Executed the following rolls (puts to calls) to get out of the way of this downward spiral.
Rolled NUGT Sep 16 22 puts out to Jan 20 21 calls for .19 credit
Rolled NUGT Sep 16 21 puts out to Dec 16 21 calls for .30 credit
Author Archives: Ramie
Taking some more NUGT off the table
Bought to close Dec 16 220 call @ 9.00. Sold for 36.00 on 7/5.
$NUGT Rollout
Rolled $NUGT Aug 26 135 puts down and out to Sep 16 125 puts for 2.35 credit.
$NUGT Oct puts
Sold $NUGT Oct 21 90 puts @ 5.70 as a hedge against short calls.
Closing NUGT calls
Bought to close $NUGT Sep 16 250 call @ .65. Sold for 6.00 on 7/27.
#OptionsExpiration for Aug 19 Expiring:…
#OptionsExpiration for Aug 19
Expiring:
$AMZN 08/19/2016 730.00 puts
$CAT 08/19/2016 72.50 puts
$KMX 08/19/2016 57.50 puts
$NFLX 08/19/2016 100.00 calls
$NFLX 08/19/2016 82.00 puts
$NUGT 08/19/2016 135.00 puts
$NUGT 08/19/2016 130.00 puts
$NUGT 08/19/2016 235.00 calls
$SVXY 08/19/2016 45.00 puts
$SWKS 08/19/2016 57.50 puts
$TLT 08/19/2016 137.00 puts (covered by short stock)
$TLT 08/19/2016 145.00 calls
$WYNN 08/19/2016 95.50 puts (covered by short stock)
Assignments:
$CAT 08/19/2016 70.00 calls (going short more stock)
$SVXY 08/19/2016 60.00 calls (small portion of my large long position being called away)
NFLX rollout
Rolled $NFLX short calls up and out for .48 credit.
Bought to close $NFLX Aug 19 95 calls @ 1.57
Sold to open $NFLX Sep 23 100 calls @ 2.05
Closing some NUGT puts
Took this week’s 140 put hedge off for about 50% max profit with NUGT in freefall.
Bought to close $NUGT 8/19 140 puts @ 1.60. Sold for 3.36 on 8/9.
#VXXGame trade in Jan Sold…
#VXXGame trade in Jan
Sold $UVXY Jan 20 2017 60 call @ 4.10. Highest strike.
Closing NUGT strangle
Bought to close $NUGT Aug 19 142/210 strangles @ 1.50. Sold for 4.00 on 8/11. Executing my plan of taking the trade off at 50% of max profit or better.
NUGT put rollup
Rolled $NUGT Aug 19 135 puts up and out to Aug 26 140 puts for 2.91 credit. I’m continuing to bring in premium against my Aug 19 in the money short 130 calls.
NUGT strangle
Sold $NUGT Aug 19 142/210 strangles @ 4.00
NUGT hedge
Sold $NUGT Sep 2 120 puts (delta 10) @ 3.10. This is additional hedging against my large short call position in September.
Another NUGT put rollup
Rolled $NUGT Aug 26 110 puts up to 135 puts for 2.51 credit.
NUGT rollup
Rolled $NUGT Aug 19 125 puts up to 140 puts for 2.10 credit. Went from 7 delta to 18 delta.
Closing this week’s NUGT
Decided to close these positions at a profit and release the buying power. I have plenty of exposure to this ticker so I don’t need to bleed this week’s theta.
Bought to close $NUGT Aug 12 200 calls @ .35 (sold for 1.50 on 7/26)
Bought to close $NUGT Aug 12 155 puts @ 4.10 (sold for 6.30 on 8/2)
Closing NUGT strangle
Taking this week’s strangle off for a small profit. Just taking some risk off since I’m overweight this ticker.
Bought to close $NUGT Aug 5 100/170 strangles @ 5.43. Sold for 5.86 on 7/22.
UVXY calls
Following trade from @optioniceman from yesterday.
Sold $UVXY Aug 12 58 calls @ .24. Highest strike.
