Sold $CRM Nov 16 135 puts @ 1.50 with the stock at 150.26. Delta is 16. Earnings not estimated until after Nov options expiration.
Category Archives: Uncategorized
TRADES:
ESPR STO 10/19/18 30.0 PUTS @1.00 Price now 44’ish
AMD STO 10/19/18 28.0 CALLS @.48
TQQQ
#ShortPuts #IRA – Adding to my ladder in Dec…
Sold TQQQ DEC 21 2018 55.0 Put @ 3.30
Sold TQQQ DEC 21 2018 50.0 Put @ 2.30
SPX calls sold
#SPXcampaign Sold to Open $SPX Oct 19th (Friday PM) 2935/2960 call spreads for 2.90. For a move further down in the next few days, or at least weakness that I can close by end of this week. I’ll look to see a put side on any deep dip.
#shortstrangles #earnings #closing ROKU Way…
#shortstrangles #earnings #closing ROKU
Way back on August 29 I sold an October 19, 50/70 earnings strangle for 2.19. ROKU climbed to 77 last week, has come back to earth, bought today for 1.72, a little luck always helps.
BOILing over
#ContangoETFs At the bell, filled on my next $BOIL Jan 45 call for 3.00. Put in my next for 3.75
UVXY
#VXXGame new higher strikes added in most expiries.
Econ Calendar for week of 10/8/18
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated.
/CL
Rolled the 67 DTE 63.5 put down to 58 for 0.40 debit.
I know we usually roll the untested side, but I am widening the strangle out so I can stay in it longer.
Trades
#spxcampaign
Closed Early
$SPX BTC 10/12 2985/2860 BECS at .30 STO at 2.06 as IC. BUPS portion still open
#shortputs
$CMG STO 11/16 420/430 BUPS at 3.35
$COST BTC 10/5 225/232.5 BUPS at 5.98 STO at 1.60 Not a good earnings trade
$FB Rolled 10/5 160/180 BUPS to 11/16 160/180 BUPS for 5.43 debit. Second roll. Trade now guaranteed to lose money, but overall loss can be attenuated if FB gets a smile on its face.
#longcalls
$AMZN 10/19 1880/1890 BUCS at 7.10 Thanks @jeffcp66 Earnings coming up. Thesis is a positive run.
#OT Pattern Day Trader in…
#OT Pattern Day Trader
in a small account, I followed MamaCash on a LopHir and got flagged by IAB for too many day-trades. They count LopHir as two day-trades! Same for an Iron Condor, if you opened a spread it is one day-trade. Didn’t think of it as Tastyworks counts it as a single trade. I called and got already reset, but that makes things very complicated. Are the other brokers interpreting the rule as IAB does?
Downside Warning
#VIXindicator A downside warning is enacted today, since we closed at over 25% of Wednesday’s close (2-day closing low).
This new Warning resets VIX levels. The Warning would be canceled with a new SPX high above 2,940.91, or a close of the VIX of 12.44 or lower, with three consecutive closes leading to an Upside Warning.
Happy weekend to all!
Let’s meet here on Monday for a Traders Anonymous recovery meeting. lol.
MU expires
#LongCalls My shot at a long trade didn’t pan out. This is why I never used to buy options; too hard to determine when to close. Could have taken only a small loss had I sold at the right times Monday, Tuesday, or Wednesday! How many times does the market have to tell me before I’ll make the move?
Expired: $MU Oct 5th 45 long calls, bought for 2.02 on Sep 14th.
#optionsexpiration Afternoon. Just a couple…
#optionsexpiration
Afternoon. Just a couple expiring.
NUGT 10/5 14.5 Calls sold @ 0.47
MU 10/5 47.5 Calls Sold @ 0.32
A TRADE:
TNDM BTO STOCK @36.78
WTW
#CoveredCalls – Right down to the wire. Took the stock with a basis near 80 but aggressive weekly selling has kept the position at near even all the way down.
Bought to Close WTW OCT 5 2018 68.0 Calls @ .39 (sold for 3.23)
Sold WTW OCT 12 2018 68.0 Calls @ 1.89
That’s it for my week. Have a great weekend everyone!
Expirations
BABA, 185 calls
LABU, 115 calls
I am off to the gym so have a nice weekend to everyone.
CAT
Added 2nd layer of CAT 10/26 165 calls @.96 to position opened yesterday. Thanks @MamaCash
PVTL covered calls
#CoveredCalls Sold to Open $PVTL Oct 19th 20 calls for .45.
