#Earnings #EarningsRunUp
Bought to open $LMT July 20th 310 calls for 1.00. I will assess the trade’s performance next Friday, 7 dte.
Recent Updates Page 323
#shortputs #pietrades MU Sold July…
Sold July 13, 50 put for .62, MU at 52
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Gonna have to roll the DITM puts as best I can but at least the call side is back in play. I’ll be using the ratio method for the call side since there’s plenty of premium available. Puts have about $15 dollars of premium in them so far so their basis is around 342 against long 2020 300 LEAP puts.
Rolled TSLA JUL 6 2018 360.0 Puts to JUL 27 2018 357.5 Puts @ .19 credit
Sneaking in a double dip on the call side this week….
Rolled TSLA JUL 6 2018 320.0 Calls to JUL 6 2018 312.5 Calls @ 1.81 credit (6.81 total now)
XLY rolled short call
BTC XLY Jul6 109.5 @ .20, Sold @ .91
STO XLY Jul13 109.5 @ .71
Pre-earnings second layer
With pre-earnings, I recommend to use small position size and add layers on pullbacks. I’m adding to LMT and INFY today on the pullback. This is my own refinement of the CMLViz strategy. CML goes all in on the first trade. At 7 days before earnings, they use a 40% profit/loss stop.
Bot LMT Jul20 310c @ 1.30
Bot INFY Jul20 20c @ .29
#earningsrunup
IWM PYPL TQQQ rolling short calls
Rolled IWM Jul6 165c to Jul13 166.5c @ .90 credit
Rolled PYPL Jul6 83c to Jul 13 84.5c @ .97 credit
Rolled TQQQ Jul 58.5c to Jul13 58.5c @ 2.41 credit
#unbalanceddiagonal
#shortcalls
MamaCash
LMT pre-earnings. What is your limit for closing 20 JUL 2018 LMT call? BOT at $1.90, Currently at 1.20
#pietrade WDC 78 put expiring…
WDC 78 put expiring tomorrow rolled down to 77 next week for 0.18 credit.
Hopefully the tariff rhetoric and tweets settle down, costing me $.
Adding to PYPL
#LongCalls #LEAPs This is not the typical high-delta LEAP play… I first bought some of these calls back in November, and adding today at a slightly lower price.
Bought $PYPL Jan 2019 100 calls for 2.20.
Selling short term calls against it.
NEWS
This just in: German Chancellor Angela Merkel said on Thursday she would back a lowering of EU tariffs on U.S. car imports, responding to an offer from Washington to abandon threats to impose levies on European cars in return for concessions (Reuters). This is market bullish news.
Good Morning
Good Morning
DIA and SSO
BTC DIA Jul13 245c @ .20. Sold @ 1.61
STO DIA Jul13 242.5c @ 1.97
BTC SSO Jul6 113c @ .20. Sold @ 1.18
STO SSO Jul13 111.5c @ 1.46
Core long positions lost the ground they gained yesterday but nice to collect and keep some premium.
#shortcalls
#unbalanceddiagonal
#coveredcallcampaign LUV Tradewise recommendation last…
#coveredcallcampaign LUV
Tradewise recommendation last month, today I bought August 17, 52.50 #coveredcall for 49.83, 51.69 and 1.86
MU short calls
BTC Jul6 53.5c @ .20. Sold @ 1.24
STO Jul13 51.5c @ 1.40
Things are getting sloggy going into the close.
#shortcalls
#unbalanceddiagonal
KMB
BTC July 20, 90 puts @.05 covering over 2 week early. Because I am doing leaps and selling short calls, I am letting a lot of these put just run off.
#ShortPut #PIETrade Sold 1 July…
#fallingknife maybe TSLA 40 point…
#fallingknife maybe TSLA
40 point drop in the last 2 days (making me happy-for now)
LMT pre-earnings
Bot Jul20 310c @ 1.94.
GTC order to sell at 80% profit or will sell the day before the earnings report whichever comes first.
