Closed spread from yesterday 1.01 bought for .71 small profit but not sure we will
continue down
Recent Updates Page 322
HD
BTO May 25 188.50/190.00 Calls 1.25 #Bitty
UVXY
#BearCallSpreads – Replacing some of the ones that have closed recently. One fourth size to allow room to add.
Sold UVXY SEP 21 2018 20.0/30.0 Bear Call Spreads @ .71
UVXY
#BearCallSpreads – Surprisingly, the rest of this filled today…
Bought to Close UVXY JUN 15 2018 25.0/35.0 Bear Call Spreads @ .06 (sold for .81)
NVDA
#LongCalls #LEAPS – Booked this one a little early so I could get the next sale going…
Bought to Close NVDA MAY 18 2018 260.0 Calls @ .34 (sold for 3.57)
Sold NVDA MAY 25 2018 255.0 Calls @ 2.59
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Looks like I’ll be rolling the short puts down so bringing the short calls down and in with them. May end up with a short straddle for next week…
Rolled TSLA JUN 1 2018 312.5 Calls down and in to MAY 25 2018 295.0 Calls @ 2.20 credit (6.90 total now)
TLT
#PerpetualRollingStrangles – Going out a couple weeks on next sale…
Bought to Close TLT MAY 18 2018 119.5 Calls @ .05 (sold for .52)
Sold TLT JUN 1 2018 119.0 Calls @ .40
LUV
#LongCalls #LEAPS – Another week done…
Bought to Close LUV MAY 18 2018 53.5 Calls @ .08 (sold for .60)
Sold LUV MAY 25 2018 53.0 Calls @ .32
EWW
#LongCalls #LEAPS – This completes another double dip. NAFTA deadline this week so it could go anywhere…
Bought to Close EWW MAY 18 2018 49.5 Calls @ .03 (sold for .36)
Sold EWW MAY 25 2018 48.0 Calls @ .25
Closed my SVXY at $13.145,…
Closed my SVXY at $13.145, bought for $133.57, now I don’t have to look at it anymore.
ERX
Rolled May 18, 37.5 calls to June 29, 38.5 calls for a credit of 1.05
#Coveredcalls Rolled my ROKU May…
#Coveredcalls Rolled my ROKU May 18th 37 Calls down to 36 for a .20 credit.
Gartman
Funny, according to SMM, Gartman wrote that he has to be bullish and that was yesterday in his letter.
SPX puts closed
#spxcampaign
Yesterday: Closed $SPX May 31st 2570/2545 put spreads for .35. Sold for 2.85 on May 4th.
This morning, pre-market: Closed SPX June 1st 2610/2585 put spreads for 1.30. Sold in a #CondorRoll last Wednesday, for 2.45 for the put side. I closed this to lighten the load if we get crushed today, and to give myself a nice chunk of buying power back.
A-bomb
#Earnings Big drop in $A this morning… I called my strangle “super-safe”… it has only ended the day after earnings over 10% down twice in 16 years, and exceeded 10% intraday one additional time. So this is an unusual move, but we have until Friday for recovery.
Interest rates
The 3 month treasury bill now have a higher yield than the S&P 500 so it is a risk free return for institutions.
Tumbling
Volatility has not left the building
Catching Up on Monday
Out all day for a golf outing. Weather great. golf needs improvement.
Closed Early
$SPX BTC 5/18 2750/2725 BECS at 10.50 STO at 2.70
$TSLA BTC 5/18 350/340 BECS at .05 STO at .90
$GOOGL BTC 5/18 1047.50/1055 BUPS at .10 STO at 2.60
$AAPL STC 6/15 165/180 BUCS at 14.00 BTO at 6.25
$NFLX BTC 5/18 300/310 BUPS at .30 STO at 1.95 Closed half of position
#rolling
$SPLK BTC 6/1 110 call and STO 8/17 120 call for 1.30 debit. Gained $10 on call price but stock spelunked
#spxcampaign
$SPX STO 6/15 2585/2610 BUPS at 1.65 Thank you @jeffcp66
#earnings #shortstrangles
$A STO 65/75 strangle at .78 Thank you @jeffcp66 Put side will need watching
Directional tweak to #pietrades. Less…
Directional tweak to #pietrades. Less adjusting, faster and larger profits. Not going full directional but I am using a 4 hour chart with all my technical indicators to improve the probability of the trade working out. 4 hour charts seem to predict the next week expiration fairly well.
