BTC /ES 31 DTE 2615 put for 2.20. Sold for 5.25 but this was part of a strangle that I had to close the call side on for a loss. Made $5 on it total but still have the 31 DTE 2675 put. Will let it decay another week and close it.
Looking at opening another 2 contracts 47 DTE depending on how the week starts. We get even a little pull back will open strangle. If not, just sell puts, the calls keep getting run over.
$AMZN Jan 26 1255 puts
$BA Jan 26 350 calls
$BA Jan 26 355 calls
$BA Jan 26 330 puts
$BA Jan 26 310 puts
$FB Jan 26 172.50 puts
$SVXY Jan 26 110 puts
No assignments.
At some point this WTF market has to pull back. Maybe when it gets to Jeff’s 2900 level. 🙂
Have a great weekend everyone.
#optionsexpiration
Full Profit
$SPX 2575/2590 BUPS
$FB 177.5/185
$FB 172.50/177.50
$WYNN 170/175 BUPS (Whew)
$NFLX 212.50/217.50
Full Loss
$LRCX 207.5/212.50 BUPS Poor management on my part. I was stuck in euphoria (Not Illinois).
#shortputs
$WYNN STO 2/16 170/175 BUPS at 1.40
$WYNN STO 3/16 170/180 BUPS at 4.30
$SVXY $90 puts
$SVXY $92 puts
$SVXY $95 puts
$SVXY $100 puts
Jan 26 BTC 2 SPX Mar 09 2700(W) at $7.20 near the Close at 3pm(cst)…Sold previously on Jan. 12 for 17.90
60% Win
As earlier, I have the long side open pending further Mkt movement…
Expiring: $ISRG Jan 26th 410/490 #ShortStrangles, sold yesterday for 3.00.
Fourth week of the year, fourth week higher for $SPX. Run with the bulls.
Have a great WE People
LNG
Closed FB 170/167.5 Feb 2 Earnings had 52.5 net cr closed for .14
#OptionsExpiration – Same as last week…LOL
Sizable position so letting it run the distance.
HIMX 10.5 calls (sold for .32)
UVXY Jan 26 $10 call sold for 0.31 (last 0.01), rolled to Feb 02 $10 for 0.50
$SPX #spxcampaign Bought to close the Feb 9th 2730/2710 BuPS @ 0.30. Filled at the bell. Originally sold Feb 23rd for 0.80.
SVXY60 puts
SVXY 65 puts
SVXY 70 puts
SVXY75 puts
#Coveredcalls
Yesterday it was looking like I was going to be able to roll these up and out for a nice credit, the move higher today now has them far enough ITM that it’s tough to do without going out in time. So rolled out 2 weeks and we’ll see if we get any sort of weakness that will allow the next roll to be out and up for a credit.
Rolled $RCL Jan 26 $127 calls to Feb 9 $127 calls for $0.50 credit
#longcalls
$WYNN BTO 2/16 180/190 BUCS at 4.50
$WYNN BTO 3/16 185/195 BUCS at 3.85
#shortputs
$CAR STO 3/16 45 puts @ 2.55
$SVXY #Shortputs Sold Feb 23rd 90 Put @ 1.15 with SVXY at 127.57
#ShortPuts – Just staying involved in this one…
Sold 1 ISRG MAR 16 2018 370.0 Put @ 2.60
Taking this mostly profitable position off before next week’s earnings report.
Bought to close $FB Feb 16 160 puts @ .34. Sold for 1.25 on 1/12.
#ShortPuts #IRA – Sold WYNN JAN 18 2019 100.0 Put @ 2.45
Uh oh…glad I got out. Could be a great opportunity though. Steve Wynn getting a little handsy.
#SPXcampaign Closed $SPX Feb 16th 2920/2945 call spreads for 2.90. Sold this morning of 1.80.
Never fails! Just can’t do anything short in this market. So I lost 1.10 on this one while making about 10.00 on all my eroding put spreads, plus one call spread bought Wednesday for 4.00 and now at 7.25. Today’s action has me doubting what I wrote earlier… it feels more like we need to still grind higher, so I’m going to hold on for another notch up.
Jan 26 BTC 2 SPX Feb 23 2700(W) at $4.20 earlier this morning…Sold previously on Jan. 12 for 10.20..
