Sold at the newest high strikes in Jul and Sep.
$GUSH Jul 20 45 calls @ 1.50
$GUSH Sep 21 45 call @ 2.74
Author Archives: Ramie
AYI Adding Nov
Already short Aug 100 and 90 puts. Extending the ladder to Nov.
Sold $AYI Nov 16 80 puts @ 1.60 with the stock at 113.67.
NOC put spread
8$NOC dipped below the 200 dma and has bounced back above it. Selling some premium in this name in June.
Sold $NOC Jun 15 280/270 BuPS for 1.25.
BA put spread
Looking for $BA to stay in its trading range with 310 at the bottom. Stock is in its second big down day (almost 5% since Friday) but it looks like the big volume is starting to wane. I’m admittedly early but there’s enough room here, with the stock at 328.63, that I feel comfortable with it.
Sold $BA May 18 310/300 BuPS for 1.34.
TPR post-earnings
Sold $TPR Nov 16 40 puts @ 1.55
ARNC puts
#FallingKnife
Sold $ARNC Oct 19 17 puts @ .74 with the stock at 19.53.
Rolling OLED
Well my idea for a 1 week roll pre-earnings on this didn’t work. Stock was 94.45 when I did that last Friday. I’m short the 100 puts. Thought that if there was a bit of a rally in the stock I could get out near my basis of 97.75. Didn’t happen. So I’m rolling to May, past next week’s earnings announcement.
Rolled $OLED Apr 27 100 puts out to May 100 puts for 2.46 credit. Basis reduction so far is 4.71 so I’m looking for around 95 or so by expiration. Of course if earnings disappoint this has the potential to be another long term roll project.
AMZN call spreads
Losing a bit of momentum so selling call spreads–splitting the risk up into 2 positions:
$AMZN May 18 1700/1720 BeCS for 3.70 credit
$AMZN May 18 1650/1670 BeCS for 6.90 credit
Taking profits on RSX
Anything can happen here so I’m taking profits and closing the trade.
Bought to close $RSX May 18 19 puts @ .15. Sold for .54 on 4/11.
Closing XBI
Taking this off for around 70% of the max.
Bought to close $XBI May 18 75/96 strangle @ .53. Sold for 1.85 on 3/29.
QQQ puts
I was waiting for a good time to sell puts to offset my ITM short calls that I’ve been carrying and rolling. Today looks like a good day for it.
Sold $QQQ May 18 148 puts @ 1.24 and 149 puts @ 1.36. They are offsetting ITM calls at the same strikes so positions are now May 148 and 149 straddles.
Still playing the game
But the rules have changed so I’m sticking with the strategy post-VIXpocalyse in early Feb. I still like selling UVXY calls but they will almost always be hedged now (call spread) which is going to necessitate them being closer to the money. With UVXY’s wings being clipped as well I’m a bit more comfortable with the 22 short strike. If volatility comes in at all over the next couple of weeks I will try to take this off.
Sold $UVXY Jun 15 22/27 bear call spread @ .54.
SHW Sep put
Throwing one out there at 15 delta in Sep. I may add if the stock keeps moving down.
Sold $SHW Sep 21 320 put @ 5.10.
Closing CAT
I wasn’t hoping to close this for another week or two but I got a bit lucky on this trade I put on this morning. It doesn’t happen like this very often, unfortunately.
Bought to close $CAT May 18 165/175 BeCS for .30. Sold near the open today for 1.35.
BIIB ladder
Taking advantage of still elevated volatility (IV rank 53) after earnings to sell a put ladder and either take assignment long term or keep the premium. Sold:
$BIIB May 18 240 puts @ 1.60 (delta 14)
$BIIB Jun 15 235 puts @ 2.50 (delta 16)
$BIIB Jul 20 220 puts @ 2.10 (delta 11)
Adding to GUSH
In the freshly minted December series, at the highest strike.
Sold $GUSH Dec 21 46 call @ 4.00.
CAT calls
Fading the post-earnings move. Sold $CAT May 18 165/175 BeCS for 1.35.
Pivoting on NFLX
Closing the call spread for around 65% of the max profit and flipping it to a put spread to try to catch premium on the other side.
Bought to close $NFLX May 18 365/375 BeCS @ .52 (sold for 1.43 on 4/17)
Sold to open $NFLX May 18 295/285 BuPS @ 1.20 with the stock at 319.82.
Hope I’m not getting too cute here.
Taking off this week’s FB short puts
Closing for a profit while I still can, with earnings on Wednesday.
Bought to close:
$FB Apr 27 150 puts @ .60 (sold for 2.40 on 3/21)
$FB APr 27 155 puts @ 1.34 (sold for 1.60 on 3/19)
Adding some SWKS
Adding November to my ladder (currently short 70 puts in May and Aug).
