#ShortStrangles – Let’s see if the gap holds…
Sold NFLX FEB 16 2018 260.0/340.0 Strangles @ 3.30
Category Archives: Uncategorized
#shortputspread ANET Arista Networks Sold…
#shortputspread ANET
Arista Networks Sold 230/240 puts spread for .88 stock is at 280
CELG
#SyntheticStock – Saw it on @smasty ‘s update and like the looks of it. Nice income and a tight squeeze also. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold CELG JUL 20 2018 105.0 Puts @ 9.08
Bought CELG JUL 20 2018 105.0 Calls @ 8.28
Bought CELG JUL 20 2018 100.0 Puts @ 6.65
This gives a net debit of 5.85 for the Jul 2018 position. Add the 5 point max downside and get a max loss possibility of 10.85. Based on that, and the 24 weeks remaining in the trade I only need to average about 45 cents per week in sales to cover the absolute worst case scenario.
So:
Sold CELG FEB 9 2018 106.0 Calls @ 1.11
WYNN
#ShortStrangles – IV still hanging in there. I’ll take a starter to see where it goes…
Sold WYNN FEB 16 2018 140.0/180.0 Strangles @ 3.95
$SVXY
Added 2 more
STO $SVXY Feb 16 $90 put @ $1.07
STO $SVXY Feb 16 $99 put @ $1.75
SVXY
#SyntheticStock – Going for a double dip this week…
Bought to Close SVXY FEB 2 2018 138.0 Call @ .05 (sold for 1.80)
Bought to Close SVXY FEB 2 2018 136.0 Calls @ .09 (sold for 1.40)
Sold SVXY FEB 2 2018 128.5 Calls @ .93
AAOI
#SyntheticStock – Added a synthetic stock position on Friday (Jan 2019 35/35/30) and still keeping my other repair trade. Any decent bounce and maybe I can get out of this sooner. Not happening today though…
Bought to Close AAOI FEB 2 2018 37.5 Calls @ .05 (sold for .35)
Sold AAOI FEB 9 2018 35.0 Calls @ .60
AAPL earnings
SPX
#RocketManHedge – Posting from seat 14F somewhere above and slightly west of @Iceman … 🙂
This sale insures a breakeven on my March hedge….still may eventually roll it around a little more to possibly make a buck or two…
Bought to Close SPX JAN 31 2018 2750.0 Put @ .30 (sold for 3.70)
Sold SPX MAR 16 2018 2725.0 Put @ 13.50
MCD
BTO MCD BF 177.5/180/182.5 .40 #Earnings
Thanks Jeff
#pietrades #coveredcalls EXAS On Dec….
#pietrades #coveredcalls EXAS
On Dec. 14 I sold a Jan. EXAS 48 put, was assigned, sold a 50 call and had it called away over the weekend. I went to sell a 50 put and the volume for Feb. 2, 50 puts is 12,088. Nothing is even remotely close to this in volume or option interest. Earnings are Feb. 19. Cause for alarm maybe?
KSS
STO Feb 9 KSS 65/64 .17 #Bitty
#shortcalls #shortputs UVXY Closed Feb….
#shortcalls #shortputs UVXY
Closed Feb. 16, 12 put for 2.24, this had been rolled, finally became barely profitable
Sold Feb. 2, 13 calls for .28, following a few
NFLX TSEM
SPX calls closed
#SPXcampaign Bought to close $SPX Feb 23rd 2935/2960 call spreads for 2.75. Sold Friday for 1.60. I hope I can wait for extended highs like Friday afternoon in my next attempt to sell call spreads.
CME Fuzzy
BTO January 2020 fuzzy for 15.80 debit. If interest rates are going up, CME should benefit a lot.
BTO 155 calls
STO 155 puts
BTO 150 puts as insurance
MCD earnings
#Earnings #CallButterfly Beautiful trend and decent fundamental. Playing for the trend to continue and to end the week near 180.
Bought to open $MCD Feb 2nd 177.5/180/182.5 call butterflys for .40. Max risk: .40. Max gain: 2.10. Breakevens: 177.90 and 182.10.
Biggest UP move: 9.4%, Biggest DOWN move: -7.7%, Average move: +/- 3.2%. Upside bias: +1.3%
SVXY
STO April 20, 75 put @ 2.83
$SVXY
Added a couple more
STO $SVXY Feb 2 $105 puts @ $0.50
STO $SVXY Feb 9 $85 puts @ $0.45
#bearcallspreads $UVXY Sell to open…
#bearcallspreads $UVXY
Sell to open Feb 02 11/16 bear call spread. I like to see what ROI is on these triple ETF/ETN instruments. I have noticed when ROI on ATM buy writes exceed 5% it is very unlikely to be called away. SO This one presently offers a 7.74% ROI. I limit my margin/risk by employing a spread. Let’s see if it doesn’t turn down later today or tomorrow.
