#SPXcampaign Bought to close $SPX July 8th 2175/2200 call spreads for .10. Sold for 1.65 on June 6th. Closed for margin purposes.
Category Archives: SPX Campaign
SPX Iron Condor with a Twist
STO Jul 20 SPX 2090/2115 BeCS for 3.25
STO Jul 20 SPX 1930/1905 BuPS for $3.10
BTO Jul 20 SPX 2040/2045 BuCS for $2.45
SPX calls sold
#SPXcampaign Sold to Open $SPX July 22nd 2115/2140 call spreads for 1.45, with SPX at 2023.
SPX puts closed
#SPXcampaign Bought to close $SPX July 6th 1850/1825 puts spreads for .20. Sold as part of a condor-roll on 6/14 for 2.30.
Put out with profits!!!
SPX that is…puts out at the open today.
Yesterday STO Jul 1 1910/1900 put spread for 0.70, BTC at the open today for 0.15.
Yesterday STO Jul 1 1930/1920 put spread for 0.80, BTC at the open today for 0.30.
Total of 70% of max profit in less than a day. I love it!
SPX puts stopped
#SPXcampaign Bought to close $SPX June 30th 1970/1925 put spreads for 4.75. Sold for 2.10 on June 17th. This one was too close for comfort to leave overnight. I am planning on rolling on the next significant move in either direction.
SPX call spread closed in…
SPX call spread closed in one day for nice profit.
STO this morning Jul 1 2075/2085 call spread for 0.85 credit, now closed at my predetermined limit price of 0.20 in just a few hours. I like that profit action, but the next question for SPX is how low can she go!
$SPX sold July 8, 1900/1890…
$SPX sold July 8, 1900/1890 put spread for 1.05
SPX calls closed
#SPXcampaign Bought to close $SPX July 8th 2160/2185 call spreads for .10. Sold for 1.30 on June 16th.
SPX roll sold
#SPXcampaign Sold to Open $SPX July 22nd 1775/1800/2110/2135 for 2.70, 1.5x position size. This is a roll from the July 14th spread stopped earlier.
I now have all stopped spreads rolled, so all premium lost has been replaced with further out spreads.
Joining SPX party…
Bought to Close SPX SEP 16 2016 2250/2275 Bear call spreads @ .25 (sold for 1.60)
SPX roll sold
#SPXcampaign Sold to open $SPX July 29th 1675/1700/2125/2150 iron condors for 2.35, 1.5x position size. Rolled from July 22nd put spread stopped earlier.
SPX puts stopped
#SPXcampaign Bought to close $SPX July 14th 1910/1885 put spreads for 4.00. Sold for 1.40 on June 13th.
SPX puts stopped
#SPXcampaign Bought to close $SPX July 22nd 1875/1850 put spreads for 3.40. Sold on Friday for 1.50.
$SPY $UVXY $SPX I’m taking…
$SPY $UVXY $SPX I’m taking the opportunity to take profits today by closing the long call side of 3 SPY spreads, dated July 8 and July 15, 208,214,215 strikes, closed the call side of a July 8 2155/2170 call spread, and closed a UVXY 11 put sold June 20 for 1.56 and a July 8, 30 call sold Friday for 1.18. I paid 42 for both today coincidentally. I looked at what was left in these trades, duration and margin. This method, closing early, has been working for me in 2016.
SPX roll sold
#SPXcampaign Sold to Open $SPX July 8th 2075/2100 call spreads for 3.00. Roll from puts I just stopped. I am comfortable with this even if we are at a bottom, as the call roll up will not be too difficult.
Put spread stopped
#SPXcampaign Stair-stepping lower… unable to get out on the bounces so now I’m past my normal stop level on a few spreads. Working on rolls, likely in calls or strangles.
Bought to close $SPX July 1st 1950/1925 put spreads for 4.35. Sold for 1.25 on May 31st.
SPX closed call spread
#SPXcampaign Closed July 17 2175/2200 bear call spread at 0.15 (0.20 rule) sold June 13 for 2.15, 17 DTE. Tried this trade at 15 delta, a little closer than SPXcampaign rules, worked this time on account of BREXIT vote. I’ll try another when index normalizes!?
