#Earnings. Looking at $ISRG, either 20-pt wide #IronButterfly or 37.5 OTM #IronCondor
Also $BLK, 10-pt wide IB
Not sure about $IBM
Anyone else?
Author Archives: Jeff
Wall Street bound
Heading to NYC today… my wife finished with her second best time, 3:24. It was a tough race for her but she’s feeling fine today.
SPX trades yesterday
#SPXcampaign. Bought to close $SPX Apr 19th 2355/2380 for 2.65. Sold for 7.60 last Tuesday. This was a reverse roll that worked. Due to being away from my computer yesterday, I thought I had gotten out for 1.30 in the morning, but discovered later I’m not very good at reading my broker’s mobile app.
Sold to Open May 18th 2190/2165 put spreads for 1.35
Sold to Open May 1st 2250/2275/2390/2415 iron condors for 3.95
NFLX earnings
#Earnings #ShortPuts. Selling puts on this today… its moves to the upside have been much larger so I’m more comfortable with bullish short puts, even taking assignment of stock if it drops.
STO NFLX Apr 21st 135 put for 1.90
STO NFLX Apr 21st 130 puts for .85
Will add more later, hopefully when options prices increase.
Over last 12 reports, NFLX 5-DAY moves: Biggest UP move: 27.8%, Biggest DOWN move: -19.9%, Average move: 13.4%. These stakes are -6.9% and -10.3% OTM.
SPX calls closed and calls sold
#SPXcampaign $SPX Bought to close the following:
Apr 20th 2375/2400 call spreads for .40. Sold for 7.50 on Apr 7th.
Apr 21st (SPXPM) 2390/2415 call spreads for .20. Sold as a #CondorRoll for 4.10 on Apr 7th.
May 5th 2430/2455 call spreads for .20. Sold as a #CondorRoll for 4.15 on March 28th.
Sold to Open May 18th 2420/2445 call spreads for 1.30, with SPX at 2336.
Econ Calendar for week of 4/17/17
Don’t forget to periodically click “Home/REFRESH” (on menu above) to keep items in the right-hand column updated.
Happy Monday from Boston Mass
It’s a holiday in this state, but the markets are open. I will be trading in the morning but then out to watch my wife run the marathon.
The VIX indicator has been updated. I’m behind on the SPX Chart but can answer any questions you have. I started selling call spreads aggressively when the #VIXIndicator fired last Tuesday, and expect more downside this week.
After the bell closings
#SPXcampaign. No expirations today, but these two closed a couple minutes after the bell.
Closed SPX Apr 28th 2420/2445 call spreads for .20. Sold as part of a #CondorRoll for 2.10 on Mar 27th (the put side closed earlier today)
Closed SPX May 5th 2435/2460 call spreads for .20. Sold for 1.40 on Apr 5th.
Looking for more fun next week!
SPX sales, stops, and rolls
#SPXcampaign Several trades… stopped out of a couple put spreads to lighten the load in case we have a blackish Monday.
STOPPED: Bought to close $SPX Apr 20th 2325/2300 put spreads for 5.20. Sold for 3.00 on Apr 5th.
STOPPED: Bought to close SPX May 5th 2245/2220 put spreads for 2.10. Sold for 1.45 on Apr 3rd
#ReverseRoll Sold to Open SPX May 5th 2395/2420 call spreads for 2.25… same expiry as above spread it is replacing
Also:
Closed May 5th 2440/2465 call spreads for .25. Sold for 1.45 on Apr 3rd
Closed Apr 28th 2150/2125 put spreads for .20. Sold as part of a #CondorRoll for 2.10 on March 27th
VXXGame dabble
#VXXGame. Sold a few positions… followed trades from Bistro members…
Sold SVXY May 19th 75 put for 1.30 (Tuesday)
Sold SVXY May 12th 65 puts for .60 (today)
Sold UVXY May 5th 40 call for .75 (today)
SKEW high
The $SKEW indicator has been above 130.00 since Feb 9th, the longest period above that level since its inception six years ago. Readings above 130.00 are typically a bearish sign, but it is not always a reliable indictor. (Readings below 120.00 are considered bullish)
SPX calls sold
#SPXcampaign Sold to Open $SPX Apr 28th 2380/2405 call spreads for 4.75, with SPX at 2346.
