Bought to close all my VXX Sep 18 2020 80.00 Calls at $0.01.
During the last VXX run I liquidated a long in this contract and turned around and shorted it as a low risk sale against October/November longs.
I’m now free of this short and ready for another VIX spike.
Category Archives: Uncategorized
SPY Call Rolled
Bought to close 1 SPY 09/14/2020 333.0 Diagonal Call / Sold 1 09/16/2020 334.0 Diagonal Call @ 0.04 Credit Plus one more point higher on the short strike.
The long side hedge is an October 16 2020 345.0 Call
Closing LABU
Bought to close 10/16 30 puts @ .40. Sold for 2.00 on 9/4. I’m completely out of this underlying now but they’ve all been profitable since I started dabbling (thanks @fuzzballl !) Will wait for a pullback to put any new positions on.
HAL Put Rolled
#shortputs
$HAL BTC 9/18 16 put and STO 9/25 16 put at added .o5 credit.
Closing BABA
$BABA Bought to close 9/18 270/280/290 iron butterfly @ 7.04. This was an adjusted position that began as a 225/235/280/290 iron condor that I had to start playing defense on, a few days after I entered on 8/20. The bull put spread was rolled up 3 times until the position became an iron fly with 7.16 in premium taken in. Closing today for 7.04 allows me to take the whole thing off for near breakeven.
SPX calendar
Sell Sep 21 / Oct 05 $3400 SPX call calendar @ $26.45 debit.
TDOC Put Closed / SQ Calls / KR Put Rolled
#shortputs
$TDOC BTC 9/18 180 put at 1.40. STO at 3.10. Thank you @fuzzballl
$KR BTC 9/18 35 put and STO 9/25 put at .11 added credit
#coveredcalls
$SQ STO 9/18 144 call at 2.40
CINF
Goes EX-Dividend for 0.60 tonight.
I’ve got CINF Sep 65.0 Covered Calls I suspect will be assigned early. Almost impossible to roll out a month for any premium so I guess I’ll take the cash influx and the profit on the stock.
I also have a Sep 70/75 Bull Call spread.
I did exercise the long side to prevent the short side getting assigned and costing me the dividend.
Edit:
The best outcome is if they don’t exercise the short 75.0 Call and I get the dividend on the long stock and they still take me out of the stock position at 75.0 on Friday.
LABU
#ShortPuts – Bought to Close LABU SEP 18 2020 40.0 Put @ .10 (sold for 1.30)
SPX 7-dte
#SPX7dteLong Sold to close $SPX Sept 14 3360/3340 put spreads for 1.05. Banking on the 3370/3390 call side for close. Condors bought for 18.25 last Tuesday.
Bought to Open $SPX Sept 18th 3370/3390-3400/3420 condors for 17.60, with SPX at 3395.
#SPX1dte – watching call side for today’s short condor closely as stop level has been breached.
#rolling #longcalldiagonals SPY Rolled Sept….
#rolling #longcalldiagonals SPY
Rolled Sept. 16, 345 call to Sept. 18 for .48, long is Oct. 23, 360
VIAC – They really wanted that dividend
Not only were my VIAC 09/11 23.00 Covered Calls assigned, but also my VIAC 09/18 23.00 Covered Calls, and even my 09/25 24.00 Diagonal calls (had to cover the resulting short this morning).
All that for 0.24
TSLA
#ShortPuts – Late fills…
Bought to Close TSLA SEP 11 2020 350.0 Put @ .10 (sold for 3.50)
Sold TSLA SEP 18 2020 330.0 Put @ 5.40
Expiration
#optionsexpiration
$AAPL 122.5 call
$SQ 145 call
$MRVL 38 put
VXX last put rolls
Bought to close VXX 09/11/2020 26.50 Puts / Sold VXX 09/18/2020 25.50 Puts @ 0.25 Credit
Bought to close VXX 09/11/2020 26.00 Puts / Sold VXX 09/18/2020 25.00 Puts @ 0.54 Credit
Bought to close VXX 09/11/2020 25.50 Puts / Sold VXX 09/18/2020 24.50 Puts @ 0.60 Credit
At least all my short calls will expire shortly 🙂
LULU
Roll $LULU Sep-18-2020 310/320 #BuPS // Sep-25 @0.23 debit
SPX trades
#SPX1dte Sold to Open $SPX Sept 14th 3205/3225-3415/3435 condors for 1.20, IV 17.07%, SPX 3341, deltas: -.06,+.06
#SPX7dteLong Sept 11th 3435/3415 put spreads expiring ITM for max credit of 20.00. Condors sold last Friday for 17.90.
(not so) Bonus trade: Sept 11th 3200/3220 call spreads expire ITM for max debit of 20.00. Sold for 17.25 last week, so loss of 2.75.
