Managing WDC

I was assigned 4 separate lots of stock from short puts, back in May and June.

I took one of those lots (sold stock for 54.79) off for an overall profit (after multiple rolls/adjustments starting in September.

For one of the remaining 3 lots, I sold Sep 20 60 covered calls which would take me out of that one for an overall profit if assigned.

Watching to sell calls on the other 2 lots as the stock looks like it could be poised for an earnings run into next week.

Adding NUGT

Sold $NUGT Sep 20 54 calls @ 1.40. Highest strike.

Taking profits on AVGO

Bought to close 8/9 265 puts @ 1.60. Sold for 3.90 on 7/3.
Thanks again Fuzzy!

NFLX put spread

Sold $NFLX Aug 310/300 BuPS @ 2.60

CI call spread

Sold $CI 8/16 185/194 bear call spread @ 1.60.

Taking profits on IRBT

Bought to close 9/20 60 puts @ .50. Sold for 1.20 on 4/24.
I am now totally out of this underlying.

NUGT adding

Sold $NUGT 9/20 44 calls @ 1.10 (highest strike).
I am now short these calls in Sep 26, 30, 31, 35, 39, 44. I could roll the ITM 26 calls up now but it would have to be to December. Could roll to 30 for a small credit but I’m going to wait a bit before I do that.

Closing XBI

Bought to close $XBI 8/16 78 puts @ .48-.49. Sold for 1.21 on 6/24.

WDC covered calls

Sold 7/19 55 calls @ 1.00, against part of my assigned long position.

Completely out of sync on NFLX

Intraday weakness had me convinced the stock was rejected at resistance and heading lower, and I was looking for quick decay on short dated options. Didn’t work out so I’m closing these before they get out of hand.
Bought to close:
$NFLX 7/12 380 calls @ 4.06 (sold for 2.50)
$NFLX 7/12 382.50 calls @ 2.74 (sold for 1.52)

NFLX reversal

Sold 7/12 380 calls @ 2.50 for this Friday’s expiration

Taking profits on CVS

Bought to close $CVS 8/16 50 puts @ .50. Time has marched on and the stock hasn’t moved too much since I put the trade on (sold for 1.34 on 3/1).

Closing HIIQ

With the stock recovering a bit and now hanging around the short put strike I decided to close this trade for about 45% of the max profit. Bought to close $HIIQ 7/19 jade lizard (short 26 puts + 34/37 bear call spread) @ 1.77. Sold for 3.20 on 6/7.

Closing HQY

And taking a loss. Should have paid better attention to the downward trending moving averages (you were right @jsd501 !)
Sold 8/16 65/70 bull call spread @ 1.25. Bought for 2.18 on 6/28.

Closing some VXX

Taking profits on long put spreads.
Sold $VXX 7/12 28/24 bear put spread @ 3.05. Bought for 2.00 on 6/25.
Sold $VXX 7/19 28/24 bear put spread @ 3.06. Bought for 1.94 on 6/14.

Closing CMG

Bought to close $CMG 7/19 770/780 bear call spread @ .35. Sold for 1.86 on 6/25.

HQY call spread

Bullish on this stock that’s near the bottom of its range for the last couple of months. IVR is low (20) so I decided to buy calls. Bought $HQY 65/70 bull call spread @ 2.18. Bearish moving average configuration so I’m not looking for a huge breakout here.

Closing ABBV

A quick 1 day profit, taking off for >50% of the max profit. Bought to close 7/19 65 puts @ .90. Sold for 1.94 yesterday. Thanks for the idea @geewhiz112 !

ATVI ITM rollout

Been rolling this losing trade out since November. Or maybe I should adopt a more optimistic attitude and call it a “soon to be ex-losing trade”. Rolled 7/19 50 puts out to 8/16 50 puts @ .85 credit with the stock at 46.76.

Total credit so far (this will be the 8th rollout): 2.17. Stock is let’s say around 1.00 below the August breakeven. Technically the stock is in an uptrend the last month and is now above the major moving averages with the 20 close to crossing above the 50. Of course there are earnings to deal with before August expiration. If the stock makes a run into earnings then I won’t have to worry about it.

AAPL put spread

Sold $AAPL 7/19 190/180 bull put spread @ 1.70 credit with the short strike at 30 delta, right around support,

VXX put spread

Bought $VXX 7/12 28/24 bear put spread @ 2.00. 1:1 risk/reward. Will look to take off for around 3.00.

CMG call spread

$CMG at resistance, now close to the low of the day. Sold 7/19 770/780 bear call spread @ 1.86 with the stock at 733.29.

ROKU July

Sold $ROKU 7/19 90/85 bull put spread @ 1.22.

NLSN–a little early perhaps

Sold $NLSN 7/19 22 puts @ .75. Stock hasn’t bounced yet today so I’m likely early here. But an assignment at 22 will give me a basis of 21.25 and a 6% dividend.

