#shortputs
$VXX BTC 7/29 21 put and STO 8/5 20.5 put at added credit of .10. Been rolling these since April against LEAP Put. Already paid for themselves plus lunch money during that period. Thank @optioniceman for this style. PS There is no free lunch (Disclaimer! 😉 )
Archives
Markets
DIS long term short puts
An OG @optioniceman #FallingKnife trade. Sold $DIS Mar 18 2022 115 puts @ 2.04, delta 12. Stock trading at 145.50, down around 30% from its 2021 highs. The strike price is at a level not seen since July 2020. If it’s below that price in March I’ll likely take assignment for just under 113.
AMZN Earnings BUPS / LABU UPST TNA Put / SOXL Put Close
#earnings #bups
$AMZN STO 10/29 3400/3420 BUPS at 9.15. Earnings 10/28 after close. If stock climbs towards earnings plan to buy some back.
#shortputs
$LABU STO 10/22 51 put at 1.90. Inspired by @fuzzballl and @optioniceman
$UPST STO 10/22 340 put at 2.95
$TNA STO 11/19 70 Put @ 1.26
$TNA STO 11/19 75 Put @ 1.84 Thank you @fuzzballl
$SOXL BTC 10/29 40.50 put at $1.00. STO at 2.97. Lightning up a bit. Thank you @fuzzballl
SNOW BUPS Close / PFE Put Close / PFE NVAX Call Close
#bups
$SNOW BTC 9/17 245/265 BUPS at .40. STO at 6.60 on 8/10
#shortputs
$PFE BTC 9/3 46.5 put at .02. STO yesterday at .38
#coveredcalls
$PFE BTC 9/3 47.5 call at .05. STO 8/30 at .31
$NVAX BTC 9/3 255 call at .15. STO 8/30 at 2.60
COIN Call Close / RIOT Call Roll / LABU Put Roll
#shortcalls
$COIN BTC 8/13 310 call at .20. STO at 4.00 on Monday. Thank you @optioniceman for idea.
$RIOT BTC 8/20 36 call and STO 8/27 38 call at even (covered)
$PANW BTC 8/13 377.50 call at .60. STO at 2.40 (Covered)
#shortputs
$LABU BTC 8/13 63 put and STO 8/20 62 put at added credit of .35. Taken in 6.41 and reduced strike from 54 to 62 since 7/28.
TQQQ Put Close / TQQQ Put / PINS BNTX LABU NVAX TSLA Call
#shortputs
$TQQQ BTC 8/27 put at .40. STO at 1.72. Thank you @jsd501
$TQQQ STO 8/13 126 put at .30. Thank you @optioniceman
#coveredcalls
$PINS STO 8/13 60 call at .65
$BNTX STO 8/13 450call at 14.70
$LABU STO 8/13 62.50 call at 1.50
$NVAX STO 8/13 220 call at 3.80
$TSLA STO 8/13 735 call at 5.50
TQQQ,
STO August 13, 90 put at 1.61
VRTX BUPS Close
#bups
$VRTX BTC 7/9 185/195 BUPS at .90. STO at 6.00. Thank you @fuzzy and @optioniceman for this bounce back trade. The company, not me.
Rolling Jan TSLA
Rolled $TSLA Jan 21 2022 200 put up to 300 put @ 6.50 credit. Total premium now 11.65.
Expirations
#optionsexpiration
$WYNN 127 call
$TAN 85 put Thank you @fuzzballl
$LABU 70 put Thank you @fuzzballl
$LABU 65 put Thank you @optioniceman
$MARA 43 put
$MRVL 48.5 put
Happy Easter Weekend to all.
Stay well
TQQQ Put Close / MRVL LABU Put / TAN Put Roll
#shortputs
$TQQQ BTC 4/1 75 put at .50. STO at 1.55. Thank you @fuzzballl
$MRVL STO 4/1 45 put at 1.00
$LABU STO 4/1 65 put at 1.51 Thank you @optioniceman
$TAN BTC 3/26 90 put and STO 4/1 89 put at .55 added credit and $1 less if assigned
Expirations
For 2/12:
$GME 85/90 bear call spread
$GME 15 puts (I now have free long Mar 6 puts that were financed by this short put; thanks @optioniceman)
$TQQQ 52.50 puts–thanks @jsd501
Have a great long weekend everyone.