Sold $SWKS 11/16 60 puts @ 1.25.
Options Expiration for Apr 20
Expiring:
$AMZN 1450/1400 BuPS
$AMZN 1360/1370/1620/1630 IC
$APA 32.50 puts
$BA 310/320/345/355 IC
$BA 310/300 BuPS
$CAT 140/130 BuPS
$DUST 35 calls
$FB 162.50/152.50 BuPS
$HSIC 62.50 puts
$KOLD 55 calls
$MA 120 puts
$NFLX 260 puts
$OLED 90 puts
$QQQ 155 puts
$QQQ 156 puts
$REGN 300 puts
$SPY 263/251 BuPS
$TSLA 325/335 BeCS
$TSLA 327.50/342.50 BeCS
$UVXY 20/30 BeCS
Expiring for full loss. Will look to re-establish after earnings:
$FB 175/170 BuPS
Last minute roll: $KR Apr 20 25 puts out to May 18 25 puts for .42 credit to avoid assignment.
Assignments:
$QRVO 72.50 puts–going long stock. I meant to roll this but I lost track of it this afternoon. Will sell calls against it next week.
$CYBR 50 covered calls–stock being called away
$X 40/36 inverted strangle–with the stock finishing at 36.65, I’m being assigned on both sides–5.90 credit taken in so a 1.90 overall profit.
Have a great weekend everyone.
SWK earnings bomb
Sold a put ladder:
$SWK Jul 20 130 puts @ 1.50
$SWK Oct 19 115 puts @ 1.35
I was looking to sell something in June but that series won’t start trading until Monday. Will keep an eye on it and maybe add June if it keeps tanking.
Rolling OLED
With earnings on 5/3 I decided to roll my ITM Apr 20 100 puts out only 1 week, for .85 credit, instead of going into the May expiration and having earnings in the cycle. I figure I’d give it another week to recover a bit and maybe be able to take it off by next Friday. With the credit, basis has been reduced by 2.25 so I would need the stock at 97.75 or higher next Friday to be able to do that.
Rolled $OLED Apr 20 100 puts out to Apr 27 100 puts for .85 credit.
#FallingKnife trades Thanks to @optioniceman…
#FallingKnife trades
Thanks to @optioniceman for the ideas.
Sold:
$CLX Oct 19 100 puts @ 1.35
$PM Sep 21 75 puts @ 1.70
$HSY Nov 16 80 puts @ 1.35
$ADS Jun 15 180 puts @ 1.50
$ADS Sep 21 150 put @ 2.00 (lowest strike)
GUSHing again
New highest strikes in some of the months.
Sold $GUSH Jun 15 45 calls @ 1.00.
NFLX call spread
I may be early here but with the momentum slowing I wanted to sell some premium and get some short delta against my stock.
Sold $NFLX May 18 365/375 BeCS @ 1.43 with the stock at 334.34, around 4 dollars off its high of the day. Delta of the short strike is 20.
Options Expiration for Apr 13
$NFLX Apr 13 282.50/295/315/325 iron condor
$UVXY Apr 13 20/30 BeCS
Have a great weekend everyone.
JPM puts
On the big move down after earnings, sold some puts in the 6/1 weekly, well below the 200 dma.
Sold $JPM Jun 1 100 puts @ 1.04-1.05.
Closing NFLX inverted strangle
This one has been a fight almost immediately after I put it on. It started out as a simple short call (260 in the 1/26 expiration) but I had to keep rolling it up and out and at some point I needed the short puts to keep the rolls for a credit. I then kept rolling the strangles up and out, and finally I had to go inverted to keep bringing in credit. The final position for today’s expiration (because earnings are Monday) was 307.50/312.50 inverted. With the stock between 313 and 313.50 I was able to close this monster for 7.10, for an overall profit of .77 after all the adjusting. Hard to imagine I would get here with how this thing moved. Aggressive rolling was the call here but I have to think I got lucky getting this close enough on expiration day to take off for a profit. I’ll definitely take it.
Closing ROKU
Bought to close $ROKU Apr 20 30 puts @ .30. Sold for 1.35 on 2/22.
Back on NUGT
Sold $NUGT Jan 17 2020 55 call @ 5.60. Highest strike in Jan 2020. 1 contract. Will add as/if premium increases or higher strikes become available.
Wiping off a little DUST
Bought to close $DUST Jun 15 40 calls @ .25. Sold for 2.70 and 3.20 on 12/4 and 12/5.
Selling puts on RSX
Sold $RSX May 18 19 puts @ .54
XLK–rolling inverted
Rolled Apr 60/64 inverted strangle up 2 points and out to May 62/66 inverted strangle for .15 credit with XLK currently at 65.85.
Closing NVDA strangle
Bought to close $NVDA Apr 27 195/265 strangle for 1.25. Sold for 4.05 on 3/27. Thanks again for the idea @fuzzballl.
