#SPXcampaign Closed $SPX Apr 20th 2700/2725 call spreads for 7.05. Sold on Tuesday for 7.50.
For the first time in awhile the VIX is showing actual weakness in the last hour. Need to see what tomorrow brings.
Recent Updates Page 330
Fuzzy trades
I put on a Fuzzy trade on MSFT and just closed it today for no gain or loss. The problem with this trade even though I bought the 2020 Fuzzy is that MSFT has no volatility. Since there was no Vol. I could not sell the near by weekly calls for much premium. We need good volatility for these trades to work. Lesson learned.
UVXY trades
#VXXGame Took some $UVXY profits and also added some more hedges.
BTC Apr 20th 25 call for .20. Sold for 1.47 on Apr 2nd.
BTC May 18th 25 call for 1.04. Sold for 3.175 (avg price) in March. Leaving one open.
BTC June 15th 40 call for .66. Sold for 2.75 on Feb 2nd.
BTO May 18th 44 calls for .20. Highest strike. My April 59 long calls rolling off next Friday so shifting to May and June.
MU
Closing ROKU
Bought to close $ROKU Apr 20 30 puts @ .30. Sold for 1.35 on 2/22.
Testing… testing…
Turn around?
I’m being cautious with short positions… yesterday was pretty weak in SPX but VIX didn’t budge much and in fact had a lower high, low, and close. And today we are opening strong with VIX further down. Earnings season is starting, and the general bullishness about 1st quarter results may be what breaks us free of this volatility.
Good Morning
Good Morning
QQQ #Longcalls #Leaps #Shortcalls I…
QQQ #Longcalls #Leaps #Shortcalls I decided to follow along in the TQQQ trade but with a little less intensity as I gain experience with this. Bought Jan 17th 2020 161 Call at 19.50 with Qs at 161.33 My price discovery was a bit too aggressive and was filled immediately even though I was below the mark. Sold the April 13th 162 Call @ 1.02 with Qs at 161.20.
REGN
#SyntheticStock – Another week…killing time waiting for the real bounce. Earnings on May 3rd….
Bought to Close REGN APR 13 2018 340.0 Calls @ .30 (sold for 2.85)
Sold REGN APR 20 2018 337.5 Calls @ 2.20
VXX gamin’
#VXXGame
BTC $UVXY April 20th 26 calls for .25. Sold for 1.45 on April 2nd.
BTO $UVXY May 18th 40 call for .30. Adding to my position, which is cheap long calls to hedge the sale of higher-premium, lower-strike calls.
/CL
For those that are interested, and there are now multiple expiration cycles on the options. No weeklies yet but I my hands, er account dirty again.
Back on NUGT
Sold $NUGT Jan 17 2020 55 call @ 5.60. Highest strike in Jan 2020. 1 contract. Will add as/if premium increases or higher strikes become available.
TQQQ
#LongCalls #LEAPS #BullCallSpreads – Thanks @jsd501 for the nice reminder on this ticker. Great premium for setting up a longer term position. As an experiment, I’m buying the Jan 2020 call spreads 100 points wide. TOS is showing an expected move of +/- of 100 points out to 2020. This reduced my entry cost (but caps long term profits).
Bought to Open TQQQ JAN 17 2020 150.0/250.0 Bull Call Spreads @ 28.30
92 weeks for the trade to run so only need 31 cents per week to cover the cost. Goal is to get it covered much sooner and keep selling against the position.
So:
Sold TQQQ APR 20 2018 155.0 Calls @ 3.30
TQQQ
BTO 2020 150 calls at 42.42 and STO April 27, 160 calls @ 2.90
I need .46 cents a week to break even.
Trades this week
#ContangoETFs #CoveredCalls #CoveredCallCampaign #VXXGame #Earnings
Here are a few trades other than SPX:
Today: BTC $DUST Jun 15th 40 call for .25. Sold for 3.05 on Dec 4th.
Yesterday: BTC $FB Apr 20th 160 put for 3.00. Sold for 1.37 on March 19th. Backed out to early, not anticipating the rally the Zuck’s testimony would create.