SPX trades
Good morning from Providence, Rhode Island
It is weird when the market doesn’t even open until 9:30.
#SPXcampaign
Bought to close SPX Apr 17th 2370/2395 call spreads for .40. Sold for 7.15 on Apr 3rd.
Bought to close SPX Apr 28th 2435/2460 call spreads for .20. Sold for 1.35 on March 30th.
Sold to open SPX May 12th 2420/2445 call spreads for 1.65, with SPX at 2340.
BOUGHT to Open SPX Apr 19th 2290/2265 bear put spreads for .75. This is in case we end the day lower and are poised for a dip into Monday. I will consider closing for a small loss today if that does not materialize.
SPX call spreads closed
#SPXcampaign
Bought to close $SPX Apr 28th 2440/2465 call spreads for .20. Sold in a #CondorRoll for 2.75 on March 21st.
Bought to close $SPX Apr 13th 2370/2395 call spreads for .20. Sold for 9.30 on March 31st. Nice one. That was the 14th time I rolled that trade. Finally done.
VIX Indicator is updated
#VIXIndicator Today the VIX surpassed 14.96, which is 50% above the VIX low of February 1. Since this is the second time it happened (the first was on March 27th), with a significant pullback between the two signals, this constitutes a Downside Warning on the Indicator I developed to warn us of the possibility of drastic moves down in the SPX.
Many Warnings only result in a small amount of volatility. But the larger market corrections have all been proceeded by these signals. So be cautious with bullish positions. I will keep the site updated as the days progress, and until the Warning is canceled. See the VIXIndicator panel in the right column. ————->
SPX call roll sold
#SPXcampaign Sold to Open $SPX April 19th 2355/2380 call spreads for 7.60, as a roll from stopped put spread earlier.
Got an extra 1.10 on this roll, but it’s possible this will blow up in my face if we saw a bottom today. For now, I’m trusting my signal that there will be more weakness in the coming days.
SPX puts stopped
#SPXcampaign After the Warning fired this morning, I closed SPX April 12th 2350/2325 put spreads for 6.50. Tried to sell a call spread for a roll but didn’t get filled… should have been more aggressive.
2-week trip pending
#Market We leave tomorrow for a 2-week trip to Boston, New York City, and Milwaukee. I plan to meet up with Bistro follower Ralph in NYC… let me know if anyone would like to connect in any of those cities.
And as most trading website moderators claim, when I travel the market seems to be volatile… sure enough, we got a Downside Warning the day before I leave. So I guess if nothing else worries you, consider my travel plans the market indicator!
Downside Warning fired
#VIXIndicator We just got a second signal this morning so we are now under a Downside Warning for the #Market. Expect more volatility and a downward bias. Be careful selling put spreads, or avoid them. Consider call spreads on rallies and even long put positions.
I will post more details on the warning later today.
SPX puts sold
#SPXcampaign Sold to Open $SPX May 12th 2210/2185 put spreads for 1.40, with SPX at 2354.
SPX calls closed, calls sold
#SPXcampaign
In pre-market, bought to close $SPX Apr 20th 2420/2440 call spreads for .20. Sold for 1.50 on March 24th.
Just now, sold to open SPX May 12th 2440/2465 call spreads for 1.40, with SPX at 2363.
Econ Calendar for week of 4/10/17
Short Week for US markets, Friday is a holiday.
VIX Indicator and SPX Chart have been updated
Be sure to periodically click “Home/REFRESH” (upper left) to keep features on the right hand column updated.