Still have my long side open, will sell the 2750 against the 2650 long side on the next intraday pullback…
BTO UNP Mar16’18 135/135/130 for 1.16, STO UNP Feb02’18 135 calls for 1.09. UNP reported earnings yesterday.
1 more, closed out the GILD put #fuzzy for $951 loss but not too bad since it is in booster phase at the moment and had set up the #fuzzy as a recovery in the first place. The original loss at the time was $4838 so to I will take the 951 loss and move on. The CC will offset that when it closes in 4 weeks.
#longcalls
$LRCX BTO 2/16 202.50/212.50 at 3.75
#ShortStrangles – Still chugging along in the repair trade. For the first time in months I’m actually having to roll up and out. Earnings not until Feb 21.
Rolled Jan 26 34.5 calls to Feb 9th 35.5 calls @ .37 credit
Bunch o trades, good thing I had the day out of the office.
I believe everyone here has heard John Carter talk about the “plane trade”. Whenever he is on a plane and cannot trade the market goes haywire. I have the ski and kiteboard trade that is similar but magically did not happen yesterday. The Theta crush was nice, decay was $1400 yesterday and crushed to $40 this morning. So anyway I took it and went flat and used the $ to set up some #pietrades for next week.
First a few observations now that I am into my taxes.
1. It seems my best trades were #pietrades and anything I had basically sold naked or converted to a CC after assignment.
2. #fuzzy trades work well for recovery. Exhibit SWKS dropped 17 points on me after earnings. I rolled as much as I could then converted to a put based #fuzzy when it kept dropping. Managed to close out for $1635 profit today, it could have been really ugly and took about 13 weeks for it to pay off.
3. Getting out of #fuzzy trades is not as profitable as a CC or being assigned the put. The bid-ask on the longer dated options cuts into the profit. When the put assigns or the CC assigns you have basically sucked every penny of time value out of that option. However on a percentage basis synthetics are much better ROC.
4. Finding anything not way extended at the moment is really hard but I found a few for #pietrades
5. Laddering #pietrades usually does not work because you end up getting assigned on all of them at the same time. Better to keep them weekly. There is always something out there with decent premiums and a not too bad looking chart.
SVXY rolled Feb 2 105 puts to feb 110 for 2.92 credits. Sold for 3.42 so if assigned the cost basis will be 104
Did the same for Feb 16 105 to 110 for 2.05 credit. sold for 3.42.
SWKS closed out the final put #fuzzy at 100/102 for 13.10 credit. Made $1635 on the trade after rolling for 13 weeks. Good to be out with earnings next week.
WDC Closed out the put/call #fuzzy 82.5 strikes for 13.32 and 13.15 credits. Total profit $2600 but not great, I was up over 15k on that trade at one point. From now on will take the money early if the profit is there!!!!!!!!!
#pietrades
1. AAPL new CC for next week 165 strike for 163.43 runs through earnings but hope it will close on Friday 2/2 max profit $471 on 3 contracts if it closes.
2. GM 2/2 42.5 put for 0.53, 3 contracts for $156 after commisions
3. GILD open for 28 DTE 72 call is way ITM so will let it expire in a few weeks.
So basically made $627 for this week in income on 2 new trades using a 50k account with some margin. Goal is 900 a week so fairly close. Once the GILD trade closes I think it is possible.
Hope everyone had a good week. Only trade I have until next Friday is the #spycraft /ES puts once they decay a little more.
Cheers 🙂
Sold $WDC Jul 20 65 put @ 1.20
#shortputs #pietrades IMAT
Rolled Jan. 26 57.50 put to Feb. 2 for .55 credit, don’t want assignment this week
#Fuzzy – BTC MU Jan26’18 45 calls for 0.02, sold last week for 0.30. My core position is MU Apr’18 45/45/40, paid 0.87. So far have booked 0.85 in premium since opened on 1/02/18. Earnings are March 20. I’m going to leave this unhedged for now, seems like it’s been headed down the runway a bit, hopefully takeoff will be soon??
#earnings #shortputspread AAPL
As Jeff was selling AAPL puts ahead of AAPL earnings next week, Tradewise (TD Ameritrade) followed and sent out a Feb. 16 162.50/165 put spread trade in their “volatility advisory” category. Their premium was .73.
