#SPXcampaign Going for a 1:4 r/r bullish #IronButterfly on $FDX
Sold to Open FDX March 24th 190/195/200 iron butterflys for 4.10. Max risk .90. Max profit near 4.00 if Friday pins near 195 on Friday. Call volume at 195 is ten times higher than surrounding strikes.
Over past 12 earnings, the 3-day results: Biggest UP move: 13.5%, Biggest DOWN move: -8.2%, Average move: 4.5%.
All time highs today in FB, NFLX, AAPL, AMZN… and yet S&P down 15 from morning highs. Even with all of those tech highs, Nasdaq has gone negative.
#SPXcampaign Since March 1st SPX high, this has been a pattern… failed rallies. At the same time, there have been buyers when we hit lows.
Bought to close $SPX March 22nd 2350/2325 put spreads for .20. Sold for 3.55 on March 10th.
Sold to Open SPX April 20th 2445/2470 call spreads for 1.35, with SPX at 2374.
Sold to Open SPX March 31st 2355/2380 call spreads for 16.75. #ITMroll for spread that was stopped on Friday.
SPX Chart and VIX Indicator have been updated
#SPXcampaign
Sold to Open $SPX April 3rd 2350/2375 call spreads for 17.10, as an #ITM roll from speed closed earlier
Sold to Open SPX March 24th 2385/2410 call spreads for 3.50, to make up the debit in the roll.
#SPXcampaign Bought to close $SPX March 22nd 2395/2420 call spreads. Sold for 2.20 on Thursday.
#SPXcampaign Bought to close $SPX March 20th 2370/2345 put spreads for .20. Closing to avoid any last minute plunge in the market. These were sold on March 1st as part of a #CondorRoll for 9.55
#SPXcampaign Bought to close $SPX March 31st 2250/2225 put spreads for .20. Sold for 1.35 on Feb 27th.
Bought to close SPX March 27th 2345/2370 call spreads for 21.35. Sold as an #ITMRoll for 18.50 on March 15th. Looking to sell a replacement for April 3rd expiry.
Sold to Open SPX March 27th 2330/2355/2390/2415 iron condors for 5.20, with SPX at 2377.
Chart update coming later today.
#OptionsExpiration #SPXcampaign #Earnings #IronCondor #ShortStrangles #VXXGame
— Expired —
AZO 670/680/780/790 iron condors
REGN 350 put
SPXPM 2340/2315 put spreads
SPXPM 2350/2325 put spreads
SVXY 100, 110, and 120 puts
UVXY 32 calls
–Assignment–
SVXY 100 call – assigned short stock. This was assigned a couple days ago. Will probably roll into ITM options if no correction starts soon.
–Exercised–
SPXPM 2385/2360 put spreads — got whipsawed this week, and tried to ride this one out today, but got crushed at day’s end. Looks like a 6.87 loss. Will add it to my list of rolls.
#CoveredCalls Bought to close $FB March 17th 140 Covered Call for .10, to avoid possible assignment. Sold for 1.00 on Jan 10th.
#SPXcampaign
Two rolls sold yesterday near the close:
Sold to Open $SPX March 22 2395/2420 call spreads for 2.20
Sold to Open $SPX March 29th 2355/2380 call spreads for 18.50 #ITMRoll
Today:
Sold to Open $SPX April 13th 2300/2275 put spreads for 1.40, with SPX at 2379.
#Earnings Bought to close $TIF March 17th 91 calls for .88. Looks like we may have hit the intraday low so closing the upside risk. Still short 91 puts and I will close cheaply or frantically if we drop further. Sold the 88/91/94 #IronButterfly yesterday for 2.15.
#ShortStrangles – after following @fuzzballl‘s lead and squeezing in my strangle to be 350/380, my short call flew above 15.00 this week… but now getting a welcome pullback on expiration day so I can exit cheaply and throw on the next one for April. Which strangle do you have for April 21, Fuzz?
**BE SURE to click “Home/REFRESH” (above) periodically to make sure feature in the right hand column of the site remain updated.
#SPXcampaign trades from afternoon yesterday:
Bought to close $SPX March 20th 2320/2295 put spreads for .20. Sold for 1.60 on March 7th.
Bought to close SPX March 22nd 2345/2370 ITM call spread for 22.40. Sold for 15.50 on March 8th.
Partial Roll: Sold to open March 29th 2360/2335 put spreads for 3.25. Looking for a call spread #ITMroll today.
STOPPED: Bought to close SPX March 16th 2390/2415 call spreads for 2.91. Sold for 2.50 on March 8th.
This morning:
Sold to Open SPX April 13th 2455/2480 call spreads for 1.30, when SPX was at 2386.
I was expecting more strength today, but with the downward move I got stuck closing call spreads at the top yesterday.
#Earnings $TIF not a big mover, with a 3.82% average move and a positive 2.73% bias. Biggest UP move: 10.5%, Biggest DOWN move: -4.0%
Sold an #IronButterfly, March 17th 88/91/94 for 2.15. Max risk .85. Slightly bullish lean to the trade.
#SPXcampaign And we’re off to the races once again. As this kind of strength seems to carry through, at least for a day or two, I just reversed myself when a trade was almost ATM.
Bought to close $SPXPM March 17th 2390/2415 call spreads for 4.25. Sold as part of a #CondorRoll for 6.50 on March 10th.
#ReverseRoll Sold to Open SPXPM March 17th 2385/2360 put spreads for 4.65.
#SPXcampaign Before the Yellen pop, bought to close $SPX March 20th 2385/2410 call spreads for 4.55. Sold yesterday for 2.75.
Pretty foolish move to sell ahead of the FOMC decision. All signs pointed to a quarter-point raise and that the market would accept it. At least I saw my error before 2pm!
See all current positions on the chart to the right.
#SPXcampaign Sold to Open $SPX March 27th 2345/2370 call spreads for 18.50, #ITMroll from spread I stopped on Monday.
Sorry, forgot to post this on Monday.
#SPXcampaign
Last night after the bell:
Sold to open $SPX March 20th 2385/2410 call spreads for 2.75
Sold to open SPX April 13th 2435/2460 call spreads for 1.60
Today:
Bought to close SPX March 24th 2255/2230 put spreads for .30. Sold for 1.35 on Feb 22nd.
Bought to close SPXPM March 17th 2410/2435 call spreads for .35. Sold for 1.60 on March 6th.
#VXXGame STO $SVXY March 17th 120 puts for .65 (expire Friday)
STO SVXY March 31st 110 put for 1.50
STO $UVXY April 7th 31 calls for .54
http://www.cboe.com/education/webcasts
#SPXcampaign Sold to Open $SPX April 13th 2260/2235 put spreads for 1.45, with SPX at 2363.
Also yesterday, bought to close SPX March 20th 2335/2360 call spreads for 21.50. Tried but didn’t manage to get filled on the roll, so I will wait for some strength to do it today.
#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.
If ever you are unable to see updated versions of items in the right-hand column of the Bistro site, refresh your browser or click “Home/REFRESH” at upper left.
#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.
