$MamaCash………Lophirs
Trying to get my head around these and would appreciate if you could explain a couple of points!
Are these similar to long condor spreads but opened with a credit?
Assume max profit is the credit received, if not how is the target profit calculated?
I followed your UNH trade for 2.25 (only one as test)
9/21….Still chipping away…Rolled ERX 9/21 34 Call out to 10/26 35 Call for 0.17 credit…..CB now $35.92 after being assigned at $42.50 0n 5/29 #pietrade
#longcalls
Closed Early
$PYPL BTC 9/21 90/95 BUCS for .85 STO at 1.97
$AMZN BTC 9/21 1800 call at 116.80 BTO 8/6 at 65.62 Not around all day and got clobbered at EOD. Fortunately I have earned an MOB (Masters of Option Bistro) degree and sold 22.84 of calls against the long calls (rolling often) Thanks to all the Jolly rollers who taught me that aspect.
$BIDU STC 9/21 220/230 BUCS at 9.50 BTO at 4.08
$LABU STC 9/21 95.50 calls at .35 BTO at 3.90
#shortputs
$FB BTC 9/21 155/165 BUPS for .40 STO at 2.50
Closed Early
$AMZN BTC 9/21 1880/1900 BUPS at .05. STO 8/29 for 2.70
#optionsexpiration
$TNDM 40 call Covered
$KR 31 call Covered
$NVDA 285 call
$MTN 300 call
$DBX 26.5 call Covered
$ESPR 40 put
$TNDM 35 put
$MO 61 put
$SRPT 137/142 BUCS
$NFLX 320/335 BUPS
Total Loss
$TSLA 330/340 BUPS
#Assigned
$TNDM 45 and 44 puts Basis 41.4
Thanks to all that make the bistro special. Have a great weekend
#VIXIndicator The close bumped us up to 11.68, so still no start of the countdown to an Upside Warning.
I didn’t have many left to expire. Took a bunch off early this month.
Expirations for full profit:
$QQQ Sep 21 182/172 BuPS
$WDC Sep 21 57.50 puts
$WHR Sep 21 115 puts
$NFLX Sep 21 330/320 BuPS
$SQ Sep 21 75/70 BuPS (see below)
Expirations for full loss:
$SQ Sep 21 75/80 BeCS–stock went through the money quickly. I sold a put spread against it and then rolled that up (the one that expired today) but the position will still be a loss. 5.00 spread offset by 3.60 in total premium = 1.40 loss on this position). I didn’t have time to post earlier but I reinitiated a bearish position on this in October with a 90/95 bear call spread for 1.08 credit.
$SODA Sep 21 130/135 BeCS–not much I could do here. On 8/20 the takeover was announced and the stock immediately started trading between 142 and 143 and has been that way since. There was no premium in any put options to sell to offset. Just one of those things that’s an occupational hazard of this business. I’m glad I was hedged with a spread. Took in 1.50 against the 5.00 spread so a 3.50 loss. Sayonara SodaStream. Good luck at Pepsi.
Took off before the close today:
$EWZ bought to close Sep 21 34/37 inverted strangle @ 3.27. Position was originally a 37/39 strangle and I rolled the 39 calls down to go inverted with 34 calls and 37 puts. Total premium taken in was 3.54 (2.57 for the original strangle plus .97 for the roll down) so I’m out of this for a .27 profit.
Need to decompress. Have a great weekend everyone.
I am heading off to the gym in a few minutes so there are only 2 expirations today.
HOS, 35 calls covered. Will short again next week.
SIVB, 300 puts. Sold some more this morning that will expire in January.
#CoveredCallCampaign
#Rolling $BABA hit 170 in the pre-market; I closed one of two calls I had at the 170 strike. Kept the other.
BTC BABA Sep 28th 170 call for 1.95. Sold for 1.55 on Sept 12th
#Rolling Sold BABA Oct 5th 175 call for 1.60
BTC $SQ Oct 5th 97 covered calls for .25. Sold for 2.45 on Sept 13th
Sold $MU Sept 28th 45 covered call for .90. I also am still long Oct 5th 45 calls.
BTC $OLED Sept 21st 122 covered call for .40. Sold for 1.50 last Friday.
Sold Sept 28th 124 call for 1.65.
BTC 9/21 34 call @ 0.02..STO 9/5 @0.29..This is against my Jan 20 32/32/30 #fuzzy. Need 0.08 per week to cover. I am selling calls mainly at 14 dte every 7 days as an experiment
STO EWZ 10/5 35 Call @0.50
#SuperCharger I was looking at a #Lophir but wasn’t liking the margin requirement R/R. This trade is a better fit.
