#BearCallSpreads – A small one out to April…
Sold UVXY APR 20 2018 24.0/34.0 Bear Call Spreads @ .70
Category Archives: Uncategorized
TLT
#PerpetualRollingStrangles – Just to give it a little more room….
Bought to Close TLT MAR 29 2018 120.5 Calls @ .31 (sold for .62)
Sold TLT APR 6 2018 121.0 Calls @ .40
Jeff is Bistro working?
Jeff is Bistro working?
FDX
Thank you Jeff I closed the 270 for 0.02 waiting for the 240
Closed Early / Long Calls / Short Calls / SPX Campaign
Closed Early
$SPX BTC 3/29 2600/2625 BUPS at 6.00. STO at 1.60 Left a few open. See what tomorrow brings.
$FB BTC 4/20 155/165 BUPS at 4.50 STO at 1.80 Should have kept some.
#longcalls
$MSFT BTO 4/20 95/97.50 BUCS at 1.05
#shortcalls
$LABU STO 3/29 90 calls at 2.20 (Covered)
$FB STO 4/20 170/162.50 BECS at 2.00
#spxcampaign
$SPX STO 4/27 2795/2770 BECS at 2.20 Thank you @jeffcp66
$SPX STO 4/27 2400/2425 BUPS at 1.90 Thank you @jeffcp66
SPX roll
#SPXcampaign
Stopped: $SPX Apr 6th 2700/2725 call spreads for 6.00. Sold for 3.10 on Friday.
#CondorRoll: Sold Apr 13th 2525/2550/2745/2770 condors for 6.30.
FAS
#SyntheticStock #LongCalls – With my margin hog AMZN position out of the way now it’s time to start looking for new opportunities. I’d like to stay involved in the banks so this seems like a good way to do it. Wasn’t having much luck out in 2020 with the market makers for a 2 strike wide synthetic. Instead, just going to Jan 2019 and buying the straight calls. (only 5 wide strikes in 2019 anyway). As @hcgdavis pointed out, the weekly premium is really nice in this ticker.
Bought to Open FAS JAN 18 2019 65.0 Calls @ 10.50
Max loss of 10.50 with 42 weeks to run so need 25 cents per week to cover.
So: (premiums are so good that this is a freebie. 42 weeks to go is AFTER this week…crazy!)
Sold FAS MAR 29 2018 65.5 Calls @ .85
XLY
#SyntheticStock – With my margin hog AMZN position out of the way now it’s time to start looking for new opportunities. Whiz pointed this one out the other day. AMZN is a big chunk of it so a cheaper way to stay involved. Pretty nice weekly premium as well.
Bought to Open XLY JAN 18 2019 102/102/100 Synthetic @ 6.50
Max loss of 8.50 with 42 weeks to run so need 20 cents per week to cover.
So:
Sold XLY APR 6 2018 103.5 Calls @ .73
#pietrade FAS CC 68 CC…
FAS CC 68 CC expired worthless on Fri. STO the 67 CC with 11 DTE for 0.95. Brings cost basis down to 66.25.
Hope to start taking some profits on the strangles later this week on ANDV, NSC, UTX (whipsaw on this one, I rolled the call down Friday and now rebounding.
TSLA put spread
Taking a shot with IV at its 52 week high (IVR=100). Sold $TSLA Apr 20 265/255 BuPS for 1.40. Short strike is at 20 delta.
SLB
#Earnings – For anyone trading along in this, the earnings date is now confirmed for Apr 20th. I’ll be trying to keep all the weekly sales prior to that and then decide whether to sell, close, or sit out the announcement.
First one in my current positions list to confirm a date…
TSLA
#ShortStrangles – Fun little single contract position I’ve been playing with….rolling every week to inverted or straddle or strangle or whatever is needed.
Currently sitting at this week’s 332.50/305.00 Inverted @ 17.40 total premium
Weekly premium is through the roof so taking a more traditional approach. Rolling the put side out and down to what I hope is just prior to earnings. Letting this week’s short call side hopefully expire and then continuing the weekly call sales against the short put.
Rolled TSLA MAR 29 2018 322.5 Put to APR 27 2018 312.5 Put @ .40 debit
DG
#SyntheticStock – This week’s 95.5s look safe so adding next week’s sale into the pop.
Sold DG APR 6 2018 93.0 Calls @ .95
SLB
#syntheticStock – Selling up into resistance again…
Bought to Close SLB MAR 29 2018 68.0 Calls @ .03 (sold for .27)
Sold SLB APR 6 2018 65.0 Calls @ .90
SPX calls sold
#SPXcampaign Sold $SPX Apr 27th 2770/2795 call spreads for 1.60. Playing things at the standard distance OTM (.10-.15 delta) while the market is wily.
