Well at least that’s what we used to say 20 years ago. Now…not so much.
Bought to close $BA 11/15 330/320 bull put spread @ .76. Sold for 1.85 on 10/23.

Have long stock from a couple of assignments so taking this opportunity to chip away at the basis. Sold $AA 12/20 24 calls @ .55 with the stock at 21.86.

Bought to close $DRIP 12/20 115 calls @ 3.60. Sold for 8.50 and 10.00 in July.

Been holding this one since July and I probably should have just removed it before earnings and reinitiated. So I’m rolling 11/15 55 puts out to 12/20 55 puts @ .75 credit. I’m also adding short 12/20 55 calls @ 1.24 to create a 55 straddle with the stock around 48.60. Total credit taken in now 3.39 so I’ll be profitable between 51.61 and 58.39 at December expiration. An oversold move back into congestion over the next few weeks will be just fine. Let’s see what happens.

Sold $BA 11/15 330/320 bull put spread @ 1.85

Bought to close $ROKU 10/18 130/140/155/165 iron condor @ 3.73. Overall profit on rolled/adjusted position:
-Original sale 9/20 170/180 BeCS @ 2.82
-Rolled 9/20 170/180 BeCS out to 10/18 130/140/180/190 iron condor @ .54 credit
-Rolled 9/20 170/180 BeCS down to 155/165 BeCS @ 1.37 credit
Total credit taken in: 4.73
Debit to close: 3.73
Profit: 1.00

I was running out of time (as of Monday was looking at a full loss on the put spread side) but the move up over the last couple of days has helped this position. Been on the wrong end of strong moves enough times so I’ll take this one and move on.

Sold $NFLX 11/15 275/265 bull put spread @ 1.72

Bought to close 10/18 27 calls @ .96 (sold for 5.07 on 9/16). This was a rollout from 9/20 26 calls. Overall profit .74.

Sold $NFLX 11/15 340 calls @ 1.30. Covered (against long stock).

Netflix EPS beats by $0.42, revenue in-line

Netflix (NASDAQ:NFLX): Q3 GAAP EPS of $1.47 beats by $0.42.

Revenue of $5.25B (+31.3% Y/Y) in-line.

Global streaming paid memberships 158.33M (+21.4% Y/Y), net addition 6.77M

Bought to close Oct 21 2920/2895 put spread + 3035/3060 call spread @ 3.15. Sold for 7.40 on 10/11.
Bought to close Oct 23 2910/2885 put spread + 3045/3070 call spread @ 3.20. Sold for 7.00 on 10/11.

Sold Oct 21 2920/2895 put spread + 3035/3060 call spread @ 7.40.
Short put and call deltas are 20 and 21.
Call spread is above the all time high in SPX.

The chart is starting to look intriguing for a fade (i.e., long nat gas) but strikes and expirations not actionable right now. Not much premium above 40 in November. If nat gas continues to be weak for the next couple of weeks, there may be a play in December (options will open up after October expiration next week). For now, Feb highest strike is 46 with the bid/ask really wide (1.00 x 5.70). Holding off but keeping an eye on it.

Sold $SBUX 11/15 iron condor: 70/80/90/100 @ 2.07 with the stock at 85.91. IV rank is high at 69, partly because of earnings in the cycle (expected 10/30 or 10/31 but not yet confirmed). I plan to be out of this trade before then, hopefully for a profit if contracting IV and theta cooperate.

Sold $ULTA Nov 15 225/220 bull put spread @ 2.36. Stock bouncing intraday. Delta of short puts 27. IV rank high at 65.

Bought to close $GDXJ 10/18 35/42 strangle @ .31. Sold for .79 on 9/19.

Just catching up on my trades.
I closed both of these positions for around overall breakeven (they were rollouts from losing Sep short calls).
-Bought to close $NUGT 12/20 53 calls @ 1.18. Overall profit .11.
-Bought to close $NUGT 10/18 32 calls @ 1.63. Overall profit .22.

My only remaining NUGT position is short 10/18 27 calls (another one from a Sep rollout).

Looking at short calls again but went with spreads in some smaller accounts to keep buying power requirements down.
Sold $DRIP 12/20 125/135 bear call spreads @ 1.31-1.33

Bought to close $NUGT 10/18 31 calls @ 2.07. Sold for 5.30 as a rollout on 9/20. Overall profit .93.

Bought to close 10/18 iron condor (130/140/160/170) @ 1.41. Sold for 2.52 on 9/18.

