#Stairstep STO Sep 50 puts @ .75 x10, BTO 62.5/60 put debit spread @1.10 x 1, BTO 57.5/55 put debit spread @.69 x2.
Break even 48.75, which is getting close to 34% downside with no upside risk.
Important note on these trades: The breakeven is very far away, but on a significant down move there are short term losses that require duration in the trade for theta to overcome. As price drops, the “stairstep” profit levels go up.
Category Archives: Uncategorized
AMBA
#LongCalls #LEAPS – Another week…this thing looks like it’s ready to head back up.
Bought to Close AMBA AUG 3 2018 40.5 Calls @ .05
Sold AMBA AUG 17 2018 40.0 Calls @ .75
EXAS Jan puts
Sold $EXAS Jan 18 2019 35 puts @ 1.45
TQQQ
@ShortPuts – Just filled on this…
Bought to Close TQQQ JAN 18 2019 20.00 Puts @ .20 (sold for 1.57)
And right at the open in a small account that I’m going to get a little more aggressive in:
Sold TQQQ SEP 21 2018 60.0 Put @ 3.90
Sold TQQQ SEP 21 2018 55.0 Put @ 2.35
Sold TQQQ SEP 21 2018 48.33 Put @ 1.15
TSLA
#Earnings – I was early figuring this move would get sold but I’ll take it…
Sold to Close 325/335/345 Call Butterfly @ 2.35 (bought for .64)
.58 loss on the put butterfly so net gain of 1.13….just a little over 100 percent. Same position is sitting at 3.16 right now. No regrets!
$MamaCash Are you sill holding…
$MamaCash
Are you sill holding Supercharger NVDA for 08/17. I’m holding the 240/245 which I bought for 3.35. It just never seems to move into profit! Or am I missing something?
#fallingknife EXAS is down 16%…
AAPL
Apple just past into a trillion dollar market valuation…”a billion here, a billion there, etc.”
#fallingknife TRIP is down 14%…
#fallingknife
TRIP is down 14%
Good premium in Jan for $39 and $40
X is down 10%
#pietrades and #fuzzies MU 2020…
#pietrades and #fuzzies
MU 2020 55/55 calendar rolled out to 15 DTE and down to 53.5 for 0.71 credit. Cost basis now 12.62
WDC assigned on 7 contracts 75 puts at 73.71 cost basis. I am sure the other 3 will assign so sold 10, 8 DTE 69.5 cc at 0.93 dropping cost basis to 72.78.
I can see both of these are reversing already so will end up adjusting.
TQQQ 60 cc rolled out to next week for 0.9 credit. Cost basis now 57.79 batch 1
TQQQ 59 CC rolled to next week for 0.7 credit. Cb now 57.25 batch 2
AMAT 47 cc rolled out next week for 0.41 credit. cb now 49.76 on batch 1
AMAT 47 cc rolled out next week for 0.35 credit. Cb now 46.64 on batch 2. Will let this one call out if ITM next week and this batch repaired from earnings after 5 weeks. However, this is a small account and I think I can do better with a #fuzzy.
Seems like 5 out of my last 8 earnings trades all went bad. Maybe time to reconsider earnings trades, at least as a #pietrade. Probably better to skip that week then re-establish the week after.
Also the triple ETFs have been easier to manage. Not saying lower risk, but easier to manage. The extra premiums allow you to roll easier, move strikes ITM, OTM, or ATM and still take in good credits. The higher premiums create more opportunities.
From an income standpoint #pietrades make the most income but on a percentage basis the #fuzzies are doing better. Also better for smaller accounts.
So what does this mean, see below for the 45-22 DTE ladders for #pietrades. Small accounts will use spreads and #fuzzy, and #supercharger.
Have officially made back 33% of the SVXY losses. 3 accounts have fully recovered but 2 accounts have a long way to go. Having to be more conservative with those accounts as well because they are small/tiny now and another loss would wipe them out so the other reason I am looking at longer duration trades.
UVXY call spread
Continuing to work on my SVXY losses.
Sold $UVXY Sep 14 (weekly) 12/15 call spread @ .37
WYNN
STO January 110 puts @1.60
SIVB,CVS
STO SIVB September 300 puts @7.20
STO CVS January 2019, 50 puts @.70 cents
WYNN took advantage of the…
WYNN
took advantage of the drop and STO Jun21’19 80 put for .93
More TT research confirming 45…
More TT research confirming 45 DTE is ideal for selling OTM options but with a twist. Closing at 22 DTE showed the best results. They also looked at other expirations and different management times.
https://tastytrade.com/tt/shows/market-measures/episodes/managing-earlier-varying-durations-07-17-2018
Quicker than usual for them, under 10 minutes.