SPX puts sold
#SPXcampaign Based on the way this market has been acting, lows that create a bounce this big result in a multi-day rally. While I’m not saying the coast is clear for new all-time highs, we should remain buoyant to bullish at least for a few days. So I’m selling puts rather than calls on an up day (however, the weakness since the initial pop is making this less certain). If we reach back toward 2700 I’ll be playing it more neutrally until the Downside Warning gets canceled, which is not until VIX closed below 12.61.
Sold to Open Apr 27th 2425/2400 put spreads for 1.75. Already up above 2.00 since we’ve sold off from the highs. If you wish to follow, I suggest going with the 2400/2375.
CRUS REGN VXX
#SyntheticStock #LongCalls #BearPutSpreads #BullPutSpreads – Selling what I didn’t get a chance to on Friday. Glad I waited on these. Going out another week to take advantage of the entire 3 day weekend…
Sold CRUS APR 6 2018 43.5 Calls @ .50
Sold REGN APR 6 2018 340.0 Calls @ 2.11
Sold VXX APR 6 2018 40.5/37.5 Bull Put Spreads @ .47
Econ Calendar for week of 3/26/18
Be sure to periodically click “HOME/Refresh” to keep Bistro features updated.
Not done with the Mark…
Not done with the Mark Sebastain book but a few things about adjustments, may need them. Unfortunately I have a few trades that will take me a while to unwind so won’t be able to do these for a while.
Butterflies, adjust once you are at the long strike. Basically buy some more and the ratio will boost returns.
Credit spreads, leave enough space between the strikes so you can buy in between. Usually a 3-4 contract buy on a 10 lot will flatten your deltas. If it then keeps moving you have a back ratio and any further movement will increase your profits. Other option is just back ratio the spread, say buy back 1 short for every 3-4 long contracts.
Naked options, the best way we have found is to turn them into a #fuzzy.
Full disclosure, I have not had time or the opportunity to do any of these real time, but they look like they will work in thinkback. Most of the time it flattens your loss but don’t expect a huge profit on an adjustment except in the case of a continued move if you ratio it.
Some people may get margin calls over the weekend, Sunday open could be interesting and I might take a directional trade then. Have to see.
Have a good weekend.
Options Expiration and Final Trades 3/23/18
#SPXcampaign. Cleared out most put spreads for expected lower levels Monday. I only rolled one as I’d like to sell based on Monday’s open.
Stopped $SPX Apr 19th 2540/2515 put spreads for 5.40. Sold for yesterday for 2.85.
#CondorRoll: Sold Apr 6th 2700/2725 call spreads for 3.10, and Apr 6th 2475/2450 put spreads for 2.80.
Stopped Apr 19th 2475/2450 put spreads for 3.10. Sold yesterday for 1.80.
Closed Mar 26th 2680/2705 for .30. Sold this morning for 3.10.
Stopped March 26th 2575/2550 put spreads for 6.05. Sold yesterday for 1.75.
Bought to Open March 29th 2475/2450 LONG put spreads for 2.15. Will take profits with any big gap or move down Monday.
Bought to close March 23rd 2585 puts for .35. Sold in a #Condor Roll on Monday. Thought I didn’t need to worry about this one.
#VXXGame: Sold $UVXY Jan 2019 65 call for 3.75… thanks @optioniceman and @ramie77 for the idea
#Earnings BTC $FDX Mar 23rd 240 puts for 6.50. Sold in a strangle for 1.75 on Tuesday. Missed my chance to close for cheap on Wednesday. #Rolling: Sold Apr 20th 235 puts for 6.75. Also sold a Apr 20th 255 call for 1.15. Will add more calls on strength.
#OptionsExpiration
$SPX 2790/2815 call spreads
$VRTX (formerly covered) 177.5 call
Still about 40 points from…
Still about 40 points from the Feb lows but they ripped /ES down into the close. However, momentum shifted on the 15 minute on the last candle. I am not the directional guy so who knows what it means for futures open Sunday night 🙂
#spx Close below 200 MA…
Close below 200 MA is not a good sign.
#UVXY Probably should have waited…
#UVXY
Probably should have waited for Monday
STO UVXY Jan18’19 75 CALL 2.90
KHC
New low on this dividend stock.
#short put Taking a chance…
#short put
Taking a chance on UVXY Sell to open March 23 $19,50 put for 0.15. I expect to get assigned at net cost 19.35 when asking price was 19.75
UTX strangle
Rolled the 28 DTE 134 call down to 130 for 0.56 credit. Now have the 125/130 strangle.