Example below is of IBB. I sold the 104.5 put for 1.15 on Friday. If you notice, it was coming off support and had just signaled a buy signal, confirmed on 3 indicators. Not that they can’t be wrong but they are fairly accurate. Perfect time for a close to the money or even ITM put sale. In retrespect I should have sold ATM.
The second chart is MAR which I sold a put on today. Normally a chart like this I would sell an ITM CC with the expectation that it would pull back. I could then roll the call to the next week for additional income. Today I had exactly 8 minutes for lunch and it was quicker to sell the put. So my logic is that it will pull back a few points but looking ahead to next week if assigned at 139 = 137.90 cost basis, I can immediately sell the 138 call for 1.75-1.9 for 4 DTE or 2.35-2.55 for 11 DTE to gain additional cash and dropping cost basis another 1-2 points. Sometimes by looking a week or 2 ahead you can see in advance how to manage the trade if it ends up ITM. My hip is to be just barely assigned, then roll to CC until called away. Then rinse and repeat.
5/14 Trades
Happy Monday everyone!
AMZN: #PieTrades sold May 18 1600 put for $11.15 (last week received full profit of $1071 on a CC)
CVX: Daddy loves his dividends. Bought him some shares for 5/17 $1.12 div this week (@130.23) sold May 25 133 call for .41, will watch to be sure I stay out of the danger zone on the short call w/ div this week. Playing oil shares for div’s has bit me in the past, but he just really really loves dividends, much as I try to explain reality to him.
TSLA: Added @fuzzballl ‘s trade to balance out the short I have on it (Jan 2020 290/390 bull spread with June 1 310 short call). So much drama envelopes this stock, having both sides on sounds good to me. TSLA is like that famous “Daughter/Sister/Daughter/Sister” scene from Chinatown. $100, no $500, no $100, no $500. 🙂
BABA: 1×2 spreads for this week closed for 70-95% profit, added naked puts for friday 197.5 strike for 1.91 cr for #pietrades assignment
GRUB: A top IBD stock, sold puts for Friday 101 strike @ 1.50 cr for #pietrades assignment
MU: Added a new Fuzzy: Jan 19 55/55/47 @3.69, May 18 55.5 call @
SEDG: IBD50 new #1, closed ITM naked puts from last week for 82% profit. It only has monthlies.
SPY: A bunch of 1×2 put spreads closed at the open for 70-80% profit. Added in a few Wed naked puts for #Pie assignment. 273-274 strikes for .71-1.09.
That’s about it for today
sue
Afternoon all Catching up with…
Afternoon all Catching up with positing. #Pietrades, #Leaps,
Bought to close my SQ 54 Put for 0.87. Originally sold for .95 on 5/10. Tried to sell a 53 Put at 0.55 but no dice. Try
again tomorrow. I felt the 54 Put was too high and I wanted a lower strike in case this pulls back more.
Created a covered call on ROKU in a back-ass-ward way. Meant to sell a MU call and had ROKU loaded (Hey they both end in U). So sold ROKU 37 Call @ .68 and followed this by underpinning (Is that the opposite of covering) with stock at 36.39.
Did get the MU May 18th 54.50 call sold for .50.
BTC my ERX May 18th 38 Put @ .30. Originally sold for .88 on 5/09. Will look to reload.
AAOI Sold to open May 18th 31.50 Put @ .50
#Leaps
Sold ERX May 42 Call for .45
Sold QQQ May 18th 172 Call @ .40.
BTC SVXY May 18th 13 Calls @ .46. No premium or clear way to manage this with weeklies.
And that’s all the damage for one day. Have a great evening.
TQQQ & SQ rolls
#LongLEAPs Closed $TQQQ June 1st 170 #SyntheticCoveredCall for 6.00. Sold in a #StrangleRoll on May 9th.
Sold $TQQQ June 8th 157.5/177.5 strangle for 6.30.
Closed $SQ June 8th 56 call for 1.60. Sold for 1.88 last Thursday. Will wait to roll on the next move up.