#SyntheticStock – Joining in on this popular ticker. Thanks @mortlightman for the reminder this morning. Saw it on @smasty ‘s update last night too but forgot. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold MU JUL 20 2018 43.0 Puts @ 4.73
Bought MU JUL 20 2018 43.0 Calls @ 5.56
Bought MU JUL 20 2018 41.0 Puts @ 3.77
This gives a net debit of 4.60 for the Jul 2018 position. Add the 2 point max downside and get a max loss possibility of 6.60. Based on that, and the 25 weeks remaining in the trade I only need to average about 26 cents per week in sales to cover the absolute worst case scenario.
So:
Sold MU FEB 2 2018 44.5 Calls @ .60
#SPXcampaign Preparing again for a possible pullback. VIX has not been dropping much and we’re getting more signs of consolidation. I remain net long but want to be prepared. So many indicators telling us this thing needs a rest.
Sold $SPX Feb 16th (Friday PM) 2920/2945 call spreads for 1.80.
Sold $SPX Feb 23rd 2935/2960 call spreads for 1.60.
Also, closed on GTC order:
Feb 9th 2660/2635 put spreads for .20. Sold for 1.55 on Jan 10th.
STO February 16, 134 calls against my long position of 2020 130 calls.
#SyntheticStock – Earnings next week. If we get a little run up to a flat delta I’ll book it before. Keeping the sale tight and since it’s in an #IRA I have to close before I can re-sell.
Bought to Close MAT JAN 26 2018 17.5 Calls @ .05 (sold for .27)
Sold MAT FEB 2 2018 17.5 Calls @ .85
$SPX #spxcampaign BTC Feb 02nd 2750/2730 BuPS at 0.25. This was a late opening position on 1/23 for 0.65. Sort of coming out of hibernation.
#Earnings Sold $NFLX Feb 2nd 260 put for 2.55. Makes up for loss on call side from earnings trade. Expires next Friday.
#Earnings – Getting out while I’ve got a chance…
Bought to Close WDC JAN 26 2018 86.5/93.0 Strangles @ .45 (sold for 1.94)
STO Feb 2 61 .42 #hedge
Closed $KMB Jan 26th 120 calls for 1.80. Closed the 111 puts for .05 on Tuesday.
Sold the strangles for 1.05 on Monday.
I may look at another strangle to make back the loss, since premium look decent.
Good Morning
No market access again today, but had a couple of GTC orders get hit
STO Mar 2 $80 puts @ $1.15
STO Mar 16 $75 puts @ $1.55
These were following @optioniceman trades from yesterday.
#shortcalls
$EXAS BTC 1/26 50 call STO $EXAS 2/2 52 call at even
#rollup
$SVXY BTC 2/16 130 call STO 3/16 140 call at additional .50 credit
#spxcampaign
$SPX BTC 2/16 2895/2870 BECS at 6.00 STO 1/17 at 1.80
#shortputs
$ETE STO 2/16 18.50 put at .50 Attempting to acquire stock
Jan 25 #Fuzzy Land and #PieTrades
Another very nice day in Fuzzy Land here. I feel very balanced in the portfolio right now. Hedges are working on the trouble makers. JNJ–nice move today. EA–moved the wrong way but I’ve learned to stay patient on the earnings trades that have a 100% backtest win rate, and I keep them small. AAPL got cut today, when I ran the backtest on it today it only wins 25% of the time for earnings run up, so I was a goof to even have that trade on. BUT I had a pre-earnings trade on for BA today that ran up big in just a few hours. I’ve got a nice mix of shorts and longs. With volatility up, it’s easy to hedge the Fuzzy Bears with a strike that allows beautiful profit even if runover.
1. Closed the FLIR Earnings Run Up Fuzzy for 47% profit, $415
2. Opened hedged SPY Fuzzy Bear Feb 284/284/285 @ 2.54 Jan31 280 hedge @.53
3. Closed AAPL pre-earnings fuzzy for net $1115 loss….BUT
4. Opened BA pre-earnings fuzzy and closed it 3 hours later for $2100 profit
5. Rolled MU Hedges to next week, and opened a new MU Fuzzy (Mar 43/43/41 for 2.22). I’ve collected a net $4200 in MU hedges…MU can be a little dramatic (like a toddler in a store), but that’s what makes for nice premium to sell for hedges. So MU is now in 3 of my 4 accounts.
