BTC SPX April 8th 2050/2075 call spreads for 9.50, with SPX at 2040. Sold for 8.10 on March 11th when SPX was at 2016. Hopefully the last call spread I need to close. Next highest is 2070 short expiring 4/1.
NUGT down trades
#ContangoETFs BTC NUGT March 24th 75 call for .05. Sold for 1.25 yesterday.
STO April 1st 50 put for 1.90
STO April 8th 45 put for 1.80
SPX puts sold
#SPXcampaign Sold to Open $SPX April 1st 1985/1960 put spreads for 1.45.
UVXY roll
NUGT puts
#ContangoETFs
STO Apr 1st 53 put for 1.30
STO Apr 15th 45 put for 1.45
SPX puts closed
#SPXcampaign Bought to close $SPX April 1st 1925/1900 put spreads for .20. Double-sized position sold for 1.60 last Wednesday.
SPX puts sold
#SPXcampaign Sold to Open $SPX April 22nd 1910/1885 put spreads for 1.40.
NUGT calls
#ContangoETFS STO NUGT March 24th 75 call for 1.25
STO NUGT April 8th 90 call for 2.25
#VXXGame Third day straight of…
#VXXGame Third day straight of new all-time UVXY low.
Inertia Creeps; we’re Moving Up Slowly
From one of my favorite albums; it has nothing to do with the stock market, but it’s what I think of when I hear someone say “moving up slowly.”
KOLD & UVXY
#ContangoETFs BTC KOLD May 85 puts for .40. Sold for 2.10 on 1/29.
#VXXGame STO UVXY June 80 calls for 1.30 (#Rolling from 28 puts closed Friday)
Options Expiration 3/18/16
— Expiring w/max profit —
BOIL 24 call
DATA 45 covered call
KOLD 180 puts
KOLD 300 call
NUGT 35, 40, 45, 47, and 48 puts
PNRA 190 put
TLT 132 calls
— #Assignment —
DUST 5 puts (just a couple so $1K in cash; won’t hold long if there’s no pullback in Gold soon)
Have a great weekend!
SPX further call spread
#SPXcampaign Took a cue from @fuzzballl and sold farther out in time to get beyond all-time highs.
Sold to Open $SPX June 16th 2175/2200 call spreads for 2.75
NOW call
#Earnings #CoveredCalls BTC $NOW March 18th 60 call for .10 to avoid assignment. I’ll hold on to stock longer.
NUGT & UVXY rolls
#ContangoETFs #VXXGame #Rolling
BTC NUGT March 18th 63 call for 5.65. Sold for 112.5 on Tuesday.
STO NUGT April 15th 80 call for 6.10
STO $UVXY June 15 puts for 1.25. This is just part of rolling I’m doing for March 18th 28 puts I closed earlier.
SPX puts sold
#SPXcampaign Sold to Open April 14th 1925/1900 put spreads for 1.30. With volatility having dropped, I’m resuming more traditional put sales. These are sold on an up day only because we’re seeing no down days lately. Maybe this sales will signal a top!
NUGT & UVXY closes
#ContangoETFs BTC $NUGT March 18th 70 call for .20. Sold for 1.00. Avoiding any late day surge. Still have a 63 call to deal with, I will roll that.
#VXXGame BTC $UVXY March 18th 28 put for 4.60. Sold for 1.19 on Feb 8th. Scaling out of these today; may get out of others of less as it is rising; will replace with rolls today or next week.
TLT put closed
BTC March 18th $TLT 129 put for .10 to avoid possible assignment. Sold for .60 last week.
PNRA closed
#Earnings BTC $PNRA March 18th 210 calls for 1.00 to avoid possible assignment. With a 190 put also expiring, today completes the make-up trades for PNRA earnings play. Ended up with only a small profit.
Another All-time low notched in…
Another All-time low notched in UVXY at the open. #VXXGame
Futures up again, $SPY down…
Futures up again, $SPY down because today is ex-dividend.
Quite a day for Bistro’s favorite symbols…
2016 high for SPX
2016 low for VIX & VXX
All-time low for UVXY
2016 high for NUGT
Not quite the 2016 high for SVXY, the laggard as usual.
And a further drop for KOLD, biggest daily point drop of 2016.
SPX calls closed
#SPXcampaign Bought to close $SPX March 17th 2060 calls for .45. Sold in the 2060/2085 spread for 1.19 on March 7th. Can’t risk leaving this open with morning settlement gap risk.
SPX puts closed, calls sold
#SPXcampaign
Bought to close $SPX March 24th 1950/1925 put spreads for .20. Sold on Monday for 2.05.
Sold to Open $SPX April 8th 2110/2140 call spreads for 1.25. (going 30 its wide since no 2135 strike available)
Happy St. Patrick’s Day everyone!
(refresh this page)
Snickers Bar
#ContangoETFs #Rolling
BTC NUGT March 19th 63 call for 11.00. Sold for 1.12 on Monday. Harrumph.
STO NUGT April 15th 72 call for 12.20.
BTC NUGT March 19th 70 call for 5.00. Sold yesterday for 1.00
STO NUGT April 15th 90 call for 6.10
UVXY rolls
#VXXGame $UVXY puts obviously under pressure… continuing to roll into strangles once they go ITM. This is my first roll of several I’ll need…
BTC UVXY April 15th 24 puts for 3.40.
STO UVXY April 29th 20/33.5 strangles for 3.72
I don’t think both of those April 29th strikes will survive, but I will roll the one that gets ATM.
WSM closed
#Earnings BTC $WSM March 19th 55 puts for .30, sold as a 55/50 condor yesterday for .70. Order in to sell the 50 puts for .05, but doubt it will fill unless we get a spike down.