#shortcallspreads #rolling TSLA Closed May…
#shortcallspreads #rolling TSLA
Closed May 18, 300/315 rolled call spread, made $39. I had a couple chances over the last 2 weeks to close, held out for more, settled for less but salvaged a small gain as TSLA drops.
UVXY
#BearCallSpreads – Starting to run low on inventory…
Bought to Close UVXY JUN 15 2018 25.0/35.0 Bear Call Spreads @ .06 (sold for .81)
EDIT…just noticed only a partial fill on this lot.
TSLA
#BearPutSpreads #LEAPS …adding #BullCallSpreads now. Trading both sides with the great premium. Using 2020’s for the call side.
Bought TSLA JAN 17 2020 300.0/400.0 Bull Call Spreads @ 34.00 (2019’s were nearly 30.00 so went 2020)
87 weeks to go so need 39 cents per week or 97 cents to cover max loss with a year to go…if TSLA really tanks I’ll probably book the winner on the short 400s.
So:
Sold TSLA JUN 1 2018 312.5 Calls @ 4.70
Found a few for the…
Found a few for the weekly #pietrades that expire this Friday.
BTC IBB 104.5 puts for 0.25. Sold Friday for 1.15, thanks mr market
#spycraft SPY 25 DTE 265/262 put credit spread for 0.24. Waiting on call side until the manic buying stops.
STO AAL 42.5 puts 4 DTE for 0.53 credit. Cb 41.97 as long as @fuzzballl stays off the throttles, fly slow!
STO MAR 4 DTE 139 puts at 1.1 for cb 137.9 if assigned.
GM 38 CC 2 weeks rolled out 25 dte to 37.5 for 0.32 credit. Cost basis 37.72 and if it is above 37.5 they can have it. Just want the cash out so can trade other tickers.
STO MU 4 DTE 52.5 put for 0.86 cb 51.87 if assigned.
STO 4 DTE AMAT 55 put for 0.98. Cb 54.02 if assigned.
Usually not that active on a Monday but had a ton of expirations on Friday and since IBB gave me a gift was able to double down on MAR doubling my usual cash income 🙂
Now I sit on my hands until Thurs. or Friday.
TQQQ-bear trade.
BTC May 18, 150 puts and sold the June 29 puts for a net credit of 4.30 but these expire in January 2019. I have reduced the cost of the trade from 28.10 down to 19.38 so the premiums are great so far.
LB puts closed
#FallingKnife #ShortPuts BTC LB Jun 15 30 puts at .55, STO May 10 at 1.35. Taking 60% profit early. Thanks @optioniceman
ANET
BTC June 165 puts @ .05, sold at 2.45
ALL
BTO May 18 95/92.50 Puts .41 #Bitty
Another sell from Shadow Trader
#shortputs #fallingknife SYMC Friday was…
#shortputs #fallingknife SYMC
Friday was the day for selling puts in SYMC when it dropped about 10 on internal audit shenanigans, but today sold a June 15, 20 put for .58. This is a Tradewise covered call stock that has brought in $430 in premium and dividends since last August when it was initiated at 28 and change.
TSLA
Amazing it’s holding up this well. Saw over the weekend some top talent leaving and/or taking extended leaves….and this:
https://www.digitaltrends.com/news/tesla-model-s-crashes-into-fire-truck-in-utah-at-60-mph/?utm_source=sendgrid&utm_medium=email&utm_campaign=daily-brief
IWM
BTO IWM May 18 160/157 Puts .71 looking for a pull back per ShadowTrader
#Bitty
14m
ShadowTraderPro Swing Trader Advisory – IWM – Short the Stock
mytrade.com/profile/status…
Rolling….
#LongCalls #LEAPS – A lot of rolling this morning. Out to July for the ones deep in the money. Others not quite so far. Some small debits but no problem with all the premium received so far. On the bright side most of these are trading above the LEAP strike so most of these calls are similar to trailing stops giving some downside protection. On a big pullback these could easily be rolled back in and down.
