#OptionsExpiration #Earnings #CoveredCalls #BullPutSpreads
Would have been a much happier Friday if I hadn’t gotten shaken out of an expiring put spread at the lows of the day.
— Expiring —
FB 140 covered call
ULTA 255/245 put spreads
UVXY 28 calls
I will be posting SPX trades and updated chart later
#SPXcampaign Bought to close $SPX March 24th 2435/2460 call spreads for .20. Sold for 1.30 on Feb 23rd.
Bought to close SPX March 10th 2365 calls for 2.00. Sold as the 2365/2340 put spread for 2.90 on March 1st… this one sucked, as it could have been closed cheaply this morning. Damn me and my predilection for expiring options!
Sold to Open SPX March 31st 2400/2425 call spreads for 4.40. Partial roll of the put spread I closed yesterday for 98.75
Sold to Open SPX April 7th 2430/2455 call spreads for 1.55.
#Earnings #ShortCalls #Underwater
Sold to open $PANW March 31st 125 call for 1.00
Sold to open $PANW April 21st 130 call for .80
I put in these prices based on the early pop to 116, and that clearly was too soon, as the stock made it above 119. These are against my April 135 puts which were rolled after the earnings miss.
+235,000 non-farm jobs added in February, down 3,000 from January revised number
4.7% unemployment, down .1%
9.2% U6 unemployment, down .1%
63.0% labor force participation, up .1%
0.2% wage growth; January’s growth was 0.1%
Ended up positive on SPX despite notching a 3-week intraday low. VIX showed some life, but still nothing scary. Goldman Sachs has said that people are tired of buying protection after so many years of the market going up, so put prices are not going up.
#SPXcampaign Stopped: Closed $SPX March 16th 2370/2345 put spreads for 8.75. Since I have 3 put spreads slightly ITM, I needed to close one to ease the risk going into tomorrow’s Job’s report. Will look to roll based on the market’s reaction.
This is an hourly chart… John Carter was showing this earlier. It looked like we might break above it this morning, but it failed.
VIX finally moving a bit, hitting highest level since March 2nd, but still not very impressive.
#SPXcampaign Sold to Open $SPX April 7th 2255/2230 put spreads for 1.35, with SPX at 2360.
Bought to close SPX March 20th 2430/2455 call spreads for .20. Sold at part of a condor for 9.55 on March 1st. The put side has the short at 2370, so I will treat this as an ITM spread for rolling (first time I’ve done that with puts). Currently trying to exit the March 16th put spread with the same short so I won’t have to deal with two ITM.
#Earnings Sold to Open $ULTA March 10th 255/245 put spreads for 1.15. Over last 12 earnings, Biggest UP move: 17.9%, Biggest DOWN move: -6.1%, Average move: 7.9%. This trade is -7.3% OTM.
#SPXcampaign
Bought to close $SPX March 31st 2465/2490 call spreads for .20. Sold as part of a #CondorRoll for 4.60 on March 1st.
#ITMroll Bought to close SPX March 15th 2325/2350 call spreads for 21.50. Sold on March 1st for 22.00.
Sold to Open SPX March 22nd 2345/2370 for 15.50, with 1.5x position size. I’m margin-weighted toward the short put side, so selling extra calls helps. So I increased size on this one which allowed me to move up 20 points. I also added:
Sold to Open $SPX March 16th (monthly) 2390/2415 call spreads for 2.50.
My positions have come closer in to the point that my portfolio resembles one giant iron butterfly on the market. If we can consolidate here for two weeks, it would be brilliant. More likelyI will have to adjust one way or the other.
On NYSE Tick, think or swim
#Earnings Bought to close $PLCE March 17th 95 puts for .05. Sold yesterday as the 95/90 put spreads for 1.10. Kept its recent trend of positive earnings results…. easy peasy.
A weaker day and uglier close for the SPX, but still an anemic VIX with a lower higher and only a slightly higher close than yesterday.
#SPXcampaign Bought to close $SPX March 31st 2470/2495 call spreads for .20. Sold for 1.40 last Wednesday.
Bought to close SPX March 24th 2450/2475 call spreads for .20 (only half of position closed). Sold as part of a #CondorRoll for 5.35 last Wednesday.
