#VIXindicator Today we are hitting a place on the Indicator that is similar to Dec 5th, which you can see was right before another huge bullish pop. Provided no bad news smacks the market, we could see a very big run up on Friday, perhaps sparked by the Jobs Report.
Author Archives: Jeff
SPX trades today
#SPXcampaign
Bought to close $SPX Jan 9th 2190/2165 call spreads for .20
Stopped: Bought to close Jan 9th 2275/2300 call spreads for 4.50.
Both of the above were sold as an iron condor last Thursday for 4.25. Will look to roll again this week.
#ReverseRoll from yesterday’s stopped call spread:
Sold to open $SPX Jan 9th 2255/2230 put spreads for 2.85. I have not had luck with ATM put spreads yet, but I’ll keep trying.
SPX puts closed
#SPXcampaign In pre-market, Bought to close $SPX Jan 13th 2130/2105 put spreads for .20. Sold for 1.30 on Dec 12th.
SPX calls closed
#SPXcampaign Bought to close $SPX Jan 6th 2260/2285 call spreads for 3.35. Sold for 9.85 on Dec 23rd. Since this got close to 9.00 on this morning’s pop up, I was glad to get out cheaply by being patient. This will be easy to roll so I will do it tomorrow.
SPX roll
#SPXcampaign #CondorRoll #Rolling
We hit 2260 this morning so had to stop out of call spreads expiring tomorrow. I waited for the pullback off the highs:
Bought to close $SPX Jan 4th 2260/2285 call spreads for 4.00. Sold for 1.45 on Friday.
Sold to open $SPX Jan 23rd 2300/2325 call spreads for 2.55
Sold to Open $SPX Jan 23rd 2165/2140 put spreads for 1.60
SPX calls sold
#SPXcampaign Sold to Open $SPX Feb 3rd 2340/2365 call spreads for 1.50, with SPX at 2263.
SPX puts sold
#SPXcampaign Sold to Open $SPX Feb 3rd 2125/2100 put spreads for 1.45, with SPX at 2255. I know it’s an up day, but premium on the first day of the week is usually good on both sides. Working on a call spread, too.
Econ Calendar for week of 1/2/17
Options Expiration 12/30/16
#OptionsExpiration #SPXcampaign
Only two spreads expiring:
$SPX Dec 30th 2295/2320 call spreads, and 2160/2135 put spreads. These were sold as a condor for 3.85 on Dec 8th, as a roll from a stopped call spread.
THANK YOU all for participating in the first “beta” year of Options Bistro! I am excited for the new year and growing this site. HAPPY NEW YEAR
SPX puts stopped
#SPXcampaign This one hit my 3.00 stop, so I closed it on the bounce. Looking to #ReverseRoll it but got no fill before we started dropping again.
Bought to close $SPX Jan 19th 2175/2150 put spreads for 2.70. Sold for 1.45 on Dec 21st.
SPX puts stopped
#SPXcampaign Bought to close $SPX Jan 6th 2230/2205 put spreads for 6.30. Sold for 3.90 on Wednesday. Looking to #ReverseRoll into calls. Even if we rebound higher next week, I believe the upside momentum will remain stalled and call spreads are the safer bet.
RGLD covered calls
#CoveredCalls #Earnings
BTC RGLD Jan 20th 75 covered call for .20. Sold for 1.25 on Dec 13th
BTC RGLD Jan 20th 77.5 covered calls for .10. Sold for 1.83 (avg price)
Looking for a rebound in gold next month
SPX calls closed
#SPXcampaign Bought to close $SPX Jan 6th 2300/2325 call spreads for .20. Sold for 3.65 on Dec 9th.
SPX calls closed
#SPXcampaign Bought to close $SPX Jan 13th 2340/2365 call spreads for .20. Sold for 1.55 on Dec 12th.
SPX calls sold
#SPXcampaign Sold to Open $SPX Jan 27th 2325/2350 call spreads for 1.50, with SPX at 2243.
SPX calls sold
#SPXcampaign Sold to Open $SPX Jan 13th 2280/2305 call spreads for 4.70. An aggressive roll completing the replacement of the ITM position from Jan 3rd.
VIX Indicator and the SPX…
VIX Indicator and the SPX Chart have been updated
SPX condor-roll sold
#SPXcampaign #CondorRoll
Sold to Open $SPX Jan 9th 2165/2190/2275/2300 iron condors for 4.25. Fairly tight condor with only six trading days to expiry. 1.5x position size; partial roll from Jan 3rd call spread I exited on Tuesday.
