#jadelizard SFIX
Tastytrade idea sold Nov. 16, 26/32/34, (+26 put, -32 call, +34) call for 2.23.
Recent Updates Page 306
TBT 2x or 3x?
Hi Guys!
It’s been awhile since I posted, thought I’d pop in here and say hi! I’m deep in the weeds at Option Pit. I’m in their pro group now. My trading is changing quite a bit, to a style that is more “book management” than “trade management.” Using low volatility to build a catalog of long puts and calls, then selling around them to pay for the decay, and selling out the longs as the market demands (for example I have a bunch of IWM puts that are getting close to being up 100% now, so I’m metering them out). I’m doing a lot of ratio calendars to acquire the longer dated options at a discount. This would be impossible to do with the old commission structures that had a ticket fee + contract fee. Thank goodness Tasty Trade caused a lot of pricing innovation! It’s less stress knowing a big move in either direction pays out nicely….it’s just managing the middle that’s important. It’s going to be an interesting quarter with everything going on. I’ll try not to be such a stranger!
Sue
Closing trades
Rather than posting closing trades throughout the day, I plan to post a daily summary. I’ll continue to post opening trades individually to ensure that they’re timely in case anyone wants to follow.
BA. Strong stock in strong sector strat. BTO Oct26 lophir @ -2.61. STC @ -.80 for 70% profit. Days in trade 12
AAPL. Pre-ER strat. BTO Oct26 supercharger @ 7.93. STC @ 9.40 for 16% profit. Days in trade 8
NFLX. Pre-ER strat. BTO Oct19 lophir @ -8.31. STC @ -2.50 for 70% profit. Days in trade 13
Note: Profit on lophirs is based on credit received, not max risk. I’m willing to report based on max risk if you all prefer that.
AMZN lophir rinse and repeat
Couldn’t resist adding another AMZN lophir on today’s pullback. My trading plan allows me to own two at a time.:-)
Bot AMZN Oct26 +1p/-2p/-1p/+2p 1940/1885/1840/1780 @ -14.40. GTC order to close @ -7.20.
VIX strat
Sold VIX Nov 18/28 BeCS @ .70 against my Feb and Mar BuCS.
This is my long-running strat where I sell short-dated 10-wide call credit spreads on continuous low volatility or small spikes and buy long-dated call debit spreads 10-wide whenever they are cheap, meaning less than $1. The long dated debit spreads provide protection for the call credit spreads and also serve as insurance against big overnight market drops.
#VIXGame
#shortcallspreads IWM Sold Nov. 16…
#shortcallspreads IWM
Sold Nov. 16 170/175 for .85
AAPL roll & TSLA quickie
#CoveredCallCampaign
BTC $AAPL Oct 12th 215 put for .35. Sold for 2.05 on Sep 25th
Stopped AAPL Oct 12th 227.5 call for 3.65. Sold for 2.13 on Sep 20th.
#StrangleRoll Sold AAPL Oct 19th 222.5/235 strangle for 3.21.
BTC $TSLA Oct 5th 320 call for 1.00. Sold yesterday for 5.75.
LABU
#LongCalls #LEAPS – Added one to the 2020 position averaging down…
Bought LABU JAN 17 2020 110.0 Call @ 13.70
EWZ
#fuzzy
Rolled EWZ 5 OCT 35 Call to 19 OCT 35.5 Call @.46 Credit
#fallingknife SFIX SFIX is down…
#fallingknife SFIX
SFIX is down big today after earnings, this is a Motley Fool best buy, AMZN is doing something similar. I choose my own clothes, waiting to see how far this falls.
TQQQ
STO, January 2019, 55 puts @2.60, this is a partial sale against my 2019, long position of the 50 puts in 2019. This was a bearish trade that is not working so far.
LABU
#ShortPuts #IRA -Thanks @MikeL for the reminder. Currently in a Dec 45,50,60 ladder so adding a Jan.
Sold LABU JAN 18 2019 60.0 Put @ 3.40
AAPL
#leaps
Rolled AAPL 5 Oct 225 Call to 19 OCT 227.5 @.12 Credit
XBI.
#fuzzy
BTC XBI 5 OCT 18 97.5 Call @.02…STO 9/28 @.39
STO XBI 12 OCT 18 95 Call @.56 with XBI @93.04
A TRADE: Added a little.
SFIX BTO STOCK @29.99
FYI BZQ ETF is down…
FYI
BZQ ETF is down 11%
#shortputs STO LABU Nov02’18 70…
STO LABU Nov02’18 70 PUT @ 1.85
NFLX pre-ER lophir
This pre-ER 37/30/20/10 lophir replaces the one that closed for profit earlier today.
