ESPR BTO STOCK @45.60 A starting position. Have taksan, ;>) short call and put positions.
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Adding to SOXL
#ContangoETFs This is one of the few short options positions I’m managing in this correction…
I have a few #VXXGame positions, but other than that my shorts are mostly calls in commodity ETFs that aren’t as affected by the selloff.
Sold $SOXL Dec 85 put for 5.40.
Sold that for 1.60 more than I sold the Dec 90 put on Monday.
TQQQ
BTO 2021 60 calls @ 19.50
VIX long puts
#VXXGame Not something I’ve done before,
Bought to open $VIX Oct 30th 16 puts for 1.30. A bet we’ll be back below 12 by the end of the month. I’ll add more if I can get the price down closer to 1.00.
SPY calls
Not my usual type of trade but playing an oversold bounce into the close.
Bought $SPY 10/12 280 calls @ 2.62. Will keep a tight leash on it, stop at 2.50.
Dump!
Big day. Time to turn on CNBC and watch them all freak out. The British host seems so calm, though.
LABU STO LABU Oct19’18 55…
LABU
STO LABU Oct19’18 55 PUT $0.90
TQQQ STO TQQQ Oct19’18 50…
TQQQ
STO TQQQ Oct19’18 50 PUT $0.60
TQQQ
STO October 66.5 calls @ .60 against my 2021 long calls.
Afternoon. #spxcampaign BTC my Oct…
Afternoon. #spxcampaign BTC my Oct 19th 2940/2960 BeCS @ .30. Opened yesterday at 1.65. This makes the IC profitable.
XBI, EWZ.
VIX Game
Bought VIX Oct17 20/25 BuCS @ .63 avg price for insurance to protect against another big leg down in SPX.
#vixgame
UVXY adding
#VXXGame Sold $UVXY Jan 2020 85 call for 14.15. Highest available strike.
SPX-it
#SPXcampaign Stopped out, $SPX Oct 19th 2790/2765 put spreads for 6.05. Sold this morning for 3.25.
Basically I just lost the same amount that my call spread is winning me.
Will look for better entries at a better time. Now is not it!
TQQQ
BTO January 2021, 60 calls @20.50
AMZN
STO October 26, 1550/1570 bull put spread @ 2.15
Doubling Down
#PreEarnings Well, you gotta pick a bottom sometimes… actually, you don’t really, but I did. Doubling down on my two lowest priced long options trades. These report Oct 23 & 24, respectively.
Bought $CAT Oct 26th 165 calls for .29. Avg cost now .827 on a double sized position.
Bought $VALE Oct 26th 15.5 calls for .44. Avg cost .477 on a double size.
Adding to TQQQ
#LongLEAPs Bought $TQQQ Jan 2020 66.67 call for 12.60, adding to my first one I bought for 17.60 last Thursday.
Closes and adjustments
Closed WMT and UNH lophirs for profit.
Closed half of SSO lophirs for loss.
Adjusted ADBE, AMZN, DIA, GOOGL, ISRG, MSFT, NFLX, and remaining SSO lophirs with call credit spreads and long puts. Adjustment goal is to extend range to the downside and neutralize rising deltas.
It’s been a tough week for my positions. Down but not out.:-)
DENN
Denny’s is up today, apparently the flight to quality is from AAPL, ANET, AMZN–to Dennys!
VIX hedge
#Hedge – I didn’t think this would pay until the election. It may do better but I’m booking it while it’s nice and green.
Sold 10 VIX Nov 11/13/17/21 double verticals @ .56 (bought for .10)
Actually left the long 11’s on for maybe a drop…
TNA
#ShortPuts #IRA – Adding one here…
Sold TNA JAN 18 2019 60.0 Put @ 3.05
SJM
BTC October 19, 90 puts @ .05, sold at 1.15
My only winner of the day.
TRADES:
ROKU BTC 10/12/18 69.0 & 70.0 CALLS @.05
SFIX BTC 10/12/18 29.,29.5 &30.5 CALLS @.02 & .03
S
No predictions here but I…
No predictions here but I don’t think we bounce until the VIX is in the 20s.
Only trade that is working for me at the moment is /CL. MU, WDC, EXPE, and most of the chips all suck. Good thing they are #fuzzies and still have 1-2 years to break even.