CHWY roll
$NVTA Put Closed
#shortputs
$NVTA BTC 9/18 25 put at .10. STO 8/11 at 1.05
SPY Call
One of these finally worked.
Bought to close 1 SPY 09/11/2020 339.0 Call @ 0.02. Sold this on Wednesday @ 4.35 on a rollup.
Replaced it with a short 09/16/2020 340.0 Call @ 1.17.
The long call it is paired against is a 10/16/2020 346.0 Call.
AMZN iron condor
Sold $AMZN 10/16 2650/2700/3500/3550 iron condor @ 14.39. Almost 30% the width of the strikes (short puts/calls at 15 and 18 delta). IV rank 52.
Econ Calendar for week of 9/14/20
#FOMC Wednesday afternoon
Link to calendar: https://research.investors.com/economic-calendar/
STX
#CoveredCalls – A new batch replacing this week’s. Should have this position long enough to capture the dividend the following week.
Sold STX SEP 18 2020 46.0 Calls @ .91
UVXY VXX
#ShortPuts – Rolling hedges…
Rolled UVXY SEP 11 2020 24.5 Puts to SEP 18 2020 23.5 Puts @ .15 credit (1.25 total now)
Rolled UVXY SEP 11 2020 24.0 Puts to SEP 18 2020 23.0 Puts @ .22 credit (1.05 total now)
Rolled VXX SEP 11 2020 27.0 Puts to SEP 18 2020 26.0 Puts @ .21 credit (.82 total now)
VIAC Roll
Bought to close VIAC 09/11/2020 29.0 Calls / Sold VIAC 09/18/2020 30.0 Calls @ 0.02 Credit but another point higher on the short strike for just one more week
The new short is above the recovery high on the stock and the stock goes Ex-Div next week too which should help it down by next Friday.
VXX
Bought to close VXX 09/11/2020 27.0 Puts / Sold VXX 09/18/2020 25.50 Puts @ 0.08 Credit plus an additional 1.5 points lower on the short strike.
Filled when VXX hit 26.25
WBA
New Diagonal Put spread
Sold WBA 09/18/2020 35.0 Puts / Bought WBA 10/30/2020 32.0 Puts @ 0.18 Credit
TRADES:
AAPL BTO STOCK I bought in tranches of 25 shares each @113.66. 112.75, 112.0
LCA STO 9/18/20 17.5 PUTS @.90
LCA STO 9/18/20 20.0 CALLS @.80 This week this is a weekly, next Friday it becomes a monthly again.
DOCU put spread
I might be a bit early on this one but the stock is down over 30% since before the earnings announcement last week and while the stock is down a little today, selling momentum seems to have slowed with price now hanging around with the 50 day moving average. Sold $DOCU 10/16 180/170 bull put spread @ 2.28. Short puts 27 delta. IV rank is 39.
VXX – starting my rolls
Bought to close VXX 09/11/2020 27.50 Puts / Sold VXX 09/18/2020 26.50 Puts @ 0.12 Credit plus an additional point lower on the short strike.
Filled when VXX hit 26.15
DKNG, I did a combo…
DKNG, I did a combo for a debit of .65 cents for October 16 expiration.
BTO 1, 45 call
STO 2, 55 call
BTO 1, 60 call
STO 1, 35 put
I did the same trade on PENN for a debit of 1.60 but different strikes.
AAL
Not timely – STO Sep-18-2020 AAL 14 CoveredCalls @0.32.
Holding Sep-11-2020 AAL 14 Calls short expecting to expire today.
WBA Put roll
Bought to close WBA 09/11/2020 36.0 Puts / Sold WBA 09/18/2020 36.0 Puts @ 0.17 Credit.
LULU
#ShortStrangles -Risk reduction.Should have followed @jsd501 out yesterday! I’ll still take it. 🙂
Bought to Close LULU SEP 18 2020 300.0/380.0 Strangle @ 1.98 (sold for 4.60)
WDC Calls
Sold WDC 09/18/2020 40.0 Diagonal Calls @ 0.25 replacing the calls for this week I covered at a penny yesterday.
#DoubleDip
CHWY Earnings
#ShortPuts #Earnings – No interest in keeping this one. Taking the beer money.
Bought to Close CHWY SEP 18 2020 55.0 Puts @ .89 (sold for 1.35)
WDC
Bought to close WDC Sep 11 2020 40 Diagonal Calls @ 0.01.
They won’t trade any lower
#earnings PTON Sold Oct. 16,…
SPX 1-dte
Skipping the trade for tomorrow’s expiry.
QQQ, looking at the chart,…
QQQ, looking at the chart, it looks like we could go down to 250 if it breaks the 50day MA. Not making a prediction but just being cautious.
A TRADE:
OSTK BTC 9/11/20 81.0 CALL @.90 STO @4.20 this morning.
