VIX Indicator and SPX Position Chart are updated
Author Archives: Jeff
Options Expiration 1/27/17
#OptionsExpiration #Earnings #ShortStrangles #ShortPuts #ShortCalls #IronButterfly #VXXGame #Assignment #BullPutSpreads
–Expiring w/max profit–
EBAY 28.5 puts
FB 126 put
FFIV 157.5 calls
LUV 50/49 put spreads
SPX 2260/2235 put spreads
UVXY 37 calls
–Assignment–
SBUX 60 puts, stock assigned, cost basis 56.73
–Expired w/max loss–
COF 85/87/89 iron butterfly
SPX 2300/2325 LONG call spread, bought for 1.10, closed half for 4.70 so overall profitable trade.
COF trade
#Earnings, If you’re in this trade is probably a good idea to close the 87 short calls. If COF ends the day under 89, you will be assigned short stock if you don’t close the short calls.
JNJ break today
#Earnings #IronButterfly Getting the surge we wanted on JNJ at the last minute. We can get out now for less than max loss… Just put a .15 trailing stop on the option price to close the 115 short puts. At the moment I will be stopped at 1.73, but I hope it goes down from here (meaning stock continues UP).
(Sold the Jan 27th 113/115/117 iron butterfly for 1.35 on Monday)
FB covered call roll
#Earnings #CoveredCalls #StockTrade #ShortStrangles #StrangleRoll
BTC $FB Jan 27th 130 call for 1.98. Sold for .53 on Jan 10th.
STO $FB Feb 3rd 126/138 strangle for 2.58.
Going into next week’s earnings with a long bias; I am long stock. I will be selling additional options the day of earnings.
GOOGL extra
#Earnings I covered the short 815 puts for .10 earlier… I put in an order to sell the long 805’s for .05, and it filled a few minutes ago as the stock was going back UP. Someone had to close their shorts I guess!
Indices down, but VIX just…
Indices down, but VIX just hit a new 2.5 year low
GOOGL trade closed
#Earnings Bought to close $GOOGL Jan 27th 815 puts for .10. Sold the 815/805 put spreads yesterday for 1.40. No reason to risk it if I can close this cheaply.
SBUX busted butterfly
#Earnings #IronButterfly #StockTrades Took a bullish shot on this one with the 58/60/62 IB for 1.47. I am planning to sell the long 58 puts at the open for around 2.00, leaving me short the naked 60 puts. This will total 3.47 in premium received, meaning my cost basis on the stock, when assigned tonight, will be 56.53. I am comfortable with that for hopefully a quick turnaround to sell the stock on a pop next week. If it drops further I can hold it through its dip until recovery. This company isn’t going anywhere.
VIX Indicator and SPX Position…
VIX Indicator and SPX Position Chart have been Updated
SPX long call spread
#SPXcampaign Bought to Open $SPX Feb 6th 2330/2335 call spreads for 1.35, about 6 minutes after the bell. Looking to close when the spread reaches 5.00-10.00.
SPX reverse roll
#SPXcampaign Stopping out and reversing my most endangered call spread.
Bought to close $SPX Feb 24th 2230/2255 call spreads for 3.90. Sold on Tuesday for 1.40
#ReverseRoll: Sold to Open SPX Feb 10th 2275/2250 put spreads for 3.95, with SPX at 2296.
Outlook remains bullish. Today the VIX is having its 3rd close beneath the most recent 78.6 Fib line (drawn from 12/21 low and 1/19 high). This is another confirmation of the ongoing Upside Warning.
FFIV puts closed
#Earnings BTC FFIV Jan 27th 130 puts for .10. Sold yesterday as the 130/157.5 strangle for .90. Letting the calls expire. This is to avoid any possible downdraft tomorrow.
Allowing the LUV and EBAY trades to expire
JNJ and COF will have to move tomorrow to become winners, but they are IB’s so loss is minimal.