Ever notice how loosing trades take up way more time and energy than trades you just leave alone?
Goal is to close early for profit in 1-3 weeks.
Did not watch the market today, big swings still.
UVXY calls
I know I said I was limiting the naked call selling in volatility but this one just seemed too good.
Sold $UVXY Jan 18 2019 75 calls @ 2.75.
Highest strike. Thanks for the idea @optioniceman.
AMZN
#SyntheticStock – Big change today….finally deciding on booking this after being in it for quite a few months. It’s a margin hog in the #IRA so I’m hoping for better places to put the cash to work on this pullback. It’s been a struggle working the ITM weekly up but finally got an acceptable profit out of it…(nothing like it could’ve been though).
Sold AMZN JUN 21 2019 1350.0/1350.0/910.0 Synthetic
Bought AMZN APR 27 2018 1350.0 Call
Total gain of 61 points…
New lows in…
$FB since July
$AAPL since mid Feb
and probably just about every other stock.
MHK Aug puts
Sold $MHK Aug 17 175 puts @ 2.00. Delta 9 with a strike below the 2 year lows in the stock.
#FallingKnife
Not good
#VIXIndicator Just a heads up that closes like this on a Friday don’t make for great Mondays. This will make 2 uglies in a row after yesterday… similar to that fateful weekend in August 2015.
Oct AMGN adding at a lower strike
Sold $AMGN Oct 19 130 put @ 2.00
DWDP Sep puts
Sold $DWDP Sep 21 55 puts @ 1.45
#FallingKnife
#longstock Sold UVXY for $18.82…
#longstock
Sold UVXY for $18.82 couple of hours ago, bought yesterday for 17.82.
I also rolled up my UVXY March 23 #17.5 call to March 29 $19 call (now naked),
I’ll wait for a solid buy point point – FALLING FAST.
Closing some DUST
Starting to whittle down my exposure.
Bought to close $DUST Jun 15 45 call @ .40. Sold for 2.80 on 12/17.
SPX day trade
#SPXcampaign Closed $SPX Mar 23rd 2550/2575 call spreads for 1.75. Sold for 9.00 earlier today.
Adding CAH
Selling Sep to add to my short Jun 50 put
Sold $CAH Sep 21 50 puts @ 1.35
#FallingKnife
MS July
Sold $MS Jul 20 46 puts @ 1.04 with the stock at 53.25.
#FallingKnife
#ironcondor DIA followed Fauzia at…
#ironcondor DIA
followed Fauzia at TT May 18, 254/264/217/227 for 2.50
Dropbox is trading
under symbol $DBX for about 7 minutes now. Already up 44%!
#earnings MU closed April 20,…
#earnings MU
closed April 20, 59.50 straddle sold yesterday for a gain of .90, concerned the bottom could fall out.
Livin’ on the Edge
#SPXcampaign Although these have not worked out for me this week, need to get my fix. Since I feel we will likely go lower, I…
sold $SPX March 23rd 2650/2675 call spreads for 9.00 when SPX was at 2652. If these expire worthless it will make up for the 2 call spreads that beat me this week.
TLT
#SyntheticShort – The weekly hedge against a small synthetic short I’ve been playing with…
Bought to Close TLT MAR 23 2018 117.5 Puts @ .01 (sold for .49)
Sold TLT APR 6 2018 118.5 Puts @ .41
LUV
#SyntheticStock – Pretty good week in this ticker in spite of the selloff. Booked 80 cents with the double selling. Not bad when only 14 cents is required. Looking to next week now…
Sold LUV MAR 29 2018 58.0 Calls @ .45
GLD
#SyntheticStock – Been trying to get out of this at even or at least reduce the size a little. Fought the hedge the entire time. Until two days ago I thought I was successful but now on another massive run. Rolling the weekly all the way out to May to give it some room. See how the next week or two goes….keeps running I can probably close the position. If it tanks I’ll have to roll it back in and down. Looks to be at resistance but you never know.
Rolled GLD MAR 23 2018 125.0 Calls to MAY 18 2018 127.0 Calls @ .06 credit
AZO
#BullCallSpreads – Letting this week’s expire so selling next week…cost basis reduction in the Jan Bull Call Spread…
Sold AZO MAR 29 2018 660.0/680.0 Bear Call Spread @ 2.12
AAOI
#ShortStrangles #SyntheticStock – Still a dog and I’m still selling. Getting to the point now where a massive whipsaw is a concern (or a big buyout similar to GMCR back in the day). Letting the leash out a little and selling spreads. Still bringing in the min needed to cover the synthetic side of the repair. It’s a little less than I need for the short strange side but those can always be rolled indefinitely. Also letting this week’s short calls expire…
Sold AAOI APR 20 2018 27.0/31.0 Bear Call Spreads @ .65
SPX trades
#SPXcampaign The whipsaw I suffered in the morning yesterday was a buzzkill, because I’ve been correct about direction just horrible at my intraday timing. Here are remaining trades from yesterday and some this morning..
