#BearCallSpreads #ContangoETFs – Had one naked call that got in trouble and wasn’t liking it very much. I rolled it out to 2021 70/80 bear call spreads figuring I’d hide there until things calmed down. Made it a 10 lot to make it worthwhile since the trade was practically a sure thing. Booking it today and will wait for DRIP to rebound when the Saudi oil gets back online.
Bought to Close DRIP JAN 15 2021 70.0/80.0 Bear Call Spreads @ 1.40 (sold for 1.60)
With direction helping quite a bit, I took this trade from Friday off for more than 50% of the profit after.
Bought to close $ORLY 10/18 410/420 bear call spread @ 1.15. Sold for 2.60 on 9/12.
Sitting on quite a few positions that are close to the money for September expiration. Rolled the furthest ITM position up 1 strike and out a month for a credit. Rolled NUGT 9/20 26 calls, out to 10/18 27 calls @ .60 credit.
Remaining 9/20 short call positions that I’ll be watching closely this week: 30 calls, 31 calls, 35 calls.
#SPX1dte Sold too Open $SPX Sept 20 (Friday PM) 2895/2920-3050/3075 condors for 2.45, IV 15.09%, SPX 2996.
OSTK STO 9/20/19 30.0 CALLS @1.10
STNE STO 9/2019 35.0 CALLS @.50
GOOS STO 9/20/19 43.5 CALLS @.90
OSTK STO 9/20/19 27.0 CALLS @1.00
OSTK STO 9/20/19 26.0 CALLS @1.10 Will BTO Stock to cover if necessary.
Bought to close 12/20 130 call @ 3.50. Sold for 13.00 on 8/1.
I have one position left–short 12/20 115 calls which I will look to take off soon.
#ShortPuts – Still have some 80’s to cover this week too…
Bought to Close XBI SEP 20 2019 78.0 Put @ .10 (sold for 2.00)
#closing HAL
August 1, sold a Sept. 20, 22.50 put for 1.53 and HAL went down to the 17s. Rolled to October, closed today for just under a $10 gain, going out for lunch later on.
#Earnings $AVGO Sept 13th 280/285-325/330 condors expired, sold yesterday for 1.02.
Have a good weekend all! Upside Warning hopefully will fire Monday… then will Fed really cut rates at all-time highs?
#CoveredCalls – Another one done…
Bought to Close ULTA SEP 20 2019 250.0 Call @ .05 (sold for 3.00)
Sold ULTA OCT 4 2019 240.0 Call @ 2.00
STO October 18, 275/300 bull put spread at 3.65
#SPX1dte. Sold to Open $SPX Sept 16th 2950/2960-3035/3045 condors for .45, IV 7.24%, SPX 3006.
Double-size, 10-wide.
Expiring today: Sept 13th 2970/2980-3040/3050, sold yesterday for .45.
Sold $CMG 10/18 705/725/850/870 iron condor @ 4.15. IVR on the low side (25) but this gives the stock a 125 point range (currently at 786.56) and some opportunities to roll up or down if it makes a strong move in either direction.
#Earnings. Sold to close $RH Sept 13th 157.5 calls for 16.00. #LongStrangles bought for 14.833 (avg price) on Tuesday. Small profit this time, but even if first day is minor this one tends to follow through almost every quarter.
#Fed announcement Wed at 2pm ET
Link to calendar: https://us.econoday.com/byweek.asp?day=16&month=9&year=2019&cust=us&lid=0
The pullback in $COST seems to be over for now with today’s price action. Sold 10/18 285/275 bull put spread @ 2.34 with the stock at 293.57. Delta of short puts 33. IV rank is high at 55, but earnings are 10/3 so I’m going to need some direction on this trade to take it off early.
OSTK STO 9/20/19 30.0 CALLS @2.30 Will cover if necessary.
A TRADE: Had 90% of my OSTK covered calls called this morning; they expire today.
OSTK STO 9/20/19 35.0 CALLS @1.40
#CoveredCalls – Another one caught in the rally. Rolling one for a debit and one for a credit to get the short call strikes to the same point. Earnings not until Nov.
Rolled WYNN SEP 13 2019 108.0 Call to OCT 04 2019 110.0 Call @ .58 debit
Rolled WYNN SEP 13 2019 110.0 Call to OCT 04 2019 110.0 Call @ 1.42 credit
#SPX1dte Sold to Open $SPX Sept 18th 3010/2985 put spreads for 7.00. In anticpation of new all-time highs.
