#OptionsExpiration #Earnings #ContangoETFs #ShortStrangles #ShortPuts #ShortCalls #CoveredCalls #VXXGame
— Expiring —
BBY 38 and 38.5 puts
DUST 55 call
DUST 35 puts
LOW 65/72 strangles
RGLD 82.5 covered call
UVXY 45 call
— Assignment —
DUST 50 call, taking short stock (only because I forgot to roll)
#Earnings #ShortStrangles
BTC $REGN Nov 18th 400 put for 2.50
STO $REGN Nov 25th 390 put for 3.80
#SPXcampaign Bought to close $SPX Nov 23rd 2215/2240 call spreads for .20. Sold for 1.30 on Oct 26th.
#SPXcampaign Sold to open $SPX Dec 15th 2065/2040 put spreads for 1.40, with SPX at 2186.
#ContangoETFs BTC DUST Nov 18th 60 call for .25. Sold for 3.50 on Oct 4th. Not risking another big jump tomorrow.
#ContangoETFs Replacing some DUST calls I had to stop out of on Monday. Highest strikes:
STO DUST Dec 16th 90 calls for 1.30 (thanks @Ramie77)
STO DUST Jan 20th 80 call for 5.00
#SPXcampaign Sold to Open $SPX Dec 15th 2255/2280 call spreads for 1.30, with SPX at 2182.
Back on October 13th I suggested an in-the-money put spread that some of you followed (original post here: https://optionsbistro.wordpress.com/2016/10/13/overcoming-fear/).
The trade was the Nov 25th 2175/2150 put spread for 14.00, when SPX was at 2123. Since that day, SPX got to a low of 2083 and a high of 2184 (today). So it is not ITM at the moment. This makes the decision on whether to roll a bit tough. With the current bullish trend, it is likely to expire worthless. But if we breakdown and go below 2175 again, the value of the spread will shoot up quickly against you.
So today you have three options:
1. Close the trade and take a nice profit.
2. Roll the trade into the following week for even or slight credit. You will be able to move your strikes 10 points lower, to the Dec 2nd 2165/2140 spread. This is basically what we’d be doing if we were still ITM (although not as easily). You can also choose to roll it to a further week at lower strikes.
3. Stick with the trade for more upside and a cheaper exit next week, or expire worthless.
I will probably be taking option 3, but watching closely through tomorrow. If this breakout fails, I will probably be rolling it before the weekend.
Questions welcome, and let us know what you do with the trade! #SPXcampaign #FearTrade #ITMrolling
#SPXcampaign
Bought to close $SPX Nov 23rd 2085/2060 put spreads for .10. Sold for 3.55 on Election Day.
Bought to close $SPX Dec 9th 1975/1950 put spreads for .20. Sold for 1.40 on Nov 9th.
#Earnings Sold to Open $BBY Nov 18th 38 puts for .84. Bullish trade. BBY was up 20% on last earnings; chart looks bullish. Last three years’ moves:
Aug. 23, 2016 BO 19.60%
May 24, 2016 BO -7.42%
Feb. 25, 2016 BO 2.44%
Nov. 19, 2015 BO -2.10%
Aug. 25, 2015 BO 12.57%
May 21, 2015 BO 3.93%
March 3, 2015 BO 1.42%
Nov. 20, 2014 BO 6.97%
Aug. 26, 2014 BO -6.84%
May 22, 2014 BO 3.43%
Feb. 27, 2014 BO -0.96%
Nov. 19, 2013 BO -10.97%
#SPXcampaign #ReverseRoll
Sold to Open $SPX Dec 2nd 2100/2075 put spreads for 1.45. This is another roll for the Nov 17th call spreads I had to close yesterday.
#SPXcampaign Sold to Open $SPX Dec 15th 2035/2010 put spreads for 1.30, with SPX at 2175.
Bought to close $SPX Nov 25th 2180/2205 call spreads for 7.80. Sold for 9.50 on Nov 9th as a roll. Profit in this one, but because it was a roll I will need to roll it again. I will look to do so later today.
#SPXcampaign Bought to close $SPX Dec 9th 1875/1850 put spreads for .10. Sold as part of a #CondorRoll for 2.10 on Nov 3rd.
#VIXIndicator #Market If we close today at current VIX levels the Downside Warning will be canceled and we could be on our way to new highs. We had a spike up like this last Thursday too, but then it failed… two hours left…
#SPXcampaign Bought to close $SPX Dec 2nd 1925/1900 put spreads for .10. Sold as part of a #CondorRoll for 2.10 on Oct 28th.
