#SPXcampaign I’ve a feeling we’re going lower.
Stopped: $SPX Apr 19th 2580/2555 put spreads for 3.25. Sold for 1.75 on Monday.
#ReverseRoll Sold March 28th 2735/2760 call spreads for 3.35
Stopped: SPX Apr 20th 2595/2570 put spreads for 3.85. Sold for 2.00 as a 1.5x roll on Mar 14th.
No roll yet.
Closed SPX Apr 13th 2870/2895 call spreads for .25. Sold for 1.80 on Mar 14th.
BTO 2020, 165 calls
STO 2020, 165 puts
BTO 2020, 160 puts for a total price of 31.24
STO April 20, 180 call @ 1.44
WYNN re-entered as STO Jan18’19 put with a strike at 100. Got 1.92
Hi everyone! The FB #PutRatioJadeLizard from yesterday was closed today for 33% profit. My target was 50% but, as you know, when a underlying hits the right-side slope of a Jade Lizard risk graph the accrued profits start dropping off. But I opened a new #IronCondor on it. Because the alternate sides have different strike widths I skewed the contract amounts.
Apr 20 150/155/182.5/185 5×7 IC (5 on put side, 7 on call side), net credit 5.83, BE 153.80/183.30
I plan to layer in a lot of SPY Put Ratio Jade Lizards whenever there’s a 20DTE on the chain.
Today: Apr 11 +273p/-272p x2 @2.37cr, -275/277 CCS @ .69 cr
A long time ago I wrote about waiting for a 3-of-5 bar 1-standard deviation up move before trusting a rally. It’s looking like that might be a good rally indicator, only because we can’t seem to barely get a 1-SD up move at all. In SPX we now have 16 straight bars I think with a 20-day 1SD up move rolling total of 1. I’ve only found 3 times in history going back to 1987 where we’ve gone this long with so few 1SD up moves. It speaks to the choppy nature of markets, and to not get faked out on rallies until a solid string of 1SD up moves unfolds. I’m watching it every day, will obviously keep posting about it.
Sue
#shortcallspreads AZO IWM
March 16, sold a fuzzball inspired March 23, 670/675 call spread for .83, decided to close today for .25,being careful, particularly after taking it on the chin on a Tradewise IWM call spread today as well.
#SyntheticStock – I’ll generally leave these closing orders in for a nickel through Wednesday. After that I’ll lower them to about .03 on Thursday and then .02 or .01 on Friday. Figuring I can pay the nickel on Wed and make it up by getting to sell next week’s a few days early.
Bought to Close CELG MAR 23 2018 93.0 Calls @ .05 (sold for .47)
Sold CELG MAR 29 2018 91.0 Calls @ .61
#shortputs
$CRM STO 4/20 120/125 BUPS at 2.20
Yesterday after my hedge got run over for a 3rd time in 4 I closed my Sept 46/46/44 #syntheticstock which I opened 2/28.
All said and done made $4.18 per spread. Waiting for a pullback to get back in.
Sold $CLX Oct 19 105 puts @ 1.50
Rolled Mar 23 29 Call to mar 29 31 .35 debit part of Hedge on 28/28/26 Apr #Fuzzy
Sell remaining UVXY Mar 29 $16 puts for $1.95, also bought 3/19 for $1.10
Sell to close UVXY Mar 29 $16 put for $1.90, bought 3/19 for $1.10
#SyntheticStock – Another sale…
Bought to Close DG MAR 23 2018 97.0 Calls @ .05 (sold for .80)
Sold DG MAR 29 2018 95.5 Calls @ .74
Freeing up some cash in the #401k. Planning on moving part of it into a longer term hold and re-balance strategy for a longer term time frame similar to this:
https://portfoliocharts.com/portfolio/golden-butterfly/
Bought to Close PSA JUN 15 2018 160.0 PUT @ .45 (sold for 2.50)
Bought to Close TXN APR 20 2018 105.0 PUT @ 1.23 (sold for 3.00)
Bought to Close TXN APR 20 2018 100.0 PUT @ .50 (sold for 1.90)
Bought to Close UNP MAY 18 2018 125.0 PUT @ 1.10 (sold for 3.70)
Bought to Close UNP MAY 18 2018 120.0 PUT @ .70 (sold for 2.45)
Bought to Close XBI JUN 15 2018 75.0 PUT @ .65 (sold for 2.13)
BTO FB Mar 29 BF 175/180/185 .95 taking a shot
#Dividends Looking to help my sister with her IRA… she wants decent dividend stocks on which I can also sell #CoveredCalls. Already bought her some $AAPL.
