TQQQ Puts Closed / TDOC LVGO Puts / MRNA Calls

#shortputs
$TQQQ BTC 8/14 80 put at .05. STO 7/28 at 1.10. Thank you @jsd501
$TDOC STO 9/4 165 put at 4.30 Thank you @fuzzballl
$LVGO STO 9/4 100 put at 2.00. Just what the @fuzzballl ordered.

#coveredcalls
$MRNA STO 8/14 75 calls at 1.05

EWZ

#DiagonalButterfly

BTC EWZ Aug 07 $32 straddle @ 0.77 (sold for $1.38)

STO EWZ Aug 14 $31.5 straddle @ $1.46

Cover is EWZ Jan 2022 long strangle $27 call / $37 put

Expiration

#optionsexpiration
$NVDA 365 put Thank you @ramie77 via @fuzzballl

#optionsexpiration #assignment
$CODX 27 put Stock basis 25.5

WDC Earnings

#ShortPuts – Adding to my original position…

Sold WDC AUG 21 2020 40.5 Puts @ 2.75

Hello

Long-time lurker, now officially a practicing @fuzzballl apprentice. Looking forward to taking part in the conversations.

Just a few puts and verticals today:
Sold SPCE Aug 28 20.0 PUT @ 1.19
Sold ATVI Sep 18 77.5/77 Bull Put Spread @ 0.63
Sold LOW Sep 18 135/130 Bull Put Spread @ 0.72
Sold HD Sep 18 250/245 Bull Put Spread @ 1.10
Sold SPY Sep 11 310/308 Bull Put Spread @ 0.30

KHC Strangle / NVAX Roll Call / NVDA Put Closed

#shortstrangles
$KHC STO 7/31 34/37 strangle at .86 Thank you @honkhonk81

#coveredcalls
$NVAX BTC 7/31 145 call and STO 8/7 145 call at added $14 credit. Stock at 146

#shortputs
$NVDA BTC 8/7 350 put at .30. STO on 7/6 at 4.40. Thank you @fuzzballl

Taking profits on ULTA

Bought to close $ULTA 8/21 155 puts @ 1.10. Sold for 2.90 on 7/9. Thanks @fuzzballl!

APT Calls / NUGT Calls Rolled / NFLX Put Closed

#coveredcalls
$APT STO 7/24 23 calls at .55
$NUGT BTC 8/21 90 calls and STO 8/21 95 calls for $3 debit. Stock at 98.12
$AAOI STO 7/24 14.50 calls at .40

#shortputs #earnings
$NFLX BTC 7/24 450 put at .40. STO at 4.94. Thank you @fuzzballl for trade and the caution.

MRVL Put / SPY Put Closed

#shortputs
$MRVL STO 7/24 35.5 put at .30
$SPY BTC 8/21 250 put at .28. STO 6/24 at 3.03. Thank you @fuzzballl

Expiration

#optionsexpiration
$EWZ 29 put Thank you @fuzzballl
$WORK 30 put
$T 30 put
$NEO 30 put
$SNAP 21 put
$PTON 55 put
$SPCE 18 put
$MRNA 75 put
$PFE 34 put
$CODX 20 call
$FB 255 call
$PTON 63 call
$SPX 1 DTE Thank you @jeffcp66
$BYND 144/155 BUPS Expired Total loss.
$TSLA 1470/1490 BECS Expired Full full loss
$AMZN 2570/2590 BUPS Expired Full profit
$ZM 190/210 BUPS Expired Full profit

#assignment
$DFEN 18 put assigned. Basis 16.85. Stock at 11.90. Go aerospace, please.
$PFE 36 call called away

Expiration

#optionsexpiration
$LABU 47.5 put Thank you @fuzzballl
$SQ 124 put
$SQ 113 put Thank you @fuzzballl
$MRVL 34.5 put
$PFE 34.5 calls

ROKU Put Closed

#shortputs
$ROKU BTC 6/26 110 put at .05. STO on 6/17 for 2.48. Thank you @fuzzballl

WMT TQQQ Put Closed / Expirations

#shortputs
$WMT BTC 6/19 116 put at .50. STO at 1.03 on 5/18 Thank you @thomberg1201
$TQQQ BTC 6/12 55put at .05. STO at 2.30 on 5/13 Thank you @fuzzballl

#optionsexpiration
$ROKU 114 call
$ROKU 113 call
$RAD 14 call
$NUGT 72 call
$VXX 32.5 call Sold against August @jeff 85 call. Thank you @optioniceman
$TQQQ 60 put Thank you @fuzzballl
$SPY 260 put Thank you @fuzzballl
$AMD 50 put
$SQ 89 put

#assigned
$UVXY 32.5 put. Better sell those shares first thing Monday
#Crushed
Never leave home with an expiring trade
$SPX 6/5 3160/3180 BECS. I had a conditional order placed using Schwab platform. If $SPX bid is 3150 than close at market. Did not fire. Schwab says $SPX has no bid and my order could not work. I said it was their platform
that allowed the trade. They said I would not win in arbitration. Live and learn, I hope.

