STO $SPX Dec2 2005/1990 1.15
Category Archives: SPX Campaign
SPX roll
#SPXcampaign STO $SPX Dec 24th 1990/1965 put spreads for 2.00. This is a roll from stopped spreads on 11/6. Does not cost much in margin since I already have extra call spreads on this expiry from an earlier roll.
STO Dec 12 SPX 2020/1995…
STO Dec 12 SPX 2020/1995 BuPS at $1.30; this completes the IC with the position I placed yesterday.
SPX puts closed
#SPXcampaign BTC $SPX Dec 17th 1890/1865 put spreads for .20. Sold as a roll on Nov 13th for 2.00.
SPX put spread
#SPXcampaign STO $SPX Dec 31st 1960/1935 put spreads for 1.30, with SPX at 2101. This is my first put spread of the week, having missed a fill on Monday’s weakness. Action looks bullish; I believe we will grind sideways to higher into year end. I doubt we’ll get a strong push higher, but I have kept all call spreads above 2130 to be safe.
STO Dec 12 SPX 2140/2165…
STO Dec 12 SPX 2140/2165 for $1.35 Credit.
All cylinders
Well, I did sell a same-week condor yesterday, but missed a fill on a Dec 31st put spread… thought I’d get a chance this morning, but no beans… Indices off and running… sell some call spreads if you need them!
STO SPX 2030/2020 This Fri…
STO SPX 2030/2020 This Fri .75 to complete IC
STO SPX Dec1 (this Fri) 2120/2130 1.10
Now will add put side
Short options, Margin, and retirement accounts
I got this question over the weekend:
Question:
What type of account are you trading in when you short naked? Regular margin/Portfolio margin account? Trying to find out what the more experienced folks setup when the run the types of strategies you use and not get killed on the tax side, but have all the strategies open to me unlike an IRA style acct.
Answer:
I use two different account types. My main account is an LLC account with portfolio margin… it is set up as a business partnership with family members. There are no restrictions on the types of trades. I also trade with 401K accounts… these are retirement accounts sponsored by the LLC for the members of the LLC (who are technically employees). Each member, including myself, rolled over portions of IRA accounts into these 401K’s. At Interactive Brokers, 401K accounts do not have restrictions against naked options. They are Reg-T accounts, so margin requirements for shorts are higher than portfolio margin. I typically sell naked options in my LLC account and stick to spreads in the 401K accounts (almost exclusively the #SPXcampaign, which is tailor made for retirement accounts).
For the short strategies such as #Earnings and #ContangoETFs, you will need to use spreads if you want to trade in an IRA. I usually don’t use spreads, but some other contributors on OptionsBistro do, such as @fuzzballl, who uses a mix of naked and spreads.
Let me know if I can help further!
SPX iron condor bonus/roll
#SPXcampaign STO $SPX Dec 4th 2015/2035/2125/2145 iron condors for 2.60. Expiring this Friday. Slightly risky due to data coming out this week, but looking for consolidation phase to continue. Will try to be out of this before Friday’s payroll numbers.
SPX spread closed
#SPXcampaign BTC $SPX Dec 11th 2175/2200 call spreads for .10. Sold for 1.35 on Oct 23.
#SPXcampaign STO $SPX JAN4 16…
#SPXcampaign STO $SPX JAN4 16 (1/22/2016) 1875/1850 BuPS @1.45
SPX call spread
#SPXcampaign STO $SPX Dec 31st 2175/2200 call spreads for 1.50.
Good morning…
Heavy week of data and reports, including nonfarm payroll on Friday. For #SPXcampaign this week I will be selling spreads in the Dec 31st expiration.
Expirations…
#OptionsExpiration
Expiring with max profit:
$SPX 1920/1895 put spreads
$SPX 1965/1940 put spreads
$VLO 65 & 66 puts
Assignment:
$NXPI 83 & 84 covered calls, stock called away
Have a great weekend everyone!
#SPXcampaign SPX NOV4 15 (Today)…
#SPXcampaign SPX NOV4 15 (Today) 2110/2130 BeCS expired worthless
#SPXcampaign SPX NOV4 15 (Today)…
#SPXcampaign SPX NOV4 15 (Today) 2020/2045 BuPS expired worthless
SPX will expire today IC…
SPX will expire today IC 2025/2015 2115/2125
SPX Weekly spread closed
BTC $SPX Nov27 2100/2105 at 0.05. Probably go worthless, ha, but I’m going to enjoy the rest of the holiday by not sitting in front of the computer. Happy trading all. Jeff thanks for another successful blog week! PS…was the pie great?