Friday: BTC $FDX Apr 20th 235 puts for 6.77. Sold for 6.75 on 3/23 as when #Rolling from an earnings trade. I had margin pressure on Friday. Scaling back in since then:
Sold May 4th 235 put for 6.05;
Sold May 4th 237.5 put for 5.55.
This one seems like a buy… it’s just waiting for market to relax.
Friday: Closed $BABA Apr 27th 200 call for .18. Sold for 1.90 on 3/29.
Today: Sold BABA May 11th 195 call for 1.40
Tuesday: Sold $SQ Apr 27th 50 covered call for 1.01
Friday: Sold $UVXY Jan 2020 59 call for 4.80.
WHR
WHR BTC April 20, 125 put At .05, sold as a falling knife at 1.95
Wiping off a little DUST
Bought to close $DUST Jun 15 40 calls @ .25. Sold for 2.70 and 3.20 on 12/4 and 12/5.
LUV
#SyntheticStock – Trying to squeeze one more in before earnings…
Bought to Close LUV APR 13 2018 56.0 Calls @ .05 (sold for .68)
Sold LUV APR 20 2018 55.0 Calls @ .57 (filled one at .60 and the rest at .57)
AAOI
#HolyCrap – Am I seeing that right? LOL
CRUS
#LongCalls #IRA – Another week in the books selling against Jan 2019 45.0 calls. This particular position was started Feb 28 for 6.90 requiring 15 cents per week to cover. Already recovered 2.55 after today’s sale. The stock has dropped almost from the very beginning but overall showing only a small loss.
At this pace the calls will be completely paid for by the end of May leaving 7 more months of selling that will go straight to the bottom line. I’m not sure how it will work out but it seems like it would be fun to have a bunch of these with the calls completely covered with every sale after that being pure profit. If the stock is way down at the point the calls finally get paid off it would be a trade similar to what Jeff does with UVXY. He buys way OTM LEAP calls and then sells shorter term against those.
After having a mixture of synthetic and long call positions, I’m starting to lean towards just the long calls. Simpler to see exactly where you stand and less slop when trying to finally book the position.
Bought to Close CRUS APR 13 2018 40.5 Calls @ .05
Sold CRUS APR 20 2018 39.5 Calls @ .45
MU #shortcalls Sold the April…
MU #shortcalls Sold the April 20 54.5 Call @ 0.55 when MU was at 51.64.
#spxcampaign closed Apr 11 2620/2650…
#spxcampaign
closed Apr 11 2620/2650 BuPS for 10.50, sold yesterday morning for 9.50, spent afternoon sweating it out however.
MU #Long call Morning all….
MU #longcalls Morning all. I decided to go Long June 50 call @ 4.85 with MU @ 50.86. Slow getting it off this morning. I will sell weekly 55 calls once the buying settles down. This is paired with the short puts from yesterday.
Selling puts on RSX
Sold $RSX May 18 19 puts @ .54
Good Mornin
Good Morning
#pietrades Did not have time…
Did not have time to post but at lunch converted my UTX short puts and NSC short puts into strangles. Both going into earnings.
Normally I don’t do this on individual names, but trying to stay in some trades just a little longer to let theta do some work. As soon as I have a profit will close and roll down.
STO 24 DTE NSC 141 call for 0.6. Now have 127/141 strangle.
STO 24 DTE UTX 131 call for 0.6. Now have the 122/131 strangle.
I was looking at doing the same with XBI but is tearing to the upside. As soon as momentum shifts will add call side.
Closed Early / SPX Campaign
Closed Early
$MTN 4/20 BTC 210 Put at .30 STO 12/4 at 6.90 Thank you @jdietz1954
$SPX 4/20 BTC 2480 put at 6.00 STO at 12.50 2/3 of trade still open. Thank you @hcgdavis
$FXI BTC 4/20 51 call at .08 STO at .60 Thank you @thomberg1201
#spxcampaign
Following @jdietz1954
$SPX STO 4/13 2720/2710 BECS at 1.40 Thank you
#SPXcampaign BTC April 13th 2575/2570…
#SPXcampaign BTC April 13th 2575/2570 BuPS for 0.40 Sold yesterday for 1.05
SPX calls sold
#SPXcampaign Sold $SPX May 11th 2825/2850 call spreads for 1.75.
