#SPXcampaign Bought to Close $SPX March 4th 1700/1675 put spreads for 2.90. Sold last week for 1.25.
This happened last week too; stopped out on there 5-week spreads and then make up the loss with several same-week spreads. Not an ideal situation. so I have to reconsider selling the 5-week put spreads at all. However, all call spreads work.
$SPX Sold to Open $SPX March 11th 2000/2025 call spreads for 1.30. Not normal for me to sell calls on such a down day, but every call spread is working and put spreads can be toxic. If this one gets threatened it will mean a significant turnaround for the whole market.
#SPXcampaign Sold to Open $SPX March 11th 1600/1575 put spreads for 1.25, with SPX at 1843. Interesting, the March 11th SPX put chain skips most 5-point strikes below 1600. I don’t see that in other weeks.
#SPXcampaign Bought to close $SPX Feb 26th 2025/2050 call spreads for .20. Sold for 1.25.
This appears to be the biggest UP-day for the VIX in the last week. Up 11-12% with no immediate pullback. Either a signal of rougher waters ahead, or if it pulls back dramatically today could be a sign of relief rally.
#SPXcampaign In pre-market, Bought to Close $SPX Feb 18th 2010/2035 call spreads for .20. Sold for 1.25. In pre-market I have two SPX put spreads that are threatened, but still below my stops.
#OptionsExpiration Rough week with DATA earnings trade going south. This will be a tougher one to manage than FB or VLO as the company is newer and has an uncertain future.
Expiring with 100% of max profit:
$CMI 81.5 puts
$DATA 100 calls
$SPX 1980/2005 call spreads
$UVXY 23, 27 puts
$UVXY 27/25 put spread
$UVXY 55 calls
$VLO 73 call
#Assignment
$DATA 62 puts, long stock assigned, cost basis 60.80
$VLO 63 & 65 puts, covering most of my short stock position, cost basis over 70.00
Expiring Worthless:
$SPX 1675/1650 put debit spread – bought a couple weeks ago, but the down moves did not come soon enough, so never got a profit to take.
#spxcampaign STO SPX MAR2 16 (3/11/2016) 1670/1645 BuPS @1.40
#SPXcampaign Sold to Open March 4th 1680/1655 put spreads for 1.25.
#SPXcampaign Sold to Open $SPX Feb 12th 1790/1765 put spreads for 1.35. Expire next Friday.
Going out almost 2 standard deviations, and 225 points down.
Sold $SPX Mar 11 1665/1640 BuPS @ 1.30
$SPX Closed my Feb 12th 2030/2050 BeCS @ 0.05 on a GTC order.
#SPXcampaign Bought to close $SPX Feb 5th 1850/1825 put spreads for .25. Sold for 1.50 this morning.
#SPXcampaign Sold to Open $SPX Feb 5th 1850/1825 put spreads for 1.50. After being stopped on the 1860/1835 spread yesterday, replacing with a slightly lower one. Remember we have nonfarm payrolls on Friday morning
STO SPX Feb1 1960/1965 for .35 cr.
..where you get stopped at the bottom when SPX is down 1.5%, then it rips back up to end positive before I could throw on any rolls. Oh well. I’m sure more chances are coming. As for the call side, just Sold to Open $SPX Feb 12th 1990/2015 call spreads for 1.25. #SPXcampaign
STO 3/18 SPX 2020/2035 BeCS $1.60 crd. and 1735/1720 BuPS at $1.85 crd. 44 DTE. small 1 lot trade…
POS = 76.3% R/R = 3.23 Max Loss $1,145 Max win = $355
I don’t plan to get either Max Loss or Max Win.
If I cut my loss at 1/2 of Max then the POS = 570 / 1500 = 38% which comes to show that the Probability of Success is based on holding the position to the end and any exit to avoid the large loss reduces the POS.
However, using the 50% loss and taking only 60% of Max profit improves the R/R = 2.7
#SPXcampaign Bought to close $SPX Feb 12th 1800/1775 put spreads for 2.90. Sold for 1.25 on Tuesday.
#SPXcampaign Bought to Close $SPX Feb 18th 2025/2050 call spreads for .20. Originally sold for 1.40.
#SPXcampaign Bought to close $SPX Feb 5th 1860/1835 put spreads for 2.45. My guess is this would have made it, but it went over my 3.00 stop yesterday and I let it go because we were extended for the day and I felt we would get a bounce around 1900 level. We did, but today’s action is not promising. This was sold as part of a same-week iron condor on Monday for 2.65… so for the full trade I’m getting out with a small profit. Thanks Addy, for the idea on Monday.
#SPXcampaign Sold to Open $SPX March 4th 2025/2050 call spreads for 1.55.
#SPXcampaign Bought to close $SPX Feb 12th 2015/2040 call spreads for .20. Originally sold for 1.25.