SPX puts sold
#SPXcampaign Sold $SPX March 2nd 2725/2700 put spreads for 1.55. Staying long and strong.
Rolling NFLX again
Rolled $NFLX Mar 9 275 calls out to Mar 16 260/290 strangle for .70 credit. Watching closely. I may pull the rip cord if this goes much higher.
$SVXY
Did a little short term nibbling this morning
STO $SVXY Feb 2 $11o puts @ $0.60
STO $SVXY Feb 9 $90 puts @ $0.40
STO $SVXY Feb 16 $95 puts @ $1.15
STO $SVXY Feb 23 $85 puts @ $1.00
WYNN
STO January 2019, 90 puts @2.05, I am shocked that there is gambling going on in Vegas.
10year
The 10 year treasury is above 2.70%
Econ Calendar for week of 1/29/18
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated.
JOBS report is Friday at 8:30am ET.
Jan 26 #Fuzzy I didn’t…
Jan 26 #Fuzzy
I didn’t do a post last Friday….here’s a couple things that happened:
1. IP had a price spike and took out my GTC order for 40% profit on a Gorilla Fuzzy, it has earnings this week.
2. I got uncomfortable with the panic buying into the close so I closed my small DIA Fuzzies for $600 profit
3. A couple new Gorilla Fuzzies: TSEM Feb 34/34/32 for .70 APH Mar 90/90/85 for 2.80
4. New CAT hedged Fuzzy: Apr 165/165/160 for 7.00 Hedged w/ Feb 2 170 for 1.48
5. New CELG hedged Fuzzy for range-bound income: Apr 105/105/100 for 4.87, Feb 2 109 -.74
6. I removed the hedge on my SPY Fuzzy Bear in preparation for a drop (that seems to never come).
I still have Fuzzy Bears on QQQ and SPY, I have short delta trades on HD, PVH, ADBE, MNST (whoops my MNST short delta looks like toast)–just looking for stalling action on those.
Closed Fuzzy Profit for the quarter (including a few weeks in Dec): $49,333. Any longs I take now are smaller and tighter, get closed for profits quickly.
Good morning
Something about this market does not smell right. Look at the SVXY and even though the market goes higher, this is going down. The RSI is below 50 and the volume on the down days is quite high.
TRTN
Trading high yielding #ShortPuts and #CoveredCalls a walk through of the basics from doubledividendstocks.com
https://tinyurl.com/y9uenhqw
#spycraft BTC /ES 31 DTE…
BTC /ES 31 DTE 2615 put for 2.20. Sold for 5.25 but this was part of a strangle that I had to close the call side on for a loss. Made $5 on it total but still have the 31 DTE 2675 put. Will let it decay another week and close it.
Looking at opening another 2 contracts 47 DTE depending on how the week starts. We get even a little pull back will open strangle. If not, just sell puts, the calls keep getting run over.
Options Expiration for Jan 26
$AMZN Jan 26 1255 puts
$BA Jan 26 350 calls
$BA Jan 26 355 calls
$BA Jan 26 330 puts
$BA Jan 26 310 puts
$FB Jan 26 172.50 puts
$SVXY Jan 26 110 puts
No assignments.
At some point this WTF market has to pull back. Maybe when it gets to Jeff’s 2900 level. 🙂
Have a great weekend everyone.
Options Expiration / More WYNN Trades
#optionsexpiration
Full Profit
$SPX 2575/2590 BUPS
$FB 177.5/185
$FB 172.50/177.50
$WYNN 170/175 BUPS (Whew)
$NFLX 212.50/217.50
Full Loss
$LRCX 207.5/212.50 BUPS Poor management on my part. I was stuck in euphoria (Not Illinois).
#shortputs
$WYNN STO 2/16 170/175 BUPS at 1.40
$WYNN STO 3/16 170/180 BUPS at 4.30
OptionsExpiration
$SVXY $90 puts
$SVXY $92 puts
$SVXY $95 puts
$SVXY $100 puts
SPX Trades
Jan 26 BTC 2 SPX Mar 09 2700(W) at $7.20 near the Close at 3pm(cst)…Sold previously on Jan. 12 for 17.90
60% Win
As earlier, I have the long side open pending further Mkt movement…
Options Expiration 1/26/18
Expiring: $ISRG Jan 26th 410/490 #ShortStrangles, sold yesterday for 3.00.