#CoverdCalls – Calls run over so needing a pullback. Debit roll but picking up .37 of upside.
Rolled EWW SEP 13 2019 39.5 Calls to NOV 01 2019 40.0 Calls @ .13 debit
Non earnings #JadeLizards – A little bounce this week letting me out…
Bought to Close SPLK SEP 13 2019 116.0/124.0/127.0 Jade Lizard @ 3.00 (sold for 3.25)
I like it.
#CoveredCalls #ShortPuts – Out most of this week but had a couple fills…
LBAU:
Bought to Close LABU SEP 20 2019 42.0 Call @ .10 (sold for 2.50)
Sold LABU OCT 04 2019 38.0 Call @ 2.10
SPY:
Bought to Close SPY SEP 20 2019 280.0 Put @ .10 (sold for 2.96)
URI:
Bought to Close URI SEP 20 2019 110.0 Put @ .10 (sold for 2.55)
#SPX1dte Sold to Open $SPX Sept 13th 2970/2980-3040/3050 condors for .45. Double-size position, 10-wide.
IV: 9.33%, SPX 3016
#SPX1dte BTC $SPX Sept 18th 3045/3070 call spreads for 3.50. Condors sold yesterday for 2.65. This didn’t quite reach my stop level, but I’m switching to cautiously bullish today given the Warning’s cancellation. Which also explains this spread:
Sold $SPX Sept 16th 3000/2975 put spreads for 3.00. I’ll add another one tomorrow. I’m going to hold off on short call spreads for now, except for the 1-dte condors.
$ORLY Not the ideal setup from a premium selling angle (IV rank is relatively low at 21) but with the weakness in this segment, and this stock showing a strong rejection at the recent highs, I sold a 10/18 410/420 bear call spread @ 2.60. Short strike at 33 delta and above the highs from July and Sep (looking like a potential double top).
#VIXIndicator The Downside Warning will most likely be canceled at today’s close. Two more consecutive days closing below 14.50 would mean an Upside Warning hitting at Monday’s close.
#Earnings Sold to Open $AVGO Sept 13th 280/285-325/350 condor for 1.02. Strikes are right around the max moves in each direction. I’m trying this despite the trouble on the June earnings report when it had its biggest down move. I was able to roll that one and get out with profit on the following week.
$RH update: Still holding out for some profit on my Long Strangle. Need to reach 173.50 to fill my order… almost got there this morning.
Rolled 9.20.2019 255/265 #BuPS // 10.19.2019 @0.27 credit.
STO Sept-20-2019 220/230 #BuPS @0.74.
Rolled Sept-20-2019 250/260 #bearcallspreads to Oct-19-2019 255/265 @0.28 Credit. Stock around 252.50
#Earnings $AVGO reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
June 13, 2019 AC -5.56% Biggest DOWN
March 14, 2019 AC +8.23%
Dec. 6, 2018 AC +0.58%
Sept. 6, 2018 AC +7.69%
June 7, 2018 AC -2.53%
March 15, 2018 AC -4.81%
Dec. 6, 2017 AC 0.00%
Aug. 24, 2017 AC -3.70%
June 1, 2017 AC +8.49% Biggest UP
March 1, 2017 AC +0.99%
Dec. 8, 2016 AC +4.90%
Sept. 1, 2016 AC -2.24%
Avg (+ or -) 4.14%
Bias 1.00%, positive bias on earnings.
With stock at 300.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 285.78 to 314.22
Based on AVERAGE one-day move over last 12 quarters: 287.57 to 312.43
Based on MAXIMUM one-day move over last 12 Q’s (8.5%): 274.53 to 325.47
Based on DOWN max only (-5.6%): 283.32
Open to requests for other symbols.
#SPX1dte BTC $SPX Sept 16th 3025/3050 call spreads for 3.60. Condors sold for 2.25 on Monday. My stop was hit at 3012, half the expected move to the 3025 strike.
Rolled $NUGT Sept-13 30 Puts for Sept-27 @ 1.00 against existing Oct-19-2019 20 puts.
https://www.cnbc.com/2019/09/11/oracle-releases-earnings-a-day-earlier-than-expected-stock-drops.html
#PerpetualRollingStrangles.