#OptionsExpiration
INTC – Married Put
BTO 1x INTC Jan 23, $42.5 long put @ $7.75
BTO 1x INTC stock @ $45.40
Strategy: wait until INTC reaches $50.00 and then start selling covered calls. Consider selling 0.5x short puts against the 1x long puts. Give INTC 3 months to reach that $50 target, if not sell stock and close out long put.
Using INTC as a test case before I start looking for bigger fish to fry. Learn to manage the discipline, the boredom, and the timing of selling premium against the core position.
Thanks @optioniceman for the alert.
TSCO Puts Gone / SWI Mishmosh / TSLA Put Closed / Z Put / VXX Rolled
#shortputs #earnings
$TSCO BTC 12/18 140 put at .40. Been rolling since 10/20 on earnings trade gone awry. I now have vertigo on the wane and $125 for my spinning.
#longcalls #shortputs #bups #Mishmosh
$SWI BTO 1/15/2021 17.50 calls at 2.40
$SWI STO 1/15/2021 20 puts at 3.00
$SWI STO 2/19/2021 10/17.50 BUPS at 1.85
#shortputs
$TSLA BTC 12/18465 put at .65. STO at 4.65. Way to go @fuzzballl
$Z STO 12/18 130 put at .70.
$VXX BTC 12/18 21 and STO 12/24 21 at added credit of .20. Sold against long put. Channeling @optioniceman
BIIB
#ShortStrangles – @OptionIceman pointed this out the other day. Great premium in it…
Sold BIIB NOV 6 2020 220.0/315.0 Strangle @ 7.21
#callratiospread INTC Bought a Dec….
#callratiospread INTC
Bought a Dec. 18, call ratio spread, 42.50/42.50/short 45 for 5.59, don’t think I’ve done this type of trade before.
Thanks @optioniceman for the INTC awareness.
#tastytradefollow
NUGT Calls Rolled / VXX Puts
#coveredcalls
$NUGT BTC 9/18 100 calls and STO 9/26 105 calls at .15 debit. Been rolling this longer then the miller’s daughter in Rumpelstiltskin has been spinning gold from hair.
#shortputs
$VXX STO 9/11 26 put at .25. Thank you @optioniceman for reminding to sell against the long $VXX pyt.
TSLA
#ShortStrangles – Going back in. Riding alongside @OptionIceman …
Sold TSLA SEP 4 2020 1500.0/3400.0 Strangle @ 7.60
WDC to STX swap
#CoveredCalls – Thanks to @OptionIceman for reminding me WDC had suspended it’s divvy. I was not aware of this. STX is a similar company with a similar chart and a similar divvy. Liquidated my WDC and bought an equal number of shares in STX. WDC was underwater so I’ll roll all that into the new position and go from there with an STX basis.
Thanks again Iceman!
WBA
Ex-div tomorrow for 0.4675 for those wanting a dividend capture trade.
Stock is close to the low for the last week.
Dividend Yield 4.46%
CINF
BTC August 21, 50 puts at $0.30, sold at $2.00
Hat tip @optioniceman
CINF
#ShortPuts – Thanks @optioniceman !
Sold CINF Aug 21 2020 50 Puts @ 2.00
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.
CINF puts
Sold $CINF 6/19 40 puts @ 1.45. Delta 19. Stock at 48.53.
Thanks again for the heads up on this @optioniceman.
#contangoetfs GUSH Down to .33….
#contangoetfs GUSH
Down to .33. Can it go to zero?
TSLA
Yesterday STO $TSLA Feb 7 Calls @10.50. Selling against existing March 21 2020 585 Long calls.
Today – Rolled above $TSLA 800 Feb 7 Call to Feb 14 800 @28.00.