TDOC
#ShortPuts – Just for safety…
Bought to Close TDOC SEP 11 2020 185.0 Put @ .28 (sold for 2.90)
LABU
#ShortPuts – Closed some this morning. Throwing some new starters out there now.
Sold LABU SEP 25 2020 40.0 Put @ 1.65
Sold LABU OCT 2 2020 35.0 Put @ 1.15
#earnings CHWY #jadelizard with a…
#earnings CHWY #jadelizard with a long put
Sold Sept. 18, 55.50/59.50/62.50/64 for 2.13
Thanks for the data Jeff
Preparations for the Elections more…
Preparations for the Elections
more of a general question but how are you preparing for the jump of volatility that inevitably will happen during the first week(s) of November.
- Do you retreat to all cash in your trading accounts?
- if not, do you hedge it and how?
I have started to get some long calls on VXX, far OTM with expiration in November and/or December, added a Call calendar in VXX with October / November expiration. Just not sure what else could be done
CHWY earnings analysis
#Earnings $CHWY reports tonight. Below are details on earnings one-day moves over its entire history.
A rare case where the expected move is nearly twice its historical maximum move.
June 9, 2020 AC -3.64% -3.64%
April 2, 2020 AC -4.82% -4.82%
Dec. 9, 2019 AC +5.45% 5.45%
Sept. 17, 2019 AC -6.14% -6.14%
July 18, 2019 AC -6.57% -6.57%
Avg (+ or -) 5.32%
Bias -3.14% , negative bias on earnings.
With stock at 62.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 54.66 to 69.34 (+/- 11.8%)
Based on AVERAGE one-day move over last 5 quarters: 58.70 to 65.30
Based on MAXIMUM one-day move over last 5 Q’s (6.6%): 57.93 to 66.07
Based on UP max only (+5.5%): 65.38
Open to requests for other symbols.
DIS (ESPN), VIAC (CBS)
Both higher on the start of the NFL season tonight
Are people so starved for entertainment?
RH earnings
Up 23% on earnings
How do analysts keep getting this one wrong?
Fires
Jeff, I hope you are OK where you are
Gov. Kate Brown said the communities of Blue River and Vida in Lane County had been devastated by wildfires this week, while Phoenix and Talent, in the southern part of the state, have reported “significant damage,” the Portland Tribune reported.
Brown said, “this could be the greatest loss of life and structures due to wildfire in state history. ”
The state’s fires remain largely unchallenged Thursday morning as emergency personnel continues to evacuate thousands of people to safety. Doug Grafe, with the Department of Forestry, said the fire situation in the state is “zero percent containment.”
“The largest blaze is the Santiam/Beachie Creek Fire, at 132,450 acres burned east of Salem. It is zero percent contained. The Lionshead Fire has burned 109,222 acres. Fire officials said they expected the fires in the Santiam River area to combine into one large blaze about 3,000 firefighters are deployed,” The Tribune said.
A TRADE:
OSTK STC STOCK @82.28 BTO 80.75 81.0 CALL, now uncovered Expires tomorrow.
VXX
Sold to open 1 VXX 09/18/2020 30.0 Call @ 0.98 against a long October 70.0 call left over from an old diagonal spread.
Took the money and bought a speculative December 90 call @ 0.86 ( Election hedge).
VXX @ 27.20
#earnings #closing LULU Sept. 8,…
Sept. 8, sold Oct. 16 #ironcondor for 2.66, bought today for 1.96.
LULU roll
Closing CRWD
Bought to close $CRWD 9/18 110/115//145/150 iron condor @ .65. Sold for 1.40 on 9/3.
CHWY Earnings
#ShortPuts – Going out a week and staying small.
Sold CHWY SEP 18 2020 55.0 Puts @ 1.35
LULU, BTC September 18, 300/380…
LULU, BTC September 18, 300/380 strangle at 1.30, sold at 5.50, hat tip to Fuzzball for the idea.
LABU OSTK
#CoveredCalls #ShortPuts – Booking, rolling and adding…
OSTK: Covered call and new sale.
Rolled OSTK SEP 11 2020 70.0 Call to SEP 18 2020 70.0 Call @ 2.16 credit
Sold OSTK SEP 18 2020 75.0 Put @ 4.00
LABU: These weren’t looking so hot a couple days ago. I’ll take ’em here.
Bought to Close LABU SEP 11 2020 45.0 Puts @ .30 (sold for 1.80)
Bought to Close LABU SEP 11 2020 47.5 Put @ .70 (sold for 2.45)
Closing AMZN
Bought to close 9/18 $AMZN 2980/3000//3600/3620 iron condor @ 2.60. Sold for 6.79 on 8/18.
A TRADE:
OSTK BTO STOCK 80.75 To cover short call I traded today. Expires tomorrow. Stock up 11.0 points on what, I think, is positive news.