MLM July put
Sold $MLM Jul 20 170 put @ 3.10. Will add if premium increases.
Looks like I picked the wrong week…
Back from vacation
I picked a ridiculous week to not be trading (well I did get a couple of small adjustments in). Maybe it was better–I may have overtraded through Mon-Wed.
Now I’m just going through things and will start cleaning stuff up.
Took off my Apr AZO short 580 put for 1.25. Sold for 6.20 on 2/27.
I’m still short a Sep 500 put.
XBI strangle
Idea from TastyTrade
Sold $XBI May 18 75/96 strangles @ 1.85
XBI currently at 88.96
SWKS Aug
Sold $SWKS Aug 17 70 puts @ 1.25
#FallingKnife
Closing BKNG
This one has been hanging around way too long, mainly because of the lack of liquidity in the options. Finally got the opportunity to take it off for 75%+ profit. I’m probably going to avoid trading the options on this stock going forward.
Bought to close $BKNG Apr 6 2220/2240 BeCS @ .58. Sold for 2.55 on 2/28.
TSLA put spread
Taking a shot with IV at its 52 week high (IVR=100). Sold $TSLA Apr 20 265/255 BuPS for 1.40. Short strike is at 20 delta.
UVXY calls
I know I said I was limiting the naked call selling in volatility but this one just seemed too good.
Sold $UVXY Jan 18 2019 75 calls @ 2.75.
Highest strike. Thanks for the idea @optioniceman.
MHK Aug puts
Sold $MHK Aug 17 175 puts @ 2.00. Delta 9 with a strike below the 2 year lows in the stock.
#FallingKnife
Oct AMGN adding at a lower strike
Sold $AMGN Oct 19 130 put @ 2.00
DWDP Sep puts
Sold $DWDP Sep 21 55 puts @ 1.45
#FallingKnife
Closing some DUST
Starting to whittle down my exposure.
Bought to close $DUST Jun 15 45 call @ .40. Sold for 2.80 on 12/17.
Adding CAH
Selling Sep to add to my short Jun 50 put
Sold $CAH Sep 21 50 puts @ 1.35
#FallingKnife
MS July
Sold $MS Jul 20 46 puts @ 1.04 with the stock at 53.25.
#FallingKnife
KOLD call
Adding a position in November at the highest strike (now 68).
Sold $KOLD Nov 16 68 call @ 2.00.
X going inverted
Sold $X Apr 20 40 straddle on 3/13 for 4.70. With today’s big move down in steel, I’m rolling the calls down to 36 for 1.20 credit. Total credit now 5.90. If the stock finishes between the strikes (36 and 40) total profit will be 1.90. Now let’s see if it can cooperate.
Adding some KOLD
In August
Sold $KOLD Aug 17 60 call @ 1.50. Starting small and will add (there’s also a 70 strike available in Aug) on a move up.
CAT Apr put spread
I may be a bit early but I wanted to sell some out of the money premium on this. April expiration (before earnings). IV is high (IVR 64). Short strike is 10 points below current price.
Sold $CAT Apr 20 140/130 bull put spread for 1.13-1.14.
AMGN Oct
It’s been profitable to sell puts on this when it gets to the bottom of the range (in this case near or below the 200 day moving average).
Sold $AMGN Oct 19 140 puts @ 2.45
Adding to Aug AYI
Already short 100 puts in Aug.
Adding at 2 strikes lower:
Sold $AYI Aug 17 90 put @ 1.45
#FallingKnife
Adding a ladder rung to CLX puts
Sold $CLX Oct 19 105 puts @ 1.50
Closing Sep CMG
Bought to close $CMG Sep 21 180 put @ .85. Sold for 5.10 on 2/12.
More FB puts
Sold $FB Apr 27 (weekly) 150 puts @ 2.40
Added UVXY put spread
Added UVXY put spread
I’ll use this one to reduce basis on SVXY assignments
Bought to open $UVXY Jun 15 16/10 BePS @ 3.20. Position profits 2.80 if UVXY retreats back to where it was (10 at the end of January) by June options expiration.
UVXY call spreads
On a day like today many of us would normally be throwing out offers on high strike calls on UVXY. I’m going to likely stop (or severely curtail) the naked call selling on this in favor of call spreads that would necessarily have to be quite a bit closer to the money. Just sold this one:
$UVXY Apr 13 18/28 BeCS @ 1.21
FB puts
Sold $FB Apr 20 160 puts @ 1.20 with the stock at 176.19. Delta of 14. 160 hasn’t been seen by the stock since last July.