CELG: May 18th 85.5 to May 25th 86.5 @ .13 credit (nearing end of life so will roll any time it’s near the money)
FAS: May 18th 64.5 to Jun 15th 66.0 @ even
FAS: May 18th 64.5 to Jul 20th 68.0 @ .02 credit
OLED: May18th 96.0 to Jun 8th 100.0 @ .15 debit
ROKU: May 18th 35.5 to Jun 1st 37.0 @ .06 credit (I’ll look to book it if it reaches zero deltas again)
SMH: May 18th 99.5 to Jul 20th 102.0 @ .13 debit
TNA: May 18th 71.0 to Jul 20th 75.0 @ .28 debit
TQQQ: May 18th 152.0 to Jun 15th 156.0 @ .16 debit
XBI: May 18th 88.0 to Jun 22nd 90.0 @ even
XLY: May 18th 103.5 to Jun 8th 104.5 @ .02 credit
FB: Playing the Jan 2019 calls and puts on this one. Stock has rallied and I’ve sold puts all the way up nearly covering the put LEAPS already. Of course the call side has been struggling. It was 160 long LEAPS against 162.5 short calls next week. I’d like to get the call side back in the game so I’m using my old strategy that worked when AMZN was going crazy to the upside.
Rolling the LEAP calls up for a credit and using that to roll the weekly calls up and out. Basically a wash but gets the short calls into a much more rollable position. Moved the LEAPS up 10 but only got the weeklies up 7.50 since I didn’t want to go out any further and wanted a credit.
Jan 2019 160.0 to Jan 2019 170.0 @ 7.17 credit
Then:
May 25th 162.5 to Jun 15th 170.0 @ 6.65 debit
SPX puts sold
#SPXcampaign Sold $SPX June 14th (monthlys) 2610/2585 put spreads for 1.65.
QQQ
$VIX
?? Vix up & Market up??
#shortputs #fallingknife CVS Bought June,…
#shortputs #fallingknife CVS
Bought June, 57 put for .20, sold the 8th for .94
A earnings
#Earnings I don’t remember ever trading $A before, so I took an extra-safe position.
Sold $A May 18th 65/75 #ShortStrangles for .77. Biggest UP move: 4.6%, Biggest DOWN move: -3.5%, Average move: 2.5%. My strikes are +/-7.1% OTM.
SPX
STC $SPX May 18th 2770/2790 bull call spreads for 1.60, bought for 0.80. Thanks @jeffcp66! I saw some green and decided to not roll the dice for Friday expiration. Maybe these will go to 10.00 now!!
MTCH
BTC June 15, 28 puts @ .05
Boca Traders Conference
Boca Traders Conference 30 June in Boca Raton, FL
Anyone coming to this, in my back yard.
bocatradersconference.com
Econ Calendar for week of 5/14/18
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated.
Monday #pietrades and a #supercharger…
Monday #pietrades and a #supercharger and a credit spread
Premium dried up but could still find a few trades that would make at least 1% in a week, 10% in a month or more.
1. 4 DTE MU 51 CC for 50.10 based on friday prices, that will change some at the open but it will be around there. That is my disclaimer for all of these, based on Friday prices.
2. MAR 132/129 put credit spread for 0.37 or so for 6.8.18 expiration
3. AAL 42 put for 4 DTE for 0.45 and puts and calls are at parity. Maybe @fuzzballl can save a few gallons of fuel and the price will go back up.
4. SMH 25 DTE #supercharger 90/95 call spread for 4.5
Question for @fuzzballl on #fuzzies. What delta do you usually start with on the LEAPs on the long term fuzzies? You going deep or more like a calendar? I find easier to adjust as a calendar but obviously a deep ITM LEAP is going to behave more like a CC.
I saw an interesting movie…
I saw an interesting movie Saturday. “The China Hustle” It was released in March and it is quite current. It covers the methods, the madness, the shysters and shorting as well as the methods used to IPO Chinese firms.
Leaps
I wish there were weekly options on the SOXL. I may take another look at the XBI but liquidity is also important.
LEAPS and weekly sales…a closer look
I’ve gone through all of my current 2020 LEAPS positions and added another little detail to how I track them. This additional detail will assist me in selling the weekly calls…especially when the stock is trading well below the LEAP and whipsaw risk is at it’s greatest.
I’ve always tracked and updated how much weekly premium I need to average to cover max loss over the duration of the position. Selling that much every week isn’t going to make any profit though. I’ve added another number to my tracking that tells me how much premium I need to average to have max loss covered by Jan 2019. By watching that number, I would be able to have the LEAP cost covered and still have 12 more months to sell. Surprisingly, that number really isn’t that much more which further shows that going out as far in time as possible for these is the way to go.
