#SuperCharger STC $REGN Oct 26th 380/390 BuCS for 5.57. Bought for 7.35 on Tuesday.
STC $AMZN Oct 19th 1880/18890 BuCS for 5.00. Bought for 7.25 yesterday.
I’ll look to add these or others back when it appears a bottom is in.
Author Archives: Jeff
New VIX highs
Intraday levels highest since late June.
Downside Warning in effect if we close at 14.52 or higher.
SQ long calls sold
#LongCalls A bright spot, sold $SQ Jan 2019 60 calls for 35.25. Bought for 3.51 average price between last November and January. My attempts at short term diagonals ended up being a loss overall since this stock had such wild swings and blew through my calls a few times. So cost basis is actually increased to around 5.50.
Liquidate!
Had a come to Jesus moment at about 2 in the morning. I realized I needed to consider dumping a lot of positions. My account size has not budged much in the last couple months… money I’ve made in options has been sucked away by too many crappy stock positions. Other than AAPL and SQ, stock has not been good to me, all #PieTrades I have tried, rather Earnings repair or from scratch, have been huge dogs.
So I just dumped almost all stock positions.
Winners: $AAPL, $SQ
Losers: $FB, $BABA, $OLED, $MU, $OLED, $YY, $AMAT
Fortunately, other than $FB, the losers were all only 100 shares. AAPL and SQ were both 200. My FB losses were minimal since I have sold covered calls for a year on 100 shares, getting that lot down to 105.00 cost average. I then had more shares added in August earnings dump.
Now I can focus on strategies that I have more control over, rather than the whims of stock prices.
I’m still in options positions in $BOIL, $GUSH, $DUST. Also long calls in $PYPL (Jan 100’s, not doing well). Sticking with pre-earnings trades in $CAT, $JPM, and $MSFT. Long stock in $PVTL, since its so cheap. And a few #VXXGame short calls, and my long running long puts, the $VXX Jan 20 puts, which have lost so much potential in this volatile year.
Dumped underwater short puts in $RH. That symbol has simply killed me, I must quit it!
Also, closed $SPX Oct 12th 2825/2850/2960/2985 condor for breakeven at 4.15.
I’m looking to exit the #SuperChargers since short strikes have been breached, in $AMZN and $REGN.
Addtacat
#PreEarnings Bought $CAT Oct 26th 165 calls for 1.20, adding to the position started yesterday.
September Jobs Report
#Jobs Lower than expected, but previous months boosted higher, and unemployment reaches historic lows.
+134,000 non-farm payroll jobs, vs. 180K expected
Unemployment falls to 3.7%, down 0.2%, lowest since 1959
U6 unemployment at 7.5%, up by 0.1
Wages up 0.2%, 2.8% year over year, 0.1 lower than August
Labor force participation 62.7%, no change
July increased 147K to 165K
August increased 201K to 270K
Calls closed
#CoveredCallCampaign
BTC $FB Oct 12th 172.5 call for .14. Sold for 1.20 on 9/20
BTC $FB Oct 19th 172.5 call for .40. Sold for 2.00 on 9/26
Earlier in the day:
Stopped $AAPL Oct 26th 232.5 call for 4.50. Sold 220/232.5 #StrangleRoll for 4.76 on 10/1
#StrangleRoll Sold Oct 26th 222.5/235 strangle for 5.01
Joining the TQQQ Queue
#SyntheticCoveredCalls #LongLEAPs
Bought $TQQQ Jan 2020 66.67 call for 17.60. Plan to sell calls against it.
Perspective
Today could be the first 1% drop for the S&P 500 in 70 trading sessions.
That might feel bad, but remember 4 years ago this month there was a legit fear that ebola was going to spread over the globe.
The SPX is up 55% since those October '14 lows.
— Ryan Detrick, CMT (@RyanDetrick) October 4, 2018
Stopped out
#CoveredCallCampaign
Strikes breached so stopping out. I will wait to consider rolls tomorrow. The bottom could be in at any second here, but since it looks like we’re entering a Downside Warning, I have to be ready for more downside in the coming days.
