#SPXcampaign Bought to close $SPX March 17th 1880/1855 put spreads for .15. Sold last week for 1.01.
Author Archives: Jeff
FB call
#Earnings STO $FB March 24th 111 call for 1.10. Still trading around my short stock position, waiting for a deeper pullback.
SPX calls
#SPXcampaign Sold to Open March 23rd (Wed expiry) 2050/2075 call spreads for 1.50. First try on a Wednesday weekly… that week’s regular weeklys expire on Thursday due to Good Friday holiday, so this is only one day earlier.
UVXY puts
#VXXGame Sold to Open $UVXY April 8th 22 puts for .60
SPX calls closed
#SPXcampaign Bought to close $SPX March 11th 2025/2050 call spreads for .15. Sold for 1.50 on Feb 16th. Still short two others for March 11th with shorts at 2015 and 2020; will allow to expire.
a NUGT morning’ to ya
#contangoetfs
STO NUGT March 11th 70 call for .75
STO NUGT March 18th 80 calls for 1.50
STO NUGT April 8th 105 call for 2.00
Another put spread closed
#SPXcampaign, just noticed this one filled about 52 minutes before the open: Bought to close $SPX April 1st 1735/1710 put spreads for .20. Sold for 1.35 on March 1st.
Futures dropping from their highs…
Futures dropping from their highs and gold spiking again.
SPX puts closed
#SPXcampaign In pre-market bounce courtesy of ECB…
Bought to close $SPX March 11 1935/1910 put spreads for .20. Sold on Tuesday for 1.50.
Bought to close $SPX March 17 1850/1825 put spreads for .20. Sold on 2/26 for 2.00.
SPX call spread bonus
#SPXcampaign Sold to Open $SPX March 11th 2015/2040 call spreads for 2.20. Squeezing this one in there, hoping no one notices.
VIX action interesting today. Despite…
VIX action interesting today. Despite the market being up all day, VIX has moved very little, and is actually also up on the day. I remain bearish over short-term.
Market up and gold pops…
Market up and gold pops too.
SPX calls
#SPXcampaign Sold to Open $SPX April 8th 2090/2115 call spreads for 1.25.
NUGT drop
#ContangoETFs STO NUGT Mar 24th 37 puts for 1.00
BTC NUGT March 18th 15 put for .05. Sold for 1.40 on Oct 16th
BTC NUGT March 11th 37 puts for .05. Sold for 1.125 avg price in Feb
PNRA dumping
#Earnings BTC $PNRA March 18th 220 call for .80. Sold yesterday for 2.55. This one spiked then collapsed two days in a row. Maybe I can do this again before expiration.
NUGT puts
#ContangoETFs STO NUGT March 18th 45 put for 1.40
STO NUGT April 15th 30 put for .85
SPX same week spread
#SPXcampaign Sold to Open $SPX March 11th 1935/1910 puts spreads for 1.50. Expire this Friday unless I close out on next rally up.
FB covered put
#Earnings STO $FB March 24th 102 put for 1.25, against short stock position.
SPX 2005 seems to be…
SPX 2005 seems to be formidable resistance.
PNRA call
STO $PNRA March 18th 220 call for 2.55. Also short the 210’s, sold this one on today’s spike.
SPX puts closed
#SPXcampaign Bought to close $SPX March 11th 1900/1875 put spreads for .20. Sold for 1.80 last Wednesday.
FB much weaker than market
FB much weaker than market
SPX iron condor
#SPXcampaign Unable to sense a true direction, betting that we don’t get a huge break up or down anytime soon. So selling a condor seems best. Will treat each side separately if threatened.
Sold to Open $SPX March 17th 1855/1880/2060/2085 iron condors for 2.20.
NUGT weeklys
#ContangoETFs STO $NUGT March 11th 80 calls for 1.25
VIX indicator… available every day on right-hand sidebar —>
VIX indicator for Monday 3/7: Friday was the second close under the VIX’s Fib 78.6% retracement. Three of those in a row and the Downside Warning ends; it is currently in effect from these dates: 11/13, 12/3, 12/9, 12/14, 1/4, 1/7, 1/20, 2/8.
Monday’s signal levels, which would indicate further downside warning, are 20.88 and 25.60.
