STO October 21, 90 puts @7.70
Category Archives: Contango ETFs
$NUGT – nice pullback
$NUGT – nice pullback
NUGT inversion
As an experiment I went inverted on my NUGT August monthly position a few days ago. Can’t remember what it started out as but I’ve been rolling the put side up all along against a short 155 call. Finally took the inverted plunge just to see how it works.
Position is now 165put/155call inverted strangle for net premium of 21.70. I can see a few different scenarios so here’s what I’m considering:
1. Stock closes outside the strangle then one side will expire. At that point I’ll roll the other side up or down as far as I can for even and then sell the other side. Hopefully can get the entire thing “un-inverted” and have credit jacked up close to 30.
2. If the stock closes in between the strikes I’ll let the position go for 10 bucks and pocket the remaining 11.70 that I’ve already collected.
3. Possibly close it at any point in time for something less than 21.70 and then reload a new strangle somewhere else.
NUGT mining
Bought to Close NUGT AUG 5 2016 155.0 Put @ .70 (sold for 5.40 after multiple roll ups to capture additional premium)
Fun with NUGT
Bought stock at 163.50 on the morning drop. Sold for 167.50 on the bounce. Seems like this thing always recovers a little after an opening drop…
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.
$NUGT #ShortPuts #IRA – bought…
$NUGT #ShortPuts #IRA – bought these two positions back at minimum value with no commission. This frees up cash in an IRA for other puts sales.
Bought to close 1 NUGT SEP 16 2016 29.0 Put @ 0.05 – originally sold for 2.50 on 05/19/2016
Bought to close 1 NUGT SEP 16 2016 28.0 Put @ 0.05 – also sold for 2.50 on 05/19/2016
So almost a $500 gain on a $5200 cash basis (taking into account the premiums up front) in 2.5 months. Not bad 🙂
I wish they were all this easy.
$UVXY $SVXY $NUGT
STO $NUGT Aug 19 $110 put @ $1.05
STO $SVXY Aug 12 $52 puts @ $0.50
STO $UVXY Aug 5 $34 calls @ $0.30 (was early on these)
STO $UVXY Aug 26 $58 call @ $1.05
STO $UVXY Sep 2 $58 call @ $1.50
STO $UVXY Sep 9 $58 call @ $1.80
NUGT
STO 2, August 12, 155 puts @6.30
I am short enough calls so would like to get long some stock to have a covered call position instead of naked calls.
NUGT reverse roll
Next week expiration:
Bought 1 180 call and sold 2 155 puts for 1.52 credit. Overall NUGT position still short but playing this breakout with shorter term puts. Still strangles for Aug and Sep with calls that are in the money now. I’ll see how these puts play out before any aggressive rolls on the put side of those strangles…
NUGT…inverted?
Great review of the tastytrade inverted strangle strategy this morning. May try it on one of my NUGT positions…
NUGT TOS Active Trader tab
Lost 33 dollars playing with NUGT in the TOS Active Trader tab. Seems like some interesting possibilities once you get the hang of it…
Gold doing nothing, $NUGT’s got…
Gold doing nothing, $NUGT’s got mojo, go figure.
$NUGT
STO Aug 12 120/230 strangle @ $2.45
NUGT roll
Was short this week’s 155/165 strangle from a roll last week. Don’t want to let the call get in the money so rolled to next week’s 180 call for even. Leaving this week’s 155 put where it is for now. Position is about delta neutral. Watching for now…
Rolling up NUGT put hedge
Rolled Aug 19 110 puts up to Aug 19 125 puts for 2.20 credit.
Expiration
$ALXN 117Put/136 Call (Straddle)
$NUGT 175 Call
$UVXY2 12 Call
$NUGT 120 Put
$NUGT 105 Put
$AMGN 162.5 Put (earnings play)
$GOOG 700/710 BUPS (Part of B/E Iron Condor)
$AMZN 640/650 BUPS
Closed 7/29 Early At Loss
$SPX 2180/2155 BECS
$SPX 2195/2170 BECS
$SPX 2175/2150 BECS
$GOOG 775/765 BECS (part of iron condor)
Assigned
$NUGT 160 Calls
$SVXY 60 Calls
Thanks for everyone’s help. Losing less on $SPX but
I will do better.
#OptionsExpiration #Weeklys #Jul29 – two…
#OptionsExpiration #Weeklys #Jul29 – two runaway freight trains, $SVXY and $NUGT, made this week hard to manage. I had to roll some more SVXY calls and even though I made a ton of money in NUGT puts, the run in the stock caused me margin issues.
