BTO MU Mar22/29 36/36/44/44 put/put/call/call @.39
BTO MU Mar22/29 40 call cal @ .26
Max risk .65. Max potential profit 1.29
So far, MU is stuck after the announcement. Best possible scenario for the calendars.:-)
#dubdubcal
Author Archives: MamaCash
Hello all!
Wanted you to know I haven’t gone anywhere. This is one of my favorite trading hangouts. I ran out of hours in the day for trading, posting, working, and taking care of my granddaughter. Still trading SPX ICs, collars, ITM covered calls, seasonal trades, and momentum. Good trading to all!
Closed SPX 1dte spreads for target profit
BTC Mar8 BuPS 2700/2695 @.05 x8. STO @ .3125 x8 (average price)
BTC Mar8 BeCS 2790/2795 expired. STO @ .25 x4
Total profit $300
#spx1dte
SPX 1dte credit spreads
STO Mar8 BuPS 2700/2695 @ .3125 x8 (average price)
STO Mar8 BeCS 2790/2795 @ .25 x4
Decided not to bore you with the details of building my trades.
#spx1dte
SPX Mar6 IC closed for profit
BTC SPX Mar6 BeCS 2820/2825 @ .05 x4. Sold @ .30. Profit $100
BTC SPX Mar6 BuPS 2740/2735 @ .05 x4. Sold @ .30. Profit $100
BTC SPX Mar6 BeCS 2820/2825 @ .25 x4. Sold @ .25. Profit $80
STO SPX Mar6 BuPS 2760/2755 @ .25×4. Pending GTC order @ .05
BTO SPX Mar6 BePS 2765/2760 @ .50 x1 to convert one BuPS to bearish fly. Will keep converting BuPS to flies if price continues down.
BTO SPX Mar6 BePS 2765/2760 @ 1.00 x1 to create another fly. Moved BE on downside to SPX 2757, BE on upside to 2765 and overall max profit cut from $80 to -$70.
Flies closed for $120 loss.
Last two BuPS 2760/2755 expired for $50 profit.
Net profit for all spreads $210
SPX 2dte makes another appearance
STO SPX Mar6 BeCS 2820/2825 @ .30 x4
BTC SPX Mar6 BuPS 2740/2735 @ .05 x4. Sold @ .30. Profit $100
STO SPX Mar6 BeCS 2820/2825 @ .25 x4
STO SPX Mar6 BuPS 2760/2755 @ .25×4
Full position on for this round.
I was planning to pause on the ICs due to low vol. Then the low vol went poof. Also, you could say that @hcgdavis made me do it.:-)
#spx1dte
#jadelizards, #lizardpies, #pietrades, #spikedjadelizard, #spycraft
SPX 1dte IC
BTC Mar4 2760/2765 BuPS @ .05 x8. STO @ .30. Profit $200
BTC Mar4 2825/2835 BeCS @ .05 x4. STO @ .55. Profit $200
Total profit $400
#spx1dte
SPX Mar1 ICs closed
BTC all spreads for .05. Total profit $350
STO SPX Mar1 2755/2750 BuPS @ .25 x6
STO SPX Mar1 2755/2750 BuPS @ .30 x2
STO SPX Mar1 2815/2820 BeCS @ .25 x4
STO SPX Mar1 2815/2820 BeCS @ .30 x4
SPX IC Mar4 trades
STO Mar4 BeCS 2830/2835 @ .30 x4. Sold 2825/2830 @.25 x4 to convert to a 10w @ .55 x4.
BTO Mar4 2835c @ .25 x2 to hedge against a big weekend move to the upside.
STO Mar4 BuPS 2765/2750 @ .30 x8
#spx1dte
SPX Feb28 IC closed
STO Feb28 2755/2750 BuPS @ .30 x2
STO Feb28 2815/2820 BeCS @ .25 x2
STO Feb28 2815/2820 BeCS @ .35 x4
STO Feb28 2815/2820 BeCS @ .30 x2
STO Feb28 2765/2760 BuPS @ .30 x2
STO Feb28 2765/2760 BuPS @ .30 x4
BTC Feb28 2815/2820 BeCS @ .05 x8. Profit $210
BTC Feb 28 2755/2750 BuPS @ .05 x2. Profit $50
BTC Feb28 2765/2760 BuPS @ .05 x6. Profit $150
Total profit $410
#spx1dte
SPX IC 1dte
STO SPX Mar1 2755/2750 BuPS @ .25 x6
STO SPX Mar1 2755/2750 BuPS @ .30 x2
STO SPX Mar1 2815/2820 BeCS @ .25 x4
STO SPX Mar1 2815/2820 BeCS @ .30 x4
BTC SPX Mar1 2755/2750 BuPS @ .05 x8. Profit $170
Full position for today.