To nullify Downside warnings:
1) SPX above 2116.48 (Nov 3 high), or
2) VIX close below 16.93 for three consecutive days, or
3) New VIX low (below 12.80)
Upside Warning: VIX close below 16.93; one or two days is caution, third consecutive day is an Upside Warning.
UVXY roll
Options Expiration 3/4/16
— Expiring w/max profit —
AVGO 125/115 put spreads
NUGT 70 & 75 calls
NUGT 47 puts
UVXY 50 calls
Have a good weekend all!
NUGT puts
#ContangoETFs Rolled up some puts…
BTC NUGT March 11th 35 puts for .05. Sold for 1.075 in Feb.
STO NUGT March 11th 48 puts for .70
STO NUGT March 18th 40 puts for .65
BOIL closes
#ContangoETFs Funny how these calls only close on UP days with my GTC orders. I imagine it is because they are the only days when any bids are available.
BTC $BOIL June 27 calls for .05. Sold for 1.50 on Dec 28th.
SPX call roll
#SPXcampaign Changed my mind and decided to roll into a new call spread. This one will have a short leash… stop will be at or before 2020.
Sold to Open $SPX April 1st 2040/2065 call spreads for 8.00, with SPX at 2008.
UVXY approaching highs of the…
UVXY approaching highs of the day despite SPX going sideways. Signaling a top?
Closing down TLT
#LongCalls Can’t justify holding $TLT long calls any more… closing down March 130 calls and April 133 calls, about 1.00 average loss on each. Short calls sold yesterday lessen that loss to below .80, and I will close those for pennies one of these days.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 17th 2005/2030 call spreads for 11.00. Sold for 5.50 on Tuesday as a roll. That was a painful one I had to chase after missing this morning’s lows. With VIX going lower, I cannot roll up at this time. I have to save rolls for much higher SPX levels, or if VIX reverses upward.
FB short
#Earnings #ShortStock STO $FB April 1st 100 put for .80. Selling against my short stock position. Earlier this week closed March 4th 110 short calls and 105 covered puts to avoid any possible assignment today.
Is GOLD a tell?
Strength in GLD and NUGT for 2nd straight day could be signaling a market top? Highest point in NUGT since July
Jobs beat expectations, UE rate stays the same
I feel more upside is in order no matter what the number was… yesterday was first day of VIX closing below the Fib 78.6%… this is a signal that downside risk could be ending… three consecutive closes below that line on the VIX (16.93) has historically meant a continued uptrend for weeks or months. But if we can’t hold VIX down there for three days, it could bounce into more volatility.
UVXY put roll
SPX puts closed
#SPXcampaign Bought to close $SPX March 24th 1750/1725 put spreads for .20. Sold for 1.35 on 2/23.
Diagonalizing
#LongCalls #Diagonals Selling some shorter term calls against my TLT long calls (thanks @prvtrader for the idea).
Against long March 18th 130 calls, STO TLT March 11th 131 calls for .60
Against long April 15th 133 calls, STO TLT March 18th 132 calls for .68
Took only partial position at this point, will sell more or higher strikes if TLT continues rally.
Divergences or convergences?
TLT rallying… so market should be weak…
But transports are strong, even with down-market.
Gold/Silver rallying big.
Searching on Bistro
There are multiple ways to Search for past Posts on Bistro, including stock symbols, hashtags, strategies, by date, by Contributor.
AVGO earnings
#Earnings… This is what I wrote on December 2nd on $AVGO’s last earnings:
… this one almost never moves down on earnings. You have to go back to Dec 2010 for its only significant down move, -6.5%.
AVGO moved up 9.5% the next day, so enough said:
Sold to Open AVGO March 4th 125/115 put spreads for 1.00. Last 12 reports, Biggest UP move: 14.7% , Biggest DOWN move: -0.2% , Average move: 6.5% . Short strike is 8.1% OTM.
SPX put spread
#SPXcampaign Sold to Open $SPX April 1st 1850/1825 put spreads for 2.00. Slightly more aggressive than usual since I’m treating as a partial roll from stopped call spreads.
SPX call roll
#SPXcampaign 14 minutes after the bell, sold to open $SPX March 11th 2025/2050 call spreads for 2.25.
SPX same-day spread
#SPXcampaign Bought to close $SPX March 4th 1935/1910 put spreads for .40. Sold this morning for 1.60.