Any other recommendations out there. I’m not too in-touch with the #YieldHogs.
STO October 40 puts @1.40
#SyntheticStock – Looks like it might be running out of gas here (as I’m typing this it’s rallying 🙂 ). Booking a small winner and looking for something with some better upside potential. these were just straight calls instead of synthetic. 37 cents per contract gain…been in and out of this ticker a few times so overall adding up nicely.
Bought to Close MGM APR 6 2018 36.5 Calls
Sold to Close MGM JAN 18 2019 35.0 Calls
MU financial report is tomorrow 3/22/2018 after closing of the market. This one usually bullish and does not move much after financial report.
#ironcondor GOOGL
Followed Beef at TT April 20, 1030/1035/1160/1165 for 1.95
#SPXcampaign I wanted to wait for Fed announcement, but this break above 2720 is too much pressure. The deeper dive I was expecting never came through, and it is expiration day. Can’t risk it any longer.
BTC $SPX March 21st 2710/2735 call spreads for 13.50. Sold for 10.20 on Monday.
#Longcalls
$CRM BTO 8/17 120/130 BUCS at 4.65 Expect their $MULE acquisition to be accretive.
#spxcampaign
$SPX STO 3/23 2575/2600/2800/2775 IC at 1.35 Thank you @jeffcp66
STO GIS, 35 puts @.51
STO, SJM, 95 puts @1.60
STO, SJM, 90 puts @1.14
#shortputs ORCL
Sold April 20, 46 put for .48
STO April 27, 180 calls @2.60
Bought to close $CMG Sep 21 180 put @ .85. Sold for 5.10 on 2/12.
#ShortPuts
$TWTR STO 4/20 31 put at 1.16
Are the hash tags working as you type them in? Mine aren’t. Perhaps they are trying to tell me to stop?
#SyntheticStock – Was seriously considering booking this one yesterday since it was up 2 dollars per spread…so much for that. Looks like the weekly selling will continue.
Bought to Close LUV MAR 23 2018 60.0 Calls @ .05 (sold for .60)
#closed early
$DVN BTC 3/23 33 put at 1.25 STO at 2.45.
#Rolled
$CBOE BTC 4/13 122 call STO 4/20 123 call at .20 added credit. Stock basis now 118
$SQ BTC 4/6 53.5 call STO 4/20 58 call at 1.70 debit. Rolled this one several times. Now cost me 2.00 but assignment price raised from 45 to 58. Stock now at 58.18. Rolling is dizzying. Don’t know how @fuzzballl does it so often. Must be his pilot training.
Rolled UTX 16 DTE 126 put down to 125 30 DTE for 0.36 credit.
I could take assignment but with the chop plan to stay farther OTM, roll earlier, and only take assignment at what looks like a base or good price.
In my IRA:
BTO 2020,165 call @ 31.25
STO 2020, 165 put @ 22.86
BTO 2020,160 put @ 20.51
In at 29.50 and waiting for a bounce to sell the weekly calls. Maximum loss is 34.50 so I need .36 cents per week for the next 95 weeks.
Sold $FB Apr 27 (weekly) 150 puts @ 2.40
How is spring working out for you so far?
I’ll keep the flowers up for the week so our East Coast members have some solace from what’s outside their windows. Stay safe and stay warm!
Jeff, are you still holding $SPX Mar 21st 2710/2735 call spreads? I opened the 2715/2740 and just wondering what your plan was for rolling.
#shortputs
$AMZN STO 4/20 1360/1390 BUPS at 1.36
FB #PutRatioJadeLizard
I’m focusing on 3-way trades now…theta positive trades with wide profit ranges that will make money with an underlying move in any direction. Lately my fav trade is to combine a put ratio spread (the pit-traders’ fav) with a Bear Call Spread for a Put-Ratio-Jade-Lizard. Here’s the trade I did today on FB:
Apr 6, bought 160 p x 2, sold 157.5 put x 4 for 2.35 net credit, 170/172.5 Call Credit Spread for .70 cr x 2, total credit is 3.05, since it’s greater than the CCS-width there is no upside risk. Break even is 152.60, with max risk being assignment of 200 shares of long stock at that level. So, that allows for a substantial continued downside move, or not. I did the trade awhile ago, it’s already up about 25%.