Fourth week of the year, fourth week higher for $SPX. Run with the bulls.
Have a great WE People
Have a great WE People
Expired DIS 2x
LNG
Closed FB 170/167.5 Feb 2 Earnings had 52.5 net cr closed for .14
Expiration
#OptionsExpiration – Same as last week…LOL
Sizable position so letting it run the distance.
HIMX 10.5 calls (sold for .32)
$rolled calls
UVXY Jan 26 $10 call sold for 0.31 (last 0.01), rolled to Feb 02 $10 for 0.50
$SPX #spxcampaign Bought to close…
$SPX #spxcampaign Bought to close the Feb 9th 2730/2710 BuPS @ 0.30. Filled at the bell. Originally sold Feb 23rd for 0.80.
Expirations, just a small one today
SVXY60 puts
SVXY 65 puts
SVXY 70 puts
SVXY75 puts
$RCL
#Coveredcalls
Yesterday it was looking like I was going to be able to roll these up and out for a nice credit, the move higher today now has them far enough ITM that it’s tough to do without going out in time. So rolled out 2 weeks and we’ll see if we get any sort of weakness that will allow the next roll to be out and up for a credit.
Rolled $RCL Jan 26 $127 calls to Feb 9 $127 calls for $0.50 credit
Gambling With WYNN / Short Puts CAR
#longcalls
$WYNN BTO 2/16 180/190 BUCS at 4.50
$WYNN BTO 3/16 185/195 BUCS at 3.85
#shortputs
$CAR STO 3/16 45 puts @ 2.55
$SVXY #Shortputs Sold Feb 23rd…
$SVXY #Shortputs Sold Feb 23rd 90 Put @ 1.15 with SVXY at 127.57
ISRG
#ShortPuts – Just staying involved in this one…
Sold 1 ISRG MAR 16 2018 370.0 Put @ 2.60
Closing FB puts
Taking this mostly profitable position off before next week’s earnings report.
Bought to close $FB Feb 16 160 puts @ .34. Sold for 1.25 on 1/12.
WYNN
#ShortPuts #IRA – Sold WYNN JAN 18 2019 100.0 Put @ 2.45
WYNN
Uh oh…glad I got out. Could be a great opportunity though. Steve Wynn getting a little handsy.
SPX calls closed
#SPXcampaign Closed $SPX Feb 16th 2920/2945 call spreads for 2.90. Sold this morning of 1.80.
Never fails! Just can’t do anything short in this market. So I lost 1.10 on this one while making about 10.00 on all my eroding put spreads, plus one call spread bought Wednesday for 4.00 and now at 7.25. Today’s action has me doubting what I wrote earlier… it feels more like we need to still grind higher, so I’m going to hold on for another notch up.
SPX Trades
Jan 26 BTC 2 SPX Feb 23 2700(W) at $4.20 earlier this morning…Sold previously on Jan. 12 for 10.20..
Still have my long side open, will sell the 2750 against the 2650 long side on the next intraday pullback…
UNP
BTO UNP Mar16’18 135/135/130 for 1.16, STO UNP Feb02’18 135 calls for 1.09. UNP reported earnings yesterday.
GILD
1 more, closed out the GILD put #fuzzy for $951 loss but not too bad since it is in booster phase at the moment and had set up the #fuzzy as a recovery in the first place. The original loss at the time was $4838 so to I will take the 951 loss and move on. The CC will offset that when it closes in 4 weeks.
Long Calls LRCX
#longcalls
$LRCX BTO 2/16 202.50/212.50 at 3.75
AAOI
#ShortStrangles – Still chugging along in the repair trade. For the first time in months I’m actually having to roll up and out. Earnings not until Feb 21.
Rolled Jan 26 34.5 calls to Feb 9th 35.5 calls @ .37 credit
Bunch o trades, good thing…
Bunch o trades, good thing I had the day out of the office.
I believe everyone here has heard John Carter talk about the “plane trade”. Whenever he is on a plane and cannot trade the market goes haywire. I have the ski and kiteboard trade that is similar but magically did not happen yesterday. The Theta crush was nice, decay was $1400 yesterday and crushed to $40 this morning. So anyway I took it and went flat and used the $ to set up some #pietrades for next week.
First a few observations now that I am into my taxes.
1. It seems my best trades were #pietrades and anything I had basically sold naked or converted to a CC after assignment.
2. #fuzzy trades work well for recovery. Exhibit SWKS dropped 17 points on me after earnings. I rolled as much as I could then converted to a put based #fuzzy when it kept dropping. Managed to close out for $1635 profit today, it could have been really ugly and took about 13 weeks for it to pay off.
