#PieTrades. Sold $OLED Aug 24th 122 call for 1.65
#CoveredCallCampaign Closed on GTC order: $FB Aug 24th 190 call for .15. Sold for 1.35.
Recent Updates Page 300
DUST calls
#ContangoETFs Put in these orders after the open and they filled as the ETF rose. Wish I’d waited until the close!
Sold $DUST March 15th 60 call for 3.00
Sold $DUST Nov 16th 49 call for 2.50
Sold $DUST Jan 18th 50 call for 4.00
#bearputspreads GOOGL first buy Aug…
GOOGL
first buy Aug 17 1210 put for $1.10
wait an hour sell Aug 17 1200 put for $1.10
cross fingers for tomorrow’s action with no cost and $10 possible gain.
#earnings #ironcondor DE Sold Sept….
#earnings #ironcondor DE
Sold Sept. 21, 120/125/150/155 for 1.18, Deere is at 137
XLK XLY and the new kid XLC
Forgot to post this the other day. A re-shuffle is coming moving around some big names. Might find some opportunity during this….
https://www.investors.com/etfs-and-funds/etfs/sp-sector-reshuffle-play-faang-stocks-xlc/
Taking off my last NUGT position
Bought to close $NUGT Jan 17 2020 55 call @ .60. Sold for 5.60 on 4/11.
In a perfect world gold goes back up taking its supercharged derivative with it so I can sell more calls. At the same time, DUST would implode and I can clear the decks on those positions. Oh and a reverse split for NUGT wouldn’t be a bad thing to add to that recipe. 🙂
DUST
#LongPuts #LEAPS – I tried this with NUGT a long time ago and it didn’t work since I didn’t ratio the position. NUGT was pushing 60 at the time…right idea and wrong execution. I’ll try not to make that mistake here. Sticking with a 3×2 from the beginning since this thing can implode quickly.
Bought to Open DUST JAN 17 2020 40.0 Puts @ 14.50
Sold DUST AUG 24 2018 40.0 Puts @ 1.64
Adding some DUST at new highest strikes
Sold:
$DUST Dec 21 2018 60 calls @ 2.30
$DUST Jan 17 2020 60 call @ 6.50
OLED yuuge adjustment
One I’ve been fighting for awhile. Started out as non ratio #SyntheticStock in 2019 that promptly got run over weeks ago. Gradually worked it back without making much headway. Added a 2020 #LongCalls #LEAPS position on the June pullback. Long story short…weeklies run over again but both core positions combined were nicely profitable.
To clean up the entire mess I booked the gains on the cores and rolled the ITM calls to Jan 2020 ITM put spreads for a nice credit. This will give me many weeks to sell against those put spreads to drastically lower the basis in case the stock is assigned then. I should be able to collect more credit than the width of the spread eventually.
This adjustment also frees up a ton of cash and really simplifies everything…
Sold to Close 2 Jan 2019 115/120/120 synthetic stock positions @ 10.71 (basis 22.49 so loss of $2356)
Sold to Close 3 Jan 2020 105 Calls @ 34.80 (basis 23.18 so gain of $3486)
Net gain on core positions of $1130. I’ll book that and not apply it to this call/put reverse roll:
Rolled Sep 7 2018 96.5 short calls to Jan 2020 145/105 Bull Put Spreads @ 1.66 credit
Original call sales brought in 1.25 so basis on the ITM put spreads is 2.91 on a 40 wide. That’s what I’ll be selling against now over the next 70 or so weeks. Using spread sales to protect against runaway upside.
Sold OLED SEP 7 2018 130.0/135.0 Bear Call Spreads @ .55
#ironcondor TSLA sold Sept. 21…
#ironcondor TSLA #shortputspread #closing ANET
Sold Sept. 21 295/300/375/380 for 2.00, followed Beef at TT
ANET Yesterday sold Sept. 21, 230/240 put spread for 1.39, bought this morning for .85.
RTN
#LongCalls #LEAPS – Ratio’d with this week’s 200 short calls. I’ll be watching it closely. That’s a beautiful squeeze that looks ready to go higher.
GLD
#LongCalls #LEAPS – I’ve been staggering these out over 2-3 weeks selling the ratios. Once the near ones get profitable I put on a stop and sell the next batch. Just killing time with gradual basis reduction until it recovers.
