#SPXcampaign #CondorRoll Sold to Open Dec 2nd 1900/1925/2225/2250 iron condors for 2.10. Rolled from Nov 25th spread stopped earlier, using 1.5x position size.
Category Archives: SPX Campaign
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 25th 2210/2235 call spreads for 1.50, with SPX at 2126.
SPX puts stopped
#SPXcampaign STOPPED Bought to close $SPX Nov 25th 2025/2000 put spreads for 2.85. Sold for 1.55 on Tuesday. Looking to roll into an iron condor, Dec 2 expiration.
SPX same-day puts closed with loss
#SPXcampaign STOPPED Bought to close $SPX Oct 28th 2120/21000 put spreads for 2.85. Sold a few minutes ago for 1.35. Can’t bat a thousand on ’em all! Ugly looking, and with the spread ATM, this price can move against me super fast. Will consider rolls next week. For now, looking to take a stop on a Nov 25th spread.
VIX Indicator signal fired
#VIXIndicator A third signal fired today. After the Warning fired (Oct 13th), additional warnings mean continued volatility but can also signal a market bottom. So it is best to remain on guard after the Warning until it is canceled.
SPX same-day puts
#SPXcampaign Sold to Open $SPX Oct 28th 2120/2100 put spreads for 1.35. Expiring in 2.5 hours.
SPX calls closed
#SPXcampaign Bought to close $SPX Nov 4th 2185/2210 call spreads for .20. Sold for 2.25 on Oct 19th. I’ve been trying to sell a call spread, but instead one closed.
Some Trades
Expecting good Christmas sales
STO
$AMZN 1/20/2017 720/770 BUPS @ 15.50
$AMZN 12/16/2016 720/770 BUPS @ 13.85
$AMZN 11/18 730/740 BUPS @ 1.40
$AMZN 11/18 760/770 BUPS @ 3.25
$SPX 11/23 1955/1980 BUPS @ 1.25
$UVXY 12/2 35 call @ .39
Rolled
$CMG 10/28 370 put to 11/11 360 put for 2.20 credit
SPX puts sold
#SPXcampaign Fourteen minutes after the close, Sold to Open $SPX Nov 25th 1980/1955 put spreads for 1.40.
SPX call spread
SPX nov wk2 2195/2220 STO for $1.80
completes condor.
SPX call spreads
Bought to Close SPX OCT 28 2016 2170.0/2180.0 Bear call spreads @ .20 (sold for 1.25)
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 25th 2215/2240 call spreads for 1.30, with SPX at 2140.
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 4th 2090/2065 put spreads for 1.90, with SPX at 2142. This is a bonus spread expiring next Friday.
SPX trading with Whiz
Bear call yesterday and bull put today for this Friday. I’m much safer and wider wings than him but kinda using his idea.
2170/2180 @ 1.25 BeCS yesterday
2125/2115 @ 1.30 BuPS today
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 25th 2025/2000 put spreads for 1.55, with SPX at 2150.
SPX Trade on Small Account.
STO Nov 4 SPX 2190/2195 BeCS for $0.35
According to a friend selling one of this each week will get a 2.5% Return per week. I placed this on an account with less than $10k. Max loss is $465.
Any thoughts.
I added a BuPS on the SPX for the same expiry. 2085/2080 for $0.30 to complete the IC. No more Margin and more return.
SPX put spreads closed
#SPXcampaign Bought To Close $SPX Nov 4 1975/2000 put spreads @ .15, sold on Oct 4 @ 1.40
SPX IC closed
$SPX Nov 9 2250/2240/2010/2000 closed for 0.45.
Originally sold for 1.20 on 10/10. 62.5% max profit.
While this market remains in this trading range, this approach to profits is working well.
SPX puts closed
#SPXcampaign In pre-market, bought to close $SPX Nov 4th 2010/1985 put spreads for .20. Sold for 1.45 on Oct 4th.
GS earnings trade closed
#Earnings I closed the call spread for 2.30, but it is currently closable for breakeven. Get out now unless you think we could drop closer to 170 by the close.
Closed Early
$SPX 10/28 1975/2000 BUPS @ 90% profit
$SPX 10/28 2225/2000 BECS @ 94% profit
Assigned early on OPHT 10/21 45 put Shares at 42.10 basis
Trades
Sold
$SPX 11/18 2250/2225 BECS @ 1.10
$SPX 11/4 2210/2185 BECS @ 2.05
$SPX 11/18 1935/1960 BUPS @ 1.50
$NFLX 11/18 135/130 BECS @ .90
BTO $BAC 1/20/2017 16 call @ 1.12
STO $DUST 10/21 puts @ .45
STO $NFLX IC 113/118/123/118 @2.65
Thanks to all for input
SPX puts sold
#SPXcampaign On the lowest tick of the day, this order filled: Sold to Open $SPX Nov 17th 1990/1965 put spreads for 1.45, with SPX at 2133.