Bought to open $SPX Oct 26th 247.5/257.5 bull call spreads for 7.30. Profit target: 9.40.
I think it shows stock market performance is fairly unpredictable based on Washington’s makeup.
Strategy to buy lophirs on top performers in top sectors is working so far. 100% win rate for Sept, hit 70% target profit in three weeks or less. Tickers PG, JNJ, TGT, COST, XLY, and XLV. For those who followed on these trades, I apologize for the late update.
Now holding Oct26 lophirs in BA, PG, UNH, MMM, JNJ, and WMT based on top sectors (industrial, healthcare, and comsumer staples). Posted these trades ydy and today.
BTO Sept 28 1897.50/1900.00 Call spread $1.90 #supercharger
Order to close 2.40 GTC
Also STO Sept 28 BuPS 1900.00/1897.50 .63 Order to close .10
#shortputs DOCU
Sold Nov. 47.50 put for 2.30, DOCU is at 52.40.
Buying lophirs in top performing stocks in top performing sectors (Health, Industrial, Consumer Staples). Set GTC orders to close positions at 70% profit based on credit received. There is some earnings risk on MMM and JNJ but not on WMT. Hope to be out of these positions before earnings.
BOT MMM Oct26 1/-2/-1/2 212.5/210/205/197.5 puts @-1.90
BOT JNJ Oct26 1/-2/-1/2 140/139/136/133 puts x2 @-.82
BOT WMT Oct26 1/-2/-1/2 94.5/93.5/92/88.5 puts x2 @-.80
#coveredcalls Rolled my Sept 21st 13.50 calls out and up to Oct 05th 14.50 for .20 credit.
#spxcampaign BTC my Sept 28th 2800/2820 BuPS and Sept 28th 2790/2810 BuPS at .20. Originally sold for a 1.20 and a 1.05. Mitigates the damage from yesterday a bit. Traveling next week so I’m not putting anything on. My daughter is presenting her research as part of her degree requirements so we are off to be wowed. I had always thought she would go into business. Never tried to influence her career choice. Instead she ended up in biology like her old man. Damn, genetics is a powerful thingy. Ha!.
BTC 9/21 97.5 Calls @0.02..STO 9/14 @0.39..These are against a Jan20 95/95/93 #fuzzy needing 0.20 per week to cover
#assignment #earnings SKX
April 19, sold a May 37/47 strangle, SKX went down big, rolled the 37 to October, assigned last night, cost basis of 35, stock is at almost 27, grrr
TNDM BTO STOCK @45.0
TNDM STO 9/21/18 45.0 CALLS @.65 Expires in 5 hours. ;>) If not, I have some stock a little cheaper.
STO January 2019, 300 puts @10.40
I rolled all of my October 19, 73 calls to November 16, 75 calls for a credit of .92 cents. These are against my January 2020, 66.67 calls.
#earnings #closing #shortstrangles MU
Yesterday sold Oct. 18, 41/55 strangle for 1.38, bought today for .88.
$SPY is down due to ex-div
#VIXIndicator We spent the morning in Upside Warning territory, but despite a steadily rising SPX all day, the VIX also rose steadily then ended up closing higher on the day.
In one of the smaller accounts that I manage.
Rolled October 19, 73 calls to November 16, 75 calls for a credit of .90 cents. If these expire at zero, I still have 61 more weeks to sell premium. So far, I have collected 14% of the cost of the trade. These are against the 2020 65 calls that I bought at 16.00 on August 10.
Bought lophirs in top performing stocks in top performing sectors. As explained earlier, these trades do well when price moves up, flat, or down. They lose money on big pullbacks but losses are capped. There is potential earnings risk in October so will have to watch dates as earnings get confirmed. These are half-size positions. Will add opportunistically on pullbacks.
Bot BA Oct26 1/-2/-1/2 362.5/355/347.5/337.5 PUT/PUT/PUT/PUT @ 2.71 credit (BE 346)
Bot UNH Oct26 1/-2/-1/2 262.5/260/255/247.5 PUT/PUT/PUT/PUT @ 2.22 credit (BE 255)
Bot PG Oct26 +5 1/-2/-1/2 84/83/82/80.5 PUT/PUT/PUT/PUT @ .42 credit (BE 81.80)
#lophir
STC Sept 21 1885.00/1885.5 #supercharger $2.45
BTO 9/6 1.90
#CoveredCallCampaign
Sold $AAPL Oct 12th 227.5 covered call for 2.13
Sold $FB Oct 12th 172.5 covered call for 1.20
BTC $OLED Sep 21st 114 put for .15. Sold for 1.50 last Friday
KFY BTO STOCK 49.77 Was or still is a falling knife. Just dipping a toe. ;>)
RHT
RHT financial report after closing of market today? any idea?