I let a bit of AAPL and SVXY (IRA acct) get called away and let my last UVXY put position get assigned. Can Volatility stay this low forever? (Of course it can)
— Expirations —
CHK (Weekly) Jul 29 2016 5.5 Calls (Covered)
DUST (Weekly) Jul 29 2016 8 Calls (Covered)
DUST (Weekly) Jul 29 2016 8.5 Calls (Covered)
NUGT (Weekly) Jul 29 2016 92 Puts
NUGT (Weekly) Jul 29 2016 95 Puts
NUGT (Weekly) Jul 29 2016 108 Puts
NUGT (Weekly) Jul 29 2016 108.5 Puts
NUGT (Weekly) Jul 29 2016 109 Puts
NUGT (Weekly) Jul 29 2016 109.5 Puts
NUGT (Weekly) Jul 29 2016 110 Puts
NUGT (Weekly) Jul 29 2016 110.5 Puts
NUGT (Weekly) Jul 29 2016 111 Puts
NUGT (Weekly) Jul 29 2016 111.5 Puts
NUGT (Weekly) Jul 29 2016 112 Puts
NUGT (Weekly) Jul 29 2016 112.5 Puts
NUGT (Weekly) Jul 29 2016 113 Puts
NUGT (Weekly) Jul 29 2016 113.5 Puts
NUGT (Weekly) Jul 29 2016 114 Puts
NUGT (Weekly) Jul 29 2016 114.5 Puts
NUGT (Weekly) Jul 29 2016 115 Puts
NUGT (Weekly) Jul 29 2016 180 Calls
NUGT (Weekly) Jul 29 2016 185 Calls
SVXY (Weekly) Jul 29 2016 40 Puts
SVXY (Weekly) Jul 29 2016 43 Puts
SVXY (Weekly) Jul 29 2016 67 Calls
UVXY (Weekly) Jul 29 2016 (ns) 10 Calls (Covered)
UVXY (Weekly) Jul 29 2016 (ns) 11 Calls (Covered)
UVXY (Weekly) Jul 29 2016 (ns) 12 Calls (Covered)
UVXY (Weekly) Jul 29 2016 (ns) 14 Calls (Covered)
UVXY (Weekly) Jul 29 2016 (ns) 15 Calls (Covered)
UVXY (Weekly) Jul 29 2016 (ns) 30 Calls
— Assignments —
AAPL (Weekly) Jul 29 2016 103 Calls (Covered)
SVXY (Weekly) Jul 29 2016 61 Calls (Covered)
UVXY (Weekly) Jul 29 2016 (ns) 7 Puts
Options Expiration
$NUGT $70 puts
$NUGT $95 puts
$NUGT $100 put
$NUGT $230 calls
$NUGT $250 calls
$SVXY $35 puts
$SVXY $40 puts
$SVXY $47 puts
$UVXY2 $30 calls
This was one of those easy weeks where I never had any position that ever got challenged. Love weeks like that.
Have a great weekend. #optionsexpiration
Options Expiration 7/29/16
— Expiring —
FB 105,110, 112, 113, 114, 117 covered puts
NUGT 105 put
— Assignments —
UVXY2 9 put (should put me long 20 shares for 45.00 each)
BMY 76.5 puts – kept a third of my earnings trade for stock assignment
Thanks for a fun earnings week, everyone! More to come.
$NUGT
BTC Aug 05 $100 put for 0.25, sold 1.74 July 22
roll Jul 29 $150/170 BeCS out to Aug 19 for $3.15 cr, hoping the swing pattern continues
NUGT…another crazy day
Quick flipper:
Sold NUGT AUG 5 2016 130.0 Puts @ 3.00
Bought NUGT AUG 5 2016 130.0 Puts @ 1.70
Roll: (this is getting old)
Rolled this week’s 145 call (sold for 6.10 net so trying to keep that) into next week’s 155/165 strangle for even.
Back to work now…have a great weekend everyone!
NUGT sold Sept 19 240/250…
NUGT sold Sept 19 240/250 call spread for 1.24, put in for 1.15, go figure
Jan NUGT call
Sold $NUGT Jan 20 2017 250 call @ 30.00
NUGT sold this AM at…
NUGT sold this AM at $151.20, bought July 1 and added 27th at 138.70, 139.70. Originally buy writes with $140 calls, I rolled out and up over the next 4 weeks. I added long 170, 180 calls when price lower so have attractive BeCS. I wish I recalled previous pullbacks only to be followed shortly afterward with rally. Because I’m still in BeCS, wishing I closed out at noon ET near low of day. Maybe I’ll get another chance tomorrow. The pay is usually good, but the heart burn takes its toll.