Sold $UVXY 11/15 35/45 bear call spread @ 1.21

Rolled $NUGT 9/20 31 calls out to 10/18 31 calls @ 1.85 credit

As promised, BTC $NFLX 10/11 250/240 bull put spread @ 1.60. Small loss (sold for 1.41 a little while ago).

I may be a bit early but STO $NFLX 10/11 250/240 bull put spread @ 1.41. I will have this on a very short leash–if we break lower again below today’s LOD of 268.00 I will close this and get out of the way. 10/11 expiration (weekly) to avoid earnings on 10/16.

Bought to close 9/20 35 calls @ .12. Sold for 1.40 on 6/20.
My only remaining September position is short 31 calls which I’m leaving on into tomorrow’s expiration to see if a move down will allow me to take them off for a profit. If not, I’ll roll them to October.

The rest of my positions (that weren’t closed for a profit) have been rolled out. In addition to the above I am now short 10/18 27 calls, 10/18 32 calls and 12/20 53 calls.

Still high IV in gold. Sold $GDXJ (junior miners ETF) 10/18 35/42 strangle @ .79 credit. Probability of profit 68%.

Bought to close $UVXY 10/18 45/55 bear call spread @ .14. Sold for 1.27 on 8/28.

Rolled in the money $NUGT 9/20 30 calls out, and up 2 points, to 10/18 32 calls @ .80 credit

With the selling momentum slowing and IV still decent (IV rank 44) sold $FDX 10/18 130/140/160/170 iron condor @ 2.52 with the stock centered between the short strikes.

Rolled $ROKU 10/18 180/190 bear call spread down to 155/165 for 1.37 credit. This is part of an iron condor with a 140/130 bull put spread. Short puts have been breached so I rolled the call spread down. This iron condor was a rollout from September. Total credit taken in so far on the rolled position is 4.71 putting my breakevens near 135 and 160.

$NFLX A bit on the aggressive side but I like what the stock has been doing to get off the mat the last few days. Sold 10/11 285/275 bull put spread @ 1.98. Short strike 27 delta. Expiration is the 10/11 weekly not the 10/18 monthly (avoiding earnings which are on 10/16.

$ADBE Borrowing an earnings trade idea from TastyTrade. 9/20 (this Friday) 292.50/295/300 broken wing call butterfly @ .30 credit. No downside risk. Profitable below 297.80. Stock at 282.58. Earnings after the bell today.

EDIT: Corrected. Originally posted “no upside risk” but the trade is a call butterfly for a credit–there is no downside risk. Apologies.

$CMG With the stock making a move up, my iron condor was starting to get too much short delta so I rolled the 10/18 725/705 bull put spread up to 780/760 for 2.18 credit. Still paired with the 850/870 call spread, with the stock around 825. Total premium taken in now 6.33 against 20 point wide wings.

With direction helping quite a bit, I took this trade from Friday off for more than 50% of the profit after.
Bought to close $ORLY 10/18 410/420 bear call spread @ 1.15. Sold for 2.60 on 9/12.

Sitting on quite a few positions that are close to the money for September expiration. Rolled the furthest ITM position up 1 strike and out a month for a credit. Rolled NUGT 9/20 26 calls, out to 10/18 27 calls @ .60 credit.
Remaining 9/20 short call positions that I’ll be watching closely this week: 30 calls, 31 calls, 35 calls.

Bought to close 12/20 130 call @ 3.50. Sold for 13.00 on 8/1.
I have one position left–short 12/20 115 calls which I will look to take off soon.

Sold $CMG 10/18 705/725/850/870 iron condor @ 4.15. IVR on the low side (25) but this gives the stock a 125 point range (currently at 786.56) and some opportunities to roll up or down if it makes a strong move in either direction.

The pullback in $COST seems to be over for now with today’s price action. Sold 10/18 285/275 bull put spread @ 2.34 with the stock at 293.57. Delta of short puts 33. IV rank is high at 55, but earnings are 10/3 so I’m going to need some direction on this trade to take it off early.

$ORLY Not the ideal setup from a premium selling angle (IV rank is relatively low at 21) but with the weakness in this segment, and this stock showing a strong rejection at the recent highs, I sold a 10/18 410/420 bear call spread @ 2.60. Short strike at 33 delta and above the highs from July and Sep (looking like a potential double top).

Bought to close $NUGT 9/20 39 calls @ .47. Sold for 1.46 on 7/10.

Bought to close $TLT 9/20 147/152 bear call spread @ .15. Sold for 1.30 on 8/14.

