Bought to Close SPX APR 29 2016 1550/1525 Bull put spreads @ .35 (sold for 1.70)
Category Archives: SPX Campaign
Closing BeCS for loss…
It looks like we are going higher, so I closed 2 BeCS for a loss…Now I got to sell something to makeup the loss, but I won’t be doing any BeCS, so it’ll have to be something else.
SPX puts closed
#SPXcampaign Bought to close $SPX March 11th 1840/1815 put spreads for .30. Sold for 1.70 on Monday.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 11th 2000/2025 call spreads for 5.90. Sold for 1.30 on Feb 8th. Uptrend knocking’ down my spreads like dominos! Will work on rolls in coming days.
Also, earlier today, forgot to post
STO $SPX March 11th 1900/1875 put spreads for 1.80.
SPX same week
#SPXcampaign Sold to Open $SPX March 4th 1935/1910 put spreads for 1.60. Playing it a bit close but strength seems to continue, so not expecting a collapse this week. Plan to be out of this today if the rally continues.
SPX calls stopped
#SPXcampaign BTC $SPX March 4th 1980/2005 call spreads for 7.40. Will implement rolls in the coming days.
Call spread in SPX for…
Call spread in SPX for the April monthly series
Sold $SPX 4/15 2095/2120 call spreads for 1.40 with SPX at 1973. Short strike is around 1 standard deviation (=2090). Another 120 points in the S&P would bring us right back up to the early Dec highs.
SPX put spreads
#SPXcampaign #Rolling Selling the other half of my roll; closed 1960-1985 call spread last week for 7.70. Sold new call spread earlier today for 5.50, selling this one, double-size, for 1.30; so netting additional .40 on the roll (added to the 1.25 initial spread was sold for).
STO $SPX March 24th 1825/1800 put spreads for 1.30.
Also need to stop out of the March 4th 1980/2005 call spread… ripped past my stop point while I was away from the desk this morning. Been closing and rolling anything that gets within 20-points.
SPX Rally
SPX hitting resistance now at 1971.66…This is a critical resistance level since it is a K-Node from several different retracements and extensions.
SPX Call Spread
STO Mar 11 2020/2030 for 1.10
SPX call spreads
#SPXcampaign This is probably the last time I can sell call spreads on this trend. I will start to have a lot of stop-outs if we continue toward 2000. VIX hits a new 2016 low and heading toward the key 16.93 level.
STO $SPX March 17th 2005/2030 calls for 5.50, as a roll from spread stopped last week.
STO $SPX April 1st 2070/2095 calls for 1.25.
SPX – completing iron condor
STO Mar 24 1820/1810 BuPS for 0.95 which completes IC for this expiration.
Already had 2040/2050 BeCS for .70. Total of 1.65 for this IC.
…another put spread in the wall
#SPXcampaign STO $SPX April 1st 1735/1710 put spreads for 1.25, with SPX at 1937.
SPX puts sold
#SPXcampaign Sold to Open $SPX March 11th 1840/1815 put spreads for 1.70, with SPX at 1937. Trying to sell another spread but chasing the bounce.
Support & Resistance for Mon Feb 29th, 2016
Resistance 1960-62; 1971-73; 1975-78; 1984-85; 2010-12;2023-25
Support: 1900-04; 1885-87; 1865-69.
SPX calls closed
#SPXcampaign Put in an order to close in case we dropped into the close, and it filled after the close;
BTC $SPX March 4th 1960/1985 call spreads for 7.70. Will work on rolls next week. I think a pullback happens next but had to clear this one away in case we awake Monday to another rally.
SPX call roll
#SPXcampaign #Rolling Sold to Open $SPX March 24th 2005/2030 call spreads for 7.20. Part of a roll from this morning’s stopped spread.
SPX puts closed
#SPXcampaign Bought to close $SPX March 4th 1800/1775 puts for .15. Double position sold as part of a roll for 1.45 on Feb 18th.