Rolling up NUGT put hedge
Rolled Aug 19 110 puts up to Aug 19 125 puts for 2.20 credit.
No expirations this week
First week in a long time, but I closed or rolled everything for this week so nothing is expiring or being assigned.
Have a great weekend!
Jan NUGT call
Sold $NUGT Jan 20 2017 250 call @ 30.00
AMZN covered calls
Sold the following:
$AMZN Sep 16 825 call @ 5.00
$AMZN Sep 16 850 call @ 2.15
NUGT Dec
Sold $NUGT Dec 16 250 call @ 18.50. Highest strike in December.
AAPL beats
On earnings.
Stock up over 4% as of now.
NUGT calls
Replacing the call side of the strangle I just closed, 2 weeks further out and 25 points higher.
Sold $NUGT Aug 12 200 calls @ 1.50
NUGT strangle–closing
Closing this week’s strangle for close to 75% max profit. Don’t want to wait for the last 25% with the FOMC coming up tomorrow.
Bought to close $NUGT Jul 29 105/175 strangles for .85. Sold for 3.10–legged into on 7/20 and 7/21.
#OptionsExpiration for July 22 $UVXY…
#OptionsExpiration for July 22
$UVXY 07/22/2016 25 calls
$UVXY 07/22/2016 30 calls
$CMG 07/22/2016 385 puts
Have a great weekend everyone.
NUGT strangle
Sold $NUGT Aug 5 100/170 strangles @ 5.86. 70 points wide with NUGT at 135.60.
SWKS puts
Initiated a small put ladder on today’s move down:
Sold $SWKS Aug 19 57.50 puts @ .70
Sold $SWKS Nov 18 50.00 puts @ 1.40
CMG #Earnings Sold $CMG Jul…
CMG #Earnings
Sold $CMG Jul 22 385 put @ 4.20.
2 standard deviations away for Friday’s expiration. Strike is right at the June low, about 8% below the current price.
Trimming NUGT
Bought to close $NUGT Aug 12 210 call for 2.00 (sold for 10.00 on 7/5)
Bought to close $NUGT Aug 19 250 call for 1.15 (sold for 7.00 on 7/13)
NUGT short calls
Selling calls to create a strangle with the 105 puts I sold yesterday. Sold $NUGT Jul 29 175 calls @ 1.30.
NFLX covered calls
Continuing to sell calls against my short puts on the move up.
Sold $NFLX Aug 19 100 calls @ .40
NUGT roll
Rolled $NUGT Aug 130 puts down and out to Sep 123 puts for 2.50 credit.
SVXY covered call
Sold $SVXY Jan 20 2017 80 call @ 3.20, against the last lot of my long stock. I am now covered on calls from Aug through Jan with strikes from 60 to 80.
NUGT puts
Selling some more puts into the down move. Proceeding cautiously.
Sold $NUGT Jul 29 105 puts @ 1.80.
Closing WHR
Taking this off at 70% max profit 5 months early.
Bought to close $WHR Dec 12 100 puts @ .40 (sold for 1.35 on 6/27)
NFLX hedge
Not the best day to be selling calls but I’m getting some on the board to begin hedging my short puts. Sold $NFLX Aug 19 95 calls @ .70.
Closing $AAPL
Closing down the remaining short puts in my ladder with most of the profit earned, market near highs and earnings coming up.
Bought to close $AAPL Aug 19 87.50 puts @ .19 (sold for 1.44 on 6/17)
Bought to close $AAPL Sep 16 85 puts @ .31 (sold for 1.70 on 6/24)
#OptionsExpiration for July 15 $AAPL…
#OptionsExpiration for July 15
$AAPL 07/15/2016 92.50 puts
$CELG 07/15/2016 85.00 puts
$CMG 07/15/2016 365.00 puts
$CNX 07/15/2016 15.00 puts
$DUST 07/15/2016 33.00 calls
$ETE 07/15/2016 13.00 puts
$IBB 07/15/2016 240.00 puts
$NUGT 07/15/2016 140.00 puts
$NUGT 07/15/2016 170.00 calls
$PANW 07/15/2016 115.00 puts
$SVXY 07/15/2016 49.00 puts
$TLT 07/15/2016 140.00 calls
$TLT 07/15/2016 144.00 calls
$UVXY 07/15/2016 32.00 calls
$WYNN 07/15/2016 90.00 puts (covered by short stock)
Closing SWKS
Bought to close $SWKS Aug 19 52.50 puts @ .35. Sold for 1.50 on 7/5.