I am now flat on profits for the year in my core account but still have 12k + of decay over the next 35 days. Unfortunately they theta decay is not keeping pace with the dropping market.
XLF flat
Financials are flat on a 1% down day.
MLM Jan
Sold $MLM Jan 18 2019 150 put @ 2.20
#FallingKnife
TQQQ-bearish trade
STO January 55 puts @ 5.10 against my January 50 puts that I am long in January. This trade will cover my exposure and give me a gain of .11 cents on expiration. I was tired of looking at a loss for the last several months and am moving on.
WTW
#CoveredCalls – Continuing to sell these around my breakeven level….
Sold WTW OCT 26 2018 65.0 Calls @ 2.15
TLT
#PerpetualRollingStrangles – Adding another batch with stops on the others.
Sold TLT NOV 16 2018 117.0 Calls @ .40
PYPL
#LongCalls #LEAPS – Earnings next week. Would like a bounce of some sort to sell more there.
Bought to Close PYPL OCT 19 2018 92.0 Calls @ .05 (sold for .62)
Pre-Earnings long call update
#PreEarnings Bought my last batch of $VFC Oct 26th 95 calls for 1.05. Avg price on full position, 1.20.
The remainder are all under water. Holding up best are $GPC And $VALE. $CAT and $MSFT hobbled.
$JPM not too bad… since I sold half, the position has only a small max loss… I may keep this second half past Friday morning earnings in case we get a gap open.
VXX Game
#VXXgame I was early on this but sold $UVXY March 75 call for 7.25, adding to my position.
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 19th 2790/2765 put spreads for 3.25. Offsets the call spread I sold Monday.
REGN holding up
Everything I dumped on Friday is lower now, except $REGN. The only one holding up.
#spxcampaign Bought to close my…
#spxcampaign Bought to close my Oct 19th 2760 2740 BuPS @ 1.50. Opened at .90.
New lows
$SPX just exceeded Monday’s low, but VIX is a full point lower than Monday’s high.
WYNN…
10/9….BTC WYNN 12 OCT 18 130 Calls @.04….STO 10/4 @1.42….Selling against Jan 2021 125 Calls needing $0.25 per week to cover so off to a good start..
10/9…STO 19 OCT 18 125 Calls @.94
Thankyou @fuzzballl for the idea… #fuzzy #leaps
Today, IYT broke 200.
Trouble indeed.
What does that mean for the bulls?
Should IYT fail to close above 200.20 by Friday, it will be the first failure of the 17-week exponential moving average.
Then, the 50-WMA comes in lower at 192.80.
With Semiconductors (SMH) and Regional Banks (KRE) already below their 50-WMAs, bulls can hope that IYT recovers before it sees its 50-WMA.
Otherwise, the long line of quiet bulls waiting for rebooking, will begin to get very restless.
Especially if there are only 2 buyers trying to hold the market up.
S&P 500 (SPY) Closed just under 287.70 the very pivotal 50 DMA, which puts this in an unconfirmed warning phase
Russell 2000 (IWM) 159.42 is the 50-WMA-if breaks, expect to see weakness and fear. What will save this? It starts with a move back over 164.
Dow (DIA) 259.50 is the underlying 50-DMA support.
Nasdaq (QQQ) Looking more like a double top unless it can clear and close over the 50 DMA or around 182.30
KRE (Regional Banks) Inside day. Lots of bank earnings this week-watch 61 for resistance and it must hold 58.28
SMH (Semiconductors) Inside day above 100. If that breaks, I think much lower. If can get over 102.23, a bit better
IYT (Transportation) See commentary
IBB (Biotechnology) 115 pivotal support, then 112. 118 now resistance
XRT (Retail) 47.75 the 200 DMA
BA Bull Call / ARNC Bull Put / SOXL Put
#longcalls
$BA BTO 11/23 385/395 BUCS at 4.62
#shortputs
$ARNC STO 11/16 19/24 BUPS at 1.75
$SOXL STO 12/21 90 put at 3.51 Thank you @fuzzballl
+Vega short put spread
STO SPX 11/23/18 2700 Puts
BTO SPX 11/23/18 2680 Puts
BTO SPX 11/23/18 1400 Puts
1.35 credit
BA
BTO October 26, 360/370 bull call spread @ 8.05
BABA, STO November 16, 180 calls @ .52
REGN
#SyntheticStock – This is the last of my old positions that’s been stuck in limbo. It’s synthetic stock out to 2020 but weekly short calls have been buried DITM for weeks with no relief in site. The position needed a yuuuge move one way or the other and it hasn’t happened. It still could but I’m wasting time waiting. Doing an extreme repair trade here but also improving my cash position and allowing the weeklies to be sold again.