SPX puts closed
#SPXcampaign Bought to close $SPX Dec 30th 2215/2190 put spreads for .35. Sold for 5.10 on Dec 8th. I do’t think this one is in danger, but I am closing to free up margin.
SPX calls closed
#SPXcampaign Bought to close $SPX Jan 13th 2350/2375 call spreads for .20. Sold for 1.50 on Dec 13th.
SPX calls sold
#SPXcampaign Sold to Open $SPX Jan 27th 2335/2360 call spreads for 1.30.
Two-day road trip on Tue/Wed took its toll on my trading… I missed far better opportunities to sell upside positions due to my limited access to the computer.
Options Expiration 12/28/16
#OptionsExpiration #SPXcampaign
— Expired —
$SPX 2225/2200 put spreads
$SPX 2280/2305 call spreads
SPX puts sold
#SPXcampaign I just sold this as additional premium, rolled from previously stopped call spreads. It’s an aggressive strike that I will have to stop if downside pressure continues much after today.
Sold to Open $SPX Jan 6th 2230/2205 put spreads for 3.90, with SPX at 2250.
SPX ITM roll
#SPXcampaign #ITMrolling
Earlier, Bought to close $SPX Jan 4th 2265/2290 call spreads for 6.80. Sold for 7.45 last Thursday.
Rolled: Sold to Open $SPX Jan 17th 2280/2305 call spreads for 7.00
SPX puts sold
#SPXcampaign Sold to Open $SPX Jan 27th 2150/2125 put spreads for 1.45, with SPX at 2262.
SPX ITM calls closed
#SPXcampaign #ITMrolling Earlier, Bought to close $SPX Jan 3rd 2265/2290 calls spreads for 11.00. Sold for 7.95 on Dec 16th. Under a bit of margin pressure now, so will look to roll later.
SPX puts closed this morning
#SPXcampaign Bought to close $SPX Jan 3rd 2190/2165 for .20. Sold for 1.40 on Dec 16th.
Bought to close $SPX Jan 6th 2160/2135 put spreads for .20. Sold for 1.40 on Dec 12th.
VIX Indicator and SPX Chart have been updated
Hope everyone is having a marvelous holiday!
https://optionsbistro.com/wp-content/uploads/2016/12/spx_position_chart_12_23_16.xlsx
Options Expiration 12/23/16
#OptionsExpiration #SPXcampaign #ShortStrangles #ShortCalls #Earnings #ContangoETFs
— Expiring —
DUST 80 call
REGN 347.5/400 strangle
SPX 2225/2200 put spreads
Have a wonderful Christmas everyone!
REGN roll
#ShortStrangles #Rolling #Earnings
STO REGN Jan 13th 350/405 strangle for 6.40. Replacing strangle that expires today.
DUST roll
#ContangoETFs #ShortCalls #rolling
BTC DUST Dec 30th 70 call for 1.80. Sold for 2.00 on 12/14
STO DUST Jan 13th 84 call for 2.00
SPX extra put spread sold
#SPXcampaign. Sold to Open $SPX Jan 6th 2225/2200 put spreads for 2.40.
Put spread foiled
#SPXcampaign Bought to close $SPX Dec 28th 2270/2245 put spread for 10.00. Sold for 7.00 on Tuesday. Couldn’t hang with this one… I am still bullish for next week, but the market has shown too much weakness to risk a max loss on this one.
SPX ITM roll
#SPXcampaign. Bought to close $SPX Dec 30th 2250/2275 call spread for 12.90. Sold for 12.15 on Dec 16th.
Rolled: Sold to Open $SPX Jan 6th 2260/2285 call spreads for 9.85.
Will add another small spread to make up the 3.05 difference.
SPX calls sold
#SPXcampaign Sold to open $SPX Jan 19th 2330/2355 call spreads for 1.60, with SPX at 2260.
SPX rolls sold
#SPXcampaign. These two spreads sold today:
Sold to Open $SPX Dec 28th 2280/2305 call spreads for 1.45
Sold to Open $SPX Jan 4th 2225/2200 put spreads for 2.20
SPX roll sold
#SPXcampaign. Got stuck in an unexpected 2-day pullback. Closed an ITM call spread yesterday and was waiting for strength to sell the roll. Instead, we are going down. So I’ve rolled to a less desirable spread, and need to sell more to make up for the hefty exit price.