SPX calls closed
#SPXcampaign Before selling the spread below, this one closed 9 minutes after the open: Bought to close $SPX Nov 4th 2215/2240 call spreads for .20. Sold for 1.65 on Oct 7th.
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 17th 2215/2240 call spreads for 1.50, with SPX at 2146.
$SPX IC closed at 60%
Another IC closed this morning at 60% max profit.
BTC SPX Nov 4 2220/2210/2000/1990 for 0.40.
Sold this originally for 1.05.
I know it may seem like these are little amounts. Yes, only 0.65 minus commissions. These add up. I’m actually having one of my best months ever.
Thanks to @Jeff for getting me interested in $SPX spreads last year with the #SPXcampaign, and thanks to TT for helping me see that getting out at the 50% level is profitable for the long run.
Expired $SPX 10/19 2325/2210 BECS
Bought 9/30 @2.10
Options Expiration 10/19/16
#OptionsExpiration #SPXcampaign
Expiring today $SPX Oct 19th 2055/2080/2150/2175 iron condors, sold as a roll last Thursday for 5.25.
SPX call spread
Nov Wk4 STO SPX 2230/2255 sold for $1.30 when SPX at 2146
$SPX iron condor closed
BTC SPX Nov 18 2250/2240/1980/1970 for 0.80
Sold on 10/3 for 2.05.
Closed in keeping with discipline at 60%
SPX extra calls sold
#SPXcampaign My call spreads for Nov 4th were already closed for profits, but since I still have some put spreads open, I sold an extra call spread to offset:
Sold to open $SPX Nov 4th 2185/2210 call spreads for 2.25, with SPX at 2141.
SPX puts closed
#SPXcampaign Bought to close $SPX Oct 28th 202/1985 put spreads for .2o. Sold for 1.30 on Sept 29th.
SPX puts closed, calls sold
#SPXcampaign In Pre-market, bought to close $SPX Oct 28th 2000/1975 put spreads for .20. Sold for 1.35 on Sept 26th.
Sold to Open $SPX Nov 17th 2225/2250 call spreads for 1.55, with SPX at 2143.
$SPX puts closed
BTC SPX Oct 28 2050/2040 for 0.40.
Sold 5 days ago for 1.00. Continuing to close these at 60% max profit.
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 28th 2200/2225 call spreads for .20. Sold for 4.50 on Oct 5th.
SPX call spreads closed
#SPXCampaign BTC Nov 4 $SPX 2220/2245 call spreads closed @ 0.20, STO @ 1.60 on Oct 10.
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 17th 1960/1935 put spreads for 1.50, with SPX at 2127.
I am still selling put spreads, even with a Downside Warning in effect. Everything has remained fairly orderly in the SPX so I’m not spooked yet. I will take profits early or stop out if anything violent starts happening.
My Take on the SPX (for what is worth…)
I’ve been looking at the SPX chart and both the 78 min and the Daily are showing a very bearish pattern. Jeff’s VIX indicator issued a downside warning on Oct 13, so I believe that we may be going down probably the next couple of weeks. That doesn’t mean that each day may be a down day though. There will be up days mixed in with down days; But IMHO, the direction now is mostly bearish. Unless the Feds do something to change the direction before the elections. Who knows?
Expiration 10/14/16
Expiration with max profit
$SPX 10/14 2220/2245 BeCS sold for 1.30 9/14
$SPX 10/14 1925/1950 BuPS sold for 1.50 9/14
$SPX 10/14 1920/1945 BuPS sold for 1.10 9/18
Expiration Total Profit
$FB 126 put
$SPX 19/15/1940 BUPS
$SPX 2075/2100 BUPS
Sold Early
$FB 10/21 125 Call BTO 4.50 STC 3.57
$FB 11/18 130 Call BTO 4.80 STC 3.78
Trades
$SPX 11/11 1955/1980 BUPS @ 1.30
$SPX 11/11 2245/2220 BUPS @ 1.95
SPX Put spread sold
SPX nov 16 put spread 1970/1945 sold for $1.50 when SPX at 2135
SPX puts sold, puts closed
#SPXcampaign Sold to Open Nov 11th 1980/1955 put spreads for 1.30, with SPX at 2137.
Earlier: Bought to close $SPX Oct 20th 2050/2025 put spreads for .20. Sold for 1.30 on Sept 22nd.
Oops! Not paying attention.
It pays to pay attention to your trades. Was “trying” to add a call spread to an SPX Oct 28 put spread that I sold yesterday. Instead of selling, I bought an SPX call spread, the Oct 28 2190/2200 for 1.25. It’s still sitting at the same price so I could just get out now and realize it pays to pay attention. Or, I could hold a while and see if today continues to go up and then sell it for a little profit.