6. VIX I compared long calls to a long fuzzy for VIX…remember the grocery store question? ATM Fuzzy costs the same as $2 OTM long calls, with higher deltas on the Fuzzy for better performance. So I opened Mar 21 12/12/11 Fuzzy, unhedged, for 1.57 as an overall hedge. I’d like to layer more of these in as vol/price drops.
7. AMTD, there’s a sell program going on in this ticker, I’ve got lots of cycles in front of this for hedges, so rolled today from 58 to 56 calls. There was a LOT of call buying on this today, probably due to ETFC reporting. I didn’t see the call buying affect price though, like it usually does. It’s sitting on a 50% retracement here. I’m grateful for protective puts + hedges for a nice counterbalance.
8. Added 2 small-lot DIA unhedged fuzzies at the bottom today. Feb 263/263/261 @ 2.45
9. Added MGM pre-earnings run up Fuzzy (early I know) Feb23 36.5/36.5/35 for 1.13
10. Although not technically a fuzzy since it was a synthetic only, I made 422% on a BX-synthetic, buying yesterday at .09 and selling today at .47. 5x my entry price. That was an earnings run up play.
11. PieTrades: so far my only ticker is LMT for this campaign. Sold 327.5 puts on Monday, was able to cover 1/2 of them today for .05. I assume other half tomorrow morning. That will equal $680, thanks @hcgdavis LMT reports Monday morning, so Monday or Tue next week will be good for the next round.
Bought to close $LUV Feb 16 58/67 strangle for .90. Sold yesterday for 1.15.
#Earnings
Going out to August to get some premium at a relatively low delta (these are at 21).
Sold $AAL Aug 17 puts @ 1.17 with the stock at 52.95. IV is still elevated (IVR 57).
#ShortStrangles Closed $AVGO Feb 16th 250/290 strangles for 7.40. Sold legs separately for a total of 9.35, so profit of 1.95. Not rolling, I’ll just take profit and wait for earnings in late Feb.
Doing it again
BTO Feb 16 58/58/56 1.67 #fuzzy
Have order in to sell feb 2 61 .35
#SyntheticStock – Don’t want all of my eggs in the AAL basket so taking a shot with LUV…
Synthetic Stock:
Sell to Open LUV JAN 18 2019 60.0 Puts @ 5.89
Bought to Open LUV JAN 18 2019 60.0 Calls @ 6.64
Disaster Puts:
Bought to Open LUV JAN 18 2019 57.5 Puts @ 4.75
This gives a net debit of 5.50 for the Jan 2019 position. Add the 2.50 point max downside and get a max loss possibility of 8.00. Based on that, and the 51 weeks remaining in the trade I only need to average about 16 cents per week in sales to cover the absolute worst case scenario.
Giving it a little breathing room in the beginning until I see how the recovery goes:
Sold LUV FEB 2 2018 61.5 Calls @ .41
Still going really slowly on this.
Sold $SVXY Mar 16 70 put @ 1.20.
Will add at lower strikes and/or higher premium.
#Earnings Sold $ISRG Jan 26th 410/490 strangles for 3.00. Biggest UP move: 8.9%, Biggest DOWN move: -5.6%, Average move: 4.7%. My strikes are about 8.9% OTM
#Earnings – Total crapshoot here. Playing it bullish but have no clue…only theory is short puts are easier to deal with on a big move than short calls. 🙂
Sold WDC JAN 26 2018 86.5/93.0 Strangles @ 1.94
#Earnings – Playing it at the expected move to the downside and twice the expected move to the upside…
Sold ISRG JAN 26 2018 425.0/490.0 Strangle @ 4.75
Well crap! I’m running out of time and ran out of hope and ideas on this one, I can’t catch up and she’s not coming back.
STC EWZ 17JAN20 +41C-41P+36P, BTC EWZ Jan26’18 41 calls.
I walked down the tracks too long and the freight train hit me. Lost 0.85 on 10 contracts. The good news is you guys have shared ideas that have more than made up for that loss. Thanks!
