#LongCalls #LEAPS – A slow end to the week. Rolled most stuff earlier. One little trade…
Bought to Close OLED JUN 8 2018 100.0 Calls @ .05 (sold for 1.00)
Sold OLED JUN 15 2018 99.5 Calls @ 1.20
On a side note…played golf last Friday and cost myself 4 figures in my TSLA roll. Out on a weekend motorcycle ride starting yesterday and just missed selling EWZ 35 and 40 ITM puts for the inevitable recovery. I still refuse to watch the market every day…but I might start! LOL
Happy weekend!
#coveredcallcampaign PBR PFE #fuzzy MCD
TT idea, bought July 10 covered call for 8.90. stock 9.44, call .54
Tradewise covered call, I was called away a couple months ago, was a good thing, getting back in, 36.63 for the stock, .50 for the July, 37 call, 36.13
MCD, rolled June 15, 167 to July 20 170 for .20. I have long Sept. 160 call, short 160 put and long 155 put.
AMZN IC 2x Expire
NFLX IC Expire
#Earnings #Rolling
BTC $YY June 8th 115 put for 5.25. Sold for 1.80 on Tuesday
Sold YY July 6th 110 put for 5.50. Moved down 5 points and got an extra .25.
Glad I wasn’t paying much attention on Tuesday or I probably would have sold more than one. I also got filled on a 110 for .85, trying to see if I can let that one expire.
Light day, rolled most of everything early in the week.
GM assigned yesterday at 37.5 CC. Cost basis was 37.72 but will take the small loss just to get out. $321 loss but was down 4 k at one point. Won’t #pietrade this again for a while.
AMAT pulled back a little so rolled the 50.5 cc to next week for 0.65 and dropped cost basis to 48.91. Have 1 other account still working back to even with cost basis of 52.39.
Everything else expires next week so will sit on my hands and let theta decay do it’s thing.
Have a great weekend!
Afternoon all. I set up my rolling orders this morning in case the boss finds things for me to do. First off. SIG #Shortputs Rolled my June 8th 54 Put out to June 15th 54 for 0.95 credit when SIG popped down to 54.83, dipping below WVAP around 11:25.
Busy day here! Every single one of my #Saf-T trades is in the money for expiration, so I’m executing share calls and resets on them in multiple accounts.
LMT: I rolled into strength this morning, which means I rolled at the day’s high. This means that I didn’t collect a whole lot on the jun 8 calls ($222 of $1416) but I sold really high for next week, $2550 worth. If you recall, I’m now using LMT as a proxy to recover RTN losses (apples to apples in just one account). Last Friday the LMT-RTN was $-3858. Today it is $-3157. Gettin’ there.
My total premium sold for today was $14,894. It looks like I will collect $10,184 for a 68% retention.
I almost forgot my note-to-self about ETF divs next week and started a roll into next week. I quickly fixed that. All my SPY rolls are to Jun 13, the TQQQ rolls are to Jun 22, pretty far OTM.
Everyone have a fun and safe summer weekend! It’s been a great week for covered’s.
Oh…anyone in TWTR short calls….just keep an eye on extrinsic value, no action today necessary.
#spxcampaign
$SPX STC 6/15 2800/2825 BUCS at 2.80 BTO 5/24 at 1.01. Closed half of the position. Thank you @jeffcp66
#shortputs
$BIDU BTC 6/15 220/230 BUPS at .02 STO at 2.25
#shortputs
$TWTR BTC 7/20 31 puts at .10 STO 5/22 for 1.12
#CoveredCallCampaign
I know this is a strategy for selling calls against stock, but my love for #ShortStrangles makes me want to take advantage of weakness…
Sold $AAPL July 6th 185 put for 1.70. Already long stock and short calls at 195 and 197.5.
Sold $FSLR Jul 20 50 puts @ 1.30
#spycampaign
update from yesterday’s 2785/2795 June 08 BeCS – quite a scare early in day as price approached 2780. Luckily, in this case, prices reversed and I closed at an adequate profit: sold 1.80 buy 1.20, 0.95; also added 2780/2790, sold 2.55, 1.55 buy 1.80, 1.70 glad to get out on that last portion.