Bought to Close GLD AUG 17 2018 116.5 Calls @ .01 partial fill so far (sold for .50)
Sold GLD SEP 7 2018 114.0 Calls @ .43
Still holding (with profits) Aug 24th 116’s and Aug 31st 115.5’s
DDS is down 14% on…
DDS is down 14% on earnings
NVDA #Supercharger closed #SuperCharger Sold…
NVDA #Supercharger closed
#SuperCharger Sold to close $NVDA Aug 17th 230/240 call spread for 9.25. Bought for 7.55 on July 21st. Took awhile, but taking profit today to clear out before earnings. 22.5% profit.
#rolling With the drop yesterday…
With the drop yesterday can pretty much roll everything instead of letting call out or assign. Bad few weeks for MU and WDC down 11 and 14% respectively. They were converted to #fuzzies so a little easier to manage now but this is the only account showing a drop.
New trade STO SQ next week 70 put for 0.95.
MU 55 leap 50 call rolled a yesterday dropping cost basis to 11.26
WDC 60 leap 65 call rolled yesterday dropping cb to 18.01
EOG 115 put 36 DTE was challenged yesterday. Cost basis 113.2 if assigned.
This made me realize an easier way to manage deep ITM #pietrades is to convert it to a put leap #fuzzy. Takes out the margin requirement. If keeps dropping can manage it to a put diagonal. If reverses can either add a call side or keep rolling the put up. As you do that the margin requirement will increase but still much less than naked puts. If I had done this with MU and WDC instead of converting to the call side I would be making $ now. With any leap strategy, the short option strike is what determines the profit loss at the expiration of the short option. Going forward I think this will be my preferred strategy but only for deep ITM puts (5 points or more). Otherwise will manage as a regular weekly #pietrade.
SPX hedge rolled next week 2550 short put out to 15 DTE for 0.6 credit. Hedge only costs 1.2 now and if we head to 2550 will still make 12k. Hope I don’t need it. Next month will use back ratio or risk twist.
TQQQ batch 1 65 cc expires tomorrow rolled to next week for 0.9 credit. cb now 62.98.
TQQQ batch 2 65 cc expires tomorrow rolled to next week for 0.9 credit. Cb now 63.23
AMAT batch 1 47 cc rolled out 2 weeks for 0.33. Cb 48.91. Few more weeks to cover it.
AMAT batch 2 47 cc rolled out 2 weeks for 0.31 credit. Cb now 45.88 and if I can’t get more than 0.5 on next roll will let it assign and move to another #pietrade
#fuzzy XBI 87 and 95 leaps with rolled the 96 and 96.5 short calls down to 95 for 15 DTE for 1.1 and 10.6 credits. Cb now 7.52 and 4.04 as they were separate batches.
TOS calculates diagonals weird. They are all showing a loss on the graph but nearly 20% reduction in cost in 1 month so make sure you keep track of your cost basis. In the end that is all that really matters with any trade.
Hope everyone is having a good week. Not much to do until next week now. At least I tripled my theta decay with all the rolls.
Taking off some profitable positions
Bought to close:
$OLED Dec 21 55 puts @ .15. Sold for 1.20 on 6/15 and 1.50 on 6/19.
$TPR Nov 16 40 puts @ .26. Sold for 1.55 on 5/1.
$CVS Nov 16 57.50 puts @ .36. Sold for 1.36 on 7/20.
$DISH Dec 21 22.50 puts @ .30. Sold for 1.20 on 5/8.
$IFF Nov 16 110 puts @ .50. Sold for 2.70 on 5/7.
Closing GUSH
Taking one of my December positions off.
Bought to close $GUSH Dec 21 57 calls @ .81. Sold for 4.00 on 5/15 and 6.00 on 5/17.
Still short the 46 calls.
#spxcampaign Morning all Bought to…
#spxcampaign Morning all Bought to close my Aug 17th 2760/2780 BuPS @ .20. A bit of a hairy ride yesterday but I didn’t panic out. Yay! I closed this out today as I’m taking some time off. My daughter flies in tonight from a science conference. She presented her research on birds as part of her grad school requirements. I’ll be back in a week or two. Need to see my brother and put up a violin display piece I made for our mothers violin. It has been a long project and challenged my craftmanship. I have a few TWTR, NUGT and MU calls that will expire tomorrow. I may roll them out to the end of Aug later today. Everything else is long term. So in my best Arnold voice: “I’ll be back.” Have a great couple of weeks. And thanks for all the teaching that goes on here. You guys are the best.
ERX
#LongCalls #LEAPS – First couple rounds of sales were non-ratio’d so already covered a nice chunk of the LEAPS cost. Switching to ratio’d now after the selloff. 3×5 with no upside risk.