SPX spreads closing
#SPXcampaign – Not much movement in the index, but theta decay is moving nicely…
BTC $SPX Dec 11th 2165/2190 call spreads for .20. Sold for 1.25 on Nov 10th.
BTC $SPX Dec 4th 1950/1925 put spreads for .20. Sold for 1.25 on Nov 3rd.
SPX spread close
#SPXCampaign BTC $SPX Nov 30th 2145/2170 call spreads for .05. Closed for margin. Sold as part of an iron condor for 2.00 on Nov 9th.
SPX iron condor
#SPXcampaign Today I am looking to complete my full position for the Dec 24th expiry, which means I need a spread on each side. Starting with: STO $SPX Dec 24th 2165/2190 call spreads for 1.30.
Then, a few seconds later on a spike down: STO $SPX Dec 24th 1950/1925 put spreads for 1.40.
Done!
This is today’s chart showing…
This is today’s chart showing the Active Fib-Nodes and LOPs for this week. According to what the chart is showing the SPX should at least reach the XOP next week
SPX call spread
#SPXcampaign STO $SPX Dec 24th 2170/2195 call spreads for 1.25, with SPX at 2089. I now have sold one spread in puts and one in calls for the week… need one more of each.
So much for the SPX…
So much for the SPX Confluence at 2077; I just got stopped out at 2072.30; so it didn’t work; maybe I placed the stop too close. Learning experience.
$SPX
X
Turkey trade…STO $SPX Nov 27 2100/2105 bear call spread @ .55
Well, I was not going…
Well, I was not going to trade until after the Thanksgiving weekend, but I couldn’t resist the opportunity today. So,
STO Dec 24th SPX 2000/1985 BuPS at $2.20
SPX Dec 17th put spread
#SPXcampaign I only sold one put spread last week so this is the second half of my position for the Dec 17th expiry: STO $SPX Dec 17th 1945/1920 put spreads for 1.35. I got lucky on this one and was filled at the bottom of the day.
SPX
STO SPX Nov4 (this Fri) 2115/2125 .75 to make IC. sold early
$SPX Campaign
BTC Nov 30th 1930/1940 BuPS @ 0.05 on GTC order. Out a bit early and takes the risk off for the remaining nickel.
SPX campaign spread
#SPXcampaign Sold $SPX Dec 24th 1935/1910 put spreads for 1.35. First spreads for this expiry… I am not waiting for a strong down move due to the short week that is likely to a quiet trickle up or sideways. Will look to sell call spread as well.
#SPXCampaign
$SPX STO Dec 11th 2150/2160 BeCS @ 0.70. Filled at the open while I was editing to a better value. My thinking is that the market is at short term resistance near the all time high and though there might be some year end performance chasing, there will also be profit taking. Other opinions welcome.
Good morning, 11/23/15
Probably a pretty quiet holiday week, which is great for theta decay and one and a half fewer days before weekly expiration this Friday, when markets close early after a full day off. I will be sell Dec 24th credit spreads in the #SPXcampaign. The $GME #Earnings trade looks to be in $2 worth of trouble to start the week… I’ve actually been here before with GME… it usually is a quick trade but one time I took the stock and waited a few weeks with covered calls before turning a good profit. It may take its time to recover but it always has. Have a great week, everyone!
$KOLD – the art of…
$KOLD – the art of exiting an illiquid option position that just went in the money –
So I’m trying to exit my short call position @ 136 on KOLD but the bid / ask is 3 points apart. Rather than let the market maker take his pound of flesh, I’m going to buy the stock, either on a dip, or at the close and let them call it away.
I’ll still make money due to the large initial premium I got when I sold this.
SPX spread close
#SPXcampaign BTC $SPX Nov 30th 1940/1915 put spreads for .15. Sold as part of a 2.00 iron condor roll on Nov 9th.
Good morning, Expiration Friday 11/20…
Bulls are in charge… $VIX should drop below 16.05 today, which was the level from which our last signal fired (11/11 close, from which we spiked 25% last Friday). This is an indication that the 11/13 warning is more likely a false alarm. Given this, I think we can lower the threat level. Next levels to watch on $SPX would be the most recent peak around 2015, then all-time highs at 2034. A break through either could mean the bulls drive us into year-end. Meantime, #Earnings plays in $FL, $ZOES, and $WSM look solid, and $SPLK iron fly will probably maintain at least a small profit.