#Earnings #ShortStrangles STO $REGN Nov 25th 420 put for 5.00. Selling against my woefully ITM short call.
#Earnings STO $LOW Nov 18th 65/72 strangle for 1.03. Biggest UP move: 6.4%, Biggest DOWN move: -6.2%, Average move: 3.1%. These strikes are each 5.1% OTM.
#SPXcampaign Bought to close $SPX Nov 25th 2025/2000 put spreads for .20. Sold for 2.05 on Election Day.
Time for tech to bounce?
#SPXcampaign Bought to close $SPX Dec 2nd 1945/1920 put spreads for .20. Sold for 1.45 on Nov 1st.
#ContangoETFs Followed @optioniceman‘s idea…
STO DUST Nov 18th 35 puts for .25
STO DUST Nov 25th 35 puts for .60
#Earnings Sold to Close $DAL stock for 47.00. Originally assigned at 47.00 back in April. The remnant of a larger earnings trade that sat like a lump in my account as DAL dipped as low as 32.60. In the end, the trade wound up with a $64 profit. Too long for too little!
#ContangoETFs Got too heavy in short calls on DUST, and now with the relentless plunge of Gold I cannot continue to roll at this time. I am closing a few ITM or ATM calls with losses this morning. I will have to work to build back the losses at a later date when my margin issues relax.
I’m getting hit simultaneously with positins in FB and NFLX being overdone to the downside, while my SPX spreads are being pressured to the upside. All manageable now, but until more time passes and/or tech starts its rebound, I’ll have to take my lumps on these naked DUST calls until I have the powder to re-enter.
#Earnings #StrangleRoll After getting stretched to the upside, it is now the put side of tech trades in trouble. Clearly overdone move, in my view; and overreaction to Trump’s past comments about AMZN, FB, AAPL, etc.
BTC NFLX Dec 15th 115 put for 6.60 (sold for 2.10 avg, still have another)
STO NFLX March 90/135 strangle for 6.86
#SPXcampaign Sold to Open $SPX Dec 15th 2250/2275 call spreads for 2160, with SPX at 2168.
–Expiring–
JAZZ 95/115 strangles
NFLX 135 call
PRGO 93 calls
REGN 310 and 410 puts
SPX 1925/1900 put spreads
SVXY 55/85 strangles
–Assigned–
NFLX 122 put, taking some stock
#Earnings BTC $DIS Nov 11th 95 calls for 2.75. Sold yesterday in the 92/95/98 IB for 2.02.
#ContangoETFs Started the day OTM but never looked back. I closed these rather than take the stock short. Will sell rolls next week.
BTC DUST Nov 11th 50 call for 6.40
BTC DUST Nov 11th 48 calls for 8.40
#ContangoETFs #Rolling
BTC DUST Nov 18th 55 call for 4.40
STO DUST Dec 16th 70 call for 5.00
Also followed @Ramie77 STO DUST Nov 25th 70 call for 1.40
#ContangoETFs #Rolling
BTC $DUST Nov 18th 50 call for 5.00. Sold for 1.55 on Monday.
STO $DUST Dec 16th 63 call for 5.25
Gold tanking, DUST flying.
#SPXcampaign Sold to Open $SPX Dec 9th 2025/2000 put spreads for 1.50, with SPX at 2161.
#Earnings Put in orders to buy stock around the expected move, so bought two batches, at 92.50 and 92.00. Will sell tonight if there’s a recovery. Otherwise hold it.
#Earnings STO $DIS Nov 11th 92/95/98 iron butterfly for 2.03
#Earnings #shortstrangles
STO $CMG Dec 16th 420 call for 6.00. Paired with a 350 put, as a roll-out from busted earnings trade last month.
#Earnings STO $NFLX Dec 16th 115 put for 3.15, adding to the position.
NFLX, wow! FB, GOOGL, AAPL, AMZN, wow!
#Earnings BTC $DISH Nov 11th 53/59 strangles for .25. Sold for 1.30 on Tuesday.
Also, BTC $PRGO Nov 11th 75 puts for .05. Sold yesterday in the 75/93 strangles for 1.40. Order in to close the call side.
NDX down strong… others following?
#Earnings This one was looking good until Hillary went and lost the election. Now Biotech soaring.