Expiration

#optionsexpiration
$SPX 2760/2780-2950/2970 1 DTE Thank you @Jeff
$PFE 39 call
$TWTR 31.5 call
$TQQQ 50 put Thank you @jsd501
$SPY 270 put Thank you @fuzzballl

Have a nice Mother’s Day.

SPY SQ puts CLOSED / NLOK Puts

#shortputs
$SPY BTC 5/8 270 put at .06. STO at 1.70 on 4/28. Thank you @fuzzballl
$SQ BTC 5/15 60 put at .10. STO at .85 on 5/6. Thank you @fuzzballl for earnings on this earnings trade.
$NLOK STO 5/15 21 put at .65

CCL Put / SPY Close Put

#shortputs
$CCL STO 5/1 15.50 put at .40
$CCL STO 5/15 16 put at 1.35
$SPY BTC 5/1 267.50 put at .04. STO 4/24 at 1.90 @fuzzballl rocks

UNH

#ShortPuts – Selling the week prior to earnings and down near 2 year lows and just outside the expected move.

Sold UNH APR 03 2020 230.0 Put @ 3.60

CMG TWTR Put Closed / HIIQ Roll Call (Present!)

#shortputs #earnings
$CMG BTC 2/7 820 put at .05. STO at 6.30 2/4.
$TWTR BTC 2/21 30 put at .03. STO 12/30 at 1.20. Thank you @fuzzballl

#coveredcalls
$HIIQ BTC 2/21 24 call and STO 3/20 26 call at added .55 credit. Earnings are 3/5.

LK

BTC $LK 2/7/2020 30 puts @0.35. Was STO 1/27 @1.05.

Thanks @fuzzballl

Expiration / Assignment / Assigned Called Away

#optionsexpiration
#longcalls
$BA $BYND $CRON $ACB Long calls held on to for tooooooo long

#shortcalls
$APA Buy write called away profitably
$PTON 35 Thank you Ramie
HIIQ 25
$PLAN 57.5
$NUGT 33
$ROKU 150

#shortputs
$LK 44.5
$APA 25
$AMRN 19
$NOK 4
$KL 40
$LABU 50 Thank you @fuzzballl
$MRVL 26
LK 38
$NEO 30

#bups
$ROKU 110/120
$SPX 3225/3250 Thank you @jeffcp66

#assignment
$NEO Long call assigned at $30. Basis 30.65. Stock at 32.05.
$BOOT $45 put assigned. Basis 43.15. Stock at 43.65
$EDIT 26/31 BUPS expired in the money when I was not looking. Stock assigned at 31. Basis 29.70. Stock at 30.64

$LABU Finally let it go at $55. Purchased at 50.65 on 4/30. Rolled calls for added gain of 3.70.
$STNE Called away as stock reached 42.04 at end of day and surpassed 42 covered call.

Enjoy the long weekend. Rest clears the mind. I hope. 😉

SVXY Puts Closed

#svxy #Bad memory lane
$SVXY BTC 1/17/2020 puts at .05. STO at 4.40 on 2/6/2018. Thank you @fuzzballl and @jdietz1954

Expirations

#optionsexpiration

Expiring worthless
$FB 190 put Thank you @jsd501
$TTD 230/240 BUPS
$TNA 57.5 put Thank you @fuzzballl
$PLAN 50 put
$ROKU 150 call
$OKTA 117 call
$MOMO 40 call
KSS 65 call

Offsetting my worthless were those costing more at expiration
$TSLA 340/380 BECS
$COST 295/305 BUCS (Wish I had mistakenly switched these two trades);-)
$ROKU 135/145 BUPS

$STNE assigned at 40. Basis 38.40. Stock at 38.01
$LSCC Called away at 40 as it closed at 40.01. (It happens)

Have a great weekend.

KL Covered strangle Rolled / NUGT Puts Rolled / EWZ put Closed / LABU Calls Rolled / CMG BUPS Closed

#shortputs #coveredcalls
$KL BTC 12/20/40 put and STO 1/17/2020 40 put at added .80 credit.
$KL BTC 12/20/45 call and STO 1/17/2020 45 call at added ..65 credit.

