#earnings #shortstrangles #closing LULU
August 30, sold a seemingly safe 115/155 strangle for 2.12, stock about 138. LULU touched 160 a couple times, has backed off some, finally became slightly profitable this morning, just under 153, bought the strangle for 1.93, playing it safe and freeing up 3K in margin.
#shortputs
$ROKU BTC 9/14 61 puts at .05 STO 9/5 at 1.21 on $AMZN news sending $ROKU down. Should have bought stock.
$AMZN STO 10/19 1800/1850 BUPS at 7.52
#spxcampaign
$SPX STO 9/24 2760/2780/2960/2940 at 1.70 Thank you @jdietz1954
#shortcalls
$DBX STO 9/14 28 calls at .25 Will keep covering until the shares disappear!
#longcalls
$SPLK BTO 10/19 125/135 BUCS at 4.22
Bought to close:
$AMBA Nov 16 32.50 puts @ .35. Sold for 1.10 on 6/6.
$URI Jan 18 100 puts @ .60. Sold for 2.33 on 4/24.
STC 108/110 $1.55 BuCS BTO 9/6 $.93 #in-out
At a lower strike
Sold $AMAT Jan 18 2019 35 puts @ 1.25
#spxcampaign BTC my Sept 14th 2800/2780 BuPS @ .20 off a GTC order. Originally entered 9/05 @ 1.05
#SuperCharger This worked so well a couple weeks ago, and now it looks like the pullback may be over.
Bought to Open $GOOGL Sept 28th 1155/1165 bull call spread for 6.99. Order in to close for 9.40.
#Earnings Still working my way back from some earnings trades on these two.
Sold $RH Sept 28th 120 puts for 3.25. Will sell calls on a spike up.
Sold $TSLA Sept 21st 260 puts on Friday for 11.95.
Sold $TSLA Slot 21st 300 call yesterday for 2.40.
#LongCalls #LEAPS – Another busy week away from the market but still selling a little. Quite a few to watch as we get closer to Friday though.
Bought to Close GLD SEP 14 2018 116.0 Calls @ .01 (sold for .48)
Sold GLD OCT 5 2018 115.0 Calls @ .43
I rolled my September 28 , 70 calls out to October 19, 73 calls for a credit of .05 cents.
#shortputs NKTR
sold Oct. 19, 60 put for 2.45.
#shortputs EWZ
Sold Oct. 19, 29 put for 1.29.
#CoveredCallCampaign Have we found its bottom?
Sold $FB Oct 5th 175 covered calls for 1.50.
#spxcampaign Legged into a Sept 24th Iron Condor 2940/2960/2760/2780 for 1.70. OCO stops: Put side .30 limit, 2.40 Mark stop. OCO stops on the Call side .20 limit, 1.70 Mark stop. Following Dan Sheridan’s method here.
#ContangoETFs Sold $DUST March 60 call for 5.35, adding to my position.
Good Morning
#shortcalls
$WTW STO 9/21 74 call at $1 (covered – left over from earnings trade – if called away a breakeven)
#shortputs
$SPOT STO 10/19 170/175 BUPS at 1.90
Rolling
$EXAS BTC 10/19 60 put and STO 10/19 70 put for added 1.40 credit. Now banked 4.60 Thank you @ramie77 for original STO 1/2019 35 puts
#longcalls
$MCD BTO 10/19 165/170 BUCS at 2.05
@ramie77
Have you rolled your DUST $40 calls?
Sold $MLM Jan 18 2019 165 puts @ 2.80 with the stock at 191.59. Delta 16.
#FallingKnife
Weekly vs monthly options or #pietrades vs #optionladder
Not trying to sound greedy but after I converted a lot of #pietrades to #fuzzies and #optionladder, the decay is A LOT slower. Like watching paint dry but there are some advantages and disadvantages. Had a lot of time to think about trading this weekend with tropical storm and hurricane on the way.
Advantages:
higher premiums up front
less frequent adjusting
lower gamma risk, it can move around more before it hurts the overall position.
less trading=less commissions and fewer trades to monitor
easier to adjust
less intensive trading
Disadvatages:
slower premium decay, much slower my theta is half of what it usually is
less overall premium, you get more up front but 4 weeks of ATM options is a lot more premium than 1 option sale
fewer positions
in the case of diagonals or multi strike calendars, harder to adjust with monthlies. Weeklies let you simply roll up/down/out
less compounding effect, my back of the note pad answer is about 15-20% less annualized returns compared to weeklies
So which one wins? Depends on your goals. Personally I am trying to grow accounts so I will be sticking with mostly weekly and #pietrades. The compounding effects more than offset the additional work.