Sold $SPX April 19th 2540/2515 put spreads for 2.85, #Rolling with 1.5x position size.
Sold $SPX March 26th 2575/2550 put spreads for 1.75, expires Monday
Stopped Apr 6th 2550/2525 put spreads for 2.90. Sold for 1.95 on Mar 7th.
#ReverseRoll Sold March 26th 2680/2705 call spreads for 3.10.
Closed on GTC orders:
March 29th 2760/2785 call spreads for .30. Sold for 3.45 on Monday.
April 13th 2850/2875 call spreads for .20. Sold for 1.70 last Friday.
#ITMroll
Sold April 13th 2775/2750 put spreads for 22.25. This is an #ITM roll from the March 29th 2790/2765 spreads I’m currently trying to close. Probably be paying close to 24.00.
SPX
#RocketManhedge – I’m officially retiring this experimental hashtag with good news and bad news. First the bad news…
Was out yesterday and missed my chance to roll out and down my short weekly so the hedge didn’t do any good at all…it was actually down yesterday. So today I closed the whole thing at a loss since it’s not working and is really getting me sidetracked watching other positions.
Did 4 of these in total with 3 winners and one loser but still a net loss of 28 points…
Now, the good news. With my accounts being more heavily weighted in synthetics I’ve found the big overall hedge isn’t really needed since most of these positions have the hedges already built in. It’s really been noticeable during these 2 recent selloffs we’ve had. More good news is the fact Sue mentioned TheoTrade the other day so I’ve been getting his free videos. Came across this one that I really liked and will be putting these on from now on when the market is getting to extremes. I’m also wondering if something similar would work to the long side as well…haven’t even checked and have no idea since that just crossed my mind while typing this…LOL
KOLD call
Adding a position in November at the highest strike (now 68).
Sold $KOLD Nov 16 68 call @ 2.00.
TQQQ Bearish Fuzzy
I rolled my March 23, 155 puts out to April 20 for a credit of 3.77 Position is:
long 165 puts
short 165 calls
long 170 calls
short 145 puts
FB
Whiz’s take on Facebook…
XOM
#SyntheticStock – Late fills…
Bought to Close XOM MAR 23 2018 75.5 Calls @ .03 (sold for .35)
Sold XOM MAR 29 2018 74.5 Calls @ .48
#shortstrangles Converting some #pietrades to…
Converting some #pietrades to strangles on the weakness. Went for a run, when I left looked like the market was firming, came back to chaos and panic. It was only an hour run!
Anyway STO ANDV 22 DTE 108 call at 0.5 for 95/108 strangle and put side cost basis 94.19
STO UTX 29 DTE 134 call at 0.48 for 125/134 strangle with put side cost basis at 124.03
STO NSC 22 DTE 143 call at 0.85 for 131/143 strangle with put side cost basis at 129.1
If they rebound will buy stock, otherwise it basically doubled theta rate and should be able to roll or close early for some profit.
#spxcampaign Probably a bad idea,…
Probably a bad idea, but I had a stink bid for SPX that got executed
STO SPX Apr19 2500/2490 1.10 CR
STO SPX Apr19 2475/2465 0.95CR
#SPXcampaign Well… I am out…
Well… I am out
BTC SPX Apr19 2570/2560 1.65. Originally sold for 0.80
BTC SPX Apr19 2550/2540 1.45. Originally sold for 0.80
BTC SPX Apr13 2600/2590 1.45. Originally sold for 0.70
This is a bit more selling more than expected.
#earnings #shortstraddle MU Follwed Mike…
#earnings #shortstraddle MU
Follwed Mike at TT April 20, 59.50 straddle for 8.07
VXX
#BearPutSpreads – One fill today on the short side of BuPS sales to finance BePS
Bought to Close VXX MAR 23 2018 38.0 Puts @ .01 (sold for .53 as part of 38/33 BuPS)
GM #pietrade Rolled the 39…
Did I miss anything?