NUGT put
Not even messing with this…unless I get a chance to sell it again!
Bought to Close NUGT JUL 29 2016 125.0 Put @ .20 (sold for 2.30)
NUGT split
#ContangoETFs As discovered by @john4419, NUGT will be forward splitting 5 for 1 on August 24th. That would put today’s price at 28.40. I guess they don’t like it being so expensive… probably cuts down on the volume too much. As @Ramie77 points out, it will likely reverse split again not too long after this forward split.
This will be its first ever forward split. It has reverse split 3 times, April 2013, Aug 2013, and just recently in October 2015.
NUGT was started in late 2010, opening at a split adjusted price of $19,580. Yes, you read that right. That’s why we always bet bearish long-term on ContangoETFs.
$NUGT
Bought To Close Aug 5th 100 Put @ 0.65. Originally sold 7/21 @ 2.28.
Sold To Open Aug 19th 110 Put @ 4.50.
Earnings mgt
#Earnings I have three condor/butterfly trades expiring tomorrow. Only ALXN is currently in profit range, but I’m preparing for reversals if they happen.
ALXN iron condor: BTC ALXN 117 puts for .05. Leaves me with 136/142 call spread, no downside risk. Order in to close 136 short calls for .25
BMY iron condor: BTC BMY 77 calls for .02.No upside risk. Need a rally back above 76.50.
BA iron butterfly: BTC BA 135 calls for .10. No upside risk. Need a rally back above 135.
NUGT roll
#ContangoETFs Closed a call and opened a put, which released a big chunk of margin.
BTC NUGT July 29th 175 call for .50. Sold for 5.90 on June 24th
STO NUGT Aug 26th 110 put for 6.00
NUGT
STO December 250 call @22.00 Thanks for the idea.
$NUGT
BTC Aug 5 $100 put @ $.67 (sold for $2.06)
STO Aug 5 $110 put @ $1.40
NUGT call
#ContangoETFs STO NUGT Aug 26th 200 call for 7.00
$NUGT
STO Aug 12 $220 call @ $1.11
Staying small until we see how far gold/$NUGT decides to run.
NUGT Dec
Sold $NUGT Dec 16 250 call @ 18.50. Highest strike in December.
NUGT put closed
#ContangoETFs BTC $NUGT Aug 12th 135 put for 13.10. Sold for 12.60 on 7/11. Small loss on this one but I’m closing it now as it is too close to the money going into Fed. I will replace this premium with a new strangle sale eventually.
NUGT
BTC September 30 put @0.10, sold for 2.47
$NUGT
BTC Jul 29 $180 call @ $0.12 (sold for $0.90)
Also looking to close out $175 call for $.20 or less if I can. Looking for Gold and $NUGT to go higher so wanting to take these off a little early and redeploy at higher prices.
$NUGT
STO Aug 12 $210 call @ $1.05
Got back from a meeting and saw that I got this fill. Looks like Ramie and I had similar ideas.
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.
$NUGT #ShortPuts – Sold 1…
$NUGT #ShortPuts – Sold 1 NUGT AUG 5 2016 85.0 Put @ 1.15
$DUST #CoveredCalls – Sold DUST…
$DUST #CoveredCalls – Sold DUST Jul 29 2016 8.0 Calls @ 0.20
Options Expiration
Back home from my trip. Here were my expirations on friday 7/22.
$NUGT $75 puts
$NUGT $95 puts
$NUGT $105 put
$NUGT $122.50 put
$NUGT $200 call
$NUGT $225 calls
$NUGT $250 calls
$SVXY $40 puts
$SVXY $43.50 puts
$SVXY $47 puts
$UVXY $30 calls
Options Expiration 7/22
Expired
$NUGT 250 Call
$NUGT 195 Call
$AAPL 100 Call (Covered)
$BIIB 240 Put (Earnings Play)
$MSFT 52 Put (Earnings Play)
$UVXY 30 Call
$SPX 1945/1970 BUPS
Closed on 7/22 Early
$SPX 7/29 1950/1975 BUPS @95%
Assigned
$UVXY @7
$SVXY @59.5
Lost All
$SPX 2135/2110 BECS
$SPX 2140/2115 BECS
Relax this weekend. NYC area nice and hot!
