#ContangoETFs Trying to stay ahead of positions becoming ITM:
BTC NUGT June 17th 97 call for 10.60. Sold for 3.80 last Friday.
STO NUGT Sept 180 call for 9.20
STO NUGT Sept 35 put for 1.80
Author Archives: Jeff
Every day this week, flush…
Every day this week, flush down and rally back. Job numbers don’t matter, it’s just the consolidation we’re stuck in. Perfect for #SPXcampaign.
SPX puts sold
#SPXcampaign Sold to Open $SPX June 24th 1985/1960 put spreads for 1.30, with SPX at 2092
NUGT call
#ContangoETFs STO NUGT July 1st 120 call for 5.25. Dipping a toe, my first sale for this expiry.
NUGT finally moves off its…
NUGT finally moves off its butt! No jobs? Buy gold!
AVGO never disappoints!
Peeling off the NUGT
#ContangoETFs Peeling off positions with profit as they relieve margin…
BTC NUGT June 10th 120 call for .15. Sold for 2.90 on 5/23
BTC NUGT June 10th 117 calls for .15. Sold for 1.10 on 5/24
(Tuesday) BTC June 17th 145 call for .30. Sold for 6.20 on 5/4
AVGO earnings
#Earnings Sold to Open $AVGO June 3rd 150/145 put spreads for 1.65. THIS IS A BULLISH TRADE. AVGO always moves up on earnings; moved down significantly only once in its 7-year history.
In its last 12 reports, Biggest UP move: 14.7% , Biggest DOWN move: -0.2% , Average move: 6.9% . This trade is 2.5% OTM.
SPX puts sold
#SPXcampaign Sold to Open $SPX June 16th 2025/2000 put spreads for 1.75. Extra spread since my normal ones for this expiry were already closed for profits.
Karen the SuperTrader maybe not so Super
Looks like Karen had been using In-The-Money Calendars on E-minis to avoid showing losses for about 19 months. You can read section 58 onwards in the SEC filing for an explanation of the trading scheme. Quite sad if it’s true.
http://www.tennessean.com/story/news/2016/05/31/feds-brentwood-firm-schemed-gain-millions-ill-gotten-fees/85211006/
FB covered puts
#ShortStock #CoveredPuts
STO $FB June 24th 113 put for .90. Continuing to sell at least one put each week, 3rd expiry out.
SPX calls sold
#SPXcampaign Sold to Open $SPX July 1st 2170/2195 call spreads for 1.50. Got both sides of a condor today.
NUGT call
#ContangoETFs Sold another NUGT June 24th 98 call for 4.70, adding to the one I sold for 3.10 this morning.
SPX puts sold
#SPXcampaign Sold to Open $SPX June 24th 1975/1950 put spreads for 1.50. I was supposed to sell the June 24th expiry last week, but with virtually no down days I only sold calls. So making up for it now.
SPX puts sold
#SPXcampaign Sold to Open $SPX July 1st 1950/1925 put spreads for 1.25.
First put spread I have sold in over a week. Missed a fill on a new call spread at the top today.
NUGT roll
#ContangoETFs #ReverseRoll Kind of a roll even though I’m closing the put for breakeven, but I’m pressured more on the put side so this roll releases substantial margin…
BTC NUGT June 17th 70 put for 8.75. Sold in April for 8.83 (avg price)
STO NUGT June 24th 98 call for 3.10
Options Expiration 5/27/16
— Expiring —
NUGT 130 & 170 calls
PANW 155/160 call spreads
SPX 1980/1955 put spreads
UVXY 28 call
–Assignment–
PANW 140 and 135 puts, taking the stock.
NUGT roll
#ContangoETFs BTC NUGT May 27th 80 put for 10.00
STO NUGT June 24th 50 puts (x2) for 2.60
Didn’t sell calls at this low level. Will add some next week.
UVXY roll
#VXXGame BTC UVXY May 27th 13.5 put for 2.20
STO UVXY June 24 12 put for 2.25
NUGT strangle roll
#ContangoETFs BTC $NUGT May 27th 83 put for 7.00. Sold for 4.10 on 5/13.
STO NUGT June 17th 62/97 strangle for 7.80.
Also still short the May 27th 80 put. Will wait until later to see what happens.