3. Getting out of #fuzzy trades is not as profitable as a CC or being assigned the put. The bid-ask on the longer dated options cuts into the profit. When the put assigns or the CC assigns you have basically sucked every penny of time value out of that option. However on a percentage basis synthetics are much better ROC.
4. Finding anything not way extended at the moment is really hard but I found a few for #pietrades
5. Laddering #pietrades usually does not work because you end up getting assigned on all of them at the same time. Better to keep them weekly. There is always something out there with decent premiums and a not too bad looking chart.
SVXY rolled Feb 2 105 puts to feb 110 for 2.92 credits. Sold for 3.42 so if assigned the cost basis will be 104
Did the same for Feb 16 105 to 110 for 2.05 credit. sold for 3.42.
SWKS closed out the final put #fuzzy at 100/102 for 13.10 credit. Made $1635 on the trade after rolling for 13 weeks. Good to be out with earnings next week.
WDC Closed out the put/call #fuzzy 82.5 strikes for 13.32 and 13.15 credits. Total profit $2600 but not great, I was up over 15k on that trade at one point. From now on will take the money early if the profit is there!!!!!!!!!
#pietrades
1. AAPL new CC for next week 165 strike for 163.43 runs through earnings but hope it will close on Friday 2/2 max profit $471 on 3 contracts if it closes.
2. GM 2/2 42.5 put for 0.53, 3 contracts for $156 after commisions
3. GILD open for 28 DTE 72 call is way ITM so will let it expire in a few weeks.
So basically made $627 for this week in income on 2 new trades using a 50k account with some margin. Goal is 900 a week so fairly close. Once the GILD trade closes I think it is possible.
Hope everyone had a good week. Only trade I have until next Friday is the #spycraft /ES puts once they decay a little more.
Cheers 🙂
WDC July put
Sold $WDC Jul 20 65 put @ 1.20
#shortputs #pietrades IMAT Rolled Jan….
#shortputs #pietrades IMAT
Rolled Jan. 26 57.50 put to Feb. 2 for .55 credit, don’t want assignment this week
MU
#Fuzzy – BTC MU Jan26’18 45 calls for 0.02, sold last week for 0.30. My core position is MU Apr’18 45/45/40, paid 0.87. So far have booked 0.85 in premium since opened on 1/02/18. Earnings are March 20. I’m going to leave this unhedged for now, seems like it’s been headed down the runway a bit, hopefully takeoff will be soon??
#earnings #shortputspread AAPL As Jeff…
#earnings #shortputspread AAPL
As Jeff was selling AAPL puts ahead of AAPL earnings next week, Tradewise (TD Ameritrade) followed and sent out a Feb. 16 162.50/165 put spread trade in their “volatility advisory” category. Their premium was .73.
MU
#SyntheticStock – Joining in on this popular ticker. Thanks @mortlightman for the reminder this morning. Saw it on @smasty ‘s update last night too but forgot. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold MU JUL 20 2018 43.0 Puts @ 4.73
Bought MU JUL 20 2018 43.0 Calls @ 5.56
Bought MU JUL 20 2018 41.0 Puts @ 3.77
This gives a net debit of 4.60 for the Jul 2018 position. Add the 2 point max downside and get a max loss possibility of 6.60. Based on that, and the 25 weeks remaining in the trade I only need to average about 26 cents per week in sales to cover the absolute worst case scenario.
So:
Sold MU FEB 2 2018 44.5 Calls @ .60
SPX calls sold
#SPXcampaign Preparing again for a possible pullback. VIX has not been dropping much and we’re getting more signs of consolidation. I remain net long but want to be prepared. So many indicators telling us this thing needs a rest.
Sold $SPX Feb 16th (Friday PM) 2920/2945 call spreads for 1.80.
Sold $SPX Feb 23rd 2935/2960 call spreads for 1.60.
Also, closed on GTC order:
Feb 9th 2660/2635 put spreads for .20. Sold for 1.55 on Jan 10th.
GLD
STO February 16, 134 calls against my long position of 2020 130 calls.
MU
MAT
#SyntheticStock – Earnings next week. If we get a little run up to a flat delta I’ll book it before. Keeping the sale tight and since it’s in an #IRA I have to close before I can re-sell.
Bought to Close MAT JAN 26 2018 17.5 Calls @ .05 (sold for .27)
Sold MAT FEB 2 2018 17.5 Calls @ .85
$SPX #spxcampaign BTC Feb 02nd…
$SPX #spxcampaign BTC Feb 02nd 2750/2730 BuPS at 0.25. This was a late opening position on 1/23 for 0.65. Sort of coming out of hibernation.