LMT has had a rough patch the last couple months so it may be riskier than usual to take a pre-earnings momentum trade. However, it has the best CML study results of all the pre-ER trades I’m following. Excellent returns on entering trades 14 days, 7 days, or 3 days (any day for that matter) before the report. All study results are based on exiting the trade before the report. There is no earnings risk on these trades.
DIA short calls
Rolled DIA Jul6 242c to Jul13 245c for .76 debit. Short call had no more extrinsic value and this gives me another $3 of breathing room for next week.
FAS
I rolled my July 13, 67 call to July 20 68 call for a credit of .14 cents
AMBA LABU
#LongCalls #LEAPS – A couple minor adjustments. Have to say the whole ratio thing is working great. No upside risk at all even when the short calls get a little underwater.
AMBA:
Rolling down and in to get out of these sooner allowing an extra week of sales.
Rolled AMBA JUL 20 2018 43.5 Calls down and in to JUL 13 2018 41.0 Calls @ .02 credit
LABU:
Rolled LABU JUL 6 2018 88.0 Call to JUL 20 2018 90.0 Call @ .11 credit
#coveredcallsSold ROKU July 13th 47…
#coveredcallsSold ROKU July 13th 47 calls @ 1.00 when stock was at 45.33
#coveredcalls Sold MU July 13th…
#coveredcalls
Sold MU July 13th 56 call @ .70 when MU was at 54.13
#Shortput TQQQ Sold July 06th…
#Shortput
TQQQ Sold July 06th 56 Put @ .45. The 50dma is at the 56. TQQQ was at 58.22
NFLX pre-earnings
Yesterday, I bought two NFLX calls to play the runup into earnings. The 20 delta call sold at target this morning.
STC NFLX Jul20 440c @ 7.40. Bot @ 5.30.
LABU
Rolled my July 6, 97 calls out to July 13, 98 calls for a credit of 1.51
First #pietrade 24 EXPE 24…
First #pietrade 24
EXPE 24 DTE 115 put sold for 1.90. This is heading into earnings but will probably roll or close before then.
#pietrades These work great but…
These work great but always looking for ways to improve on tactics. Improve returns, success rate, less adjusting because adjusting costs money or delays profit taking. I am not greedy, just trying to figure out what works the best with the least amount of work or adjustments.
So I have been experimenting with this on a limited basis. Instead of starting #pietrades with only 4-8 DTE, go out about 3 weeks. Split the distance between tasty trades recommended 45 DTE and the 1 week for classic PIE trading This does 4 things. Gets you farther OTM, collects higher premiums, but stays on the steepest part of the decay curve, and allows quicker recycling of capital. Also most will be rolled or closed before full expiration. My limited experimenting with them shows most are closed or rolled within 2 weeks of opening.
I don’t think we need a new hashtag, they are still in the PIE realm. Maybe just add a 21 to it if you post it, so 21 #pietrade or #pietrade 21 or however many days until expiration.
So I am looking at 3 possible this morning. EXPE, VLO, AXP. Will post once I see where market opens. Also on vacation week of 7/14-21, be out in @smasty160 country so a perfect time to start a few of these as I will not be trading that week.
As the time value erodes, would then roll each week in same name if you still like the ticker or move to new positions as the market oscillates.
Will keep posted on how they work real time and on a larger scale.
#spycampaign Well the plan to…
Well the plan to hold out for expiration with 100% premium turned out to be a big loser. Sold at $2 buy back at $6.50. And I was ahead $1 during the day. I’m gradually learning to sell out before the last 30 minutes, or maybe buy!
#Coveredcall TWTR Sold July 6th…
#Coveredcall TWTR Sold July 6th 45.50 Call at 0.45 going into the close. Stock assigned at 45 on Friday.
#ironcondor DE #coveredcallcampaign PBR Idea…
#ironcondor DE #coveredcallcampaign PBR
Idea from TT August 17, 125/130/150/155 for 2.07, DE is at 141, earnings Aug. 17
PBR Closed July 20, 10 covered call for 9.57, bought June 8 for 8.90
ASML Pre-Earnings
BTO ASML Jul20 200c @ 3.80. Will sell @ 50% profit or day before earnings report on 7/18.