Bot NFLX Oct 19 +1p/-2p/-1p/+2p 365/357.5/340/325 PUT/PUT/PUT/PUT @ -6.70 x1
Breakeven point 343. GTC order to close @ 2 for 70% profit. Will close before ER if it hasn’t closed before.
Covered Calls
#CoveredCallCampaign
BTC $BABA Oct 5th 170 call for .15. Sold for 1.55 on Sep 19th.
Sold $OLED Oct 12th 126 call for 2.00.
Sold $FB Oct 19th 157.5 puts for 2.30
And #Earnings Repair:
BTC $TSLA Oct 12th 250 put for .93. Sold for 11.30 on Friday.
Rolled to: Sold $TSLA Oct 12th 285 put for 4.15
AVGO TNA SJM
#ShortPuts #IRA – Closing a margin hog for nice gain and replacing with a couple others….a Feb type selloff would put TNA at about 67 so looking at that level.
Bought to Close AVGO JAN 18 2019 170.0 Put @ .41 (sold for 5.00)
Sold TNA DEC 21 2018 70.0 Put @ 2.35
Sold TNA JAN 18 2019 65.0 Put @ 2.30
A divvy play on SJM. Would love to get it down here…
Sold SJM JAN 18 2019 95.0 Put @ 2.39
#coveredcalls Covered up my long…
#coveredcalls Covered up my long high basis MU with Oct 5th 47.5 calls with the stock at 47.58. Whittling away.
#callratiospread SQ TastyTrade idea sold…
TastyTrade idea sold Nov. 19, 100/110, bought one 100 call, sold 2 110 calls for .52.
BOILing over
#ContangoETFs My next order filled; sold $BOIL Jan 2019 45 call for 2.25. Next order in to sell at 3.00.
MELI
BTO 330/340 Bull call spread @ 6.74
REGN long
#SuperCharger Replacing the NVDA one that closed yesterday. This expires before earnings.
Bought $REGN Oct 26th 380/390 bull call spread for 7.35. Price target 9.40.
#gold Sold NUGT for $13.95,…
#gold
Sold NUGT for $13.95, bought 9/12 for $11.94 worth the wait
#spxcampaign #ironcondor Sold to open…
#spxcampaign #ironcondor Sold to open Oct 15th 2850 / 2830 BuPS for 1.10 when SPX was at 2920 Stop loss on the IC is 3.65 with profit set at .20
A TRADE:
SFIX STO 10/5/18 34.0 CALLS @.60 Will buy stock to cover if necessary. Expires Friday.
Chips are breaking out
#PieTrades #LongCalls
Sold $MU Oct 12th 47 #CoveredCall for .90.
Still long Oct 5th 45 calls, bought for 2.02 on Sep 20th, which hasn’t worked out yet and probably should have taken a 50% loss last week. But maybe I’ll get the breakout just in time.
#spxcampaign Sold to open Oct…
#spxcampaign Sold to open Oct 15th 2885/3005 BeCS for 0.65 when SPX was at 2926. I have a BuPS to pair waiting for a fill.
BABA
STO October 19, 165 calls at 1.92 to offset my January 2019, 200 calls. I also have the 185 calls that expire on Friday so I am pre selling the calls.
A TRADE:
TNDM STO 10/12/18 41.5 CALLS A chance I’ll have to buy stock to cover.
NFLX lophir closed
#Lophir Closed on GTC order: $NFLX 300/325/340/350 lopper for 2.50. Sold for 8.35 on Sept 19th. Thanks MamaCash!
Fuzzy – I have a…
Fuzzy – I have a document by Adam Mesh where he buys a call, then sells one for a debit. As he rolls the sold
strike, he get’s a credit . the bought call is 5 -7 weeks out and is 1 strike ITM. He makes money as he rolls the short strike at .05 db. This reminded me of Fuzzies. Is it? I have not been here for awhile so my memory is a bit vague on Fuzzies. Thanks
Pre-market
/CL STO the 43 DTE 88 call for 0.24 for the 64/88 strangle.
Looks like it may have finally found a top.
Trades
#shortputs
Rolled Again
$GOOGL BTC 10/5 1190/1210 BUPS and STO 10/19 1190/1210 BUPS at 1.47 extra credit. Earnings after expiration.
#shortcalls
$CRON STO 10/5 12.50 calls at .50 Covered
$AMZN STO 10/5 2012.5 calls at 27.00 Sold against 10/19 1900 calls. Earnings 10/25
#longcalls
Closed Early
$BA STC 10/19 350/370 BUCS at 17 .00 BTO 9/12 at 8.13
$VRSN BTO 11/16 160/165 BUCS at 2.41
AMZN Afternoon all. #ironcondor Legged…
AMZN Afternoon all. #ironcondor Legged into an Oct 19th Iron Condor with AMZN @ 2010+/-
1860/1840 BuPS @ 1.33 and 2160/2180 BeCS @ 1.23. Profit targets either side is .30 with a stop loss at 4.10.