Jeff – great chart.
Bistro SPXcampaign position chart
My positions in the #SPXcampaign are now visible in the chart linked in the right hand column; just click on the image to open it full screen.
You can use your browser’s zoom function on the chart since the print is small. I have included a key to all of the info included in each spread. I will add each day’s spreads in text form at right before I’m able to update the chart.
Please feel free to ask any questions; I know it may be confusing! I will be providing updated webinars and more info soon.
Options Expiration
Expired
$UVXY 9.5 Put
$UVXY 22 Call (covered)
$UVXY 20 Call (Covered)
$NUGT 130 Call
$NUGT 140 Call
$RDSA 52.5 Call (Covered)
$SVXY 39 Put
$SPX 2160/2135 BECS
$SPX 2175/2150 BECS
$SPX 2140/2130 BECS
$SPX 1950/1975 BUPS
Total Loss
$SPX 2115/2100/2100/2085 Straddle Worth doing, Loss contained by hedge
Assigned
$NUGT @ 98 Will cover on Monday
$MGM @24.5 I am willing to hold stock
Called Away
$ETE @13 Basis 12.35 Was a covered call
Fasten seat belts for next week as Europe “melts” away?
Options Expiration 6/24/16
#OptionsExpiration Nail-biter of a close with short 2040’s, will sell a roll next week. With more VIX Indicator signals firing today, further drops in the market are very likely.
— Expiring —
NUGT 50 puts
SPX 2135/2160 call spreads
SPX 2025/2000 put spreads
SPX 2020/1995 put spreads
UVXY 22 call
UVXY 12 put
— Cash Settlement —
SPX 2040/2015 put spreads: looks like about 2.70 debit when 2040 puts are exercised
— Max Loss —
FDX (#Earnings) 157.50/162.50/165/170 iron condor, 1.70 loss.
SPX still moving down, put spread order filled
#SPXcampaign Sold to Open $SPX July 29th 1775/1750 put spreads for 1.30. I put this order in this morning… didn’t come close to a fill all day but just filled now at 4:14 ET as S&P ticked down further after hours.
Expiration SPX IC 2105/2110 2025/2020…
Expiration SPX IC 2105/2110 2025/2020 IC
Expiration
Out at full profit:
SPX 2140/2130 call spread
SPX 2030/2020 put spread
SPX 2020/2005 put spread
SPX 1985/1975 put spread
Took a hit:
SPX 2040/2025 put spread
SPX 2040/2030 put spread
Pretty exciting week! Glad it’s over. Crazy day today. If I didn’t already have gray hair, this one would have added a few. #OptionsExpiration
Breath-holding spell…
Wow…didn’t know I could hold my breath for an hour! Probably shouldn’t have and should have rolled those SPX 2040’s.
Looks like 2040 was breached and will have to take my lumps. Anyway, won’t have to worry about next week since I didn’t roll them. Will be able to sleep no matter what is in store next week.
Expiration
100% profitable:
SPX 1975/1950 put spreads
SPX 1985/1960 put spreads
SPX 2135/2160 call spreads
Thanks, Jeff
Have a great weekend everybody.
Escaped with my 2040’s in…
Escaped with my 2040’s in tact. Now trying to sell a call spread.
Looking ugly, folks. Any bounce…
Looking ugly, folks. Any bounce is the chance to get out.
SPX Rolled 2040/2025 to next…
SPX Rolled 2040/2025 to next week for a credit of 90.
SPX same day puts
#SPXcampaign Sold to Open $SPX June 24th 2020/1995 put spreads for 1.25, with SPX at 2047. 27 points OTM with three hours left… can it hold? Having to watch my 2040/2015 spreads more closely.
SPX short-term puts sold
#SPXcampaign Sold to Open $SPX June 29th (Wednesday) 1950/1925 puts spreads for 1.25-1.40. I have been scaling in, last spread order for 1.50 not filled yet.
SPX calls closed
#SPXcampaign Closed to free up margin. I think there will be a number of opportunities in following weeks to use on uncertainty of Brexit transition.