#shortputs
$NUGT BTC 12/20/ 35 puts and STO 12/27 34 puts at .75 debit. Spending .75 to get potential .25 “profit”. I have been rolling out and now down since 8/12. Current “profit” is $5200. If put to me tomorrow the profit would be reduced by $3640. Maybe I should just close out.

$EWZ BTC 12/20 40 put at .05. STO at .77. Thank you @fuzzballl

#coveredcalls
$LABU BTC 12/20 45 call and STO 1/3/2020 55 call at $7.90 debit. Basis now 57.04. Stock at 56.24. Close to throwing in the towel. Stock first bought on 3/5/2019. Bad trading. Should have gotten out of stock much earlier and took the loss. Now eight months of rolling and tracking and loss mitigated but the potential opportunity profits lost by capital tie up …duh!

#bups
$CMG BTC 12/20 690/700 BUPS at .05. Sold for 1.65. Thank you @ramie77 via @optioniceman inspiration.

ZM Puts Rolled / PLAN Put / Closed TWTR Put / SPLK YES!

#shortputs
$ZM BTC 12/6 72 call and STO 12/27 73 call at .30 added credit. Rolled three times at 1.95 credit and gained $4.5
if called away. Stock upgraded by somebody with $90 target today.

$PLAN STO 12/20 50 put at 1.75. Part of Covered strangle with 55 call

$TWTR BTC 11/22 32 put at 2.10. STO at 2.81

#earnings
Expire today
$SPLK 115 put STO at 1.25. Thank you @fuzzballl

Close ISRG Jade Lizard / Close OKTA Puts

#jadelizard
$ISRG BTC 8/23 500/505/485 jade lizard for 1.60. STO at 5.67. Thank you @fuzzballl

#shortputs
$OKTA BTC 8/23 135 put at .40. STO 8/14 at 5.60

Expirations

#optionsexpiration
$ZYNE 17.5 call Covered
$NFLX 375 call covered (covered for $16.2 per contract but profit on stock reduced dramatically due to subscriber miss) Will rethink keeping $NFLX stock. Been profitable selling calls but the drop a wake up call.
$PYX 22.5 covered call
$LABU 52 and 49 covered call
$EXAS 120 covered call
$SQ 83 covered call
$HIIQ 33 covered call
$ISRG 500/525/530 jade lizard STO 2.84. Thank you lizard master @fuzzballl
$URI 125/135 BUCS Total loss, did not close before earnings. Went from a 50% of max profit to total loss overnight.

Expirations / Closed Earlies

#optionsexpiration
$FIVE 125/130 BUPS
$NVDA 140/145/175/190 IC STO at $1.57 Thank you @ramie77
$SPX 2845/2865/2970/2990 1DTE STO at 1.10 Thank you @jeffcp66
$BA 320/330 BUPS Thanks again @ramie77
$ISRG 480/500 BUCS Remaining position. BTO at $10.
$ADBE 272.50/277.50 BUCS / STO 267.50 put (Limping Lizard earnings trade) Thanks for all the education from the reptilians out there, especially @fuzzballl
$KNX 30 put
$SQ 65 put Thank you @thomberg1201
$CTL 10 put Thank you @ramie77
$ARWR 18 put
$DHI 44 put
$CLX 145 put
$WK 60 call Covered
$ARWR 19 call Stock called away
$EVTC 30 call Stock called away
$PYX 22.5 call covered – wish it wasn’t

$AMZN 1980 $GOOGL 1190 $NFLX 370 All long calls. All capital gone. When will I ever learn. Do not BUY calls
$FL 50/55 BUPS Total Loss STO at $2.20

#spxcampaign
Closed Early $SPX 6/26 2960/2985 BECS at 7.50. STO at 1.50

Everyone have a delightful weekend. Thanks for all the help you share. May we all have a sumptuous summer.
(A little alliteration) @jeffcp66 Thank you for founding this site for a foundling like me. I love beer on Friday’s. 😉

LULU Jade Lizard

#earnings
$LULU BTC 170/172.5 BUCS at 2.20 STO at 1.15. Will let the put expire and net on trade .85. Thank you @fuzzballl.
And very happy for you and the Blues.

Final Trades and Expirations

#Earnings #DoubleCalendar
Sold to close $NKE Mar22/Mar29 88 put calendar for .02. Holding long 88 calls into next Friday. Good job by Mort closing the put calendar earlier at .17… I just had too much faith. Double Calendars bought yesterday for .49.

Exercising: $TIF 96/100/102 calls #BrokenWingButterfly for 2.00. Bought yesterday for 1.50. Allowing to exercise on IB for about 70 cents in fees per lot, but closed manually for 2.00 on TOS to avoid $45 in fees.