#shortputs #rolling NKTR Rolled Oct….
#shortputs #rolling NKTR
Rolled Oct. 19, 60 put to Nov. 19 for 3.88, NKTR down over 4 points today, looking like a #fallingknife candidate.
A TRADE:
TNDM STO 10/12/18 36.50 PUTS @1.05
NVDA closed
#SuperCharger Sold to close $NVDA Oct 26th 247.5/257.5 bull call spread for 9.50. Bought for 7.25 on Sep 21st.
AAPL roll
#CoveredCallCampaign
BTC $AAPL Oct 5th 215 puts for .15. Sold for 1.78 on Sep 15th.
Stopped: $AAPL Oct 19th 227.5 calls for 3.90. Sold for 2.10 on Sep 25th.
#StrangleRoll: Sold Oct 26th 220/232.5 strangles for 4.75
SJM
Partial fill, BTC October 19, 85 puts @ .05, sold at 1.16
TRADES:
MSFT 10/12/18 STO 115.0 PUTS @1.03
MSFT 10/12/18 BTO 110.0 PUTS @.16 A BuPS
ESPR 11/16/18 STO 60.0 CALL @4.10
Added BOIL
#ContangoETFs Sold $BOIL Jan 2019 45 call for 1.75, adding to my position. Order in for another at 2.25.
Oil
Already closing the 84.5 44 DTE call on the strangles. Only $200 loss. Leaving the put open until oil either forms a new range or reverses. Re-entry is only a commission away.
TRADES: Some posted late.
TNDM STO 10/5/18 44.0 CALLS @.70
TNDM STO 10/5/18 43.0 CALLS @.80
TNDM STO 10/5/18 38.50 PUTS @.85
ESPR STO 11/16/18 40.0 PUTS @3.10
ESPR STO 11/16/18 55.0 CALL @5.60
VIX insurance
Added a couple more VIX Mar 20/30 call debit spread @ .95. This is a hedge, not looking for profit.
ISRG
STC on GTC order ISRG -1 1/-2/-1/2 26 OCT 18 547.5/535/520/505 PUT/PUT/PUT/PUT @-1.74…BTO 9/19 @-3.75 #lophir. Thankyou @MamaCash
Gartman goes long
https://www.zerohedge.com/news/2018-10-01/gartman-defies-wall-street-goes-long-us-stocks-short-europe?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
TWTR
BA
STO December 345 puts @ 5.10 with stock at 380
SVXY
I am selling covered calls to earn some premium.
STO October 19, 62 calls at .38 cents and .35 cents. I intend to roll these into the new year if I have to but will be taking a loss to offset any profits for this year.
BA
STC October 12, 350/360 bull call spread at 9.55, bought at 7.90
FDN VRSN directional trades
Bot long positions on these two based on weekend research. That research did not take into account the gap up at today’s open but like the charts so took some extra risk.
FDN unhinged fuzzy. Bot Nov +1c/-1p/+1p 143/143/139 @2.62 x1 debit. GTC to close at double debit.
VRSN call debit spread. Bot Nov 160/165 BuCS @ 2.49. GTC to close @ 4.
AAPL pre-earnings lophir
This is a CML-inspired trade from the Discover tab. This lophir has 37/30/25/10 deltas so double the net delta that I usually do. The backtest is based on 30dte opening 30 days before earnings and closing 10 days before earnings. We don’t have a confirmed ER for AAPL so based this trade on past Oct-Nov ERs for AAPL.
Bot AAPL Nov2 +1p/-2p/-1p/+2p 220/217.5/215/202.5 @ -2.65 x1. No GTC order. Will close 10 days before ER.
#shortputs #fallingknife TRTN Sold Jan….
#shortputs #fallingknife TRTN
Sold Jan. 19, 30 put for 1.45.
#ironcondor #closing TSLA bought Oct….
#ironcondor #closing TSLA
bought Oct. 19 255/260/340/345 for 1.33, sold Sept. 25 for 1.57, small victory.
AMZN
BTO Oct 12 1975/1977.5 calls 1.89 #supercharger
Order in to close 2.40
Good Morning
Good Morning
Econ Calendar for week of 10/1/18
Link to calendar: http://mam.econoday.com/byweek.asp?cust=mam
TSLA call
Sold $TSLA Oct 5th 320 call for 5.75. Expires on Friday. Against a 250 put sold Friday as a roll, (trying to close for 1.00)
/CL
More lawn mowing musings from the weekend. After reviewing oil trades from the last year realized all the losses were because 1 side was always run over on the strangles or IC. If I had just paid attention to direction almost all of them would have been profitable. Oil is still moving up but much more slowly and my indicators are pointing to slowing momentum and seasonality effects should also kick in. Not giving up on oil, I see the potential profits but will be much more aggressive managing these either by converting to spreads quickly or rolling the losing side out quickly.