SPX
BTC SPX Nov4 2105/2110 2.50 sold for 1.00 still have put side
SPX put spread
#SPXcampaign STO $SPX Dec 17th 1925/1900 put spreads for 1.30. Thursday is a bit late to sell the first put spread, but that’s what you get with a rip-roaring bullish week.
Wed’s Chart….sorry I couldn’t post…
Wed’s Chart….sorry I couldn’t post it last night.
Good morning….
Futures were up, but now negative, so perhaps we’ve reached a consolidation area… but be leery of strong moves in either direction as action has been bullish, but a downside warning is still in effect from Friday. (In my backtesting, the correction low of $SPX can be anywhere between 1 day and 1 month after the first warning). I will look to sell Dec 17th put spreads near the open. Meanwhile, we can search for earnings trades in $ADSK, $FL, $GPS, $INTU, $ROST, $SPLK, $WDAY, $WSM. Trade smart!
SPX puts close
#SPXcampaign BTC $SPX Nov 20th 2010/1985 put spreads for .10. This was trading over 7.00 last Friday. Sold for 2.15 on Nov 9th.
Would normally allow these to expire, but with monthly expiration and Friday morning settlement, I won’t leave the risk out there.
SPX call spread
#SPXcampaign Selling another call spread as part of the rolls I need from last week’s stops. This is pretty far above all-time highs.
STO $SPX Dec 24th 2180/2205 call spreads for 1.30.
#SPXcampaign BTC SPX NOV4 15…
#SPXcampaign BTC SPX NOV4 15 1915/1890 PUT @.20
#SPXcampaign BTC $SPX NOV5 15…
#SPXcampaign BTC $SPX NOV5 15 1905/1880 BuPS @.20
#SPXcampaign STO $SPX DEC2 15…
#SPXcampaign STO $SPX DEC2 15 2145/2170 CALL @1.55 CBOE, thank you Mort, Robert and Paul
for letting me know the resistance levels
SPX closing spread at 80%
#SPXcampaign
BTC $SPX Nov 27th 1915/1890 put spreads for .20. Sold for 1.25 on Oct 26th.
Good morning…
Up and down yesterday, up today? Check out the great chart Robert posted (prvtrader) last night… we are at resistance on a downtrend line from beginning of November… pressed against it yesterday then failed; we will press it again this morning. I’m picking and choosing $SPX spreads wisely, playing the whipsaw action. I remain watchful for more downside since we are under a Warning from Friday.
It looks like the Bulls…
It looks like the Bulls got a little tired after yesterday’s and this mornings rally…If price moves down tomorrow the Stochastic will give a signal to go short the SPX.
SPX put roll
#SPXcampaign #Rolling STO $SPX Nov 27th 1965/1940 put spreads for 1.30, as a partial roll of spreads stopped out last week.
STO Dec 4th 2140/2150 BeCS @ 0.45 when the S&P was trading at 2059. Another cautious trade. 2140 Delta @ .06.
$SPX STO Nov 31st 1930/1940 BuPS @ 0.40. cautious starter position. This was filled this morning when the S$P was trading @ 2054
SPX call spread #2
#SPXcampaign STO $SPX Dec 17th 2165/2190 call spreads for 1.25. Second call spread for the week, 20 points higher than yesterday. I won’t worry about defending these unless we break through all-time high at 2134.
$SPX #spxcampaign STO Dec 19…
$SPX #spxcampaign
STO Dec 19 2150/2160 BeCS for 1.00
These are well past the highs and delta less than 0.1.
Got these earlier this morning, just now able to post. Could have waited and gotten a more, but this works.
STO SPX DEC2 15 2145/2170…
STO $SPX DEC2 15 2145/2170 BeCS (12/11/2015) @1.35
Good morning…
Another day rocketing higher? Looks that way. I have been backtesting the $VIX warning signals, and I have not found a downside warning that triggers without a subsequent correction in the $SPX (I have tested 1999 thru 2011 thus far). Sometimes, the correction may come weeks later, or sometimes it may be only a decent pullback rather than “correction.” But nonetheless, I am staying on watch for more downside in the days and weeks to come after Friday’s Warning.
Signs that we should reset the clock would be either a new $VIX low (below 12.80) or a new $SPX high (2134). Also, a firm break of the recent SPX high (2116) or a close below the most recent base for the VIX warning (Wednesday’s close of 16.05) I believe would mean relative safety. This is a new indicator and our first time working with it in real-time. So every day is an education.
Monthly expiration is this Friday, and it could be playing a role in this rally. Seeing what happens next week will be interesting.