Expired NTES Closed Early NTES FLR Earnings / HIIQ Puts

#earnings #optionsexpiration
$NTES 217.5 put STO at 3.07. Thank you @fuzzballl for the jade lizard. It worked flawlessly.

#earnings Closed Early
$NTES BTC 237.5/232/5 BECS at .20 STO 2/20 at 2.28 completing @fuzzballl lovely lizard.
$FLR Double calendar 38 short straddle. BTC at .95. STO 2/21 at 2.70 Thank you @jeffcp66

#shortputs Yesterday
$HIIQ STO 3/15 40 put at 2.81

NVDA April

Sold $NVDA Apr 18 140 puts @ 3.30. Thanks for the idea @fuzzballl.

Expirations

#optionsexpiration
Full Profit
$SQ 65/70 BUPS
$AAP 140/150 BUPS
$SPX 2690/2710/2810/2790 1 DTE IC I love using codes.
$T 29 Short Call
$FB 165 call (Covered)
$EXAS 85 put
$HIIQ 31 put Thank you @fuzzballl
$HIIQ 33 put
$HIIQ 38 put Thank you @honkhonk81
$TNDM 43 put
$KEM 17 put
$NVDA 140 put Earnings trade

Full Loss
$CRM 145/140 BECS

Closed Early URI Puts / Sold NFLX Calls

#shortputs
$URI BTC 2/15 105 puts at .10. STO at 2.30. Thank you @fuzzballl

#shortcalls
$NFLX STO 2/8 155 at 1,70 (Covered)

#optionsexpiration, adjutements, rolls, new trades…

#optionsexpiration, adjustments, rolls, new trades

#lizardpies
XBI 78/82/8.25 should expire tomorrow for 1.26 profit per contract
AMAT BTC the 39 puts for 0.29 that expire tomorrow. Sold for 0.71 last week. Tradestation so can’t trade until tomorrow. I think I will replace it with a #pietrades 108 CC on IBB currently for around 106.89. Obviously that will be different tomorrow.
FAS STO 56 cc for 54.77 expires in 8 DTE
TQQQ batch 1 50 cc rolled out 22 DTE to 51 CC for 0.26 credit. Cb now 57.04 and will have to stay ahead of the rolls.
TQQQ batch 2 50 cc rolled out 36 dTE 51 cc for 0.55 credit. Cb 57.10 and same as above.

#fuzzy
LNG 50/60 8 DTE rolled out to 22 DTE for 0.3 credit. Cb now 13.26
All the others were updated and expire next 1-2 weeks.

Back to even from the start of the October volatility. Now keep working on getting back to even from SVXY losses. Expect at least another 12-24 months unless everything goes perfectly, hahahaha, yeah that would happen 🙂

Something I noticed about #fuzzy over the last 3-4 months. As long as you keep rolling and generating cash they seem to withstand market volatility better than many other trades. In a few small accounts, I generated almost 50% of the value of the account in cash over that time even though the paper value was steadily declining. Have to agree with @fuzzballl, they are flexible. However, going forward I think I will take profit and then reset as we discussed earlier. I think it would make management easier and also lock in profits and also allow you to move the strikes more effectively as the market moves.

$T puts closed

#PieTrades #ShortPuts Well, was planning to let this expire or take assignment, but I forgot I had entered a GTC order weeks ago. So it just filled.

Bought to close $T Jan 18th 31 puts for .15. Sold for 1.37 on Oct 24th. Following @fuzzballl on this, but I’ll do the same thing again, sell ATM puts a couple months out, and if assigned take the stock (and dividend) and sell covered calls.

Market Tide

#Tide I now have the Market Tide indicators on all my charts. Looks pretty solid. Also noticed that SPY 1-hour chart just printed a purple arrow, signaling a possible top for at least a few days.

Buh Bye NFLX #CostBasisReduction Winner…

Buh Bye NFLX #CostBasisReduction Winner

My NFLX saga ends today…with a bottle of champagne after the close. After the last earnings report when NFLX soared, I got the “great” idea to buy 100 shares at $358 and sell DITM calls for a guaranteed win. Within days there was a massive crash. I took inspiration from seeing @fuzzballl accomplish significant cost basis reduction with patience and perseverance. I vowed I would stick with this until it was profitable. Every single week I sold calls, and bought put butterflies (BWB debit flies). Most of the time they brought in nice credits, there were a few weeks that were debit rolls (debit rolls would step back cost basis those weeks), but I steadily took Cost Basis from $358 to $272. Today I was able to close out the full position for a net $1547 gain.

Market tide

@hcgdavis @fuzzballl
Thanks for recommending this indicator and for going to bat to get us a discount. The indie has paid for itself a few times over already.