Closed the 400/400/390 synthetic taking an 11.15 loss
Closed the ITM short calls and rolled them….
Rolled them to a Jan 2021 ITM bull put spread for 4.85 debit.
So what now?
I can resume safely selling weekly calls against the position. The BuPS uses zero cash and just a small amount of margin but I’m also giving up any chance of huge profits (or losses!). Strictly a repair trade so as I sell weeklies and book them I plan on using that cash to gradually roll the wings of the BuPS in. At some point I hope to have it pretty narrow and be able to get out at a scratch.
Of course I still would like to see the stock go up but a drop isn’t the end of the world since it’s all defined risk.
I’ll calculate the final numbers tonight to see exactly where I stand but that’s the basic plan.
So:
Sold REGN OCT 19 2018 415.0 Calls @ 1.65
With 5 wide strikes on the bottom end of the BuPS I should be able to move those up one strike with each successful weekly sale.
SOXL
STO December 90 puts @ 3.60, I did not catch this one yesterday when the premiums were higher.
#shortstraddle EWZ TastyTrade follow, sold…
#shortstraddle EWZ PBR
TastyTrade follows, sold Nov. 40 straddle for 4.23, Nov. 9 PBR 16 straddle for 2.44.
TRADES: ITM PUT
ESPR STO 10/19/18 45.0 PUT @3.30 Stock was at 46.0. I also hold the 45.0 short call so this turns into a straddle. The 45.0 Call is covered.
FYI BZQ ETF Dec21 $30…
FYI
BZQ ETF Dec21 $30 PUT
premium is about 1.60
All time low for this ETF was $32
Any thoughts?
#earnings #shortstraddle FAST Sold Nov….
#earnings #shortstraddle FAST
Sold Nov. 16 57.70 straddle for 5.10.
XBI
#LongCalls #LEAPS – Adding another long scaling in to reduce basis…
Bought XBI JAN 17 2020 97.0 Call @ 7.40
First buy was at 11.25 and added a couple times since then. Along with weekly sales basis is already down to 8.23 in one month…
Adding to VFC
#PreEarnings Bought phase 2 of $VFC Oct 26th 95 calls for 1.40. Started yesterday at 1.00.
PYPL
#LongCalls #LEAPS – Closed and sold new…
Bought to Close PYPL OCT 12 2018 85.0 Calls @ .03 (sold for .51)
Sold PYPL OCT 19 2018 85.0 Calls @ .65
LABU
#LongCalls #LEAPS – Let’s see if she can bounce….selling at the expected move.
Sold LABU NOV 9 2018 90.0 Call @ 1.70
Sold LABU NOV 9 2018 90.0 Call @ 1.75
AMBA
#LongCalls #LEAPS – Plugging away…
Bought to Close AMBA OCT 12 2018 38.5 Calls @ .05 (sold for .60)
Sold AMBA NOV 2 2018 38.0 Calls @ .50
Basis now reduced from 7.45 to 3.38 on a 2020 LEAPS position…
TRADES:
AMD BTO STOCK @27.37
ESPR BTO STOCK @44.0 To cover 10/19 Short calls.
ESPR STO 10/19/18 35.0 PUTS @1.25 An add. Delta .17, Support @42.0 & 38.0
TLT
#PerpetualRollingStrangles – Taking off a third of my triple size sales against the put side…
Bought to Close TLT OCT 26 2018 119.0 Calls @ .03 (sold for .40)
#spxcampaign Sold to open Oct…
#spxcampaign Sold to open Oct 19th weekly 2760 / 2740 BuPS for .90 when SPX pulled back to 2884. I’m not so sure this was a good idea and didn’t get the order cancelled before it filled.