#Earnings Sold to Open $PLCE March 17th 95/90 put spreads for 1.10. Over last 12 earnings, PLCE has been negative only ONCE eight days after the report. 8-day moves: Biggest UP move: 20.0%, Biggest DOWN move: -6.1%, Average move: 7.4%. This trade is 4.7% OTM.
Going with a spread since I’m not feeling like being naked after the PANW burn last week.
#SPXcampaign Here are the trades I made earlier…
Sold to Open March 20th 2320/2295 put spreads for 1.60, to make up for the debit from #ATMroll made on Friday.
Sold to Open March 31st 2420/2445 call spreads for 2.65, to make up for the debit from #ITMroll made yesterday.
Sold to Open April 7th 2450/2475 call spreads for 1.40, when SPX hit 2375. Standard weekly trade.
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#SPXcampaign Sold to Open $SPXPM March 17th 2410/2435 call spreads for 1.60. This is a roll for the call spread exited for 1.50 on Friday.
#ITMroll Bought to close $SPX March 13th 2325/2350 call spreads for 22.75. Sold for 2o.55 last Monday.
Sold to Open $SPX March 20th 2335/2360 call spreads for 20.25. Will roll the remaining 2.50 debit in coming days.
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#SPXcampaign Before the open, bought to close $SPXPM March 17th 2450/2475 call spreads for .20. Sold as part of #CondorRoll for 4.80 last Wednesday.
Sold to Open $SPX April 7th 2265/2240 put spreads for 1.40, with SPX at 2369.
Jobs Report on Friday
#OptionsExpiration #VXXGame #shortcalls
only one this week:
UVXY 26 calls
#SPXcampaign
#ITMrolls
Bought to close SPX March 10th 2360/2385 call spreads for 15.00
Sold to Open SPX March 24th 2370/2395 call spreads for 13.65
Bought to close SPX March 10th 2330/2355 call spreads for 23.00
Sold to Open SPXPM March 17th 2340/2365 call spreads for 20.00
I will add some additional smaller spreads on Monday to make up for the debits.
Also closed: SPX March 8th 2395/2420 call spreads for 1.50. Sold for 8.60 on Wednesday. This one is quite profitable in two days, but is exactly the type of spread that will go right back to even if we rally next week. 1.50 is much easier to roll than 8.50.
Finally,
BTC SPX March 16th 2255/2230 put spreads for .20. Sold for 1.45 on Feb 17th.
BTC SPX March 10th 2320/2295 put spreads for .20. Sold as part of #CondorRoll for 3.90 on Feb 22nd.
#Earnings #ShortPuts #Rolling
BTC $PANW March 3rd for 19.70
STO $PANW April 21st 135 put for 20.00
A non-dynamic roll. Will sell some calls against this when it rallies.
#SPXcampaign Bought to close $SPX March 8th 2320/2295 put spreads for .15. Sold for 2.30 on Feb 22nd.
VIX plunges again this morning, even with market showing some weakness.
VIX was up with a huge up day on Wednesday. Then, today was the biggest down day in a month for SPX, and VIX was down too. It is bizarro world.
Invert the SPX chart, and yesterday’s spike down looks like capitulation selling. Could we have seen capitulation buying? Was that all of the shorts finally throwing in the towel, thus marking a top?
#SPXcampaign STOPPED: Bought to close $SPXPM March 17th 2420/2445 call spreads for 4.25. Sold as part of a #CondorRoll for 4.20 on Feb 23rd. Will roll once I see the next strong move up or down.
Sold to Open $SPX March 31st 2285/2260 put spreads for 1.35, with SPX at 2388.
#Earnings BTC $BBY March 3rd 42 puts for .05. Sold Tuesday for .97 and 1.00.
#SPXcampaign Too many trades and rolls yesterday to post. Let me know if you have questions on any of my or your positions.
The Webinar on this campaign has been delayed as I refine the strategy based on recent experience with extremely bullish markets. Yesterday was more evidence that work is needed!
#Earnings Bought to close $CBI March 3rd 32 puts for .05. Sold yesterday for .40 and .45.
#SPXcampaign STOPPED, bought to close $SPX March 16th 2415/2440 call spreads for 5.30. Sold as part of a #CondorRoll for 4.45 on Feb 15th.