As prices dropped I added BuPS 2760/2750 sold 3.10, 1.45 buy 2.70, 1.35 again glad to get out even.
Anxious to see what today holds.
#shortputs
$BABA STO 6/15 195/202.5 BUPS at 2.08 Added more contracts on Yahoo tender news.
$SQ STO 7/6 58 puts at 1.45 Thank you @jeffcp66
$X STO 6/15 37 put at 1.07 Thank you @jdietz1954
$WYNN STO 7/6 165/170 BUPS at 1.30
#longcalls
$MDT STC 6/15 82.50/87.50 BUCS at 4.25 BTO at 2.40 71% of max profit PLUS peace of mind. 😉
#shortputs AMAT
sold July 20, 48 put for .81
TO January 2019, 80 puts @1.50
#shortputs T
Closed July 33 put and 34 put, the 34 had been rolled, small gains, being safe.
#shortputs SDRL
Here is a fun little TastyTrade idea, pretty much the opposite of the creative strategies regularly discussed here.
Sold Jan. 2019, 1 put for .86, current price of SDRL is 46 cents, down 4% today, over 4 million shares traded today
Near the top of the range and pulling back today.
Sold $CAT Jul 20 165/175 BeCS @ 1.25.
Forgot to hit the “Post” button earlier. X has since pulled back some. SIG is holding steady.
X #Shortputs Looking like it wants to push higher. Sold June 15th 37 Put @ .70.
SIG #Shortputs Everyone needs a bit of glitter. Break out day 2 after earnings. Pushed back above the 200dma. Sold 1 54 Put for tomorrow expiry @ .60. Looks like it might make a fair income position if it continues to hold up. Initial stop on the stock will be about 52 if assigned.
STO 6/15 37 put 0.79 credit #pietrade
EWZ is down another 5%.
Is it an opportunity to go long?
Rolled my 6/8 38 call out to 7/20 40 call for 0.81 credit, also BTC 6/8 36.5 put for 0.05 sold 6/5 for 0.40. I am working against stock assigned at 42.50. CB now down to 39.79. #pietrades
In my IRA, rolled June 29, 56.67 calls to July 20, 57.67 call for a credit of .05 cents.
#shortputs
WDC is down 4%
Sue, would you hold any Aug/Sep/Oct #unbalanceddiagonal position over earnings, or close prior to earnings?
BTC June 29, 60 calls @ 2.38 and STO July 20, 61.67 calls @ 2.43
#LEAPs Selling some puts on weakness. I’m basically strangling these long LEAP and #CoveredCallCampaign stocks… kind of an adjustable strangle after having to roll some breached calls.
Sold $PYPL July 6th 83 put for 1.25
Sold $SQ July 6th 58 put for 1.20
BTC June 29, 38.5 calls @ 2.74 and STO July 20, 39 calls @ 3.10
After getting smoked yesterday with my June 06 2760/2770 I reentered June 08 2780/2790 @1.50 selected because 2780 was at 3rd Bollinger Band, an unlikely target to attain.
Today I added at 2.50, and also 2785/2795 for 1.80 when prices were rising about 2775. Missed the top 2779.44 but happily it peaked and is falling now. I am watching for support at today’s pivot line: 2764.
SJM is down 4%
#Market Financials ($XLF) got off their ass yesterday and are up again today, but tech ($XLK) is tumbling. Seems that these rallies can’t get everyone to join the party at the same time.
#shortputs TRTN
bought June 15, 35 put for .65, sold for 1.10 on May 23.
STC Jun 8 1617.5/1620 DIM Call BuCS BTO 6-4 2.17 closed for 2.49
Dep ITM call spread.
#SPXcampaign I’m getting pretty torn up on the call side, in triage. I can say I am reconsidering my entire approach. After a couple of good years of SPX spread trading, it simply has not been working for the last 10 months. The Upside Warning works great, but it usually comes too late, and the Downside is too unreliable and prone to head fakes.
