#SPXcampaign Bought to close $SPX Dec 23rd 2090/2065 put spreads for .30. Sold for 1.40 on Dec 6th. Forced this to close early for margin.
Author Archives: Jeff
VIX Indicator and SPX Chart…
VIX Indicator and SPX Chart have been updated
DUST roll
#ContangoETFs #Rolling #ShortCalls
BTC DUST Dec 16th 63 call for 5.00. Sold for 5.25 on Nov 11th.
STO DUST Jan 20th 90 call for 5.50
SPX calls sold
#SPXcampaign Earlier, sold to open $SPX Jan 13th 2350/2375 call spreads for 1.50, when SPX was at 2267.
SPX trades
#SPXcampaign From yesterday…
Bought to close $SPX Dec 15th 2125 short calls for .15. Closed early for margin.
Sold to Open $SPX Jan 13th 2175/2150 put spreads (standard campaign trade)
Sold to Open $SPX Jan 13th 2310/2335 call spreads for 4.00. Partial roll from 8.00 stopped spread.
Today:
Sold to Open $SPX Jan 13th 2210/2185 put spreads for 4.25. Second half of roll from 8.00 stopped spread.
Posting updated chart in a moment. Good luck following all the arrows!
DUST call
#ContangoETFs #ShortCalls STO DUST Dec 30th 70 call for 2.00.
SPX calls spreads stopped
#SPXcampaign Stopped the following spreads on the Fed volatility.. both a bit too early and not at the lows. I have several rolls I need to sell, and will start doing so soon at the highs and lows of the swings.
Bought to close $SPX Dec 23rd 2275/2300 call spreads for 8.75. Sold for 1.40 on Nov 25th.
Bought to close $SPX Dec 30th 2280/2305 call spreads for 8.00. Sold for 1.30 on Nov 29th.
SPX ITM roll
#SPXcampaign Bought to close $SPX Dec 21st 2250/2275 call spreads for 14.50. Sold as part of a #CondorRoll for 11.90 on Dec 9th. Rolling to the following condor, moving call short up 10 points:
Sold to Open $SPX Dec 28th 2200/2225/2260/2285 iron condors for 15.15.
This is the #ITMroll strategy for call spreads: roll with minimum of one week left to expiration… slide your short 5 or 10 points up make up the difference by adding a put spread. I will do this again next week if the call side is still threatened.
VIX Indicator and SPX Chart have been updated
My SPX trades got hairy last week. I cling on waiting for the pullback.
SPX calls stopped
#SPXcampaign Bought to close $SPX Dec 23rd 2290/2315 call spreads for 6.30. Sold as part of an iron condor for 7.70 last Thursday. Provided the 2225/2200 put spread survives, this #CondorRoll will profit. But it was a roll to begin with so the net position is still underwater. Will look to sell a roll at a later date; to difficult at these levels to sell a roll… while we are extremely overbought, the SPX won’t stop going up, and I do not want to sell more call spreads to only have to stop them in a few days. Selling puts is too difficult with the index so high. If we get any pullback this week I will be stopping some more call spreads and selling put spreads.
SPX calls stopped
#SPXcampaign Bought to close $SPX Jan 6th 2280/2305 call spreads for 10.40. Sold last week for 1.40. I’m waiting to roll this as I do not believe we are finished going higher.
A few trades for margin gains
#ShortPuts #LongStock #CoveredCalls
STC $FB stock for 121.00. Sold partial position from assignment in October
BTC $FB Dec 16th 115 puts for .08. Sold for 1.64 on Nov 2nd
BTC $REGN Dec 16th 362.5 put for .50. Sold for 7.60 on Dec 2nd
STO $RGLD Jan 20th 75 covered call for 1.25
SPX puts closed
#SPXcampaign Bought to close $SPX Dec 30th 2080/2055 put spreads for .20. Sold for 1.30 on Nov 28th. Also, working on stopping a call spread with a 2280 short.
Market Divergence
#Market NDX up 1.5% and moving…. SPX peaked but now dropping… RUT peaked and now negative.
Financials down, Gold down.
And VIX up slightly.
Is tech coming back?