These narrow-width condors will eventually bite me. For now with low vol/ATR, they’re working well.
#spx1dte
MNST double double calendar
Out for flat minus commissions. BTO @ .40. STC @ .40
#dubdubcal
MNST double double calendar
Bot MNST Mar 1/8 62 call cal and Mar 1/8 54 put cal @ .20 (EM strikes)
Bot MNST Mar 1/8 58 call cal and Mar 2/8 58 put cal @ .20 (ATM strike)
Total cost for four calendars: $40
Thanks to @jeffcp66 for continuing to trade this strategy after I abandoned it.:-)
#DubDubCal
SPX 1-dte closed
BTC SPX Feb27 2845/2850 BeCS @ .05 x2. STO @ .35 x2. $60 profit
BTC SPX Feb27 2825/2830 BeCS @ .05 x4. STO @ .35 x4. $120 profit
BTC SPX Feb27 2755/2750 BuPS @ .05 x2. STO @ .25 x2. $40 profit
BTC SPX Feb27 2765/2760 BuPS @ .05 x2. STO @ .25 x2. $40 profit
Total profit $280
#spx1-dte
SPX 1-dte
Building another short-term SPX position
STO Feb28 2755/2750 BuPS @ .30 x2
STO Feb28 2815/2820 BeCS @ .25 x2
STO Feb28 2815/2820 BeCS @ .35 x4
STO Feb28 2815/2820 BeCS @ .30 x2
STO Feb28 2765/2760 BuPS @ .30 x2
STO Feb28 2765/2760 BuPS @ .30 x4
BTC Feb28 2815/2820 BeCS @ .05 x8. Profit $210
BTC Feb 28 2755/2750 BuPS @ .05 x2. Profit $50
BTC Feb28 2765/2760 BuPS @ .05 x6. Profit $150
Total profit $410
#spx1dte
Upside warning trades
Closed most of my IWM, QQQ, and SPY calls for doubles and triples. Opened on Feb 5. Still holding one lot each.
Rolled my TNA, TQQQ, and TNA stock replacement structures (SRS) back down to 85delta long/35 delta short. This is the fourth roll down on TNA. Locked in a profit with no risk on current position. UPRO needs one more roll. TQQQ a little slower but more than 50% covered.
#UpW
SPX IC
Starting up my short-term SPX ICs again.
STO SPX Feb27 2845/2850 BeCS @.35 x2 based on hitting resistance in 2810 area today.
STO SPX Feb27 2755/2750 BuPS @.25 x2 based on well-defined price range box
STO SPX Feb27 2825/2830 BeCS @ .35 x4
STO SPX Feb27 2765/2760 BuPS @ .25 x2
BTC SPX Feb27 2845/2850 BeCS @ .05 x2. STO @ .35 x2. $60 profit
BTC SPX Feb27 2825/2830 BeCS @ .05 x4. STO @ .35 x4. $120 profit
BTC SPX Feb27 2755/2750 BuPS @ .05 x2. STO @ .25 x2. $40 profit
BTC SPX Feb27 2765/2760 BuPS @ .05 x2. STO @ .25 x2. $40 profit
Total profit $280
#spx1dte
SPX 1-dte
Sold Feb15 2690/2685 BuPS @ .30 x2. Based on 2730 support and Theo gravity level.
Sold Feb15 2700/2695 BuPS @ .35 x4, .30×2. Based on Tide and MACD.
Sold Feb15 2775/2780 BeCS @ .25 x2, .35 x2, .45 x2. Call shorts are tight but market showing some weakness
Sold Feb15 2785/2790 BeCS @ .25 x2
Done for today. Total credit $510.
Closing trades: Closed BuPS .05 x8. Closed 2785/2890 BeCS @ .05. Closed 2775/2780 ccs @.90×2 and .60×4.
