Closed Early Yesterday’s $SPX Trade

$SPX BTC 8/18 2390/2415 BUPS @ .30 STO yesterday for 1.95 Thank you @jeffcp66

SPX Campaign

$SPX STO 9/1 250/2475 BECS @ 2.10 Thanks for the inspiration @jeffcp66

Closed Early $FB $CAT $SPX and Covered Call $MOMO

$FB BTC 8/18 160/170 BUPS @ 1.50 STO @ 1.40 To Avoid Assignment
$CAT STC 8/18 $CAT BUCS @ 9.20 BTO @ 3.87 To Avoid Assignment
$SPX BTC 8/25 2500/2475 BECS @ .40 STO 8/14 @ 7.60 Thank you @jeffcp66

$MOMO STO 8/25 50 calls @ .50 Covered

Was Today The Eclipse? I am in the dark

$SPX STO 8/18 2390/2415 BUPS @ 1.95 Thank you @jeffcp66
$SPX STO 9/15 2540/2515 BECS @ 2.40

Closed Early
$SPX BTC 8/18 2490/2465 BECS @ 2.20 STO 8/11 @ 3.35 (Order was placed. I was away) Still 34% profit.
$SPX BTC 8/25 2550/2525 BECS @ 93% profit (GTC order)
$SPX BTC 8/18 2550/2525 BECS @ 93% profit (GTC order)
$SPX BTC 9/1 2545/2520 BECS @ 93% profit (GTC order)
Wish I had closed some of my BUPS also.

$AAOI BTC 8/18 STO 8/25 70 put @ additional 1.95 credit

VXX synthetic

Filled on one contract so we can see which one works better.

SVXY STO Jan 19 60/70 put credit spread at 5.20.
BTO the Leaps CC 70 2019 and sold the next week 75 at 21.26 debit.

Race is on between this and UVXY, update weekly and see which one is better!

Good luck!

Expirations Sales Rolls and Assignments

Busy day
$MOMO 46.5 call (covered)
$LABU 66 call (covered)
$TRIP 44 calls Earnings trade Thank you @optioniceman
$UVXY 52 call Nice man @optioniceman
$AAOI 65 puts
$MOMO 42 puts Thank you @jdietz1954
$SPX 2350/2375 BUPS Thank you @jeffcp66
$SPX 2400/2425 BUPS Thank you @jeffcp66
$SPX 2520/2495 BECS
Earnings Trade
$W 75/80/85/80 $80 per contract loss

Sold Early
$SPX 8/18 2540/2515 BECS @94% profit Thank you @jeffcp66
$FB 8/18 190/180 BECS @96% profit

Todays Trades
$ALB 12/15 105 puts @ 3.70
$NVDA 9/15 145 puts @3.55
$NVDA 9/15 puts @1.36 Thank you @ramie7
$JD 8/18 42 puts @ .62 and .57 Earnings trade from @jeffcp66

$SPX 8/18 2495/2465 BECS @4.25 Thank you @jeffcp66

$NTES 8/18 320 call to 8/25 287.50 @ 3.69 credit (These are against a 9/15 280 call long that I have been selling against and held over earnings – profitable, but should not have held over earnings)

$SVXY @85 (83.5 basis) Did not get roll executed

Thanks to all. Rest this weekend. This week was more exciting than recent ones.

#VXX game I have been…

#VXX game

I have been dissecting the XIV/VXX system marketed by one of the option companies and think I have a better version for the bistroers which many of you are already doing. As I clear out some margin I will start it with a few contracts and keep it rolling TT style. Sell 45 DTE delta 16 or so options and roll as they decay.

So when the VIX heads into backwardization like today, this service goes long VXX when it reverts to contango they close VXX and go long XIV. We can do the same with SVXY and UVXY but with a turbo because of the options.

Sell puts on SVXY and calls on UVXY after a volatility spike or both for the turbo effect. Then when we hit backwardization can sell puts on VXX or go long UVXY stock and get called out on the sold calls. As short as the spikes seem to be I would use short dated options, especially on the VXX. Or if you sold puts on SVXY just take delivery of the stock and then you are long on the reverse anyway.

I know most of you are doing this and I am preaching to the choir but thanks to all of you I am learning how to play VXX game as well and just thinking out loud about ways to keep it rolling long term and make more profits along the way.

Looks like everyone did well today, once I fixed my margin issue I had no problems and should come out ahead in a few weeks.

Cheers, Chris