#SPXcampaign Bought to close $SPX Feb 1990/2015 call spreads for .15. Sold for 1.25. Closing one of two call spreads; will let the 1980/2005 expire Friday.
SPX, I sold the March 4,1675/ 1700 put spread for $1.20. Following Jeff.
#SPXcampaign Sold to Open $SPX March 4th 1700/1675 put spreads for 1.25. First sale in this expiration.
#SPXcampaign Sold to Open $SPX Feb 12th 1800/1775 put spreads for 1.25. Expire next week.
#SPXcampaign Sold to Open $SPX Feb 5th 1860/1835 puts for 1.25. Adding a 1980/2005 call side on the next swing up. Following Addy on this trade. This can get into trouble fast if we have strong moves this week, so have to watch closely.
STO SPX FEB1 16 (2/5/2016) 1860/1835/1980/2005 IC @2.60
STO Feb 12 SPX 2020/2005 BeCS and 1860/1845 BuPS at $2.80
STO Feb 26 SPX 2025/2040 BeCS and 1830/1815 BuPS for $3.15 Crd.
SPX IC 1960/1965 1840/1835 expired worthless
All at full profit
$AAPL 92 Put
$AAPL 107 Call (Covered)
$SVXY 35.5 Put
$EA 63 Put (Earnings Play)
$FB 84/$90 BUPS
$SPXW 1985/1960 BECS
$SPXW 1805/1830 BUPS
Bought Back for .05
$SPXW 2/5 2050/2025 BECS
Taking smaller positions. Feeling a little better. Thanks to everyone here.
#OptionsExpiration for Jan 29
All of the following expired. No assignments this week.
$AMZN 01/29/2016 505 puts
$AMZN 01/29/2016 710 calls (covered)
$AMZN 01/29/2016 725 calls (covered)
$CMG 01/29/2016 400 puts
$DUST 01/29/2016 20 calls (covered)
$NUGT 01/29/2016 40 calls
$SPX 01/29/2016 1955/1980 call spreads
$TZA 01/29/2016 75 calls
Have a great weekend everyone.
Expiring with max profit:
$AMZN 515/710 strangles
$DUST 20 calls
$NUGT 35 calls
$FB 89/84 put spreads
$SPX 1955/1980 call spreads
$UVXY 60 calls
$VLO 64 puts
$VLO 74 call
#Assignments
$FB 102 calls, going short stock, cost basis 105 (did not play that one very well)
$VLO 67 puts, part of short stock position being covered
Have a great weekend everyone… I’ll be trading from Los Angeles next week!
$SPX Closed SPX Feb 12th 1625/1585 BuPS @ 0.10 Opened @ 1.25.
#SPXcampaign Sold to Open $SPX Feb 26th 2025/2050 call spreads for 1.25
#SPXcampaign Bought to close $SPX Feb 5th 1750/1725 put spreads for .20. Sold on Monday for 1.50.
#SPXcampaign I wanted to let this expire, but I was messing around with an order earlier today and forgot to take it off. So..
Bought to close $SPX Jan 29th 1830/1805 put spreads for .40. Sold yesterday for 1.30.
Completing IC for this Friday. STO 1940/1950 for 0.40. Already had 1775/1765 put spread. A little late on this, but looks like it will work.
STO SPX JAN5 16 (expiring this Friday) 1815/1790 BuPS @1.10
#SPXcampaign Sold to Open $SPX Jan 29th 1830/1805 put spreads for 1.30. Expire this Friday. Paired with 1955/1980 call spreads sold yesterday.
#SPXcampaign BTC $SPX Feb 18th 1625/1600 put spreads for .25. Originally sold for 1.25.
#SPXcampaign Bought to close $SPX Feb 12th 1650/1625 put spreads for .30. Sold for 1.30. Closed a bit earlier than usual to keep put side manageable.
STO SPX JAN5 16 (1/29/2016) IC 1960/1985/1830/1805 @2.30
STO SPX 1840/1835 this week .60 makes an IC 1960/1965 130.00 cr
#SPXcampaign Sold to Open $SPX Jan 29th 1955/1980 call spreads for 1.45. These expire Friday, or I will roll if they get threatened. I do not believe this rally will get past 1920 before retracing or collapsing.
#SPXcampaign Sold to Open $SPX Feb 26th 2015/2040 call spreads for 1.40.
#SPXcampaign Sold to Open $SPX Feb 5th 1750/1725 put spreads for 1.50.
#SPXcampaign Sold to Open $SPX Feb 26th 1675/1650 put spreads for 1.25. This is really my first “normal” put sale in January, where I am selling on a typical down day rather than a violent down day, 5 weeks out.
Expiring:
$AMZN 01/22/2016 740.00 calls (covered)
$AMZN 01/22/2016 540.00 puts
$NFLX 01/22/2016 115.00 calls
$NFLX 01/22/2016 120.00 calls
$NUGT 01/22/2016 45.00 calls
$SPX 01/22/2016 1745/1720 put spreads
$UA 01/22/2016 70.00 puts
$UVXY 01/22/2016 80.00 calls
$UVXY 01/22/2016 97.00 calls
No assignments this week.