#OT
Over on SMM, someone posted that Gartman turned bullish 3 days ago. What an indicator?
PYPL
#LongCalls #LEAPS – Double selling the weeklies here also. Stops set on previous positions at 50-75 percent of max gain. Adding again prior to earnings and selling up in congestion.
Sold PYPL OCT 12 2018 85.0 Calls @ .51
TLT
#PerpetualRollingStrangles – On the last pop in TLT I bought a bunch of disaster puts to help out with the DITM short puts. I’m rolling them down a couple strikes to insure a double on the position but leaving the rest on for a free shot at more downside. Was tempted to close it all for a 5 bagger but prefer leaving some protection on.
Rolled 20 TLT NOV 16 2018 110.0 Puts to NOV 16 2018 108.0 Puts @ .33 credit (bought for .15)
SOME TRADES:
ROKU STO 10/12/18 69.0 CALLS @.94
ROKU STO 10/12/18 70.0 CALLS @1.00
TNDM STO 10/12/18 38.8 CALLS @1.05
#spxcampaign #ironcondor Afternoon all. Popping…
#spxcampaign #ironcondor Afternoon all. Popping in here to check up on the day. All three of the call sides of my IC’s were closed. SPX Oct 15th 2985/3005 and SPX Oct 17th 3020/3000 @ .20. AMZN Oct 19th 2160/2180 @ .30. These offset some of the losses from the Put sides taken yesterday.
CAT LMT MSFT SWK
Added second layer for pre-earnings on this pullback (or should we call it a correction). Parameters for my trades in the spreadsheet if you’re interested.
#pre-earnings
UVXY
#BearCallSpreads – Added to yesterday’s starter…
Sold UVXY NOV 2 2018 45.0/55.0 Bear Call Spreads @ 1.92
NFLX, AMZN
Closed both NFLX and AMZN #superchargers
STC NFLX 12 OCT 357.5/362.5 BuCS @1.65. BTO 9/28 @3.95
STC AMZN 19 OCT 1920/1925 BuCS @1.94. BTO 9/28 @3.96
Adding to MSFT
#PreEarnings Bought to open $MSFT Oct 26th 116 call for 1.15, adding to the position started yesterday.
VFC pre-earnings
VFC confirmed ER today so adding a small position for the 14/1 setup.
Bot VFC Oct26 95c @ 1.15 x2 (first of four possible layers)
SuperChargers stopped
#SuperCharger STC $REGN Oct 26th 380/390 BuCS for 5.57. Bought for 7.35 on Tuesday.
STC $AMZN Oct 19th 1880/18890 BuCS for 5.00. Bought for 7.25 yesterday.
I’ll look to add these or others back when it appears a bottom is in.
New VIX highs
Intraday levels highest since late June.
Downside Warning in effect if we close at 14.52 or higher.
Closing IWM
Bought to close $IWM Nov 16 170/180 BeCS @ .63. Sold for 1.71 on 10/1.
SQ long calls sold
#LongCalls A bright spot, sold $SQ Jan 2019 60 calls for 35.25. Bought for 3.51 average price between last November and January. My attempts at short term diagonals ended up being a loss overall since this stock had such wild swings and blew through my calls a few times. So cost basis is actually increased to around 5.50.
Liquidate!
Had a come to Jesus moment at about 2 in the morning. I realized I needed to consider dumping a lot of positions. My account size has not budged much in the last couple months… money I’ve made in options has been sucked away by too many crappy stock positions. Other than AAPL and SQ, stock has not been good to me, all #PieTrades I have tried, rather Earnings repair or from scratch, have been huge dogs.
So I just dumped almost all stock positions.
Winners: $AAPL, $SQ
Losers: $FB, $BABA, $OLED, $MU, $OLED, $YY, $AMAT
Fortunately, other than $FB, the losers were all only 100 shares. AAPL and SQ were both 200. My FB losses were minimal since I have sold covered calls for a year on 100 shares, getting that lot down to 105.00 cost average. I then had more shares added in August earnings dump.
Now I can focus on strategies that I have more control over, rather than the whims of stock prices.
I’m still in options positions in $BOIL, $GUSH, $DUST. Also long calls in $PYPL (Jan 100’s, not doing well). Sticking with pre-earnings trades in $CAT, $JPM, and $MSFT. Long stock in $PVTL, since its so cheap. And a few #VXXGame short calls, and my long running long puts, the $VXX Jan 20 puts, which have lost so much potential in this volatile year.