Options Expiration 4/7/17
#OptionsExpiration #VXXGame #CoveredCalls #SPXcampaign
–Expiring–
PANW 125 covered call
UVXY 31 calls
Also, closed earlier today: SPX Apr 10th 2320/2295 put spreads for .20. Sold for 1.75 on March 29th.
SPX sideways
#SPXcampaign #Market Nothing seems to shake us out of this consolidation. Who knows how long it will last? VIX and VXX are showing some signs, as @optioniceman points out. But until we get the move either way, theta has been doing wonders on my account. I’ll keep daring the market:
Sold to Open $SPXPM Apr 21st 2275/2300/2390/2415 iron condors for 4.10.
SPX calls sold
#SPXcampaign On the pop up to 2363, filled on this roll:
Sold to Open $SPX April 20th 2375/2400 call spreads for 7.50. Makes an iron condor with the Apr 20th 2325/2300 put spreads, sold for 3.00 earlier this week.
SPX calls closed
#SPXcampaign Bought to close $SPX Apr 13th 2400/2425 call spreads for .20. Sold for 3.25 on March 23rd.
PANW covered calls
#Earnings #CoveredCalls Not a fun one to be stuck in.
Sold to Open $PANW Apr 28 117 call for 1.25
SPX puts sold
#SPXcampaign Sold to Open $SPX May 5th 2230/2205 put spreads for 1.40, with SPX at 2352.
March Jobs Report
+98,000 non-farm jobs added, below estimates & down from 219,000 in Feb
Unemployment down to 4.5% (from 4.7% in Feb)
U6 unemployment down to 8.9% (from 9.2% in Feb)
Labor force participation 63.0%
Avg Hourly Earnings up 0.2% (slowing from 0.3% in Feb)
VIX Indicator and SPX Chart have been updated
I made no trades today. Futures down on the Syria bombing, overshadowing jobs report in the morning.
NFLX plan
#Earnings #ShortStrangles Bought to close NFLX June 175 call for .90. Sold for 3.00 on Oct 21st. Getting out before earnings in case this one explodes higher again. Still short a June 120 put.
I will definitely look to sell a strangle or at least puts into earnings on April 17th.
SPX trades
#SPXcampaign Was going to let this first one expire, but since I have to leave my desk now I closed to avoid risk:
Bought to close $SPX Apr 5th 2350 puts for .10. Sold in the 2350/2325 put spread for 4.50 on March 30th.
Closed this one for an #ATMroll as price dropped… then it dropped more so I could not get a fill on planned call spread roll:
Bought to close SPX Apr 12th 2365/2390 call spreads for 11.00. Sold for 11.25 on March 30th
But I did sell this as a partial roll for the stopped spread:
Sold to Open SPX Apr 20th 2325/2300 put spreads for 3.00
Lowest TICK readings since March 8th
And before that you’d have to go back to September to find lower. (on TOS, NYSE TICK)
SPX calls sold, put closed
#SPXcampaign Sold to Open $SPX May 5th 2435/2460 call spreads for 1.40, with SPX at 2371.
Bought to close SPX April 20th 2225/2200 put spreads for .20. Sold for 1.30 on March 22nd.
VIX Indicator and SPX Chart have been updated
SPX Chart, now with fewer arrows!
SPX trades
#SPXcampaign No trades all day, but then these all filled at or after the closing bell.
Sold to Open $SPX April 26th 2410/2435 call spreads for 1.95
Bought to close SPX Apr 7th 2305/2280 put spreads for .20. Sold for 3.10 on Mar 24th.
Bought to close SPX Apr 13th 2260/2235 put spreads for .20. Sold for 1.45 on Mar 14th.
SPX call roll sold
#SPXcampaign Yesterday near the close, sold to open $SPX April 17th 2370/2395 call spreads for 7.15. This is an #ATMroll from the Apr 10th spread I stopped yesterday.
SPX trades
#SPXcampaign Stopped out on this one which started the day ITM… exited when it was ATM, and now it is quite OTM and much cheaper… now need to wait for recovery to sell a roll.