Thoughts? You can just tell my I need to pay attention to my orders and I’ll take my lumps and get out of it now. 🙂
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 11th 2220/2245 call spreads for 2.00, with SPX at 2144.
SPX Kind of trying Jeff’s…
SPX
Kind of trying Jeff’s idea on fear with trading. I’m afraid of the big numbers so my put spread is Nov. 25 2145/2135 for 4.10.
Is the VIXIndicator punking us?
#VIXIndicator Well, if that was a near-term bottom today, that will be three Downside Warnings in a row that occurred on the day of the market bottom… Brexit in June, last month and this month.
That is not the historical norm, but if it’s becoming a new reality I may need to look at some adjustments. The main purpose of the Downside Warnings is to avoid huge dumps like August 2015. For the bigger corrections, it has always given fair warning before the huge dive. It may just be that it is less useful on these smaller dips.
SPX next-day spread closed same day
#SPXcampaign Bought to close $SPX Oct 14th 2090/2065 put spreads for .40. Sold 2.5 hours ago for 2.10.
Overcoming fear
It’s the toughest thing about trading, and nothing has provided a bigger leap away from fear than my recent experience of managing an ITM call spread. I was short the August 2130/2155 call spread as the SPX reached all time highs of 2193. It was a big trade, too, over twice my normal size, and it sucked as the index went through my strikes (I had already rolled several call spreads, but let this one sit). But as it sat there ITM for days and then weeks, I grew more relaxed and started exploring ways to roll my way out. I figured a system, without increasing position size, and started rolling it one week before it expired. All it would take is a decent pullback or two and I’d be out. It took about 6 rolls and now I’m out with no loss, in fact retaining the profit I expected on the original trade.
Going ITM and realizing max loss seems to be a great fear for many option traders. To help overcome it, I suggest trading an ITM spread on an index. Indices do not have huge overnight gaps like stocks, and there is no possibility of early assignment, as they are cash settled at expiration, never earlier. Your risk never changes, whether you are 100 points OTM or 100 points ITM (except with Portfolio Margin, which is unpredictable).
Today, I sold a 1-lot:
Sold to Open $SPX Nov 25th 2175/2150 put spread for 14.00. I will wait until mid November to even worry about it. It will be similar to having a trade go against you, except we now have the benefit of a very fat credit upon entry, rather than the 1.30 or so for which we usually sell these spreads.
Feel free to join if you are looking to overcome some of your fear. If you do it, understand that if it remains ITM in November, we may be selling condors or extra options during the rolls. But as before, I do not plan to increase risk very much. #SPXcampaign #FearTrade #ITMrolling
Fat fingered stop
#SPXcampaign I was holding the $SPX Oct 19th 2100/2075. My stop was the September lows, so when we broke that this morning, I considered closing it. I entered a stop price of 5.40, but did not want to submit the trade until I saw how the bounce would act. Well, guess what? I mistakenly submitted it.
As many expected, the 2120 area held (so far). But it’s done, so I decided to roll into an iron condor with the same expiration and same number of contracts. No doubt risky, probably more to the upside. But I will roll either side, if either are threatened.
Stopped: Bought to close SPX Oct 19th 2100/2075 put spreads for 5.40. Sold for 2.75 last Thursday.
Rolled to: Sold to Open SPX Oct 19th 2055/2080/2150/2175 iron condors for 5.25. Paid a .15 debit on the roll, but that’s okay since I brought in a heft 2.75 on the initial sale.
SPX next-day puts sold
#SPXcampaign — risky as we are still dropping…
Sold to Open $SPX Oct 14th 2090/2065 put spreads for 2.10, with SPX at 2115.
Downside Warning fired
Downside Warning fired
Trades
STO $SPX 11/11 1965/1990 BUPS @ 1.35
STO $UVXY 10/21 19 calls @ .38
STO $LOCK 11/18/ $17 straddle
BTO $FB 11/18 130 call
Closed Early
$SPX 11/4 2260/2235 BECS @ 81% profit
$SPX 10/21 2250/2225 BECS @ 92% profit
$NFLX 10/21 95 call @ 10.35 STO @ 8
Rolled
$NUGT 10/21 18 put to 10/28 19 put for 1.01 added profit (But gold must go UP) or roll we must
SPX call spreads closed
#SPXcampaign Bought to close $SPX Nov 4th 2235/2260 call spreads for .20. Sold last week for 1.40.
VIX Indicator and SPX Charts have been updated
The VIX came within .06 of firing a second signal today. This does not mean that if it had done that, there would be a much greater chance of a correction… it’s just sticking with the rules and trading by them. No Warning yet means remain cautious but continue the #SPXcampaign as normal… sell both call and put spreads, roll if stops are hit, and close for 80-90% of max profit.