MU
BTO May 18 50/50/48 Bull #Fuzzy 2.77
STO Apr 20 54 Call .46
FB
Looks like the market is happy with the testimony so far…
SPX long spreads rotated
#SPXcampaign Sold to close half of $SPX May 18th 2770/2790 call spreads for 4.25. Bought on Friday for 1.75. Holding the other half for possible end to this correction.
Bought to Open SPX Apr 27th 2450/2425 put spreads for 1.10.
XLK–rolling inverted
Rolled Apr 60/64 inverted strangle up 2 points and out to May 62/66 inverted strangle for .15 credit with XLK currently at 65.85.
SPX calls sold
#SPXcampaign Sold $SPX Apr 20th 2700/2725 call spreads for 7.50.
SPX creeping up again… VIX going nowhere.
Closing NVDA strangle
Bought to close $NVDA Apr 27 195/265 strangle for 1.25. Sold for 4.05 on 3/27. Thanks again for the idea @fuzzballl.
SPX puts closed
#SPXcampaign Closed $SPX Apr 20th 2625/2600 put spreads for 6.50. Sold for 10.25 on Friday.
XOM
Rolled Apr 13 77.5 to Apr 20 80 .35 hope to break eve or small profit if we get there Apr 20 Expire date
HSIC
BTC a falling knife April 20, 60 put @ .05, sold at 1.80 on just 1 contract.
ERX
Rolled Apr 13 30.5 to Apr 20 31 .25 cr
Apr 20 is expire date
SPX Closed 1 May 18…
SPX Closed 1 May 18 2770/2790 3.80 have 2 left small profit cost <0
XBI
Rolled April 13, 91 calls to April 27, 93 calls for a credit of .28 cents. This is a 2020 fuzzy of 88 calls, 88 puts, and a hedge of 86 puts.
#SPXcampaign Sold April 13th 2710/2720…
#SPXcampaign Sold April 13th 2710/2720 BeCS for 1.40. This line is above the short term resistance of the current trading range.
Morning all #shortputs Sold to…
Morning all #shortputs Sold to open MU April 13th 49 Put @ 1.02 with MU at 49.06.
/ES Hedge
#ButterflyHedge – Just for fun…centering it down near last week’s lows expiring this Friday…
Bought to Open BUTTERFLY /ES APR 18 (Wk2) 2560/2550/2540 PUT @ .35
I did it 5 times risking 90 to make 2400
Some reversal, was there a…
Some reversal, was there a stupid tweet I missed or the Syria and trade war rhetoric back in the news?
#SPXcampaign I set up an…
#SPXcampaign I set up an April 13th 2575/2570 BuPS for 1.05 this morning. Filled on the pummeling into the close when SPX was at 2621.25.
MLM July put
Sold $MLM Jul 20 170 put @ 3.10. Will add if premium increases.
SA article: “Leveraged ETFs Decay Dashboard”
https://tinyurl.com/yafndasx
Lunch trades, work is cutting…
Lunch trades, work is cutting into my trading 🙂
FAS sold 4 DTE 65 CC for 1.74 against long stock. CB now 59.37, nice accrued rolls on this one.
NSC 18 DTE rolled out another week 128 put to 127 put for 0.3 credit. CB 126.33
FAS cold 4 DTE 65 CC against long stock for 1.77. CB now 61.88.
I was also looking at the triples and inverse funds. FAS has had several reverse splits, ERX as well. However, TQQQ, UPRO, UDOW, and TNA have only had positive splits. Not saying they cannot go low enough to reverse split but I am trying to refine this ITM debit spread idea #supercharger and I think going with names that are unlikely to reverse split would offer some additional cushion on the way down.
Trying to get the benefits of what we had with SVXY without the pain associated with it going close to zero.
SPX puts closed
#SPXcampaign Closed $SPX April 13th 2500/2475 put spreads for .45. Sold last Monday for 3.10.
After being whipsawed about six too many times, I’ve made two significant adjustments to survive this volatile period. I plan to stick with this until VIX is below 17.76.