#CondorRoll: Sold SPX March 24th 2315/2340/2450/2475 condors for 5.35.
Bought to close March 16th 2220/2195 put spreads for .20. Sold for 1.30 on Feb 14th.
I will be traveling to Boston, Providence, NYC, and Milwaukee from April 12-25. Anyone in or near these cities want to meet up for a Bistro-confab?
#SPXcampaign Bought to close $SPX March 24th 2430/2455 call spreads for 4.40. Sold for 1.45 on Feb 21st.
#CondorRoll Sold to Open SPX March 31st 2295/2320/2465/2490 condors for 4.60.
#SPXcampaign Bought to close $SPX March 6th 2315/2290 put spreads for .20. Sold for 2.00 on Feb 21st.
Sold to Open SPX March 31st 2470/2495 call spreads for 1.40.
More call spread stops happening today.
#Earnings Closed both legs of the strangle for .05 each. $DLTR March 3rd 69.5/87 sold yesterday for .95
BBY bobbing around my 42 puts
CBI holding above my 32 puts
PANW – ugh – first big earnings-trade miss of the quarter.
#SPXcampaign In pre-market, bought to close $SPX March 1st 2340/2315 put spreads for .20. Sold as part of a #CondorRoll for 4.10 on 2/21.
Long overdue update to the SPX Chart… congrats if you can decipher all of the roll-arrows.
The VIX hit highest high since 1/31 and highest low since 1/19.
#SPXcampaign Bought to close $SPX Feb 28th 2365 short calls for .55, with SPX at 2361 and 96 minutes left to trade. Since the market has been rallying at day’s end quite often, using this dip to get out cheaply. Sold as the 2365/2390 spread on Feb 14th for 2.05.
Lowest NYSE $TICK since Jan 19th.
#Earnings Sold to Open $DLTR March 3rd 69.5/87 strangles for .95.
THREE-DAY moves: Biggest UP move: 13.5%, Biggest DOWN move: -12.1%, Average move: 6.3%. Bias: +1.8%. These strikes are -9.6% and +13.1%. Slightly bullish.
#Earnings Sold to Open $BBY March 3rd 42 puts for .97. THREE-DAY moves: Biggest UP move: 22.3%, Biggest DOWN move: -3.2%, Average move: 7.0%. This strike is -5.7%. Bullish position. BBY has solidly positive bias on earnings reports.
#Earnings Sold to Open $PANW March 3rd 135/170 strangles for 1.35. Biggest UP move: 10.6%, Biggest DOWN move: -13.2%, Average move: 7.0%. These strikes are +11.2% and -11.7% OTM.
#Earnings Sold $CBI March 3rd 32 puts for .40. Biggest UP move: 15.6%, Biggest DOWN move: -9.2%, Average move: 6.3%. This trade is -5.5% OTM. Not a big mover, and with an upside bias at earnings.
The CBOE is where I first learned a lot of my initial options education. They have many archived webinars and also frequent free live ones, like this one tomorrow. Follow this link to register: http://www.cboe.com/education/webcasts
#SPXcampaign #ITMroll
Bought to close $SPX March 6th 2315/2340 call spreads for 23.40. Sold for 21.40 last Tuesday.
Sold to Open $SPX March 3rd 2325/2350 put spreads for 2.50 about 40 minutes before bell.
Sold to Open $SPX March 13th 2325/2350 call spreads for 20.55 about 10 minutes after the bell.
Was able to move up 10 points again, but wasn’t able to time the swings, so I have a .20 debit on this roll. That’s fine, since I have had credits on all previous rolls on this trade. Also I sold the put spread for this Friday so it won’t be in the way if we start a multi-week decline.
#SPXcampaign These trades in the first hour:
Bought to close $SPX Feb 27th 2375/2400 call spreads for .20. Sold as part of a #CondorRoll on Feb 15th for 2.85.
Sold to Open $SPX March 31st 2250/2225 put spreads for 1.35, when SPX was at 2363.
Clinging on to Feb 28th 2365/2390 call spread.. Hoping for expiry worthless or at least cheaply.
#Earnings The two high fliers on the same day… going for AZO March 17th 680/780 strangle, for around 4.00 (no fill yet).