Options Expiration for 3/16
Expiring:
$AAOI Mar 16 22.50 puts
$AGN Mar 16 145 puts
$BA Mar 16 385/395 BeCS
$CAH Mar 16 52.50 puts
$CMI Mar 16 135 puts
$GILD Mar 16 60 puts
$GS Mar 16 275/285 BeCS
$GS Mar 16 250/240 BuPS
$K Mar 16 57.50 puts
$NUGT Mar 16 45 calls
$NUGT Mar 16 50 calls
$NWL Mar 16 26 puts
$QQQ Mar 16 156/149 BuPS
$UAL Mar 16 50 puts
$UVXY Mar 16 17 calls
$UVXY Mar 16 19 calls
$UVXY Mar 16 30 calls
$UVXY Mar 16 91 calls
$VIAB Mar 16 20 puts
Assignments:
$FXI Mar 16 48/50 inverted strangles–both sides being exercised with the stock finishing between the strikes. Position will be removed from my account.
Have a great weekend everyone.
Taking off some MTN
Bought to close $MTN Apr 20 210 put @ 1.70. Sold for 5.80 on 12/1. Thanks @jsd501.
Booking the 70% profit over a month early.
Taking some more UVXY off
Shorter leashes.
Bought to close:
$UVXY Apr 20 26 calls @ .57. Sold for 1.42, 1.90 and 2.07 on 2/2.
$UVXY Jun 15 60 calls @ .32. Sold for 2.10 on 12/1 and 2.15, 2.20 and 3.85 on 2/5.
Rolling some deep in the money positions
I was undecided about whether to just book the losses on these or roll them. Decided to roll and get more time and premium.
Rolled $CELG Mar 16 115 put out to Sep 21 115 put for .60 credit
Rolled $RRC Mar 16 22 puts out to Aug 17 22 puts for .15 credit
Rolled $XLK Mar 16 60 straddle out to Apr 20 and inverting the strikes to 64 puts/60 calls for .35 credit. This position has been rolled since November with the strikes moving around. Total credit taken in is now 4.04 so if XLK finishes between the strikes this trade will pretty much break even. That’s unlikely though, with the stock at 69.85. My plan: If it starts to come in, roll opportunities should be better and I can probably un-invert the strikes. If it continues to run up, I’m going to throw the towel in and take the loss.
QRVO puts
A nice long tail being printed on the daily chart. Selling puts around the 200 DMA. Delta of 23, stock at 78.02. No earnings in this expiration cycle.
Sold $QRVO Apr 72.50 puts @ 1.20.
Closing STMP post-earnings trade
Bought to close $STMP Apr 20 230/240 BeCS @ .80. Sold for 1.72 on 2/22.
Taking off some more long term UVXY risk
Not much left here so closing them out. Pre-split strikes (from 1:4 split on 7/17/17).
Bought to close:
$UVXY1 Jan 18 2019 60 calls @ .10. Sold for 6.15, 7.30, 3.20, 3.60 and 3.15 from March-August 2017.
$UVXY1 Jan 18 2019 55 calls @ .12. Sold for 3.50 on 5/17/17.
X straddle
Borrowing an idea from one of the TastyTrade traders.
Sold $X Apr 20 40 straddle @ 4.70 with the stock at 40.21. Breakevens 35.30/44.70.
Will take off for 25% profit (3.50 or less).
Closing DRIP
Took all my short calls off in this ticker at most of the profit. Completely out of it now and will look to re-enter on the next big swoon in oil.
Bought to close:
$DRIP Apr 20 24 call @ .15. Sold for 1.70 on 2/9.
$DRIP Apr 20 25 call @ .15. Sold for 1.90 on 2/9.
$DRIP Jun 15 28 calls @ .40. Sold for 1.56 on 2/8 and 2.50 on 2/9.
Rehashing SVXY/XIV
We’ve been through this quite a bit and it seems like all the facts are known about what happened. I saw this article, however, by the venerable Lawrence McMillan. His knowledge and experience give the whole thing a lot more context and color.
https://seekingalpha.com/article/4155721-xiv-scapegoat-markets-decline
Long VXX spreads
Continuing with this strategy and applying profits to accumulated SVXY positions. Should start to be able to peel some of these off soon.
Sold to close $VXX Mar 16 48/46 BePS for 1.88. Bought for 1.24 on 3/1.
Bought to open $VXX Mar 29 41/36 BePS for 2.56.
Getting out of SIG
I’ve been waiting for an opportunity to clear my existing (small) positions in this stock. With the latest news that they’re being replaced in the S&P 500, and with earnings coming up this week I decided to take the opportunity to get out for close to even (small profit). Selling puts was very profitable over the last year and a half, but that’s it for me with this name.
Bought to close:
$SIG Apr 20 40 put @ 1.30. Sold for 2.30 on 11/24.
$SIG Jul 20 35 put @ 1.55. Sold for 1.35 on 1/10.
Closing HES a couple of months early
Bought to close $HES May 18 35 puts @ .20. Sold for 1.10 on 12/14.