SPX puts sold
#SPXcampaign Sold to Open $SPX Jan 13th 2130/2105 put spreads for 1.30, with SPX at 2254.
SPX puts sold
#SPXcampaign Sold to open $SPX Jan 6th 2160/2135 put spreads for 1.40, with SPX at 2257. This trade is for last week’s campaign. This week I’m selling Jan 13th spreads.
SPX calls sold
#SPXcampaign Sold to Open $SPX Jan 13th 2340/2365 call spreads for 1.55, with SPX at 2262.
SPX Friday trades
#SPXcampaign #Rolling #CondorRoll $SPX
Bought to close Dec 15th 2250/2275 call spreads for 10.30.
Rolled to: Dec 23rd 2185/2210/2260/2285 iron condors for 10.65
Bought to close $SPXPM Dec 16th 2240/2265 call spreads for 15.10
Rolled to: $SPX Dec 21st 2205/2230/2250/2275 iron condors for 15.15
The above spreads are already ITM today… I will roll them at a minimum of one week before expiration. This next roll was caused by mistakenly closing a spread on Thursday, which turned out to work in my favor as I was able to replace it with a higher spread:
Bought to close Jan 6th 2290/2315 call spreads for 3.60 (Thursday)
Sold to open Jan 6th 2300/2325 call spreads for 3.65 (Friday)
Also Friday:
Bought to close Dec 23rd 2095/2070 put spreads for .20
Bought to close Dec 30th 2060/2035 put spreads for .20
Worst of all, expiring with MAX loss was Dec 9th 2225/2250 call spreads; something you never want to have happen, but a face-ripping rally combined with too much time needed away from my desk led to this. I will look to be selling aggressive rolls when the upside momentum shows clear signs of slowing (or reversing).
Let me know however I can help with your trades or rolls.
Econ Calendar for week of Dec 12
It’s another FOMC Wednesday this week!
DUST calls
#ContangoETFs #ShortCalls Earlier, STO DUST Dec 23rd 70 calls for 1.50 and 1.80
RH earnings trade
#Earnings #ShortStrangles
BTC RH Dec 9th 32 puts for .05 to avoid possible assignment. Will let the 45 calls expire. Strangle sold yesterday for .90.
SPX heavy
#SPXcampaign Busy day, heading out of town in a few. Will post my SPX rolls this weekend. All-in-all, a rough week, and now I’m am very short this market with rolled call spreads. It will all come back to me once we have any kind of pullback.
REGN roll
#ShortPuts #StrangleRoll #ShortStrangles
BTC REGN Dec 9th 380 put for 6.55. Sold for 5.00 on Nov 28th
STO REGN Dec 23rd 347.5/400 strangle for 6.55
POLL test
Test of POLLS
Earnings results
#Earnings #ShortStrangles #ShortPuts AVGO flies high as usual, but RH takes a bigger than normal dump. My 32 puts are on the edge. Will decide later if I have to roll or take assignment.
My backyard — the Portland blizzard has begun…
RH earnings
#Earnings #ShortStrangles Sold to Open $RH Dec 9th 32/45 strangles for .90. Biggest UP move: 12.7%, Biggest DOWN move: -21.2%, Average move: 7.0%. These strikes are each 16.9% OTM. RH usually moves up on earnings; it’s drop of -21,2% last June was an outlier; it’s 2nd biggest drop was only -4.3%.
SPX reverse roll
#SPXcampaign #ReverseRoll Flipped this one without changing the expiration date.
Bought to close $SPX Dec 30th 2265/2290 call spreads for 7.50. Sold for 1.55 last Friday.
Sold to Open $SPX Dec 30th 2215/2190 put spreads for 5.10, using 1.5x position size.
AVGO earnings
#Earnings STO Dec 9th 162.5 puts for 1.35. Biggest UP move: 14.7%, Biggest DOWN move: -2.2%, Average move: 6.2%. This trade is -5.0% OTM. Trade is bullish since it almost always goes up on earning, and if not it only goes a little bit down.
SPX calls rolled
#SPXcampaign Bought to close $SPX Dec 15th 2245/2270 call spreads for 10.10. Sold as part of a #CondorRoll for 5.15 on Nov 23rd.