If you already have everything you need, then #optionladder would probably make more sense.
Some days/months trading is easy, other not so much. These last 6 weeks have been hard for me after earnings went bad and not a lot of time to trade. If it was easy everyone would do it and be good at it.
Thanks again for the ideas. I finally close a lot of these trades in 11 days and can re-deploy capital.
Sold $TRV Jan 18 2019 105 puts @ 1.10.
Premium is a bit better now.
#FallingKnife
#shortcalls
$TSLA sold last week’s 262.50 call with 35 minutes till expiration collect 0.55, easy money.
Stock closed at 263.24, option 0.84 just missed buyback. Margin sales Friday evening at $265 and today at 276.85, 277.80, 280.95 and final capitulation 281.15, must be near the high of day. All for a lousy 0.55.
#fallingknife #shortputs JD
Sold Dec. 21, 24 put for 1.27.
https://tinyurl.com/yc7ga2fd
Good Morning all
#shortcalls
$AMZN BTC 9/7 2035 call and STO 9/21 2025 call at additional 11.40 These are against long 9/21 calls
#shortputs
$AMZN BTC 9/7 1930/1940 BUPS at .80. STO at 1.30 on 8/29
$CMG BTC 9/21 420/430 BUPS at .30. STO at 1.55 on 8/3 Thank you @ramie77
Just a couple….
$FIVE 104 puts, #Earnings trade sold yesterday for 1.20
$RH 180 calls, sold a couple weeks ago for 3.68
#spxcampaign Sold Sept 14th 2930/2950 Calls for .40 to pair with my Sept 14th BuPS. Stops .10 and 1.00
#optionsexpiration
Just 2 this week
MU Sept 07th 54.5 Calls
ROKU Sept 07th 57 Puts
Taking off my last position in this stock.
Bought to close $CVS Nov 16 60 puts @ .24. Sold for 1.70 on 6/18.
#LongCalls #LongPuts #LEAPS – Slow day today….replacing some expiring positions and adding to positions.
DUST:
Bought DUST JAN 17 2020 40.0 Put @ 13.59 (adding one)
Sold DUST SEP 21 2018 40.0 Put @ 1.10
EWZ:
Sold EWZ SEP 28 2018 35.0 Calls @ .46
LABU:
Bought LABU JAN 17 2020 110.0 Call @ 19.80 (adding one)
Sold LABU SEP 14 2018 98.0 Calls @ 1.75
BTO Sept 14 262.50/260.00 BePS #supercharger Puts 1.03 #in-out
STC SPX EM BF 2875/2870/2865 $1.25
BTO 9-5 $0.20
Thx DK
ERX #Shortputs Rolled my Sept 7th 35 Put out a week to Sept 14th 35 P for 0.15 credit.
Sold #shortcalls Sold NUGT Sept 14th 13 calls @ .16.
Fed up with TWTR and sold my stock. Took the loss and moving on.
#spxcampaign Sold to open Sept 21st 2760/2780 BuPS @ 1.25 when SPX was at 2874. Stops @ .30 and 2.95
#shortputs FB
From Tradewise sell Oct. 5, 155/157.50 for .62 each
#closing #shortputspread TSLA
August 28, sold a 300/310 put spread for 3.43, rolled it down and out, not far enough, closed today for a $1547 loss, played with fire arrgghh
ROKU BTO STOCK @64.94 An add. 1/2 position.
ESPR BTC 9/21/18 50.0 PUT @2.15 STO @5.30
#shortputspread #closing #earnings AVGO
July 15, sold an August 17, 210/215, put spread for 1.00. August 15, rolled it to Sept. 21, 200/210 for 1.34, closed today for .40 after the earnings pop. My initial timing was right, could have closed profitable after about 10 days and avoided the earnings risk, but no, had to try for more which resulted in a de facto risky earnings trade-I feel lucky.
BTC the 14.00 calls that expire today at .02 that I sold last week at .24, I could have waited or let them expire but this moves around a lot like last week so decided to take the money and run.
