#OT Henry at SMM posted a tweet from T. Boone Pickens “At 89, anything with the word “crypt” in it is a real turnoff for me.” Very nice.
Category Archives: Uncategorized
TEVA
#CoveredCalls – Sold covered stock at 14.97. DITM 15 strike calls not really rollable so closing it and saving exercise fees. Small loss….stock basis of 15.08 on a few shares…
#coveredcalls $SVXY buy at $133.57,…
$SVXY buy at $133.57, sell Jan 19 $134 call for $2.02, if exercised 1.86% ROI
Rolling already
#SPXcampaign #Rolling #CondorRoll Already rolling the call spread I sold this morning.
Closed $SPX Feb 15th 2870/2895 call spreads for 3.25. Sold this morning for 1.80.
Sold Feb 15th 2890/2915 call spreads for 1.50.
Sold Jan 22nd 2780/2755 put spreads for 2.10.
EXAS
STO July 20, 30puts @1.20
GLD /GC NUGT
Somebody dumping some gold all of a sudden…
Short Puts BABA
#shortputs
$BABA STO 2/16 175/180 BUPS @ 1.90
Closing Early STZ Puts
#shortputs #earningstrade
$STZ BTC 1/19 220 puts @ 1.20 STO @ 2.35 on 1/4
Still holding $STZ 1/19 210/220 BUPS
WYNN
#ReverseRolling – I’ve been in this thing for a year just selling and rolling. It’s been a sweet ticker with great premium but really running now. Closing the last of my short puts and reverse rolling the DITM short calls to very bullish bull put spreads.
Bought to Close 3 WYNN JAN 19 2018 170.0 Puts @ .25 (sold for 9.00 accumulated after a couple rolls)
Reverse Rolled the calls for $270 total credit (.54 per new spread avg) but had to increase size from 3 closed to 5 open to get the credit.
Bought to Close 3 WYNN JAN 19 2018 140.0 Calls
Sold 5 WYNN FEB 16 2018 200.0/170.0 Bull Put Spreads
Now the big picture:
Aggressive put selling for last few months has now brought in $8343 in premium. That was for 3 contracts but now has to be spread over 5 contracts giving me a basis in the new position of:
200/170 BuPS @ 16.68
If WYNN rallies then it’s all good. If WYNN tanks I’ll roll all of this into #Fuzzy positions wherever the stock finally ends up. Breakeven on the spread of 183.32. Anything around that and I’ll have to decide whether to roll or go #Fuzzy
Whew!
guess it is a Rocket Ship
#SPXcampaign Sold to Close $SPX Jan 19th 2765/2785 call spreads for 18.10. Bought for 3.20 on Jan 10th.
Ripping up again. The 2 call spreads I sold earlier have each gone against me by 50% already. I’ll hold overnight but will have to consider rolling if the rally continues tomorrow.
VXX put sold… yep, you read that right
#VXXGame #LongPutDiagonals #SyntheticShortStock
Sold $VXX Feb 16th 25 put for 1.15. Just trying this out ahead of some possible consolidation. I will NOT let this go ITM, but I would like to chip away at some of the loss I took in selling puts months ago. I forgot to sell some short term calls yesterday, which I had been planning on a spike.
Closing Early EGBN
#longcalls
$EGBN STC 1/19 55 call @ 7.00 BTO @ 5.30.
Allowing the companion 1/19/55 put to expire. (I hope)
It is so nice when companions cooperate.
Thank you @honkhonk81
AA earnings
#Earnings #shortstrangles
Sold $AA Jan 19th 53.5/59 strangles for 1.00. Biggest UP move: 9.5%, Biggest DOWN move: -11.4%, Average move: 4.8%. Expected move is 2.98. So this strangle is a bit aggressive, being inside its expected and historical moves. But I also noted that many of the post-earnings moves could be faded on the first day, and that the moves have been smaller in recent quarters. In any case, totally manageable at the stock price of 56.20.
