CLX #FallingKnife
Sold $CLX Apr 20 2018 110 puts @ 1.20 with the stock at 128.56
Author Archives: Ramie
Another DRIP dripped away
Bought to close $DRIP Nov 17 40 calls @ .05. Sold for 2.00 on 8/29.
I only have 2 positions left in this. Dec 35 and 40 calls. It’s been a great run for a few months but if the bear market in oil is really over then we may be done with this one for a while.
Adding a little NUGT in Jan
Sold $NUGT 1/19/18 66 calls @ 1.15. Highest strike.
UVXY proceeding slowly
Sold $UVXY Nov 17 70 calls @ 1.00
Closing a GWW position in Dec
Lightening my exposure a little to this ticker.
Bought to close $GWW Dec 15 130 put @ .50. Sold for 2.10 on 7/19.
Adding some AAOI
Sold $AAOI Dec 15 30 puts @ 1.60
NVDA Jan puts
Sold $NVDA Jan 19 2018 120 puts @ 1.20. I don’t know if it will get down that far but I’m looking to accumulate a long term position in this stock and I would love to get some below 120.
Options Expiration for Sep 22
$AAOI Sep 22 62 puts
$SVXY Sep 22 40 puts
$SVXY Sep 22 50 puts
No assignments.
$AGN #FallingKnife Sold $AGN Jan…
$AGN #FallingKnife
Sold $AGN Jan 19 2018 160 puts @ 1.50 with the stock at 203.58. Stock hasn’t been at the strike price in nearly 4 years (Jan 2014).
$AAOI Nov
Sold Nov 17 30 puts (lowest strike) @ 1.20 with the stock at 63.72. Kind of surprised at the premium down here but I’ll gladly take the stock at 28.80 in November if it gets cut by more than half by then.
Taking off my last Oct DRIP position
Bought to close $DRIP Oct 20 35 calls @ .05. Sold for 1.60 on 8/3.
Remaining positions: Short Nov 40 calls, Dec 35 and 40 calls.
Closing $T
Bought to close $T Oct 20 35 puts @ .11. Sold for .75 on 9/7.
Taking off one of the Oct DRIP positions
Bought to close $DRIP Oct 20 41 calls @ .05
Sold for 1.50 on 8/21.
I’m still short 35 calls in October. Looking to take those off for .05 into the strength in oil.
Options Expiration for Sep 15
$AAOI Sep 15 55 puts
$AAPL Sep 15 165 calls (covered)
$DRIP Sep 15 35 calls
$DRIP Sep 15 40 calls
$NVDA Sep 15 135 puts
$PETS Sep 15 25 puts
$SPY Sep 15 241 puts
$SVXY Sep 15 37.50 puts
$SVXY Sep 15 45 puts
$SVXY Sep 15 52.50 puts
$SVXY Sep 15 55 puts
$SVXY Sep 15 70 puts
$UVXY Sep 15 65 calls
$UVXY Sep 15 82 calls
$WDC Sep 15 77.50 puts
No assignments.
Have a great weekend.
Closing TSCO
Booking profits on this position that had spent quite a bit of time over the summer deep in the money. Now able to take it off for 80% of the max profit over a month early so I’m taking the opportunity.
Bought to close $TSCO Oct 20 55 puts @ .20. Sold for 1.00-1.25 on 4/12-4/13.
IRBT Dec
Sold $IRBT Dec 15 60 puts @ 1.26. Downward momentum is slowing but IV is still elevated. Stock is trading at 79.79. I’ll consider taking assignment at 58.74 in December for a longer term hold.
AAOI rollout
I thought these might go out of the money based on the action the last couple of days but today’s pullback makes that unlikely. Luckily, options on this stock roll very easily.
Rolled $AAOI Sep 15 60 puts down and out to Oct 20 55 puts for 2.00 credit.
For now I’m going to leave my 55 puts in place for tomorrow’s expiration but if there’s some more movement down I’ll roll those as well.
Closing CBI
Taking this trade off for 75% of the premium over a month early.
Bought to close $CBI Oct 20 10 puts @ .10. Sold for .38 on 8/30.
$EFX #FallingKnife Sold $EFX Apr…
$EFX #FallingKnife
Sold $EFX Apr 20 2018 60 put @ 1.45. Lowest strike. I’ll add 1 contract at a time as the premium rises or lower strikes are added.
Continuing trade management on $REGN
Position had been adjusted to Sep 29 460/475 strangle. I just rolled the 460 puts out to Oct 20 for 4.20 credit. Leaving the Sep 29 475 calls for now.