Dumped underwater short puts in $RH. That symbol has simply killed me, I must quit it!
Also, closed $SPX Oct 12th 2825/2850/2960/2985 condor for breakeven at 4.15.
I’m looking to exit the #SuperChargers since short strikes have been breached, in $AMZN and $REGN.
AMZN
STO October 19, 1580/1600 bull put spread @.55
STO October 26, 1580/1600 bull put spread @ 1.27
If they get down here I will keep rolling, rolling, rolling.
TLT
#PerpetualRollingStrangles – Triple selling these against the DITM puts. Last two batches of short calls are very profitable with stops set so adding another.
Sold TLT NOV 9 2018 116.5 Calls @ .47
Addtacat
#PreEarnings Bought $CAT Oct 26th 165 calls for 1.20, adding to the position started yesterday.
LABU
STO October 19, 92.5 calls @ .80 cents. These will replace the 115 calls that expire today. I have covered 28% of my cost of the 115 calls in 2020 and have 65 more weeks to go.
September Jobs Report
#Jobs Lower than expected, but previous months boosted higher, and unemployment reaches historic lows.
+134,000 non-farm payroll jobs, vs. 180K expected
Unemployment falls to 3.7%, down 0.2%, lowest since 1959
U6 unemployment at 7.5%, up by 0.1
Wages up 0.2%, 2.8% year over year, 0.1 lower than August
Labor force participation 62.7%, no change
July increased 147K to 165K
August increased 201K to 270K
Good Morning
Good Morning
Calls closed
#CoveredCallCampaign
BTC $FB Oct 12th 172.5 call for .14. Sold for 1.20 on 9/20
BTC $FB Oct 19th 172.5 call for .40. Sold for 2.00 on 9/26
Earlier in the day:
Stopped $AAPL Oct 26th 232.5 call for 4.50. Sold 220/232.5 #StrangleRoll for 4.76 on 10/1
#StrangleRoll Sold Oct 26th 222.5/235 strangle for 5.01
Joining the TQQQ Queue
#SyntheticCoveredCalls #LongLEAPs
Bought $TQQQ Jan 2020 66.67 call for 17.60. Plan to sell calls against it.
XBI
#LongCalls #LEAPS – And finally….adding, booking, and selling.
Bought XBI JAN 17 2020 97.0 Call @ 8.35 (adding)
Bought to Close XBI OCT 12 2018 97.0 Calls @ .05 (sold for 1.07)
Sold XBI NOV 2 2018 95.0 Calls @ 1.10 (half ratio)
Perspective
Today could be the first 1% drop for the S&P 500 in 70 trading sessions.
That might feel bad, but remember 4 years ago this month there was a legit fear that ebola was going to spread over the globe.
The SPX is up 55% since those October '14 lows.
— Ryan Detrick, CMT (@RyanDetrick) October 4, 2018
TQQQ
I see support around the 200 day MA which is around 58. I intend to add to my position by buying the 2021 calls but am not sure which strike price yet.
LABU
#LongCalls #LEAPS – My biggest loser today. Got caught a little under ratio’d so need to get some more sales. Giving it plenty of room. I’ll be looking to add to the #LEAPS on another big down day.
Sold LABU NOV 2 2018 95.0 Calls @ 1.35
AMBA
#LongCalls #LEAPS – Same as AMAT. Current batch profitable so adding new above resistance. I’m banking on the volatility expansion also helping call premium and the overhead resistance to slow down any major rally.
Sold AMBA OCT 26 2018 39.5 Calls @ .55
AMAT
#LongCalls #LEAPS – Ratio’d and laddered.
Bought to Close AMAT OCT 19 2018 43.0 Calls @ .05 (sold for .41)
Another batch the following week are about 50 percent profitable so I can stop those out at even if it rallies. Selling another batch the week after. Should all be prior to earnings.
Sold AMAT NOV 2 2018 40.0 Calls @ .53
UVXY
#BearCallSpreads – Selling a few more…
Sold UVXY NOV 2 2018 45.0/55.0 Bear Call Spreads @ 1.22
What the heck?
I sell a couple little UVXY call spreads and go work for a few hours and the world comes to an end….oops! Just getting the computer turned on now.
#shortstrangles #closing SMH Sept. 20,…
#shortstrangles #closing SMH
Sept. 20, sold Nov. 16, 98/113 strangle for 2.53, bought today for 1.98.