#earningsrunup
JPM Pre-Earnings
BTO JPM Jul20 106c @ 1.50. Will close @ 50% profit or day before earnings report on 7/13
#earningsrunup
ROKU With the strength in…
ROKU With the strength in the stock and the tag of my short 43 calls I bought them back for a .50 loss. I will cover them up later.
#spycampaign BTC Jul 02 option…
BTC Jul 02 option spread
2695/2685 puts for 0.20, sold this morning for $1
still watching 2720/2730 call for 100% capture of premium: $2, 0.70
Closing Oct CLX
Taking profits on a couple of #FallingKnife trades, about 3 1/2 months early.
Bought to close:
$CLX Oct 19 105 puts @ .45. Sold for 1.50 on 3/21.
$CLX Oct 19 100 puts @ .26. Sold for 1.35 on 4/19.
AAPL covered calls
#CoveredCallCampaign Sold $AAPL July 27th 192.5 #CoveredCalls for 1.55.
SPX calls closed, calls sold
#SPXcampaign Closed on GTC order: $SPX July 19th 2835/2860 call spreads for .25. Sold for 1.90 on June 22nd.
Sold $SPX July 13th 2765/2790 call spreads for 3.65.
I remain short-term bearish as tariffs start kicking in this week, and VIX above 14.00. However, as always, I’m ready if I’m wrong. Also only playing short-term spreads to avoid complications when my Japan trip starts.
XBI #fuzzy The 95 short…
XBI #fuzzy
The 95 short strike was already breached so rolled this week 95 out to 11 DTE 95.5 for 0.32 credit. Total risk now down to 10.31. Goal is to have a zero cost basis trade in 10-20 weeks or if the short calls keep going ITM close it for profit and reset at higher strikes.
NFLX call spreads closed
#SuperCharger Thanks to Iceman, this spread saved me from a loss on my first Supercharger… brings me a slight profit overall.
BTC $NFLX July 13th 450/500 call spreads for .20. Sold for 1.90 last week.
Closing AAPL put spread
Bought to close $AAPL Jul 27 175/170 BuPS @ .37. Sold for .95 on 6/25.
GOOGL
BTO Jul 13 1110/1112.50 Call spread 1.64 #supercharger #Bitty
#pietrades Some days better to…
Some days better to be lucky than good. Did not have time to sell CC on MU at the open. Up 1.3 now so a better time now.
STO 11 DTE MU 55 call for 0.94. Cost basis now 57.5.
Also working some orders on FAS and TQQQ for cc but will have to post later. Too busy at work.
NFLX Pre-Earnings trades
BTO NFLX Jul20 420c @ 10.04. GTC order to close @ 20.00
BTO NFLX Jul20 440c @ 5.30. GTC order @ 7.40
Confirmed earnings report 7/16. This trade is based on a historical momentum pattern going into earnings. 100% win rate for the last four quarters.
#earningsrunup
FAS
#LongCalls #LEAPS – Small position over at Tastyworks…
Bought to Close FAS JUL 6 2018 68.5 Calls @ .05 (sold for 1.06)
Sold FAS JUL 20 2018 64.0 Calls @ 1.90
#shortputs #pietrades DVN Sold July…
#shortputs #pietrades DVN
Sold July 6, 43 put for .46, stock is at 43.51, energy company
#shortputs FYI LVS is down…
FYI
LVS is down 7%
XLY short call roll
BTC XLY Jul6 110.5 @ .10. Bot at .64.
STO XLY Jul13 109.5c @ .75 to replace. Let the good times roll.
#shortcalls
MU covered calls
#PieTrades Sold $MU July 13th 54 #CoveredCalls for 1.28. Assigned Friday at 55.00. With this sale, cost basis 52.02 in some accounts, and 56.44 in another.