Profit $290 before commissions. Twas a serious nail biter.
#spx1-dte
SPX 1-dte
Sold Feb14 IC (monthly) 2790/2795/2720/2715 @.50 x2
2/14 update: Closed call spreads for .05 and put spreads for .10. Total profit $70.
#spx1-dte
Word to the wise
Never ignore an UpW. Thanks, @jeffcp66. I’m so happy that someone introduced me to Options Bistro a couple years ago.
SPX 1-dte IC
Building an SPX Feb13 IC position today. Will keep tabs on it here.
Sold Feb13 2760/2765 BeCS @ .50 x1
Sold Feb13 2760/2765 BeCS @ .45 x2
Sold Feb13 2695/2690 BuPS @ .25 x2
Sold Feb13 2705/2700 BuPS @ .25 x2
Sold Feb13 2765/2775 BeCS @ .30 x1. Converted one of the 2760/2765 to 10w for .30 credit.
Sold Feb13 2715/2710 BuPS @ .30 x2
Total credit $380.
Will let you know how it closes tomorrow. May have to buy back a short call or two.
When all was said and done, I lost $419 on this batch of spreads. I bought back the 2760 calls on a breach early in the morning. It dropped soon after and never went ITM again. These trades continue to make the case for price staying within EM most of the time. Gotta stick to my rules of adjusting on a breach. Only lost about one day’s profits. Back to work tomorrow.
SPY 21dte IC petri dish
After selling an eight-rung ladder of SPY ICs, 21 dte, 16delta both sides, starting with Feb8 expiration, one IC has closed with $38 in profits. I’m confident that with proper management, the spycraft strategy has edge and a positive expectancy over time. However, it doesn’t jive with my trading style. There are lots of positions to manage and then at best a small profit. I could sell 10x or 20x instead of 2x but I’d rather trade SPX than do that.
After my SPY Mar1 spreads expire, I’m going to move on. I may come back but for now, there are other strategies that keep me more engaged; hence better profits. I will report back here on total profits when the last spreads close.
SPX 1-dte IC
Closed Feb11 put spreads (8) and call spreads (4) spreads for .05 each. Total credit $450. Total profit $390.
#spx1-dte
SPX 1-dte IC
Sold Feb 11 2650/2645 BuPS, 4@.50, 2@.45, and 2 @.30. Total credit $350
Sold Feb 11 2735/2740 BeCS @ .25 x4. Total credit $100
#spx1-dte
SPX 1-dte IC
Feb 8 positions all closed for .05. Total profit $362. Did not defend the put credit spread with 2670 short puts.
#spx1-dte
SPX 1-dte IC
Sold layers of SPX Feb8 BuPS x6 and BeCS x4 at different strikes for total credit of $412. So far, so good. I’ll let you know how it turns out tomorrow.
#spx1-dte
Defending ICs
@hcgdavis is so good to recap his trading strats and share lessons learned. I’m going to try to follow his example here.
Over the last six weeks or so, I’ve traded multiple SPY/SPX ICs using different time frames. It’s a given that defense is absolutely necessary to survive. However, defending too early robs you of potential profits more often than not. Although it will be more expensive, I’ve decided not to defend ICs anymore unless the short strikes are breached. Expensive defense 10% of the time is cheaper than inexpensive defense 40% of the time. If you’re selling spreads outside 1sd, most of them are going to be safe.
#IC_Defense
SPY 21dte ladder strat
SPY 21 dte ladder strat
I’m switching from ICs to Risk Reversals during this period of low volatility.
STO Feb27 267/265 BuPS @ 31 x2. BTO Feb27 276/278 BuCS @.67 x1. Goal is for credit to cover debit.
Opened a portfolio-style hedge in SPY to mitigate losses on the long side.
Volatility bet
Bot VXXB Mar8 34/30/38 broken fly @ 1 x3. Betting on volatility to continue falling for a bit.
#volatility
VIX upside trades
Bot QQQ Mar 8 175c, SPY 277.5c, IWM 154c. First small layer.
Trading very carefully in case the rally doesn’t materialize.
Added another layer of SPY, QQQ, and IWM calls. Same strikes. Better price. Will hedge with VIX calls near the close if the downside wins today.