SPX hedge through April
With my current #RocketManHedge looking like it has a good chance of turning a decent profit ( in spite of moving against me from almost the first day) I’m adding another out about 90 days.
#SyntheticShort out through April expiration…
Synthetic short stock with a protective call. 49.00 debit with max loss of 59.00:
Sold SPX APR 20 2018 2800.0 Call @ 57.55
Bought SPX APR 20 2018 2800.0 Put @ 54.90
Bought SPX APR 20 2018 2810.0 Call @ 51.65
With 13 weeks for the trade to run need to collect 4.55 per week to cover the max loss so:
Sold SPX JAN 24 2018 2785.0 Put @ 8.00
Rolling MHK
#longcalls
$MHK STC 1/19 260 call BTO 2/16 270 call at 6.00 credit. Second roll for this trade. Have taken out total of $15 in credits.
NUGT new highest strike in June
Sold $NUGT Jun 15 54 call @ 2.30
SPX calls sold
#SPXcampaign Sold $SPX Jan 26th 2820/2845 call spreads for 4.25. Provided we’re not on another rocket ship higher, this should be closable within a couple days.
Rolled FB Jan 29 to…
Rolled FB Jan 29 to Feb 2 170/167.5 .39Cr now total credit is .21+ .39 =.60 – 7.50 comm
Rolling SVXY
Buying Time
$SVXY BTC 1/19 97.5 put STO 3/15 105 put at 3.40 debit. Still up on trade but ……
Rolled IWM #Hedge Jan 29…
Rolled IWM #Hedge Jan 29 160 Call to Feb 2 .31 reduced cost debit
Feb EXAS
Sold $EXAS Feb 16 45 puts @ 1.85
$SVXY $UVXY
I entered some orders before the open as the day job was going to keep me away from the market.
These were the fills I got.
$SVXY Jan 26 $92 puts @ $0.60
$SVXY Jan 26 $90 puts @ $0.40
$SVXY Feb 2 $95 puts @ $0.80
$SVXY Feb 16 $85 puts @ $1.35 (added to position)
$UVXY Mar 16 $19 calls @ $1.05
$UVXY Mar 16 $9/$11 call spreads @ $0.51
Would have done better if I had been able to watch the market. @optioniceman got some great fills.
AMZN
#SyntheticStock – Using this little dip to get my core up to the 50ma. Eventually the weekly will become rollable again. Goal is to get it expired or closed for minimal debit at some point.
Rolled June 2019 1100 synthetic up to 1150
Rolled June 2019 700 disaster put up to 760
Rolled Feb 2018 1060 call up to 1110
Did it all for a 2.84 debit. I’ll take that out of the 40 points of weeklies sold earlier…
$SVXY #ShortPuts Sold to open…
$SVXY #ShortPuts Sold to open Feb 9th 110 Put @ 3.00
#shortputspread #bitty FB After FB…
After FB dropped the other day I sold a Jan. 19 170/175, looked good yesterday, flirting with 176 now, decided to take the small loss
VIX
It seems strange that the market is up and the vix is also up. There seems like there is a lot of volume in the SVXY again.
#Bear call spread $BABA Buy…
#Bear call spread $BABA
Buy to close Jan 19 190/200 calls for $0.15, sold Jan 9 for $2.15,
freeing margin to sell $UVXY calls.
GILD rolled 16 DTE 76…
GILD rolled 16 DTE 76 put out a week and up to 77.5 for 0.86 credit. Sold for 4.15 off a bunch of rolls and has now been converted to a #fuzzy. It was down to 0.25 and going skiing tomorrow so will not be trading.
Bitcoin…
What’s the best TOS ticker to follow?
STO IWM Feb 16 157/157/155…
SPX calls sold
#SPXcampaign Back in the call game after the Upside Warning was canceled.
Sold $SPX Feb 15th (monthlys) 2870/2895 call spreads for 1.80.
Good Morning
Good Morning
Good morning
The market is up again which is fine with me. I have a large expiration on Friday. I don’t believe we can go another year without a correction.