BTC $SPX June 30th 2160/2185 call spreads @ 0.15. Sold for 3.75 on June 7th as a roll, now profitable.
Looking to sell another put…
Looking to sell another put spread expiring today, 2020/1995, on next push down. Still short at 2040 and 2025. Ready to roll if I have to.
SPX put spread
STO Jun 24 2040/2030 for 1.40.
Will watch it, but I think we’re OK for the day.
SPX calls
Whew, just got into this today. What a day for my work to be intense and no time to really look at things. Took off any stops before the open. Closed two call spreads today at great profits and freed up margin and buying power.
Also, closed the put side of our IB for today and got out for 9.50 instead of the full 10.00 that would have happened at expiration later today.
STO SPX 2105/2110 .50 For…
STO SPX 2105/2110 .50 For today, makes an IC 115.00 Cr
STO SPX Today 2025/2020 for…
STO SPX Today 2025/2020 for .65 Cr
VIX indicator
It fired another signal today, by rising 25% above yesterday’s close. Next signal is at 25.00; the morning spike got close but it has no fallen back. It did reach a new intraday high of 24.15.
SPX calls closed
#SPXcampaign I closed these this morning as it released a huge chunk of margin:
BTC $SPX July 1st 2170 2195 call spreads for .20. Sold for 1.50 on May 31st.
BTC $SPX June 30th 2160/2185 call spreads for .20. Sold for 3.90 on June 7th (as a roll)
SPX puts sold
#SPXcampaign Sold to Open $SPX July 22nd 1875/1850 put spreads for 1.50, with SPX at 2058.
If you have no put…
If you have no put spreads expiring today, the 2025/2000 is still going for over 2.00. If you believe we won’t be dropping 90 points today, sell it!
Big move, maybe not yuuuge move
As I suspected, we will be opening well off the overnight lows, and right on the edge of my $SPX 2040/2015 put spreads. 2025/2000 spreads look to be in better shape. I removed all close orders for call spreads last night, otherwise they likely would have all closed in pre-market. I wanted to keep them open to offset margin stress on put spreads, and also to save money as many will now likely expire worthless. I will look to sell some deeper put spreads this morning. And some UVXY calls.
Looks like we are on…
Looks like we are on track for the biggest one day drop since August 2011, in percentage terms, and the biggest point drop since the 2008 crash. Who knows what the next few hours overnight will bring? Will have a coupe of ITM put spreads to deal with tomorrow.
IV that must be sold
#SPXcampaign #Brexit With an expected move of 38 points over the next 24 hours, you don’t want to miss out on the premium that’s available. Even though I already sold the 2025/2000 put spreads yesterday, I am also selling the 2040/2015 spreads now… 70 points OTM, 1.50 or more. You have until 4:15 ET to get a trade.
SPX puts closed
#SPXcampaign Bought to close $SPX June 24th 1975/1950 put spreads for .20. Sold for 1.50 on May 31st. I actually would have canceled this order and let these expire had I remembered this order to close was still working.
$SPX sold a June 24…
$SPX sold a June 24 2020/2010 BuPS for 1.15
Put spread I sold now…
Put spread I sold now going for 2.60. Take it, or drop to lower strikes. I am adding.
SPX condor completed
#SPXcampaign Sold to Open $SPX June 24th 2025/2000 put spreads for 1.90. Incredible premium for a 2-day trade. Completed a condor with calls sold a few minutes earlier.
$SPX closed a June 24…
$SPX closed a June 24 2070/2080/2080/2090 gamble for a loss of $50, clearing the way for others in this trade to profit on a correction tomorrow, taking one for the team.
SPX same-week calls
#SPXcampaign Sold to Open $SPX June 24th 2135/2160 call spreads for 1.35, with SPX at 2099. Expire in two days. I don’t believe a Remain vote for Brexit will drive the market this high this fast, but I can roll if it does.
SPX weekly call spread
STO Jun 24 2130/2140 call spread for 1.05.