SPX roll
Rolled my 1960/1970 SPX today’s expiration, to next week for credit. I think this market goes down, so staying at same strikes and will try to get some more profit here instead of risking it today. Had originally STO yesterday for .70, and rolled for additional 1.80 credit today.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 4th 1975/2000 call spreads for 9.00 in premarket. Started already with some roll positions and will add more in coming days.
PANW and SPXW in danger today.
Took what looked like a safe PANW IC yesterday before earnings, then the pre-release junk happened and the call side will be threatened today. @Jeff, any thoughts on salvaging this?
Also have a $SPXW 1960/1970 call spread that looks threatened.
With the PANW, I was very aware of the possibility of this going bad, as all earnings plays are somewhat of a surprise, but we all hate to lose anything. Just talking out loud here and thinking what to do about these today.
VIX plummeting
#SPXcampaign The VIX closed below a key support level of 19.20, signaling the bulls are proving themselves further. VIX is at a decision level; will it proceed down to 16.93, signaling an end to near-term downside risk, or bounce off the B-bands and signal more volatility? SPX call spreads have been under pressure and I will be executing some rolls today. To start, I sold a put spread in pre-market:
Sold to Open $SPX March 18th 1850/1825 put spreads for 2.00. This is an aggressive position designed to offset my call spreads.
$SPX call spread in 4/1
Sold $SPX Apr 1 2065/2090 BeCS @ 1.35.
Short strike is right in the middle of all that resistance from December.
Delta is 07, 1 standard deviation is 2058.
I’ll be pretty happy if I have to close this for a loss or roll it.
Closing put spread in SPX
Bought to close $SPX Mar 11 1665/1640 put spread for .10. Sold for 1.30 on 2/5.
SPX Support and Resistance Levels for Thu Feb 25, 2016
Support at 1916-17 and 1907-09 and then where it turned up yesterday at 1890-94….1897 is a 61.8% of the previous down move and 1876 is the 100% of that move.
Resistance is still at the 1945-47 level…for the SPX to move higher, it needs to break above this level…There is intermediate resistance at 1934-35 and 1939-41 Levels which could slowdown the SPX somewhat.
IMHO, today could be one of those boring days…good for Theta decay.
5-hour spread closed
#SPXcampaign Bought to close $SPX Feb 26th 1850/1825 put spreads for .20. Sold this morning for 1.30.
SPX call spread
#SPXcampaign Sold to Open $SPX Mar 24th 2025/2050 call spreads for 1.60, with SPX at 1910.
Are SPX Dailys next?
#SPXcampaign I have joked for awhile that with the advent of weeklys we would eventually see “Dailys”, where stocks like AAPL and SPY and indices like SPX will have different options series expiring EVERY trading day. Well, it looks like we’re getting closer to that craziness…. (thanks to @alsumde for bringing this to my attention):
Extended Listings For Equity, ETF, ETN And Index Weeklys Options. Check Wednesday rule starting on 2/23/2016
In January 2014 CBOE issued Regulatory Circular RG14-010 re: “Expansion of Number of Expirations Listed in S&P 500 Index Weeklys Options (SPXW).” The circular provides that CBOE will list out and maintain six consecutive SPXW expirations at once, not counting the current expiration.
SPX Weeklys options (part of SPXW) are options that are listed to provide expiration opportunities every week. SPX Weeklys expiring at the end of each week (End of Week – EOW) are typically listed on Thursdays and expire on Fridays. As of February 23, 2016, CBOE began offering Wednesday Weeklys (also part of SPXW), which are typically listed on Tuesdays and expire the following Wednesday. (Note that EOW Weeklys or Wednesday Weeklys are not listed if either would correspond with a currently listed option, i.e. regular 3rd Friday or SPX End of Month – EOM options).