VIX indicator comes through
At least in the short-term, the VIX Indicator’s Upside Warning is working… albeit pretty late from when the rally started. Many prognosticators saying rally should have been over and we are due for a drop. Could be true, but when the VIX passes below 78.6% Fib line, almost always mean more upside ahead, sometimes violently. I don’t trust this rally, but I respect it for now and can see us getting up to the 2070 or 2080 resistance that Robert posted easily. Above 2100 would be a surprise for me, however. Currently moving any call spreads I can to above 2110. #SPXcampaign
SPX puts closed
#SPXcampaign In pre-market (3:09a ET), bought to close $SPX April 1st 1850/1825 for .20. Sold for 2.00 on March 3rd.
VIX confirming
A day after the Upside Warning, VIX is confirming upside bias. This is a new post-correction low, and the lowest VIX reading since Christmas Eve.
WSM earnings
#Earnings Sold to Open $WSM March 18th 55/50 put spreads for .70.
Over last 12 earnings, Biggest UP move: 10.3% , Biggest DOWN move: -12.0% , Average move: 6.0% . This trade is 7.3% OTM.
Geez, were we early on…
Geez, were we early on NUGT calls or what?
SPX calls sold
#SPXcampaign Going above 2100 for any further sales.
Sold to Open $SPX April 14th 2110/2135 call spreads for 1.25
Sold to Open $SPX May 19th 2125/2150 call spreads for 3.50 (as a roll)
SPX put spread
#SPXcampaign Sold to Open $SPX April 8th 1880/1855 put spreads for 1.30.
roll it NOW
#Earnings #Rolling #CoveredCalls
BTC $NOW March 18th 55 call for 6.10. Sold for 1.35 on 2/9
STO NOW April 15th 55 call for 7.90.
SPX put spread
#SPXcampaign Sold to Open $SPX April 1st 1925/1900 put spreads for 1.60, double position as a #ReverseRoll to stopped call spreads.
SPX calls closed
#SPXcampaign Bought to close $SPX April 1st 2040/2065 call spreads for 7.50. Sold for 8.00 on March 4th as a roll. Small profit on this one, but since my stop level of 20-points OTM (2020) was hit last week, needed to close this and wait for higher prices to replace the roll.
Upside Warning fired
#VIXIndicator UPSIDE WARNING fired. We have just hit 3 consecutive VIX closes below the Fib 78.6% retracement. This historically has meant that volatility has subsided in the near term, and we should be seeing further strength to the rally in the SPX.
This also sets a new VIX low of 16.05 from Friday, 3/4.
Tuesday’s levels that would negate this and switch us to a downside warning are 21.05 and 23.58.
This is the first time a VIX upside warning has fired since I developed the indicator, so it will be interesting to see if SPX pushes higher before any big drops. SPX has risen in the days or weeks following this signal over the majority of times it has fired since 2000.
NUGT puts this morning, now calls…
#ContangoETFs STO $NUGT March 18th 63 calls for 1.15
SPX calls stopped
#SPXcampaign Bought to close $SPX March 24th 2025/2050 call spreads for 7.05. Sold for 1.60 on Feb 24th. Using the pullback to kill another threatened spread. This pretty much clears me of problem call spreads, and I will slowly build back positions to recoup losses.
NUGT opener
#ContangoETFs STO NUGT March 18th 47 put for 1.20
Fat Fingers
#SPXcampaign While trying to set up a GTC order to close for .20, I mistakenly closed the $SPX March 23rd (Wednesday weekly) 2050/2075 call spread for 2.55. Sold for 1.60 last week. Rather than replace immediately, I will wait for next spike in SPX.
More NUGT
#ContangoETFs STO NUGT March 18th 48 put for 1.25
STO March 24th 40 put for .80
STO June 17th 20 put for 1.00
SPX calls stopped
#SPXcampaign Bought to close $SPX March 17th 2025/2050 call spreads for 6.50. Sold for 1.50 on Feb 16th. This blew through my STOP on Friday, so needed this pullback for a less painful exit. I’m keeping track of the costs of stops and will work in “rolls” in coming weeks to chip away at the losses premium.
SPX puts sold
#SPXcampaign Sold to Open $SPX March 24th 1950/1925 put spreads for 2.05. Fairly aggressive hedge to my call spreads… if this one gets in trouble I will be happy for the relief.
morning NUGT
#ContangoETFs STO NUGT March 18th 48 puts for .65
Options Expiration 3/11/15
#OptionsExpiration What started out okay turned out to be a crappy end.
— Expiring with max profit —
NUGT 40, 48, and 50 puts
NUGT 70 calls
— Expiring with losses —
SPX 2015/2040 call spreads
SPX 2020/2045 call spreads
SPX 1650/1625 LONG put spreads… small position bought awhile ago…. hmmm, not quite.
SPX call spreads hammered
#SPXcampaign Two spreads I had thought would expire hammered me at day’s end. Allowing the 2015 and 2020 calls expire ITM and taking the loss based on settlement. It should be a more favorable price than trying to work the bid/ask spread (especially since IB does not charge for execution).
Will add to my list of rolls for next week.
UVXY roll
SPX puts closed
#SPXcampaign Bought to close $SPX March 24th 1825/1800 put spreads for .15. Double position sold for 1.30 on March 1st.
SPX roll calls
#SPXcampaign Sold to Open $SPX April 8th 2050/2075 call spreads for 8.10. Yes, I am still fighting the cup trend… this is a roll from previously stopped call spreads. Stop will be 2030. Will try to exit when price of spread drops below 4.00.