Thanks @optioniceman
AXSM
#ShortPuts Followed @optioniceman with the high vol stock that @330nick found
Sold $AXSM Dec 20th 25 puts for 1.70
Sold $AXSM Dec 20th 22.5 puts for 1.35
Don’t do these wild ones much anymore, but the low stock price limits the risk.
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.
NVDA TSLA
BTC $NVDA 180/190 Dec 20 #BuPS @0.22. Was STO 11.15 @1.65.
STO $TSLA 352.5/362.5 #BeCS @.70 #following @optioniceman
LABU Rollout
Not going to let @optioniceman get all the dizzy activity.
#coveredcalls
$LABU BTC 6/28 $48 call and STO 7/5 $50 call at extra .59 plus $2 if assigned.
SIG earnings analysis
#Earnings $SIG reports tomorrow morning. Below are details on earnings one-day moves over the last 12 quarters.
I have never traded this, but it is a big mover
Dec. 6, 2018 BO -18.04%
Aug. 30, 2018 BO +23.84% Biggest UP
June 6, 2018 BO +18.39%
March 14, 2018 BO -20.22%
Nov. 21, 2017 BO -30.39% Biggest DOWN
Aug. 24, 2017 BO +16.66%
May 25, 2017 BO -7.75%
March 9, 2017 BO +8.72%
Nov. 22, 2016 BO +2.14%
Aug. 25, 2016 BO -12.62%
May 26, 2016 BO -10.49%
March 24, 2016 BO +2.88%
Avg (+ or -) 14.35%
Bias -2.24%, negative bias on earnings.
With stock at 27.50 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 23.31 to 31.69
Based on AVERAGE move over last 12 quarters: 23.56 to 31.44
Based on MAXIMUM move over last 12 Q’s (30.4%): 19.14 to 35.86
Based on UP max only (+23.8%): 34.06
Open to requests for other symbols.
PCG 17 puts expiring, thanks…
PCG 17 puts expiring, thanks @optioniceman
Catching up on today’s trades
Took some profits on GTC orders.
Bought to close:
$DUST Dec 21 45 calls @ .35. Sold for 1.25 on 8/13.
$DUST Mar 15 2019 64 call @ .37 Sold for 2.10 on 8/23.
$PCG Nov 23 14 puts @ .06. Sold for 1.40 on 11/15 (thanks @optioniceman)
$WHR Dec 21 100 puts @ .48. Sold for 1.40-1.65 on 7/25.
$SFIX Dec 21 22 puts @ 1.30. Sold for 1.38 on 10/2. Taking off for around breakeven/small profit; will stand pat with the other rungs of the ladder I sold on 10/2–Nov 24 puts taken off for most of the max profit 2 weeks ago, and leaving the short Mar 15 18 puts out there, I decided to lower my exposure to this one a bit.
BOIL UNG and nat gas…
https://www.zerohedge.com/news/2018-11-18/optionsellerscom-goes-dark-after-catastrophic-loss-event-natgas-short-squeeze
TSLA tomorrow
#Earnings It looks like TSLA has announced earnings date of tomorrow. Thanks @optioniceman for the heads up.
In addition to 300 call I sold earlier (and early), sold Oct 26th 230 call for 2.05
http://ir.tesla.com/events/event-details/tesla-inc-q3-2018-financial-results-and-qa-webcast
TLRY puts
#Scary Sold $TLRY Sept 21st 150 puts for 1.85. One put in each of two retirement accounts.
Three Expirations
#optionsexpiration
$DBX 28 call
$MO 61 put
$WDC 55 put Thank you @optioniceman you are a nice man!
Closed Early KHC BUPS and TSLA BECS and IQ Calls
#shortputs
$KHC BTC 7/20 52.50/57.50 BUPS at .10 STO in May at 1.40
#shortcalls
$TSLA BTC 7/20 400/350 BECS at 1.50 STO 6/8 at 6.00 Thank you @optioniceman. I get cold feet and so I am out.
#shortcalls
$IQ BTC 7/20 40 calls at .60. STO at 3.90 and 7.10
Closing WBA
An @optioniceman #FallingKnife trade from 5/8.
Bought to close $WBA Jul 20 57.50 puts @ .o8. Sold for 1.26.