Clearing CMG
Closing last position in CMG. I didn’t want to risk another move down before Friday.
Bought to close $CMG Jul 400 put @ .90. Sold for 4.20 on 6/7.
Closing UVXY
#VXXGame Closed my last positions that expire after the upcoming 1:5 reverse split on 7/25.
Bought to close $UVXY Jan 20 95 calls @ .18. Sold for 17.00 and 19.00 on 7/8/15 so this will be considered a long term gain for tax purposes.
Closing FXE
On a bit of a recovery in $FXE, I closed the Brexit trade for a decent profit.
Bought to close $FXE Jul 15 110.00/110.50 strangles for 1.95 (sold for 2.51 on 6/22).
Closing FB
Bought to close $FB Jul 22 104 puts @ .03. Sold for 1.07 on 6/13.
Closing CMG put
Bought to close $CMG Jul 15 390 put @ 1.25. Sold for 4.50 on 6/8.
Reduces my exposure. Still short the 400 for this week.
#OptionsExpiration for July 8 Expiring:…
#OptionsExpiration for July 8
Expiring:
$NUGT 07/08/2016 175 calls
$NUGT 07/08/2016 68 puts
$UVXY 07/08/2016 30 calls
No assignments.
Have a great weekend everyone.
Rolling $NUGT
Rolled next week’s (7/15) 164 call up and out to 7/29 185 for 1.20 credit.
Then added a put hedge at 15 delta: STO $NUGT 7/29 125 put for 5.30.
So I guess that means I rolled to a 125/185 strangle for 6.50 credit.
$NUGT hedge
Rolled $NUGT Jul 15 120 puts up to 140 puts for 2.26 credit.
Closing Jan UVXY #VXXGame trades…
Closing Jan UVXY #VXXGame trades
I’m starting to close the remaining longer term positions I have at near max profit before the upcoming 1:5 split on 7/25.
Bought to close $UVXY Jan 20 2017 80 calls @ .30. Sold for 16.65 in May 2015, and 12.45 in Aug 2015.
Bought to close $UVXY Jan 20 2017 85 call @ .30. Sold for 20.10 in Jun 2015.
Closing AMZN put
Taking this off for 90% of max profit.
Bought to close $AMZN Jul 15 650 put @ .50. Sold for 5.00 on 6/17.
$SWKS puts
All of my short put positions in this have either been closed out for a profit or expired so I’m reloading.
Sold $SWKS Aug 19 52.50 puts @ 1.50. Strike is below the Feb low of 54.50.
#OptionsExpiration for July 1 Expiring:…
#OptionsExpiration for July 1
Expiring:
$DUST 07/01/2016 22 calls
$NUGT 07/01/2016 155 calls
$NUGT 07/01/2016 160 calls
$UVXY 07/01/2016 25 calls
$SPX 07/01/2016 1975/1950 put spreads
Happy 4th of July everyone! I can’t believe the year is half over.
NUGT call
Sold $NUGT Aug 19 180 call @ 14.50. Highest strike in August.
SVXY Covered Call
Sold $SVXY Dec 16 65 call @ 3.20
SVXY Covered Call
Sold $SVXY Dec 16 70 call @ 2.15
$NUGT pre-split strikes
@Iceman…I’ve seen you do this type of thing before so I was wondering what your thoughts were about something like January 35 calls (pre 1:10 reverse split) if you could get let’s say 1.00 for them. That would be the equivalent of 10.00 for 350 strike in January. Normal chain only goes up to 185.