#pietrades

Happy New Year!

Hi Everyone! I just couldn’t find a new bread-and-butter trade this year that justified reporting, so I lost track of a lot going on here. I did find some good new approaches though. I found Scott Ruble (Stratagem) to be an excellent teacher on structured courses, but a terrible terrible subscription provider. @kathycon and I have used several of his approaches in the last few months to make money…#AdvancedRiskReversals, #SpikedCollars, #LayeredSpreads, and #RollingThunder. Scott was with Random Walk for awhile before having a falling out. Ed has taken Scott’s place at Random Walk and has a $50/mo subscription service that I quite like. Very reasonable for what you get. Ed’s approach is #PregnantButterflies which layer in spreads in a way to provide wide profit ranges, often risk free. The #RTT (Road Trip Trade) trades at Aeromir are good (BWB), and they manage them very dynamically using a lot of Scott’s teachings. The one month trial of RTT is very worth it. Option Pit is still great….but VERY deep and takes a ton of cerebral work….especially if you think you know it all already (like I did).

The only update I’ll give is on NFLX. I made a solemn vow in @fuzzballl ‘s name that I would stick with this until I was even. I started at $358 a share and am now down to $272….that’s a ton of cost basis reduction! I’m accomplishing this two ways…. 1. using weekly debit wide broken wing put flies (Ed calls them “Venus Flies” for the downside collar, and. 2. using weekly covered calls to finance the flies. As you can see I’m still off the mark on break even….but I’m being mechanical with the income collection and tracking every cent against the cost basis. I’ve only got 100 shares of NFLX so the ride down has been manageable.

Hope we all get what we want from the market next year! This last year is one of those that seriously refines you as a trader. Survive….and you come out a much better trader.

Sue 🙂

#advancedriskreversals

Question for @fuzzballl as I…

Question for @fuzzballl as I am debating closing some #fuzzy for tax purposes or keep them rolling.

Have a few that are way ITM now. Wish I had ratioed them in Oct. but too late now. Since you seem to be the only one with enough patience to take these to the end here are my questions

1. About how long does it take you to scratch the trade one ITM?

2. Seems like the best way to get any decent premium is to sell 43-45 DTE and reset at 22 DTE. Have you found that as well?

3. Once the new series of LEAP comes out does it make sense to roll the longs to the new leap for $3-4 or hang on to the one you have until the end?

Thanks!

I am debating taking some tax losses and resetting vs. hanging with the ones I have.

Alpha Shark Indidcator

@hcgdavis – Hey Chris. I just purchased the indicator for the opening price. Forwarded the email received after purchase to you and Bryan. Thanks!

Since we are on experiment…

Since we are on experiment discussion below again, here is one I have been paper trading. A twist on #pietrades. If we need a new term we could call them #lizardpies.

So obviously with the market rout all my #pietrades went ITM and to prevent a meltdown in margin I converted them all to #fuzzy. Which is great, has controlled the volatility and still have 111 weeks to manage them. But as @fuzzballl points out below, they are expensive. Cheaper than stock but my EXPE puts are now trading at 22.40 and 19.50. Not chump change.

The #pietrade idea is sound for income generation and even some capital gains long term as long as you sell the call ATM or OTM once assigned the stock. You also are typically only selling 1 side and as Karen the supertrader (now scam artist) figured out, selling the other side is what really improves long term returns and consistency. She may have been using some creative accounting but the idea is sound and has been proven by tasty trade.

So here is the tweak I have been playing with. When you set up the trade, start it as a #jadelizard but set it up ATM. For example with XBI currently at 78.02 I would sell the 10 DTE 78 puts naked (cash secure) and then sell the 78/79 call credit spread. Total credit 2.55. No upside risk, downside break even is 75.55 which is lower than where I probably would have just sold the put.

3 possible outcomes
a: below 78 assigned shares on the put at 78 but cost basis 75.55. Can sell a next week call or call credit spread if you think rebound, then uncapped upside
b: Between the strikes max profit and you may be assigned on the call but can exercise your long call if needed.
c: above 79 everything cancels out and you keep the credit minus $1.

Here’s a graph on a 10 lot.

2017-12-01-TOS_CHARTS

I have been trading it on paper and it would have had better loss control on the #pietrades than straight put sales the last 2 months.

Thoughts, holes in the strategy, other ideas to tweak it or make it better? If you wanted to be more conservative could sell strangles OTM instead or straddles ATM on the short sides but then less credit. Since my premise is income, I am trying to bring in as much credit as possible on the front end.