#contangoetfs Some time ago I…
#contangoetfs @hcgdavis
Some time ago I remember a post with a list of #ContangoETFs that work well for selling puts and covered calls.
What do you like to trade?
TQQQ
FAS
UPRO
NUGT
TNA
UDOW
ERX
LABU
DUST
FAZ
GUSH
DRIP
KOLD
Any other?
LB puts closed
#FallingKnife #ShortPuts BTC LB Jun 15 30 puts at .55, STO May 10 at 1.35. Taking 60% profit early. Thanks @optioniceman
Long Calls URI / SPX Campaign / Short Puts / Rolling / Expiration
#longcalls
$URI BTO 9/21 165/180 BUCS for 7.00
#spxcampaign
$SPX STO 5/18 2510/2535 BUPS at 1.70 Thank you @jeffcp66
$SPX STO 4/25 2665/2690 BUPS at 4.60 Thank you @jeffcp66 Better luck this time.
#shortputs
$SKX STO 4/27 31 put at 1.00 Thank you @honkhonk81 Falling Shoe Trade
$URI STO 5/4/2018 160/165 BUPS at 1.40
#rolling
$SCHN BTC 4/20 36 put and STO 5/18 36 put at .30 added credit
$MZOR BTC 4/20 70 put and STO 5/18 70 put for added .70 credit
#optionsexpiration
$NFLX 340/335 BECS
$SPX 2795/2770 BECS Thank you @jeffcp66
$TSLA 305/300 BECS more than offset by
$TSLA 295/300 BUPS Missed the tail on the donkey with pinning! ;-}
$FB 170/175 BUPS Total Loss
$NKTR 90/100 Total Loss
$FB 135/145 BUPS
$NFLX 275/280 BUPS
$NFLX 260/270 BUPS
$SPX 2665/2690 BUPS Big Loss but not Total but still BIG OUCH! Will I ever learn?
$CAT 125/135 BUPS
$AMZN 1360/1390 BUPS
$GOOGL 1030/1035 BUPS
$FB 140/150 BUPS
$ALGN 230/240 BUPS
$WHR 120 put Thank you @ramie77
$SIG 35 put Thank you @optioniceman
$TWTR 31 put
$MSFT 92.5 put
$RIG 10 put
#FallingKnife trades Thanks to @optioniceman…
#FallingKnife trades
Thanks to @optioniceman for the ideas.
Sold:
$CLX Oct 19 100 puts @ 1.35
$PM Sep 21 75 puts @ 1.70
$HSY Nov 16 80 puts @ 1.35
$ADS Jun 15 180 puts @ 1.50
$ADS Sep 21 150 put @ 2.00 (lowest strike)
Rolled LABU / Closed Early NFLX SIG
#rolling
$LABU BTC 4/27 83 call and STO 5/11 85 call for 1.10 added credit
Closed Early
$NFLX 5/18 250/260 BUPS at .15 STO 4/13 at 1.13 Earnings delight
$SIG BTC 4/20 40 put at .50 STO at 2.51 as falling knife Thank you @optioniceman
Options Expiration and Final Trades 3/23/18
#SPXcampaign. Cleared out most put spreads for expected lower levels Monday. I only rolled one as I’d like to sell based on Monday’s open.
Stopped $SPX Apr 19th 2540/2515 put spreads for 5.40. Sold for yesterday for 2.85.
#CondorRoll: Sold Apr 6th 2700/2725 call spreads for 3.10, and Apr 6th 2475/2450 put spreads for 2.80.
Stopped Apr 19th 2475/2450 put spreads for 3.10. Sold yesterday for 1.80.
Closed Mar 26th 2680/2705 for .30. Sold this morning for 3.10.
Stopped March 26th 2575/2550 put spreads for 6.05. Sold yesterday for 1.75.
Bought to Open March 29th 2475/2450 LONG put spreads for 2.15. Will take profits with any big gap or move down Monday.
Bought to close March 23rd 2585 puts for .35. Sold in a #Condor Roll on Monday. Thought I didn’t need to worry about this one.