Sue
p.s. anyone else having trouble w/ email updates on posts? nevermind, my browser notifications were disabled somehow.
p.p.s Nice background Jeff!
#SyntheticStock – Partial fill on a 2 lot…LMAO!
Bought to Close OLED MAR 23 2018 133.0 Call @ .05 (sold for 1.50)
FB may not end the day down 5%, but this is interesting
It does not happen often, but it's happening to Facebook right now. S&P 500 stocks with a market cap of $50+ billion dropping 5% or more on back-to-back days. Here's every instance, and what happened on the third day. Via @OddStats. $FB $GOOGL $NFLX $GE https://t.co/b1MeoGLGt1 pic.twitter.com/oCiRZDe2ti
— StockTwits (@StockTwits) March 20, 2018
Tradewise rec for FB April 20, 155/157.50 for .75
STO June, 75 puts @.85
STO September, 70 puts @1.85
#shortcallspreads ANET
I’m no chartist but it looks like 300 is resistance, sold April 20, 310/320 for 1.75
#VXXGame Added a couple positions on the assumption volatility will remain a bit elevated.
Sold $UVXY April 20th 14 put for 1.05
Sold $VXX Apr 13th 38.5 puts for 1.10
#shortcalls
$EXAS STO 3/23 49.50 calls at .80 Thank you @honkhonk81
$LABU STO 3/23 95 calls at 2.70 Covered
We were all early selling puts on this one. Looking like a decent buying opportunity… I can’t imagine their current troubles will greatly effect profits, but they are taking a bigger toll than I expected.
#CoveredCallCampaign Closed on GTC order: $FB April 6th 190 call for .18. Sold for 1.85 on March 5th.
#Earnings Selling $FDX March 23rd 240/270 #ShortStrangles. Legging in… so far filled on some 270 calls at .50. Order in for 240 puts at 1.20. This strangle leans bullish based on historical performance on earnings.
Biggest UP move: 11.8%, Biggest DOWN move: -4.5%, Average move: 3.8%. My strikes are about +6.7% and -5.1% OTM.
Rolled the March 23, 195 calls down to April 20, 180 calls for a credit of 4.45
Position is now 180C, 180P, 175P, and April 20, 180 calls
Finally was able to follow Tabortrader with October 40 covered call, couldn’t get filled a couple times, will pick up a couple nice dividends on the way. TRTN has been beaten down to 31, I’m also short Oct. 40 and 35 puts Ive been rolling.
Cool, nice job Jeff
STO May 18, 135 puts @1.15
STO June 15, 130 puts @ 1.20
#OffTopic When I lived in Los Angeles I never noticed, but now that I live in a place that has winter, this is a special day. Refresh your browser for relief from the gloom.
#shortputs
$AAPL BTC 4/20 195/185 BECS at .80 STO at 1.60 Had a GTC stop in at 50% profit.
Added UVXY put spread
I’ll use this one to reduce basis on SVXY assignments
Bought to open $UVXY Jun 15 16/10 BePS @ 3.20. Position profits 2.80 if UVXY retreats back to where it was (10 at the end of January) by June options expiration.
#ironcondor SPY
Sold May 18, 244/250/283/289 for 1.32
#shortcallspreads TSLA
Sold April 20, 325/330 call spread for 1.78
#VXXGame These are hedged with higher-striked long calls
Sold $UVXY May 18th 20 calls for 2.50
Sold $UVXY June 30 call for 1.75
Sold $UVXY Sept 30 call for 3.30
#SyntheticStock – I normally have to go out a month to roll my short term hedge up 10 bucks (unless volatility is really high) then I can go up 20 sometimes. Today I’m using the volatility pop along with the big pullback to go out just one week and still get most of the 10 point upside. This is more than likely a roll into earnings week also which helps.
Rolled AMZN APR 20 2018 1340.0 Call to APR 27 2018 1350.0 Call @ .75 debit.
#SyntheticStock – It’s these kind of days that make me glad I hedged a little with weeklies. It’s also tough trusting the process of the weekly sales to cover max loss. Looks like we’re gonna learn how it actually plays out over the long run to end of year. As some of these drop the danger of a whipsaw with the weekly hedge grows. I’m planning on selling very carefully and possibly using spreads when selling much below the core and not getting too greedy…mainly just selling near the min required to cover max loss. I’ll probably run through all my positions this week and update what’s needed each week.