#coveredcallcampaign, #vixindicator

#fuzzy GILD rolled 4 DTE…

#fuzzy

GILD rolled 4 DTE 70/70 out to 25 DTE for 1.02 credit.

Cost basis now 10.31 and still have 112 weeks to manage.

Starting to agree with @fuzzballl, the extra time on these makes it a lot easier to ride out market volatility.

However, I am trying to trade them #pietrades style to keep cash coming in. Seems to work, I doubled my cash balance in the core account with just 2 trades this morning (was not much to start with, only $1100). But now I have enough to add some more contracts somewhere at better prices 🙂

TWLO closed for now

#Earnings This doesn’t appear that it will stop. Of course, once one decides that, that’s where it will stop.
But I’m looking for this to go higher. I looked at the lifetime chart, and every gap up is NOT filled… stock continues higher and never revisits the opening low on post-earnings day. This, however, is a gigantic move. I’m going to look to sell some OTM puts, and then wait for higher prices to try to sell calls or strangles.

BTC $TWLO Nov 9th 85 calls for 10.55. Strangles sold yesterday for 1.96.

SQ long

#LongLEAPs I sold my stock and Jan 2019 60 calls on the 5th, when $SQ was at 94.50. Man, what a drop! Now looking to leg in long again.

Bought to Open $SQ Jan 2020 110 call for 7.40.
Sold $SQ Oct 26th 80 call for 1.50.

I play this one a bit differently than @fuzzballl, going fairly far OTM rather than ATM. SQ topped out at 101.15 on Oct 1st, and this LEAP was going for 19.00 and higher.

WYNN…

10/9….BTC WYNN 12 OCT 18 130 Calls @.04….STO 10/4 @1.42….Selling against Jan 2021 125 Calls needing $0.25 per week to cover so off to a good start..
10/9…STO 19 OCT 18 125 Calls @.94
Thankyou @fuzzballl for the idea… #fuzzy #leaps

BA Bull Call / ARNC Bull Put / SOXL Put

#longcalls
$BA BTO 11/23 385/395 BUCS at 4.62

#shortputs
$ARNC STO 11/16 19/24 BUPS at 1.75
$SOXL STO 12/21 90 put at 3.51 Thank you @fuzzballl

VIX short

STO VIX Nov 20/30 call credit spread @ .60 on today’s spike. Selling against longer-dated VIX longs per my strat. @fuzzballl I know I owe you the details for this strategy. Sadly, it’s a black box trade. If I tell you the secret, I will have to (blank) you. Didn’t want to fill in the blank for fear of being censored. lol.

#vixgame

#fallingknife SFIX SFIX is down…

#fallingknife SFIX
SFIX is down big today after earnings, this is a Motley Fool best buy, AMZN is doing something similar. I choose my own clothes, waiting to see how far this falls.

MO ALRM NFLX Short Puts / WTW Roll Calls / SPX Closed Early

#shortputs
$MO STO 9/14 61 put at .40
$MO STO 9/21 61 put at .78
$ALRM STO 9/21 57.5 puts at 1.10 Thank you @fuzzballl
Closed Early
$NFLX BTC 9/21 295/305 BUPS at .05 STO at 1.95

#shortcalls
$WTW BTC 9/21 74 call and STO 10/19 80 call at a net debit of .15 Stock at 72.25

#spxcampaign
Closed Early
$SPX BTC 9/14 2810/2835 BUPS at .20 Sold for 1.80 I’m a bit skittish

A lophir a day keeps…

A lophir a day keeps the losses at bay

Added lophir layers in QQQ, SSO, and XLY
I’m using a @fuzzballl tactic and choosing not to bore you with the details.:-) Here’s a quick refresher. Sell a 30d put x2, buy a 15d put x2, buy a 40d put x1, and sell a 22d put x1. Delta goal at entry is 12 per lot. Set a GTC to take profit or let it expire for full profit.

#lophir

AMBA mostly closed

#Earnings #LongStraddle Sold most of my $AMBA Aug 31st 40 puts for 5.40 at the open. Will wait to see if the stock goes lower for the rest. Straddles bought yesterday for 4.09.

ADSK

#LongCalls #LEAPS – This was one I’ve been in for quite awhile. It goes all the way back to Dec with a strangle gone bad and then horrible timing on an overnight short stock assignment. Then turned it into a LEAPS non ratio position where the weekly sales got immediately run over. After finally working out of that by rolling up LEAPS to finance the roll up of the weeklies and gradually being able to turn it into a ratio’d position I was able to resume selling. So…after the big jump today and in spite of lousy exit fills ( I should’ve waited a little) I am out with a small profit from what was once a decent size ugly loss.