New low on VIX, touching…
New low on VIX, touching below 16.93 level intraday. Getting closer to an Upside Warning, but this could be the place where it bounces, too.
SPX puts closed
#SPXcampaign Bought to close $SPX March 11th 1840/1815 put spreads for .30. Sold for 1.70 on Monday.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 11th 2000/2025 call spreads for 5.90. Sold for 1.30 on Feb 8th. Uptrend knocking’ down my spreads like dominos! Will work on rolls in coming days.
Also, earlier today, forgot to post
STO $SPX March 11th 1900/1875 put spreads for 1.80.
SPX same week
#SPXcampaign Sold to Open $SPX March 4th 1935/1910 put spreads for 1.60. Playing it a bit close but strength seems to continue, so not expecting a collapse this week. Plan to be out of this today if the rally continues.
SPX calls stopped
#SPXcampaign BTC $SPX March 4th 1980/2005 call spreads for 7.40. Will implement rolls in the coming days.
SPX put spreads
#SPXcampaign #Rolling Selling the other half of my roll; closed 1960-1985 call spread last week for 7.70. Sold new call spread earlier today for 5.50, selling this one, double-size, for 1.30; so netting additional .40 on the roll (added to the 1.25 initial spread was sold for).
STO $SPX March 24th 1825/1800 put spreads for 1.30.
Also need to stop out of the March 4th 1980/2005 call spread… ripped past my stop point while I was away from the desk this morning. Been closing and rolling anything that gets within 20-points.
TZA closed out
#ContangoETFs Since these positions are all doing pretty well, I’m closing down my entire TZA position to clear margin. All of these are at a profit (except for puts), but the expensive ones were sold as rolls, so overall positions are less profitable. I will look to sell calls again on this in subsequent spikes.
BTC TZA March 18th 80 calls for .18. Sold for 7.15
BTC TZA March 18th 50 calls for 4.30. Sold for 20.60
BTC TZA April 15th 85 calls for .60. Sold for 5.05
BTC TZA July 85 calls for 3.20. Sold for 5.90
BTC TZA Jan ’17 80 call for 7.60. Sold for 14.00
BTC TZA March 18th 50 puts for 1.24. Sold for 1.00.
ZSL closed out
#ContangoETFs Closing out my last remaining positions in $ZSL to clear out margin. First time I’ve had no position in this name in years, but since the split it has been pretty boring.
BTC ZSL May 40 puts for 1.00. Sold for 1.30 on Dec 4th
BTC ZSL May 80 call for .60. Sold for 3.00 on Dec 30th
BTC ZSL May 82.5 calls for .55. Sold for 2.30 (effective price) on Nov 4th.
UVXY mgt
#VXXGame #Rolling First time I’m having to roll ATM short puts in about a year.
BTC UVXY March 4th 35 puts for 1.70.
BTC UVXY March 11th 35 puts for 2.84
Replaced all of the above with enough contracts of the following to net a credit…
STO UVXY April 15th 24/75 strangles for 2.52
Also:
BTC UVXY March 11th 75 calls for .07. Sold for .55 on Feb 23rd
BTC UVXY March 18th 80 call for .22. Sold for 4.40 on Dec 3rd
AZO earnings closed
#Earnings Bought to close $AZO 710/850 strangles for 1.85. Sold yesterday for 5.00. Would have preferred to hold on, but it was using 15K in margin that I need to manage the SPX uptrend.
SPX call spreads
#SPXcampaign This is probably the last time I can sell call spreads on this trend. I will start to have a lot of stop-outs if we continue toward 2000. VIX hits a new 2016 low and heading toward the key 16.93 level.
STO $SPX March 17th 2005/2030 calls for 5.50, as a roll from spread stopped last week.
STO $SPX April 1st 2070/2095 calls for 1.25.
NUGT puts
#ContangoETFs Scaling into several short-term puts which are all margin free (offsetting calls)
STO NUGT March 4th 47 puts for .75
STO NUGT March 11th 40 puts for .75
UVXY scalp
#VXXGame STO $UVXY March 4th 50 calls for .47
NOTE: UVXY and SVXY options are tradeable until 4:15et each day, so you can still sell these.