With that in mind, sold the 45 DTE 64 put last night at 0.29. The pause this morning sold the other side 84.5 call 44 DTE for .022 for the 64/84.5 strangles.
Small size until I see how my adjusting works.
TSLA
Per CNBC…SEC settles charges with Tesla’s Elon Musk, will remain as CEO but relinquish chairman role
AMZN expiration
1680/1700 bull put spread @ .93 cents on 10 contracts. It pays for a nice case of wine.
AMAT AMBA DUST and scaling in
#LongCalls #LEAPS – Something I’ve started doing on these longer term positions is really working nicely. I’m setting the initial position after a pullback (or run up for short positions) and only starting with about a half position. This allows nice gains if my timing is perfect (ya right! LOL) but more importantly it allows a nice averaging down into the full position and drastically reducing the cost basis (in addition to the weekly selling).
Added another AMAT today:
Bought AMAT JAN 17 2020 50.0 Call @ 2.43
I’ve added 3 times now. Original half position at 7.70 and adds at 2.55, 2.55, and 2.43 reducing basis to 5.75 overall. Weekly sales have further reduced this to 4.12 with the position out to 2020. LEAPS are trading at 2.40 now so slightly underwater but not nearly as bad as it would be had I gone all in from the beginning.
AMBA is an even better example. Original position at 11.20 with adds at 11.00 twice to get to a half position. Added the other half after the implosion at 5.20 and 3.40.
New basis is 7.44 with weekly sales reducing that to 3.93. The LEAPS are trading at 4.65 so the position is actually profitable in spite of over a 30 percent selloff since starting the trade. What really helped was piling into my full position on the big earnings drop on Aug 31st. Actually caught the bottom there so a big help.
Same thing with the DUST short position. Started at 14.50 with adds at 14.20, 14.00, 13.49, and 12.50 getting to only an 80 percent position but the trade is nicely profitable already.
Options Expiration
#OptionsExpiration – Had a few this week…
AMBA 39 Calls (sold for .70)
EWZ 35 Calls (sold for .46)
LABU 98.5 Calls (sold for 2.10)
PYPL 88.5 Calls (sold for .75)
SMH 106.5 Calls (sold for .77)
XBI 97.5 Calls (sold for .80)
PYPL SMH
#LongCalls #LEAPS – Finally got part of the PYPL weeklies to expire and all of SMH with a nickel to spare…LOL Replacing SMH with a lower ratio and rolling the rest of PYPL.
Rolled PYPL SEP 28 2018 87.0 Calls to OCT 12 2018 88.5 Calls @ .20 credit
Sold SMH OCT 12 2018 108.0 Calls @ .85
SPX Campaign / DTEA AMZN Short Puts / MTN Short Calls
#spxcampaign
$SPX STO 10/12 2825/2850/2985/2960 IC for 4.10 Thank you @jeffcp66
#shortputs
$DTEA STO 11/16 5 put at 2.70 Downside not that far down
$AMZN STO 1700/1720 BUPS at 1.90 Thank you @jdietz1954
#shortcalls
Closed Early
$MTN BTC 10/19 310 calls at .10 STO at .90 Earnings looked good but street freezing the stock out
Options Expiration for 9/28
$CAT 130/120 bull put spread
$DUST 49 calls
$SPXW 2930/2950 bear call spread
That’s it for this week. Have a relaxing weekend.
Expiration 9/28
SPexcel
$SPX just finished its best quarter since 2013. It didn’t really feel like that.
“For the quarter, the S&P 500 rose 7.2 percent, its best quarterly gain since fourth quarter 2013. The Nasdaq also notched a 7.1 percent quarterly gain, its best since first quarter 2017. The Dow outperformed in the third quarter, rising 9.3 percent.”
https://www.cnbc.com/2018/09/28/us-markets-political-turmoil-and-data-take-center-stage.html
Options Expiration 9/28/18
#OptionsExpiration #SPXcampaign
— Expiring —
$SPX 2815/2840/2950/2975 condors, sold for 3.65 on Sep 13th
Expiration
$BA 340/350 BUCS Thank you @jsd501
$SPX 2815/2840 BUPS Thank you @jeffcp66
$M 36.5 Calls (Covered)
$TNDM 41 Puts Thank you @honkhonk81
$ROKU 71.5 puts Thank you @honkhonk81
Double down
#PreEarnings I wasn’t planning on increasing size on this, but I’m getting such a discount today that I figured why not. If we don’t bounce by Monday or Tuesday, this won’t be looking too good.
BTO $JPM Oct 12th 116 calls for .50, adding to my position, started yesterday for 1.14.