A good morning to you,…
A good morning to you, and new All-time lows for both UVXY and VXX! #VXXGame
NUGT trades
#ContangoETFs I have traded too many of these to post in last couple days. Had to escape a couple of ITM May 27th puts with losses yesterday morning. Today I closed numerous puts and calls with nice profits. Closed my last ill-fated ITM call, Jan 2017 75 call for 31.00 (sold for 7.70 on Feb 4th). That leaves me with a couple ITM puts but nothing too drastic.
After things calm down and the margin police quit eyeing me, I will start selling more OTM strangles.
SPX closed puts
#SPXcampaign Bought to close June 16th 1895/1870 put spreads for .20. Sold for 1.30 on May 17th.
PANW earnings
#Earnings Sold to Open $PANW May 27th 130/135/155/165 condor for 1.95. Recent moves after earnings: Biggest UP move: 10.6%, Biggest DOWN move: -10.8%, Average move: 5.9%. These short strikes are 6.9% OTM. Risking 3.05 to make 1.95, inside the stock’s average move.
SPX roll out
#SPXcampaign #Rolling #CondorRoll
STOPPED, $SPX June 1st 2105/2130 call spreads for 3.20.
Sold to Open $SPX June 16th 1915/1940/2135/2160 iron condors for 3.30.
Sucks to have to roll it but can’t risk more crushing upside.
AAPL stock
#AfterHours #LongStock Sold to close $AAPL stock for 99.00, breakeven from my purchase after hours on earnings day. That was second half of my position. For the first half, I sold it at 93.50 and also sold a July 95 call, now naked. I will rock and roll with this position as the stock wavers.
Impressed with its recovery. I have only a small position but I know many people that are long this stock, so happy for them. However, I don’t trust it much above 100 in the near-term. If you are long, I would at least put a trailing stop on it and not be long if it gets below 96 again.
SPX calls rolled
#SPXcampaign Bought to close $SPX June 10th 2110/2135 call spreads for 6.55. Sold for 1.20 last Thursday as a roll. Rolled to…
Sold to Open $SPX July 1st (Wednesday weekly) 2150/2175 call spreads for 3.95 (1.5x position size).
As I posted earlier, put rolls have worked beautifully, EXCEPT the ones I rolled to condors. Now the call sides are getting destroyed. No worries, though, I can roll those, too.
SPX calls sold
#SPXcampaign Sold to Open $SPX June 24th 2160/2185 call spreads for 1.55, with SPX at 2090.
SPX put spreads closed
#SPXcampaign All the rolling I had to do during the last couple weeks’ pullbacks worked like a charm…
In pre-market…
Bought to close $SPX June 1st 1980/1955 put spreads for .15. Sold for 2.55 as a roll on May 13th.
Bought to close $SPX June 16th 1900/1875 put spreads for .30. Sold for 2.00 as a roll on April 14th.
NUGT strangle roll
#ContangoETFs BTC NUGT June 3rd 80 put for 8.80. Sold for 5.20 on 5/2
STO NUGT June 17th 61 put for 4.45
STO NUGT June 17th 99 call for 4.10
Also: STO NUGT June 10th 117 calls for 1.10
AZO earning
#Earnings BTC $AZO June 17th 670 put for .35. Sold yesterday for 2.50.
SPX calls sold
#SPXcampaign Sold to Open $SPX July 29th 2150/2175 call spreads for 5.75. This is a roll from previously stopped calls spreads from March & April. Going farther out in time with plenty of flexibility to roll further out should we have a sustained summer rally.
UVXY – new all-time low,…
UVXY – new all-time low, breaking below 12.80 that was set on May 11th
SPX puts closed
#SPXcampaign Bought to close $SPX June 10th 1890/1865 put spreads for .20. Sold for 1.25 on Thursday.
FB put
#CoveredPuts #shortstock
STO $FB June17th 110 put for .80
AZO earnings
#Earnings Usually a good one to trade, but this quarter it’s announcing one day after monthly expiration, and has no weekly options. So an order is in to sell one 670 put (June 17th) for 2.50 if it fills. The most it has moved down over a 34 day period is 5.3%, which would take us to 690.