So $NUGT is around its highs
Matching the levels it reached during the last peak on May 2. I thought I’d take a look at the same time period for $GDX. Since May 2, $GDX is about 6% higher, while $NUGT is 0%. Obviously the momentum is with this name right now but the triple-leveraged drag shows pretty significantly even over a short time period like this because of all the volatility. I’ll be selling puts on the next pullback to offset all my short delta in this but in general, long term out of the money calls (when the premium is there) have an edge. I sold some Jan 185s earlier. Will look for higher premium if NUGT keeps moving up.
NUGT Jan call
Sold $NUGT Jan 20 185 call @ 29.00. Highest strike.
Premium is a bit higher now.
Out KOLD
I just closed my last position in this name and now I’m out of it completely for the first time in about a year.
Bought to close $KOLD Aug 19 115 call @ 10.00. Sold for 55.80 as part of a rollout on 5/10. After 5 rolls (including an early assignment) my overall profit on this position was 5.59.
$TLT short calls
I’m looking for bonds to (at a minimum) slow their explosive move up over the next week or so. Selling 22 delta calls for July expiration.
Sold $TLT Jul 15 144 calls @ .75
$RCL Falling Knife trade
Sold $RCL Dec 16 45 puts @ 1.27
Closing some SVXY calls
Closing these positions for near max profit.
Bought to close $SVXY Aug 19 70 calls @ .15. Sold for 2.00 on 6/21.
Bought to close $SVXY Sep 16 75 calls @ .20. Sold for 2.45 on 5/13.
Falling Knife Trades
Some Iceman-style #FallingKnife trades:
Sold $WHR Dec 16 100 puts @ 1.35
Sold $UAL Dec 16 27 puts @ 1.14
Barron’s tidbit
I read this in Barron’s over the weekend. It gave me a chuckle but honestly it’s a bit scary how emotions get people to do things, even significant things, without a whole lot of thought.
From Google Trends, the top 3 searches in the UK that were recorded AFTER the results of the Brexit vote were officially announced:
1. What does it mean to leave the EU?
2. What is the EU?
3. How many countries are in the EU?
Looking forward to seeing how all this plays out.
Closing SVXY
To avoid assignment. Bought to close $SVXY Jun 24 44.50 puts @ .56. Sold for 1.35 on 6/13.
Rolling WYNN
Rolled Jun 24 96 puts (part of which is paired with short stock) down and out to Jul 29 91 puts for 1.40 credit.
$AAPL Adding a rung to my put ladder
Sold $AAPL Sep 16 85 puts @ 1.70
I’m also short Jul 92.50 puts and Aug 87.50 puts
Adding UVXY calls
Sold $UVXY Jul 22 30 calls @ 1.00. Highest strike.
ADDED:
Sold $UVXY Jul 8 30 calls @ 1.10. Highest strike.
NUGT: A little maneuvering in 7/1
Sold to open $NUGT Jul 1 160 calls @ 1.00
Bought to close $NUGT Jul 1 70 puts @ .20 (sold for 2.00 on 6/10)
SPY scalp–going the other way
Sold $SPY Jun 24 204 puts @ .66
SPY scalping
Gonna try to do some decay scalping on the swings for today’s expiration.
Sold $SPY Jun 24 206 calls @ .71.
UVXY calls
Sold $UVXY Jul 22 25 calls @ 1.00
Sold $UVXY Aug 19 34 calls @ 1.10
Closing some SVXY covered calls
I’m closing out some covered calls I put on recently at a nice profit and will put them back on after things settle down .
Bought to close $SVXY Jul 15 60 calls @ .50. Sold for 2.10 on 6/16.
Bought to close $SVXY Jul 22 65 call @ .41. Sold for 2.31 yesterday.
Added:
Bought to close $SVXY Jul 15 65 call @ .50. Sold for 1.95 yesterday.
TD Ameritrade
Seems to be down
Options Bistro 