#OptionsExpiration #SPXcampaign #Earnings #ShortStrangles
— Expiring w/Max Profit —
$SPX 2690/2665 put spreads, sold for 5.45 on Feb 15th
$STMP 150/230 strangles, sold Wednesday for 2.30
— Expiring w/full loss —
$SPX 2425/2400 LONG put spreads, bought for 3.00 and 1.50 on Feb 9 and 12.
#VIXIndicator This is the first day we closed below the VIX Fib 78.6% line. Two more consecutive days will mean an Upside Warning.
#SPXcampaign Sold $SPX Mar 2nd 2725/2700 put spreads for 5.20.
All my recently assigned stock position up: AAPL, BABA, VRTX, FB. And of course, SVXY.
Also, AZO earnings on Tuesday morning…. now with weeklys!
#SPXcampaign Sold to Open $SPX March 23rd 2845/2870 call spreads for 1.55.
#ITMroll Closed March 2nd 2800/2775 put spreads for 23.60. Sold for 23.80 on 2/14.
Sold March 9th 2800/2775 put spreads for 19.70.
Closed on GTC order: March 15th 2400/2375 put spreads for .20. Sold for 1.60 on Feb 13th.
Stopped Feb 28th 2750/2775 call spreads for 6.50. Sold yesterday for 4.45.
Cancellation of the Downside Warning looking likely. This could mean Upside Warning as early as Tuesday.
This is the time of the day where I post that it looks like we’ll be cancelling the Downside Warning today, but then immediately after that post, S&P drops a bit and the VIX quickly frightens itself higher.
#Earnings #ShortPuts #ShortStrangles #StrangleRoll
Yesterday, sold $OLED Feb 23rd 140 puts for 2.15 and 2.25. In what was clearly an error by the trading Gods, the stock went down rather than up. So I’m rolling into a tight strangle because I know exactly where this stock will be on March 16th.
BTC OLED Feb 23rd 140 puts for 10.40.
STO OLEN March 16th 135/140 strangles for 12.85
#SPXcampaign Sold $SPX March 23rd 2530/2505 put spreads for 1.60.
#CoveredCalls #CoveredCallCampaign
On Wednesday, BTC $BABA March 9th 192.5 call for 5.05. Sold for 1.86 on Feb 12th
Sold BABA March 16th 177.5 put for 1.35
Today: Sold BABA March 23rd 207.5 call for 1.50.
#Earnings Sold $OLED Feb 23rd 140 puts for 2.15. Biggest UP move: 23.9%, Biggest DOWN move: -11.5%, Average move: 9.6%. Bias: +3.7%. My strike is -9.1% OTM.
Never traded this one before, but it has a nice upside bias. The -11.5% move in Feb 2016 was its biggest ever move down. Last Feb it went up 20%.
I will sell more if stock drops a bit.
#SPXcampaign Sold $SPX Feb 28th 2750/2775 call spreads for 4.45. Offset Feb 28th put spreads sold yesterday.
#SPXcampaign Sold $SPX Feb 28th 2675/2650 put spreads for 3.80.
#Earnings Got put the stock last quarter so was going to skip it, but then saw @fuzzballl‘s trade and couldn’t resist. Going 10-pts lower than he did.
Sold $STMP Feb 23rd 150/230 #ShortStrangles for 2.30.
Biggest UP move: 38.1%, Biggest DOWN move: -22.6%, Average move: 17.1%. My strikes are +23.0% and -19.8% OTM.
#SPXcampaign In pre-market, closed on GTC order:
$SPX Feb 23rd 2775/2800 call spreads for .45. Sold for 5.70 on Feb 6th.
Sold on the post-Fed spike: SPX March 23rd 2860/2885 call spreads for 1.75
Lowest VIX reading since the correction and on track to have Downside Warning canceled today…. UNLESS, we get another round of selling, which might spike VIX right back above 18. 2 hours to go…
#SPXcampaign Heartbreaking… these were trading for 1.50 a couple hours ago… but had to step away and I lost them.
Closed $SPX Feb 20th 2725 puts for 14.60. Sold in the 2700/2725/2765/2790 condor on Friday.
I will get some credit back by selling the 2700 long puts…
#CoveredCalls #CoveredCallCampaign
Sold $AAPL March 16th 180 call for 1.70
Sold $AAPL March 9th 170 put for 1.72
Closed on GTC order: $VRTX March 2nd 177.5 covered call for .15. Sold for 1.75 on Feb 6th.