SPX Call Sold
SPX July 2170/2190 for $1.10 when SPX @ 2096
SPX calls
STO Jun 30 2140/2150 call spread for 1.85 with SPX at 2095.
SPX calls sold
#SPXcampaign Sold to Open July 22nd 2180/2205 call spreads for 1.35, with SPX at 2097.
Options Expiration June 17, 2016
#OptionsExpiration — I am bearish moving into the remainder of the month, but especially early next week as fears about Brexit gain more steam… Yesterday’s murder in the UK actually calmed the markets, as morbid as that sounds, but as the vote draws closer I believe volatility will remain, but then possibly calm after the Thursday vote finally happens. But in any case, I will be selling both sides of SPX.
— Expiring —
FB 110 covered put
NUGT 65, 70, and 72 puts
UVXY 19 and 30 calls
SPX 1940/1915 put spreads (expired at the open)
SPXPM 2000/2020/2100/2120 iron condors (expired at the close)
Bistro VIX Indicator – Jeff…
Bistro VIX Indicator – Jeff your information on the Vix Indicator – is that a specific Indicator you have or is it your commentary on the action of the VIX ??
SPX call spread — couldn’t help myself!!!
Hands got numb so had to push some buttons. LOL.
Call spreads work, as @Jeff stated below.
STO Jul 29 2150/2160 call spread for 2.10.
This completes an iron condor that I started yesterday with the 1840/1825 put spread for 1.10.
Yes, it is unbalanced, but I like the total risk/reward at these strikes.
SPX call spread heaven
#SPXcampaign — This is the time and environment that you can mint money in SPX call spreads. When we bounced off the February lows, many faces were ripped off (still hurts) as we flew higher… but once we got back to 2100, they have been easy to sell above 2130 and easy to take profits or allow to expire. Whenever the market decides to make new highs, we will have plenty of room to roll higher. It is rare for a market to scream higher when it is notching new highs… the pace is much more controlled.
Bought to close $SPX June 24th 2145/2170 call spreads for .20. Sold for 1.35 on May 23rd. This was sold when SPX was down around 2050. It took some heat when we hit the highs of 2016 (2120)… that heat can be tough, and your account will draw down, but stick to your rules and roll higher and longer when you need to. My stop for this was 2125, which was never hit. This week has been my most profitable in months because of the many call spreads that plummeted in value.
SPX – BTC call spreads
#SPXcampaign – buy to close June 24 2150/2175 call spreads @ .15 sold on May 24 @ 1.30 and 1.40 in regular and IRA accounts.
SPX put roll
#SPXcampaign Sold to open $SPX June 30th (end-of-month) 1970/1945 put spreads for 2.10. Sold 1.5x number of contracts as a roll from put spread stopped at the bottom yesterday. Hopefully I sold this at the bottom today, which would keep the universe in balance. I chose this expiration (expires on a Thursday night) because I already have a call spread for that date.
SPX calls sold
#SPXcampaign Sold to Open $SPX July 8th 2160/2185 call spreads for 1.30, with SPX at 2077.
SPX puts stopped
#SPXcampaign Had another stop hit, but looks like I unfortunately exited at the bottom, without getting a fill on the roll. Now I will have to wait to sell a roll, perhaps in the calls if we go much higher before we go lower.
BTC $SPX June 24th 1985/1960 puts spreads for 3.00. Sold for 1.30 on June 2nd.
also, to balance margin:
BTC $SPX June 24th 2160/2185 call spreads for .20. Sold for 1.55 on May 25th.
From VIXCONTANGO.com
Of course they are just guessing like any body else…LOL
The SPX broke 2064 overnight which was the latest mini-support level of the alst 2 days. We’re in a vacuum here down to the 2040 level where the Nov-Dec lower highs support line sits. Underneath that is the 2020 level where the 100MA and 200MA sit.
The goal here is to go long volatility as the VIX will go to 25 or 30 or more as the SPX goes from 2060 to 2040 and ideally to the 2020 level.
Somewhere after the open, I will enter in a “Long VXX” trade at 50% of allocation. This trade should be executed in a margin account only because I may close the trade intraday at any time if the trade action goes against the trade or the VIX is seeming to peak (or the VX1 future stops responding to the VIX spiking). If you are using a 401(k), I recommend sitting this one out.