#OptionsExpiration #Weeklys #Jul22 – only…
#OptionsExpiration #Weeklys #Jul22 – only the continuing rally in SVXY and the decline in UVXY kept this from being a week when every short position expired.
— Expired —
AAPL (Weekly) Jul 22 2016 101 Calls (Covered)
CMG (Weekly) Jul 22 2016 300 Puts
CMG (Weekly) Jul 22 2016 305 Puts
DUST (Weekly) Jul 22 2016 7.5 Calls (Covered)
DUST (Weekly) Jul 22 2016 8 Calls (Covered)
HUM (Weekly) Jul 22 2016 140 Puts
NFLX (Weekly) Jul 22 2016 79 Puts
NUGT (Weekly) Jul 22 2016 109 Puts
NUGT (Weekly) Jul 22 2016 117 Puts
NUGT (Weekly) Jul 22 2016 117.5 Puts
NUGT (Weekly) Jul 22 2016 118 Puts
NUGT (Weekly) Jul 22 2016 210 Calls
SVXY (Weekly) Jul 22 2016 40 Puts
SVXY (Weekly) Jul 22 2016 45 Puts
SVXY (Weekly) Jul 22 2016 63.5 Calls (Covered)
SVXY (Weekly) Jul 22 2016 64 Calls (Covered)
SVXY (Weekly) Jul 22 2016 65 Calls (Covered)
SVXY (Weekly) Jul 22 2016 67 Calls (Covered)
UVXY (Weekly) Jul 22 2016 11 Calls (Covered)
UVXY (Weekly) Jul 22 2016 12 Calls (Covered)
UVXY (Weekly) Jul 22 2016 15 Calls (Covered)
UVXY (Weekly) Jul 22 2016 16 Calls (Covered)
UVXY (Weekly) Jul 22 2016 21 Calls
UVXY (Weekly) Jul 22 2016 22 Calls
UVXY (Weekly) Jul 22 2016 30 Calls
WDC (Weekly) Jul 22 2016 52.5 Calls
— Assignments —
UVXY (Weekly) Jul 22 2016 6.5 Puts – I used these to round up existing positions to multiples of 500 shares prior to the coming reverse split.
UVXY (Weekly) Jul 22 2016 7 Puts
UVXY (Weekly) Jul 22 2016 7.5 Puts
NUGT strangle
Sold $NUGT Aug 5 100/170 strangles @ 5.86. 70 points wide with NUGT at 135.60.
$NUGT #ShortCalls – Sold NUGT…
$NUGT #ShortCalls – Sold NUGT Jul 29 2016 185.0 Calls @ 0.75. Paired with Puts I sold yesterday with the stock 10 points lower.
NUGT
STO September 250 call @5.10
$NUGT
Sold Aug 5th 100 Put @ 2.28. Stepping cautiously with a single contract.
One question: In the category selection which is the best descriptor(s) to use for this. Thanks
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
STO Jul 22 $122.50 put @ $1.00
STO Jul 29 $100 put @ $1.20
Also sold a very small number of calls, not the best time to be doing that, but I’m a little heavy on puts so needed to add a few calls just in case. I was early with these.
STO Jul 29 $180 call @ 0.90
STO Aug 5 $200 call @ $1.20
NUGT short calls
Selling calls to create a strangle with the 105 puts I sold yesterday. Sold $NUGT Jul 29 175 calls @ 1.30.
$NUGT bought Jul 22 $145…
$NUGT bought Jul 22 $145 call for 0.70, sold 7/14 for 19.52, now to get the price of NUGT back up to 145.
NUGT #ShortPuts – Sold NUGT…
NUGT #ShortPuts – Sold NUGT Aug 19 2016 70.0 Puts @ 1.10 with the stock at 123.13
NUGT roll
Rolled $NUGT Aug 130 puts down and out to Sep 123 puts for 2.50 credit.
$DUST #CoveredCalls – sold these…
$DUST #CoveredCalls – sold these today with the stock at 7.0.
Sold DUST Jul 29 2016 8.0 Calls @ 0.25
Sold DUST Mar 17 2017 12.0 Calls @ 1.50. Highest available strike price
$NUGT #ShortPuts – sold both…
$NUGT #ShortPuts – sold both these
Sold NUGT Jul 22 2016 109.0 Puts @ 0.55 – these expire in 2 days
Sold 1 NUGT Jul 29 108 Put @ 3.60
NUGT call closed
#ContangoETFs Bought to close NUGT Aug 12th 250 call for .50. Sold for 8.10 on July 8th.