My goal was always to build a strategy that can follow rules and roll when necessary. But the market has revealed its ability to whipsaw like no time since the 2008 crash. #SPXcampaign is not sustainable, or at least, selling call spreads is not sustainable.
I have already been working with LEAP and Covered Call strategies, so I’m at a point I need to reassess whether to continue SPX trading, or change it dramatically and make it a smaller part of my portfolio.
I’m not posting my SPX trades today, but I can answer any specific questions you have about trades you’re in. Mainly, I have about 6 call spreads that all passed their stop levels between yesterday afternoon’s surge higher and today’s open. I am selling some put spreads, but not enough (yet) to make up the losses. I will be still watching for the Upside Warning and getting more aggressive, but mostly with shorter term spreads as I can’t trust it to last.
ADBE: This started as an Aug/Jun 15 #UnbalancedDiagonal 7×5, until I realized I had forgot about earnings next week. So I scratched the qty 5 short calls for Jun 15 and sold 7 instead for this week. I took profits out the gate this morning for $602 total. I’d like to thank @mamacash for the idea to flip it to this week. Update: I did NOT see this drop coming, fully admit I had some luck jumping on profits at the open for my exit. My closing timestamp was 07:31:19, one minute after the open.
AMZN: Opening trade, protected #UnbalancedDiagonal 1. Bought July 1650 call x2 @ 80.05 2. Sold Jun 15 1700 call x1 @ 18.87 3. Bought Jun 15 XLY 108.5 puts x10 @ .38. One thing I’m learning at the pit is using partial profits on one trade setup as a sacrificial hedge (aren’t all hedges sacrificial…it was fun to say 🙂 ) in either the same or different/correlated product. It seems obvious, but I haven’t been doing much of that. So the XLY puts take $380 of the Amazon profits for a little extra downside protection. I continue to peel away more and more risk for trading this behemoth. Just a few weeks ago I was taking $160K risk, now it’s down to around $10-12K of risk.
Still to manage this week: I still have zero assignments on the Saf-T’s, LMT x2 (LMT lookin’ good! Will definitely put a dent in the RTN loss), that’s it!
Good Morning
Someone finally took my GM stock for the dividend. Total loss of $321 after 22 or so weeks of rolling. Could have been worse, at one point was down almost 4k.
Rolling works but names with higher premiums work better. For those following #pietrades GM is off the list. Plenty of better opportunities out there.
#spxcampaign
$SPX BTC 6/15 2675/2700 BUPS at 1.50 STO at 5.70 Thank you @jeffcp66
#longputs
$UVXY STC 6/15 16/10 BECS at 5.25 BTO at 3.15 Thank you @ramie77
#VIXIndicator We’ve seen this movie before, but each time it happens at a lower VIX level. Today should be the second close below the PREVIOUS 78.6% Fib line, but we need to close at 11.01 or lower to cancel this current warning. Because we are in the third Downside warning without an Upside one, the normal levels may be out of whack. It certainly looks as if we’re ready to cruise higher but we’ve been fooled many times this year.
In $SQ I am both long stock for the #CoveredCallCampaign and also long Jan 2019 60 calls for the #LEAPs strategy. So selling short-term calls against both positions.
Today:
Sold SQ June 29th 63.5 #CoveredCall for 1.60
Sold SQ July 6th 65 #SyntheticCoveredCalls for 1.65
STO Jun 15 BuPS 172.5/170.0 .35 #Bitty
Wiz buying
#LEAPs Thanks for all the input on my question below. It was very helpful and educational. I elected to TTMAR. I sold my call @ 2630 with QQQ at 175.16, right when the market turned up. Didn’t I once say I was the master of bad timing. Lol
#SPXcampaign I built this one up to a triple-sized position, back when we thought maybe an Upside Warning was coming. Now they’re close to expiration with less chance. Taking off 1/3 now at about breakeven.
Sold $SPX June 15th 2825/2850 call spreads for .70. Acquired in May for .743, avg price. A double position still remains.