I ran a little experiment…
I ran a little experiment for about 8 months last year, did not post because I was not sure how it was going to work out but here is another easy to manage, high return tactic. I got this from options income blueprint. I do not subscribe to this particular branch of it, but easy to understand and I reverse engineered it using different names. They were using AAPL, LNG, and GILD.
It is called perpetual income engine. Very simple, take about 2-5 stocks that tend to stay in a range with good option premium. Start by selling a 1 week put either ATM or 1 strike below. It is either assigned or is not. If it is assigned immediately take delivery of the stock and then on Monday sell the ATM or 1 strike out of the money covered call. If not assigned, then sell the next week put. It is very easy to implement and does not take much time.
I used 3 tickers last year, TSO which has since become ANDV, XBI, and WDC. As I am starting to review my trades from last year for taxes, I see how effective it was. It takes a while to sort everything out but the results were impressive given the simplicity.
8 months, 3 contracts each name so only tying up about 50,000 of capital earned a 57.7% return. Annualized 86.55% return. Pretty impressive given the simplicity. Obviously I will keep this going and will start posting my trades now. They will be known as #pietrades.
I do not have all the numbers yet, but the last year appears that naked puts and strangle selling was the most effective, followed by PIE trades, and a very close third goes to #fuzzies based on return on capital. However the #fuzzies worked the best for recovery of positions that went really bad. Not surprisingly given the one-sided market credit spreads did not do as well last year.
I am always looking for the most efficient way to use capital, make money, and give me more free time. Based on these results I will probably focus on those 3 strategies most of this year and will add in the occasional #spycraft when the volatility is decent.
Jan 16 #Fuzzy Land This…
Jan 16 #Fuzzy Land
This was a day about luck for me. I woke up with the thought that I really want to cut down tickers so I can have a stronger focus on fewer positions. The market opened strong, and I had a chance to close some fuzzies for nice profits. I closed CELG (my now oldest Fuzzy), MNST, ADSK, MCD, NVDA, BABA (BABA captured a quick $2150 profit before tanking, really lucky on that one), COST. My total net profit now on CLOSED fuzzies is $45,741 in about 5 weeks. That was the good news of the day.
I also opened the day pulling off hedges on all my SPY and QQQ Fuzzies. Of course, they were net debit to remove, and then the market had it’s little sell off. As the market was selling off I set up new non-hedged fuzzies in IWM and DIA and parked them with “blue sky” prices. I kind of lost track of them and the blue sky prices hit. So on IWM I have Feb 158/158/155 for 1.34 and in DIA Feb 259/259/256 for 2.00. So lots of index fuzzies right now with no hedges on. I also have a new non-hedged GLD fuzzy Feb 127/127/124 @ .72.
Fuzzy seniority now goes to MU as my oldest position.
CELG is a pretty good story about the power of fuzzies. That one was set with a $110 synthetic. Since setting it, the stock has fallen to a low of 101. I’ve kept it hedged constantly, sometimes with debit rolls, sometimes beautiful weekly profits. So despite CELG falling from $110 to the low 100’s I was able to net out $764 (on a 10-lot). And honestly, I didn’t do nearly as well as I could have. I’d give myself a C+ in managing it.
I have my very first Trader’s Almanac. Fun little book! It shows tomorrow (Wed) is the strongest day of the month, historically. If that ends up being the case, I’d like to peel back on some of the index fuzzies that I have.
Closed Early RTN GLD
$RTN STC 2/16 185 call @ 12.89 BTO @ 9.20
$GLD STC 1/19 121/126 BUCS @ 4.80 BTO @ 2.10
MGM
#SyntheticStock – Followed Fuzzy’s lead on this one and closed it out, my net delta was around zero after the stock blasted off. BTC MGM Jan26’18 34.5 calls for 1.88, STC MGM Jan’19 +32call -32put +27put for 5.46. After all said and done made 2.81 per contract on this trade, unfortunately only had 2 contracts as I put this one on back before I became a believer 🙂
SVXY
Someone is leaning on the SVXY. The volume is 3 times the 10 day volume and almost twice the 90 day volume. Time to be careful.