GOOGL earnings
#Earnings #BullPutSpreads GOOGL looking bullish but I’d prefer to stay OTM in case its one day performance pulls back a bit. Going with a spread rather than naked since I don’t want to take assignment of such an expensive stock, and the margin requirement provides far better return percentage.
Sold to Open $GOOGL Jan 27th 815/805 put spreads for 1.40. Biggest UP move: 16.3%, Biggest DOWN move: -5.4%, Average move: 4.5%. This trade is 4.6% OTM.
SBUX earnings
#Earnings SBUX has not been a big mover on recent earnings, so placing a slightly bullish 1:3 #IronButterfly, looking for a close around 60.00 tomorrow.
Sold to Open $SBUX Jan 27th 58/60/62 iron butterfly for 1.47. Biggest UP move: 6.6%, Biggest DOWN move: -4.9%, Average move: 2.3%. Center strike is +2.0% OTM.
SPX calls sold, puts closed
#SPXcampaign Sold to Open $SPX Feb 24th 2365/2390 call spreads for 1.35, with SPX at 2298.
Bought to close SPX Feb 10th 2150/2125 put spreads for .20. Sold for 1.35 on Jan 9th.
SPX call spread stopped
#SPXcampaign Handling this one as an ITM position, but taking this morning’s weakness as opportunity to close, so I can replace it (hopefully) at higher strikes on the next rally.
Bought to close $SPX Feb 6th 2290/2315 call spreads for 11.00. Sold for 6.70 on Tuesday as a roll.
FFIV and EBAY trades looking good, Mortimer…
Now if LUV does well in the morning, I’ll be 3-for-3 overnight.
SPX, closing half of long calls
#SPXcampaign Sold to Close $SPX Jan 27th 2300/2325 call spreads for 4.00. Bought for 1.10 yesterday. That was on my Reg-T marin accounts. For my Portfolio margin account, I closed only the long calls and left the 2325 shorts to expire Friday: Sold to Close $SPX Jan 27th 2300 calls for 4.70.
Will look to close the remainder of the spreads after they reach 8.00. If they don’t will exit before the theta drains out.
EBAY earnings
#Earnings #ShortPuts Sold to Open $EBAY Jan 27th 28.5 puts for .30. Biggest UP move: 13.9%, Biggest DOWN move: -12.5%, Average move: 6.4%. This trade is -5.9% OTM.
Playing this one bullish; 28.5 is just below 200 ema. 28.5 stock price is easy to manage if assigned.
LUV earnings
#Earnings #BullPutSpreads Taking a bullish trade on LUV with an 11:9 risk reward. All airlines have been going strong. LUV’s last two reports were down, but all airlines were struggling last year, with their bullish trends starting around October.
Sold to Open $LUV Jan 27th 50/49 put spreads for .45.
Here are last 12 reports:
Oct. 26, 2016 BO -8.46%
July 21, 2016 BO -11.20%
April 21, 2016 BO 1.44%
Jan. 21, 2016 BO 0.50%
Oct. 22, 2015 BO 7.40%
July 23, 2015 BO 3.87%
April 23, 2015 BO 0.95%
Jan. 22, 2015 BO 8.41%
Oct. 23, 2014 BO -2.77%
July 24, 2014 AC 1.95%
April 24, 2014 AC -1.31%
Jan. 23, 2014 BO -2.43%
FFIV earnings
#Earnings #ShortStrangles
Sold to Open $FFIV Jan 27th 130/157.5 strangles for .90. (filled quickly so more may be possible)
Biggest UP move: 9.6%, Biggest DOWN move: -10.0%, Average move: 4.8%. These strikes are about 9.5% OTM.
PANW stock sold
#AfterHours #StockTrades #Earnings
Sold to Close $PANW stock for 146.52. Bought for 140.85 after their earnings announcement, after hours on Nov 21st. This was supposed to be a 1-hour to 1-day trade. But it decided to dip down below 124.00 before recovering.