We are just entering negative contango here for a second time in a week (not a good sign for SPX bulls). VDelta is very negative. VCO and VTRO are also negative. VCO in particular is now negative for 4th straight day, a very ominous development for the SPX with a 100% volatility spike track record.
This is a good spot to go Long VXX even though the SmartVXX algo is not yet ready to pounce. The SmartVXX algo needs Contango and Roll Yield to get significantly negative (ie the Volatility Curve is heavily inverted). As such there is still risk of reversal (ie volatility reversing and starting to go down) here and for that I will have a pretty tight stop here at 5%. The worst loss should be 5% of 50% or about 2.5% of the portfolio. The target gain on this trade is anywhere from 10% to 25% over the next week. For those that are more adventurous, you can go with UVXY here to capture even more of the VIX pop. We could end up with a spike to VIX of 40 here. The Brexit will be the excuse, but the FED’s fumble yesterday will most likely be the real reason.
SPX call spreads closed
Several SPX call spreads closed this morning at predetermined profit levels, all for about 60-70% max profit. Trying to stay with discipline even though could probably have waited and gotten more of the max profit later. This discipline with the SPX spreads has resulted in my best, most profitable 4-5 months of trading ever. I suggest to all of you that you use a disciplined approach to trading, whatever discipline works for you. It’s when I put the discipline aside that I start losing money and having to scramble to make things happen. @Jeff, thanks for showing discipline in your approach to trading these SPX spreads. It is different from what I’m doing, but the encouragement to be disciplined has resulted in $$$ in my account instead of losses. Thanks!
SPX Puts sold
STO Jul 29 1840/1825 BuPS for 1.10 with SPX at 2051.
SPX,SVXY
Trying to keep things in perspective. From the recent high the SPX is down 3.2% and the SVXY is down 27.5%. There sure is a lot of volatility out there.
SPX puts sold
#SPXcampaign Sold to Open $SPX July 14th 1860/1835 put spreads for 1.50, with SPX at 2053.
SPX condor roll
#SPXcampaign Sold to Open $SPX July 14th 1825/1850/2160/2185 iron condors for 2.40. This is a roll from put spread stopped at last night’s close.
SPX puts stopped
#SPXcampaign So I can sleep better, I closed the last borderline put spread… bought to close $SPX July 8th 1975/1950 puts spread for 2.95. Sold on June 9th for 1.30. I will sell a roll tomorrow or Friday.
$VIX — http://www.zerohedge.com/news/2016-06-15/unprecedented-jump-vix
$VIX — http://www.zerohedge.com/news/2016-06-15/unprecedented-jump-vix
SPX Wednesday IC closed
BTC Jun 15 2120/2110/2050/2040 IC @ 0.20, with SPX at 2083.
Sold yesterday for 0.95.
This is probably safe, but with the Fed speak today, you just never know with this crazy market. I’ll gladly accept 78% of max profit in a day. 🙂
SPX puts closed
#SPXcampaign In pre-market, Bought to close $SPX June 16th 2025/2000 put spreads for .60. Sold for 1.75 on June 2nd. Closing early to avoid downside risk in light of Fed, VIX warning, and Friday AM settlement.
SPXM iron condor
#SPXcampaign Sold to Open $SPXM July 17th 2000/2020/2100/2120 condors for 2.40. This is the roll from the June 15th put spread stopped earlier. Fairly tight range for a volatile week, so I will need to be adept if Janet or anything else gives us more big moves.
SPX roll
Rolled SPX JUN 24 2016 2025/1950 BuPS to Aug 31 1825/1775 for .20 credit. (2x size but still very small)
This was originally a 1975/1950 put side of an iron condor where I had greedily rolled up the short side for extra credit. Approaching delta 25 so taking action. Now paired up with 2225/2250 calls for a new condor.
SPX spreads
Bought to Close SPX JUL 29 2016 1800/1775 Bull put spreads @ 1.20 (sold for 1.70)
Just playing it safe here…
Options Bistro 