BTC $SQ Oct 26th 94 puts for 4.65. Sold in 94/105 #StrangleRoll for 5.50 on Friday. Will leave the 105 calls in place.
BTC $FB Oct 19th 157.5 puts for 3.90. Sold for 2.30 on Tuesday.
A Soft spot
#PreEarnings Bought to Open $MSFT Oct 26th 116 calls for 1.40, starter position.
A (very) quick aside…
#OffTopic I was pretty sure they had that wrong…
TSLA stopped
#Earnings repair Stopped $TSLA Oct 12th 285 put for 11.95. Sold for 4.15 on Tuesday.
Flat in TSLA. My earnings repair has done well after being whipsawed in August; reduced my losses by more than half. But the last week has been another whipsaw, with the wins being canceled by losses, so I’m taking a break. Margins are jacked up on this one anyway.
VIX stops being boring
#VIXIndicator… new highs today, 15.19 highest since Sep 10th. If we close the day above 14.51, it will be a new Downside Warning. This just one day after the lowest close since August 9th.
UVXY sold
#VXXGame Sold to Open $UVXY Jan 2019 70 calls for 4.25. Filled on the way up, not the top.
Copy CAT
#Pre-Earnings Bought to open $CAT Oct 26th 165 calls for 1.80. Starter position, following MamaCash. Will add up to two more lots.
JPM, half closed
#PreEarnings Put in my order near the highs but then the flush came. Closed half my position.
Sold to close $JPM Oct 12th 116 calls for 1.43. Avg purchase price .83
AMZN Super Dooper
#SuperCharger Kind od surprised this is available for such a low price, expiring before earnings.
Bought to Open $AMZN Oct 19th 1880/1890 bull call spread for 7.25.
Could this be the reason…
…for this afternoon’s drop? The Presidential test tweet caused the algos to freak out?
Looks like somebody forgot to tell the algos it was only a test. pic.twitter.com/YNhf7hgLH9
— Bespoke (@bespokeinvest) October 3, 2018
Afternoon dump
#Market We just hit the lowest $TICK since mid-May. It seems every day we start the day strong, and then hit volatility in the afternoon, before closing out on a mini-rally.
New Bistro features!
Click “Refresh” to load these new features in the right-hand column.
*Upcoming #Earnings – shows the tickers reporting earnings over next 7 trading days. Included are stocks with weekly options, at least $5.00 stock price, and significant volume. Tickers that are commonly traded by the Bistro community are highlighted in red. You may click on the chart for a larger view. PLEASE SEND SUGGESTIONS of tickers you think should be included if you notice any missing.
*Mama Cash’s #PreEarnings Trades – this is a link to Mama’s excel sheet for trade ideas and past performance of stocks that perform well leading up to their earnings dates. She will keep this updated as earnings season progresses.
*Countdown – will countdown the days until any significant trading events. Again, open to suggestions.
Let me know if you have any questions!
#Welcome
FDX puts closed
#PostEarnings Bought to close $FDX Oct 12th 240 puts for 1.61. Sold for 2.90 on Sep 18th. This never got scary but was annoying.
Fun stuff to worry about
Here is every time in the past 25 years when the Dow closed at a 52-week high while most of the NYSE was in a bear market. pic.twitter.com/CZNWhZhq30
— SentimenTrader (@sentimentrader) October 3, 2018
AAPL roll & TSLA quickie
#CoveredCallCampaign
BTC $AAPL Oct 12th 215 put for .35. Sold for 2.05 on Sep 25th
Stopped AAPL Oct 12th 227.5 call for 3.65. Sold for 2.13 on Sep 20th.
#StrangleRoll Sold AAPL Oct 19th 222.5/235 strangle for 3.21.
BTC $TSLA Oct 5th 320 call for 1.00. Sold yesterday for 5.75.
Covered Calls
#CoveredCallCampaign
BTC $BABA Oct 5th 170 call for .15. Sold for 1.55 on Sep 19th.