Bought to Close ERX AUG 24 2018 37.0 Calls @ .06 (sold for .73)
Sold ERX AUG 31 2018 33.5 Calls @ .75
GLD
#assignment WYNN I was assigned…
#assignment WYNN
I was assigned 100 shares of WYNN from my rolled Sept 21, 155/165 put spread. Who would do such a thing(dividend)? https://www.youtube.com/watch?v=b9AOVdov5lE
AMAT call closed
#PieTrades #Earnings.
BTC $AMAT Aug 17th 46.5 #CoveredCall for 1.97. Sold for 3.56 last week as a roll. Leaving my stock alone for earnings report tonight.
NVDA earnings
#Earnings. Sold $NVDA Aug 17th 240 puts for 2.43.
In retirement accounts, sold 240/235 put spreads for .87
NVDA earnings after the bell
#Earnings. Here are the last 12 quarters’ moves on $NVDA:
May 10, 2018 AC -2.15%
Feb. 8, 2018 AC 6.69%
Nov. 9, 2017 AC 5.26%
Aug. 10, 2017 AC -5.32%
May 9, 2017 AC 17.82%
Feb. 9, 2017 AC -2.37%
Nov. 10, 2016 AC 29.80%
Aug. 11, 2016 AC 5.59%
May 12, 2016 AC 15.20%
Feb. 17, 2016 AC 8.60%
Nov. 5, 2015 AC 13.85%
Aug. 6, 2015 AC 12.37%
Wednesday Trades
#Earnings #Rolling Sold $TSLA Aug 24th 332.5/340 strangles for 18.60.
#CoveredCallCampaign Stopped $FB Aug 31st 180 puts for 3.40. Sold Sep 7th 172.5/187.5 #StrangleRoll for 3.07.
#ContangoETFs Stopped $GUSH Dec 32 put for 6.20. Sold for 5.05 in a strangle-roll months ago.
#StrangleRoll: Sold GUSH Dec 21/45 strangles x2 for 3.87.
Also, closed GUSH Sep 62 call for .10. Sold for 1.60.
#PieTrades BTC $OLED Aug 17th 120 call for .20. Sold for 2.00 on Friday.
BTC $MU Aug 24th 53 call for .10. Sold for .85 on Monday.
GOOGL Short Calls Closed Early / Rolled TRTN Calls
#shortcalls
Closed Early
$GOOGL BTC 8/17 1285/1275 BECS at .20 STO at 1.70
Rolled
$TRTN BTC 8/17 35 calls and STO 9/21 40 calls at 1.50 debit. Stock currently at 36.52
Need a Miracle on 34th Street
$M 8/17 39 puts were clobbered when Macy’s sold off on the news. Earnings are the ultimate binary event when done with naked puts.
#ironcondor #shortstrangles CMG AA Follwed…
#ironcondor #shortstrangles CMG AA
Follwed a couple trades from TT
AA sold Sept. 21 37/45 strangle for 1.40
CMG sold 485/490/550/555 for 2.22 CMG up big today
More DUST
Sold at highest strikes:
$DUST Jan 18 2019 50 call @ 4.00
$DUST Mar 15 2019 49 call @ 5.10
#shortputspread #rolling AVGO July 25…
#shortputspread #rolling AVGO ANET
July 25 sold an Aug. 17, 215/210 put spread for 1.00, thinking it was recovered from a 20 point post earnings drop, but that was temporary. Rolled today to September 21, 210/200 for .35 and issued an order for AVGO to rally into Sept. 9 earnings.
ANET sold Sept. 21 230/240 put spread for 1.39 after 8 point drop today to 262.
WDC #fuzzy rolled the 37…
WDC #fuzzy rolled the 37 DTE 70 call down to 65 for 1.25 credit. Cb now 17.78.
Some stuff on sale now for anyone that has cash. MU down 6.1%. Most of the chips are down. IBB, LABU, XBI all down nicely.
Interesting but a lot of the triple products are not down as much as some of the individual names in the indexes.
Personally I am finding them easier to trade. Not moving all my money into them but much easier to handle a 6 point drop in LABU than a 4 point drop in MU because the premiums are so much higher easier and quicker to work back to even or profit. Usually only takes 2-6 weeks. With the lower premiums I was stuck in GM for 22 weeks, looks like WDC and MU will be long termers as well.
#earnings CREE Yesterday, sold Aug….