Last week as we cruised higher, I got stopped on 3 call spreads and did nothing. If I’d sat on them, they would have all been winners. If I’d rolled them higher, they also would have been winners. So…
1. If I get stopped out, I need to roll FORWARD, and not reverse roll and don’t sit on my hands.
2. But before stopping out, consider just sitting on the troubled spreads. This is what I did Friday, as I sold a few put spreads early in the day, only to see them get under heavy pressure into the close. I felt certain, since we bounced off 2585 again, and because market keeps whipsawing, that we’d be up today. Wasn’t the most relaxing weekend, but I got the bounce.
So while I’ve closed one put spread today, I’m not selling calls. I’ll look for higher levels tomorrow and then start selling some calls, then wait for the next deep dive before selling puts.
#spxcampaign tried my luck again…
#spxcampaign
tried my luck again buy Apr 09 2635 puts 5.30, close 3.80
I guess today I am the grease that keeps the wheels turning.
FB
#LongCalls – I agree with Whiz and @jsd501 . Facebook isn’t going out of business any time soon and premiums are fantastic. Going with the basic long calls and selling against them. Only 1.50 more out of pocket up front but a 2.70 less max loss vs the synthetic.
Bought to Open FB JAN 18 2019 160.0 Calls @ 18.50
Only going out to Jan 2019 so 41 weeks to cover max loss requires 45 cents per week. This particular trade doesn’t even seem that directional. With the premiums available (Zuck testifying and earnings approaching) a big chunk of this will be recovered in the first 3 weeks. Even at just a dollar a week the trade makes 22.50.
So:
Sold FB APR 13 2018 162.5 Calls @ 1.64
#spxcampaign try again buy Apr…
#spxcampaign
try again buy Apr 09 2625 put for $6.70, place sell at $9.70
#spxcampaign buy Apr 09 2625…
buy Apr 09 2625 put for $10.50, have sell in at $12.50, got close
SPX puts sold
#SPXcampaign Sold $SPX May 11th 2400/2375 put spreads for 1.75. I’m expecting an up day… hopefully a decent rally but it may be muted. If VIX or put/call ratio start acting up, my theory may change.
Morning. We finished the Escape…
Morning. We finished the Escape room set Saturday and now its time to refocus on the market. I’ not in any hurry.
Good Morning all
Good Morning all
Econ Calendar for week of 4/9/18
Be sure to periodically click Home/REFRESH to keep Bistro features updated.
Blue asterisk refers to “market moving indicator.”
Synthetic Thoughts
FWIW…just some random things going through my mind (scary, I know!) concerning these longer term positions I’ve been trading.
1. If the stock implodes just after setting the trade the overall position will show a big loss initially. As time goes by, further drops won’t be quite as extreme.
2. What will a synthetic look like at expiration if it’s sitting at max loss? Correct me if I’m wrong:
Long call will be at zero and the short put and disaster put will be showing a loss equal to their width.
3. By using 2 above, I can calculate how much more possible downside is sitting in the current position….if you want to assume the worst that we wake up tomorrow and the market has sold off so far that all synthetics immediately go to max loss…and can my account handle that?
4. How would I handle a worse case scenario whipsaw near the end of the trade that results in the weekly short calls being well in the money but below the core at expiration? Chances are if it gets to that point there’s a ton of profit realized already. I could take the loss on the short calls and move on down the road or…what I would probably do is roll the calls up and out and set up a new synthetic and start all over since the stock could be recovering at this point.
5. I’ve looked around online and there are lots of sites talking about the LEAP diagonals but most only concern themselves with just selling monthlies and if you’re wrong on the direction to just take the losses and look for something else. Can’t find anyone talking about selling weekly for the entire duration and the profit potential of that. Maybe I’m missing something…
Good luck everyone!
FB
Ol’ Whiz had been calling for a Facebook implosion for quite awhile. His latest update though has a switch in his longer term sentiment on it. He’s saying a longer term position could be worthwhile now since he’s predicting “The Zuck” is going to resign and take a token position in the company and they’ll bring someone new in to take over the reigns. This will all be good for the company and possibly get them out of the daily news cycle…(worked for WYNN I guess…LOL).