Stopped out
#CoveredCallCampaign
Strikes breached so stopping out. I will wait to consider rolls tomorrow. The bottom could be in at any second here, but since it looks like we’re entering a Downside Warning, I have to be ready for more downside in the coming days.
BTC $SQ Oct 26th 94 puts for 4.65. Sold in 94/105 #StrangleRoll for 5.50 on Friday. Will leave the 105 calls in place.
BTC $FB Oct 19th 157.5 puts for 3.90. Sold for 2.30 on Tuesday.
#ratiostrangles EWZ Nov. 16, sold…
#ratiostrangles EWZ
Nov. 16, sold 2, 30 puts and 1, 40 call for 2.32. If it goes to 40, I’d be happy having been put 100 shares a few months ago.
AMZN put spread
$AMZN Oct 19 1820/1810 BuPS @ 2.05
Sold in 2 IRA accounts
#spxcampaign Stopped out of my…
#spxcampaign Stopped out of my Oct 15th 2850 / 2830 BuPS at 3.35. Tiz a spanking day.
A Soft spot
#PreEarnings Bought to Open $MSFT Oct 26th 116 calls for 1.40, starter position.
A (very) quick aside…
#OffTopic I was pretty sure they had that wrong…
#shortputs STO LABU Jan18’19 55…
STO LABU Jan18’19 55 PUT $3.20
TSLA stopped
#Earnings repair Stopped $TSLA Oct 12th 285 put for 11.95. Sold for 4.15 on Tuesday.
Flat in TSLA. My earnings repair has done well after being whipsawed in August; reduced my losses by more than half. But the last week has been another whipsaw, with the wins being canceled by losses, so I’m taking a break. Margins are jacked up on this one anyway.
VIX stops being boring
#VIXIndicator… new highs today, 15.19 highest since Sep 10th. If we close the day above 14.51, it will be a new Downside Warning. This just one day after the lowest close since August 9th.
UVXY sold
#VXXGame Sold to Open $UVXY Jan 2019 70 calls for 4.25. Filled on the way up, not the top.
#BuPS Stopped out of my…
#BuPS Stopped out of my AMZN BuPS @ 5.55
TQQQ pietrade
LMT pre-earnings… again
Bot LMT Oct26 362.5 call @ 2.15. First of five possible layers.
#preearnings
GOOGL
BTO Oct 19 1160/1162.50 BuCS $1.70 #supercharger
STC GTC 2.40
AMZN supercharger
Bot AMZN Oct19 1840/1850 CDS @ 7.75. GTC order to close @ 9.40. Inspired by Jeff. Thanks @jeffcp66
MSFT pre-earnings
Bot MSFT Oct 26 116c @ 1.67 x3 (first layer half size). This trade is based on a 100% win rate for the 21/1 setup. ER hasn’t been confirmed but the bloated vol in the Oct26 expiration is a good indication that they’ll report that week.
WYNN trades
Rolled short Oct 19 140 puts out to Nov 16 140 puts for 2.10 credit. Position was originally rolled to Oct from Sep. Total premium now 5.65. Basis 134.35.
I also added a ladder rung. Sold Jan 18 100 put @ 2.00.
AMZN #BuPS I decided to…
AMZN #BuPS I decided to re-enter my Oct 19th 2860 / 2840 BuPS now that AMZN has pulled back to the 50dma. Filled at 4.55 when AMZN hit 1924.16. I was filled quickly so a little more price discovery was in order. Stops are .30 and 6.50
#coveredcalls Legged into Bought ERX…
#coveredcalls Legged into Bought ERX @ 39.80. Sold Oct 19th 41 Call @ 1.10 when ERX hit 40.19
Copy CAT
#Pre-Earnings Bought to open $CAT Oct 26th 165 calls for 1.80. Starter position, following MamaCash. Will add up to two more lots.
VIX short
STO VIX Nov 20/30 call credit spread @ .60 on today’s spike. Selling against longer-dated VIX longs per my strat. @fuzzballl I know I owe you the details for this strategy. Sadly, it’s a black box trade. If I tell you the secret, I will have to (blank) you. Didn’t want to fill in the blank for fear of being censored. lol.
JPM, half closed
#PreEarnings Put in my order near the highs but then the flush came. Closed half my position.
Sold to close $JPM Oct 12th 116 calls for 1.43. Avg purchase price .83
#shortputs SPXL Sold Oct 19th…
#shortputs SPXL Sold Oct 19th 52 Put @ .70. The strike is near the 50dma.
Options Bistro 