…another put spread in the wall
#SPXcampaign STO $SPX April 1st 1735/1710 put spreads for 1.25, with SPX at 1937.
SPX puts sold
#SPXcampaign Sold to Open $SPX March 11th 1840/1815 put spreads for 1.70, with SPX at 1937. Trying to sell another spread but chasing the bounce.
AZO earnings
#Earnings This one has been a very solid stock with small, controlled moves on earnings. 7.5% (up) is its biggest move over a 21-day period after earnings (there are 19 days left until March expiration). You have to go back to the financial crisis to find anything bigger. Its average move over 21 days is only 2.9%. This trade has strikes that are over 8% OTM. If you want to play it safer and go for a condor, you might want to try a closer strike on the puts, so 710/720/850/860 (in a bullish trend and moves after earnings are usually to upside).
STO $AZO March 18th 710/850 strangles for 5.00.
My Weekly NUGT trade
#ContangoETFs Been selling 15-25 points higher for same week expirations each week…
STO NUGT March 4th 70 calls for 1.00
TLT adds to my long positions
#LongCalls
BTO TLT March 18th 130 calls for 1.84. Cost basis now 1.93
BTO TLT April 15th 133 call for 1.56. Cost basis now 1.61
SPX calls closed
#SPXcampaign Put in an order to close in case we dropped into the close, and it filled after the close;
BTC $SPX March 4th 1960/1985 call spreads for 7.70. Will work on rolls next week. I think a pullback happens next but had to clear this one away in case we awake Monday to another rally.
Options Expiration 2/26/16
#OptionsExpiration 2/26/16
— Expiring w/ max profit —
NUGT 30 puts
NUGT 68 and 70 calls
My lightest expiration in many weeks, since I closed or rolled several things early.
Have a great weekend all!
BIDU closed
#Earnings Bought to close $BIDU Feb 26th 175 calls for .20. Sold yesterday as part of a condor for 1.15. Closing early to avoid any last minute eruptions. Patience paid for me on this one; congrats to those that had the proper patience on PANW!
NUGT puts
#ContangoETFs STO NUGT March 11th 40 put for 1.70 (adding)
STO NUGT April 1st 30 put for 1.30
SPX call roll
#SPXcampaign #Rolling Sold to Open $SPX March 24th 2005/2030 call spreads for 7.20. Part of a roll from this morning’s stopped spread.
SPX puts closed
#SPXcampaign Bought to close $SPX March 4th 1800/1775 puts for .15. Double position sold as part of a roll for 1.45 on Feb 18th.
Adding to TLT
#LongCalls Adding to my TLT position on pullback to 21 dma:
BTO TLT Mar 18th 130 call for 1.70
BTO TLT April 15th 133 call for 1.42
PANW closed
#Earnings Bought to close PANW Feb 26th 144/149 call spreads for 3.80. Sold as part of condor for 1.55. I got out for less than the 5.00 I would be charged if I allowed to expire ITM. You could also wait to see if it drops, or leg out for even better prices.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 4th 1975/2000 call spreads for 9.00 in premarket. Started already with some roll positions and will add more in coming days.
VIX plummeting
#SPXcampaign The VIX closed below a key support level of 19.20, signaling the bulls are proving themselves further. VIX is at a decision level; will it proceed down to 16.93, signaling an end to near-term downside risk, or bounce off the B-bands and signal more volatility? SPX call spreads have been under pressure and I will be executing some rolls today. To start, I sold a put spread in pre-market:
Sold to Open $SPX March 18th 1850/1825 put spreads for 2.00. This is an aggressive position designed to offset my call spreads.
PANW pre-release?
#Earnings jumps 9% 20 minutes before close. Looks like trading halted.
UVXY and NUGT mgt
Earlier today, made some adjustments for margin purposes…
BTC UVXY Feb 26th 60 call for .03. Sold for .30 yesterday
BTC UVXY Feb 26th 58 calls for .04. Sold for .35 yesterday
BTC UVXY Mar 11th 80 call for .34. Sold for 2.17 on Feb 2nd
BTC UVXY June 110 call for 4.50. Sold for 9.50 on Jan 25th
STO UVXY April 1st 29 puts for 1.50
STO NUGT March 11th 40 put for 1.55
STO NUGT March 11th 37 put for 1.05