Sold to Close ADSK JAN 18 2019 130.0 Calls
Bought to Close ADSK AUG 24 2018 134.0 Calls

All said and done a .76 winner per contract!

Doesn’t sound like much but it feels much bigger…LOL

Good Morning

Thought for the day
Save the earth….. It’s the only planet with chocolate!

#pietrade conversion to #fuzzy Sold…

#pietrade conversion to #fuzzy

Sold WDC for 67.16 against cost basis of 72.34. BTO 60 leap in 2020 for 14.15 bringing new cost basis to 19.33. With 73 weeks left only need to collect 0.27 per week to cover. Already short the 70s 16 DTE.

Freed up 60k in margin for other uses.

I will be doing this a lot more with #pietrades that go way ITM. Much cheaper way to stay in the trade, less to lose, less to make up and plenty of time to do it.

Question for @fuzzballl since you do the most of these. On an annualized basis what are realistic returns for these? I personally come close to 100% but may not be managing them the best.

#fuzzies

Question about Butterfly trade. I…

Question about Butterfly trade.

I made a mistake with the strikes when buying a butterfly on TSLA.
I got a DITM Call BTF instead of an OTM Call BTF
August 3rd EXP
CALLS 265/270/275
Total paid $0.23

Is there a risk for holding this trade, other than losing $23?
Is there any benefit for holding this trade?

TOS analyze tab is showing strange numbers.
I tried to close the trade, but no takers so far.

Here came the sharks, shaking…

Here came the sharks, shaking the market, got there millions and now drinking the champagne.

BABA earnings

BABA moved earnings from 8/2 to 8/23 (three weeks out). Now confirmed.
We can’t say that @fuzzballl didn’t warn us. lol.
#earnings

WYNN SWKS earnings

As @fuzzballl mentioned earlier, some companies move their earnings dates around making pre-ER trades more difficult. WYNN is one of those companies. They moved their tentative earnings date from 7/26 to 8/1 but still not confirmed. This is probably a good one to avoid and SWKS too.

#pietrades Rolling everything out 2…

#pietrades

Rolling everything out 2 weeks for vacation 🙂
Some of these are still open positions.

MU 55 call rolled out 2 weeks for 1.27 credit. Cost basis 56.23. Another 2 rolls should bring profit.

WDC 8/3 75 put was sold last week for 1.29
EXPE 7/27 115 put sold last week for 1.90. Both of these are going into earnings as 21 DTE #pietrades.

AMAT lot 1 47 CC rolled out 2 weeks for 0.28. Cost basis 50.83. Will take a few more rolls on this.

FAS 64 cc rolled out 2 weeks to 65 for 0.31 credit. Cb now 63.10.

TQQQ 59 CC rolled out 2 weeks for 0.85 credit. cb now 57.80

XBI #fuzzy 87/96.5 rolled out to 8/3 for 0.30 credit. Cb decreased to 9.72. May reset in 2 weeks by rolling both up a few strikes if it keeps going.

AMAT lot 2 47 cc rolled out 2 weeks for 0.27 credit. Cb now 47.40 so should see profit in another 2 rolls.

That’s it for now. Letting theta decay pay for vacation, at least I covered the airline tickets in cash today on sales/rolls 🙂

Sorry @fuzzballl UAL was cheaper than AAL but we may make the news if we get thrown off the plane 🙂

Have a good expiration and week, check in when we get back but not even taking a computer. Need to unplug!!!!

Chris

@jeffcp66 Hi Jeff, do you…

@jeffcp66

Hi Jeff,
do you know if there is any particular reason why some replies are getting marked as “awaiting approval”?
Is there a way to avoid it?

Taking advantage of the bounce

Cleaning out some duds and resetting on the bounce.

DIA, FAS, IWM, SSO, TQQQ, XLY income trades
Reset ETF unbalanced diagonals to Aug or Sept 63 delta long calls, Jul6 45 delta short calls, 3×2 ratio, will roll short call @ .20 or when at risk of assignment, reset when core has less than 30dte

MRVL, PANW, PYPL, RHT, TWTR income trades
Reset stock unbalanced diagonals to July 27 or Aug 63 delta long calls, Jul6 45 delta short calls, 2×1 ratio, will roll short call @ .20 or when at risk of assignment, reset when core has less than 30dte

AMZN, GOOGL, ISRG, MSFT, and NFLX earnings trades
Bought BuCS or long calls one expiration past earnings. Typical long call is 40 delta or BuCS with 40 delta long call and short call 10 to 20 points away. I use the BuCS trade when calls are expensive and risky (AMZN for example)

ADBE, BA, BIDU, FB, LABU, MSFT, NVDA, and TNA Fundies (fast unbalanced diagonals)
Closed all my fundies after exhausting all reasonable possibilities of recovering losses with short calls. I didn’t open new trades on these tickers. I want a much smaller book of trades to manage going forward. Although fundies do well on a backtest, the drawdown during a choppy period adds too much risk for my taste. This trade will be left in its Petri dish by the side of the road.:-)

If anyone is interested in the trade specifics, please let me know and I’ll share.