Rolled: Sold to Open $SPX Dec 23rd 2200/2225/2290/2315 iron condors for 7.70, with 1.25x position size.
VIX continuing to rise as SPX rises
Could it be people are so happy about profits, but also scared that it could all get destroyed quickly? Too they’re buying puts en masse?
SPX roll sold
#SPXcampaign #CondorRoll
Yesterday, I stopped the Dec 23rd 2260/2285 call spreads for 5.35. Today, I rolled:
Sold to open $SPX Dec 30th 2135/2160/2295/2320 iron condors for 3.80, with 1.5x position size.
Puts expired, puts closed
#SPXcampaign #OptionsExpiration
Expired last night: $SPX Dec 7th 2175/2150 put spreads, sold for 2.70 on Nov 30th.
After this morning’s bell: Bought to close $SPX Dec 23rd 2085/2060 put spreads for .20. Sold for 1.40 on Nov 22nd.
Upside warning re-validated
#VIXIndicator. On the chart below, the green/red candles are the VIX, and the gray candles are the SPX. The cyan arrows indicate the initial Upside Warning on 11/21, and then today. The smaller (red) Fib lines were not an official correction; just the weakness from last week. The 78.6% Fib line is at 12.71, and with today being the third consecutive day below that line, it is a “mini” Upside Warning, thus validating the one we were already under. I’ve seen in the past that these “mini” warnings almost always mean a follow-through of the original rally.
SPX Bam!
#SPXcampaign #VIXIndicator As I study and analyze the past performance of the VIX Indicator, I am struck at how resilient the Upside Warning is. It is a better indicator than the Downside Warning. Today we again saw its potency. After weakness last week failed to cancel the warning, we saw three consecutive days of a much lower VIX. This provides further validation of the original Upside Warning. (I will post a chart).
My account experienced a substantial drawdown today as I wasn’t able to keep up with this sharp move. I am comfortable in the fact that I know I can roll as necessary and I will make it back on the next significant pullback in the market. That could be a month or more away, but it will happen.
I stopped out on three call spreads. I have only rolled one thus far.
Bought to close $SPX Dec 9th 2230/2255 call spreads for 11.20. Sold for 1.30 on Nov 8th.
Rolled: Sold to Open $SPX Dec 23rd 2245/2270 call spreads for 9.10, and Dec 23rd 2175/2150 put spreads for 1.55. I stayed at same position size for the calls and 1.5x size for the puts, so the roll resulted in a .13 credit. The call spread is pretty close to the money, but since it is 2 weeks DTE it is more manageable than the Dec 9th spread that it replaces.
Bought to close $SPX Dec 15th 2255/2280 call spreads for 3.85. Sold for 1.30 on Nov 17th.
Bought to close $SPX Dec 23rd 2260/2285 call spreads for 5.35. Sold for 1.70 on Nov 21st.
Both of these hit my stop of 20-points OTM. I will look to roll this week.
I am still left with four call spreads that have past my stop levels. Will decide how to manage depending on how the week plays out.
How is it that UVXY…
How is it that UVXY is flat on the day? VIX up?
SPX close calls and sell calls
#SPXcampaign Bought to close $SPX Dec 9th 2245/2270 call spreads for .10. Sold for 1.25 on Nov 10th.
Sold to Open $SPX Jan 6th 2290/2315 call spreads for 1.40, with SPX at 2224. Those are the highest strikes I have ever sold on SPX.
Closing trades for margin
#ShortPuts #ShortCalls #LongStock #ShortStock #ShortStrangles
Closing a few trades earlier than planned due to upside pressure on my margin. Fortunately, all but the REGN stock is profitable, but that one’s a biggie (sucks to lose due to downside pressure on a stock while the indices are breaking new highs). I have lost fights with REGN before, I should know better. But I will look to start selling some options once things calm down.
STC REGN long stock for 351.25. Assigned at 415.00 earlier this week.
BTC AZO Dec 16th 720/830 strangles for 1.95. Sold for 3.90 on Monday.
BTC DUST short stock for 48.00. Assigned at 50.00 on Nov 18th.
STC NFLX long stock for 125.05. Assigned at 122.00 on Nov 11th.