Bought to close $SPX April 10th 2360/2385 call spreads for 9.00. Sold for 8.60 last Tuesday.
Also closed:
Apr 7th 2400/2425 call spreads for .20. Sold as #CondorRoll for 4.10 on Mar 23rd
Apr 5th 2380/2405 call spreads for .25. Sold for 3.45 on Mar 24th
Apr 5th 2375/2400 call spreads for .35. Sold for 6.10 on Mar 23rd
SPX puts sold
#SPXcampaign Sold to Open $SPX May 5th 2245/2220 put spreads for 1.45, with SPX at 2363.
SPX calls closed, calls sold
#SPXcampaign Bought to close $SPX Apr 3rd 2380/2405 call spreads for .15. Sold as a #CondorRoll for 7.80 on March 21st.
Sold to Open SPX May 5th 2440/2465 call spreads for 1.45, with SPX at 2365.
Econ Calendar week of 4/3/17
Be sure to periodically click “Home/REFRESH” above to keep features in the right-hand column updated.
JOBS report on Friday.
VIX Indicator and SPX Chart updated
#Market A long overdue update of my SPX positions (at right). Also, good article from Robert J. Shiller about the market: https://www.nytimes.com/2017/03/31/upshot/trump-bull-market-stocks.html?ref=business&_r=0
Options Expiration 3/24/17
–Expiring–
SVXY 110 put
UVXY 28 calls
SPX roll
#SPXcampaign Still dealing with a few #ITMroll call spreads, since our drop was not far enough or long enough. At least now they have become #ATMrolls
Bought to close $SPX Apr 7th 2365/2390 call spreads for 9.15. Sold for 8.35 last Friday.
Sold to Open SPX Apr 13th 2370/2395 call spreads for 9.30.
SPX puts sold
#SPXcampaign Sold to Open $SPX Apr 28th 2260/2235 put spreads for 1.30, with SPX at 2365.
SPX more trades
#SPXcampaign
Bought to close $SPX Apr 7th 2265/2240 put spreads for .20. Sold for 1.40 on Mar 6th
Sold to Open SPX Apr 28th 2435/2460 call spreads for 1.35
Bought to Close SPX Apr 7th 2275/2250 put spreads for .20. Sold for 4.10 on Mar 23rd
SPX trades
#SPXcampaign Yesterday:
Sold to Open $SPX April 10th 2320/2295 put spreads for 1.75
Bought to close Apr 7th 2255/2230 put spreads for .20. Sold for 1.35 on March 9th
Bought to close Apr 5th 2360/2335 put spreads for 6.45. Sold as #ITMroll for 9.20 on March 23rd
#ATMroll: Sold to Open Apr 12th 2350/2325 put spread for 5.50 (10 points lower)
Today:
Sold to Open SPX Apr 5th 2350/2325 put spreads for 4.50. Expires Monday.
SPX puts sold
#SPXcampaign Sold to open $SPX Apr 26th 2255/2230 put spreads for 1.35, with SPX at 2354.
SPX stop and roll
#SPXcampaign Bought to close $SPX Apr 28th 2410/2435 call spreads for 4.00.
#CondorRoll Sold to Open May 5th 2225/2250/2430/2455 iron condors for 4.15
SPX calls stopped
#SPXcampaign Bought to close $SPX March 31st 2340/2365 call spreads for 14.00. Sold yesterday for 6.00. Considering roll strategy.
Bought to close $SPX April 3rd 2350/2375 call spreads for 10.15. Sold last week for 17.10.
#ITMroll Sold to Open $SPX April 10th 2360/2385 cal spreads for 8.60. Will add another spread to make up to the roll debit.
SPX closed spreads
#SPXcampaign No fills while trying to sell new put spreads near the open, but these spreads closed today:
Bought to close $SPX April 20th 2445/2470 call spreads for .20. Sold for 1.35 last week.
Bought to close $SPX March 31st 2285/2260 put spreads for .20. Sold for 1.35 on March 2nd.