#unbalanceddiagonal #earningstrade

AMAT FAS GLD LABU NVDA RTN TQQQ

#LongCalls #LEAPS – Pretty good day of booking winners and selling new ones. Early on some and late on some but all of these are now ratios to reduce whipsaw upside risk.

AMAT:
Bought to Close AMAT JUL 6 2018 48.5 Calls @ .08 (sold for .41) A synthetic double dip this week 🙂
Sold AMAT JUL 13 2018 46.0 Calls @ .98

FAS: (2 accounts)
Bought to Close FAS JUN 29 2018 65.0 Calls @ .17 (sold for 1.40)
Bought to Close FAS JUN 29 2018 65.0 Calls @ .15 (sold for 1.42)
Sold FAS JUL 6 2018 63.5 Calls @ 1.22
Sold FAS JUL 6 2018 63.5 Calls @ 1.17

GLD:
Bought to Close GLD JUL 6 2018 121.5 Calls @ .08 (sold for .49)
Sold GLD JUL 13 2018 119.0 Calls @ .78

LABU:
Bought to Close LABU JUN 29 2018 103.0 Calls @ .09 (sold for 3.50 total after a double dip rolldown)
Sold LABU JUL 6 2018 88.0 Call @ 3.20

NVDA:
Bought to Close NVDA JUN 29 2018 250.0 Calls @ .11 (sold for 3.62 total after a double dip rolldown)
Sold NVDA JUL 6 2018 242.5 Call @ 2.81

RTN:
Bought to Close RTN JUN 29 2018 207.5 Calls @ .03 (sold for .73)
Sold RTN JUL 6 2018 195.0 Calls @ 1.24

TQQQ:

Adjusted early and ratio’d after adding to LEAPS

Bought to Open TQQQ JAN 17 2020 60.0 Call @ 13.50 (adding)
Bought to Close TQQQ JUL 20 2018 60.0 Calls @ 1.40 (sold for 1.65)
Sold TQQQ JUL 20 2018 57.0 Calls @ 2.65

SPX Campaign / Rolled SPLK / T Puts / NFLX Long Calls / AMZN Supercharger

#spxcampaign
#SPX STO 7/9 2600/2625 BUPS at 1.60
#SPX STO 7/13 2625/2650 BUPS at 3.00

#shortcalls
Rolled
$SPLK BTC 8/17 125 calls and STO 8/17 115 calls for 1.00 added credit

#shortputs
$T STO 1/2019 30 put at 1.55 Thank you @fuzzballl

#supercharger
$AMZN STO 7/13 1600/1620 BUPS at 2.80

#longcalls
$NFLX BTO 7/6 380/390 BUCS at 7.30 Thank you @jeffcp66 and @kathycon

Expirations

#optionsexpiration
Full Profit
$NWL 27 call
IQ 35 put
$TRTN 35 put
$SQ 60.5 put
$GS 220/230 BUPS
$BA 310/320 BUPS
$SPX 2585/2610 BUPS Thank you @jeffcp66
$SPX 2565/2590 BUPS Thank you @jeffcp66
$AMZN 1460/1500 BUPS
$NVDA 220/230
$BABA 195/202.50 BUPS 2x normal size
$SPX 2675/2700 BUPS Thank you @jeffcp66
Full Loss
$TSLA 330/310 BECS
$TWX 105/95 BECS

Called Away
$NTRI 35 covered call 33.20 basis
$LABU 98 covered call 92.90 basis Thanks to all who taught me how to roll my own with particular appreciation to @fuzzballl

Assigned
$TLRD 30 put Earnings trade badly altered.

Have a restful weekend. Happy Father’s Day!

Market ends weakly, TQQQ calls sold

#Market #LEAPs Not a good end to the day… are we really surprised or freaked out by interest rates? Or is this market just not getting back through 2800 for the rest of the year? We are now in the fifth month of a market that cannot rally like we saw it do so often in 2016/2017. Stuck again in a Downside Warning that goes more up than down, but apparently means there is no follow through on rallies.

Missed fills on the bounce so got stuck selling calls near the lows. I don’t want to be stuck with short puts on this without selling calls as well.

Sold $TQQQ July 6th 64 calls for 1.35.

#fw-reversal-warning, #vixindicator