Sold $OLED Oct 12th 126 call for 2.00.
Sold $FB Oct 19th 157.5 puts for 2.30
And #Earnings Repair:
BTC $TSLA Oct 12th 250 put for .93. Sold for 11.30 on Friday.
Rolled to: Sold $TSLA Oct 12th 285 put for 4.15
BOILing over
#ContangoETFs My next order filled; sold $BOIL Jan 2019 45 call for 2.25. Next order in to sell at 3.00.
REGN long
#SuperCharger Replacing the NVDA one that closed yesterday. This expires before earnings.
Bought $REGN Oct 26th 380/390 bull call spread for 7.35. Price target 9.40.
Chips are breaking out
#PieTrades #LongCalls
Sold $MU Oct 12th 47 #CoveredCall for .90.
Still long Oct 5th 45 calls, bought for 2.02 on Sep 20th, which hasn’t worked out yet and probably should have taken a 50% loss last week. But maybe I’ll get the breakout just in time.
NFLX lophir closed
#Lophir Closed on GTC order: $NFLX 300/325/340/350 lopper for 2.50. Sold for 8.35 on Sept 19th. Thanks MamaCash!
NVDA closed
#SuperCharger Sold to close $NVDA Oct 26th 247.5/257.5 bull call spread for 9.50. Bought for 7.25 on Sep 21st.
AAPL roll
#CoveredCallCampaign
BTC $AAPL Oct 5th 215 puts for .15. Sold for 1.78 on Sep 15th.
Stopped: $AAPL Oct 19th 227.5 calls for 3.90. Sold for 2.10 on Sep 25th.
#StrangleRoll: Sold Oct 26th 220/232.5 strangles for 4.75
Added BOIL
#ContangoETFs Sold $BOIL Jan 2019 45 call for 1.75, adding to my position. Order in for another at 2.25.
Econ Calendar for week of 10/1/18
Link to calendar: http://mam.econoday.com/byweek.asp?cust=mam
TSLA call
Sold $TSLA Oct 5th 320 call for 5.75. Expires on Friday. Against a 250 put sold Friday as a roll, (trying to close for 1.00)
SPexcel
$SPX just finished its best quarter since 2013. It didn’t really feel like that.
“For the quarter, the S&P 500 rose 7.2 percent, its best quarterly gain since fourth quarter 2013. The Nasdaq also notched a 7.1 percent quarterly gain, its best since first quarter 2017. The Dow outperformed in the third quarter, rising 9.3 percent.”
https://www.cnbc.com/2018/09/28/us-markets-political-turmoil-and-data-take-center-stage.html
Options Expiration 9/28/18
#OptionsExpiration #SPXcampaign
— Expiring —
$SPX 2815/2840/2950/2975 condors, sold for 3.65 on Sep 13th
Double down
#PreEarnings I wasn’t planning on increasing size on this, but I’m getting such a discount today that I figured why not. If we don’t bounce by Monday or Tuesday, this won’t be looking too good.
BTO $JPM Oct 12th 116 calls for .50, adding to my position, started yesterday for 1.14.
TSLA roll
#Earnings Closed my remaining $TSLA Oct 5th 275/322.5 strangle for 19.92. Was trying to work a decent exit when it was reaching its intraday high, but missed my fill. Then got caught in the steep dive for a crappy exit near the lows.
Partial roll: Sold Oct 12th 250 put for 11.30.
I’ll wait to see Monday before adding more.
My square rolls as well as any circle would
TSLA call closed
BTC $TSLA Oct 5th 322.5 call for 1.01. Sold for 5.44 (avg price) earlier this week.
Still sitting on an Oct 5th 275/322.5 strangle.
Looking too bullish? Just wait a day…
Tesla shares drop sharply after-hours on news that Tesla and CEO Elon Musk have been sued by the SEC. $TSLA https://t.co/liwoa8TXs1 pic.twitter.com/AITBqqRG3N
— CNBC (@CNBC) September 27, 2018
SPX condor sold
#SPXcampaign Sold to Open $SPX Oct 12th 2825/2850/2960/2985 iron condors for 4.25. This is my third round of 2-week-DTE condors, replacing one that is expiring tomorrow.