Sold VRTX March 23rd 177.5 call for 1.60
#SPXcampaign Sold to Open $SPX March 23rd 2525/2500 put spreads for 1.70.
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated
#OptionsExpiration #VXXGame
Only one #Assignment, my final $SVXY 90 put
#VIXIndicator — The VIX is reacting strongly to the upside at any sign of volatility. Although we spent the morning in cancelation territory, the Mueller spike sent up back above 19.00. So although we’ve been steadily rising, volatility is still hanging around.
#contangoetfs
Closed on GTC orders:
$KOLD Feb 16th 50 call for .05. Sold for 2.95 on Oct 5th.
$NUGT Mar 16th 44 calls. Sold for 1.50 and 1.22 in January.
#SPXcampaign When SPX got up to 2748 I closed this spread to take some profits…
Closed $SPX Feb 21st 2700/2675 put spreads for 1.75. Sold for 14.00 on Monday.
https://www.reuters.com/article/us-usa-stocks-volatility/u-s-stock-volatility-shock-wanes-vix-futures-signal-smoother-sailing-idUSKCN1FZ2I2
#SPXcampaign Stopped $SPX March 15th 2815/2840 call spreads for 4.30. Sold on Monday for 1.75.
#CondorRoll Sold Feb 20th 2700/2725/2760/2785 condors for 8.05. Aggressive strikes expiring Tuesday, which is our next trading day due to the holiday Monday.
#SPXcampaign Closed $SPX March 9th 2810/2835 call spreads for 3.40. Sold for 1.50 last Thursday. Holding off on roll for now.
#Earnings BTC $SHOP Feb 16th 117/149 #ShortStrangles for .10. Sold yesterday for 1.85.
#SPXcampaign Sold $SPX March 15th 2850/2875 call spreads for 1.60.
I suppose I’ll keep selling the call side until we get the upside warning. But it looks like its already time to roll the spread I sold on Monday.
#VXXGame I forgot I had even sold a $VXX Feb 23rd 27 call for 6.00 on Feb 2nd. But I did and I was early assigned on Monday night, so I’m short 100 shares. I will hold that.
As for $SVXY, the only short put they’ve left me with was the Feb 16th 90 put. I guess waiting for assignment on schedule rather than early. I also have a Jan 2019 25 put which I don’t expect assignment on anytime soon.
#VIXIndicator, well we never got the Downside Warning cancellation…. 2700 seems like a good place to pause as traders still wary after the tumult. I remain bullish for now, but we’ll see what the afternoon brings.
Sold $SPX March 15th 2500/2475 put spreads for 1.60.
#SPXcampaign Closed on GTC order: $SPX March 9th 2300/2275 put spreads for .20. Sold on Feb 5th for 1.80. Got above 4.00 on Feb 6th…. that’s past my usual roll stop but it was just too far OTM to worry about.
STOPPED Feb 21st 2750/2775 call spreads for 3.50. Sold for 4.35 in a #CondorRoll last Thursday.
#ReverseRoll Sold Feb 23rd 2690/2665 put spreads for 5.45.
#CoveredCalls #CoveredCallCampaigns Owning stock during a face-ripping rally is great! Covered Calls, not so much.
BTC $AAPL Mar 9th 170 call for 4.90. Sold for 1.23 on Monday. Will be back to sell calls, and probably some puts, too.
#SPXcampaign On Feb 2nd I sold an ITM put spread in anticipation of the correction ending.
Sold $SPX Feb 23rd 2825/2800 put spreads for 16.90, when SPX was at 2761.
Feb 23 was too ambitious… this was a short correction but even so, should have gone to March. But I fully expected this possibility. I rolled in two steps this time. I put in GTC orders and adjusted prices slowly.
Sold SPX March 2nd 2800/2775 put spreads for 23.80. This filled yesterday during the morning gap down.
Closed Feb 23rd 2825/2800 put spreads for 24.00. This filled early this morning in pre-market.
So I was able to move the spread 25 points lower for only a .20 debit.
Since I paid only 1.00 less than the 25.00 cost to let the Feb 23 spread expire fully ITM, it was also possible to leave it in case we actually rally above 2800 by next Friday. I doubt that will happen, but it could!
#Earnings #ShortStrangles Lucky we got a pullback on earnings… the steady tick higher had me sweating the 149 calls, but they and the 117 puts look much better now.