#earnings #ironcondorGS From TDA’s TradeWise…
#earnings #ironcondorGS
From TDA’s TradeWise Jan. 26 247.50/250/257.50/260 for .95
Filled @ .78
DGX IBM NVDA T TAP
#ShortPuts #IRA – Cleaning up some of the most profitable positions that I feel aren’t worth holding for months to get the last few dollars. Lots of dry powder now…
Bought to Close DGX MAY 18 2018 85.0 PUT @ .85 (sold for 3.20)
Bought to Close IBM APR 20 2018 140.0 PUT @ 1.04 (sold for 4.30)
Bought to Close NVDA JUN 15 2018 140.0 Put @ 1.27 (sold for 4.00)
Bought to Close T APR 20 18 35.0 PUTS @ .85 (sold for 1.47)
Bought to Close TAP APR 20 2018 70.0 PUT @ .32 (sold for 1.53)
Bought to Close TAP APR 20 2018 75.0 PUT @ .80 (sold for 2.64)
SPX puts sold
#SPXcampaign Sold $SPX Jan 24th 2775/2750 puts for 6.70. If this one looks to be in trouble tomorrow (one week from expiration), I will roll it.
Cancelation of the upside warning does not necessarily mean that the bull run is finished. But it may mean a slowing of the momentum. I will look to try some call spread sales on the next up day.
STO
Short Puts CBOE GS / Long Calls FB GS CMG / SPX Campaign
#shortputs
$CBOE STO 2/16 120/125 BUPS @ .80
$GS STO 1/19 250/255 BUPS @ 1.00
$GS STO 2/16 240/250 BUPS @ 2.00
#longcalls
$FB BTO 1/19/2019 175 call @ 24.10
$GS BTO 2/16 325/335 BUCS @ 5.98
$CMG BTO 2/16 BUCS @ 4.40
#spxcampaign
$SPX STO 2/16 2640/2665 BUPS @ 1.40
Upside Warning canceled
#VIXIndicator The VIX just exceeded 25% above the 2-day closing low, so that cancels the Upside Warning. Under my revised rules, we do not get a downside warning unless we close above 12.35.
In recent months these spikes intraday have been bought. I have no reason to feel this would be different, provided we get the normal afternoon bounce. It was a beautiful morning as I had 3 put spreads close for pennies. If we find a low and bounce, I will be looking for more positions to get long the market.
SVXY
#ShortPuts #IRA – Adding one more…
Sold SVXY MAR 16 2018 90.0 Put @ 3.50
#SyntheticStock -Taking a small shot…
#SyntheticStock -Taking a small shot for fun. Pretty low risk and leaving room to add…
Sold SVXY JAN 18 2019 135.0 Puts @ 40.74
Bought SVXY JAN 18 2019 135.0 Calls @ 39.52
Bought SVXY JAN 18 2019 132.5 Puts @ 39.18
This gives a net debit of 37.96 for the Jan 2019 position. Add the 2.50 point max downside and get a max loss possibility of 40.46. Based on that, and the 52 weeks remaining in the trade I only need to average about 78 cents per week in sales to cover the absolute worst case scenario.
So:
Sold SVXY JAN 26 2018 139.0 Calls @ 1.85
SVXY
#ShortPuts #IRA – Adding one more…
Sold SVXY FEB 23 2018 105.0 Put @ 3.09
UVXY calls
#VXXGame Followed @optioniceman and sold $UVXY March 16th 15 calls for 1.15.
I was looking to follow @fuzzballl‘s $SVXY 110 Feb puts, but broker wanted 11K in margin to sell a 3-dollar put. That’s the problem with being long so many $VXX puts on portfolio margin…. broker doesn’t want me to get short more volatility. But UVXY was more reasonable, only charging 1.5K for each 1.15 option.