JPM long calls
#PreEarnings Bought to open $JPM Oct 12th 116 calls for 1.14.
Got this from MamaCash’s excel sheet… buying 40-delta call, 14 days out. The pullback in the stock over last few days provides decent entry for a run up into earnings, which are the morning of the 12th. I’ll plan to close the trade before the market close on the 11th. I’ll look to take profits if stock approaches its recent high of 119.24.
SQ puts closed
#CoveredCallCampaign
Closed on GTC orders:
$SQ Oct 5th 82 puts for .10. Sold for 1.00 on Sept 14th
$MU Sep 28th 45 covered call for .08. Sold for .90 last Friday
GOOGL SuperCharger closed
#SuperCharger Sold to close $GOOGL Oct 5th 1140/1150 bull call spreads for 9.55.
Bought for 6.85 on the 17th, after rolling from the Sep 28th 1155/1165 spread.
UVXY call
#VXXGame Filled right after the bell (since VIX ETF options stay open until 4:15p):
STO $UVXY March 75 call for 5.00. Highest strike.
Don’t Bring Me Down…
Dow turns negative after Powell press conference ends; bank stocks lead decline https://t.co/SiORT8kanq pic.twitter.com/7xtwddKI0Z
— CNBC Now (@CNBCnow) September 26, 2018
BOIL is back
#ContangoETFs Sold to Open $BOIL Jan 2019 45 call for 1.25. Highest strike.
Covered Calls & TSLA
#CoveredCallCampaign
STO $FB Oct 19th 172.5 calls for 2.00
BTC $OLED Sep 28th 124 call for .15. Sold for 1.65 on Friday
#Earnings
BTC $TSLA Sep 28th 275/322.5 strangle for 1.10. Sold for 8.20 on Sep 17th.
STO $TSLA Oct 5th 322.5 call for 5.60, adding to my position. Will sell another put on a down move.
New issue…
SurveyMonkey soars more than 60% in market debut, after opening at $18.75 per share https://t.co/a3jfknk6Fg pic.twitter.com/Ll7wchkBkx
— CNBC Now (@CNBCnow) September 26, 2018
SQ roll
#CoveredCallCampaign #StrangleRoll
BTC $SQ Oct 19th 97 calls for 4.40. Sold yesterday morning for 1.60.
STO $SQ Oct 19th 88/100 strangles for 5.00
Square up +11% https://finance.yahoo.com/news/why-square-inc-stock-jumped-191700513.html $SQ
Square up +11%
https://finance.yahoo.com/news/why-square-inc-stock-jumped-191700513.html
$SQ
GUSH call sold
#ContangoETFs STO $GUSH March 55 call for 4.20. Looks like I was filled at today’s top.
TSLA and RH
#Earnings Building back after earnings trades gone bad
BTC $TSLA Sep 28th 275/322.5 strangle for 2.40. Sold for 8.20 on Sept 17th. (still holding another lot)
Sold $TSLA Oct 5th 275/322.5 strangle for 11.15 (legged in)
Sold $RH Oct 5th 130 put for 2.80.
Covered Calls and such
#coveredcallcampaign
BTC $FB Oct 5th 175 calls for .15. Sold for 1.50 on Sept 11
BTC $AAPL Oct 5th 230 calls for .35. Sold for 3.60 on Sept 13th
STO $AAPL Oct 19th 227.5 call for 2.10
STO $AAPL Oct 12th 215 put for 2.05
BTC $SQ Sep 28th 80 put for .13. Sold for 1.30.
STO $SQ Oct 19th 97 calls for 1.60
Sold to close $BABA stock for 163.15. Raising some cash by selling half of my stock. This one can’t get off its ass. Was assigned via 200 puts on Feb 2nd. With covered call and put sales, cost basis 183.00. Holding the rest for an eventual return to 200.
BTC $BABA Oct 5th 175 call for .45. Sold for 1.60 on Friday.