#VXXGame Added to existing long put positions:
Bought $VXX June 25 puts for .70
Bought $VXX Jan 2019 20 puts for 1.70
Bought $VXX June 30 put for 1.95
Also, sold $UVXY Jan long 75 put for 3.40. Purchased for 1.59 in January as a pre-hedge against short calls sold in February.
#CoveredCalls #CoveredCallCampaign
Sold $FB Mar 9th 187.5 call for 1.45.
I now have this campaign going for FB, $AAPL, and $BABA. I also have $VRTX but I plan to sell that stock once it gets to 170.00 area.
#SPXcampaign Bought to close $SPX March 9th 2200/2175 put spreads for .20. Sold for 1.90 on Feb 6th when it was 440 points OTM.
#Earnings Classic earnings strangle just outside historic moves.
Sold $SHOP Feb 16th 117/149 #ShortStrangles for 1.85. Biggest UP move: 11.6%, Biggest DOWN move: -9.0%, Average move: 7.2%. My strikes are +/- 12% OTM
The Downside Warning is not officially over until VIX closes below 17.76. But the drop its having this morning, even when the market gapped down, tells me the market is going higher. This morning’s futures drop was a chance for bears to retake control but looking like they barely had a chance.
#SPXcampaign On this dip I doubled my size on $SPX March 16th 2840/2860 long call spread for .80.
On news they hired Taco Bell CEO
#SPXcampaign Earlier, closed Feb 23rd 2690/2715 call spreads for 7.00. Sold for 4.05 on Friday.
#ReverseRoll Just now, sold March 2nd 2625/2600 put spreads for 5.75
#VXXGame Bought $VXX Jan 2019 20 puts for 1.75. Added to my position started in September at the average price of the position. I put in this order last week when things were crazy and it just filled now.
#SPXcampaign Sold $SPX March 15th (monthlys) 2400/2375 put spreads for 1.60.
https://seekingalpha.com/article/4145659-time-short-vix?auth_param=bf3bv:1d83egb:9d077ee3a9d04c2fe782d0a4c6d608d5&uprof=37&utoken=5b32faa14fc320dfd5f3f44880808118
#SPXcampaign Closed $SPX Feb 16th 2650/2675 call spreads for 13.80. Sold on Friday for 6.20.
#ReverseRoll Sold $SPX Feb 21st 2700/2675 put spreads for 14.00.
#Market #SPXcampaign This recent click higher and corresponding dip in the VIX signals to me this market is going up. Still not close to confirmation on the VIXIndicator but I’m going to start reversing some positions in SPX.
#SPXcampaign I didn’t post a couple trades Friday… here are long put trades Friday and today…
Friday:
Sold to CLOSE $SPX Feb 16th 2600/2580 put spreads for 8.00. Bought for 1.80 on Wednesday.
Bought to open Feb 23rd 2425/2400 put spreads for 3.00.
Today:
Doubled my size of the Feb 23rd 2425/2400 puts for 1.50.
#CoveredCalls #CoveredCallCampaign
Sold $AAPL Mar 9th 170 call for 1.23
Sold $BABA Mar 9th 192.5 call for 1.86
Premium much better in BABA than AAPL.
#SPXcampaign Sold $SPX March 15th (monthlys) 2815/2840 call spreads for 1.75.
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated
https://www.bloomberg.com/news/articles/2018-02-09/vix-surge-hands-8-600-profit-to-a-tiny-hedge-fund-in-colorado
#Market One thing about corrections is they can also include face-ripping rallies. This is a huge gap up… the market did what it does best on Friday… shook me out of put spreads which would be doing excellently today had I not ditched them. VIX not dropping too sharply yet, but I’ll be watching what it does during market hours. I have a couple of call spreads in trouble… not sure yet if I should forward roll or reverse roll.
Here are all 36 10% corrections since 1980. Note: a year after the lows, stocks are up a median of 23% and two years later up 36%.
I can’t find the story on Bloomberg but just received this link in an email from Seeking Alpha:
https://seekingalpha.com/news/3329965-fidelity-bars-purchases-inverse-vix-etf?uprof=37#email_link
#SPXcampaign Got caught in the down flush… these all could have been closed much better if I’d waited for the bounce.
In chronological order:
Sold Feb 16th 2650/2675 call spreads for 6.20
Stopped Feb 23rd 2450/2425 put spreads for 3.70. Sold for 2.00 yesterday.
Stopped Feb 12th 2550/2525 put spreads for 7.00. Sold for 3.75 on Tuesday.