New VIX low hit, lowest…
New VIX low hit, lowest since July 2014
SPX puts closed, puts sold
#SPXcampaign In pre-market, Bought to close $SPX Jan 27th 2235/2210 put spreads for .20. Sold for 1.75 last Friday.
Looking for higher prices later today so not selling calls yet. But sold my other weekly put spread:
Sold to Open $SPX Feb 24th 2200/2175 put spreads for 1.55, with SPX at 2290.
Dow 20,000, and all-time SPX and NDX highs as well
Extra put spread sold
#SPXcampaign In after market, Sold to Open $SPX Feb 3rd 2260/2235 put spreads for 3.35.
SPX calls stopped
#SPXcampaign On the small pullback I bought to close $SPX Jan 30th 2285/2310 call spreads for 5.65. Sold as part of a #CondorRoll yesterday for 4.35.
New all-time high on SPX…
New all-time high on SPX today.
SPX trades, part 2
#SPXcampaign #Rolling #LongSpread #RiskReversal
Sold to Open $SPX Feb 6th 2290/2315 call spreads for 6.70, as a roll from Jan 27th spread stopped earlier. This was a fat-fingered fill. Was trying to enter the order for 7.00 but it didn’t take. I can let this get ATM or even ITM and roll next Monday at the latest.
And for the possibility of a strong push into Friday, I did this Risk Reversal:
BOUGHT to Open $SPX Jan 27th 2300/2325 call spreads for 1.10
Sold to Open $SPX Jan 27th 2260/2235 put spreads for 1.10
If we don’t get the strong push, then I’ll be flat, UNLESS we go down below 2260 instead.
Gold trades
#ContangoETFs #ShortCalls #CoveredCalls #GOLD
Earlier today…
STO RGLD Feb 17th 80 covered call for .50
BTC DUST Feb 17th 107 call for .05. Sold for 5.45 on Dec 20th.
BTC Dust Feb 17th 75 call for .15. Sold for 9.00 on Nov 23rd.
This leaves me flat in DUST/NUGT. Going to leave them alone until one of them goes on a bullish surge. I did well overall on this DUST bull run (started selling calls on Oct 4th), although it would have been better if I wasn’t forced to close a few on the highs due to margin (Nov 11 & 14). I will be careful to not sell too many too fast next time.
SPX call spread stopped
#SPXcampaign Looks like the boredom could be over. Having to stop a call spread for the first time in awhile…
Bought to close $SPX Jan 27th 2280/2305 call spread for 6.65. Sold for 7.40 on Jan 13th.
Since an Upside Warning is still in effect, this could easily turn into a run up above 2300. I will be rolling the above spread to a higher, farther out call spread. Also keeping a watch on the Jan 30th 2280/2305 spread I sold yesterday. Will cut it loose if we don’t stop at 2280.
The Jan 25th 2285/2310 call spread that closed on my GTC order this morning for .20? Now trading for 2.30. This is why I don’t allow close call spreads to expire, even if there’s only one day left.
SPX trades
#SPXcampaign Sold to Open $SPX Feb 24th 2330/2355 call spreads for 1.40, earlier when SPX was at 2271.
Bought to close SPX Jan 25th 2215/2240 put spread for .20, and Jan 25th 2285/2310 call spread for .20, earlier when SPX was wavering between 2268 & 2270. Sold as an iron condor for 4.00 last Wednesday.
COF earnings
#Earnings #IronButterfly Trying the same approach on this one. Has not moved much on earnings, except for 2 outlier moves in 2015. So it’s a decent candidate for an IB. Also, banks have not been moving much this quarter on earnings, after their bullish runs since the election.
Sold to Open $COF Jan 27th 85/87/89 iron butterfly for 1.60. Max loss .40.