XBI August

Sold $XBI 8/16 78 puts @ 1.21. Strike below the May lows. Delta 20.

Adding NUGT

Sold $NUGT 9/20 39 calls @ 1.46. New highest strike.

Options Expiration for 6/21

Most of my positions were rolled but this is what was left to expire:
$BA 6/21 345/340 bull put spread
$DE 6/21 130/125 bull put spread
$MMM 6/21 170/160 bull put spread
$NFLX 6/21 325/315 bull put spread
$TLT 6/21 132/137 bear call spread
$UVXY 6/21 40/50 bear call spread
$X 6/21 14 puts
$BKNG iron butterfly 1670/1700/1730 expiring for full loss. Position had been adjusted/rolled a couple of times–total premium 20.60 so 9.40 loss.

Have a great first official weekend of summer everyone.

GLD call spread

Borrowing an idea from TT (from yesterday).
Sold 8/16 136/143 bear call spread @ 1.05.

SHOP call spread

$SHOP printing an inverted hammer today and coming back inside the upper bollinger band on the daily chart. This may have topped out for now. Sold 7/19 340/350 bear call spread @ 3.33. Short strike above today’s high.

Keeping it on a short leash and will close out quickly if the stock reverses back up and tests 340 again.

More NUGT

Sold $NUGT 9/20 35 calls @ 1.40. Highest strike in Sep.

Continuing to add to NUGT

Sold $NUGT 9/20 31 calls @ 1.15, adding at a higher strike. I had an order in from this morning and got filled but I probably should have waited–you can get quite a bit more now (or maybe a higher strike).
My position is now short:
9/20 26 calls
9/20 30 calls
9/20 31 calls

Closing AVGO

Bought to close $AVGO 7/19 250/240 bull put spread @ .85. Sold for 2.40 on 6/14.

Adding NUGT

I’m already short the Sep (9/20) 26 calls. Just added (sold) 9/20 30 calls @ 1.05.

Closing VXX put spread

Sold to close 6/21 31/26 bear put spread @ 3.82. Bought for 2.51 on 5/29. 52% profit.

TQQQ covered call

Sold against stock from assignment. STO 7/19 64 call @ 1.52. I was assigned at 64 so if called away in July, position will be closed for an overall profit.

Taking profits on FB

Bought to close $FB 7/19 165/155 bull put spread @ .59. Sold for 1.72 on 6/12.

Closing AVGO

Bought to close $AVGO 7/19 230/320 strangle @ 1.75. Sold for 2.92 yesterday.

VXX put spread

Bought $VXX 7/19 28/24 bear put spread @ 1.94 debit. About 1:1 risk/reward. Breakeven 26.06 in 36 days with VXX currently at 27.38.

Closing BYND

Bought to close $BYND 7/19 90/80 bull put spread @ 1.00. Sold for 2.25 on 6/11.

Unrelated–I have a strange hankering for a cheeseburger.

AVGO post-earnings

Sold $AVGO 7/19 250/240 bull put spread @ 2.40.

AVGO strangle

Borrowing another TT idea.
Sold $AVGO 7/19 230/320 strangle @ 2.92.
Earnings play but expiration in July.

DIS covered calls

Sold $DIS 7/19 145 calls @ 1.33 (covered). This is a partial hedge against my stock position.

Closing LULU

Bought to close $LULU 150/155/185/190 iron condor @ .45 for 80% of the max profit.

Closing RH

Bought to close $RH 8/16 75 puts @ .80. Sold for 3.10 on 4/2.

Closing CTL

Bought to close $CTL 6/21 10 puts @ .04. Sold for .33 on 5/9.

IRBT closing adjusted trade

Getting out for near breakeven/small profit.
Bought to close $IRBT 7/19 90/95 strangle @ 7.05.
Original trade was short May 95 puts. Rolled down and out to June 92.50 puts, then added Jun 95 calls. Subsequently rolled the position out to July 90/95 strangle. Overall profit after adjustments is .28. Lots of work to get back to even but I’ll take it.

Congratulations to the St. Louis Blues

Happy for you Fuzzy, and all long-suffering Blues fans!
220px-Stanley_Cup,_2015

Game 7

I feel like I might have jinxed game 6, so I’m not gonna say anything about who’s gonna win tonight, Fuzzy. All I’ll say is enjoy the game. It’s looking to be a great one!

LULU earnings

Sold 6/21 150/155/185/190 iron condor @ 2.25 credit.
Stock around 170.30. Short strikes right at expected move (+/- 15 points).

Adding to DRIP

Added a bit to this position (at the highest strike in Sep). Sold 9/20 21 calls @ 2.20 with DRIP at 16.07. My previous sales were at 1.55. Still pretty far out of the money but making a strong move up on the continued hammering of oil.