Closing SIG
Bought to close $SIG Oct 20 45 puts @ .10. Sold for 1.25 on 5/12.
Closing NVDA strangle
Bought to close $NVDA Oct 6 150/185 strangle @ 1.22. Sold for 2.75 on 9/5. Thanks for the idea Fuzzy.
Closing Dec LRCX
Bought to close $LRCX Dec 15 125 put @ .90. Sold for 4.30 (thanks again @jsd501). Taking the 80% off more than 3 months early.
Closing $RH
Taking this off for 80+% of the potential profit.
Bought to close $RH Sep 15 75 calls @ .25. Sold for 1.50 on 9.7.
REGN adjustment
Rolled the 530 call (from the 9/29 460/530 strangle) down to 475 (22 delta) for 3.43 credit. Original trade was the 430/530 call. With rollups/rolldowns the remaining position is 9/29 460/475 strangle with the stock at 449.19. Breakeven on the downside is now 445.36.
Options Expiration for 9/8
$SVXY Sep 8 50 puts
$SVXY Sep 8 60 puts
$UVXY Sep 8 60 calls
$UVXY Sep 8 64 calls
If you’re anywhere near that monster Irma please stay safe. Hoping for some change in direction. There’s also that jerk Jose right on her heels.
EFX puts
Sold $EFX Oct 20 90 puts @ 1.40 with the stock at 122.87. IV rank is 100.
$T–borrowing an idea
From TastyTrade (Tony MX).
Sold $T Oct 20 35 puts @ .75 with the stock at 35.64.
Adding to Dec NUGT
At the new highest strike.
Sold $NUGT Dec 15 63 call @ 2.80.
$RH-Fading the move
Sold $RH Sep 15 75 calls @ 1.50 with the stock at 71.59 slowing its upward momentum. Expiration a week from tomorrow.
SVXY/UVXY reducing position size
Taking some more off at most of max profit just to reduce my size a bit.
Bought to close:
$SVXY Sep 15 65.00 puts @ .55 Sold for 5.25 on 5/8
$SVXY Sep 15 42.50 puts @ .10 Sold for 1.30 on 6/15
$SVXY Sep 15 37.50 puts @ .04 Sold for .78 on 5/17
$UVXY Sep 22 82.00 call @ .12 Sold for 6.00 on 8/11
$UVXY Sep 29 82.00 call @ .40 Sold for 6.80 on 8/11
CMG rollout
Was looking for a good opportunity to roll this in the money short put in Sep to Oct but but with the big move down in the stock today there’s no premium there. I decided to go out to Nov.
Rolled $CMG Sep 15 355 puts out to Nov 17 355 puts for 2.80 credit. A little more to continue to reducing basis on this trade.
UVXY Mar
Sold $UVXY Mar 16 2018 91 call @ 7.00. Highest strike. Premium is higher now.
#VXXGame
UVXY Nov
I didn’t have anything on in November so I’m starting an initial position at the highest strike.
Sold $UVXY Nov 17 80 call @ 3.20.
#VXXGame
Expiration for 9/1
$SVXY Sep 1 55.00 puts
$SVXY Sep 1 62.50 puts
$UVXY Sep 1 60.00 calls
$UVXY Sep 1 64.00 calls
Have a great long weekend everyone.
Closing XOP
Taking this position off for 75% of the max. Bought to close $XOP Sep 15 29 puts @ .16. Sold for .64 on 8/11.
More AAOI rollouts
Rolling short Sep 65 puts out to Oct 65 puts for 3.75 credit with the stock now trading at 58.57. I’m extending duration on this trade and bringing my cost basis down, if assigned, to 57.75 (65.00 strike price less 7.25–3.50 for the original Sep put sale plus 3.75 for the rollout). When I originally sold puts on this, the idea was to take assignment of a stock I wouldn’t mind owning long term. But with the rich premiums, rolling out has been the way to go. So far, at least.
Taking off some UVXY
Taking a cue from Iceman, I took off some positions with strikes in the 60s since I am also short at higher strikes. Seems like prudent risk management.
Bought to close:
$UVXY Dec 15 65 calls @ 4.20. Sold for 7.00-11.00 on 8/9 and 8/10.
$UVXY Jan 19 2018 65 calls @ 5.40. Sold for 8.10 and 11.50 on 8/9 and 8/10.
$UVXY Mar 16 2018 60 call @ 7.45. Sold for 9.00 on 8/9.
Also, bought to close $UVXY Sep 15 82 call @ .04. Sold for 4.50 on 8/11.