SPX condor roll sold
#SPXcampaign #CondorRoll
Sold to Open $SPX Nov 11th 1900/1925/2225/2250 iron condors for 2.00. This is a roll from earlier stopped spread, at 1.5x position size.
$SPX iron condor
Went a little further out to Nov 25 at 44 DTE, but premium is pretty juicy today.
STO Nov 25 2230/2220/1980/1970 @ 2.25
Will look to manage at 60% max profit as usual.
SPX puts stopped
#SPXcampaign This one hit the 3.00 stop level: Bought to close $SPX Nov 4th 2050/2025 put spreads for 2.80. Sold last Friday for 1.85. Will look to roll today or tomorrow.
SPX put spreads sold
STO Nov 11 1990/1965 puts @ 1.40 when SPX @ 2148
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 28th 2230/2255 call spreads for .20. Sold for 1.30 on Sept 27th.
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 11th 2000/1975 put spreads for 1.30, with SPX at 2156.
SPX calls closed
#SPXcampaign In Pre-Market, bought to close $SPX Oct 14th 2185/2210 call spreads for .80. Sold for 7.60 on Sept 28th. I’m nearing the end of my ITM rolling, recouping all losses from a few spreads that went completely ITM over the summer.
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 11th 2240/2265 call spreads for 1.55, with SPX at 2169.
SPX puts sold
#SPXcampaign STO Nov 4 2220/2245 call @ 1.60, SPX @ 2168, coupled with SPX Nov 4 2000/1975 put @ 1.40 sold on Oct 4 now an iron condor.
$SPX iron condor — an extra
Took an extra SPX iron condor for a Wednesday expiration. Don’t usually do those but looked good.
STO SPX Nov 9 2250/2240/2010/2000 @ 1.20.
Expired 10/7
$SVXY 45 put
Closed Early 10/7
BTC $NFLX 110 call @ 3.98 Sold @ 1.66 as part of strangle with 85 put
BTC $NUGT 1/20/2017 37 call @ 4.00. Sold @ 23.50 6/29
Assigned $ULTA @ 240 from 235.240 BUPS expiring while I was not WATCHING
Trades 10/7
STO $SVXY 1/20/2017 45 put @ 2.20
STO $SPX 10/28 2225/2200 BECS @ 3.80
STO $SPX 11/4 2240/2215 BECS @ 1.60
Options Expiration 10/7/16
–Expiring–
$FB 125 covered put
$NUGT 23 and 30 calls
$SPX 2190/2215 call spreads, sold last Friday for 3.50
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 19th 2210/2235 call spreads for .20. Sold last Friday for 2.10.
SPX call spread sold
#SPXcampaign Sold to Open $SPX Nov 4th 2215/2240 call spreads for 1.65. Tried selling the 2220 short spread this morning for 2.00 on the pop up, but missed the fill and watched my dreams dissolve away.
Next week I’ll be selling Nov 11th spreads, starting with calls first thing Monday.
SPX call spread closed and iron condor closed
BTC Oct 21 2200/2210 for 0.60. Sold this 2 days ago for 1.45. That’s 58% max profit, close to my 60% ideal.
BTC Nov 4 2240/2230/2000/1990 for 0.75. Sold this for 1.85 on 9/26. That’s 59% max profit. Again, close to my 60% ideal.
Too many times I’ve tried to hang in there to collect it all, only for things to go sour and have to roll or chase or just plain lose money. Will continue to close these spreads in this way as long as it’s making me good money.
SPX Put sold
#SPXcampaign STO $SPX Nov 4th 2020/1995 put spreads for $1.50 when SPX at 2145
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 28th 2235/2260 call spreads for .20. Sold for 1.25 on Sept 28th.
SPX puts sold, calls closed
#SPXcampaign Sold to Open $SPX Nov 4th 2050/2025 put spreads for 1.85
Bought to close $SPX Oct 20th 2225/2250 call spreads for .20. Sold for 1.55 on Sept 19th.
Some Trades
STO
$SPX 11/4 2260/2235 BECS @ 1.20
$SPX 11/4 1985/2010 BUPS @ 1.20
$DUST 12/16 60 call
$NUGT 10/21 12 put
$OPHT 10/21 45 put
BTC
$NUGT 11/4 29 call @.10 Sold 9/29 @ .80
$NUGT 1/20/2017 50 call @ .50 Sold 7/29 @ 31.50
$SPX 10/14 2245/2220 BECS @ 83% profit
$SVXY 1/20/2017 30 put @ .60 Sold 1/11 @ 6.60
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 19th 2100/2075 put spreads for 2.75. This is an extra spread to offset my call spread with the same expiry. I will stop and roll if we break the Sept 12th low of 2119.
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 20th 2225/2250 call spreads for .20. Sold for 1.55 on Sept 19th.
Options Bistro 