Also, I’m trying not to get caught up in P/L YTD….SVXY already blew that. I’m more concerned about actual realized gains represented by positions that are closed…(helps psychologically for sure) 🙂 🙂
On a day like today many of us would normally be throwing out offers on high strike calls on UVXY. I’m going to likely stop (or severely curtail) the naked call selling on this in favor of call spreads that would necessarily have to be quite a bit closer to the money. Just sold this one:
$UVXY Apr 13 18/28 BeCS @ 1.21
#SPXcampaign Stopped: $SPX Apr 13th 2600/2575 put spreads for 3.05. Sold for 1.60 on Mar 14th.
#CondorRoll Sold March 23rd 2560/2585/2775/2800 iron condors for 2.1166, with 1.5x position size. Expires this Friday (hopefully).
Did we reach a low?
#ShortStrangle – Becoming more trouble than it’s worth…LOL
Currently short this week’s 335 straddle @ 16.40
Closing the call and rolling the 335 put into a new inverted strangle (310/300) for next week. Did the whole thing for a .89 credit.
#SPXcampaign Sold to Open $SPX Apr 19th (monthlys) 2825/2850 call spreads for 1.65.
This is a position I originally sold ITM and have been rolling. At the beginning of last week I thought I might get out for zero. Not so much. This time I’m rolling into an inverse condor, with expectation that calls will expire an puts will need to be rolled again.
BTC $SPX March 23rd 2790/2765 put spreads for 23.35. Sold for 22.00 on March 2nd.
STO March 29th 2790/2765 put spreads for 20.25
STO March 29th 2760/2785 put spreads for 3.45
#SPXcampaign Betting that we have another warning today:
Sold $SPX Mar 21st 2710/2735 call spreads for 10.50
Goldman: Tesla shares to drop more than 30 percent in the next 6 months on weak Model 3 deliveries https://t.co/q1PaFtPar7
— OptionsBistro.com (@OptionsBistro) March 19, 2018
https://platform.twitter.com/widgets.js
$TSLA
#ShortPuts – Strictly risk management…
Bought to Close BIIB APR 20 2018 250.0, 255.0, and 260.0 Puts
Sold to Close BIIB APR 20 2018 220.0 Puts @ .30
Made about 50 bucks after commissions. Still like the ticker but feel like I’ve got enough biotech going already…
#RocketManHedge – Rolling my short weekly out and down to Friday. Hedge is out in May so might have to keep easing it down for now…
Rolled SPX MAR 19 2018 2750.0 Put to SPX MAR 23 2018 2740.0 Put @ 2.00 credit
#ShortStrangles – Sold last week on the dip to the 50ma…slightly bigger position so happy to take the 78 cents.
Bought to Close DECK APR 20 2018 75.0/105.0 Strangles @ .52 (sold for 1.30)
#ShortStrangles – Originally sold after the big earnings drop…
Bought to Close ANET JUN 15 2018 175.0/400.0 Strangle @ 2.20 (sold for 6.00)
#ShortStrangles – It’s a day of taking a little risk off in the tickers that were helped by the pullback. Sold these at different times squeezing the strikes in a little so the wider ones were more profitable…
Bought to Close TSLA JUN 15 2018 170.0/510.0 Strangle @ 2.04 (sold for 6.01)
Bought to Close TSLA JUN 15 2018 180.0/500.0 Strangle @ 2.45 (sold for 4.60)
Bought to Close TSLA JUN 15 2018 190.0/470.0 Strangle @ 3.17 (sold for 3.49)
#SPXcampaign Earlier, after we breached 2730, BTC $SPX Mar 21st 2725/2700 put spreads for 6.85, and just now covered the 2790 calls for .15. Sold the #CondorRoll for 8.00 last week.
#VIXIndicator we have gone above the trigger of 19.75. If we close above it, it will be a new assertion of the Downside Warning.
STO May 150 puts @2.68
STO June 140 puts @ 1.98
STO SPX Apr19 2550/2540 Bull Put 0.70
STO FB Apr20’18 155 PUT 1.69
#fallingknife OLED
OLED fell from around 157 to around 120 after earnings on Feb. 22, recovered to about 130 now is down to 106. Big AAPL supplier, maybe not much longer.
Options Bistro 