The profit potential in these is pretty eye opening. These last 2 to 3 weeks of selling have been far and away the most I’ve ever brought in on weekly sales. Once the LEAPS are paid for these sales would be all profit. The May 4th expiration was my all time high bringing in over 15k of realized gains. Not all of that was weekly sales against the LEAPS but a big chunk of it was. Keeping a long term outlook and just gradually plugging away week after week is the key. Duration over direction for these. I’m almost to the point now where I really don’t care where the market goes as long as the VIX stays up where premium stays somewhat elevated. Crazy thing is that these aren’t huge oversized positions. I stay within strict limits on my position sizes but these really add up with 8 or 10 underlyings each brininging in a little every week or two.
Here are all my current 2020’s with updated weekly sales required for both scenarios. My 2019 positions are similar numbers too. If I’m happy with the underlying stock as soon as the 2019’s are completely covered I’ll be looking to add more 2020’s and when the 2020’s are covered I’ll be waiting on the 2021’s to show up and start working to cover them.
=============================================
First number is required weekly sales to cover max loss by Jan 2020. Second number is to cover max loss by Jan 2019 which leaves another year to sell.
EWW .09/.21
FAS .16/.31
GLD .16/.42
NOC .42/1.05
NVDA .56/1.38
REGN .73/1.95
ROKU .12/.30
SMH .14/.35
TNA .18/.44
#Fuzzy Would like to get…
#Fuzzy
Would like to get a few ideas for #FuzzyRepairs How do you handle them when under water. Still have a couple from Mid Feb reversal that I am adjusting but most are at a bigger loss than I would like.
Almost but not
#VIXIndicator Official close for the VIX (and LOD) was 12.65… .04 shy of canceling the warning. Not an exact science, so things looking strong for next week.
Expirations
#optionsexpiration
$FB 130/140 BUPS
$SPX 2475/2500 BUPS Thank you @jeffcp66
Happy Mother’s Day to all the Mom’s out there.
Have a restful loving weekend.
Afternoon all. Popping in here…
Afternoon all. Popping in here after the close. We just might get a functional bathroom today as the remodeling nears the end. Can you say relief! Its not that bad as we have a second but it has been disruptive.
Have a great weekend all. Summer has blasted into NC with a 90F day. Oh joy.
#OptionExpiration May 11th
Expired
MU 53 Call
NUGT 26 Put
FAS 63 Put
Assigned
FAS 66 Call
SQ 51 Call
AAPL
BTO Jun 8 187.5/185.00 Puts 1.03 #LongPutSpread
Looking for a pull back to exit
Have a great weekend y’all
Happy Mother’s Day
AMZN
STO May 18 1565/1562.50 BuPS .34 #Bitty
Chipping away at SVXY
I have a ton of this, as many of us do. I abandoned the covered call strategy when Proshares cut its wings off and brought it down to -.5 from -1.0. Since then I’ve been selling UVXY calls (well mostly call spreads) and buying VXX put spreads to apply against all these positions. My first lot is coming off today as the basis for these was brought down to 11.74. Sold some SVXY @ 13.2438.
I have a long long long way to go but I want to get maybe 20-30% of these shares off the books before the end of the year. We’ll see.
SYMC
There’s a #FallingKnife …
VIX plunging
VIX plunging
Rolling
#SyntheticStock – Walking some short calls up that got run over this week:
Roll SLB May11’18 70 calls to SLB May18’18 70.5 calls for 0.05 credit.
Roll MU May11’18 50 calls to MU May25’18 52 calls for 0.20 credit.
Roll JPM May11’18 110 calls to May 25’18 111 calls for 0.41 debit. Giving up some of the premium I’ve collected on this one.
Strategies on Bistro
Hello all… I just updated the “Hashtag Strategies” Menu item (top-center of this page). I’d like your feedback on anything that should be added. I’m working on one sheet explanations of each strategy, so members will have an overview explanation and not just a link to old posts.
Let me know what you think!
SPX puts sold
#SPXcampaign Sold $SPX June 8th 2600/2575 puts sold for 1.60.