Last Thursday I sold the REGN Nov 11th 310/372.5 strangle for 6.40. All looked peachy until it started rocketing. So I’m rolling a strike higher and will sell puts against it. We’ll call it the #FuzzTrade
BTC REGN Nov 11th 372.5 call for 55.00
STO REGN Dec 2nd 375 call for 55.65
STO REGN Nov 11th 410 put for .85 (expires tomorrow)
STO REGN Nov 18th 400 put for 3.25
#SPXcampaign In the pre-market, the following spreads closed:
Bought to close $SPX Nov 17th 1990/1965 put spreads for .20. Sold for 1.45 on Oct 20th.
Bought to close $SPX Dec 2nd 1895/1870 put spreads for .20. Sold for 1.40 last Thursday.
#SPXcampaign Sold to Open $SPX Dec 9th 2245/2270 call spreads for 1.25, with SPX at 2176.
#Earnings Strangles on JAZZ, DISH, PRGO all working.
#SPXcampaign #OptionsExpiration
–Expiring–
SPX Nov 9th 1990/1965 put spreads. Sold for 1.90 on Friday.
SPX Nov 9th 2025/2000 put spreads. Sold for 1.30 on Monday.
SPX Nov 9th 2100/2075 put spreads. Sold for 4.50 on Monday.
#SPXcampaign Couldn’t get a break again, fourth day own a row I’ve been hit with ATM stops. This is all due to my aggressive selling of short-term, near-the-money spreads… these are NOT the usual SPX campaign trades.
Bought to close $SPX Nov 9th 2165 calls for 3.90. Sold as the 2165/2180 call spreads on Monday for 1.75.
Bought to close $SPX Nov 11th 2165/2190 call spreads for 9.35. Sold for 1.70 on Nov 4th.
Working on rolls for both. Plan to sell aggressive call spreads.
#Earnings Sold to Open Nov 11th $PRGO 75/93 strangles for 1.40. Biggest UP move: 7.3%, Biggest DOWN move: -10.2%, Average move: 5.6%. These strikes are +10.2% and -11.1% OTM
#SPXcampaign Sold to Open $SPX Dec 9th 1975/1950 put spreads for 1.40,m with SPX at 2130. Back to my normal spread selling, as several extra spreads will be expiring today.
#CoveredCalls #Earnings #LongStock Glad to see this stock position recovering, after being assigned shares then watching it dip to mid 60’s.
STO $RGLD Nov 18th 82.5 covered call for .75
#SPXcampaign I went to bed thinking I’d be rolling under water put spreads…. instead my close orders are filling.
Bought to close $SPX Nov 11th 1980/1955 put spreads for .20. Sold for 1.30 on Oct 14th.
Bought to close $SPX Nov 17th 1960/1935 put spreads for .20. Sold for 1.50 on Oct 17th
Looks like we’re in for a bumpy ride.
#SPXcampaign I included positions traded today as well. I have not yet connected all the rolls with arrows.
This is my third day straight of closing spreads close to expiry at the worst price of the day. It is quite frustrating, but part of trading. It means I will have to sell more roll-spreads to make up for the huge premium I paid to exit.
I have closed my Nov 9th 2150/2175, but will be leaving on the Nov 9th 2165/2180. One reason is that it is only a 15-point spread, which will mean even if it’s fully ITM it will be easy to roll to my usual 25-point width.
If Trump somehow pulls it out, OR if it is too close to call, we’ll go down… question is, how far and how fast? I want to be clear that I’m not commenting on my political leanings. It is just that the markets have made it clear: a Hillary win is bullish, Trump is bearish. And it seems very likely Clinton will win. If she does, I believe we will rally but I will be looking to fade it. If VIX drops below 13.59 (from the #VIXIndicator), I will look to be bullish.
#SPXcampaign The Comey letter on Sunday changed everything, so call spreads sold Friday are getting crushed. I’m rolling this one before it gets ATM, as I cannot risk an explosive rally tomorrow.
BTC $SPX Nov 9th 2150/2175 call spreads for 12.75. Sold for 2.15 on Friday.
STO $SPX Nov 23rd 2085/2060 put spreads for 3.55, 2x position size, as partial roll. I would like to sell the call side of this roll tomorrow.
#Market #SPXcampaign If Hillary wins tonight, there is the chance of a very large explosion of a rally tomorrow. I am thus rolling out of my Nov 9th 2150/2175 call spread. Been trying to get out since we went positive, but no breaks yet in the move up.
#ContangoETFs
STO DUST Nov 11th 48 calls for 1.10
STO DUST Jan 20th 60 call for 4.50 (highest strike)
#SPXcampaign Sold to Open $SPX Dec 9th 2230/2255 call spreads for 1.30, with SPX at 2132.