Here are its one-day moves:
Oct. 25, 2016 AC 0.05%
July 21, 2016 AC -1.41%
April 26, 2016 AC -2.17%
Jan. 26, 2016 AC 4.83%
Oct. 22, 2015 AC 8.24%
July 23, 2015 AC -13.12%
April 23, 2015 AC -1.73%
Jan. 22, 2015 AC 1.83%
Oct. 16, 2014 AC -2.67%
July 17, 2014 AC -0.24%
April 16, 2014 AC -0.35%
Jan. 16, 2014 AC -5.29%
Average move: +/- 3.5%
Avg move if you remove the 2 outliers: +/- 1.7%
JNJ earnings update
#Earnings #IronButterfly In this bullish market, a gap down is the best for an IB when we have 3 days left to expiry. Yesterday sold the Jan 27th 113/115/117 iron butterfly for 1.35.
Just now, bought to close the 115 calls for .05. Now I have until Friday for JNJ to recover toward the 115 area, allowing me to close the puts for cheap. It may not happen, which means loss will be .70 on the trade.
VIX Indicator and SPX Chart…
VIX Indicator and SPX Chart have been updated
JNJ earnings iron butterfly
#Earnings #IronButterfly Sold to Open $JNJ Jan 27th 113/115/117 iron butterfly for 1.35. Slightly bullish position, and we have until Friday for it to settle in.
SPX puts sold
#SPXcampaign Sold to Open $SPX Feb 24th 2150/2125 put spreads for 1.35, earlier when SPX was at 2266.
SPX puts closed
#SPXcampaign Bought to close $SPX Feb 3rd 2125/2100 put spreads for .20. Sold for 1.45 on Jan 3rd.
SPX Condor sold
#SPXcampaign #CondorRoll The consolidation continues with the small gap down immediately recovering. Continuing to sell 1-week out 4-dollar(ish) condors:
Sold to Open $SPX Jan 30th 2220/2245/2285/2310 iron condors for 4.35, with SPX at 2270.
Econ Calendar for week of 1/23/17
Blue star = Market Moving Indicator; Yellow square = Merits Extra Attention; Pink Circle = Other Key Indicator
VIX Indicator and SPX Postion…
VIX Indicator and SPX Postion Chart have been updated
Options Expiration 1/20/17
#OptionsExpiration #SPXcampaign #ShortCalls #ShortPuts #Earnings #ContangoETFs #VXXGame
— Expired w/Max Profit —
DUST 60 call
FB 110 put
NFLX 105.71, 120, and 125 puts
NUGT 30 call
UVXY 37 calls
SPX 2300/2325 calls
— Expiring w/loss —
PG 82.5/84.5/86.5 iron butterfly
SVXY rolls
#VXXGame #ShortCalls #Rolling
BTC SVXY Jan 20th 95 call for 16.05. Rolled to: June 135 calls for 8.05 (x2)
BTC SVXY Jan 20th 105 calls for 6.10. Rolled to: June 140 calls for 6.60
SPX trades
#SPXcampaign Final put spread of the week and three closed spreads…
Sold to Open $SPX Feb 16th 2165/2140 put spreads for 1.30
Bought to close Jan 27th 2180/2155 put spreads for .20. Sold for 1.40 on Jan 5th.
Bought to close Jan 23rd 2090/2315 call spreads for .20. Sold for 4.35 on Jan 11th.
Bought to close Feb 10th 2350/2375 call spreads for .20. Sold for 1.30 on Jan 10th.
RGLD Covered Calls
#CoveredCalls #Gold #Earnings
STO $RGLD April 80 call for 2.00
SPX spreads on the Tasty platform
Has anyone confirmed the commission cost to sell an SPX spread?
SPX calls sold
#SPXcampaign Sold to Open $SPX Feb 16th 2335/2360 call spreads for 1.40, with SPX at 2275
UVXY calls
#VXXGame #ShortCalls STO UVXY Jan 27th 37 calls for .75
SPX puts closed
#SPXcampaign Bought to close $SPX Jan 19th 2240/2215 put spreads for .40. Sold as part of a #CondorRoll for 3.25 on Jan 11th. Letting the 2300/2325 call side expire. Because this settles tomorrow morning, could not risk an overnight gap, especially with the weakness we’re now seeing.