#earnings CREE ROKU
CREE Yesterday, sold Aug. 17 45/55 strangle for 1.31, closed this morning for .28, the way it is supposed to go.
ROKU Aug. 8, sold a 48 straddle for 9.42, earnings trade, closed today for 8.22.
AMZN
STO August 24, 1730/1750 bull put spread for .65 cents. A small trade and may add to it if the market reacts to the post office report.
SOME TRADES:
TUR BTO STOCK @21.49
TUR STO 8/17/18 22.0 CALLS @.40 I was too early.
TUR STO 8/17/18 22.0 PUTS @.70 Will be glad to own them at 21.30. 2.5 days to expiration.
STZ is down 8% on…
STZ is down 8% on investment news
Reversal signal on /ES on…
Reversal signal on /ES on the new indicator, can’t post it, on a different computer. What is @fibwizard showing.
QQQ put spread
Sold $QQQ Sep 21 174/164 bull put spread for 1.40 credit, to offset and create and iron condor with the 186/196 call spread I sold on 8/13. Delta of the short 174 puts is 32.
DUST Oct and Nov
Initiated positions in these months. Premiums have gotten better since I put these on a little while ago.
Sold at highest strikes:
$DUST Oct 19 49 calls @ 1.60
$DUSH Nov 16 49 calls @ 2.00
#fuzzy roll. Taking advantage of…
#fuzzy roll.
Taking advantage of the weakness in the chips. Rolled next week MU 54 call down to 16 DTE 50 call for 1.17 credit. Co
Probably do the same later with WDC if I have time.
Selling below the long leaps now so will have to be aggressive about rolling/managing.
TSLA mgmt
AMZN At the Bell STC Last One
#longcalls
$AMZN STC 8/17 1820 calls at 97.00 BTO at 68.08 on 7/26
New tool. Not advertising here…
New tool. Not advertising here but works well in chop. Not going full directional like @fibwizard but I think this will help with my #pietrades by pointing out the actual pivots in real time. I just can’t make it work for me because of schedule, wish I could I know there is money to be made there. So I need something that does it for me. Alphashark calls it the tide trader or something like that. Uses a combination of volume, momentum, oscillator (can’t figure out which one but I think RSI looking at the math) and ATR so it is a Frankenstein indicator. However, it already helped me to hedge my SPX hedge as I saw the reversal. Takes some adjusting to each name. You have to figure out which ATR works best for what you are trading or you get too many or not enough signals. On /es and most stocks a setting of 2 is god but NFLX/AMZN take 10s. Default is 0.5 and just too many signals.
Special is $259 but I don’t know how long. An upper indicator, the big arrows and a lower. Increasing green wave go long. Purple dot possible reversal point. Increasing red wave short. Can change it for any time frame. Easy enough even I cannot miss the signal. Only traded with it 2 times so far but is helping recover MU and WDC positions by letting me sell options closer to the money.
Will update as I use it.
M Earnings
Here’s my trade for tomorrow am:
1. STO qty 10 sep 34 puts @.44
2. BTO qty 1 sep 41/39 put debit spread @ .85
3. BTO qty 1 38/36 put debit spread @ .51
BE $33.30, profit levels: step 1 $304, Step 2 $504, Step 3 $704. 50% of step is my target.
A TRADE: More of the same name.
TUR STO 8/17/18 21.0 CALLS @.85. COVERED
AZO
Interesting to watch here. Starting to look like last quarter. Yuuuuge rally on ORLY and AAP earnings. Of course we know what happened next…LOL
TRADES:
TUR BTO STOCK @20.81
TUR STO 21.0 PUTS @.85 Cost basis will be 20.15. Stock now at 20.81
#earnings #closing HD Yesterday sold…
#earnings #shortstrangles CREE Sold Aug….
#earnings #shortstrangles CREE
Sold Aug. 17 45/55 for 1.31
AMZN Long Calls / AMZN GOOGL Short Puts / TNDM Short Puts
#longcalls
Close Early
$AMZN STC 8/17 1820 calls at 95.50 BTO at 68.08 on 7/26 Have one left with a stop on it
#shortputs
$AMZN STO 9/7 1780/1800 BUPS at 2.70
$GOOGL STO 9/21 1190/1210 BUPS at 4.50
Closed Early
$TNDM BTC 8/17 30 put at .40 STO on 8/1 at 3.00 Thank you @honkhonk81
HIIQ STO 8/17/18 50.0 PUTS…
HIIQ STO 8/17/18 50.0 PUTS @.98
TUR STO 8/17/18 20.0 PUTS @.51 Looking for a back door into the stock.