#bullputspreads STO SPX 2 MAR…
#bullputspreads
STO SPX 2 MAR 18 2695/2595 BuPS @7.00
SPX puts sold
#SPXcampaign I sold a normal 5-week spread and an aggressive 10-dayer.
Sold $SPX Feb 15th 2675/2650 put spreads for 1.50.
Sold $SPX Jan 26th 2790/2765 put spreads for 8.20.
#spycraft alternative. While waiting on…
#spycraft alternative. While waiting on SPY to show better prices, the /ES is showing better prices with the slight increase in VIX.
1 contract (sticking to the initial guideline) STO 1 /ES 43 DTE strangle at 2615 put and 2910 call for 8.0 credit.
Plan is to take it off at 25-50% profit hopefully in 1-3 weeks.
#coveredputs ANF I’m short 100…
#coveredputs ANF
I’m short 100 shares of ANF from a strangle gone wrong, sold Feb. 16, 17 put for .30, gets basis to 17.90, thought Amazon was wrecking these retailers
SVXY
#IRA – Sold SVXY FEB 16 2018 110.0 Put @ 3.00
MGM
#SyntheticStock #IRA – Nicely profitable and overall delta almost to zero so time to bail out. I’d maybe hang around a little longer but the size was a little bigger than I’m used to so walking away.
Closed synthetic stock and weekly calls @ 1.62 net credit.
Weekly premium sold added up to 1.60
Total credit of 3.22 with trade entry of 1.42 so net gain of 1.80
$SVXY
Morning all. I haven’t been doing much as I’m committed to a set gig I took on for an Escape Room start up. Probably another 2 months to complete the build and get it installed. I closed my SVXY Jan 19th 130 Puts @ 1.31 when SVXY was at 135.13. Originally sold for 2.00 Jan 8th.
EWZ
#SyntheticStock #IRA – Up near resistance now so instead of rolling I’m booking the winner and waiting for a better entry…
Sold Jan 2019 40/40/35 Synthetic Stock @ 5.69
Bought to Close EWZ JAN 19 2018 40.0 Calls @ 3.25
Weekly premium sold of 1.85 plus closing credit of 2.44 for a total credit of 4.29. Trade entry of 3.00 so nice net gain of 1.29 in spite of my weekly sale getting blown through…
SPX
#RocketManHedge – Been selling aggressively against this one so almost back to even with 2 more months to run. Rolling aggressively here to see if 2800 is new support.
Rolled SPX JAN 19 2018 2750.0 Put to SPX JAN 19 2018 2790.0 Put @ 4.00 credit.
Position is now 38.00 premium received against a 54 max loss position. Only need about 2.00 per week going forward to break even on what turned out to be a useless hedge…
Can’t be bullish enough
#SPXcampaign
Closed on GTC orders:
$SPX Feb 2nd 2620/2595 put spreads for .20. Sold for 1.50 on Jan 3rd.
$SPX Jan 22nd 2740/2715 put spreads for .40. Sold for 7.50 last Wednesday.
Waiting for at least a morning minor pullback to add more… will we ever go down again?
SPX puts closed
#SPXcampaign Closed on GTC order in pre-market: $SPX 2740/2715 put spreads for .40. Sold for 6.85.
Bitcoin Come and Get Them
http://mailing.eletters.whatsnewnow.com/t/3620324/84688/8534505/15/?e5e2987d=MzYyMDMyNA%3d%3d&c73c8e04=d2hhdHNuZXdub3c%3d&4f415564=ODQ2ODg%3d&x=b2c26d04
Turbocharge your Fuzzy!
#Fuzzy #SyntheticStock – No that’s not another California wildfire you smell…it’s me thinking! I’ve got a small list of tickers that I would be very interested in adding a Fuzzy or synthetic position to. With earnings coming up on all of these I was considering selling some aggressive puts down in areas I would like to add the Fuzzy anyway. Kinda like selling puts to acquire stock and then writing covered calls.