ContangoETF webinar archive
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SPX calls closed
#SPXcampaign Bought to close $SPX May 27th 2105/2130 call spreads for .10. Sold for 1.10 on May 13th.
NUGT calls
#ContangoETFs I am heavier on puts so selling calls reduces my margin. Plus, being short on the call side is better in the long run anyway.
STO NUGT June 3rd 120 calls for 1.50
STO NUGT June 10th 120 call for 2.90
SPX calls sold
#SPXcampaign Sold to Open $SPX June 24th 2145/2170 call spreads for 1.35, with SPX at 2050. Sold early as premium tends to be higher on Monday mornings than at anytime during the week (assuming, of course, the index doesn’t move much). Now trying for the 1890/1865 put spread.
Options Expirations 5/20/16
#OptionsExpiration
— Expiring —
$CRM 72.5/67.5 put spreads (#Earnings)
$FB 100 put
$NUGT 89 puts
$NUGT 130 and 160 calls
$UVXY 23 call
–Assignment–
$NUGT 89 calls, purchased stock at 89.oo after-hours so short stock assignment will zero out the position
AMZN IB closed
#IronButterfly BTC $AMZN May 20th 700 call for 2.90. Total profit on trade: 1.01 plus commissions.
Last minute straddle
#ContangoETFs STO NUGT May 20th 89 straddle for .85… Living on the edge.
TLT loser
#LongCalls STC $TLT May 20th 130 calls for .25. Bought for 1.78 average. I waited and waited but TLT hasn’t popped yet. Still holding June 132 calls.
AMZN IB
#IronButterfly BTC $AMZN May 20th 700 put for .14. Sold as part of iron butterfly for 4.05. Now need Amazon below 703.91 for breakeven, or below 700 for max profit of 3.91
UVXY roll
#VXXGame Just made the following roll. Decided not to get tricky with some reverse double half-Nelson type roll. I don’t mind being underwater puts when the UVXY is this low.
BTC NUGT May 20th 18 put for 4.40. Sold for 2.31 on 3/22
STO NUGT June 17th 17 put for 4.55.
SPX calls sold
#SPXcampaign Sold to Open June 16th 2130/2155 call spreads for 1.40, with SPX at 2051.
SPX puts closed
#SPXcampaign In pre-market, bought to close $SPX May 27th 1940/1915 put spreads for .30. Sold for 1.30 on April 25th.
SPX put profits, one day
#SPXcampaign Bought to close $SPX May 25th 1975/1950 put spreads for .70. Sold this morning for 1.50. Took it off the table in case we have another rollercoaster tomorrow (in which case I will try to sell this same spread again).
AMZN iron butterfly
#IronButterfly #Pinning
STO $AMZN May 20th 700/705 call spread for 1.50. Paired with 700/695 put spread sold yesterday for 2.55. Total risk on trade: .95. Max gain: about 3.90
SPX strangle roll
#SPXcampaign #strangleroll
Bought to close $SPX June 3rd 1965/1940 put spreads for 3.20. Sold for 1.45 on May 13th.
Sold to open $SPX June 10th 2110/2135 call spreads for 1.20, and June 10th 1890/1865 puts spreads for 1.25. (1.5x position size)
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NUGT put closed
#ContangoETFs I’m heavier on puts so closed this mainly for margin purposes:
BTC NUGT May 27th 62.5 put for 1.00. Sold for 6.70 on 4/13.
SPX puts closed
#SPXcampaign Sold to Open $SPX May 25th 1975/1950 put spreads for 1.50, with SPX at 2032.
I don’t like selling the monthlys with their AM settlement for short-term fear-trade, so I jumped to next Wednesday’s. I may try to close end of today if we rally back enough.
Meanwhile, two spreads touched my 3.00 stops at the bottom today. I am not closing yet… will wait to see how day settles and decide from there. If we start another sharp drop I will close at least one of them and roll.
VIX has popped today but is still pretty far from its lowest signal level (18.75).
UVXY put closed
#VXXGame BTC UVXY March 20th 17 put for 1.80. Sold for 2.35 on March 30th.
Also have an 18 put I will need to roll out.
NUGT strangle roll
#ContangoETFs Closing out one of my last calls that got too much ITM…
BTC NUGT Sept 80 call for 25.00. Sold for 11.20 on 2/17.