I may migrate some of the #pietrades and TT work into one hybrid trading plan. #pietrade ladders started farther out but managed quicker, usually only 23 days. Will start a new experiment.
RRGB,WYNN
I was looking at selling puts on this one but I think I will pass on this one. There are plenty of other burger joints to look at. I will be looking at WYNN though.
Good morning
It is going to be fun today.
Short Puts TNDM / Short Calls TRTN
#shortputs
$TNDM STO 8/17 30 puts at 3.oo
$TNDM STO 8/17 28 puts at 2.65
#shortcalls
$TRTN STO 8/17 35 calls at 1.60 Continuation of an @thomberg1201 trade. Thank you.
#earnings #shortstraddle X sold Aug….
#earnings #shortstraddle X
sold Aug. 17, 35 straddle for 3.26, TT follow.
Good luck with TSLA everyone, I’ll be back Tuesday.
TSLA
STO BWBF Aug 3 322.5/325.0/332.5 .64 Cr
TT Trade #Earnings
#pietrade conversion to #fuzzy MU…
#pietrade conversion to #fuzzy
MU sold stock for 52.61 against cost basis of 55.33 for 2.72 per share loss. Took the proceeds and bought a 55 2020 call to create a LEAP calendar. Frees up 40k in cash/margin for other trades.
Now my new cost basis adding in the purchase of the leaps at 10.60 is 13.32. Will sell weeklies against it with goal of decreasing cost to zero at some point. Have 75 weeks left (already have short 55 for next week) so that means only need about 0.17 per week to break even. Anything extra is BONUS.
I may do this more often for #pietrades that move a lot and are taking longer than normal to get back to even but I still want to stay in the ticker. MU has good premiums and want to stay in it but did not want to have 1000 shares tying up so much capital.
May do the same with WDC later in the week.
Will keep posted as to how it works out long term.
#fallingknife CAKE is down 13%…
PSX
From Tradewise Volatility Advisory
SELL PSX 31 AUG 18 124/126 BeCS @.67
Question about Butterfly trade. I…
Question about Butterfly trade.
I made a mistake with the strikes when buying a butterfly on TSLA.
I got a DITM Call BTF instead of an OTM Call BTF
August 3rd EXP
CALLS 265/270/275
Total paid $0.23
Is there a risk for holding this trade, other than losing $23?
Is there any benefit for holding this trade?
TOS analyze tab is showing strange numbers.
I tried to close the trade, but no takers so far.
amzn
Sold to open, August 10, 1670/1680 bull put spread at .70 cents.
Hey
I’m still here…just been a crazy week outside the market so far. Nothing much to do anyway…just letting weeklies wind down for the next sales.
Have a great week!
#earnings TSLA Anybody rolling the…
#earnings TSLA
Anybody rolling the dice?
#shortstrangles TWTR Followed from Tastytrade…
#shortstrangles TWTR
Followed from Tastytrade September 21 29/36 for 1.63
#fallingknife #shortputspread IPGP It’s not…
#fallingknife #shortputspread IPGP
It’s not falling today but sold Sept. 21 145/155 for 1.23, currently at 174, was at 240 a couple days ago.
HBI Jan puts
Sold $HBI Jan 18 2019 16 puts @ .50
Anyone noticed TOS freezes for…
Anyone noticed TOS freezes for 5-15 seconds, it started yesterday and today?
Good Morning all
Good Morning all
Good night from Kyoto
This is the first time on this trip I’m still awake for the open.
Sold to close $AET Aug 3rd 190 calls for 1.00. Bought for 1.50, #PreEarnings.
BTC $MU Aug 3rd 55 call for .10. Sold for .80 last week. Looking to replace. #PieTrades
#Earnings:
Sold to Open $SQ 71 calls for .78. Order in to sell the 60 puts. Calls are covered, some with stock, some synthetically with long LEAPs.
Sold $TSLA Aug 3rd 260 puts for 2.75. Looking to sell 330 calls for 2.25 on the bounce.
AMZN
Sold to open, August 10, 1910/1930 bear call spread at .55 cents, adding to my small position.
#pietrade Late post, too busy…
Late post, too busy yesterday and nearly everyday. Work is decreasing my trading profits. s
MU rolled the 55 cc that expires Friday out a week for 0.44 credit. Cost basis now 55.79. 2 more weeks should break even then can decide whether to keep rolling for profits or reset.