Older study but good data. They keep showing 45 DTE is always the best performance for selling options OTM. Also managing at 50% seems to be key to consistent gains.
I like the #pietrades a lot and will continue to do them as my primary trade tactic but for those with bigger accounts may be better to sell 45 DTE and set up ladders. Can stay farther OTM, stay on the sweet spot of decay fro OTM options, less adjusting, and steady income. This alludes to the million dollar account with SPY from a few days ago.
https://www.tastytrade.com/tt/shows/best-practices/episodes/short-puts-increasing-duration-09-06-2016
Rolled my June 29, 50 puts out to July 15, 50 puts for a credit of .45 cents. I have covered 35% of the cost of the bearish hedge in January 2019. I hope to cover the rest by the end of the year. Hopium!
Definitely a risk on day, people piling into the market at all time highs. To quote Buffett, be greedy when others are fearful and fearful when others are greedy. I think we are approaching the latter.
I am sitting on my hands and letting theta work but am actually starting to look for some potential hedges that could pop in value if/when we get reversal and pull back. Not saying it would be big, but this is not going to end well for people that are just getting into the market at all time highs.
BTC June 29, 85 calls and sold July 20, 86 calls for a credit of .60 cents. I am long the 84.78 calls in 2020. If they expire in July, I will have covered 32.3% of the original cost and I am trying to cover the cost by the end of this year.
BA: I’ve got two of these on, a #CoveredBackRatio and an #UnbalancedDiagonal . The CBR had a virtual call assignment today, closing the full position for a net $2964 profit on an 8×4 setup. The UB I put on right before the close yesterday and is up smartly today.
TWTR: Opened a new Unbalanced Diagonal: Aug 37 call x10 @ 5.25, sold Jun 15 40.5 call x8 @.92. I’m really loving these unbalanced diagonals, how you can really bring the long strike up closer to ATM, thus lower risk, and at the same time bring the short call down closer to ATM (collect more $$), but the ratio makes the trade work so well.
SPY added a few more #Saf-T contracts. I’m still waiting for Saf-T shares to get called so I can reset them. I decided I make more profit waiting for full profit and paying the assignment fees, vs front running the assignment myself and giving up a few cents in order to save the fees.
I expect a really slow day from here on. It’s a “theta day” where I just sit back and catch the pennies.
Sue
#shortputs NKTR
Sold July 20, 50 put for 1.00, NKTR up 7 to 63 today
#LEAPs QQQ Question if anyone wants to opine. I bought 1 QQQ Jan 2020 161 Call @ 19.50. I gave up trying to sell calls against it because of the recent uptrend. I kept having to buy them back, adding to my basis which is now about where I started. I have a nice profit in the call and am wondering where to go from here. I see four options. Try to sell another call against it. Close the position and TTMAR. Roll the call up to say the 165 strike. Or do nothing. If I were to sell a call would it be better to go further out or continue the weeklies trying to whittle away the original basis. Thanks in advance for all your opinions and support.
TWTR #shortputs Closed my June 08th 37 Puts @ .04. Sold Monday for 0.87. Its good to be lucky. Just not wise enough to have gone long.
#SPXcampaign Closed on GTC order: $SPX June 14th 2590/2565 put spreads for .20. Sold for 1.65 on May 17th.
#LongCalls #LEAPS – This was one of my first attempts at this style of trade. With the low weekly premium I’m cutting it loose due to the whipsaw risk vs the potential profit…just not enough premium to sell.
Bought to Close LUV JUN 8 2018 52.0 Calls @ .05
Sold to Close LUV JAN 18 2019 60.0 Calls @ 1.35
Stock moved against me from day 1 but still squeezed out a profit after commissions…LOL. A whopping 8 cents per contract. Better than a loss!
Adding a shorter rung to the Dec/Jan ladder that @fuzzballl sold yesterday.
Sold $WYNN Sep 21 140 puts @ 2.10.
#shortputs #pietrades ECA
sold July 20, 12 put for .65, stock at 12.14, earnings are July 19.