Bought to close 10/18 130 call @ 2.55.
Position is a rollout:
Original sale 9/20 115 call @ 3.50 on 7/25
Rolled up and out to 10/18 130 call @ 1.21 credit on 8/27
Total credit taken in: 4.71. Cost to close: 2.55. Profit: 2.16.

I’m still short Dec 115 and 130 calls.

Bought to close $SHOP 9/20 420/430 bear call spread @ .40. Sold for 2.36 on 8/28.

Took the opportunity to get out of the remaining contracts at a little better than 50% of the profit. Don’t want to take a chance of another spike combined with low liquidity of these contracts.
Bought to close 9/20 21 calls (equivalent of post-reverse split 105) @ .75. Sold for 1.55 on 5/29.

With the short calls breached, rolled the $ROKU 9/20 170/180 bear call spread out to October for a credit. Up 10 points on the call spread and added a put spread with the short strike at 15 delta. Position still leaning quite short with the short calls at 43 delta.
BTC 9/20 170/180 bear call spread
STO 10/18 180/190 bear call spread
STO 10/18 140/130 bull put spread
Overall credit for the roll: .54

Bought to close $ULTA 9/20 210/220/260/270 iron condor @ 1.10. Sold for 2.60 on 8/30.

Coming off its all time high yesterday, down today in a strong market. Sold $ROKU 9/20 170/180 bear call spread @ 2.80.

Back in May, before the 1:5 reverse split I sold some Sep 105 calls (which are now DRIP1 9/20 21 calls). Bought to close @ 1.50 (the lot that I sold for 2.20). Still sitting on some that I sold for 1.55. Another down move in the next couple days and I’ll take that off too.

With the stock down 30% and IV still high (IVR 58), selling some premium down here. Sold 9/20 210/220/260/270 iron condor @ 2.60 with the stock at 239.70. Put and call short strikes at 21 and 17 delta. Not expecting a huge bounce back–looking for the stock to flounder around in this 20 dollar range for a while and for premium to bleed out over the next week or so.

Bought to close $DIS 9/20 130/120 bull put spread @ .40. Sold for 1.57 on 8/7.

Could be coming in a bit. Maybe it will bleed some more option premium out before the 3 day weekend. Of course you have to allow for 3 days of tweets so you never know. The front end of the curve (http://vixcentral.com/) is surprisingly back in contango although the rest of the curve is still a mess. Watching closely, obviously 🙂

$SHOP looking like it’s peaked at least in the short term after a nice runup. Printing a red candle today. Sold 9/20 420/430 bear call spread @ 2.36 with the stock around 392.

Sold 10/18 45/55 bear call spreads @ 1.27

With oil continuing to be so weak and the inverse ETF not coming in ($DRIP currently at 119), I rolled my 9/20 115 call up and out to 10/18 130 call @ 1.21 credit. Up 15 points on the strike and out of the money by around 10 points.

Sold $BA 9/20 310/300 bull put spread @ 2.15

Sold $TLT 9/20 147/152 bear call spread @ 1.30. IV rank 99.

Many of us have been trading these to the short side for a long time, but for anyone who needs a refresher, here is a good summary on the pitfalls of being long these 2x and 3x products for any length of time beyond really short term. They can be supercharged if they’re going straight up for example, but in volatile environments they can grind you out.
https://www.proshares.com/funds/performance/the_universal_effects_of_compounding.html

I put this on last week, taking it off for 50% of the profit, Still have quite a bit of short call exposure. Bought $DRIP 9/20 164 call @ 4.50. Sold for 9.00.

Sold $DIS 9/20 130/120 bull put spread @ 1.57

Sold $X 9/20 11 puts @ .50

Sold $DRIP 9/20 164 Call @ 9.00

T2108 24.63
T2122 2.75

Sold $UVXY 9/20 40/50 bear call spread @ 1.28

Sold $DRIP 12/20 130 call @ 13.00. New highest strike.

Bought $VXX 8/16 26/22 bear put spread @ 1.91. Will look to take this off for near 3.00, hopefully soon if volatility retreats.

Sold $AAPL 9/20 230 calls @ 2.21. Covered by long stock.

A huge red candle printing on the daily chart, down around 15% today. This is the type of volatility that kills the long side of these ETFs. Just to recover and get back to the highs from this morning/yesterday, DRIP will have to increase more than 20%.

Lightening things just a bit. Bought to close $NUGT 9/20 54 calls @ .68. Sold for 1.40.

Post-earnings, IV still a bit elevated and the stock slowing down, sold $CMG 8/16 810/820 bear call spread @ 2.20

Sold $WDC Sep 20 62.50 calls @ 1.90.