I may convert this and WDC when assigned to #fuzzies to free up margin for other #pietrades
Good morning from Hiroshima
#Earnings. Only trades this week… placed orders in premarket and was filled… didn’t get best prices of the day by any means!
Monday: Sold $SHOP Aug 3rd 140 puts for 1.40.
Tuesday: Sold $AAPL Aug 3rd 177.5/200 strangles, .75 each side (1.50 total). Calls are covered.
RTN
STO Aug 31 195/192.50 BuPS .80
a WIZ trade
#fallingknife #shortputs VRNS VRNS is…
#fallingknife #shortputs VRNS
VRNS is down 16%, 12 points, to just under 60. Sold Dec. 50 put for 2.05.
Taking some profits
Bought to close:
$JCI Oct 19 31 puts @ .19. Sold for 1.10 on 3/14.
$SWK Oct 19 115 puts @ .35. Sold for 1.35 on 4/20.
$SWK Oct 19 110 puts @ .30. Sold for 1.25 on 5/4.
$UPS Oct 19 80 put @ .03. Sold for 1.40 on 3/23.
$DIS Sep 21 90 puts @ .11. Sold for 1.48 on 5/9.
$DIS Oct 19 90 puts @.19. SOld for 1.75 on 5/9.
#earnings #ironcondor AAPL sold September…
#earnings #ironcondor AAPL
sold September 21, 170/175/205/210 for 1.42
TWTR
BTO Aug 17 33/31 BePS .96 #bitty put in order to close for 1.35 GTC
#fallingknife FDP is down 14%
FDP is down 14%
AMZN
In my new TT Account
BTO Aug 10 1740/1742.50 1.85 #supercharger
#fallingknife #shortputspread CMG sold September…
#fallingknife #shortputspread CMG
sold September 21, 370/380 for 1.15
#shortcallspreads CAT closed 145/155 post…
#shortcallspreads CAT
closed 145/155 post earnings spread, made .48, thanks Ramie
FAS
BTC August 3, 69 calls and STC January 2020, 67 calls for a net credit of .25 cents in total. I could have held on but I think I was just using capital. Not all of these trades make money but at least I did not lose any on this one.
#fallingknife VRNS down 23% today
#fallingknife VRNS
down 23% today
PEP
BTC October 85 puts @.05, sold at 1.26
08:24 *US AND CHINA REPORTEDLY…
08:24 *US AND CHINA REPORTEDLY TO MEET TO RESTART TALKS REGARDING TRADE
Good Morning
Good Morning
TQQQ
I am out of all my bullish trades on this ETF. I picked up nice premiums and rolled for better strikes as well. Nice to be in cash right now. About 63% cash and still have a bearish trade on the TQQQ which I am under water on. I think it will be okay as I only need .25 cents per week and the expiration is in January 2019. There are a lot of good traders here and thank all of you for great ideas as well. Now if we could get the TQQQ down to the $40 level I can get back in.
Also, thanks to these trades I have made back 50% of my loss on the SVXY so far.
@fibwizard What is your take…
@fibwizard
What is your take on the market today? I’d love to know what you see on the NDX and SPX charts.
Adding a WDC position
Sold $WDC Jan 18 2019 55 puts @ 1.30.
I’m now short this ladder:
Oct 60 puts
Jan 60 puts
Jan 55 puts
Rolling up BIIB
Wanted to write some puts on this but I’m being a lot more disciplined these days about position size. So I’m just rolling up to a higher strike (13 delta) for a 4.00 credit instead of adding risk.
Bought to close $BIIB Jan 18 2019 220 puts @ 1.20. Sold for 3.70 on 6/18.
Sold to open $BIIB Jan 18 2019 270 puts @ 5.20.
IWM QQQ XLY risk twist
Opened some of DK’s famous risk twist trades. Typically, you put these on when the market is soaring in preparation for a downturn. In my case, I’m adding to the short side based on the downturn already in progress. Maybe too late.:-)
BTO IWM Bfly Sep21 164p/-156p/154p @ 1.61
BTO QQQ bfly Sep21 175/167/165 PUT @1.85
BTO XLY bfly Sep21 109/104/103 PUT @.85
#ShortBrokenFly
WYNN pre-earnings
Sold WYNN Pre-ER Aug3 167.5c @ 2.70 for 4% loss. Bot @ 2.80.
Sold early due to market weakness. Loss is minimal at this point so want to keep it that way. This is the last round of WYNN for me this quarter. Previous rounds 93%, 20%, 10%, and -2%.