#vixindicator
SPY 21dte IC update
Quick update on SPY 21dte IC strat. I’m rolling put credit spreads up as they close for .05. Converting call spreads to back ratios and flies when they are close to being breached. Too many trades to capture here but strat is up $225 since I started it 17 days ago. First layer is Feb 8. All layers are 2x per side. I’ll know soon how well this is working. So far, it’s a ton of work for peanuts but peanuts add up over time.
SPX 1-dte IC
Building an SPX 1dte position throughout the day. First trade is a ccs based on Theo 2731 gravity point, too many up days, other possible one or two day dampers. Adding trades as I take them.
STO SPX Feb6 2755/2760 BeCS @ .45 x1
STO SPX Feb6 2705/2700 BuPS @ .30 x2. Didn’t get the pullback after PMI/ISM that I expected.
STO SPX Feb6 2760/2765 BeCS @ .35 x1. This converts one 10w spread for .80 credit
STO SPX Feb6 2705/2700 BuPS @ .30 x1. Willing to go up to 8 BuPS.
STO SPX Feb6 2705/2700 BuPS @ .60 x1. 4 pcs total
Flied off the risk on the call spread for 2.30 debit. New position SPX Feb6 2745/2755/2565 call fly.
Update: BuPS x4 closed at .05 for $100 total profit.
Don’t want short risk tomorrow due to VIX upside warning potential at the close today.
Market Tide v3 or updates?
Has anyone heard from Bryan about v3 or other updates? I thought v3 was imminent when he did the last webinar. I haven’t heard anything in a while but I had an email mixup with AlphaShark because I unsubscribed at one time.
#markettide
SPX 1-dte IC
Closed the SPX Feb4 IC from Friday where I added one spread at a time based on Tide
BTC Feb4 2740/2750 BeCS @. 05. STO @.90
BTC Feb4 2670/2665 BuPS @ .05 x3. STO @ .30, .25, .25
BTC Feb4 2680/2675 BuPS @ .05 x1. STO @ .35
Total profit $200
#spx1-dte
SPY 21dte IC
Sold Feb25 BuPS 264/262 x2 @ .30. Moved short put to 25 delta due to low vol.
Sold Feb25 BeCS 278/280 @ .28 to complete the IC.
Continuing to build my SPY 21dte positions. Waited for an MT reversal to sell the call side.
#spycraft
SPX 1dte petri dish
Entering one lot at a time based on 5min and 30min MT signals. Will only take additional lots if they improve average credit or strikes. Quick experiment to see if this helps with defense. The last four trades I’ve defended didn’t need to be defended. Even though all but one were profitable, I don’t like being nervous all day.:-)
STO SPX Feb4 2745/2750 BeCS for .25 @ 7:33 am
STO SPX Feb4 2670/2665 BuPS for .30 @ 8:07 am
STO SPX Feb4 2740/2745 BeCS for .35 @ 8:50. This converts the ccs to a 10w @ .60 credit
STO SPX Feb4 2680/2675 BuPS for .35 @ 10:15
STO SPX Feb4 2670/2665 x2 @ .30 and .35 later in the day. Got busy so couldn’t do JIT posts.
All up 2x call side, 4x put side.
#SPX1-dte
SPY 21dte
Closed 6 pcs on 3 SPY 21dte ICs @ .05. Sold for .20 each. Profit $90. Hopefully the turtle wins the race because I am the turtle.
STO replacement pcs at 16 delta.
#spycraft
SPX 1-dte
STO SPX Feb1 IC 2650/2655/2740/2745 put/call @.50 x6
BTC early for .10. With the VIX drop at the open, couldn’t resist the quick win.:-)
Profit $240
#spx1-dte
SPX 1-dte defense
Cut risk to zero and made a small profit my SPX Jan31 2710/2715 ccs by buying back the three 2710 calls in the spread I STO near the close yesterday. Position is now a bullish backratio.
Ended up making $430 on this 6 lot trade.
Closed Jan30 SPX 1dte IC early
Closed for .20. Sold for .55 x 6. Total profit $210
#spx1-dte
SPY 21dte ladder
Sold SPY Feb20 274/276 ccs @ .26 x 2. SPY 21dte ladder strat. Will sell pcs on reversal.
Sold SPY Feb20 254/252 pcs @ .20 x2 to complete the IC.