$NUGT Sold pre-split strike
In January
Sold $NUGT1 Jan 19 2018 19 calls @ .35 (equivalent to 76 strike)
$NUGT-sold highest strikes
Nov 17 60 calls @ 1.30
Dec 15 60 calls @ 2.10
$AAOI rollout
I have a few September short put positions near the money but this one is too deep in the money to imagine the stock will get there in 2 weeks so I’m rolling Sep 75 puts out to Oct for 2.65 credit, with the stock at 60.73.
I previously rolled this and have been collecting premium against it (7.26 so far). So if I take assignment at Oct expiration my basis will be 67.74. Of course a lot can happen between now and then.
Closing UVXY
Had an order in to close some of these at .01. This one got filled.
Bought to close $UVXY Sep 8 82 call @ .01. Sold for 3.65 on 8/11.
Closing Oct MNK
Bought to close $MNK Oct 20 30 puts @ .25. Sold for 1.20 on 5/17. Taking it off 1 1/2 months early. I still have a nice size position in Jan (short 30 puts) that I’ll keep on.
Closing Nov ESRX
Bought to close $ESRX Nov 17 52.50 puts @ .44. Sold for 1.36 on 5/11.
Taking almost 70% max profit out about 2 1/2 months early.
Closing Sep AZO
Getting out of this for around 65% of max profit when it was deep underwater as recently as last week. The options were trading as high as 15 in early July when the stock made its excursion below 500 into the 490s. I thought this one was going to have to get rolled out based on how it was acting but the modest recovery sucked the premium out of the options. Taking the profit a couple of weeks early and not looking back.
Bought to close $AZO Sep 15 480 puts @ .85. Sold for 2.50 on 5/23.
CBI puts
Not my typical strategy but IV rank is still high from its big August move down (IVR 63). Stock is moving up strongly today so selling puts with IV still high. Strike price is near the lows from mid-August.
Sold $CBI Oct 20 10 puts @ .38.
BBY adding
Adding just a bit here. Sold a small position of the $BBY Oct 20 52.50 puts earlier today. With the further down move I just sold Oct 20 50.00 puts for 1.00.
A little DRIP
Sold $DRIP Nov 17 40 calls @ 2.00. Highest strike in Nov.
BBY Oct
$BBY On the post-earnings move down, sold Oct 20 52.50 puts (27 delta) for 1.46. Strike price is below the July lows.
UVXY Oct
Sold $UVXY Oct 20 80 calls @ 3.00. Highest strike.
NUGT calls
Sold at the highest strikes:
$NUGT Oct 20 50 calls @ 1.30
$NUGT Dec 15 58 calls @ 2.00
AAOI Oct
Sold $AAOI Oct 20 50 puts @ 2.40 with the stock at 60.76. Willing to go long the stock at a basis of 47.60.
#OptionsExpiration for 8/25 $SVXY Aug…
#OptionsExpiration for 8/25
$SVXY Aug 25 60 puts
$SVXY Aug 25 67.60 puts
$UVXY Aug 25 60 calls
$CMG Aug 25 295 puts
$CMG Aug 25 292.50 puts
Thanks to Iceman for the CMG ideas–some great 2-3 day decay trades.
No assignments this week.
Have a great weekend everyone.
SVXY close
Bought to close $SVXY 8/25 78 puts @ .20. Sold for 7.67 as a rollout on 8/11. A hairy ride, but profit achieved on the rollout from 8/18 80 puts.
Rolling AAOI
It looks like we won’t make it up to 65 so I’m rolling tomorrow’s (8/25) $AAOI 65 puts down and out to Sep 22 62 puts for 1.95 credit. New strike is at the money (stock at 62.27) and after the credits taken in, my cost basis if assigned would be 61.80.
CMG for this week
Taking Iceman’s trade from yesterday. Risky, since the stock is a lot closer to the strike today but any kind of move up in the next 2 days will deflate the premium quickly. If I’m wrong, I’ll roll out.
Sold $CMG Aug 25 295 puts @ 1.20.
Taking off some UVXY
Following Iceman’s lead and thinning out short calls at some of the lowest strikes I have in some of these expiration cycles. All nicely profitable.
Bought to close:
$UVXY Sep 22 64 calls @ 1.10. Sold for 4.95 and 6.00 on 8/10.
$UVXY Sep 22 55 calls @ 1.38. Sold for 3.13 on 8/9.
$UVXY Sep 15 68 calls @ .46. Sold for 2.85 and 4.10 on 8/10.