ROKU STO 9/28/18 76.0 CALLS @.94
#shortstrangles SMH
TastyTrade idea, sold Nov. 16, 98/113 for 2.53, SMH is just under 108.
STC January 2020, 360 calls and BTC October 19, 375 calls for a net profit of 3.90
Just thought I would start booking some profits since everyone is so bullish.
Also, STC, CAT, 2020, 150 calls and BTC September 28, 155 calls for a net profit of 2.93
:
TNDM BTO STOCK 42.90 A day trade.
IQ STO 9/28/18 26.50 PUTS @.50
NKE BTO 9/28/18 80.0 PUTS @.56
NKE STO 9/28/18 85.0 PUTS @2.07 A BuPS
STC 28 SEP 1130/1140 BuCS @9.40….BTO 9/12 @7.70
#spxcampaign Stopped out of my Sept 28th BeCS @ 3.15 off a GTC stop order. I adjusted the stop loss order to 3x the 70% of the credit received for the entire IC rather than based on the credit for the leg. The ones from last week would have worked if I had used a stop based on the IC rather than the individual legs. So I believe this is the better set up but the gap up this morning was a killer. I was loading in an adjustment by rolling up the short call but was stop a millisecond before I fired off the order. Still learning.
Too busy at work to check in this week, some interesting trades but TRLY I will watch with amusement from the sidelines:)
After rolling and recovering earnings trades for weeks equity curve finally moving up again. The theta decay finally caught up the the drops in AMAT, WDC, MU and the rebound does not hurt but now ITM on some of the shorts so will have to move them back the other way but have a few weeks.
Rolls/new trades/ #pietrades and position update.
#fuzzy coversions
MU 55/50 2020 LEAP recovering. Cb 9.70. and will roll short call for 15 DTE soon.
WDC 60/58 2020 LEAP now ITM. 36 DTE on the short so will roll up when the time value erodes. CB 15.41
EOG 115 2020 LEAP Cb 9.96. 22 DTE on short side, waiting for time value to drop.
XBI Lot 1 80/97 2020 LEAP cb 19.56 and short calls 22 DTE.
LNG 50/66.5 2020 LEAP cb 19.25 22 DTE on shorts
XBI lot 2 95/98 2019 LEAP next week rolled to 22 DTE for 0.67 credit. Cost basis 4.82. Also have 87/95 at 5.68 and 95/95 at 2.2. Trying to take these to zero cost basis then roll cash into new trades.
TQQQ lot 1 65 CC cb 63.20, will let assign next week and reset
TQQQ lot 2 65.5 cc cb 63.15 and will let assign next week
LNG lot 1 cc 66 rolled 1 week for 0.49 credit. Cb 64.23
LNG lot 2 66 cc rolled a week for 0.40 credit. Cb 64.32
1 new #pietrade and may become a ladder.
EXPE 43 DTE 126 put sold for 2.95. Cb 123.05 if assigned.
Hope everyone else is having a good week and anyone in NC hope things are drying out.
#earnings #shortstrangles MU
Sold October 19, 41/55 for 1.38, Micron is at 46.
#shortputs #closing #fallingknife INTC
July 27, sold Jan. 42 put for 1.27, bought today for .84, thanks Iceman
#Earnings #Assignment While waiting for $PVTL 22.5 puts to hopefully expire, I got assigned last night. At least it is cheap. No weeklies, and options premium is weak, so I will hopefully catch a bounce and sell it.
We awake to a ripping rally and lowest VIX since early August.
BTO September 28, 225/235 bull call spread @ 8.25, stock trading at 236
#Scary Sold $TLRY Sept 21st 150 puts for 1.85. One put in each of two retirement accounts.
Took a 5 point loss. Too crazy for me.
#lophir
BOT +1 +1/1/-2/2 NFLX 100 19 OCT 18 360/355/340/335 PUT @-.66
Order BTC .19 30% of credit. Think I got this correct.
Bot SSO Oct18 +1/-2/-1/+2 126/124/122/119 PUT/PUT/PUT/PUT @ .55 credit. GTC order to close @ .16.
This is a rinse and repeat trade. When this one closes, I replace it immediately with a new trade… 28 to 35dte, deltas 40/30/22/15. GTC order to close @ 30% of credit received.
#VXXGame Waited a long time for this… Bought to cover 10 shares of $VXX shares for 26.95. Was early assigned 100 short shares on Feb 12th via a 27 short call. I will scale out as it moves down.
Bot ISRG Oct26 +1/-2/-1/+2 547.5/535/520/505 put/put/put/put @ 3.60 credit. GTC order to close @ 1.80 or day before earnings whichever comes first. Earnings report not yet confirmed. This is not specifically an earnings trade. I just want to avoid earnings risk.