TUR STO 8/17/18 21.0 CALLS @.60
AMBA
#LongCalls #LEAPS – Early sale replacing this week’s…
Sold AMBA AUG 24 2018 39.0 Calls @ .50
OLED
BTC September 21, 80 puts @.05, sold as a falling knife at 3.30 on a small trade of 2 contracts.
#shortputs C sold Sept. 21,…
#shortputs C
sold Sept. 21, 67.50 for .79.
SPX calls sold
#SPXcampaign. Back in the game again! Sold $SPX Aug 31st 2860/2885 call spreads for 6.70. I was waiting for an Upside or Downside warning before throwing on my first spread in weeks.
BABA
#LongCalls #LEAPS – Earnings next week so I may adjust this call sale between now and then. Non-ratio so still looking to exit on negative deltas…
Bought to Close BABA AUG 17 2018 182.5 Calls @ .32 (sold for 2.20)
Sold BABA AUG 24 2018 180.0 Calls @ 3.37
FB Short Puts Close Early / Covered Call ALRM AAXN/ AMZN Calls Closed
#shortputs
Closed Early
$FB BTC 8/17/155/165 BUPS at .05 STO at 1.80 on 7/26
#coveredcalls
$ALRM STO 8/17 52.5 calls at .25
$AAXN STO 8/17 65 calls at .40
Looking to empty my positions while making dinner money.
#longcalls
$AMZN STC 8/17 1820 calls at 97 BTO at 68. Still have a few left. I probably should have closed them all.
Trades
Catching up on posting from the last 7 days…
TODAY (Monday)
#CoveredCallCampaign
Sold $AAPL Aug 24th 202.5 #CoveredCalls for 7.00. This replaces the Aug 17th 202.5 calls I closed last week for 7.40, to avoid being called away on the ex-div date. I’m rolling ITM calls after earnings trade got breached.
Sold $SQ Aug 24th 76 call for 1.25, and Aug 31st 76 calls for 1.23
#SyntheticCoveredCalls
Sold $PYPL Aug 31st 90 calls for 1.10. A roll-up from Aug 24th 87.5 calls stopped last week.
#PieTrades
Sold $MU Aug 24th 53 covered call for .85. #PieTrades
LAST WEEK
#Rolling #StrangleRoll $TSLA Aug 17th 332.5 calls to Aug 17th 332.5/335 strangles for .65 credit. Will roll soon to avoid early assignment.
#Earnings Bought $YELP Aug 10th 38.5 #LongStraddles for 4.94. Sold the calls next day for 9.95. This trade usually works on YELP.
Stopped $FB Aug 24th 187.5 covered calls for 3.85. Rolled to Aug 31st 180/195 strangles for 3.83. Looks like I got stopped at the top. #CoveredCallCampaign.
#PieTrades Rolled $AMAT Aug 10th 46.5 covered call to Aug 17th 46.5 for .30 credit.
#VXXGame Closed $VXX Sep 21st 50 call for .46. Sold for 5.65 on April 17th.
Downside Warning AGAIN
#VIXIndicator. 2018 is the year of the rollercoaster. Today’s close triggered anther warning for potential drops in the market.
#earnings #ironcondor HD Sold Sept….
#earnings #ironcondor HD
Sold Sept. 21 170/180/210/220 for 1.17
#pietrades and trying to get…
#pietrades and trying to get some theta decay back, almost went negative on the core account.
New trades
TQQQ lot 1 65 cc expires this Friday for 63.88.
TQQQ lot 2 65 cc expires this week for 64.13.
SPX hedge, STO some 11 DTE 2550 puts to offset the decay loss on the long hedge. Sold for 1.1 dropping cost basis to 1.80. Should also be able sneak in another sale and then roll as calendar, back ratio, or risk twist. Still playing around with the most efficient hedge.
Sea of red in my core account (of course the most important one) but the other accounts theta is doing its job. After I clear out the WDC, MU earnings drops will be moving more toward ETFs to limit some of the single stock risk that keeps being affected by tweets. SMH will give coverage to that sector with decent premiums.
Not going full directional or advertising for them but alphashark has a new tool that picks up reversals very well. Currently it is $259, increases to 999 soon. Installed it last night. Have to adjust settings based on ATRs but seems like it works well. Seems to nail the reversal within a half bar on any time frame. Added it to some of my other indicators and will post some trades with it after I use it for a while and figure out the settings.