AMZN Supercharger
#SuperCharger $AMZN keeps testing new lows so I’m out with a tiny profit on this round, small loss overall counting the first one I rolled.
Sold to close $AMZN Oct 19th 1865/1875 bull call spreads for 6.75. Bought for 6.55 last week.
$GOOGL also looking weak, but didn’t breach my 1150 short strike so I’ll hang with it.
Also opened one in $NVDA Friday, which is holding up.
Econ Calendar for week of 9/24/18
Click on the chart for a larger view
Link to chart: http://mam.econoday.com/byweek.asp?cust=mam
Missed it by that much
#VIXIndicator The close bumped us up to 11.68, so still no start of the countdown to an Upside Warning.
Covered Calls
#CoveredCallCampaign
#Rolling $BABA hit 170 in the pre-market; I closed one of two calls I had at the 170 strike. Kept the other.
BTC BABA Sep 28th 170 call for 1.95. Sold for 1.55 on Sept 12th
#Rolling Sold BABA Oct 5th 175 call for 1.60
BTC $SQ Oct 5th 97 covered calls for .25. Sold for 2.45 on Sept 13th
Sold $MU Sept 28th 45 covered call for .90. I also am still long Oct 5th 45 calls.
BTC $OLED Sept 21st 122 covered call for .40. Sold for 1.50 last Friday.
Sold Sept 28th 124 call for 1.65.
NVDA Supercharger
#SuperCharger I was looking at a #Lophir but wasn’t liking the margin requirement R/R. This trade is a better fit.
Bought to open $SPX Oct 26th 247.5/257.5 bull call spreads for 7.30. Profit target: 9.40.
Interesting chart
I think it shows stock market performance is fairly unpredictable based on Washington’s makeup.
OK, but can it hit both in the same week?
Futures Up Modestly
$SPY is down due to ex-div
VIX can’t shake off the fear
#VIXIndicator We spent the morning in Upside Warning territory, but despite a steadily rising SPX all day, the VIX also rose steadily then ended up closing higher on the day.
MU earnings
Covered Calls
#CoveredCallCampaign
Sold $AAPL Oct 12th 227.5 covered call for 2.13
Sold $FB Oct 12th 172.5 covered call for 1.20
BTC $OLED Sep 21st 114 put for .15. Sold for 1.50 last Friday
PVTL owner
#Earnings #Assignment While waiting for $PVTL 22.5 puts to hopefully expire, I got assigned last night. At least it is cheap. No weeklies, and options premium is weak, so I will hopefully catch a bounce and sell it.
Ripping
We awake to a ripping rally and lowest VIX since early August.
TLRY puts
#Scary Sold $TLRY Sept 21st 150 puts for 1.85. One put in each of two retirement accounts.
VXX short stock
#VXXGame Waited a long time for this… Bought to cover 10 shares of $VXX shares for 26.95. Was early assigned 100 short shares on Feb 12th via a 27 short call. I will scale out as it moves down.
TLRY madness
Look at the Oct 19th ATM options.
240 call: 50.00
240 put: 105.00
I know puts usually are more than calls, but that’s quite a difference! Sell a straddle and your profit range at expiration would be 85.00-395.00
BABA covered call
#CoveredCallCampaign Nice to see some strength in this one, but worried it’s a dead cat.
Sold $BABA Oct 5th 170 covered call for 1.55.
TSLA should build rollercoasters
BREAKING: Tesla share sharply drop on report that the company is facing a U.S. criminal over Musk's statements https://t.co/2c272KfMhC pic.twitter.com/3qqWxjXdPh
— CNBC Now (@CNBCnow) September 18, 2018
FDX puts sold
#Earnings Post-earnings pullback: Selling at the 200 dma on a bullish trend;
Sold $FDX Oct 12th 240 puts for 2.90
Futures fading from highs
BREAKING: China retaliates against Trump’s new tariffs with its own 5%-10% tariffs on $60B of goods http://cnbc.com/id/105455033
Options Bistro 