#spycraft
SPX 1-dte IC
Sold SPX Jan30 2710/2715 ccs @ .25 x 6 across two accounts. Will add pcs on reversal.
Sold SPX Jan30 2600/2595 pcs @ .25 x6 across two accounts to complete the IC
Sold 3 more Jan31 2710/2715 ccs @ .75 after fed announcement. This is based on the usual reversal after a spike on the announcement.
#spx1-dte
SPX weeklies question
Does anyone know why SPX has an extra weekly expiration this week? There are options expiring Mon, Wed, Thurs, and Fri. That happens sometimes with monthly expiration but not usually at EOM.
SPY 21dte ladder
Sold SPY Feb19 IC 274/276/250/248 @ .42 x2. Now have four of six max layers in the ladder. All ICs look fine at this point.
#spycraft
SPX 1dte
#spx1dte Sold SPX Jan30 1dte IC 2690/2695/2590/2585 @ .55 x6 across two accounts. Keeping trade size smaller for a while to recover from over-defending these trades.
SPX 1-dte IC defense again
Converted SPX Jan28 2625/2620 put side to Jan28 2630/2625/2620 fly @ 1.55. With credit received on IC, net debit is 1.05 per lot x6. This either locks in a loss or a possible profit if SPX closes between 2625 and 2630. Decision made on breach of 2625 level and then waited for bounce to enter.
Defending every other trade is getting old so will probably stay on sidelines or use long ICs as @jeffcp66 is doing. All depends on the HV/IV ratio on SPX after today.
SPY 21dte ladder
Sold SPY Feb15 255/253 BuPS @ .20 x2 to start third step of SPY 21dte IC ladder strat. Will add call side before the close.
Sold SPY Feb15 276/278 BeCS @ .24 x2 to complete the IC.
#spycraft
SPX 1-dte
Sold SPX Jan28 2625/2620 BuPS @ .25 x6 in two accounts. The ES appears to be finding a new higher range in which to bounce around.:-)
Sold SPX Jan28 2700/2705 @.30 x6 to complete the IC.
#spx1-dte
SPX 1-dte defense time
Converted SPX Jan25 call spread to fly 2675/2680/2685 for .85 debit (net cost of .30 per lot). This locks in a loss of $360 across two accounts unless price goes above 2675 before the close.
On a positive note, I reduced risk from $5280 to $360 on 12 lots.
#spx1-dte
SPX 1-dte
Sold SPX Jan25 2680/2685 call credit spread @ .30 x 12 @ 7:36 am.
Tide agreement on 5 min and 30 min. Waiting for tide reversal to sell put credit spread.
Sold SPX Jan25 2595/2590 put credit spread @ .25x 12 @ 8:25 am to complete the IC.
Breakout on 5 min chart, down signal ghosted out on 30 min chart. Not the best entry but following my rules.
With defense, trade closed for $420 loss on 12 lots. If the regular profit on one of these trades exceeds the loss on a defended trade, I’m good with that. On to the next SPX 1-dte IC.
SPX 1dte picture perfect
SPX Jan23 IC 2595/2600/2680/2685 Put/Call expired. Sold 6 lots at .45 yesterday, 4 in one account and 2 in another. After two harrowing days of defending ICs that breached or nearly breached the short side, today’s closing risk profile was gratifying.
#spx1dte
SPY 21dte ladder
Sold SPY Feb13 IC 274/276/251/249 CALL/PUT @.49.
With SPX caught between support and resistance and volatility a little elevated, I added a layer to my ladder. Not a Tide trade.
#spycraft
SPX 1dte fly defense worked
Closed my SPX Jan22 2620/2625/2630 put flies (defense position from IC) one account for $1240 profit and the other for $600 profit. I was tempted to hold for a pin at 2625 but decided some profit is better than no profit so I TTMAR. I’ve learned a lot from Deal or No Deal. lol.
The call side of the IC will close for full profit of $600. Was a good day. I owe @hcgdavis for suggesting flies for defense. They will be my “go to” defense on the credit spreads that are near expiration.
#spx1dte
SPX 1dte
#spx1dte Sold SPX Jan23 2600/2595 put credit spread (pcs) @ .25 x 6, four in one account and two in the other. Looking for an opportunity to sell a call credit spread (ccs)
Sold SPX Jan23 2685/2690 ccs @ .20 x6 to complete ICs in both accounts based on break below low of day.