PG earnings
#Earnings #IronButterfly Not a big mover on earnings, so playing for calm.
STO $PG Jan 20th 82.5/84.5/86.5 iron butterfly for 1.28. Risking .72 to make 1.28.
SPX spreads closed
In pre-market, Bought to close $SPX Jan 31st 2330/2355 call spreads for .20. Sold as part of a #CondorRoll for 4.80 on Jan 6th.
Just after the bell, Bought to close $SPXPM Jan 20th 2225/2200 put spreads for .20. Sold for 2.65 on Jan 5th.
NFLX trades
#Earnings #ShortCalls #ShortPuts
With the success of yesterday’s bullish trades, I am closing NFLX positions that were rolls from failed October earnings trades.
BTC NFLX March 95 put for .15. Sold for 2.55 on 10/24
BTC NFLX March 90 put for .12. Sold for 2.97 on Nov 14th
BTC NFLX March 150 calls for 2.77. Sold for 4.50 on Oct 21st
Options Expiration 1/18/17
#OptionsExpiration #SPXcampaign
Expiring: SPX 2290/2315 call spreads, sold as part of a #CondorRoll for 4.65 on 1/10.
SPX trades
#SPXcampaign We continue to consolidate so I will continue to sell short term, aggressive condors.
#CondorRoll Sold to Open $SPX Jan 25th 2215/2240/2285/2310 iron condors for 4.00.
Also, selling standard 5-week call spread.. no fills on the day’s highs so I’m just getting something filled: Sold to Open $SPX Feb 16th 2330/2355 for 1.45.
SPX puts closed, calls closed yesterday
#SPXcampaign Just now: Bought to close $SPX Jan 18th 2250/2225 put spreads for .20. Sold in a condor for 4.65 on Jan 10th. This avoids any late-day drop which I don’t expect but could happen. I will let the 2290/2315 call side expire today.
Yesterday: BTC $SPX Jan 27th 2325/2350 call spreads for .20. Sold for 1.50 on Dec 30th.
NFLX earnings
#Earnings NFLX is always a big mover. Here are the details on its THREE-DAY moves after earnings (since options expire Friday).
Over last three days, NFLX move 3 days after earnings: Biggest UP move: 25.4%, Biggest DOWN move: -20.4%, Average move: 14.3%.
Mon 10/17/2016 AC 23.59%
Mon 07/18/2016 AC -12.97%
Mon 04/18/2016 AC -12.38%
Tue 01/19/2016 AC -6.64%
Wed 10/14/2015 AC -10.19%
Wed 07/15/2015 AC 16.95%
Wed 04/15/2015 AC 20.20%
Tue 01/20/2015 AC 25.41%
Wed 10/15/2014 AC -20.39%
Mon 07/21/2014 AC -5.87%
Mon 04/21/2014 AC -1.26%
Wed 01/22/2014 AC 15.68%
SPX calls closed
#SPXcampaign Bought to close $SPX Feb 3rd 2350/2375 call spreads for .20. Sold for 1.30 on Jan 6th.
SPX Puts sold
#SPXcampaign Sold to Open $SPX Feb 16th 2150/2125 put spreads for 1.50, with SPX at 2266.
Also, in pre-market hours, bought to close SPX Jan 27th 2335/2360 call spreads for .20.Sold for 1.30 on Dec 29th.
Econ Calendar, week of 1/16/17
Blue star = Market Moving Indicator; Yellow square = Merits Extra Attention; Pink Circle = Other Key Indicator
https://optionsbistro.files.wordpress.com/2017/01/market-closed-monday.jpg
Options Expiration 1/13/17
#OptionsExpiration #ShortStrangles #ContangoETFs #SPXcampaign
— Expiring w/Max Profit —
DUST 84 call
REGN 350/405 strangle
— Expiring w/Loss —
SPX long call spread, 2300/2325, bought for 1.45. Didn’t get the bull run I was expecting. But the flat market is perfect for the #SPXcampaign
SPX condor roll
#SPXcampaign #CondorRoll To replace the $SPXPM call spread closed this morning:
Sold to Open $SPX July 27th 2280/2305 call spreads for 7.40
Sold to Open $SPX July 27th 2235/2210 put spreads for 1.75
The new phone books are here!