Wide bid/ask spread but I was filled immediately.
$/GC $GLD $NUGT
Gold itself has been acting better than the miners today, could be a sign of some distribution. Rotating out of the miners and into Tech or something else.
NUGT puts
Selling some more puts into the down move. Proceeding cautiously.
Sold $NUGT Jul 29 105 puts @ 1.80.
NUGT again
Little bounce there so:
Sold NUGT JUL 29 2016 160.0 Call @ 3.50
Looking to add put side soon…
$NUGT
Seems to be stabilizing, at least for now.
STO Aug 19 $80 puts @ $1.70
STO Jul 29 $95 puts @ $0.65
Want to add some short calls if we get more of a bounce. Will be short term and likely $175 or higher.
NUGT adjustment
Sitting on an August 125/200 strangle from a rollout that only brought in 2.90 net after the roll. Making a delta adjustment and adding some premium to make it seem more worthwhile to hold this thing.
Rolled the 200 call down to 170 for 4.15 credit. Still above all time high bringing total strangle premium to 7.05…
Still looking to add some shorter term calls if the chance comes along….
NUGT roll
#ContangoETFs Avoiding going ITM on this one…
BTC NUGT Aug 5th 135 put for 15.00. Sold for 11.60 on 7/6
STO NUGT Aug 26th 100/180 strangle for 15.34
NUGT…getting out of the way for now
Bought to Close NUGT JUL 22 2016 135.0 Put @ 6.10 (sold for 3.10)
Bought to Close NUGT JUL 29 2016 190.0 Call @ .78 (sold yesterday for 3.40)
38 cent loss on these so combined with the closing yesterday of this week’s call for a 2.20 gain still a decent week. Not going to ride the put side of this thing into a smoking hole so happy to be out with good profit. Looking to re-sell some calls on a bounce later…
$NUGT taking a hit pre-market,…
$NUGT taking a hit pre-market, I hope it bounces. I had expected to close out my position at the end of this week. Looks like an adjustment is required.
Long stock, short Jul 22 $145 call and $170 call. Closed $140 put yesterday at $2 profit.
NUGT
Is a descending triangle pattern forming? The triangle is not too prominent, so I’m not sure if it would qualify as one.
NUGT puts closed
#ContangoETFs Closing a couple at better than 85%, paving way to sell more on bigger moves
BTC NUGT Sep 35 put for .20. Sold for 1.80 on June 3rd
BTC NUGT Aug 5th 80 put for .40. Sold for 3.90 on June 29th
NUGT…keep the theta rolling
Bought to Close NUGT JUL 22 2016 195.0 Call @ .30 (sold for 2.50 as part of a weekly strangle)
Sold to Open NUGT JUL 29 2016 190.0 Call @ 3.40
I’ll add next week’s put side once this week’s looks a little safer.
$NUGT
Sold both 145 put and 170 call expiring Friday for $10 and $8.60 respectively. Should be easy money, so far.
NUGT
STO September 90 put @5.60 on 1 contract.
$NUGT
Putting a small amount of money to work after last weeks expiration.
STO July 22 $200 call @ $.85
STO July 29 $230 call @ $1.10
Expiration @ Full Profit
$NUGT 200 Call
$NUGT 125 Put
$NUGT 60 Put
$OAS 11 Call (covered)
$UVXY 16 Call (covered)
$SWN 15 Call (Covered)
$ETP 37 put
$ETE 15 Put
$ETE 12.5 Put
$TSLA 170/180 BUPS
$CMG 385/395 BUPS
$AMZN 660/670 BUPS
$AMZN 690/700 BUPS
Closed Friday to Avoid Assignment
$GILD 80/90 BUPS @ 34% profit
$UA 35/40 BUPS @ 84% profit
$TSLA 230/220 BECS @ 54% profit
Buy/Writes Assigned
$DRII @25 Basis 22.1
$TWTR @17 Basis 16.03
$WDC @45 Basis 42.35
$CNX @15 Basis 14.22
$ALNY @55 Basis 59.5
$CY@10 Basis 9.5
Complete Loss
HELD ON TOOOOOO LONG!
$SPX 2125/2100 BECS
Wiped out most of a very good expiration. Please have stops
and abide by them. Repeat 1000X
Best of trading to all next week and thanks for the great support on this site.
#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)
Options Bistro 