#SPXcampaign Bought to close $SPX June 15th 2060/2035 put spreads for 3.10. Sold last week for 1.70. One of those frustrating ones, with plenty of chances to close for breakeven or small profit, but it got away from me. Holding off on the roll until I see where SPX goes today.
Category Archives: SPX Campaign
SPX puts stopped
#SPXcampaign #CondorRoll Another 3-dollar stop hit, rolling into a condor.
Bought to close $SPX July 1st 1990/1965 put spreads for 3.00.
Sold to Open $SPX July 6th (Wednesday) 1825/1850/2160/2185 iron condor for 2.30, 1.5x position size.
$SPX Wednesday iron condor
STO Jun 15 2120/2110/2050/2040 IC @ 0.95, with SPX at 2077.
SPX puts spreads stopped
I am stopping out on three put spreads, details to follow. Not sure about rolls yet.
Stock market or Brexit controlling the VIX?
It could be that the VIX and market volatility in the coming days will not be controlled as much by the market moves as it will be by the polling on the Brexit vote. It has been running neck and neck and may continue to do so into June 23rd’s vote.
It is widely believed that the UK’s exit from the EU would cause economic pain and market volatility. The “Leave It” campaign has been gaining in the polls which is possibly the reason for what we’ve seen Friday and today.
This would help explain the explosion we’ve seen in the VIX price which is not matched in its extreme by the indices. SPX is down less than .5%, while VIX has been up over 16% two days in a row. The last time the VIX was up over 16% was on Jan 7th, when SPX dropped 2.37%.
SPX puts sold
#SPXcampaign Sold to Open $SPX July 14th 1910/1885 put spreads for 1.40, with SPX at 2089. This order was in before the Warning fired.
Downside WARNING fired
#VIXIndicator The Bistro VIX indicator has fired a downside warning. This means there is a high probability of a correction in the coming days or weeks. The VIX has increased 25% within 2 days, hitting 18.30, which is 25% above Thursday’s close. That was the first signal. Then we crossed 18.75, which is 50% above the most recent VIX low (12.50 from April 20th). That was the second signal, and two signals equal a WARNING.
Be leery of the downside, careful with any rolls. Historically, a bigger correction usually occurs after two signals fire; it could be this week, or it could occur weeks from now. To negate this warning, we would need new highs on the S&P (above most recent high of 2120.55, set last week), or the VIX closing three consecutive days below the 78.6% Fib retracement, or 14.32 (based on VIX intraday high of 21.01).
SPX calls sold
#SPXcampaign Sold to Open $SPX July 14th 2175/2200 call spreads for 1.80. Trying something slightly different, selling calls at the bell on a Monday, even with market down. Premium seems to drain quickly from calls as the week progresses, so I think what I get here will be better than what I can get with SPX at 2100 later in the week. We shall see. But in any case, comfortably above all-time highs.
Bistro VIX Indicator for Monday 6/13 (always available in the right-hand column >>> )
Friday’s move in the VIX was the biggest one-day change since January 7th, but fell short of firing a warning signal.
Monday’s signal levels in the VIX that would fire a Downside Warning are 18.30 (25% above 2-day closing low), and 18.75 (50% above Apr 20 low).
Fingernails shorter, but antiperspirant working…
Nail-biter day with the AMZN trade, sweating a bit, but breathing calmly now!
AMZN 730/725/715/707.5 IC – Sold today for 1.10 and expired worthless.
SPX 2090/2075 put spread – sold today for 1.15 and expired worthless.
Ready for a calmer weekend! Hope the same for you all.
Options Expiration 6/10/16
— Expiring —
DUST 22 call
SPX 2135/2160 call spreads
SPX 2090/2070 put spreads
Have great weekend!
Closing SPY scalp
Closing SPY scalp
Maybe a little piggish but it started to run toward the end of the day and with the decay in hyperdrive I hung on for some more.
Bought to close $SPY Jun 10 209.50 puts @ .02. Sold for .26 earlier.
Never use auto-STOPS on spreads
#SPXcampaign Here’s a good example of why you should avoid automated stops on spreads, especially SPX spreads. This is a screen shot from my broker I just took. It’s the spread I sold this morning, 2090/2070. Bid is .15 and ask ia 10.45, so Mid is 5.30! If I had put a 3.00 auto-stop on it, it would have survived the whole day until a few minutes ago. Of course, the bid/ask can get wacky when it’s about to expire in 30 minutes (and also first thing in the morning, and after hours), but this kind of anomaly can happen at any time and slam you out of your spread with a horrible fill.