#preearnings
Closing PM
Bought to close $PM Sep 21 75 puts @ .28. Sold for 1.70 on 4/19.
#pietrades In 2 separate IRA…
In 2 separate IRA accounts, small size
TQQQ buy writes at 59 and 60 cc for 58.69 and 57.95 debits.
Found an adjustment to these that will help returns. For IRA and other tax deferred account will be doing more buy-writes and straight covered calls, often ATM or a few strikes ITM. Will roll if at or near the money. If deep ITM will let assign and reset the following Monday.
For margin accounts will usually start with a put sale (better margin rates than cc) and then if assigned convert. That little tweak looks like it will be worth several extra percentage points over the course of a year. Also less holding through weekends when harder to adjust trades.
As of now looks like WDC will assign this week at 75 with a cb of 73.71 so will convert to CC next week.
Earnings adjustments
Keeping some upside risk but also adding some risk to the downside.
Sold LRCX Aug17 202.5 calls @ 1.15 against long post-ER 200 calls
Sold NVDA Aug17 277.5 calls @ .97 against long pre-ER 275 calls
Sold GOOGL Aug10 1282.5 calls @ 4.4 against long post-ER 1280 calls
#earnings
#Coveredcalls. Out for the morning….
#Coveredcalls. Out for the morning. Came back to more selling. Closed NUGT 8/03 24 C @ .04, ROKU 8/03 49 C @ 0.13, DBX 8/03 33 C @ .03. All for small profits which off set the DOCU puts below.
#ShortPut Bought to close DOCU 8/17 50 Put @ 2.02. for a 0.87 loss. Violated my Alert on the Puts at 2.00.
TWTR Falling Knife
I’ve never been a huge fan of this stock but now that it’s a member of the S&P 500 I’m gonna take a shot with some far out of the money puts.
Sold to open $TWTR Dec 21 22 puts @ .56-.57. Delta is 10.
Non-directional trades
Buying straddles and strangles in my favorite index/sector ETFs: DIA, FAS, IWM, QQQ, SPY and XLY.
Also only taking non-directional post-ER trades until the turbulence abates.
#strangles
#straddles
Closing CAT
Closing this for a .92 loss. Bought to close $CAT Aug 17 145/155 BeCS @ 3.14. Sold for 2.22 earlier.
AMZN
STO August 10, 1680 puts @ 5.50
BTO August 10, 1670 puts @4.20, converted this to a spread.
#shortputs #closing TRTN June 19,…
#shortputs #closing TRTN
June 19, sold an August 17, 30 put for 1.00, July 11, sold an Aug. 30 put for 1.35, bought them today for .40, earnings this week. I still have Oct. 35 and 40 rolled puts and 101.73 shares.
PYPL Jan
Sold $PYPL Jan 18 2019 67.50 puts @ 1.27 with the stock at 82.77. Delta 13.
TRTN #CoveredCalls STO 2 Oct…
TRTN #CoveredCalls
STO 2 Oct 19 35 covered calls @ 1.75, half position, CB 35.45. Looking for at least one more div distribution. Shares up 8.36% on Barrons positive article that trade war affecting container biz is overstated. Earnings Aug 3 BMO, see which way this goes before placing balance of option contracts.
AMZN Iron condor
STO 1900/1920 calls and STO 1680/1700 puts For a credit od 1.33 for August 3 expiration.
TQQQ
BTC August 3, 63 calls and sold My 2020 60 calls for a credit 15.20, I am still working on the rest of the trade but it will be a nice profit when I close out the rest of the trade.
AMZN put spread
Sold $AMZN Sep 21 1700/1680 BuPS @ 4.50.
Is this sell off being…
Is this sell off being caused by SPX rebalancing???
CAT call spread
$CAT ran into resistance this morning on the move up after earnings. Sold Aug 17 145/155 BeCS for 2.20.