SPX Weeklys are PM-settled on the last trading day, typically a Friday for SPX EOW Weeklys, or a Wednesday for SPX Wednesday Weeklys. As with other PM-settled index options, the exercise-settlement value is calculated using the last (closing) reported sales price in the primary market of each component stock. On the last trading day, trading in expiring SPX Weeklys closes at 3:00 p.m. (Chicago time). All non-expiring SPX Weeklys continue to trade until 3:15 p.m. (Chicago time). For standard PM-settled, S&P 500 options that expire on 3rd Fridays, see ticker SPXPM.
These options are already tradeable at Interactive Brokers. They will be nice to use for rolls or occasional short-term spreads. This morning I sold the 1850/1825 spread for 1.35… got up toward 2.00, now is only .70. With the Wednesday options, there will be more opportunities for short-termers in these volatile markets.
SPX same week puts
#SPXcampaign Sold to Open $SPX Feb 26th 1850/1825 put spreads for 1.30, with SPX at 1899. These expire Friday.
SPX Support Levels
GM. Today’s support levels for the SPX are the same as yesterday’s.
1930-28; K-Node at 1917-20; top of gap at 1896-1900; 1894-95 and 1860-62.
SPX pre-market close
#SPXcampaign In pre-market fill, bought to close $SPX Feb 26th 1980/2005 call spreads for .20. Sold for 1.35 on Feb 10th.
SPX puts sold
#SPXcampaign, showing down the gauntlet and selling a put spread, which will probably allow this market to start dropping precipitously. This is the first 5-week put spread I have sold in two weeks.
Sold to Open $SPX March 24th 1750/1725 for 1.35, with SPX at 1931.
VIX levels
As I posted yesterday, VIX has reached support level of 19.20. Yesterday’s close was lowest in 2016 and the 6th straight day lower, which we hadn’t seen since the October rally. Today should be a key day.
SPX BeCS
STO Apr 1 2050/2060 BeCS for 1.05
Sorry, that was for April 1 expiration
SPX, sold to open 2035/2060 call spread for 3.30
SPX and VIX levels
1950 a key level in SPX… not only a K-node for the Fib lines (Robert’s post below) but also the Feb 1st swing high. Also, VIX coming down to 19.20 level, which is the 100%-mark above Oct 28th low. This was support on Feb 1. If we can break these SPX and VIX levels decisively, it’s quite bullish.
Bought to close March 11, 1640/1665 bull put spread for 0.15, sold at 1.40
SPX roll
#SPXcampaign Although we barely notched above 1930, I am closing my lowest strikes call spread and #Rolling into an iron condor at the next expiration. This is to exit now rather than risk a push up to 1950, making things hairy.
BTC $SPX Feb 29th (monthly) 1950/1975 call spreads for 5.70. Sold for 1.45 on Feb 11th.
STO $SPX March 4th 1975/2000 call spreads for 4.00.
STO $SPX March 4th 1800/1775 put spreads for 1.45 (double position size)
$SPX closing early
Closed $SPX iron condor Feb 26 2005/1995/1740/1730 for 0.30.
Originally had STO 10 days ago for 1.25.
I am starting to close positions early for good profit instead of trying to wring out every dime to expiration. That has gotten me in trouble in this volatile market so I will gladly take 76% max profit any time. This is working far better than trying to get to expiration date intact.
Bot to close March 4, 1675/1700 bull put spread @0.25, sold at 1.25
I sold the SPX 2125/2150 call spread for 1.25 today for April 29 expiration.
Closing SPX BeCS
I closed some of my Mar 11 SPX 1965/1980 at $4.95 Sold it for $1.25 last week…Ouch! Well now that I did this, you can be sure that the SPX will drop! 🙂
I will roll them once the Market decides to slow down this ride.
$SPX
$SPX Closed my Mar 4th 1980/2005 BeCS when the $SPX was at 1917. I won’t be around to manage any roll outs and decided to not try and be a hero by waiting for the pull back.