I may take a shot…possibly synthetic but more than likely just buying some 2019 LEAPS and sell weekly against them. Premiums are great and shouldn’t take any time at all to recover the initial investment then everything else through the end of the year is pure profit.
Looks like the whippy market…
Looks like the whippy market will continue. Up 10 at the open, back down to 6 and now up 13.
Will convert some of my short puts to #jadelizard and strangles on the etfs tomorrow to bring additional $ and help stay in positions through the CHOP!
#optionsexpiration $SPX 2750/2725 BECS Thank…
#optionsexpiration
$SPX 2750/2725 BECS Thank you @jeffcp66
Closed Early
$SPX BTC 4/13 2745/2720 BECS at .40 STO at 3.50 Thank you @jeffcp66
$AMZN BTC 1610/1600 BECS at .20 STO at 1.14 as part of IC Thank you @thomberg1201
$FB BTC 4/20 170/162.5 BECS at .88 STO at 2.00
$FB BTC 4/20 190/180 BECS at .20 STO at 1.15
#shortputs
$TQQQ STO 9/21 80 put at 6.80 Thank you @jsd501
Looks like I picked the wrong week…
Have a nice weekend to everyone
Tune in on Monday for more exciting trading and fun.
SPX calls closed
#SPXcampaign Closed $SPX Apr 20th 2750/2775 call spreads for .45. Sold in a #CondorRoll for 7.05 yesterday (call side sold for 3.23). The put side is taking heat.
#BullCallSpreads – Thanks @mortlightman and…
#BullCallSpreads – Thanks @mortlightman and @Jeff for the idea. Made 1.30 on the last one so re-loading here…
Bought to Open SPX MAY 18 2018 2780.0/2800.0 Bull Call Spread @ 1.50
#spxcampaign New to this so…
#spxcampaign
New to this so the Put I bought yesterday 2660 for $15 I sold this morning in first 15 min for $20, as prices were declining.
Now I entered BePS debit 2620/2610 for $4.90 when price 2610 and weak. I’m considering adding to this position but need to know if I have to close it out or will automatically settle in cash? Can anyone help?
Ripsaw market, up 30-50 one…
Ripsaw market, up 30-50 one day, down 50-60 the next. I wanted some volatility but could be a little less pronounced than this.
Looks like all my CC will expire OTM now FAS, ERX, LNG, so will sell new calls on Monday.
Have a good weekend!
SPX trades
#SPXcampaign
Sold $SPX Apr 27th 2750/2775 call spreads for 2.35
Sold May 4th 2400/2375 put spreads for 1.60
Sold Apr 20th 2600/2625 put spreads for 10.25. This last one is betting on a bounce for Monday. But if that doesn’t happen I have two weeks to expiration so the flexibility to roll it ITM.
SLB
#SyntheticStock – 65’s expiring today (sold for .90). Replacing those with next week with earnings the following week.
Sold SLB APR 13 2018 65.5 Calls @ .61
CELG
#SyntheticStock – Selling below the July core so trying to stay cautious. Replacing this week’s 90/95 BeCS expiration.
Switching back to naked and selling right at the descending 50ma.
Sold CELG APR 13 2018 92.0 Calls @ .50
#earnings #longcalls DAL Dipping my…
#earnings #longcalls DAL
Dipping my toe back into some pre-earnings trades in this mixed market.
BTO April 13, $54.50 calls for .85 cents each. This is an 87.5% winner over the last 2 years of earnings cycles per the CML backtest. Probably could get in a few cents cheaper if I had been patient. Will close this out next Wednesday.
TLT
#PerpetualRollingStrangles – Was a little early but another good week for this one…
Bought to Close TLT APR 6 2018 121.0 Calls @ .15 (sold for .70)
Sold TLT APR 13 2018 120.5 Calls @ .56
#shortputs #pietrades AMAT Rolled April…
#shortputs #pietrades AMAT
Rolled April 20 50 put to May 18 50 put for .94. I’ll be away from the screen next week, moving some positions to May.
Options Bistro 