SPX pre-market call spread
#SPXcampaign In pre-market (4:34am ET) STO $SPX Dec 4th 2130/2155 call spreads for 1.20. This is actually my second regular call spread for this expiry, given that I only sold half my normal amount a couple weeks ago. Staying at or above all-time highs, and above the most recent swing high.
This is what I saw…
This is what I saw today on the SPX; I’ll try to post a chart each day after the close. The idea is to keep a track record of what I see and how I’m trading it.
$SPX call spread
#SPXCampaign Sold Dec 11 2140/2165 BeCS @ 1.20. Short strike has a delta of 07 and is outside 1 standard deviation (2135), and above the all-time high.
$SPX spread #spxcampaign STO Dec…
$SPX spread #spxcampaign
STO Dec 11 2130/2140 BeCS at 0.80.
My account not as large as some, so have to take these in smaller bites.
STO Dec 11 SPX 1915/1900…
STO Dec 11 SPX 1915/1900 at $1.50, will get out if price goes below 2018.
SPX call spread
#SPXcampaign STO Dec 17th $SPX 2145/2170 call spreads for 1.25
Good morning..
Quite a Friday the 13th we had…. we got our $VIX warning signal, and it looked like it could be a repeat of Aug 20-24… however, a significantly more minor one; $SPX was only down 1.12% for the day. Then the Paris attacks instilled fear, but because they happened Friday, with the weekend to digest, it was anyone’s guess what Monday would look like.
For now, we STILL have an active warning from Friday, so be on the lookout. VIX would need to fall at least back below Wednesday’s close of 16.05 before I would say we can ease off the brakes. SPX vol is high so selling new spreads will get you fairly far OTM; just proceed cautiously. Call spreads should be above all-time high of 2135. I will look to sell my normal 5-week out spreads for Dec 17th before I consider putting rolls on from spreads that were stopped last week.
Posting another chart from August….
Posting another chart from August. 
I lost money during that move, because I didn’t pay attention to my indicators. I was trading in “Automatic” since the market had been so kind to me during the consolidation. I should have made a bunch, but missed all the signals.
Options Expiration 11/13/15
A light week this week:
Expiring
$SPX 11/13/2015 2120/2145 call spreads
$SPX 11/13/2015 2140/2165 call spreads
$SVXY 11/13/2015 65 calls (covered)
Have a great weekend everyone.
Options Expiration 11/13/15
Max profit:
$SPX 2110/2120 call spread
Options Expiration 11/13/15
Followers who do not have Posting privileges can respond to the Post with their expirations
Expiring with 100% of max profit:
$NXPI 75 puts
$NXPI 85 covered call
$UVXY 25 put
$VLO 67 & 68 covered puts
$SPX 2125/2145 call spreads
$SPX 2150/2175 call spreads
No assignments. Thanks everyone, have a great weekend!
If you’d like Posting privileges, please email me or reply here and I will invite you.
I posted the wrong price…
I posted the wrong price on those 1800 puts it was .65 cents. Still 21,000 traded.
SPX trade didn’t fill but…
SPX trade didn’t fill but there may be other opportunities next week. They traded a boatload of puts at the 1800 strike for .80 cents or so.
…and another SPX stop
#SPXcampaign Bought to close $SPX Nov 27th 1950/1925 put spreads for 2.75. Sold for 1.70 on Oct 23rd (part of a roll).
$SPX new call spread
#SPXcampaign Don’t normally sell call spreads on a day like this, but I still needed another for Dec 11th, and I’m still able to get one right at all-time highs. If next week is more down, it will be fine. If we rebound, the relief from put spreads will make up for any pain on this one. It is my only call spread below 2160.
Sold to open $SPX Dec 11th 2130/2155 call spreads for 1.25.
SPX trade in case the market gets ugly this afternoon
I’m trying a 1860/1870 SPX put credit spread for next week for .45 cents in case the market gets super ugly into the close. This is currently above market.
$SPX stopping Dec 11th spread
#SPXcampaign Bought to close Dec 11th 1920/1895 put spreads for 3.20. Sold for 1.25 on Wednesday.
With warning signal in effect and continuing downside, I am closing non-SPX positions as well, to keep margin clear for a possible Monday crash. I don’t really expect it, but the end of this week is looking like a minor version of August 20-24.
$VIX steadily rising, $SPX steadily…
$VIX steadily rising, $SPX steadily decreasing for last two hours. We are getting a retest of the 20.05 signal level. Take caution as risk remains high for Monday and next week. Need a very strong end-of-day rally to say otherwise.
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