Have a great weekend everyone. I hope you avoid the brunt of the storms on the east coast.
#OptionsExpiration
Expiring with max profit…
$ISRG 480/620 strangles
$UVXY 20 & 30 puts
$UVXY 70, 75, 80 calls
$VLO 74 call and 67 (covered) puts
$SPX 1995/2020 call spreads
$SPX 1750/1725 put spreads
No assignments – also, after hours fill on UVXY Feb 12th 29 put for .75
Have a great weekend everyone!
STO Jan5 SPX 1960/1965 .75
#SPXcampaign Bought to Close $SPX Feb 5th 1615/1790 put spreads for .15. Sold on Wednesday for 1.25.
#SPXcampaign, since I just closed the Feb 12th 2070 spread this morning, rolling it down with a new position.
Sold to Open $SPX Feb 12th 2015/2040 call spreads for 1.25, with SPX at 1903.
#SPXcampaign BTC $SPX Feb 12th 2070/2095 call spreads for .20. Could have closed for less but was going to let expire. Now I just want it out of the way with profit.
#SPXcampaign Sold to Open $SPX Feb 5th 1990/2015 call spreads for 1.25. In this market I have been making many round trips in each expiration, as the wild swings allow entry then a cheap exit a few days (or hours) later.
#SPXcampaign Bought to open $SPX Feb 5th 1675/1650 put spreads for 1.10. This is for our possible trip below 1800 tomorrow or next week. This spread should at least be a double if we go there. If not, it is a smaller loss than all of the credit spreads I have been selling.
#SPXcampaign STO $SPX Feb 18th 2010/2035 call spreads for 1.25. Will wait to sell more if we rally a lot higher today.
Closed the Jan 29th 2020/2030 bear call spread @ 0.05 when a good till cancel order filled. Originally sold for 0.80 on 1/14
#SPXcampaign Sold to open $SPX Feb 5th 1615/1590 put spreads for 1.25.
As we hit 3.5% down on the day, that will be the final spread I try. We will need some strong bounce days in the mix for these put spreads to survive. Today’s drop is the biggest of the year and VIX just hit its highest level since Sept 1st.
#SPXcampaign Bought to close $SPX Jan 29th 2000/2025 call spreads for .20. Sold last Thursday for 1.35.
Hard to pass this one up. Sold $SPX Feb 19 1600/1575 BuPS @ 1.30. Strike is 2 standard deviations away.
Added another 2 standard deviation put spread for this week:
Sold $SPX Jan 22 1745/1720 BuPS @ 1.30.
$SPX Closed my Feb 2nd 1625/1885 BuPS @2.10, a 0.85 loss. Time to sit on my hands again. I considered rolling down and out but no bottom yet and I will not be around for Feb so just going to the sidelines here.
#SPXcampaign Sold to Open $SPX Jan 22nd 1750/1725 put spreads for 1.30. These are added to the ones I sold last week, so this is now a double position. Expires this Friday, unless we drop 100 points more.
$SPX I put in a Feb 8th 1625/1585 BuPS for 1.35 just after the low but wasn’t filled. I adjusted the premium up to 1.25 but the bounce was already in. Alas, a few minutes late on both entries. I was filled though after the close at 1.25. So I guess I wasn’t the only one late to the party . Have a great evening all.
#SPXcampaign STO $SPX Feb 18th 1625/1600 put spreads for 1.25.
#SPXcampaign BTC $SPX Feb 12th 2060/2085 call spreads for .20. Sold for 1.25 on Jan 11.
$SPX Sold a 2030/2050 BeCS for 0.75. Stepping lightly. $SPX was at 1898. Will roll it up if it doubles in premium.
#SPXcampaign STO $SPX Feb 18th 2020/2045 call spreads for 1.45.
#SPXcampaign STO $SPX Feb 18th 2025/2050 call spreads for 1.40.
STO This Fri SPX 1950/1955 .70
#SPXcampaign STO $SPX Jan 29th 1700/1675 put spreads for 1.25. Sold three call spreads yesterday, and three put spreads today. I can do a whole month’s trading in two days in this market.
#SPXcampaign Selling put spreads to offset call spreads sold yesterday.
STO $SPX Jan 22nd 1750/1725 puts spreads for 1.30. These expire next Friday.
The parentheses are my attempt to be quiet about selling a put spread, so maybe the market won’t notice and let this one slip by. But taking an advantage of the extreme move.
#SPXcampaign STO $SPX Feb 12th 1650/1625 put spreads for 1.30.
Although I thought we might remain calmer until next week, our trip down to October 2014 lows (1820) is resuming now. I don’t think we can look for any meaningful bounce until at least that level.
Options Bistro 