#OptionsExpiration Here’s an early expiration…
#OptionsExpiration
Here’s an early expiration report. I’ve been thinking about @hcgdavis Chris’s #PieTrades ever since his first post. I never really got serious about them, despite being intrigued. I finally decided in the last few weeks that I absolutely needed to build a portfolio strategy and not just a trading strategy. What better way than his? Of course I probably don’t follow the rules straight down the line, but here’s a report for some Pie-like trades this week:
1. AMZN: On Wednesday when the stock was at 1600, I purchased 100 shares and sold ATM calls for $11.35. Assuming AMZN closes above 1600 today shares will be called away for total profit of $1071 in 3 days. I will sell an ATM put for next Friday at the close today. AMZN is inching down and might be shooting for a 1600 pin….it would be fun if the shares aren’t called and I can roll calls into next week.
2. CVX: Nice dividend next week, so I sold ITM puts last night for assignment. I sold $129 strike for .76, closed them this morning for 87% profit. With next week being div week, I will sell puts before Ex-Div to be virtually paid the dividend immediately.
3. IBM: I did the same div play mentioned above for CVX this week for IBM, sold the put priced with added div premium, could have taken 100% profit, but closed it yesterday for 80% profit. I already have 100 shares with calls sold for next week. The income stream on IBM from #Pie has completely covered the post-earnings decline in underlying.
4. NFLX: This will be my first assignment in a long time. Earlier this week I sold 1 $330 put for $3.10. It’s dancing in and out of profit today, but I’d like to take the shares and sell a juicy call for next week.
5. NVDA: I sold ITM puts at the open this morning and later covered them for 83% profit. I sold 257.5pfor next week @ 4.34.
6. SPY: I sold ITM (272) puts last night for either a scalp or assignment today. They were covered at 50% profit.
7. CRM: I sold ITM puts yesterday ($131) for assignment, I will seek 70% profit on those today or assignment.
8. MA: I sold several puts on MA this week and took 70% profit, but I’ve got 190 (@.94) and 192.5 (@1.60) lined up for next Friday.
9. I’ve got 1×2 spreads on for next week on BABA and LMT. In a choppier market I like the idea of 1×2’s for a wider downside range. But in an uptrend, straight naked puts are better for higher premium collection.
It’s just in my blood to cover these puts at a 70%+ profit level vs. taking the shares, even when I know it may be more lucrative to get the shares and sell the call side. I’m progressing! BTW I’ve started using IBD scores to find my #Pie candidates. Of all the stocks listed above probably IBM, CVX, LMT are the weakest in regards to IBD scoring.
QQQ
FB
BTC June 140 puts @ .05, sold at 2.00 and that is the last of the puts that I sold on the spike down.
Everything looks overcooked at the…
Everything looks overcooked at the moment except the biotechs and some of the chips. You guys were busy yesterday, I was at the beach. Last week we need wetsuits, water warming up quickly!
#pietrades, #optionsexpiration, and assigned early
Expiring today or assigned early:
TNA 69 cc cost basis 64.87 and was assigned early so get to redeploy that capital early-thanks mr market
FAS 61 CC at 56.36 cb
FAS 61 CC at 59.31 cb and will reload this account Monday
FAS 61 cc at 53.91 cb and will reload something on Monday
FAS 63 CC at 60.53 cb and 100 shares at 63.14 so a minor loss but overall this account was profitable and will reload on Monday.
XME 35 CC at cb of 34.44 and will reload Monday. This is a tiny account now from the SVXY losses.
#pietrade rolls:
AMAT 49 put rolled up to 52.5 put for 0.53 credit. Total credit now 1.7 and if assigned cost basis 50.8
#pietrade new position starter
IBB 104.5 put at 1.15 credit so 103.35 cb if assigned and would take it there
malingerers
GM 38 CC at cost basis of 38.04 expires in 14 days. I will gladly get rid of it at a 0.04 loss just so I can use the $ somewhere else. This is week 17 of this trade, just stuck and this one sucks for #pietrades, it is off the list until the premiums double. Anyone else trading this one with me it is getting taken out of the rotation.
Additional trading thoughts now that I finally have all the SVXY cleared out from the Feb 6 losses and can finally use all 6 trading accounts again.
1. Capital preservation is key. Now that I have had 3 account blowing out losses, at age 45 and 47 realize I cannot afford to lose my capital base again, it is the only way I can replace my income.