Sorry, they were covered calls.
#CoveredCallCampaign Sold $FB Oct 5th 160 puts for 4.00.
#PieTrades Sold $MU Sep 14th 47.5 covered call for .75
#PieTrades Sold $OLED Sep 14th 125 call for 2.00.
#SyntheticCoveredCalls Closed $PYPL Sep 21st 95 calls for .11. Sold for 1.10 on Tuesday.
#Jobs Slightly better than expected.
+201,000 non-farm payroll jobs, vs 191K expected
Unemployment steady at 3.9%
U6 unemployment at 7.4%, down by 0.1
Wages up 0.4%, 2.9% year over year, an improvement over recent months
Labor force participation 62.7%, down 0.2
#Earnings Sold $FIVE Sept 28th 100 puts for 1.20. Biggest UP move: 21.9%, Biggest DOWN move: -9.3%, Average move: 6.3%. This trade is -9.7% OTM.
MU double dip. The calls I rolled this morning dropped to 0.17 so rolled again for another 0.59. Now 15 DTE on the short 50 calls and long the Jan 2020 55 leaps. All told brought in 1.01 credit today to offset the drop.
#SuperCharger Bought $AMZN Sept 28th 1890/1900 call spreads for 7.35. Plan to close for 9.40 or more. Thanks @mortlightman for the idea… I was trying to do this with NFLX but wasn’t finding good prices.
#LongCalls #LEAPS – Exited this one back on Aug 23rd on the bounce up to the 200ma. Using the drop for a starter in a new one (4th time this year…LOL). It could go lower so starting with 40 percent size (2/5).
Bought BABA JAN 17 2020 160.0 Calls @ 27.20
Sold BABA SEP 14 2018 162.5 Calls @ 2.45
BTO Sept 21 108/110 Call Spread 93.00 #In-Out
Order in to GTC STC 108/110 1.55
BTO Sept 21 1885.0/1887.50 Call Spread #supercharger 1.90
#coveredcalls #rolling WYNN
Rolled Sept. 21, 150 call to Sept. 21, 135 call for 1.39, cost basis down to 146, but WYNN is down to 128, not the way it is supposed to go.
Selling puts in January to potentially acquire the stock at what would be around a 2 year low, or keep the premium. Sold $FB Jan 18 2019 135 puts @ 3.05.
ROKU BTO STOCK @62.32 & 62.42
Another small Whiz experiment. Opened for a credit and closed for a credit…
Sold VXX SEP 14 2018 28/28.5/29/29.5 Put/Call double vertical @ .11 credit (opened for .14 credit)
.25 credit on the entire trade. I did 4 contracts and he did 150…LOL
Sold $TWTR Oct 19 27 puts @ .61. Premium is better now.
#fallingknife WYNN
WYNN is down $10 today, nothing new on yet but the Sept. 21, 150 call (covered) is gold.
#ShortPuts – In my little Tastyworks account I’ve been playing with. Selling below the 200ma again…
Sold TQQQ JAN 18 2019 50.0 Put @ 3.26
Sold TQQQ JAN 18 2019 45.0 Put @ 2.34
#LongCalls #LEAPS – Caught the top a week ago today (miracle!) to exit my 2019’s for pretty good profit. Getting back in now with the 2020’s. Getting better at these by scaling into the LEAPS gradually and then the ratio strategy when needed. This is a 30 percent (3/10) starter position beginning with a non ratio figuring more possible weakness.
Bought to Open XBI JAN 17 2020 97.0 Calls @ 11.25 (great fill with mid @ 11.90)
Sold XBI SEP 14 2018 97.5 Calls @ 1.02
In the early part of the trade with a non ratio I’ll roll the weekly calls aggressively if negative deltas are reached on a bounce…
ALRM BTO STOCK 54.85 A starter. I was a little early it seems.
ROKU STC all my stock this morning when it started to go down. I took it down yesterday, I didn’t want to do it again today, STC @61.83.
ROKU STO 9/7/18 60.5 PUTS @.55 Will accept assignment if it works out that way.
MZOR STO 9/21/18 50.0 CALLS @.80
I rolled my September 7, 1950/1960 bull put spread to September 14, 1900/1920 bull put spread for a credit of 1.10, trying to stay ahead of the correction in tech stocks.