#VXXGame: Sold $UVXY Jan 2019 65 call for 3.75… thanks @optioniceman and @ramie77 for the idea
#Earnings BTC $FDX Mar 23rd 240 puts for 6.50. Sold in a strangle for 1.75 on Tuesday. Missed my chance to close for cheap on Wednesday. #Rolling: Sold Apr 20th 235 puts for 6.75. Also sold a Apr 20th 255 call for 1.15. Will add more calls on strength.
#OptionsExpiration
$SPX 2790/2815 call spreads
$VRTX (formerly covered) 177.5 call
UVXY calls
I know I said I was limiting the naked call selling in volatility but this one just seemed too good.
Sold $UVXY Jan 18 2019 75 calls @ 2.75.
Highest strike. Thanks for the idea @optioniceman.
Is Iceman ok? He hasn’t posted in a week, maybe he’s on vacation?
UVXY call
#VXXGame I’m building a much smaller ladder at a slower pace than the master ( @optioniceman )
Sold $UVXY March 16th 22 call for 3.20.
$SVXY
Was away from the market for the first hour this morning so the first batch of trades were GTC orders that got hit. Didn’t get a chance to enter new trades until now. Added a couple more following some of @optioniceman trades.
STO Feb 16 $73 puts @ $0.56
STO Mar 2 $75 put @ $1.65
STO Apr 20 $70 put @ $3.95
We’ll see if the market stabilizes here or if this is just a rest area on the way to lower prices.
Just a quick note, I…
Just a quick note, I had some expirations but managed to roll all of them for more cash so they are all next week now. The last move like this in Aug. 2015 crushed (and I mean wiped out) a major trading account. Today my main trading account only down about $500, the hedges worked well.
See you can teach old dogs new tricks and thanks to everyone here for showing me some additional tactics that help on days like today.
Everyone have a good weekend, looking forward to Sunday night opening. Either way have some trades lined up and kept some cash on the side lines so I can take advantage of the blood in the street 🙂
Technically what only a 2-3% drop? Technically 2.31% on SPX/ES.
Cue the chicken, I am glad I closed the /ES strangle this morning. Not ITM but the margin would have used up my cash cushion for next week.
UPS #FallingKnife Sold $UPS Jul…
UPS #FallingKnife
Sold $UPS Jul 20 100 puts @ 1.10. May add more if we get some additional move down.
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 🙂
$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.
SVXY Feb
Following @optioniceman from yesterday.
Sold $SVXY Feb 16 98 put @ 1.10.
NUGT and SVXY
#ContangoETFs #VXXGame Following @optioniceman in spirit:
Sold $NUGT Jan 2019 50 call for 5.95, adding to my position.
Sold $SVXY Feb 16th 120/100 put spread for 2.15. Margin cost to sell naked is too steep.
$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.
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.
$SVXY
Was pretty busy with the day job this morning. Just aren’t getting much for opportunities for entering these trades. Since I’m very low on open #VXXGame positions, followed @optioniceman and @ramie77 making a few trades myself this morning.
STO $SVXY Jan 19 $110 puts @ $0.62
STO $SVXY Jan 26 $95 puts @ $0.60
STO $SVXY Feb 9 $75 puts @ $0.55
STO $SVXY Feb 16 $85 puts @ $1.22
Expirations
Full Profit
$NKE 70/65 BECS
$SVXY 75 put Thanks @optioniceman
$SVXY 70 put Thanks @jsd501
$HES 45.5 put
Full Loss
$FB 185 long call
Merry Christmas to all and to all Family Fun Filled Festivities (Alliteration Abounds – zounds)
VXXgame profits and danger
This is a VERY important article to read for any one doing #VXXGame trades. I first learned the game from @optioniceman in December 2012 and made great profits for two years. However, you do suffer through pain and possible margin calls on big volatility events. After white-knuckling October 2014, I scaled back and participate on a much lower scale now. My profits have been smaller as a result, as the trade has remained stronger than ever since that event.