FB put spread

Sold $FB 7/19 165/155 bull put spread @ 1.72.

CMG call spread

Borrowing an idea from Tom at TastyTrade. Sold $CMG 7/19 750/760 bear call spread @ 3.60. Stock at 729.40 up almost 15% over the last week. Daily chart shows resistance around the current price.

Closing a VXX put spread

Hit my 50% profit target, so sold to close 6/21 32/27 bear put spread @ 3.75. Bought for 2.44 on 6/3.

BYND put spread

Sold $BYND 7/19 90/80 bull put spread @ 2.25. Going far out of the money with the short strike at 14 delta and more than 40 points out of the money.

There’s some meat on the bone with out of the money option premium. See what I did there?

Closing a Boeing position

Bought to close $BA 6/21 330/320 bull put spread @ .28. Sold for 1.49 on 5/20.

Shout out to Fuzzy

Go Blues! Great win in Boston last night, taking back home ice advantage and setting up a possible series-ending-Stanley-Cup winning game 6 at home. Scottrade Center errrr Enterprise Center will be rocking! It’s time to end the drought–Sunday night will be it.

Trying out HIIQ

Thanks @honkhonk81 for bringing my attention to this one.
Sold $HIIQ 7/19 jade lizard–short 26 puts + 34/37 bear call spread–for 3.20 credit.

Closing JNJ

Bought to close $JNJ 7/19 120 puts @ .60. Sold for 1.23 on 5/29.

Closing ANET for 50% profit

Bought to close $ANET 6/21 230 puts @ 1.50. Sold for 3.00 on 5/3

VXX put spread

Bought $VXX 6/21 32/27 bear put spread @ 2.44. Breakeven 29.56 in 19 days with VXX at 30.82. With all the volatility, the VIX term structure has remained relatively flat (still in a slight contango in the short end of the curve: http://vixcentral.com/).

Getting back in NUGT

Sold $NUGT 9/20 26 calls @ 1.10

Closing AMZN put spread for a loss

Bought to close 6/21 1750/1740 bull put spread @ 5.38. Sold for 2.35 on 5/29. Will look to reinitiate something once things stabilize a bit more.

Rolling IRBT

Continuing to extend the trade and lower basis–rolled my now short 6/21 92.50 puts to 7/19 90 puts @ .25 credit, and 6/21 95 calls to 7/19 95 calls @ 1.60 credit. I looked at using the #lizardpies strategy described by @hcgdavis but for this one the strike availability didn’t allow it (they’re 5 points wide in July right now and I couldn’t get more than 5.00 credit anywhere). Will look at on my next rollout.

Total premium taken in now 7.08 so my breakevens have been lowered (helped by being able to move the put strike down for a credit). Downside breakeven 82.92, upside breakeven 102.08.

Closing AMGN

Bought to close $AMGN 6/21 175/180 bear call spread @ .94. Sold for 1.55 on 5/28.

TLT call spread

Fading the move up in bonds via a 6/21 132/137 bear call spread. Sold for .79.

EDIT: Corrected expiration date to 6/21

Closed SPX IC

Bought to close $SPX 6/10 2720/2695 BuPS + 2900/2935 BeCS @ 3.99. Sold for 7.00 on 5/23.

New VXX put debit spread

Bought $VXX 6/21 31/26 bear put spread @ 2.51. Breakeven in 24 days 28.49 with VXX currently at 29.81. Looking for 50% profit.

JNJ July puts

Selling momentum seems to be slowing, showing some life on the intraday charts. Sold $JNJ 7/19 120 puts @ 1.23 with the stock at 130.09. Delta 18. Strike price below the 12/24/18 low.

AMZN put spread

Sold $AMZN 6/21 1750/1740 bull put spread @ 2.35. Short strike at 28 delta, and below the 200 day moving average.

A bounce in oil?

Got pretty extended to the downside. Time to get back to fading the triple leveraged commodity ETFs.
Sold $DRIP 9/20 21 calls @ 1.55

BA put spread

Sold $BA 6/21 340/330 bull put spread @ 1.30

AMGN call spread

Sold 6/21 175/180 bear call spread @ 1.55

IRBT adjustment

Sold $IRBT 6/21 95 calls @ 1.93, against my now ITM 92.50 puts to lower the delta.
The puts had been rolled from the original position (May 95s) for a credit, so total premium taken in is now 5.48.
Updated position is a June 92.50/95.00 strangle with breakevens at 87.02 and 100.48.
Stock doesn’t seem to want to get off the mat but nothing lasts forever.

UVXY vertical call spread in July

Sold $UVXY 7/19 50/60 bear call spread @ 1.15 with UVXY at 37.41.

AMZN put spread

Sold $AMZN 6/21 1780/1770 bull put spread @ 3.38