Stopped Feb 9th 2565/2540 put spreads for 6.60. Sold for 2.20 yesterday.
Sold Feb 23rd 2690/2715 call spreads for 4.05.
Closed on GTC order: Feb 12th 2700/2725 call spreads for .40. Sold for 4.10 yesterday.
Stopped Feb 21st 2450/2425 put spreads for 3.65. Sold in #CondorRoll for 4.35 yesterday.
The only two put spreads I have remaining are the March 9th with short at 2300 and 2200. That’s likely all I will hold over the weekend, as we could have a Margin-Call Monday with a big gap down.
#SPXcampaign Not a great morning on my SPX trades. Closed most put spreads near the lows. I think we have lower to go but i could have managed it much better. I will detail later.
#ContangoETFs Sold $DUST Jan 2019 45 call for 4.80.
#VXXGame Added to a position I started in September:
Bought $VXX June 25 puts for 1.25.
Jim Cramer had a 9-minute diatribe this morning about UVXY, XIV, etc. First 10 minutes of Squawk on the Street if you can find it archived later. He stopped short of calling for the SEC to look into closing such products, but said if they were to do that, the market would bottom. He believes the selling of stock has been driven by traders liquidating to cover margin calls in volatility products.
Not on Dow or RUT
#SPXcampaign Caught this flush with a short call spread.
Sold to Open $SPX Feb 9th 2630/2655 call spreads for 11.15 at 2:57 ET.
Bought to close for 6.00 at 3:54 ET
#SPXcampaign Pulled the plug on this one with the intention to roll later. I feel like we need to test this week’s lows again before we can assume correction is over.
Closed $SPX Mar 9th 2630/2605 put spreads for 9.00. Sold as a 1.5x roll for 2.00 last Friday.
#VXXGame Sold $UVXY Jan 2019 70 call for 9.60. I still have more long calls than short, so it’s not costly for me to add slowly.
#VXXGame Sold to Close $SVXY June 110 long put for 99.25. Originally sold in the 150/110 put spread for 18.40 on Jan 5th. That leaves my highest SVXY naked put (150) ready for assignment. Cost basis on assignment for this one alone would be 32.35. Not so bad, but also not taking into account the rest of my puts that didn’t have the benefit of spreads.
#SPXcampaign High $TICK readings of the day… the lows could be in.
Sold to OPEN $SPX Feb 9th 2565/2540 put spreads for 2.20. Expire tomorrow, 70 points OTM.
Sold to CLOSE $SPX Feb 9th 2590/2570 put spreads for 2.75. Bought for 4.25 on Tuesday. Was riding the limit price on this one at the lows, but liquidated once I saw new TICK highs; loss is covered by the one I sold above.
Earlier: Sold to Open $SPX Feb 23rd 2450/2425 put spreads for 2.00.
Closed on GTC order: Feb 9th 2740/2765 call spreads for .25. Sold for 6.20 on Tuesday.
“Traders who continue to play the short-vol game with SVXY must read this.”
https://seekingalpha.com/article/4144576-xiv-dies-warning-svxy
#SPXcampaign Sold $SPX Feb 21st 2425/2450/2750/2775 #CondorRoll for 4.35, as a roll from the Feb 9th put spreads stopped earlier.
#SPXcampaign Bought to close $SPX Feb 9th 2625/2600 put spreads for 4.25. Sold in a #CondorRoll for 4.25 on Monday. Will look to roll later today. Couldn’t risk a precipitous drop into tomorrow’s close.
FB, BABA, GOOGL, NFLX, AMZN, following market.
AAPL not caring, although still a crappy daily chart.
#Earnings Closed $TSLA Feb 9th 310 puts for .55. In #ShortStrangles for 3.15, out for .65.
#VXXGame Sold long $VXX stock for 49.82. Assigned via 42 puts on Oct 13th.
#SPXcampaign Sold $SPX Feb 12th 2700/2725 call spreads for 4.10.
Working on stopping out of tomorrow’s 2625/2600 put spreads. Probably on this bounce.
#SPXcampaign Closed on GTC order: $SPX 2790/2815 call spreads for .30. Sold for 3.55 on Monday.
Market’s looking pretty weak.
#Earnings Closed $TSLA Feb 9th 372.5 call for .10. Order in to close put for the same. #ShortStrangles sold yesterday for 3.15. I would normally let these expire but not in the volatile market.
Boom