2. Keeping segregated accounts that trade different tickers is ideal. This time SVXY only took out 2 accounts and small portions of 2 others. Had I not been diversified it would have been ugly and I would be working 7 days a week in the office and urgent care or ER just to try to make some back. Spread out the trading vehicles and even accounts, may save your bacon someday.
3. Trading for income is a great way to trade. Trading for extreme income and weekly is even better. Most of my losing trades can be converted to winners or break even by always bring in cash. Cash up front is easier to manage than trying to convert a losing directional trade.
4. #pietrades will make up the majority of my trades with some #supercharger s thrown in for the small accounts
5. Even with income trading you can target 50-100% annualized returns if you do it right. Guess we can call it extreme income trading!
6. Trading with the group has really helped my consistency. Thanks Bistro’ers 🙂 🙂
Hope everyone has a good expiration and Happy Mother’s Day!
Will have some trades ready for Monday morning.
One last announcement, we are still working out the details but I have had such good results with the #pietrades that I have been asked to become a contributor to the Options Income Blueprint service. Will keep you posted. It is mostly as a live and ongoing case study. I will not actually be sending out the recommendations, just how I am managing them live.
XOM
Finally STC #Fuzzy put on 2-16 then down turn hit and been adjusting ever since, out today for a very small profit. Was under water from get go and today got me even.
NOC
#LongCalls #LEAPS -Since it’s in an #IRA I’m paying the dime to get the next sale going. Getting the weekend and stock looks a little weak since Rocket Man is now a fine upstanding citizen.
Bought to Close NOC MAY 11 2018 330.0 Calls @ .10 (sold for 2.70)
Sold NOC MAY 18 2018 330.0 Calls @ 2.30
SPX
Trying something from Theo Video
BTO SPX May 18 2765/2770 Calls .80 & May 18 2695/2690 Puts .85
Both at Expected move for next week.
Does anyone know symbol for…
Does anyone know symbol for SP-500 in TradeStation?
ADSK
#ShortStrangles #LongCalls #LEAPS – Rolling out to earnings week. This is a small position so after earnings if it keeps going up I may try the old method I used with my AMZN position. I’ll be rolling the core (in this case the LEAPS) up to finance the weekly call roll. Worked for AMZN synthetic and I think it can be even more effective with just plain old long calls since there’s no downside short puts to be concerned with…
Rolled ADSK MAY 11 2018 128.0 Calls to MAY 25 2018 131.0 Calls @ .06 debit
AAOI
#TiredofIt – Still rolling and selling this one. Won’t bore everyone with the details. Will have it out to end of year and then see where it stands.
UPS
TSLA
#BearPutSpreads #LEAPS – Still selling against 300/200 Bear Put Spreads. Sold aggressively through earnings and continuing that until it decides where it wants to go. Finally out of these after accumulating premium through a few rolls…
Bought to Close TSLA MAY 11 2018 295.0 Puts @ .10 (sold for 13.15)
Sold TSLA MAY 18 2018 297.5 Puts @ 4.00
REGN
#SyntheticStock – I guess the Donald isn’t going to punish drug companies as much as everyone was thinking. Unfortunately I might be fighting the recovery in this one. Rolling weekly calls up and out for now similar to a trailing stop. Great premium all the way down at least!
Rolled REGN MAY 11 2018 290.0 Calls to JUN 15 2018 300.0 Calls @ .40 credit
NVDA
#LongCalls #LEAPS – I hate doing it up at these levels but the premium is great. Staying small here and going slightly out of the money. Might book it on a bounce if we get one. Otherwise….sell weeklies aggressively.
Bought NVDA JAN 17 2020 260.0 Calls @ 51.90
88 weeks to run so need 59 cents per week to cover cost…
So:
Sold NVDA MAY 18 2018 260.0 Calls @ 3.57
SPX calls stopped
#SPXcampaign Stopped $SPX June 1st 2775/2800 for 4.50. Sold in a #CondorRoll for 4.90 on Wednesday.
Other than the June 8th calls I sold this morning, all my previous call spreads have hit their stop levels and are closed. I have reverse-rolled some, but need to do more. I’d prefer the VIX to be lower before going to heavy to the long side.
Options Bistro 