BTC $UBER Sept 13th 32.5/38 strangles for .15. Sold for 1.12 on 8/20.
STO $UBER Oct 4th 31/37 strangles for .90
#SPX1dte Sold $SPX Sept 18th 2885/2910-3045/3070 condors for 2.65, IV 12.53%, SPX 2991. Replaces the 7-dte I closed this morning. My approach on these is to sell one, with sort deltas at .10, on any day that I cannot sell a 1-dte. So normally, Mondays and Wednesdays. I stop if SPX comes within half of the expected move. So, on this one, expected move is 43.00, so I would stop if we got within 21.50 of either short strike. But that expected move will drop each day.
#shortcallspreads TSLA
Sold Oct. 4, 275/290 for 1.45.
I have once again proven my inability to time the market. Yesterday converted a bunch of ATM and ITM XBI puts on a ladder to #fuzzy to avoid the increasing margin. Of course it was up 2+ points yesterday and another 1.5 today. Will manage as #fuzzy. I had already rolled several times and converted to #jadelizard but was still facing increasing margin requirement.
Cost basis 13.80 on 20 lots and already rolled next week 78 up to Oct 11 80 for 1.07 credit so 10 lots at 12.73 but have until Dec 2021 to manage. These are on the put side. LEAPS at 80 strike, shorts at 78, 79.5, and 80 now.
RAD STO 8/20/19 9.5 PUTS ITM @.53
CLDR BTO STOCK @9.14
STNE STO 9/20/19 32.0 CALLS @.70
OSTK BTO STOCK @23.24 On the P&F Chart, it gave a buy signal when it broke 23.0, a DOUBLE TOP.
August 1, sold a 230/270/272.50 jade lizard with a long 210 put for protection, making it an iron condor. ANET dropped about 60 points over the next 2 weeks. I let the short call spread expire, rolled the put spread and sold another call spread. ANET is finally slightly over 240 today, closed the position for a gain.
#ironcondor SHOP
#tastytradefollow Sold Oct. 18, 275/300/405/430 for 5.60. SHOP is around 340.
#closing MAT
July 31, 2017 I sold a 20 straddle in MAT and was assigned. I’ve been playing with MAT ever since, and now declare victory, closing the position for about a $50 profit after numerous adjustments.
ROKU-you’re next.
#SPX1dte BTC $SPX Sept 13th 2870/2895-3035/3060 condors for .45. Sold Friday for 2.45.
#SPX1dte. Since the S&P popped much higher at the close, I had to roll tomorrow’s spread.
BTC $SPX Sept 11th 2990/3010 call spreads for 1.65. Sold for 1.10 90 minutes earlier.
STO $SPX Sept 11th 2920/2940-3005/3025 condors for .675 (avg price).
So if it expires, my total credit will be +0.125. Bummer.
#Earnings. Bought to open $RH Sept 13th 155/157.5 strangle fo 14.60. This needs about a 10% move to breakeven, and it has done that or more 10 of the last 12 quarters. Still, it’s expensive so only a 1-l0t.
Bought to close $NUGT 9/20 39 calls @ .47. Sold for 1.46 on 7/10.
#SPX1dte Sold $SPX Sept 11th 2905/2925-2990/3010 condors for 1.10, IV: 10.83%, SPX 2963
#CoveredCalls
Roll up and back $OSTK 9/20 17.5 calls for 9/13 21.5 calls @3.20 – basis now 18.50.
.
GOOS BTO STOCK @41.23 & 41.36
OSTK BTO STOCK @20.71 & 21.14
OSTK STO 9/20/19 21.5 & 22.0 CALLS @1.02 & .90
OSTK STO 9/13/19 21.5 CALLS @.55
OSTK STO 9/13/19 21.0 CALLS @.90
GOOS BTO STOCK @41.23 & 41.36
CLDR BTO STOCK @9.13
Bought to close $TLT 9/20 147/152 bear call spread @ .15. Sold for 1.30 on 8/14.
Roll $AMD 34 Sep-20-2019 #shortputs for 34 Oct-18-2019 @+0.4. Basis now $31.37. Stock at 30.18.
#tastytradefollow UVXY
Sold Oct. 18, 17 lp/27/sp/27lc/34sc for 1.10
STO October 18, 95 puts at 2.15 with stock at 105 and earnings on October 28
#coveredcalls
Rolled $MEI 35 Sept 20 2019 Calls for Oct 18 2019 35 @+.70.