Since I tend to have bigger synthetic positions than I would with real stock, these put sales look like they could be quite profitable if the stock doesn’t happen to pull back enough. Another option would be to sell spreads too…then if the stock implodes the Fuzzy wouldn’t be down hardly any at all when it gets set. Or…sell naked puts at half size and then if the stock implodes add the other half down at that level. Either way…just roll the loss into the basis of the Fuzzy if the stock really drops…otherwise enjoy the huge gains from the put sales.
For example, one of my all time favorites is NVDA. Great premium and easy to roll. I would really be interested in going long starting down at the 200 level and adding below that. Let’s also assume that a 6 lot would be my max synthetic size.
I could sell a put ladder starting at 215 (or anywhere depending on appetite for risk) and then every 5 points below that down to 190. Premium would be about 19 dollars. Great trade if the stock rallies. If the stock tanks then put the synthetic on there while rolling the put sales into the basis. Obviously the trade would start out underwater similar to covered stock…which is ok. Plenty of time to sell weeklies to eventually profit.
I guess the point of this whole thing is that there may be some tickers you like that won’t come back enough to get an entry point. Selling the puts while waiting could pay off quite nicely too.
At least with the market…
At least with the market closed today we get one day where it does not go straight up, but futures are looking that way.
Does anyone here use TastyWorks?…
Does anyone here use TastyWorks? And how do you like it?
Econ Calendar for week of 1/15/18
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated
Short Trading Next Week
US Stock Market Holidays
All major US stock exchanges (NYSE, NASDAQ and American Stock Exchange) follow the same holiday schedules as listed below. There is no insider trading reporting in these market holidays.
2018 US Stock Market Holiday Calendar
2018 Market Holidays Date
New Year’s Day Monday, January 1, 2018
Martin Luther King Jr. Day Monday, January 15, 2018
President’s Day Monday, February 19, 2018
Good Friday Friday, March 30, 2018
Memorial Day Monday, May 28, 2018
Independence Day Wednesday, July 4, 2018 (1)
Labor Day Monday, September 3, 2018
Thanksgiving Day Thursday, November 22, 2018 (2)
Christmas Tuesday, December 25, 2018 (3)
Note:
(1) The market will be closed early at 1:00 PM on Tuesday, July 3, 2018 Eastern Time.
(2) The market will be closed early at 1:00 PM on Friday, November 23, 2018 Eastern Time.
(3) The market will be closed early at 1:00 PM on Monday, December 24, 2018 Eastern Time.
Also note that Monday, October 8, 2018 (Columbus Day) and Monday, November 12, 2018 (Veterans Day) are federal holidays and there are no insider trading reporting.
http://www.insider-monitor.com/market-holidays.html
Picture Worth A Thousand Words
Jan 12 #fuzzy Fair question…
Jan 12 #fuzzy
Fair question on the last post about risk. I’m always VERY concerned about risk. Being concerned about risk cost me a LOT of money this week. I’m planning to open a shelter for battered hedge sellers. I have a feeling a few folks here will be standing in line with me. I’ve had a wonderful start to the year. Except that I probably lost 20K in hedge rolls this week. But here’s what I’m doing to address risk: I’m closing fuzzies every few $ move up in underlying, taking the profits and resetting them. They are being reset smaller and tighter. Much as I would like to stay unhedged, I just can’t. So my Fuzzies are smaller in size, tighter in spread, and still hedged. So I’m not making as much as my brave hedgeless friends, but I know I can handle a crash. Fuzzy design started for me with $10-wide protection on the puts. Now they are all $3-$5.00. Also by closing and rolling them frequently, the long puts are retaining most of the their value.
The net on my CLOSED fuzzies is now $38,615. So that’s a nice crash cushion.