Bullish VIX Indicator
#VIXIndicator #markets
On one hand, the VIX is very low and some bounce should be expected. But on other hand, today could be considered a “mini” Upside Warning, with three consecutive days under the 78.6% Fib line from the 11/21 low to the 12/1 high. I believe we are in for continued move up, although I would be surprised if the velocity is very strong.
SPX calls sold
#SPXcampaign Sold to Open $SPXPM Dec 16th 2240/2265 call spreads for 2.00, when SPX was at 2213.
New all-time highs this morning.
VIX Indicator and SPX Chart have been updated
Another new low on the VIX today.
CMG put
#ShortPuts #ShortStrangles #Earnings
Stuck with a Dec 23rd 380 put into today’s plunge. Joining the party in the March trade:
STO CMG March 17th 275 put for 4.45
NFLX flying
NFLX flying
REGN early assignment
#Assignment #EarlyAssignment #shortputs
Assigned 100 shares of REGN from Dec 9th 415 short put. Was planning to roll by Friday but someone got greedy. I may hold the stock or roll it back to a short put or short strangle.
SVXY calls sold
#VXXGame #ShortCalls This has worked beautifully over the past year. I don’t play SVXY as much as I used to, but when we are at new highs and the rally slows down, selling juicy premium in calls is golden.
STO SVXY Jan 20th 95 call for 4.35
STO SVXY Mar 17th 100 call for 7.00
SPX puts sold
#SPXcampaign Sold to Open Jan 6th 2090/2065 put spreads for 1.40, with SPX at 2204.
VIX Indicator & SPX Chart have been updated
#Markets The Upside Warning continues as we hit a new VIX low at the close.
Options Expiration 12/5/16
#OptionsExpiration #spxcampaign
— Expiring —
SPX 2230/2250 call spreads, sold for 1.55 last Tuesday
SPX 2175/2150 put spreads, sold for 2.15 last Tuesday
SPX puts closed
#SPXcampaign, at the bell, Bought to Close $SPX Dec 15th 2065/2040 put spreads for .20. Sold for 1.40 on Nov 18th.
AZO earnings
#Earnings #ShortStrangles
Sold to open $AZO Dec 16th 720/830 strangles for 3.90. 13-day moves after earnings over last 3 years: Biggest UP move: 6.5%, Biggest DOWN move: -2.5%, Average move: 2.5%.
These strikes are -7.7% and +6.4% OTM respectively.
SPX calls sold, puts closed
#SPXcampaign Sold to Open $SPX Jan 6th 2280/2305 call spreads for 1.40, with SPX at 2206.
Bought to close $SPX Dec 15th 2035/2010 put spreads for .20. Sold for 1.30 on Nov 16th.
Econ calendar week of 12/5/16
#Markets Blue stars indicate “market-moving indicators.” Pretty light schedule this week.
Options Expiration 12/2/16
#OptionsExpiration #SPXcampaign #ShortCalls
— Expiring —
REGN 375 call
SPX 2100/2075 put spreads
SPX 2225/2250 call spreads
REGN roll
#Earnings #Rolling #ShortPuts #inversestrangle
BTC $REGN Dec 2nd 380 put for 7.25. Sold for 2.40 on Monday.
Rolled to: REGN Dec 16th 362.5 put for 7.60.
The good news is my 375 call is expiring today, which I sold as a roll for 55.65 on Nov 10th!
SPX bonus calls sold
#SPXcampaign Sold to Open $SPX Dec 9th 2225/2250 call spreads for 1.50. Should expire next Friday.
SPX more puts stopped
#SPXcampaign Bought to close $SPX Dec 2nd 2190 puts for 2.15. Sold as part of the 2190/2165 put spread for 2.55 on Tuesday. Another one down with a small profit.
SPX puts stopped
#SPXcampaign Closing this one with a small profit, which was sold as an aggressive roll. May roll later today, or wait until next week.
Bought to close $SPX Dec 9th 2190/2165 call spreads for 7.70. Sold for 8.25 on Nov 21st.
SPX calls closed and calls sold
#SPXcampaign Bought to close $SPX Dec 7th 2240/2265 call spreads for .20. Sold two days ago for 1.75.