SPX puts sold
#SPXcampaign Sold to Open $SPX June 15th 2060/2035 put spreads for 1.70, with SPX at 2093. Expires Wednesday at the close. Thirty points down in three days could easily happen, so if we drop further today and/or don’t bounce Monday I will roll this.
SPX closed a June 24…
SPX closed a June 24 iron condor for 80, sold for 1.64 on May 9. 1900/1890/2160/2170. SPX isn’t going to 1900 next week-probably not but…
SPX puts
Getting close to having a roll out on today’s spread. This spread will move up in price VERY fast if we keep dropping. Be careful.
Same day put spread
#SPXcampaign Sold to Open $SPX June 10th 2090/2070 put spreads for 1.35, with SPX at 2098
More SPX puts sold
#SPXcampaign Sold to Open $SPX July 1st 1990/1965 put spreads for 1.30, with SPX at 2109.
SPX puts sold
#SPXcampaign Sold to Open $SPX July 8th 1975/1950 put spreads for 1.30, with SPX at 2109.
SPX Wednesday expiration.
SPX Jun 8 2130/2125/2090/2085 IC that I sold on Monday for 1.00, expired worthless. 100% profit.
SPX puts sold
#SPXcampaign Sold to Open $SPX July 8th 1980/1955 put spreads for 1.30, with SPX at 2112.
SPX call roll
#SPXcampaign #Rolling
BTC $SPX June 16th 2130/2155 call spreads for 5.50 (sold for 1.40 on May 20th)
STO $SPX June 30th (monthly) 2160/2185 spreads for 3.90 (1.5x position size)
SPX Call Spread Sold
July WK2 2185/2205 for $1.15 when SPX @2116
SPX iron condor expiring in 2 days.
A little more risky, but STO Jun 8 2130/2125/2090/2085 iron condor for 1.00.
SPX calls sold
#SPXcampaign Sold to Open $SPX July 8th 2175/2200 call spreads for 1.65, with SPX at 2108.
#SPXcampaign BTC SPX 10 JUN…
#SPXcampaign BTC SPX 10 JUN 16 2135/2160 BrCS @.35 sold it for 1.55 on 5/25/2016
SPX Sold short strikes expiring today- risk off
#SPXcampaign 6/1 STO 2070/2065 put spreads @ .35, 6/2 STO 2115/2120 call spreads @ .35, and Iron Condor expiring today, BTC both put and call spread short strikes @ .05 each taking risk off, longs will expire worthless. I’ve been bitten before by SPX late day snap backs, happy with 86% profit and free to leave early for the beach.
Have a great weekend fellow Options Bistro traders and Jeff “thanks a latte!”
PS: Anyone hear anything on TastyTrade about Karen-the-Super-Trader?
SPX calls sold
#SPXcampaign Sold to Open $SPX July 1st 2165-2190 call spreads for 1.50, with SPX at 2101.
Every day this week, flush…
Every day this week, flush down and rally back. Job numbers don’t matter, it’s just the consolidation we’re stuck in. Perfect for #SPXcampaign.
SPX and Double Calendars Closing
BTC Jun 30 SPX 2135/2160 for $4.65 Sold for $6.15 on 5/11
BTC Jun 30 SPX 1970/1995 BuPS for $1.65 Sold for $8.30 on 5/5.
STC Jun 6/Jun 10 AMBA Double Calendar for $4.08 Bought yesterday for $0.80
STC Jun 6/Jun 10 AVGO Double Calendar for $0.92 Bought yesterday for $1.40
STC Jun 6/Jun 17 KORS Double Calendar for $2.06 Bought on 5/31 for $0.55
$SPX put spread
Sold $SPX Jul 15 1920/1895 BuPS @ 1.30. Close to 2 standard deviations (=1913).
SPX call spread closed
STC Jun 10 2140/2130 call spread for 0.45. Originally sold for 1.10 on 5/25.
Trying to maintain my disciplines of closing early for >50% profits. It’s working!
SPX puts sold
#SPXcampaign Sold to Open $SPX June 24th 1985/1960 put spreads for 1.30, with SPX at 2092
#SPXcampaign BOT SPX 8 JUL…
#SPXcampaign BTC SPX 8 JUL 16 1825/1800 @.35 sold on 5/13/2016 @ 1.45
#SPXcampaign BTC SPX 22 JUL…
#SPXcampaign BTC SPX 22 JUL 16 1775/1750 PUT @.35 CBOE sold on 5/19/2016 for 1.45
this is what I like, far away and can be closed 7 weeks before expiration
SPX puts sold
#SPXcampaign Sold to Open $SPX June 16th 2025/2000 put spreads for 1.75. Extra spread since my normal ones for this expiry were already closed for profits.