STO NUGT Sep 40/180 strangles for 13.30 (x2).
Netted 1.60 on the roll, added to the 11.60 I got for the original sale. If either of these wings goes ITM, I will roll again.
SPX calls closed
#SPXcampaign Bought to close $SPX June 10th 2145/2170 call spreads for .20. Sold for 1.90 on May 10th.
SPX puts sold
#SPXcampaign Sold to Open $SPX June 10th 1900/1875 put spreads for 1.30, with SPX at 2032. Meanwhile, approaching stops on a few other put spreads.
AMZN expiration play
#IronButterfly Sold to Open $AMZN May 20th 700/695 put spread for 2.55. As it stands now, this is a 1:1 risk/reward trade. My plan is to sell the 700/705 call spread on strength tomorrow and end up with an iron butterfly for Friday, with very low risk.
NUGT put
#ContangoETFs STO NUGT May 27th 75 put for 2.25
SPX calls sold
#SPXcampaign Sold to Open $SPX June 1st 2105/2130 call spreads for 1.50. Selling these as a roll and offsetting a put spread I have to create an iron condor for this expiry (Wednesday weeklys).
CRM earnings
#Earnings Sold to Open $CRM May 20th 72.5/67.5 put spreads for .75. Over last 12 earnings, Biggest UP move: 12.6%, Biggest DOWN move: -5.8%, Average move: 6.5%. The short strike is 6.6% OTM.
DUST reverse split 1:10
#ContangoETFs I was assigned some stock at 5.00. When it dropped below 2, it didn’t seem to much ask for a return to 5. Now that it is 12.95, I need it up to 50.00 to break even.
NUGT put
#ContangoETFs STP $NUGT June 3rd 75 put for 2.40
SPX calls closed
#SPXcampaign Bought to close $SPX June 3rd 2140/2165 call spreads for .20. Sold for 1.35 on May 5th.
SPX puts sold
#SPXcampaign Sold to Open $SPX June 16th 1895/1870 put spreads for 1.30, with SPX at 2048.
SPX calls closed
#SPXcampaign Bought to close $SPX Mar 27th 2125/2150 call spreads for .20. Sold for 1.30 last Thursday.
NUGT call
#ContangoETFs Sold to Open $NUGT June 3rd 150 call for 3.60.
SPX calls sold
#SPXcampaign Sold to Open $SPX June 10th 2135/2160 call spreads for 1.45, with SPX at 2070.
AAPL roll out
#StockTrades #AfterHours #CoveredCalls
STC $AAPL stock for 93.50. Bought for 99.00 after hours on earnings day. Played for a bounce but instead got a crater. This is half my position, rolling into an options strangle. Will sell put on down day, but for today…
STO $AAPL July 15th 95 call for 2.85. For the moment, this is covered because I have the other half of my stock. I anticipate this will be before their earnings date.
FB covered put
#CoveredPuts #shortstock
STO $FB June 10th 110 put for .75. This is my first put sale since earnings, against my short stock.
SPX call spreads sold
#SPXcampaign Sold to Open $SPX June 16th 2140/2165 call spreads for 1.35, with SPX at 2054.
SPX calls added
#SPXcampaign To juice up the rolls just made, I added a small call spread to the May 27th expiry, since I am overweight puts that week:
Sold to Open $SPX May 27th 2105/2130 call spreads for 1.10.
Options Expiration 5/13/16
#OptionsExpiration
–Expiring–
NUGT 120 calls
NUGT 75 puts
–Assignment–
DATA long 49 put: calls away my long stock assigned last Friday at 51.00 from earnings trade (small loss)
SPX puts stopped and rolled
#SPXcampaign #Rolling Down move today stopped me on some spreads I was fairly aggressive with earlier this week.
Bought to close $SPX May 25th 2010/1985 put spreads for 3.70. Sold for 1.70 on Wednesday. Rolled to…
Sold to Open SPX June 1st 1980/1955 put spreads for 2.55 (1.5x contracts). This was a Wednesday to Wednesday roll.
Bought to close SPX May 19th 2015/1990 put spreads for 3.10. Sold for 1.30 on Wednesday. Rolled to…
Sold to Open SPX May 27th 1980/1955 put spreads for 2.25 (1.5x contracts)
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