#LongPuts #LongCalls #LongLEAPStraddles – 2020 position playing both sides (for now). This early in the trade I can afford to be really aggressive. Put side only needs 1.19 per week to be covered a year early. Call side is just 68 cents.
Bought to Close TSLA JUN 8 2018 292.5 Puts @ .85 (sold for 7.15)
Sold TSLA JUN 15 2018 302.5 Puts @ 6.43
Rolled TSLA JUN 8 2018 292.5 Calls to JUN 15 2018 295.0 Calls @ .40 credit
SOXL is going ex-div on 2018/06/19.
Amount is not known so far.
Sold $AMBA Nov 16 32.50 puts @ 1.10. Stock hasn’t been there in almost 4 years.
#LEAPs #SyntheticCoveredCalls
Missed the highs at the open, so selling now: $TQQQ June 29th 62.5 calls for 1.20
#SPXcampaign Sold after the closing bell yesterday: $SPX July 6th 2830/2855 call spreads for 1.65.
Today I’m just letting time decay do its thing. I may sell something if we reach significant highs or lows.
#LongCalls #LEAPS – This thing is in a squeeze that could go either way. Selling this new batch a couple weeks out and won’t hesitate to roll if deltas become negative. 2020 position that need 66 cents per week to be covered a year early.
Bought to Close RTN JUN 8 2018 217.5 Calls @ .10 (sold for 1.25)
Sold RTN JUN 22 2018 217.5 Calls @ 1.25
I notice that it has been going up but on low volume. Perhaps a warning sign?
#LongPuts #LongCalls #LongLEAPStraddles – Got aggressive with my last put sale so bringing it back in a little. LEAP puts already paid for so a small debit roll down. The pullback is helping the call side though.
Rolled FB JUN 8 2018 195.0 Puts to FB JUN 22 2018 192.5 Puts @ .53 debit
#LongCalls #LEAPS – Booking and selling…
Bought to Close AMBA JUN 8 2018 51.0 Calls @ .05 (sold for 1.60)
Sold AMBA JUN 15 2018 44.5 Calls @ .85
BTC July 20, 30 puts @.05, sold at 1.20
Rolled Jun 8 103 call to Jun 15 104 .13 Cr have a Jun 15 100 call
#earnings SIG
up 17% after earnings
AMBA down 14%
STO BeCS Jun 8 1750/1752.5 .23 2x makes an IC
NFLX
STO BeCS Jun 8 380.0/382.5 .16 Also an IC
Just a bit more credit for this week.
#spycampaign
June 06
STO BeCS 2760/2770 for $2.25, 2760 is about R2, but delta is 0.33, higher than I like
STO BuPS 2745/2735 for $0.90, prices moving up strong, delta 0.172 safer level I think
This approach worked well last 2 expiration days so I’ll keep trying it until it fails. I add later in day after volatility dies down but premiums richer early in day.
Rolled my June 29, 202.5 calls out to July 13, 205 calls for a debit of .30 cents. I own the January 2019 calls.
BTO Jul 20 176/174 Put spread .81 #Bitty
TP TT
Good Morning
#shortputs
Closed Early
$NFLX BTC 6/15 310/320 BUPS at .05 (98% of max profit)
#shortputs
$WYNN STO /20 170/175 BUPS at 1.40
#spxcampaign
$SPX BTC 6/22 2800/2775 BECS at 6.25 STO at 2.50
#longcalls
$YY STC 6/8 116 calls at 9.10 BTO at 4.78 Have a few left. Not sure I will hold over earnings
#shortputs
$BIDU BTC 6/15 240/250 BUPS at 1.00 STO at 3.30 (70% of max profit)
$TQQQ BTC 9/21 26.67 put at .20 STO in April at 2.27 Thank you @ramie77
#rolling
$SQ BTC 6/15 58.5 put and STO 6/15 60.50 put for extra .60 credit and gained $2 if called
#ShortPuts #IRA – Two month position…booking it. Freeing up some buying power.
Pre-split numbers:
Bought to Close TQQQ SEP 21 2018 80.0 Put @ .75 (sold for 6.50)
Options Bistro 