PCLN not as sure… heavy margin required and this one can move a lot more than AZO. Ideas, anyone?
#OptionsExpiration #Earnings #ShortStrangles
All I got this week is one. Good couple of weeks for earnings trades!
–Expiring–
DISH Feb 24th 60/67 strangles, sold for .90 on Tuesday.
#SPXcampaign $SPX
These spreads closed today:
SPX March 3rd 2275/2250 puts for .20. Sold in a condor for 3.00 on Feb 13th
SPX March 1st 2395/2420 calls for .20. Sold in a condor for 4.10 on Tuesday.
SPX Feb 28th 2325/2300 puts for .20. Sold for 3.00 last Friday.
SPX March 10th 2225/2200 puts for .20. Sold for 1.50 on March 10th.
This one was rolled; rolled into two call spreads rather than a condor.
#ITMroll Bought to close SPX March 3rd 2350/2375 call spreads for 13.40. Sold for 1.50 on Feb 3rd.
Sold to Open March 10th 2360/2385 call spreads for 11.50
Sold to Open March 1st 2380/2405 call spreads for 2.15
#Earnings Bought to close $MELI March 17th 180 puts for .50. Sold for 2.00 yesterday.
Also,
Sold to close $FB stock for 135.21. This is one-fourth of my position of my 13-month earnings trade. Cost basis 132.88 on this lot.
#Earnings #IronButterfly #Leftovers
Yesterday I closed my $W iron butterfly with a nice profit. I only closed the short 40 calls and puts, as the long 35 puts and long 45 calls had no activity.
BUT, I did put in GTC orders to sell the longs at .05. This morning, with the stock hitting a low of 37.45, the put side filled. So I got an extra $15.00 on the trade… this one happened to execute with only 4 cents of commission, but many brokers charge no commission for 5-cent closings, and even if I was charged $4 (which would be my broker’s max commission on a 3-lot) it is still worth extra the $11 in profit.
#SPXcampaign Sold to Open $SPX March 24th 2435/2460 call spreads for 1.30, right before the bell with SPX at 2363.
#Earnings On Jan 26th, sold SBUX Jan 27th 58/60/62 #IronButterfly for 1.49, 6-lot. Next day, stock gapped down outside my profit zone, so I sold the long 58 puts for 1.83 and took assignment of the stock from the 60 puts. Waited out the stock’s dip down to 53.81, then sold stock on the rise up. Max profit possible was $866 (if it had pinned at 60 on 1/27); Final profit: $240.
#Earnings Yesterday, sold $W Feb 24th 35/40/45 #IronButterfly for 3.50
Today, bought to close 40 short calls for .35
bought one short put for 1.25,
bought the second short put at 1.00
bought the last one for .50.
Three-lot trade, total profit $670.00
#SPXcampaign Sold to Open $SPXPM March 17th 2275/2300/2420/2445 iron condors for 4.20, as a #CondorRoll from call spread stopped yesterday for 3.85.
#Earnings #ShortStrangles BTC TSLA Feb 24th 250/310 strangles for .64. Sold yesterday for 1.94.
Open at all-time high then close lower… could be Bearish Engulfing, but even if not, may be the sign of a reversal, correction, or at least consolidation phase.
#VXXGames #ShortPuts #ShortCalls
STO SVXY June 75 put for 3.40
STO UVXY March 10th call for .75
#Earnings #ShortPuts Sold to Open $MELI March 17th 180 puts for 2.00. A normally positive mover on earnings. Biggest UP move: 18.2%, Biggest DOWN move: -8.3%, Average move: 7.3%. This trade is -9.3% OTM.
#SPXcampaign For the ITM March 1st spread I closed this morning, sold these spreads separately to complete a #CondorRoll
Sold to Open $SPX March 8th 2315/2340 call spreads for 21.75
Sold to Open $SPX March 8th 2320/2295 put spreads for 2.20
http://www.cnbc.com/2017/02/22/fed-minutes-trump-policies-could-lead-to-rate-hike-fairly-soon.html
#VXXGame #ShortPuts #ShortCalls
Decided to finally throw on some short volatility trades to offset my annoying SVXY short calls. These trades were made yesterday but I forgot to post:
STO UVXY March 3rd 26 calls for .50
STO UVXY March 17th 32 calls for .73
STO SVXY March 17th 100 put for 1.35
STO SVXY March 17th 110 put for 2.53
#Earnings Not one I have traded before but fairly fat options prices to give a 1-to-2.33 risk/reward on an #IronButterfly. It can have fairly sizable moves so probability is low while reward is high.