SSO TNA TQQQ UPRO collars
After several months of selling weekly calls, buying puts, put spreads, and put flies, I’m in the green on SSO and UPRO. TNA and TQQQ are not far behind after being deeply in the red at Christmas.
SPY 21dte IC ladders
SPX 1dte IC
#spx1dte Sold SPX Jan22 2695/2700 call credit spread @ .25 x12, 8 in one account and 4 in the other.
Sold SPX Jan22 2625/2620 pcs @ .25 x12 to complete my IC. One could say I waited too long. 🙂
Bot back 50% of 2625 short puts @ 1.35 on Tues, Jan 22 to defend this IC.
SPX 1dte IC closed
Out of my SPX 1dte IC from yesterday. Flat in one account. Lost $750 in the bigger account. Without defense, the losses would have been $1900 and $4050 so I’m ok with that.
SPX 1dte defense
Bot back 6 of 13 short calls based on China news. Will update on outcome tomorrow.
SPX 1dte IC
Sold Jan18 (weekly) 2565/2560 put credit spread @ .25 x9 and .30 x4 in two accounts. 7:35 am mst
Sold Jan18 call credit spread 2650/2655 @ .25 x13 to complete the SPX 1dte IC in both accounts. 10:12 mst
SPX 1dte IC expired
SPX Jan16 2640/2645/2535/2530 call/put expired. Sold for .50 x10 yesterday.
SPX 7dte IC defense
Per my SPX IC defense plan, I bought back half of my Jan18 2635 short calls. This will allow one of the long calls to run unhedged in case this rally continues into Friday.
SPX 1dte IC
Sold SPX Jan16 2640/2645/2535/2530 call/put @ .50 x 10 total in two accounts
Used Tide to time entries per side.
SPX 1dte IC expired
SPX Jan14 IC 2630/2635/2530/2525 x2 expired. Sold for 1.10 on Friday. Used Tide to time entries.
SPX 7dte IC
Sold SPX Jan18 2510/2505 BuPS for .55 x2. Based on 5 min and 30min MT along with other confirmations.
This trade adds the put side of the IC I started on Friday.
SPX 1dte IC
SPX 1dte IC
Legging into an SPX Jan11 IC. Sold SPX Jan11 2520/2515 pcs @.30 x6. Will sell CCS to complete IC on 5-min Tide reversal with upper study set to 0.5 and lower 0.25.
Update: Sold Jan11 2630/2635 call credit spread @.25 x6 to complete the IC based on 5-min Tide short signal.
Total credit $330 on the trade.
SPX 7dte IC ladder strategy
Sold SPX Jan18 IC 2635/2640/2480/2475 CALL/PUT @1.30 x2
SPX 1dte IC expired
SPX 1-dte IC
Sold SPX Jan9 2635/2640 BeCS @ .25 x5. Will buy bull put spread later today when conditions look a little better to do so.
Sold SPX Jan9 2495/2490 BuPS @ .30 x5 to complete the IC.
Defense plan: use @hcgdavis tactic to buy back 2 or 3 of the shorts to create a ratio should either of these credit spreads get in trouble.
Fully hedged on SSO, TNA, TQQQ, and TNA
Lightened up the hedges on my shares earlier this week so they could run. Now I’m back to weekly ATM short calls, put flies and WOTM puts. Who woke up the bear?
Market tide
@hcgdavis @fuzzballl
Thanks for recommending this indicator and for going to bat to get us a discount. The indie has paid for itself a few times over already.
Happy New Year!
Although I haven’t contributed much lately, this is still my favorite site for learning about new strategies and sharing ideas of my own. Thanks to all of you for making tough trading tolerable.
Here’s to great success and many profits in 2019 for all of us!
VIX indicator
@jeffcp66, does the SPX have to make new highs to cancel a downside warning? If so, it’s a long way to cancelling the downside.
#vixindicator
Darkest before the dawn
Here’s Jesse Stine’s 2019 forecast. There’s nothing like a good dose of contrarian sentiment to help you think more clearly.
The link to the newsletter is at the bottom of the page. http://jessestine.com/friends-and-family-market-alerts/
Options Bistro 