STO 3 Jan 22 $70 calls @ $0.40

Jan 22, 29  Feb 5, 12, 19, 26

All show new higher strikes up to $85

BTC Jan 15 $170 calls @ $.03

BTC Jan 15 $150 calls @ $.05

Really not much left to get here so just taking them off.

BTC $UVXY Jan 8 $41 calls @ $0.50 when $UVXY was at $40.75 and market was sinking into the close.  Sold for $0.51 so broke even, but this looked like a slam dunk a couple of hours ago.  Sure glad I closed as $UVXY spiked from there.

Still trading very small and carefully.

STO $UVXY June $80 call @ $13.00

STO $UVXY Jan 18 $80 call @ $25.00

STO $UVXY Mar $165 call @ $2.95

STO 3 Jan 15 $70 calls @ $0.43

Staying small but these are 100% OTM with 6 more trading days.

STO Feb 5 $66 call @ $2.02

STO Feb 12 $66 call @ $2.56

STO Feb 19 $66 call @ $3.20

STO Jan 8 $41 calls @ $0.51 (expires friday)

BTC SVXY Jan 29 $63 calls @ $0.05

BTC UVXY Jan 8 21.5 puts @ $0.02

BTC Jan 15 $21 puts @ $0.02, sold for $0.50

BTC Jan 8 $24.50 puts @ $0.02, sold for $0.51

Was away from the market all day today.  Got back 15 mins before the close.  Got a couple of trades filled.

STO $VXX Feb 19 $33 calls @ $1.00

STO $UVXY Mar $165 call @ $2.50 (adding to position)

STO $UVXY Jan 22 $80 calls @ $0.92

STO $UVXY Jan 29 $80 calls @ $1.40

Not the best fills as by the time I got to trade, the market was well off it lows.  Kept things  very small just in case this is a multi-day event.

I was just popping in for a moment.  Will be away for the rest of the day.  Since I knew I was traveling and visiting family over the holiday’s, I purposely had very few options contracts this week.

A bit of an early ball spike but here is my lone remaining option expiring today:

$UVXY $24 puts

Have a great new years everyone.  See you next week.

Kelly

STO Jan 15 $21 puts @ $0.50 to replace $24 puts that should expire worthless on Thursday.

Spent some time thinking last night about how $SVXY is trading and the potential for additional volatility over the next month or two.  I have been selling short term calls (about 2 – 3 weeks out) at a level that would provide me a profit and would be OK having the stock called away.  This is really a Theta play.  The benefit was that if we got some short term good news/performance, I could get some shares called away or when the calls expired replace them with higher premium calls.  The downside is that the current premium is fairly low and if $SVXY pulls back further, I would be in a tough spot because my premium didn’t provide much protection and it might not pay to sell the next set of calls for a period of time.  I’m fearful that $SVXY gets close to $40 before it gets close to $60.  So I’m changing my tactic for the time being.  I’m now selling March and June calls with better premium and higher Delta than the short term calls I have been selling.  This gives me more protection in a pullback and if I’m wrong and the market runs up, gets me out of the stock at nice profits.

STO Mar $60 calls @ $3.50

STO Jun $55 calls @ $8.10

STO Jun $60 calls @ $6.10

BTC Dec 24 $56 calls @ $.02

STO Jan 8 $55 calls @ $.95

Feb options start today, but looks like highest strike is only $60, for now.

STO Jan 15 $150 calls @ $1.50

BTC Dec 31 $64 calls @ $0.05

STO Dec 31 $56 calls @ $1.00

Hopefully it can sustain some momentum for the next week or 2.  I think many of us would benefit greatly from this thing getting at least back to $65.

STO Jan 15 $63 calls @ $0.90

Today I’m taking advantage of a good up day in the market to take some profits and reduce short term exposure since I have no clue what the market reaction is going to be to the Fed Rate decision.

BTC $SVXY Dec 18 $55 puts

BTC $SVXY Dec 18 $40 puts

BTC $UVXY June $70 call (sold yesterday)

BTC $UVXY Dec 18 $45 calls

I have no $SVXY puts left for this week

Made 3 small trades this morning.  Really don’t want to do much until after the Fed on Wed.

STO Dec 18 $25 puts @ $0.20

STO Jun’16 $70 call @$15.00

STO Mar’16 $165 calls @ $4.50

BTC Dec 24 $64 Calls @ $0.05

I was away from the market for most of Friday.  I went into the day with 3 positions ready to expire.  $UVXY $40 calls, $SVXY $45 and $50 puts.  The only thing that would affect these was a big sell off, which is obviously what happened.  Early in the day it sure looked to me like there was little chance of the market bouncing, so with $SVXY about $49.50, I closed my $50 puts for $1 (sold for $0.50 so lost $150).  I closed my $45 puts to cover the loss and still book a profit just in case.  I held onto my $UVXY $40 calls as I did not think it would get there.  I checked on the market with about 1.5 hrs left until the close, $UVXY was about $37.5.  I was going to be in meetings the rest of the day so I closed out the position for $.15 (sold for $0.45).

So at the end of the day I had nothing left to expire.

STO Dec 18 $45 calls @ $0.62

STO Jan 15 $65 calls @ $1.10

STO Jan’16 $35 puts @ $0.55

BTC Dec 11 $65 calls @ $0.05

The S&P seems to have bottomed and is now making a higher high, $UVXY pulling back so made the following trades.

STO $UVXY Dec 11 $40 calls @ $.45

STO $SVXY Dec 11 $50 puts @ $.50

Made no attempt to catch the bottom so didn’t get the highest possible fills.  Waited for the market to tell me it was time to enter.

$SVXY just isn’t performing well.  $VIXY is about 4% above where it was a couple weeks ago but $SVXY is about 10% below where it was.  $VIX term structure has a nice contango going on ( >5%) but $SVXY still can’t manage to get out of it’s own way.

I have the fewest open put positions that I’ve had in years.  In the past with $SVXY this low, we would have been piling on the short puts in the out month’s bringing in big premium.  But with the way it is performing, I really haven’t been too tempted to do that.  I know Fuzzball has continued to sell some, but for the most part, I think we have been just continuing to let open positions burn off.  I really have all the shares I want right now.  If I had none, I’d be more aggressive on the put selling myself.  I was selling weekly puts about 8 trading days out and 8 to 10 points OTM but that premium has somewhat dried up so not as good a risk/reward.

$UVXY is only 10% above all time low, $SVXY is 40% below all time high.

Just too much uncertainty for me to be adding $SVXY exposure, sticking to $UVXY when opportunities present themselves.  Fed coming up.  Don’t know what will happen after year end chase for performance gets behind us.  Etc…

STO Dec 24 $64 calls @ $1.40

These are technically now double covered.  These will replace this weeks expiring $64 calls since I don’t believe there is much chance of $SVXY getting above $64 this week.