Current amount of hedges on open positions net collected and sold: 18,770.00
Just some highlights:
1. Closed TGT due to runaway hedges for net $870, but 300% on the core
2. Closed and reset all the Q’s with tighter puts for a net of $4235
3. Closed AAPL for a net of $3300.00 due to older design with $10.00 spread risk
4. New MU Fuzzy on the recent dip, nice weekly premium Mar2 43/43/41 @1.77 w/ 44.5 call hedge
5. New JPM Jun 110/110/105 @ 5.18 with 112 hedge (might be too tight)
6. COST flipped the cards and put on a bull fuzzy here with shored up technicals Mar 190/190/185 @ 5.20 with a 195 hedge due to squeeze and “RAF buy” indicator
7. SPY is all reset with 277/277/274 with hedges
Hey….Remember “SPX Guy?”(ok, maybe not a guy) On January 2? The guy that did the 5000 Risk reversal in SPX? I’ve been tracking that trade just for fun. How would you like $30,975,000 in 9 days.
I’m very happy to have this 3-day weekend! Hoping rest and recharge for all of you, too!
Expirations / XHB Closed Early
#optionsexpiration
$AAPL 165/175 BUPS
$AMZN 1050/1100 BUPS Thank you @jsd501
Early Close
$XHB STC 1/19 41 call @ 5.25 BTO @3.15
Have a great two and a half day weekend.
OptionsExpiration
$SVXY $65 puts
Other trades today
Closed Jan 12 $UVXY $8/$9.5 call spreads @ $0.60 (sold for $0.75) made lunch $
$DWDP Rolled #CoveredCalls from Jan 12 $71 to Feb 2 $71.50 for even, last of my stock so holding a bit longer
$RCL Rolled #CoveredCalls from Jan 12 $125 to Jan 26 $127 for @0.61 credit.
Expiration
Sizable position so letting it run the distance.
HIMX 11.5 calls (sold for .27)
#bitty FB Jan. 19 170/175…
#bitty FB
Jan. 19 170/175 BuPS for .60
SWKS
This was a busted #ShortStrangles that I turned into a #CoveredCalls position. After selling for quite a few weeks I’m using this bounce to book it for a .10 loss. Happy to be out and freeing up some room for earnings season.
Sold to Close SWKS Covered Stock @ 99.23 (bought for 99.33)
Closed UVXY synthetic
#SyntheticShortStock #LongPutDiagonals
Took the cue from @fuzzballl and closed one of these (I originally had 2). Can’t make a whole lot more on this since we’re getting closer to zero on the stock.
Closed $UVXY Jan 2019 positions:
Long 30 put, Short 30 call, Long 40 call for 23.91.
Bought for 17.10 on Aug 17th.
That’s a $6.81 profit, BUT I also lost $818 total in the attempt to sell short-term puts. Since I had 2 positions, that’s a $409 loss for each, so profit on this one is $272.
As for the other one, I previously closed the call spread for 1.60 (on Dec 20th), and I put in an order to close the remaining long put for 24.50, which price is already near. That would mean a $171 profit on that half.
I am keeping my $VXX version of this open, since the stock is still at 25.75 so my long 20 puts still have a lot to gain. I have closed a third of my short call spreads, and I added more long puts “naked” anyway, so I’m long 18 puts, currently at 4.68, average purchase 1.77. I lost a bigger bundle on the sale of short-term puts on VXX, but my ending profit on the long puts will make up for it and them some.
I will look to do this again when they launch $VXXB with the 2020 LEAPs. But that time, I will skip the #Fuzzy hedging and just go with the synthetic short.
Leaving early
Only 4 expirations today. I wonder if the big boys are waiting for after the nest expiration to try and sell this market.
SVXY: 60 puts,65 puts,70 puts, and 75 puts.
SVXY
#ShortPuts – In my “SVXY only” account that has done absolutely nothing this year…I’ll follow @hcgdavis ‘s lead and try to shake things up a little. Sort of a #TakeOneForTheTeam trade…
Sold SVXY FEB 2 2018 120.0 Put @ 2.31
Sold SVXY FEB 9 2018 120.0 Put @ 3.20
Options Bistro 