I keep thinking of that scene from Steve Martin’s “The Jerk”… because the new UVXY options are here! I’m following some of you knuckleheads on these short termers:
STO UVXY Feb 3rd 40 calls for 1.45
STO UVXY Jan 20th 37 calls for .39
Okay, now I’m somebody.
REGN strangle
#ShortStrangles #Rolling #Earnings
Selling this to replace one expiring today. This expires just before earnings.
STO $REGN Feb 3rd 340/400 strangle for 5.60
FB covered calls
#CoveredCalls #Rolling #StrangleRoll
I’d like to hold the stock through earnings…
Bought to close $FB Jan 13th 126 covered call for 2.09. Sold for .65 on Tuesday.
Sold to Open FB Jan 27th 126 put for 1.03
Sold to Open FB Feb 24th 140 covered call for 1.07
SPX trades this morning
#SPXcampaign Sold my remaining two spreads for the Feb 10th expiry:
Sold to open $SPX Feb 10th 2340/2365 call spreads for 1.30
Sold to Open $SPX Feb 10th 2180/2155 put spreads for 1.45 (couldn’t trade yesterday during the dip, and I missed out on much better opportunities)
Stopping an ITM spread, looking to sell a condor for the Jan 27th expiry as a #CondorRoll
Bought to close $SPXPM Jan 20th 2275/2300 call spreads for 9.10. Sold for 8.60 on Jan 5th.
SPX trades today
#SPXcampaign #Rolling #CondorRoll #OptionsExpiration
Bought to close $SPX Jan 19th 2330/2355 call spreads for .20. Sold for 1.60 on Dec 23rd.
Sold to Open $SPX Jan 23rd 2290/2315 call spreads for 4.35 as a roll.
After the bell: Sold to Open Jan 19th 2215/2240/2300/2325 iron condors for 3.25 as a roll. Slightly less aggressive than the near-term one I sold yesterday.
Expiring today: Jan 11th 2260/2235 put spreads. Sold for 1.55 on Friday.
UVXY reverse split tomorrow!
SPX condor sold
#SPXcampaign Well it looks as if the rally is fizzling, dimming the prospects for a bigger bull push. It is still possible, but it could also be a much slower grind. As long as we’re having these small daily moves, I will sell some near-term condors to continue to fulfill my #Rolling needs.
#CondorRoll Sold to Open $SPX Jan 18th 2225/2250/2290/2315 iron condors for 4.65, with SPX at 2272.
SPX puts closed
#SPXcampaign Bought to close $SPX Jan 23rd 2165/2140 put spreads for .20. Sold for 1.60 on Jan 3rd.
SPX call spread sold
#SPXcampaign Sold to Open $SPX Feb 10th 2350/2375 call spread for 1.30, with SPX at 2277.
SPX calls stopped
#SPXcampaign Bought to close $SPX Jan 17th 2280/2305 call spreads for 4.55. Sold for 7.00 on Dec 28th. Guess I was asleep earlier, I should have closed this when SPX was fdown, since it is one-week to expiration. Looking to roll this (and others) later today or this week).
FB covered calls
#CoveredCalls #Long Stock #Earnings
Sold the following after a pretty extended run on FB. The first two expire before Feb 1st earnings.
STO FB Jan 13th 126 call for .65
STO FB Jan 27th 130 call for .53
STO FB Mar 17th 140 call for 1.00
VIX Indicator and SPX Chart have been updated
#VIXIndicator $VIX 11.73 is the 78.6% Fib retracement drawn from the VIX 12/21 low and the 12/30 high. Monday was the third consecutive close below this level, which could indicate another strong push higher, like the one that began 12/7.
Options Bistro 