#Earnings STO $JAZZ Nov 11th 95 puts for .90. Working to sell 115 calls, too.
Biggest UP move: 5.2%, Biggest DOWN move: -7.4%, Average move: 2.9%. This trade is 9.5% OTM.
#Earnings STO $DISH Nov 11th 53/59 strangles for 1.30. Biggest UP move: 6.0%, Biggest DOWN move: -6.3%, Average move: 2.6%. These strikes are both 5.3% OTM.
#SPXcampaign While working my order to exit the 2120 calls with SPX in the 2125 area, my doorbell rang so I went and answered a question from my neighbor. About 3 minutes away from the computer caused about a $3K loss. Market took off and now I’m letting it exercise. I continue my streak of horrible exits from ATM/ITM spreads!
Exercised: Nov 7th 2120/2140 call spreads for 11.50. Sold Friday for 1.35.
Sold two put spreads expiring Wednesday as a partial roll:
STO Nov 9th 2100/2075 put spreads for 4.50
STO Nov 9th 2025/2000 put spreads for 1.30.
Also, expiring today:
Nov 7th 2065/2040 put spreads, sold Friday for 1.45.
Glad I waited before rolling my 2120/2140 spread. Maybe I’ll even get out for free…
Did Charles Evans (Fed) say something scary?
#contangoetfs STO DUST Nov 18th 50 calls for 1.55
STO DUST Dec 9th 60 call for 1.90 (thanks, @Ramie77)
#SPXcampaign #PlayingWithFire
Sold to Open $SPX Nov 9th 2165/2180 call spreads for 1.75. Already short a 2150 for that day, and a 2120 today. Thought I could sneak out of today’s expiration but looks like I will need to roll.
#Earnings Over last 3 years, Biggest 5-day UP move: 15.6%, Biggest 5-day DOWN move: -8.7%, Average 5-day move: 6.4%.
I’m looking to sell Nov 11th 1275 puts for 3.50-4.00. This strike is about 12% OTM, so far above the average move, decently above the largest down move. TOS has expected move at +/- 6.1%.
Due to larger historical moves up, I’ll skip the call side or consider farther OTM.
VIX Indicator and SPX Chart have been updated
Dow Futures up over 200 on FBI’s Sunday memo
http://www.npr.org/sections/thetwo-way/2016/11/06/500929164/comey-we-have-not-changed-our-conclusions-as-fbi-finishes-clinton-email-review
#OptionsExpiration What a week!
–Expiring w/max profit–
$DUST 50 calls
$HLF 50 puts
$SPX 2065/2040 put spreads
–Expiring w/max loss–
$APA 57.5/60/62.5 iron butterfly
–Assignment–
$FB 122,123,124,125,126 puts – 100 short shares covered, 500 long shares assigned
Very close to breaking the 36-year record on SPX (9 straight days DOWN), and 27-year record on the VIX (9 straight days UP)… first time EVER on the VIX.
#Earnings BTC $FB Nov 4th 130 calls for 9.00. This is the #IronButterfly sold for 6.20 on Wednesday. Taking a loss.
BTC FB Nov 4th 121 puts for .10, to avoid assignment. Sold for .80.
I will still be assigned stock from puts at 122 through 126, as well as having my final bit of short stock covered.
#SPXcampaign Sold to Open $SPX Nov 9th 2150/2175 call spreads for 2.15, with SPX at 2090. Creates a condor with the put spread I sold a few minutes ago. Three days to go and 160 points between shorts.
#SPXcampaign Sold to Open $SPX Nov 9th (Wednesday) 1990/1965 put spreads for 1.90.
Even if the worst possible election outcome happens, will the market tank to 1990 on Wednesday?
Nine days in a row down on SPX hasn’t happened in 36 years. Oversold; needed a bounce. This is why I sold call spreads earlier. Premium is still jacked up so you can get decent spreads for Monday expiration and even higher for Wednesday. Working on put spreads on intraday pullbacks. I believe a lot of money can be made in the next three days by selling volatility. But I’m being careful with expirations beyond Nov 9th.
#SPXcampaign Sold to Open $SPX Nov 7th (Monday) 2065/2040 put spreads for 1.45. Offsetting Nov 7th call spread I sold earlier.
#Earnings Looks like GILD may be dropping again, so starting to close the earnings trade.
BTC $GILD Nov 4th 73.5 put for .95. Sold as part of the 68.5/73.5/78.5 iron butterfly for 3.05 on Tuesday. Watching for another bounce to get rid of my other one.