#SPXcampaign After we tested going negative this morning, $CAT bounced off its rollercoaster of a morning and helped nudge the markets higher. $NFLX is going parabolic again, too. My $KMB calls are now underwater; could have closed for a nice profit on Wednesday. So I think we go higher, driven now by earnings.
Closed $SPX Feb 9th 2875/2900 call spreads for 6.00. Sold for 4.50 yesterday. That was my only short hedge on SPX. I also went long with a risk/reversal that’s making me a whole lot more than this 1.50 loss.
STC 57/57/55 #Fuzzy 2.50 BTO 1-23 @1.22 113.00 profit 2 days
Put a close price in as a marker and was out this AM, hit it. Damm
Rolled $NFLX Feb 2 265 calls up and out to Mar 9 275 calls for 1.42 credit with the stock at 269.71.
#SyntheticStock – Rolling weeklies again into earnings week as high as I can for a credit…
Rolled Feb 2nd 390 calls to Feb 9th 400 calls @ .31 credit
Rolled Feb 2nd 395 call to Feb 9th 407.5 call @ .19 credit
STO January 2019,265 covered calls @6.70
#SyntheticStock – One of my last ones where the weekly was run over from almost the second I set the trade. Been running negative deltas for awhile. This pullback is giving me a chance to get out at even. Lousy fills out in 2020 or would’ve been a decent profit.
Sold Jan 2020 15/15/12 synthetic stock
Bought Apr 2018 16 calls
Made $36.50 after commissions! 🙂 🙂
STO June 70 put at 4.70 on 1 contract. Just testing the water.
Sold to open September 21, 16 puts @.60
#SyntheticShortStock – Still messing around in the tastyworks account. I think I could get used to it. After seeing the commissions and fees it’s looking like an average of about 56 cents per contract with each leg capped at 10 dollars.
Sold UNG Feb 16 2018 25.0 Puts @ .63
Nice bounce of 250 area so far. I hold #ShortStrangles Feb 16th 250/290
#Earnings #ShortPuts Added another $AAPL Feb 2nd 175 put for 5.20. The bet is we raise into and after earnings. But if not, I’m okay rolling or taking some stock at 170 cost basis.
#Earnings Closed $FFIV Jan 26th 130/155 strangles for .16. Sold yesterday for 1.60.
#ShortPuts – Throwing these in the divvy part of the #401k ….
Sold UNP May 18 2018 125.0 Put @ 3.70
Sold UNP May 18 2018 120.0 Put @ 2.45
The 10 year treasury note is now at 2.66% and the SVXY continues to see selling even though we are still in contango. I think that some institution is taking profits and getting ready for a correction. I have a large position in the puts of the SVXY from 40 to 60 and don’t intend to add to it until we get a correction. I would also not mind being assigned at those levels and sit on the position for the next 10 years.
#SyntheticStock – Clearing the 50 ma and looking like it’s finally getting some air under it. Rolling weekly out and up. All weeklies are now next week with earnings the following week. Lots of options going into that high IV.
Rolled REGN JAN 26 2018 380.0 Call to FEB 2 2018 390.0 Call @ 1.70 debit
$SVXY Rolled my Jan 26th 120 Puts out and down to Feb 16th 95 Puts for .75 credit. Originally sold for 2.45 on 1/16
The stock is making new highs and I decided to roll my Feb. 2nd. 267.5 call to Feb. 9, 270 calls for a credit of .15 cents. I just rolled these yesterday. I would be better off not selling the nearby calls.
#Earnings – Worked great…I’m out and moving on down the road towards ISRG and WDC.
Bought to Close FFIV JAN 26 2018 130.0/155.0 Strangles @ .19 (sold for 1.33)
Bought to Close LRCX JAN 26 2018 200.0 Put @ .05 (sold for 1.80)
Bought to Close LRCX JAN 26 2018 202.5 Put @ .65 (sold for 2.70)
#Fuzzy just completed another on KR this morning. positive result thanks for the direction from you all. Profit was 40% and used a 2-lot
#Earnings Closed $LRCX Jan 26th 200 puts for .05. Sold yesterday for 1.20.
Options Bistro 