VIX moves unimpressive
The VIX move down has been fairly lackluster during this rally… we are not seeing the falling knife that often forms. This may be because there was no capitulation low last week. This may signal a bear market rally that won’t hold, or it could be a stealth rally that just keeps going up even though no one believes in it. Watching Robert’s resistance levels; I’m bullish for this week into OpEx, cautious after that.
SPX Call spread
STO Mar 4 2010/2020 BeCS @ 0.50
Dumped BePS
#SPXcampaign Sold to close $SPX March 11th 1895/1880 bear put spreads for 5.20. Bought for 8.00 on Friday. If we have more downside coming, my timing was definitely off.
Closed SPX BePS
Closed the SPX Mar 4th 1890/1880 for $4.10; bought it for $5.20 on Friday….So I lost $1.10
SPX put closed
#SPXcampaign Bought to close $SPX Feb 26th 1675/1650 put spreads for .20 Sold for 1.25 on Jan 25th. This is my last put credit spread, leaving me 100% short on the SPX strategy…. maybe just in time for a full market recovery? That’s the tough element in this strategy, but it is fully manageable if you follow the rules. My lowest short strike is the 1950 calls. I will look to roll out positions based on what Fib levels get cleared and if the VIX falls below 16.93. I believe we can rally even above 2000 before bears take back the reigns, but we need to be ready in case the correction has ended.
SPX
STO Mar 18 2030/2040 BeCS for 0.55
SPX puts closed
#SPXcampaign In pre-market, Bought to close $SPX March 11th 1600/1575 put spreads for .50. Sold for 1.25. Stop was set higher than usual to avoid longer exposure.
SPX call spread, March monthly
#SPXcampaign Sold to Open $SPX March 17th 2025/2050 call spreads for 1.50, with SPX at 1886.
Fibs Resistance at 1878-1880; 1886-1895;…
Fibs Resistance at 1878-1880; 1886-1895; 1925-28; 1935-1945 and 1998-2000.
Expiration 2/12/16
Starting slowly. Still listing! (-:
100% Max Profits
SVXY 30 puts
UVXY 29 Puts
SPXW 1775/1800 BUPS
SPXW 2040/2015 BECS
Closed Early
MCD Strangle 125/122 BECS // 110/115 BUPS Sold for $1.55, bought back for $.55
Options Expiration 2/12/16
#OptionsExpiration Quite a tough week, with a bullish feeling at the end… rally into next week or more downside ahead?
— Expiring with 100% of max profit:
NUGT 30 and 30.5 puts
UVXY 70 calls
UVXY 29 puts
SPX 1770/1745 put spreads
SPX 1790/1765 put spreads
SPX 1925/1950 call spreads
SPX 1990/2015 call spreads
— Assignment —
VLO 66 put, short stock position closed
#OptionsExpiration for 2/12 $NFLX 02/12/2016…
#OptionsExpiration for 2/12
$NFLX 02/12/2016 101.00 calls
$TSLA 02/12/2016 110.00 puts
$TWTR 02/12/2016 19.00 calls
$UVXY 02/12/2016 66.00 calls
$UVXY 02/12/2016 70.00 calls
$UVXY 02/12/2016 85.00 calls
$UVXY 02/12/2016 95.00 calls
$SPX 02/12/2016 1795/1770 put spreads
No assignments this week.
Have a great 3 day weekend!
SPX put DEBIT spread
#SPXcampaign Putting money where my bearish mouth is… half-sized position,
Bought to Open $SPX March 11th 1650/1625 put spreads for 1.40. Idea is to double money next week if we push back down toward 1800. This is in addition to Robert’s ITM put spread I bought below.
BTO SPX Mar 11 1895/1880…
BTO SPX Mar 11 1895/1880 BePS at $8.20…There is a K-Node at 1893-95 so I’ll place my stop at 1905.50 to get out if it breaks above the K-Node….The max Loss at that level should be less than $185 pp….
SPX spreads, closing early for profit.
Closed two spreads today for early, but nice profit.
SPX Feb 12 1870/1880 Call spread, STO yesterday for 0.50 and BTC today for 0.20.
