SPX Campaign / GOOGL Rolled / MU Calls

#spxcampaign
$SPX STO 9/28 2815/2840 BUPS at 1.80 Thank you @jeffcp66

#shortputs
Rolled
$GOOGL BTC 9/14 1160/1180 and STO 9/28 1140/1160 at .67 credit Thank you @jsd501 Will be an interesting two weeks. I have my Dramamine ready.
$TNDM STO 10/12 43 puts at 2.39 Like the stock, own some and I think the downdraft will be short lived

#longcalls
$MU BTO

#longcalls
$MU BTO 10/19 45 calls at 2.40 Credit Suisse Positive Comments

$NKE BTO 9/28 77.50/87.50 BUCS at 5.45 Stock going up. Earnings 9/25 AM Hope to remember to close before earnings.

Everyone have a safe and restful weekend. Prayers to those in harms way.

Back in fuzzy land

I’ve been eyeing the LABU chart as many of you trade it. Decided to dip my toe in with a fuzzy because I can more easily limit my risk.
BTO LABU Jul20 110c/110p/107p (1,-1,1) @ 6.20. Sold Jun29 115c @ 2.15.
#fuzzy

Expirations / Rolled SQ Puts / Closed A Puts Early

#optionsexpiration
Full Profit

$SPX 2515/2540 BUPS Thank you @jeffcp66
$NFLX 300/310 BUPS Closed half the trade on 5/14 Let this tranche expire. Goodness I was prudent!
$TSLA 240/250 BUPS
$URI 150/160 BUPS
$AMZN 1310/1360 Thank you @jsd501
$BA 300/310 BUPS
$SPX 2605/2630 Jeff
$RF 21 calls (Covered)
$NWL 28 call (Covered)
$CBOE 106 call (Covered) Called away. Kept it too long Basis 108.80
$A 75 call Earnings Trade Thank you @jeffcp66
$WYNN 172.5 put Call side of strangle closed earlier Thank you @fuzzballl
$MTCH 36 put
$MU 49 put

Todays Activity

#shortputs
Rolled
$SQ 5/18 BTC 51 put and STO 6/15 50 put for extra .80. Rolls have taken in nearly 9.00 per contract
Closed Early
$A BTC 5/18 65 puts at .50 STO as earnings strangle for .39 Strangle was profitable in total. Thank you @jeffcp66

I was out all day. Everyone have a pleasant weekend.

#Fuzzy Would like to get…

#Fuzzy
Would like to get a few ideas for #FuzzyRepairs How do you handle them when under water. Still have a couple from Mid Feb reversal that I am adjusting but most are at a bigger loss than I would like.

Thoughts on leveraged tickers.

Benefits:
The premiums are huge, easier to roll than some of my #pietrade names
Because it is an ETF like @jsd501 mentioned one company going bankrupt or merging is not going to destroy the ETF it will still be there.
Most are fairly liquid.
Can take a directional bet if you are into that kind of trading 🙂
Can use them to move into and out of sectors

Risks:
Leverage cuts both ways
Looking at how most are structured do not think we will have an XIV/SVXY occurrence but several have had reverse splits. Need to pay attention to potential reverse splits.
A rapid move may take some time to recover.
Some move a lot more than others, TQQQ for example moves more than TNA.
Margin requirements are stricter. TOS requires full cash value when calculating margin. Don’t know if it is different for portfolio margin.

So far the moves have been more manageable with these than some of my #pietrades. I would not load the boat on them, but see this as a viable option to single tickers to get better premiums and easy rolling.

Thoughts, others seeing something with risk that I may have missed? Anyone found any others I have missed?

Currently using ERX, FAS, TNA, TQQQ, UPRO, UDOW, LABU (many reverse splits), BIB (no weeklies 😦 ), UYG same, UCO, UBIO no weekly, SOXL no weekly.

Anybody found others wiht decent option volume?

Back To Risky Business

$TSLA STO 4/27 300/290 BECS at 2.10

TQQQ

#LongCalls #LEAPS #BullCallSpreads – Thanks @jsd501 for the nice reminder on this ticker. Great premium for setting up a longer term position. As an experiment, I’m buying the Jan 2020 call spreads 100 points wide. TOS is showing an expected move of +/- of 100 points out to 2020. This reduced my entry cost (but caps long term profits).

Bought to Open TQQQ JAN 17 2020 150.0/250.0 Bull Call Spreads @ 28.30

92 weeks for the trade to run so only need 31 cents per week to cover the cost. Goal is to get it covered much sooner and keep selling against the position.

So:

Sold TQQQ APR 20 2018 155.0 Calls @ 3.30

#fuzzy