Picked a good day to exchange, renew, and re-activate all my Comcast stuff down here. Boring day?? 🙂
X going inverted
Sold $X Apr 20 40 straddle on 3/13 for 4.70. With today’s big move down in steel, I’m rolling the calls down to 36 for 1.20 credit. Total credit now 5.90. If the stock finishes between the strikes (36 and 40) total profit will be 1.90. Now let’s see if it can cooperate.
#shortputspread AAPL sold April 20,…
#shortputspread AAPL
sold April 20, 160/165 for .88
SPX calls
#SPXcampaign I love getting short at the lows! Always a joy.
BTC $SPX March 26th 2700/2725 call spreads for 8.50. Sold for 4.30 this morning. I’ll figure how to roll toward the end of the day.
Adding some KOLD
In August
Sold $KOLD Aug 17 60 call @ 1.50. Starting small and will add (there’s also a 70 strike available in Aug) on a move up.
CAT Apr put spread
I may be a bit early but I wanted to sell some out of the money premium on this. April expiration (before earnings). IV is high (IVR 64). Short strike is 10 points below current price.
Sold $CAT Apr 20 140/130 bull put spread for 1.13-1.14.
AMGN Oct
It’s been profitable to sell puts on this when it gets to the bottom of the range (in this case near or below the 200 day moving average).
Sold $AMGN Oct 19 140 puts @ 2.45
Adding to Aug AYI
Already short 100 puts in Aug.
Adding at 2 strikes lower:
Sold $AYI Aug 17 90 put @ 1.45
#FallingKnife
/es
The 2665 voodoo line (elliot wave line) seems to have stop the fall today to the tick. Not taking any directional trades today but worth watching.
What do you think @fibwizard?
#pietrades New trades FAS 3/30…
New trades
FAS 3/30 expiration 65 CC cost basis 63.65
FAS 3/30 exp. 64 CC cost basis 62.70
LNG 4/6 exp 55 CC cost basis 53.79
Existing position or adjusted
FAS tomorrow 68 CC cost basis 67.20 Will let expire then open ATM on Monday. Still has 1.05 time value in it so being a little greedy sine the market makers are being greedy on the spreads today. Work any orders you are trying to get through.
UTX 29 DTE 125 put cost basis 124.51, watching this one closely and may convert to a #fuzzybear if it keeps going.
ANDV 22 DTE 95 put cost basis of 94.69
ERX 15 DTE 21/26 vertical debit at 25.41. If we drop below 26 will convert to #fuzzy
GM 15 DTE 39 CC cost basis 38.75. Problem child I will be rolling for weeks. Goal is to keep selling right at dropping cost basis just to let it clear out then moving on to another name. This one no longer trading well for #pietrades
NSC 22 DTE 131 put cost basis 129.95. This one will probably replace GM in the rotation.
I am starting to notice something with triple ETFs, they are easier to roll and manage than some individual names because the premiums are so high, especially on the call side. FAS can get about 3 ATM and because of the call skew selling ITM CC gives some downside protection. Don’t load the boat with them but getting 100% annualized returns just by selling weekly ITM CC #pietrade syle.
Hope everyone has a good week. My work has been so busy may only get to trade Thursdays for a while.
SPX trades 2
#SPXcampaign Sold to Open $SPX Apr 19th (monthlys) 2475/2450 put spreads for 1.80.
#ReverseRoll Sold March 26th 2700/2725 call spreads for 4.30, as a roll from Apr 20th puts stopped earlier. One of my very short term reverse rolls to make up premium quickly, or possibly explode in my face. Keeps things interesting.
VRTX closed
#Earnings #Assignment #IronButterfly #CoveredCalls
Sold $VRTX stock (100 shares) for 167.50.
Originally 160/167.5/175 iron butterflys (3) sold for 5.60 on Jan 31st. Closed most before expiration but forgot about one put, so assigned stock at 167.50. Sold today for the same price. With all premium selling and covered calls since then, total profit on the trade is $1,543.
I purchased UVXY, a little…
I purchased UVXY, a little later than planned, at $17.60 and $17.82 as price was running away. Glad I did it is now $18.14 still at top of upper Bollinger Band.
Downside signal
#VIXIndicator — we just crossed an intraday signal above 22.25 on the $VIX. A close above this level will mean a Downside Warning.
#shortputspread SBUX Sold April 20,…
#shortputspread SBUX
Sold April 20, 55/57.50 for .51, idea from Tatsytrade morning 3-mail, maybe become a #pietrade down the road.
#creditspread Sell to open UVXY…
#creditspread
Sell to open UVXY March 29 17/25 calls for 0.85 and 1.00 cr as prices bounce around. I plan to cover with purchase of underlying if prices moves near $17.50
Options Bistro 