Although I have long understood the basics of this article, I still learned some new perspective by reading this today. Check it out. Ask questions, start a discussion.
https://seekingalpha.com/article/4131144-next-big-short-potential-cause-market-decline?auth_param=bf3bv:1d386u2:98769c7c2dd6077dfe86fe528712f8a4&uprof=37
ALK #FallingKnife #shortputs BTC 1…
ALK #FallingKnife #shortputs
BTC 1 $ALK April 18 2018 55 put @.65, STO Nov 11 55 put @ 2.02 taking 68% 126 DTE
Thanks @OptionIceman (I’m sure this will get richer but can’t hold as long…take tt better than 50%.)
$C $SVXY
STO $C Dec 15 $72 puts @ $0.40
followed @optioniceman on a couple of $SVXY trades, just nibbling
STO Mar $45 put @ $1.17
STO Jan 19 $65 puts @ $1.12
VXX Game / SPX Campaign
Following @optioniceman
$SVXY STO 12/15 82.50 puts @.54
$SVXY STO 12/22 75 puts @ .62
#spxcampaign
$SPX STO 12/6 2615/2640 BUPS @ 5.85
$SPX STO 12/29 2515/2540 BUPS @ 1.50. Thank you @jeffcp66
MOMO Earnings
I do a lot of earnings event trades using a very specific analysis process. I did a short #ratio-strangle yesterday, sold 3×1 dec 1 34 calls/28.5 puts. Closed the calls at the open for 89% profit. The lower break even was blown this morning so I sold inverted calls as defense. Extended downside range by another .95, upside range is wide due to taking the short call profit.
SPX Campaign / WMT Earnings / VXX Game
#spxcampaign
$SPX STO 11/17 2585/2560 BECS @ 12.70 and then BTC during the day @ 10.00. I keep closing profitable trades early and let losing trades lose more. Not sure there is a connection. Mmmmm Thank you for the idea @jeffcp66
$SPX BTC 11/24 2585/2560 BECS @ 13.40. STO 11/10 @ 18.50 Thank you @jeffcp66
#earnings
$WMT STO 11/17 95/90 BECS @ 1.25
#vxxgame
$SVXY STO 12/15 75 put @ 1.85 Thank you @optioniceman @vxxkelly @jdietz1954 You are all over these.
Good morning
According to zero hedge, Denis Gartman thinks the bear market is upon us. If true to form, we should buy the dip.
SVXY
STO Dec 15 $75 put @ $1.80
STO Dec 22 $70 put @ $1.65
Was in a meeting so missed the last flush lower so couldn’t get the fills that @optioniceman got.
rolls, expirations, etc.
Expiring WDC 85 puts and 82 puts across several accounts. The 85 had been rolled for a few weeks so will free up a lot of margin.
EOG btc 11/3 and 11/10 puts for 0.57 and 0.60. Sold for 1.05 and 1.01. This was to open more margin. Will be taking delivery of GILD if it does not rebound next week and wanted a little extra cushion.
SWKS btc 11/17 98 puts at 1.15, sold for 1.3. Mostly to open more margin. By the end of the day it was down to 0.6, should have waited.
WDC rolled 85 and 86 calls to next week for 1, 1.09, 0.95 and 0.92 over various accounts. Was going to let them get called out but with the pullback can keep the atm spitting out free $. WDC is now my best ticker for the year. Surpassed TSO and XBI a few weeks ago.
Rolled WDC 82 puts to next week 84.5 for 0.88 credit.
SVXY a bunch expiring this week, all were 80 or lower strikes.
That leaves me short GILD puts at 77.5, 78 and 79. It is rebounding now but the math says I can break even quicker by taking the stock and converting to CC than trying to roll the puts. Current prices show a call side skew, very slight but I can be closer to the money and bring in more premium instead of rolling the puts for 0.25 or lower. 3-4 weeks out ATM about $2.
Great trading week, new record for most income in a month trading over the last 4 weeks. Hopefully we keep some volatility the rest of the year.
Have a good weekend!
Guess I would need 20 more positions to equal an @optioniceman expiration…….
No soup for you!