Karen the SuperTrader maybe not so Super
Looks like Karen had been using In-The-Money Calendars on E-minis to avoid showing losses for about 19 months. You can read section 58 onwards in the SEC filing for an explanation of the trading scheme. Quite sad if it’s true.
http://www.tennessean.com/story/news/2016/05/31/feds-brentwood-firm-schemed-gain-millions-ill-gotten-fees/85211006/
SPX calls sold
#SPXcampaign Sold to Open $SPX July 1st 2170/2195 call spreads for 1.50. Got both sides of a condor today.
SPX puts sold
#SPXcampaign Sold to Open $SPX June 24th 1975/1950 put spreads for 1.50. I was supposed to sell the June 24th expiry last week, but with virtually no down days I only sold calls. So making up for it now.
SPX puts sold
#SPXcampaign Sold to Open $SPX July 1st 1950/1925 put spreads for 1.25.
First put spread I have sold in over a week. Missed a fill on a new call spread at the top today.
Another SPX IC
Jul 8 2190/2180/1950/1940 for 1.35
Have all call spreads in June, so if we pull back more will start adding put spreads.
SPX iron condor
STO Jul 15 2190/2180/1930/1920 for 1.55
SPX Today….
This is my take on the SPX for today…
Full profit
#OptionsExpiration
$SPX 1955/1980 BUPS
$NUGT 65 put
$NUGT 70 put
$NUGT 68 call
$NUGT 150 call
$NUGT 142 call
$SPX 1915/1940 BUPS
$SVXY $40 put
$UVXY 16 call (covered) will resell
Sold early
$SPX JUNE 3 1885/1910 BUPS sold for .05. Bought for 1.4
No assignments. Keeping fingers crossed.
Thanks for everyone’s support.
Have a restful weekend.
Hug a veteran.
Options Expiration 5/27/16
— Expiring —
NUGT 130 & 170 calls
PANW 155/160 call spreads
SPX 1980/1955 put spreads
UVXY 28 call
–Assignment–
PANW 140 and 135 puts, taking the stock.
SPX put spreads
Bought to Close SPX JUN 30 2016 1825/1800 Bull put spreads @ .25 (sold for 1.40)
SPX call spreads
One quickie today. With June practically worthless moving out to Sep.
Sold SPX SEP 16 2016 2250/2275 Bear call spreads @ 1.60
Bought to close July 1,2150/2175 bear call spread @3.60, sold at 4.00, just nervous about this market.
Bought to close July 1,2150/2175 bear call spread @3.60, sold at 4.00, just nervous about this market.
$SPX put spreads closed
All of my put spreads have closed out this week (profitably) with the upward bias right now.
Now, to watch my call spreads carefully. We seem to be hammering up against resistance here close to 2100. Would like to see it pull back now and can add some put spreads to the mix.
SPX closed puts
#SPXcampaign Bought to close June 16th 1895/1870 put spreads for .20. Sold for 1.30 on May 17th.
SPX roll out
#SPXcampaign #Rolling #CondorRoll
STOPPED, $SPX June 1st 2105/2130 call spreads for 3.20.
Sold to Open $SPX June 16th 1915/1940/2135/2160 iron condors for 3.30.
Sucks to have to roll it but can’t risk more crushing upside.
Jeff, I followed you on the July 1, 2150/2175 SPX call spread butI can’t get a handle on this market right now.
Jeff, I followed you on the July 1, 2150/2175 SPX call spread butI can’t get a handle on this market right now.
SPX calls rolled
#SPXcampaign Bought to close $SPX June 10th 2110/2135 call spreads for 6.55. Sold for 1.20 last Thursday as a roll. Rolled to…
Sold to Open $SPX July 1st (Wednesday weekly) 2150/2175 call spreads for 3.95 (1.5x position size).
As I posted earlier, put rolls have worked beautifully, EXCEPT the ones I rolled to condors. Now the call sides are getting destroyed. No worries, though, I can roll those, too.
SPX calls sold
#SPXcampaign Sold to Open $SPX June 24th 2160/2185 call spreads for 1.55, with SPX at 2090.
SPX call spread
STO Jun 10 2130/2140 BeCS for 1.10.
SPX put spreads closed
#SPXcampaign All the rolling I had to do during the last couple weeks’ pullbacks worked like a charm…
In pre-market…
Bought to close $SPX June 1st 1980/1955 put spreads for .15. Sold for 2.55 as a roll on May 13th.