Sold to Open $W Feb 24th 35/40/45 iron butterfly for 3.50. Over last 12 earnings, Biggest UP move: 28.2%, Biggest DOWN move: -19.6%, Average move: 13.3%.
#Earnings #ShortStrangles Sold to Open $TSLA Feb 24th 250/310 strangles for 1.94. Slightly bullish positioning. Over last 12 earnings, Biggest UP move: 11.2%, Biggest DOWN move: -11.3%, Average move: 5.7%. These strikes are -8.8% and +13.1% OTM.
#Earnings #StockTrades #CoveredCalls #Rolling
BTC FB Feb 24th 140 covered call for .04. Sold for 1.07 on Jan 13th.
STO FB Mar 31st 140 c0vered call for 1.40.
#SPXcampaign Sold to Open $SPX March 24th 2255/2230 put spreads for 1.35, with SPX at 2361.
#CondorRoll Sold to Open SPX March 10th 2295/2320/2415/2440 condors for 3.90. This is a roll from calls stopped yesterday after the bell for 3.75.
#ITMroll Bought to close SPX March 1st 2305/2330 call spreads for 22.90. Sold for 21.00 last Wednesday. Will roll into March 8th 2315/2340 later when SPX goes higher.
Stopped: Bought to close SPX March 3rd 2380/2405 call spreads for 3.85. Sold as part of a #CondorRoll for 3.00 on Feb 13th. Will look for a roll later today.
#StockTrades #Earnings I am long stock from my year-long earnings trade.
#SPXcampaign This order filled at 14 minutes after the close, so I will roll tomorrow:
Bought to close $SPX March 16th 2400/2425 call spreads for 3.75. Sold as part of a #CondorRoll for 2.80 on Feb 13th.
#SPXcampaign Bought to close $SPX Feb 24th 2365/2390 call spreads for 5.70. Sold for 1.35 on Jan 26th.
Sold to Open SPX March 1st 2315/2340/2395/2420 iron condors for 4.10, 1.5x position size.
Another annoying one to have stopped, since it was down around .45 when the current up trend started. But getting used to it!
#Earnings #ShortStrangles With a slightly bullish positioning, since stock is in uptrend and bullish trades working well in this market.
Sold to Open $DISH Feb 24th 60/67 strangles for .90. FIVE-DAY moves over last 12 earnings reports: Biggest UP move: 5.2%, Biggest DOWN move: -2.7%, Average move: 1.6%. These strikes are -4.9% and +6.2% OTM.
#SPXcampaign Bought to close $SPX Feb 28th 2305/2330 call spreads for 23.30. Sold for 16.50 last Tuesday.
#CondorRoll …or actually an Iron Butterfly… Each leg sold separately on ups/downs of the morning:
Sold to Open SPX March 6th 2315/2340 call spreads for 21.40
Sold to Open SPX March 6th 2315/2290 put spreads for 2.00
In other news:
Bought to close SPX Feb 27th 2300/2275 put spreads for .20. Sold as part of a #CondorRoll for 2.85 last Wednesday (call side is threatened but not stopped yet)
Bought to close SPX March 10th 2190/2165 put spreads for .20. Sold for 1.50 on Feb 6th.
#SPXcampaign Sold to Open $SPX March 24th 2430/2455 call spreads for 1.45, with SPX hitting new all-time highs.
Bought to close SPX Feb 24th 2300/2275 put spreads for .20. Sold for 2.85 on Feb 13th.
This calendar is always quickly accessible in the menu at the top of the site (upper right).
#OptionsExpiration #Earnings #CoveredCalls #ShortStrangles #BullPutSpreads
— Expiring w/Max Profit —
ALK 95/90 put spreads
RGLD 75 & 80 covered calls
VECO 24/29 strangles
That’s it… have a good weekend all!
Options Bistro 