#OffTopic I follow simpleroptions.com and use the name “Optionsbistro-Jeff” in their chat room. When they answer my questions they usually say “Jeff.” Earlier this week John Carter mentioned “Options Bistro” when answering my question. The next day, I could no longer enter the word “bistro” as any part of my name. They’re a bit territorial over there, I guess!
Expired/Closed Early/Trades
#optionsexpiration
$SPX 2500/2475 BECS @24% loss
$FB 180/182.5 BUPS @ 15% loss
$AAOI 55 put
Closed Early
$NVDA BTC 10/20 220/200 BECS @ 85% profit
$AAOI BTC 10/20 65 put @6.00 STO @ 11.25
$AAOI BTC 9/29 60 put @ .20 STO @ 1.70
$TSLA BTC 10/20 420/400 BECS @82% profit
$SPX BTC 9/29 2475/2500 BUPS @ 96% profit
Trades
#spxcampaign
$SPX STO 10/6 2460/2485 BUPS @ 3.35
$SPX STO 10/27 2390/2415 BUPS @ 1.75
$SPX STO 10/20 2550/2570 BUPS @ 1.10
#shortputs
$PI STO 10/20 35 puts @ 1.15
$CALA STO 10/20 15 puts @ 1.15
$TAP STO 1/19/2018 75 puts @ 1.45 and 1.60
$TAP STO 1/19/2018 77.5 puts @ 2.10 This beer is for you @optioniceman
$WYNN STO 10/6 148 put @ 1.72 Inspired by @fuzzballl
#longcalls
$MSFT BTO 11/17 72.50/75 BUCS @ 1.40
Thanks to all for the continuing education.
Have a great week of trading.
$UVXY #ShortCalls – Bought to…
$UVXY #ShortCalls – Bought to close 1 UVXY Dec 15 2017 65.0 Call @ 1.49. Covered two in one day.
Sold this one on 08/10/17 @ 10.00.
$UVXY
Following @optioniceman lead and taking some profits. Will reload on these on the next vol spike.
BTC Mar’18 $91 call @ $4.34, sold for $8.15
SVXY rolls
#VXXGame $SVXY Taking a cue from @optioniceman‘s move yesterday, rolling some ITM puts:
BTC SVXY Sept 1st 80 put for 5.35. Sold for 2.80 on July 27th.
BTC SVXY Sept 15th 77.5 put for 5.45. Sold for 3.70 on July 27th.
#Rolling both to: Sold to Open SVXY Oct 20th 68 puts for 5.55.
Expiration/Exaspiration
Expired Full Profit
$LABU 62 call (covered)
$SPX 2295/2320 BUPS
$SPX 2385/2410 BUPS
$SPX 2350/2375 BUPS
$SVXY 81 calls Thank you @optioniceman
$GOOGL 1010/990 BECS
$GDDY 40 put Earnings trade
$PYPL 61 call
$PYPL 59 put
$NVDA 145/150 BUPS
$AMZN 940/950 BUPS
$AMZN 1050/1045 BECS
$WYNN 125/130 BUPS
$VEEV 60 put
$COST 150/155 BUPS
$COST 160 call (Covered)
$SVXY 45 put
$SVXY 82 call (covered idea from @optioniceman)
$BABA 130/140 BUPS
$BABA 135/145 BUPS
$NVDA 135/145 BUPS
MS 45 put
Expired Full Loss
$AMZN 1010/1045 BUCS (really bad loss)
$VEEV 65/70 BUCS
$UVXY 32/27 BECS
$PYPL 62 call (long)
$VRX 17/20 BUCS
$SWIR 30 calls
$GOOGL 940/960 BUPS
$JD 42/44 BUCS full loss
Believe it or not I did have a positive month end OPEX. I have to learn
that just because I am bullish does not mean the stock agrees with me.
Some of these stocks were downright disagreeable. I have to learn how
to place stops and be pleased that I am preserving some capital when a
trade goes against my premise. Sort of rant over. I feel better. Perhaps
that’s because I played golf this morning.
Thanks to everyone for all your assistance.
Have a great weekend and a magnificent eclipse.
Options Bistro 