SPX Feb 19 2020/2010/1700/1690 IC, STO for 1.45 and BTC today for 0.20.
I’ll take those and enjoy my Valentine’s weekend.
SPX spreads, I sold the following today:March 4, 2000/2025 for 0.55, March 11,2000/2025 call spread for 1.15 and April 1, 2035/2065 for 1.40
$SPX
$SPX Jeff, followed you in this trade. I agree there is a lot of overhead resistance. Sold to open Mar 4th 1980/2005 BeCS @ 1.25 when $SPX traded at 1856.40. If this gets in trouble then the rest of portfolio will be happy.
SPX call spread
#SPXcampaign, I guess I am 5 points more patient than @Ramie…
Sold to Open $SPX March 4th 1980/2005 call spreads for 1.25, with SPX at 1857.
Selling SPX call spreads
Sold $SPX Mar 4 1975/2000 call spread @ 1.40 credit. Short strike is well above resistance levels, and outside of 1 standard deviation (1963).
SPX calls
#SPXcampaign Sold to Open $SPX Feb 29th (monthlys) 1950/1975 call spreads for 1.45.
SPX trades
#SPXcampaign
Bought to close $SPX Feb 26th 2025/2050 call spreads for .20. Originally sold for 1.55.
Stopped out, March 4th 1700/1675 put spreads for 2.90. Originally sold for 1.25.
#ReverseRoll Sold to Open SPX March 4th 1960/1985 call spreads for 1.45.
Selling a call spread on a 2% down day, you ask? Yes! Call spreads are working without fail. I will definitely sell more with any bounce higher today and every day there’s a bounce, but currently I have stopped selling put spreads more than a few days out.
SPX one-day trade
#SPXcampaign Sold to Open $SPX Feb 12th 1770/1745 put spreads for 1.40. Expires tomorrow. Also still sitting on 1790/1765 spreads, which are a bit of a nail biter.
SPX iron condor
Didn’t have anything for Feb 26, so STO Feb 26 2005/1995/1740/1730 for 1.25
More SPX calls
#SPXcampaign, following @Ramie on this one, Sold to Open $SPX Feb 26th 1980/2005 call spreads for 1.35.
SPX call spread
Sold $SPX Feb 26 1980/2005 BeCS @ 1.35. Outside of 1 standard deviation (1965) and over 100 points out of the money.
#SPXCampaign
STO FEB 12 1940/1960 .40…
STO FEB 12 1940/1960 .40 credit
SPX calls sold
#SPXcampaign Sold to Open $SPX March 11th 2020/2045 call spreads for 1.25, with SPX at 1873.
SPX iron condor
Finished this week’s (Feb 12) iron condor that started yesterday. STO 1780/1770 BuPS 0.45
SPX same week calls
#SPXcampaign Sold to Open $SPX Feb 12th 1925/1950 call spreads for 1.40. Expires this Friday.
Trades while driving….
STO $UVXY March 18th 28 puts for 1.19
STO $DUST March 18th 5 puts for .65
BTC $ZSL Feb 19th 82.5 calls for .05. Sold pre-split for 1.275 effective price.
BTC $SPX Feb 26th 2015/2040 call spreads for .20. Sold for 1.20.
BTC $NOW Feb 19th 60 put for 13.80. Backing out 1 at a time, also will keep some and sell calls.
BTC $KOLD Feb 19th 135 call for 25.90. Sold for 18.10 on Nov 19th. Backing out of Feb positions; will be selling new premium at a later time, but keeping margin in reserve for now.
VIX signal fired
My VIX indicator fired a signal today when we rose 25% above Thursday’s close (above 27.30). Next signal level is 32.00. These signals continue to mean more volatility ahead until we see a huge capitulation VIX spike (i.e. dump in the market), or lower and lower days on the VIX. A key level to the downside is 19.20, which we almost touched last week but is acting like support now.
Options Bistro 