SPX 7 dte
#SPX7dte Bought to Open $SPX Sept 16th 3395/3415-3425/3445 condors for 17.75, with SPX at 3419.
A TRADE:
OSTK STO NTM 9/11/20 81.0 CALL @4.20
Closed AMZN 2940/2990-3950/4000 Iron condor…
Closed AMZN 2940/2990-3950/4000 Iron condor at 7.00, sold at 8.01
I am back.
VXX
Sold 1 VXX Sep 11 2020 25.50 Put at $0.27.
Sold against old long Puts as always
#DoubleDip
#closing AMZN Aug. 21, sold…
#closing AMZN #shortputspread NKLA
AMZN Aug. 21, sold an Oct. 16, 3030/3050/3660/3680 #ironcondor for 6.30, bought today for 3.48
NKLA sold Oct. 16, 20/30 for 1.47
ABBV – Oven Baked Election Proof
BTO ABBV stock @ $92.19
STO ABBV Nov: 90 call @ $5.25
BTO ABBV Jun 2022: 120 put : @ $38.42
ABBV pays a $4.72 per share dividend (5.1% yield).
For the $120 protective put you are paying (92.19 + 38.42) – 120 = $10.51 premium. The first call sale ($5.25) pays off 50% of that premium.
NFLX
#ShortStrangle – Adding another short call to the strangle for additional premium.
Sold NFLX SEP 18 2020 550.0 Call @ 1.75
Position is now 475/550/600 @ 8.40
$SPX for Friday
Let’s try this again. Sold $SPX 9/11 3300/3325/3500/3525 iron condor @ 3.95. Short deltas 14 (puts) 10 (calls).
VXX Diagonal Calendar Put
I’m adding to my long in a new expiration month with this spread.
Bought to open VXX 03/19/2021 14.0 Puts / Sold VXX 09/11/2020 26.50 Puts @ 0.07 Credit.
VXX is 26.65
SPY Roll
Bought to close 1 SPY 09/09/2020 337.0 Call / Sold 1 SPY 09/11/2020 339.0 Call @ 0.14 Credit
Got a 2 point better strike on the short for just 2 more days.
Did the switch with SPY @ 341.28
RH condor
#Earnings Got filled on what is almost a 1/1 risk/reward, on the chance this will have a smaller than usual move.
Sold $RH Sept 11th 285/287.5-352.5/355 condors for 1.202. Strikes are 10.2% OTM, while average move has been 16.2%. But that average is skewed higher by some huge moves that haven’t happened in more recent quarters.
SPX trades
#SPX1dte Call side stop was touches, so BTC $SPX Sept 9th 3440/3460 call spreads for .45. Condors sold for 1.15… total closing costs .60, so profit of .55.
#SPX7dteLong Set to expire: $SPX Sept 9th 3480/3460 put spreads for max credit of 20.00. Condors bought for 17.20 last Thursday, so profit of 2.80.
#ironcondor TSLA Sold Oct. 16,…
#ironcondor TSLA #shortputs WBA
TSLA Sold Oct. 16, 250/260/450/460 for 3.56
#tastytradefollow
WBA sold Oct. 16, 32.50 put for .53
SPY
First new position in a while as I add to my spreads
Bought 1 SPY 10/23/2020 360.0 Call / Sold 1 SPY 09/16/2020 345.0 Call @ 0.22 Credit.
The real money is not made on the first write, but on the follow on writes if the first short expires.
SPY at 341.50 when this was put on.
NUGT Calls Rolled / VXX Puts
#coveredcalls
$NUGT BTC 9/18 100 calls and STO 9/26 105 calls at .15 debit. Been rolling this longer then the miller’s daughter in Rumpelstiltskin has been spinning gold from hair.
#shortputs
$VXX STO 9/11 26 put at .25. Thank you @optioniceman for reminding to sell against the long $VXX pyt.
RH earnings analysis
#Earnings $RH reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
June 4, 2020 AC -0.88%
March 30, 2020 AC -14.85%
Dec. 4, 2019 AC +13.39%
Sept. 10, 2019 AC +5.07%
June 12, 2019 AC +15.82%
March 28, 2019 AC -21.96% Biggest DOWN
Dec. 3, 2018 AC +10.90%
Sept. 4, 2018 AC -13.06%
June 11, 2018 AC +30.54%
March 27, 2018 AC +22.48%
Dec. 5, 2017 AC +0.79%
Sept. 6, 2017 AC +44.75% Biggest UP
Avg (+ or -) 16.21%
Bias 7.75%, positive bias on earnings.
With stock at 320.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 279.63 to 360.37 (+/- 12.6%)
Based on AVERAGE one-day move over last 12 quarters: 268.14 to 371.86
Based on MAXIMUM one-day move over last 12 Q’s (44.8%): 176.80 to 463.20
Based on DOWN max only (-22.0%): 249.73
Open to requests for other symbols.
Options Bistro 