Bought to close $SPX June 16th 1900/1875 put spreads for .30. Sold for 2.00 as a roll on April 14th.
#spxcampaign kind of following Jeff….
#spxcampaign kind of following Jeff. $SPX STO July 29 2170/2180 for 1.70
SPX calls sold
#SPXcampaign Sold to Open $SPX July 29th 2150/2175 call spreads for 5.75. This is a roll from previously stopped calls spreads from March & April. Going farther out in time with plenty of flexibility to roll further out should we have a sustained summer rally.
SPX call spreads sold
#SPXcampaign Sold to open Jun 24 2150/2175 call spreads for 1.30. SPX at 2067, .08 delta.
SPX call spread
STO Jun 24 2145/2155 BeCS for 0.90.
SPX puts closed
#SPXcampaign Bought to close $SPX June 10th 1890/1865 put spreads for .20. Sold for 1.25 on Thursday.
SPX spreads closed
#SPXcampaign BTC Jun 3 1940/1915 put spreads for 0.20. Sold for 1.30 on 5/12.
SPX iron condor
STO Jul 1 2160/2150/1860/1850 IC for 1.25
SPX spreads closed
#SPXcampaign BTC Jun 3 1900/1875 put spread for 0.15. Sold for 1.25 on 5/3.
Market doesn’t seem to have conviction and direction
Like last year, the market staying at a shallow trading range; Jeff’s system is great for this market condition. Last year we made a bunch of money, until Aug, when the bottom fell off.
SPX spreads closed
BTC Jun 3 1950/1940 put spread for 0.25. Originally sold for 0.70.
BTC Jun 10 1915/1905 put spread for 0.30. Originally sold for 0.80.
SPX calls closed
#SPXcampaign Bought to close $SPX May 27th 2105/2130 call spreads for .10. Sold for 1.10 on May 13th.
SPX calls sold
#SPXcampaign Sold to Open $SPX June 24th 2145/2170 call spreads for 1.35, with SPX at 2050. Sold early as premium tends to be higher on Monday mornings than at anytime during the week (assuming, of course, the index doesn’t move much). Now trying for the 1890/1865 put spread.
Options Expiration 5/20
Full Profit
$SPXW 1980/2005 BUPS
$GOOGL 690/700 BUPS
$NUGT 65 Puts
$NUGT 85 Puts
$NUGT 60 Puts
$NUGT 86 Puts
$NUGT 170 Call
$SWHC 22 Put
$SVXY 36 Put
$BOIL 14 Call (covered)
$RLYP 23 Call (covered)
$CNX 45 Call (covered)
$CHK 6 Call (covered)
$VSI 25 Put
$SVXY 39 Put
$UVXY 18 Call
$XME 24 Call (covered)
$EPD 27 Call
Assigned
$XOP 34 Call Basis 32,93
$AAPL 96 Call Basis 109
$BXLT 42.5 Call Basis 41.4
Total Loss
$TSLA 200 Put
$GOOGL 775 Call
Closed Early
$NFLX 85/90 BUPS 84% Profit
$AAPL 90/95 BUPS 67% profit
$NUGT 130 call 75% profit
$SPX July 8 BeCS 2155/2170…
$SPX July 8 BeCS 2155/2170 for 1.50
SPX Call Spread sold
SPX Jun16 2135/2155 when SPX @2054 for $1.00
SPX calls sold
#SPXcampaign Sold to Open June 16th 2130/2155 call spreads for 1.40, with SPX at 2051.
SPX puts closed
#SPXcampaign In pre-market, bought to close $SPX May 27th 1940/1915 put spreads for .30. Sold for 1.30 on April 25th.
SPX put profits, one day
#SPXcampaign Bought to close $SPX May 25th 1975/1950 put spreads for .70. Sold this morning for 1.50. Took it off the table in case we have another rollercoaster tomorrow (in which case I will try to sell this same spread again).
SPX puts closed
#SPXcampaign Sold to Open $SPX May 25th 1975/1950 put spreads for 1.50, with SPX at 2032.
I don’t like selling the monthlys with their AM settlement for short-term fear-trade, so I jumped to next Wednesday’s. I may try to close end of today if we rally back enough.
Meanwhile, two spreads touched my 3.00 stops at the bottom today. I am not closing yet… will wait to see how day settles and decide from there. If we start another sharp drop I will close at least one of them and roll.
VIX has popped today but is still pretty far from its lowest signal level (18.75).
Options Bistro 