#shortstrangles TUR Lots of attention…
#shortstrangles TUR
Lots of attention on TUR at TT. Sold Sept. 21 16/23 strangle for 1.30.
Time for turkey jokes.
QQQ calls
The Nasdaq is near resistance. Sold $QQQ Sep 21 186/196 bear call spread for 1.39. Delta of the short strike around 30.
Dec DUST
Sold $DUST Dec 21 45 calls @ 1.25. Highest strike.
Econ Calendar for week of 8/13/18
A very light week with…
A very light week with a number of retailers reporting next week as Earnings season winds down.
+++++++++++++++++++++++++++
NOTE: There may be errors and omissions in this list. Please perform your own due diligence and confirm the earnings date BEFORE entering a trade.
+++++++++++++++++++++++++++
Notable Earnings AM Mon:
SYY, TSG
Notable Earnings PM Mon:
HUYA, SWCH, VIPS, YY
Notable Earnings AM Tues:
AAP, ARRY, BZUN, CDK, CSIQ, EAT, EYE, GDS, HD, TPR
Notable Earnings PM Tues:
A, CASA, CGC, CREE, MYGN, WPM
Notable Earnings AM Wed:
M, PFGC
Notable Earnings PM Wed:
CSCO, NTAP
Notable Earnings AM Thurs:
DESP, JD, WMT, WUBA
Notable Earnings PM Thurs:
AMAT, JWN, NVDA
Notable Earnings AM Fri:
DE
Notable Earnings PM Fri:
None
CRM Called Away
#assignment
$CRM Shares called away at 144. Basis 122.10
LITE BUPS Closed Early / AAXN Short Calls Closed Early
#shortputs
Closed Early
$LITE BTC 8/17 50/55 BUPS at .30 STO 7/16 at 1.25
#shortcalls
Closed Early
$AAXN BTC 8/17 80 calls at .05. STO at 2.25 on 7/23
SPX Campaign / Rolled MZOR puts
#spxcampaign
$SPX STO 8/24 2760/2785 at 2.70
#shortputs
$MZOR BTC 8/17 70 puts and STO 9/21 70 puts at an additional .04 credit. Yes Four Cents. But I get 4 weeks.
NVDA
#ShortPuts #IRA – Freeing up some more room in an #IRA. Earnings on this one next week so maybe get a chance to sell it again.
Bought to Close NVDA JAN 18 2019 150.0 Put @ .67 (sold for 4.40)
#fallingknife MCHP is down 11%…
Selling some premium in TSLA
Selling an iron condor with a body width of 100 points in September. Lots of uncertainty with this stock so there’s good premium out of the money. Short strikes are near 20 delta. Risking 6.70 to make 3.30. If this makes a strong move in either direction I’ll roll the other side in for additional credit.
Sold $TSLA Sep 21 290/300/400/410 iron condor @ 3.30.
Market
Is this the start of something bigger or just the weekend selling?
TQQQ
In my IRA, I bought the 2020, 66.67 calls and sold the August 17, 69.5 calls for a net debit of 16.05 so need .22 cents per week to break even.
AMAT ERX
#LongCalls #LEAPS – A couple rolls today…
AMAT:
Earnings next week…
Bought to Close AMAT AUG 10 2018 48.5 Calls @ .03 (sold for 1.60)
Sold AMAT AUG 17 2018 49.0 Calls @ .86
ERX:
Bought to Close ERX AUG 10 2018 37.0 Calls @ .05 (sold for .60)
Sold ERX AUG 24 2018 37.0 Calls @ .75
$Hegdavis WDC WDC, keeps going…
$Hegdavis
WDC
WDC, keeps going down. Converted to LEAP #fuzzy earlier in week. Was trying to roll to next week at 70 but because of the internet issues it somehow rolled to 66. Ok so took in a lot of cash but then the internet went down for a few hours. Of course during that time WDC reversed so was losing $ on the new trade and deltas were already flat. So rolled out to 43 DTE and up to 70. Took in 1.32 on the 66 call but had to buy them back and roll for 1.02 debit. So anyway after all that, now have the 60 LEAP 70 43 DTE call spread for cost basis of 19.03. If we rebound will buy back 2-3 of the short calls to let it run. Break below 65 will collar it to prevent further losses. As long as it stays 65-70 should break even in about 6-8 weeks.
As WDC is starting to break below 65, at which point would you consider a collar? Just closed out the short 08/17 70 @ 0.05 so just holding the 60 LEAP. Would appreciate your advise with this.
Options Bistro 