Sold to Open $SPX Dec 30th 2265/2290 call spreads for 1.55, with SPX at 2195.
Jobs Report
178,000 jobs added in November
Unemployment 4.6%, lowest since August 2007
Labor participation down a bit to 62.7%
UE6 rate 9.3%, lowest since 2008
VIX Indicator and SPX Chart have been updated
Don’t forget, Jobs Report is an hour before the open, 8:30am ET.
SPX puts sold
#SPXcampaign Sold to Open $SPX Dec 30th 2060/2035 put spreads for 1.45, with SPX at 2187.
SPX extra puts sold
#SPXcampaign Since I sold Dec 7th calls this morning, just sold some puts to offset them:
Sold to Open $SPX Dec 7th 2175/2150 puts for 2.70, with SPX at 2205.
I’m now trading in a pretty tight range, 2190 to 2230, through Friday the 9th. I’m hoping strong moves in either direction wait until after that! But, #Jobs report is this Friday…
TIF closed
#Earnings BTC $TIF Dec 2nd 73 puts for .01. Sold with 73/85 strangle for 1.14 on Monday. Total trade closed for .11
SPX calls sold
#SPXcampaign Sold to Open $SPX Dec 7th 2240/2265 call spreads for 1.75. These should expire next Wednesday. Completion of my rolls from stopped call spread yesterday.
New all time highs on SPX this morning.
SPX rolling out calls
#SPXcampaign I was hoping for another day of weakness to get out of an ATM call spread, but the push back to 2210 signals tomorrow could go either way. So I’ve closed it and am now selling several short-term spreads as rolls. All spreads are same position size, so I want the new ones to add up to at least the 7.55 I spent for the stop.
Bought to close $SPX Nov 3oth 2200/2225 for 7.55. Sold for 1.30 on Nov 3rd.
Sold to Open $SPX Dec 2nd 2190/2165 put spreads for 2.55
Sold to Open $SPX Dec 5th 2230/2250 call spreads for 1.55
Sold to Open $SPX Dec 5th 2175/2150 call spreads for 2.15
Need one more spread for 1.30 or more.
SPX puts closed, calls sold
#SPXcampaign Bought to close $SPX Nov 30th 2170/2145 put spreads for .20. Sold for 2.50 on Nov 21st.
Sold to Open $SPX Dec 30th 2280/2305 call spreads for 1.30, when SPX was at 2206.
TIF calls closed
#Earnings Bought to close $TIF Dec 2nd 85 calls for .10. Sold yesterday as part of the 73/85 strangles for 1.14. Order in to close the puts for .01.
SPX puts sold
#SPXcampaign Sold to Open $SPX Dec 30th 2080/2055 put spreads for 1.30, with SPX at 2206.
RGLD covered calls
#Earnings #StockTrades #CoveredCalls
STO $RGLD Dec 16th 75 call for .90
STO $RGLD Jan 20th 77.5 call for 1.65
TIF earnings
#Earnings #ShortStrangles Sold to Open $TIF Dec 2nd 73/85 strangles for 1.14. Over last 3 years, 5-days after earnings: Biggest UP move: 10.1%, Biggest DOWN move: -5.1%, Average move: 4.8%. The put is -6.4% OTM, and the call is 9.0% OTM.
CMG roll
#Earnings #ShortStrangles #Rolling
Rolling up CMG short put. Also short the Dec 16th 420 call
BTC CMG Dec 16th 350 put for .80. Sold for 10.80 on Nov 1st.
STO CMG Dec 23rd 380 put for 5.00.
SPX puts sold
#SPXcampaign This is from last week’s campaign but I couldn’t get it filled on Friday:
Sold to Open $SPX Dec 23rd 2095/2070 put spreads for 1.30, with SPX at 2207.
REGN puts sold
#Earnings #InverseStrangle #ShortPuts
Currently short the Dec 2nd 375 call and Dec 9th 415 put (inverse strangle). Selling some puts on the spike down this morning:
STO REGN Dec 2nd 380 put for 2.40
STO REGN Dec 9th 380 put for 5.00
Options Bistro 