Always buyers
#SPXcampaign Seems there are always buyers in this market. No doubt getting whipsawed in last couple weeks… still manage to profit overall from the expiring OTM spreads, but the closer-in aggressive spreads have been thrashed in both directions. Now I have to roll yesterday’s supremely ill-timed call spread, 2340/2365 call spread expiring this Friday. Will look for next intraday pull back to exit and determine roll strategy later.
SPX puts closed
#SPXcampaign Bought to close $SPX April 3rd 2325/2300 put spreads for 5.05. Sold as part of a #CondorRoll last Tuesday for 7.80.
The call spread I sold this morning will act as a roll for this spread. I stopped it since it started the day ITM, so I’m not giving it another chance to explode.
SPX put roll, calls closed
#SPXcampaign 3.00 stop hit on one spread.
STOPPED: Bought to close $SPX April 20th 2265/2240 put spreads for 3.20. Sold last Tuesday for 1.35.
#CondorRoll Sold to Open SPX Apr 28th 2125/2150/2420/2445 iron condors for 2.15, 1.5x position size.
Also, closed SPX April 13th 2435/2460 call spreads for .20. This one was not closing as a spread, even with a bid of .25, so I closed the legs manually for .35 and .15.
SPX call spreads sold
#SPXcampaign Sold these call spreads this morning after the open…
Sold to open $SPX March 31st 2340/2365 call spreads for 6.00. Expire this Friday.
Sold to Open $SPX April 28th 2410/2435 call spreads for 1.75.
Econ Calendar week of 3/27/17
Be sure to click “HOME/Refresh” (upper left) when you start your day and periodically when using Bistro so features in the upper menu and right-hand column remain updated.
SPX call spreads closed
#SPXcampaign At the pre-market open, just after midnight ET…
Bought to close $SPX Apr 7th 2430/2455 call spreads for .20. Sold for 1.55 on March 10th.
Bought to close $SPX March 31st 2400/2425 call spreads for .20. Sold for 4.40 on March 10th.
VIX Indicator signal fired
#VIXIndicator #Markets #spxcampaign
In the pre-market, the VIX peaked at 15.11 (so far) this morning and has fired a downside signal. This cancels the Upside Warning that’s been in effect since November. If we reach 16.20 today, that will fire a Downside Warning.
I will be rolling some put spreads today, selling some call spreads, and being cautious on placement of any new put spreads.
Futures down 0.75%
OptionsExpiration 3/24/17
#OptionsExpiration #Earnings #Assignment
Only losers to post this week! Yay!
FDX 190/195/200 iron butterfly… max loss.. and it looked so pretty on Wednesday…
PANW April 21st 135 puts, assign stock on 3 puts; still holding 1 put.
SPX trades
#SPXcampaign Sorry I haven’t been posting all trades last few days. Been pretty busy both trading and with other duties this week. In general, I have been rolling near-the-money put and call spreads, as well as selling some addition call spreads. This week was quite beneficial for me since I have been leaning short for a couple months. If we can stay in this range or go lower, I will be able to back out of all previously ITM call spreads next week.
Today:
Sold to Open $SPX April 20th 2420/2445 call spreads for 1.50
Bought to close March 31st 2355/2380 call spreads for 11.00. Sold for 16.75 on Tuesday.
#CondorRoll (wings sold separately): April 7th 2365/2390 calls for 8.35 and 2305/2280 puts for 3.10
Bought to close March 27th 2390/2415 calls for .20. Sold in a condor for 5.20 on Monday.
When you absolutely, positively have…
When you absolutely, positively have to lose your profits overnight
#Earnings FedX trade turned sour… the peril of choosing to hold onto an #IronButterfly that is perfectly centered on Wednesday, for hopes of more decay and bigger profits on Friday…. BUSTED!
Closed the short calls for .60 yesterday, which was meant to protect me from upside but instead increased my loss. Total loss on trade will now be 1.50 rather than .90. Oh well. Not interested in taking assignment with the market uncertainty.