#Coveredcalls NUGT Sold Oct 19th…
#Coveredcalls NUGT Sold Oct 19th 14 Calls @ .25 when NUGT hit 12.78
GPC long calls
#PreEarnings Bought to open $GPC Oct 19th 100 calls for 1.75. Starter position.
#spxcampaign Sold to open Oct…
#spxcampaign Sold to open Oct 19th weekly 2940/2960 @ 1.65 with SPX at 2883. I’m going to allow this to work without a hard stop loss returning to Jeff’s method for another go.
Fellow TT ‘ers – Cherry Picks, Earnings Report
https://tinyurl.com/yazxha3y
BA Earnings
#earnings
$BA STO 10/26 360/370 BUPS at 1.90. Earnings are 10/24 before market opens. I’d like to be out before earnings
#spxcampaign
$SPX STO 10/19 2960/2935 at 2.70 Thank you @jeffcp66
#shortstock BOX #shortputspread Tim Knight…
#shortstock BOX #shortputspread
Tim Knight rec-sold short 100 shares of BOX at 19.93
SMH sold Nov. 16 91/96 put spread for .83
DE closed Tradewise recommendation call spreads for .46, sold for .75
#OT
Just remember, the bond market opens tomorrow and if rates are higher this may be only a dead cat bounce.
VALE pre-earnings
#PreEarnings Bought to Open $VALE Oct 26th 15.5 calls for .50, following @kathycon. Thanks!
SOXL
#ShortPuts – Adding one Dec to go with Nov and Feb positions…
Sold SOXL Dec 21 2018 90.0 Put @ 4.10
PYPL
#LongCalls #LEAPS – Weekly hedges just about out of juice and earnings next week. I’d prefer a bounce before selling anything but just in case throwing on a 30 percent size sale for next week anyway. I’ll add a little more if we get a bounce into the announcement.
Sold PYPL OCT 19 2018 85.0 Calls @ .77
AZO EWZ GLD OLED SMH WYNN XBI
#LongCalls #LEAPS – Overall a crummy day but the volatility is making rolling easier. Booked a couple of winners as well. Keeping all new sales prior to any earnings…
AZO:
Rolled AZO OCT 19 2018 720.0 Call to NOV 2 2018 722.5 Call @ .20 credit
EWZ:
Rolled EWZ OCT 26 2018 35.0 Calls to NOV 9 2018 35.5 Calls @ .02 credit
GLD:
Adding with stops set on nearly worthless current weekly sales.
Sold GLD NOV 9 2018 115.0 Calls @ .58
OLED:
Adding…selling against longer tern bull put spreads.
Sold OLED OCT 26 2018 130.0 Call @ 1.30
SMH:
Bought to Close SMH OCT 12 2018 108.0 Calls @ .02 (sold for .85)
Sold SMH NOV 9 2018 106.0 Calls @ .97
WYNN:
Bought to Close WYNN OCT 12 2018 130.0 Calls @ .05 (sold for 1.48)
Sold WYNN OCT 19 2018 123.0 Calls @ 1.07
XBI:
Sold XBI NOV 9 2018 94.0 Calls @ 1.14
Pre-earnings trades
Added to CAT, LMT, MSFT, SWK
Opened first layer of GPC, VALE
XBI
A TRADE:
AMD STO 10/19/18 27.0 CALLS @.52 I’m up 66% on my 28.0 call trade that I did this morning, so I thought I’d double dip.
ANET Jan
Sold $ANET Jan 18 2019 185 puts @ 3.00 with the stock at 241.28
ISRG Jan
Sold $ISRG Jan 18 2019 430 put @ 7.50
ANOTHER:
ESPR STO 10/19/18 45.0 CALL @4.00. Will cover if necessary.
A TRADE:
ESPR STO 10/19/18 50.0 CALLS @2.25
Killing me SOFTly
#PreEarnings All of my long pre-earnings trades are sinking, but it gives me the chance to add my final leg to $MSFT:
BTO $MSFT Oct 26th 116 calls for .88. Avg price of full position: 1.17.
MSFT has not confirmed earnings date, but the expectation is Oct 25th.
Options Bistro 