#spycampaign Early this morning STO…
Early this morning STO BeCS July 02 2720/2730 @$2.00 plan to hold till expiration
STO BuPS 2685/2675 Jul 02 @$1.60, closed for 0.75
STO BuPS 2695/2685 Jul 02 @$1.00 – too early but now slightly positive watching
STO BeCS Jul 02 2720/2730 @$0.70 hoping to hold till expiration
#CoveredCalls Sold a calls this…
#CoveredCalls Sold a calls this morning all for July 6th expiry covering stock assigned Friday. Since the text system in ToS isn’t working for me I don’t know the price of the stock at the fill.
FAS 64 calls @ 0.70. Assigned @ 67
TWTR 45.5 Call @ 0.40 Assigned @ 44 Alert @ 45
ROKU 43 Calls @ 0.45. Assigned @ 46. Alert to roll at 43.
DBX 34 Calls @ 0.40. Assigned @ 33.50. Alert to roll at 34.
Remaining
MU. Assigned at 59.5. Waiting to cover as it claws its way back up.
TWTR Assigned at 45. Wasn’t filled
#OT ToS text alerts are…
#OT ToS text alerts are not working for me. Looking into it.
AMZN
STO Jul 6 1665.0/1662.5 BuPS .50 #Bitty Added to position
#shortputs #coveredputs FB Sold July…
Sold July 20, 185 put for 1.48, basis up to 185.79 of short FB position.
NFLX
STO Jul 6 372.5/370.00 BuPS .39 #bitty
FAS
Rolled July 6 71.5 calls down to July 13, 67 calls for a credit of .30 cents.
TSLA
#LongLEAPStraddles – A small delta adjustment on the put side…
Rolled TSLA JUL 6 2018 340.0 Put up to JUL 6 2018 360.0 Put @ 7.09 credit (18.64 total now)
SPX calls closed
#SPXcampaign Closed on GTC order: $SPX July 6th 2775/2800 call spreads for .25. Sold last week for 3.00.
Econ Calendar for week of 7/2/18
Jobs Report is this Friday 8:30am ET
Be sure to periodically click Home/REFRESH to keep Bistro features updated.
TastyTrade
https://www.benzinga.com/news/18/06/11958063/tastytrade-raises-20m-in-new-funding-wants-to-help-change-the-world-of-investing
TSLA
This should be a wild week….I’m long 2020 LEAPS puts and calls against Jul 6th short puts and calls.
https://www.cnbc.com/2018/06/29/tesla-q2-production-and-delivery-numbers.html
@jeffcp66 Hi Jeff, do you…
Hi Jeff,
do you know if there is any particular reason why some replies are getting marked as “awaiting approval”?
Is there a way to avoid it?
#OptionExpiration June 29th Taking Put…
#OptionExpiration June 29th
Taking Put assignments this week
DBX @ 33.50
FAS @ 67
MU @ 59.50
ROKU @ 46
TWTR @ 44 and 45
One Call expired
NUGT @ 26
Selling calls come Monday.
Have a great weekend.
#pietrades Looks like I am…
Looks like I am being assigned or assigned early on TQQQ, FAS, MU, and will sell calls on Monday. This morning’s bounce looked like it would make these a lot easier. We have comcast at work and entire east coast internet was out which made work hard with an EHR. Looks like the bounce fizzled later afternoon.
Anyway, for those with big accounts, you can take #pietrade one step further. If I had bigger accounts I would do this. The decay is great on weeklies, but weeks like this they all tend to get run over at the same time. I personally would run 3 different names in each account and since I have 5-6 accounts that would give good diversification. My ultimate goal is to sell #pietrade ladders. Start the process 21 DTE. Each week add a new trade in the same 3 names. But for example using XBI. The 7 day ATM put is going for 0.77-.99 (95-96 strike) so can’t even get a buck. But if you go out 21 DTE you can sell the 92 put for 1.03-1.10. Three more dollars OTM so less likely to be breached and if you are breached probably at a better place to take assignment because it is a much bigger pull back. The only draw back is you are in the trade 2 more weeks and tying up capital.