BTC Dec. 115 calls at 8.80 this morning. I should have waited but happy to be out of that trade for a .30 cent loss.
#Earnings $RH reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
June 12, 2019 AC +15.82%
March 28, 2019 AC -21.96%
Dec. 3, 2018 AC +10.90%
Sept. 4, 2018 AC -13.06%
June 11, 2018 AC +30.54%
March 27, 2018 AC +22.48%
Dec. 5, 2017 AC +0.79%
Sept. 6, 2017 AC +44.75% Biggest UP
June 1, 2017 AC -25.69% Biggest DOWN
March 28, 2017 AC +14.94%
Dec. 8, 2016 AC -18.13%
Sept. 8, 2016 AC +3.08%
Avg (+ or -) 18.51%
Bias 5.37%, positive bias on earnings.
With stock at 152.50 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 136.01 to 168.99
Based on AVERAGE one-day move over last 12 quarters: 124.27 to 180.73
Based on MAXIMUM one-day move over last 12 Q’s (19.8%): 84.26 to 220.74
Based on DOWN max only (-25.7%): 113.32
Open to requests for other symbols.
Maybe put these back on the radar…
Borrowing an idea from @jsd501
Sold $SHOP 10/18 325/315 bull put spread @ 2.41
#SPX1dte Sold to Open $SPX Sept 16th 2875/2900-3025/3050 for 2.25.
Expiring: Sept 9th, 2925/2945-3010/3025 condors, sold Friday for .85
#Earnings $CTRP reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
May 22, 2019 AC -3.18%
March 4, 2019 AC +19.77% Biggest UP
Nov. 7, 2018 AC -19.01% Biggest DOWN
Sept. 5, 2018 AC +5.43%
May 22, 2018 AC +3.98%
March 14, 2018 AC -1.94%
Nov. 1, 2017 AC -2.29%
Aug. 30, 2017 AC -2.40%
May 10, 2017 AC -3.52%
Feb. 22, 2017 AC +1.44%
Nov. 23, 2016 AC +9.80%
Aug. 31, 2016 AC +3.40%
Avg (+ or -) 6.35%
Bias 0.96%, positive bias on earnings.
With stock at 34.50 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 31.56 to 37.44
Based on AVERAGE one-day move over last 12 quarters: 32.31 to 36.69
Based on MAXIMUM one-day move over last 12 Q’s (19.8%): 27.68 to 41.32
Based on DOWN max only (-19.0%): 27.94
Open to requests for other symbols.
#ContangoETFs. BTC $DRIP Sept 20th 115 calls for .40. Sold for 3.60 on July 25th.
Bought to close 10/18 130 call @ 2.55.
Position is a rollout:
Original sale 9/20 115 call @ 3.50 on 7/25
Rolled up and out to 10/18 130 call @ 1.21 credit on 8/27
Total credit taken in: 4.71. Cost to close: 2.55. Profit: 2.16.
I’m still short Dec 115 and 130 calls.
STO October 18, 325 put @ 8.30
#CoveredCalls – Still digging out…
Sold SQ SEP 27 2019 63.0 Calls @ 1.43
Bought to Close ULTA SEP 13 2019 265.0 Call @ .05 (sold for 2.80)
Sold ULTA SEP 27 2019 242.5 Call @ 2.45
#BearCallSpreads – Bought to Close UVXY SEP 20 2019 45.0/55.0 Bear Call Spreads @ .06 (sold for .93 average)
Bought to close $SHOP 9/20 420/430 bear call spread @ .40. Sold for 2.36 on 8/28.
#ShortPuts – Thanks @jsd501 for the idea.
Sold SHOP SEP 27 2019 325.0 Put @ 4.40
#ShortPuts – Forgot I had this order in but I’ll take it. Ready for the next implosion…
Bought to Close SOXL SEP 20 2019 140.0 Put @ 1.00 (sold for 10.30)
Assigned on various lots over the weekend on #pietrades. STO the 35, 35.5 and 36 cc for 2.8, 2.75 and still waiting on the 36 fill. Regardless brings CB to 34.80, 34.70 and under 35 for the final.36 filled for 2.70. CB 34.85.
STO October 18, 345 put @ 11.50 with the stock at 368
BTC $UVXY 9/20/2019 45/55 #BuCS @0.05.