$UVXY Sep 15 65 calls @ .54. Sold for 2.27 on 8/9.
Closing PYPL
Taking this off for 55% of the potential profit:
Bought to close $PYPL 9/15 55/62.50 strangles @ .60. Sold for 1.33 on 8/2.
Oct DRIP
Highest strike in October.
Sold $DRIP Oct 20 41 calls @ 1.50.
IWM roll
Adjusting my Sep 134/142 strangle. With $IWM testing the 134 put, I rolled the 142 calls down to 138 (26 delta) for .64 credit. Position is now 134/138 strangle.
Back from vacation
Looks like I missed some more fireworks last week. Hope you all were able to take advantage of the volatility. I was forcing myself to keep the trading to a minimum. It was tough on Thursday 🙂
$AAOI rollout
Looks like this will finish in the money tomorrow so I’m rolling the 8/18 70 puts out to 9/29 and down 5 points to 65 puts for 1.37 credit. Stock currently at 65.55.
$UVXY–Took a few off
Got pretty heavy in this the end of last week and I promised myself I would thin a bit on a retreat in volatility. Peeling a few off just for position size management.
Bought to close:
$UVXY 8/25 82 call @ .15 Sold for 2.20 on 8/11
$UVXY 8/25 60 call @ .39 Sold for 1.80 on 8/10
$UVXY 9/1 82 call @ .37 Sold for 3.10 on 8/11
Will look for more opportunities if things remain calm.
#OptionsExpiration for Aug 11 Just…
#OptionsExpiration for Aug 11
Just two today:
$SVXY Aug 11 70 puts
$UVXY Aug 11 50 calls
Have a great weekend.
Closing AZO
Bought to close $AZO Aug 18 520 put for 3.20. Sold for 4.70 on 6/21. Considering how in the red this position was (option was trading for over 30.00 just a few weeks ago) I’ll take the 32% max profit instead of having to watch it and potentially roll it next week.
NVDA Sep puts
Sold $NVDA Sep 15 135 puts @ 1.37. IV is still extremely high (at 100 IV rank) and not coming in yet. This strike is almost 20 points out of the money with an 85% probability of profit. Delta is 13.
Selling XOP puts
Taking a shot on a bullish trade at the bottom of the range. Strike price is below recent lows 29.90 on 6/21 and 29.92 on 7/7. IV rank is 51.
Sold $XOP Sep 15 29 puts @ .64.
Delta 31.
/VX on a tear after hours
$UVXY at 43, $SVXY at 72.
VIX futures now in backwardation
VIX futures now in backwardation
Front month and second month: http://vixcentral.com/
CMG Dec
Sold $CMG Dec 15 230 put @ 2.60. Lowest strike. Willing to take the chance that the stock doesn’t have another 100 point (30%) drop in it before Dec. The strike is at a level CMG hasn’t been in 6 1/2 years (Feb 2011).
$SVXY $UVXY
Sold:
$SVXY Aug 11 70 puts @ .30 (tomorrow’s expiration)
$SVXY Aug 18 75 puts @ 1.40
$SVXY Aug 25 60 puts @ 1.20
$SVXY Sep 22 50 puts @ 1.40
$SVXY Dec 15 40 put @ 2.10
$SVXY Mar 16 2018 35 put @ 2.55
$UVXY Aug 11 50 calls @ .41 (tomorrow’s expiration)
$UVXY Aug 18 68 calls @ .50
$UVXY Aug 25 60 call @ 1.80
$UVXY Sep 1 64 call @ 1.50
$UVXY Sep 8 64 call @ 2.00
$UVXY Sep 15 68 call @ 2.85
$UVXY Jan 18 2019 65 call @ 14.50
All that and we’re gonna close flat?
Looks like it was #BTFD again.
$AAOI rollout
I’m rolling this week’s in-the-money 75 puts out to the September monthly (9/15) expiration for 3.41 credit.
Bought to close $AAOI Aug 11 75 puts @ 6.89
Sold to open $AAOI Sep 15 75 puts @ 10.30
This further reduces my basis in the trade. With the 3.41 credit plus the 1.20 premium I took in for the Aug 11 75 puts my cost basis for the stock, if assigned, will be 70.39. It is currently trading at 68.33.
$IWM strangle
Taking advantage of the increase in volatility to sell premium. Leaning slightly bearish.
Sold $IWM Sep 15 134/142 strangles @ 2.30.
HSIC #FallingKnife Sold $HSIC Jan…
HSIC #FallingKnife
Sold $HSIC Jan 19 2018 145 puts @ 2.00