But if your goal is income and you have a large enough account, it would be highly effective. I have tried it on small scale and whenever I was assigned they ended up wining in 1-2 weeks because it was usually at the end of a pull back. I could only run 3 contracts on 1 name or 1-2 contracts on 3 names. So it was not bringing in my income goal but when the accounts are larger this will be my main trading tactic.
Ultimate goal is 10 contracts on 3 names in each account for 3 weeks rolling. If you can get $1.00 or better that would be $3000 a week x however many accounts you have. Nice paycheck either way 🙂 To do that probably need a 300k account if using margin or twice that in a non margin account. You would also need names around $100.
Have a great weekend, update which calls I sell on Monday. If looks like more of a rebound I may leave them uncovered for a few days.
Expiration Taking Assignment of ROKU
#assignment
$ROKU 6/29 46 put assigned. Basis 43.90 Today’s close 42.60
Have a great weekend.
#spx I guess the sellers…
#spx
I guess the sellers are stronger than the buyers at this time.
Financials did not perform even with the Fed approval and stress test.
Canada imposed new tariffs.
Is that driving the market?
Stall
#Markets… looks like major indices will be closing lower than the open….
MU calls, STZ puts closed
#Earnings #PieTrades
Closed $STZ June 29th 220 puts for .65, .45, .20, and one left. Scaling out of my naked puts over the day. I also have some spreads, but I think we will close above 220. Watching closely to avoid assignment.
BTC $MU June 29th 52.5 covered Call for .15 to avoid assignment. Sold for .80 on Wednesday. Trying to sell a call for next week.
#shortputs ORCL DVN DVN June…
#shortputs ORCL DVN
DVN June 12, sold July 13, 40 put for .88, bought today for .22
ORCL June 20, sold #falling knife July 20, 42.50 put for .65 after earnings drop, bought today for .22
SPX Trades
STO aug 3 2525/2625 Credit Spread (BUPS) 7.20 CR when ES was coming off its lows..
BTC Jul 25th short 2625, @ 10.60, prev sold at 14.20..Took a 25% gain as ES Touched the R2 Pivot at its HOD
Resold the Same Short Put for 10.40, to collect another 20-30% profit as SPX moves higher after the gap open and bounce at the 100ma…
TQQQ
In my IRA, rolled the July 20, 57.67 calls to August 3, 58.50 calls for a credit of .10 cents.
This is against my 2020 calls at the 55 strike.
ROKU #Shortputs #PIETrade BTC June…
ROKU #Shortputs #PIETrade BTC June 29th 41 Put @ .05. I will sell a July Put later today unless I get distracted with nonsense.
CELG saga continues…
#LongCalls #CondorRoll – Of course I was a day early on my CELG sale for next week…LOL. Stock has started out strong today and looks to finally be heading back up (for now). I’ve been lucky so far selling just above this base but figured it would pop out eventually. For safety, I’m rolling the short call spread out a couple weeks to a skewed narrower iron condor. Playing it slightly bullish. I’m now in the expiration month of my long calls so we’ll wait and see where this ends.
To mange it I can roll the untested side (short only probably) for extra premium.
Bought to Close CELG JUL 6 2018 79.5/84.0 Bear Call Spreads @ .94
Sold CELG JUL 20 2018 74.0/77.0/83.0/86.0 Iron Condors @ 1.03
Originally sold the BeCS @ .37 so with the roll credit the condor is worth .46
OLED covered calls
I was assigned stock last week from short 100 puts. With good premium at that strike I decided to sell calls in August.
Sold $OLED Aug 17 100 calls @ 2.45. With the put premium it would be a profit of 4.19 if I get taken out at 100 in August. I’ll gladly take that considering how much this stock has dropped over the last couple of weeks. Delta is 25 so the chances are pretty good that I’ll continue holding it though.
SPX calls sold
#SPXcampaign Selling this under my normal strategy as it is set to expire at the start of my trip. Depending on the number of positions I have, I plan to sell some spreads through the vacation, keeping it manageable.
Sold $SPX July 27th 2825/2850 call spreads for 1.85