I’m doing rinse and repeat trades on AMZN, ISRG, and SSO. This means that when a 28-35dte lophir closes for profit, I immediately replace with a new trade using the same parameters.
#LongCalls #LEAPS – Taking the quick winner on the bounce. 4 out of 4 on BABA this year. Still on the radar for a new entry.
Sold to Close BABA JAN 17 2020 160.0 Calls
Bought to Close BABA SEP 21 2018 160.0 Calls
All said and it’s a 3.34 winner on a huge 2 lot. I’ll take it for a quickie…
Look at the Oct 19th ATM options.
240 call: 50.00
240 put: 105.00
I know puts usually are more than calls, but that’s quite a difference! Sell a straddle and your profit range at expiration would be 85.00-395.00
#CoveredCallCampaign Nice to see some strength in this one, but worried it’s a dead cat.
Sold $BABA Oct 5th 170 covered call for 1.55.
This trade inspired by CMLViz.
Bot NFLX Oct19 350/340/325/300 x 1/-2/-1/2 put @ 8.31 credit. Will close @ 50% profit or day before earnings on Oct 16 whichever comes first. No risk to upside. BE on downside 323. Will adjust with call credit spread or long put at 330, whichever is most cost effective.
#lophir
#pre-earnings
STO October 19, 62 covered calls @ .45 on a partial, testing the water.
STC September 28 340/350 bull call spread @ 9.55, bought last week @ 8.45, I got the idea from DeBeers over on SMM.
#BearCallSpreads – Starter positions that I’ll add to on any spikes. If we don’t get any spikes and this thing continues to tank at least I’ve got something…LOL
Sold UVXY JAN 18 2019 39.0/44.0 Bear Call Spreads @ 1.16
Sold UVXY JAN 17 2020 34.0/44.0 Bear Call Spreads @ 1.95
Sold for target profit @ 9.40. This one took patience and luck.
BTC September 21, 50 puts @.01, sold at 1.50, I wish I had sold more.
#supercharger
$AZO STC 9/21 720/730 BUCS at 00 BTO at 5.25 Thank you @jeffcp66 and thank the mother of all superchargers @kathycon
#shortputs
Rolling
$GOOGL BTC 9/21 1190/1210 BUPS and STO 10/5 1190/1210 BUPS at 4.50 debit
$FB BTC 9/21 160/180 BUPS and STO 10/5 160/180 BUPS at 2.10 debit
#SPXCampaign Got bacl on after a bit of a power blip. Sold Oct 03rd 2965/2985 BeCS @ 0.95 when SPX was at 2905.14.
Nice breakout and continues to run.
BTO October 19, 210 calls @2.837
STO October 19, 220 calls @ .456
STO October 19, 200 puts @1.543
Net debit of .835
#shortputs #rolling DUST
rolled Sept. 21, 42.50 put to Sept. 28 for .82, originally sold for 1.73 on Aug. 13, DUST is at 40.34.
ROKU BTO STOCK 72.24
Bought to close $NOC Jan 18 2019 240 puts @ .75. Sold for 2.85 on 7/25.
NKE BTO 9/28/18 80.0 PUTS @.59
NKE STO 9/28/18 85.0 PUTS @2.24 Stock @85.04
TNDM STC STOCK @41.24 BTO @40.21
ROKU STO 9/21/18 75.0 CALLS @.50
MZOR STO 9/21/18 50.0 PUTS @1.00 Back door to stock ownership.
$TNDM BTO STOCK 40.21
TRADES: ROKU sold it a buck ago, but I was at an all time high and was happy. Had the stock since the upper 60’s. STC @72.42
BTO NKE STOCK @84.78
STO NKE 9/21/18 84.5 PUTS @.63 Trying to buy the stock a little cheaper.
STO ROKU 9/21/18 70.0 PUTS @.55 ” ” “
BREAKING: Tesla share sharply drop on report that the company is facing a U.S. criminal over Musk's statements https://t.co/2c272KfMhC pic.twitter.com/3qqWxjXdPh
— CNBC Now (@CNBCnow) September 18, 2018
#shortputs #closing #fallingknife AA
July 19, sold January, 35 put at 1.40, bought today for 1.05
#LongCalls #LEAPS – Going out a little bit on these with stops and alerts set on the nearer term sales.
AMBA:
Sold AMBA OCT 12 2018 38.5 Calls @ .60
EWZ:
Bought to Close EWZ SEP 21 2018 35.0 Calls @ .01 (sold for .43)
Sold EWZ OCT 5 2018 34.0 Calls @ .55
Options Bistro 