Yesterday, Bought to close Dec 28th 2260/2285 call spreads for 11.45
Today, Sold to Open Jan 4th 2265/2290 call spreads for 7.45
SPX puts sold
#SPXcampaign. Sold to Open $SPX Jan 19th 2160/2135 put spreads for 1.30, with SPX at 2260.
Options Expiration 12/21/16
#OptionsExpiration #SPXcampaign
Expired: $SPX Dec 21st 2230/2205 put spreads. Sold for 3.25 on Dec 9th.
SPX ITM rolling
#SPXcampaign$SPX It is one week to expiration of my ITM Dec 28th 2260/2285 call spreads, so time to roll it.
Bought to close for 11.45
Selling the Jan 4th 2270/2295. Order in for 10.00 which should fill if we can rally back up to flat-on-day. Will then add an additional spread for around 1.45.
SPX ATM put spread sold
#SPXcampaign #ReverseRoll Sold to Open $SPX Dec 28th 2270/2245 put spreads for 7.00. This is more #Rolling to make up for stopped call spreads, and also offsets three ATM/ITM call spreads I have now. I believe the push to Dow 20,000 will keep us moving up into January, and then we’ll see some pullback.
SPX puts sold
#SPXcampaign Sold to Open $SPX Jan 19th 2175/2150 put spreads for 1.45, with SPX at 2270.
VIX Indicator and SPX Chart have been updated
For the SPX chart, this time I uploaded an excel file. It will download to your computer, and you can open it as Read-only.
https://optionsbistro.com/wp-content/uploads/2016/12/spx_position_chart_12_20_16.xlsx
DUST roll
#ContangoETFs #ShortCalls #Rolling.
BTC DUST Dec 23rd 70 calls for 4.80 and 3.00. Sold for 1.60.
STO DUST Feb 17th 107 call for 5.40.
STO DUST Jan 27th 107 call for 3.00
Closing out CMG
#Earnings #ShortPuts #ShortStrangles. These positions are rolls from a busted put sale in October. My profit from all the rolls has doubled my intended profit from the original trade, so I’m closing it all now to release margin.
BTC CMG Jan 6th 420 call for 1.20. Sold for 2.00
BTC CMG Dec 23rd 380 put for 1.60. Sold for 5.00.
BTC CMG Mar 17th 275 put for 1.43. Sold for 4.50.
SPX trades
#SPXcampaign Bought to close $SPX Dec 23rd 2210/2185 put spreads for .15. Sold for 2.25 on Dec 9th.
#CondorRoll. Sold to Open Jan 11th 2200/2225/2300/2325 iron condors for 7.25. A fairly aggressive trade on the belief we will rise more into the new year and then begin to consolidate/drop after the 1st. This is making up for stopped call spreads over the last couple weeks.
VIX drop
#Markets With the small pop up in VIX from Dec 12-14, and now it’s three-day drop, it signals a good chance for another bull run. Probably Dow 20,000 today; maybe SPX 2300 by New Year’s.
SPX calls sold
#SPXcampaign Sold to Open $SPX Jan 19th 2340/2365 call spreads for 1.50, with SPX at 2262.
Econ Calendar for week of 12/19
Options Expiration 12/16/16
#OptionsExpiration #CoveredCalls #ShortCalls #ShortPuts #Earnings #ContangoETFs
–Expiring–
CMG 420 call
DUST 90 calls
NFLX 110 and 115 puts
RGLD 75 covered call
CMG call
#Earnings #ShortStrangles #ShortCalls #Rolling
STO $CMG Jan 6th 420 call for 2.00. Replaces the 420 call expiring today, and offsets a couple short puts that are doing nicely.
SPX ITM rolling
#SPXcampaign #ITMrolling #Rolling $SPX
Bought to close Dec 23rd 2245/2270 call spreads for 13.00. Sold for 9.10 on Dec 7th.
Bought to close Dec 23rd 2260/2285 call spreads for 7.90. Sold for 8.40 on Dec 9th.
Rolled total debit of 17.50 to total credit of 21.50:
Sold to Open Dec 30th 2250/2275 call spreads for 12.15
Sold to Open Jan 3rd 2265/2290 call spreads for 7.95
Sold to Open Jan 3rd 2190/2165 put spreads for 1.40
SPX puts closed
#SPXcampaign Bought to close $SPX Dec 23rd 2175/2150 put spreads for .20. Sold for 1.55 on Dec 7th.
SPX puts closed
#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.
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.