#Rolling #Earnings #CoveredCallCampaign
Had to stop two rolls I made yesterday. I have not re-rolled them, as I’m going to wait for things to settle down and choose my positions carefully.
BTC $FB Oct 5th 165 puts for 6.17.
BTC $RH Sep 28th 129 puts for 7.25.
My IB software has been funky on trade history so I don’t have sale prices handy.
#pietrades and making adjustments.
I have some garbage in my accounts right now and just as I start to break even, it moves again. MU, WDC started as #pietrades, converted to #fuzzies. MU was showing a profit yesterday but 5 points down today on MU and 2 on WDC now have created more work. So anyway, here is what I have and will gradually be moving to ETFs. Only problem is some of my accounts are not big enough to handle the good ETFs unless I #fuzzy them which is probably what I should be doing anyway. On a positive note I have made back 25-30% of the SVXY losses in 6 months. Probably another year to make it all back. That was a harder lesson than the /ES in Aug. of 2015 but at least I had a bigger capital base so did not totally destroy the accounts. Will be interesting to see what happens with the premiums when SVXY reverse splits. I will not trade it unhedged!!
Adjustments
MU 55/50 LEAP call rolled out to 8 DTE for 0.42 credit. CB now 10.52
WDC rolled the 15 DTE 60/65 LEAP down to same date but 60 short call for 1.01 credit. Cb now 16.77
EOG 115 LEAP call 15 DTE, no adjustment. Cb 11.20
New trades
LABU STO the 15 DTE 90 put for 1.2. You could do better now.
TQQQ batch 1 cc 65 at 8 DTE for 64.00
TQQQ batch 2 65.5 cc 8 DTE at 64.45
LNG batch 1 66.5 cc 8 DTE at 65.40
LNG batch 2 66.5 cc 8 DTE at 65.65
Added to XBI #fuzzy and now have all Jan 2019 LEAPS and 22 DTE short calls
95/98 leaps at 5.49 this is the new one
87/95 leaps at 6.43
95/95 leaps at 2.95
At least my theta decay is huge.
Need to be better about direction and timing, wil be using my tools more now instead of just placing weekly #pietrades no matter the ticker is doing.
Even with the garbage still made $582 last week but generally stagnant after the last earnings round.
It seems that a lot of my #pietrades have been converted to #fuzzy lately. Maybe I can get to 10 names, 10 contracts each making $1 or more a week, that would be a lot of cash coming in which would offset some of these dogs 🙂
Rolled $WYNN Sep 21 140 puts out to Oct 19 140 puts for 1.45 credit
AMZN #BuPS Stopped out of my Sept 21st 1920/1910 BuPS at 2.55 on the swoon this morning.
Had to make a few rolls today:
Rolled $FB Sep 14th 170 puts to Oct 5th 165 puts, .10 credit.
Closed $FB Sep 14th 182.5 calls for .20
#Earnings #Rolling Rolled $RH Sep 7th 135 puts to Sep 28th 129 puts, .40 credit.
#CoveredCallCampaign Sold $BABA Sep 21st 177.5 covered call for 1.54 (what’s happening to BABA?)
#PieTrades Sold $AMAT Sep 14th 42.5 covered call for .72
#ContangoETFs Sold $DUST Nov 60 call for 1.95
The VIX was docile once again but NASDAQ stocks not looking pretty today. Is this the start of something bigger, or is it already over?
#spxcampaign Sold to open Sept 14th 2800/2780 BuPS @ .70 when SPX was at 2888.
STC WYNN Sep 14 149/147 BePS 1.70 BTO 9/4 1.01 1 day #In-Out Trade
#supercharger Puts
BTC Sep 07 $305 Call for 0.95, STO Sep 07 $290 call for $3.02, presently $1.50×1.60
ROKU BTO STOCK @61.47
ROKU STO 9/14/18 65.0 CALLS @.95
ESPR BTC 9/21/18 45.0 PUTS @.75 STO @3.20
ESPR BTC 9/21/18 55.0 CALLS @.60 STO @2.25
Sold $ROKU Oct 19 55 puts @ 1.77. Pure play in the OTT television space. May take assignment if the stock tanks before October.
Bought to close:
$CAH Sep 21 50 puts @ .40. Sold for 1.35 on 3/23.
$DISH Sep 21 32.50 puts @ .30. Sold for 1.40 on 2/6.
Options Bistro 