Notable Earnings AM Mon:
AER, BAH, BLMN, CAT, DO, FDC, KMPR, L, LXRX, SPG, STX
Notable Earnings PM Mon:
ACHC, ALSN, ARE, AVB, BRX, CGNX, CHGG, CSLT, FET, FRAC, IDTI, ILMN, KLAC, NTRI, RIG, RMBS, RRC, RXN, SBAC, SCI, SHO, SPWR, TCO, TNDM, TXRH, UDR, UNM, VNO, WRI
Notable Earnings AM Tues:
ADM, AGCO, AME, AMT, APTV, ARNC, BP, CHTR, CMI, COMM, ECL, ERJ, ETN, FIS, HMC, HRS, HUN, I, IGT, INCY, IRDM, JCI, LL, MAS, NTLA, OSK, PFE, PG, RL, SABR, SERV, SHOP, SHPG, SLCA, SNE, SNY, TKR, VMC, VNTR, WDR, WEC, XYL
Notable Earnings PM Tues:
AAPL, ACGL, AKAM, APC, ASH, BIDU, BXP, CAKE, CHRW, DEI, DVN, ENLC, ENLK, ENPH, ES, EXR, FE, FISV, H, HCLP, HOLX, IQ, MB, MDR, MDU, MOH, NBIX, NBR, NFX, OKE, OLN, P, PAYC, QGEN, SKT, STAG, TEX, UIS, VRSK, WLL, ZEN
Notable Earnings AM Wed:
ADP, AMC, AN, AVA, BG, CG, CRTO, CZR, D, DBD, DM, ENR, EPD, ETR, GLPI, GPRE, GRMN, HBI, HPP, HUM, JHG, KLIC, MDCO, MTOR, NI, NNN, PEG, QSR, RACE, RDC, SPR, SSYS, SUM, TAP, TMHC, UNVR, VG
Notable Earnings PM Wed:
ADSW, AGO, ALL, APA, AR, ARRS, AWK, CECO, CENX, CF, CLVS, CNO, CONE, CRUS, CXO, DVA, DXCM, ESIO, EXAS, EXEL, EZPW, FEYE, FMC, FORM, FTNT, GPOR, HCC, HGV, HLF, KRG, KW, LNC, LPI, LSI, MAA, MAC, MET, MRC, MRO, MTDR, NTR, O, PDM, PK, PKI, PPC, PRU, PSA, QRVO, RYN, SGMS, SM, SOI, SQ, TDOC, TMUS, TRIP, TRMB, TROX, TS, TSLA, TTMI, UGI, VOYA, VVV, WMB, WPX, WTI, WYNN, X, XPO, YUMC
Notable Earnings AM Thurs:
ABC, AET, ALNY, AMAG, AMCX, APO, ARES, AROC, BCE, BDX, BLL, BSIG, CBRE, CDW, CHD, CI, CJ, CLX, CNQ, CNSL, CNX, COT, CTSH, DNOW, DOC, DUK, DWDP, EXC, FND, GEO, GIL, GOV, GPN, HCP, HFC, HMHC, ICE, ICPT, INGR, K, MD, MGM, MMP, NRG, PAH, PBF, PCRX, PF, PH, PWR, RCL, REGN, SBH, SEE, SFM, SHLX, SNDR, STOR, SYNH, TEVA, THS, TRP, TVPT, W, WLK, WRK, YUM, ZTS
Notable Earnings PM Thurs:
AIG, AIV, AMH, ANET, APPN, ATH, ATUS, ATVI, BGS, BMRN, BRKR, BRS, CARB, CBS, CC, CERN, CERS, CRC, EEP, ELY, EOG, ERI, FLR, FLT, GDDY, GPRO, HR, HTA, KTOS, LNT, MDRX, MSI, MTZ, NE, NVRO, PODD, REG, RMD, RP, RYAM, SEDG, SEP, SHAK, SRCL, SSNC, SYMC, TDC, TSRO, TTOO, TTWO, TWOU, VICI, WU, XLRN
Notable Earnings AM Fri:
AEE, AXL, BERY, BPL, CBOE, CNP, DISH, EAF, ENB, ESNT, ITT, KHC, LYB, NBL, PNW, RLGY, TDS
Notable Earnings PM Fri:
OHI
Overnight trades
I leave you crazy kids for one day and the Market goes haywire?
I’ve never traded blind before, but it’s working out okay so far. Set up some covered call management before bed. Was woken up by heavy rain (typhoon coming) about 2am (11am Portland time) and made a couple of adjustments.
Sold $FB Aug 17th 190 #CoveredCalls for 2.06 and 192.5 calls for 1.70
Sold $MU Aug 3rd 55 covered call for .80
Rolled $AMAT July 27th 46.5 covered call to Aug 3rd 46.5, .33 credit
Sold $PYPL Aug 17th 91.5 #SyntheticCoveredCall for 1.50. Missed the fill on more.
BTC $GUSH Aug 17th 50 call for .25. Sold for 2.15 awhile back.
#OptionsExpiration
— Expiring —
FB 227.5 & 230 calls
— Assignment —
FB 197.5 and 200 puts
Have a great weekend y’all!
#earnings #ironcondor CAT
Late fill sold Sept. 21 125/130/155/160 for 1.49
Options Bistro 