VXX game plays
#VXXgame Just dabbling. I want to reserve cash for a really big vol pop, if we get one. I’d rather not start in the hole.
STO SVXY April 21st 90 puts for 1.00
STO UVXY April 21st 31 call for .91
Breaking News: no health care…
Breaking News: no health care vote today.
FedX earnings trade
#Earnings Closed the $FDX March 24th 195 calls for .60. Sold in the 190/195/200 iron butterfly for 4.10 on Tuesday. Now waiting for a rally back to 195 to get out of the short puts. Remnant order in to sell a long 200 call for .07, then higher prices if it keeps moving up.
SPX calls closed
#SPXcampaign The good news: Bought to close $SPX March 24th 2370/2395 call spreads for 1.00. Sold for 13.65 on March 3rd. This is the kind of closure I’ve been waiting for with these ITM and ATM spreads.
And now for the bad news, bought to close March 24th 2340/2315 put spreads for 7.35. Sold as part of a #CondorRoll for 5.35 on March 1st. Got stopped at the bottom of the day (so far). Now I gotta roll this one too! (among others)
Market and SNAP
#Market – more weakness today and could get worse into Friday if the earth Care bill continues to struggle on the Hill.
Meantime, $SNAP doesn’t seem to care. May be time to go long.
SPX puts sold at open
#SPXcampaign Sold to Open $SPX April 20th 2225/2200 put spreads for 1.30, with SPX at 2340. Even though mid-price showed .97, I was filled almost immediately at 1.30. Perhaps not a good sign!
FDX!!!
#Earnings… holy crap what a ride after hours… our bullish trades looked dead, now they’re alive and kicking hard!
FB trades, continued
#Earnings #StockTrades #CoveredCalls
As per my previous post, more stock sold at 138.80, and BTC March 31st 140 call for .90 (sold for 1.40 on 2/22).
more SPX trades
#SPXcampaign Rolled a put spread and a few call spreads closed…
STOPPED, bought to close $SPX March 27th 2355/2330 puts spreads for 7.60. Sold yesterday in a #CondorRoll for 5.20. Rolled into another condor…
Sold to Open SPX April 3rd 2300/2325/2380/2405 condors for 7.80
Closed March 24th 2385/2410 call spreads for .50. Sold yesterday for 3.75
Closed April 13th 2455/2480 call spreads for .20. Sold last week for 1.30
Closed March 31st 2420/2445 call spreads for .20. Sold for 2.65 on March 7th
SVXY roll
#VXXGame #StrangleRoll
#Rolling out some ATM calls to an OTM #ShortStrangles which requires much less margin to carry.
BTC $SVXY June 135 calls for 18.35. Sold for 8.05 on Jan 20th.
STO $SVXY Sept 100/180 strangles for 18.95.
FB trades
#Earnings #CoveredCalls #StockTrades
With FB hitting all-time highs this morning, I first sold the April 28th 145 covered call for 2.00. I then put Trailing Stops on my stock position, at three levels: 2.00, 3.50, and 5.00 trails.
The 2.00 trail was hit, so sold one-third of the stock for 140.30. Cost basis 131.20.
SPX trades
#SPXcampaign Sold my first standard weekly put spread early when the drop got started:
Sold to Open $SPX April 20th 2265/2240 put spreads for 1.40, when SPX was at 2363
Stopped out of an #ITMroll a day early to take advantage of low price. I plan to sell a roll on a bounce above 2365. Bought to close SPX Karch 29th 2355/2380 call spreads for 12.05. Sold for 18.50 last Thursday.
Stopped and rolled a put spread since my 3.00 stop was breached. Waited for the bounce to make the trade. Was able to roll into a nicely OTM condor without increasing position size.
STOPPED: Bought to close SPX April 13th 2300/2275 put spreads for 2.60.
#CondorRoll: Sold to Open SPX April 28th 2200/2225/2440/2465 iron condors for 2.75.