NFLX put
#Earnings Sold $NFLX Feb 2nd 260 put for 2.55. Makes up for loss on call side from earnings trade. Expires next Friday.
ISRG
WDC
#Earnings – Getting out while I’ve got a chance…
Bought to Close WDC JAN 26 2018 86.5/93.0 Strangles @ .45 (sold for 1.94)
LNG
STO Feb 2 61 .42 #hedge
KMB closed
Closed $KMB Jan 26th 120 calls for 1.80. Closed the 111 puts for .05 on Tuesday.
Sold the strangles for 1.05 on Monday.
I may look at another strangle to make back the loss, since premium look decent.
Good Morning
Good Morning
$SVXY
No market access again today, but had a couple of GTC orders get hit
STO Mar 2 $80 puts @ $1.15
STO Mar 16 $75 puts @ $1.55
These were following @optioniceman trades from yesterday.
Rolled Up and One Week Out EXAS / Closing Early SPX BECS / Rolled SVXY / Short puts ETE
#shortcalls
$EXAS BTC 1/26 50 call STO $EXAS 2/2 52 call at even
#rollup
$SVXY BTC 2/16 130 call STO 3/16 140 call at additional .50 credit
#spxcampaign
$SPX BTC 2/16 2895/2870 BECS at 6.00 STO 1/17 at 1.80
#shortputs
$ETE STO 2/16 18.50 put at .50 Attempting to acquire stock
Jan 25 #Fuzzy Land and…
Jan 25 #Fuzzy Land and #PieTrades
Another very nice day in Fuzzy Land here. I feel very balanced in the portfolio right now. Hedges are working on the trouble makers. JNJ–nice move today. EA–moved the wrong way but I’ve learned to stay patient on the earnings trades that have a 100% backtest win rate, and I keep them small. AAPL got cut today, when I ran the backtest on it today it only wins 25% of the time for earnings run up, so I was a goof to even have that trade on. BUT I had a pre-earnings trade on for BA today that ran up big in just a few hours. I’ve got a nice mix of shorts and longs. With volatility up, it’s easy to hedge the Fuzzy Bears with a strike that allows beautiful profit even if runover.
1. Closed the FLIR Earnings Run Up Fuzzy for 47% profit, $415
2. Opened hedged SPY Fuzzy Bear Feb 284/284/285 @ 2.54 Jan31 280 hedge @.53
3. Closed AAPL pre-earnings fuzzy for net $1115 loss….BUT
4. Opened BA pre-earnings fuzzy and closed it 3 hours later for $2100 profit
5. Rolled MU Hedges to next week, and opened a new MU Fuzzy (Mar 43/43/41 for 2.22). I’ve collected a net $4200 in MU hedges…MU can be a little dramatic (like a toddler in a store), but that’s what makes for nice premium to sell for hedges. So MU is now in 3 of my 4 accounts.
6. VIX I compared long calls to a long fuzzy for VIX…remember the grocery store question? ATM Fuzzy costs the same as $2 OTM long calls, with higher deltas on the Fuzzy for better performance. So I opened Mar 21 12/12/11 Fuzzy, unhedged, for 1.57 as an overall hedge. I’d like to layer more of these in as vol/price drops.
7. AMTD, there’s a sell program going on in this ticker, I’ve got lots of cycles in front of this for hedges, so rolled today from 58 to 56 calls. There was a LOT of call buying on this today, probably due to ETFC reporting. I didn’t see the call buying affect price though, like it usually does. It’s sitting on a 50% retracement here. I’m grateful for protective puts + hedges for a nice counterbalance.
8. Added 2 small-lot DIA unhedged fuzzies at the bottom today. Feb 263/263/261 @ 2.45
9. Added MGM pre-earnings run up Fuzzy (early I know) Feb23 36.5/36.5/35 for 1.13
10. Although not technically a fuzzy since it was a synthetic only, I made 422% on a BX-synthetic, buying yesterday at .09 and selling today at .47. 5x my entry price. That was an earnings run up play.
11. PieTrades: so far my only ticker is LMT for this campaign. Sold 327.5 puts on Monday, was able to cover 1/2 of them today for .05. I assume other half tomorrow morning. That will equal $680, thanks @hcgdavis LMT reports Monday morning, so Monday or Tue next week will be good for the next round.
Closing LUV
Bought to close $LUV Feb 16 58/67 strangle for .90. Sold yesterday for 1.15.
#Earnings
Options Bistro 