#spxcampaign
$SPX BTC 1/26 2845/2820 BECS @ 12.00 STO at 4.75
$SPX BTO 2/2 2865/2885 BUCS at 2.40
$SPX STO 2/26 2710/2735 BUPS at 1.60
#earningstrade
$LRCX STO 1/26 207.5/212.5 BUPS at 1.60 Looks good after hours
$AMZN STO 2/16 1345/1350 BUPS at 2.08
#SyntheticShortStock – Missed another one from earlier. Filled in tastyworks account. Is there a way to get text alerts on fills there?
Bought to Close UNG Jan 26 2018 24.0 Puts @ .01 (sold for .22)
Sold these this morning before I had to be away for the day. Saw the apparent carnage on my ticker feed. Must have been an exciting day.
$SVXY Sold Feb 16th 95 Put @ 1.00 when SVXY was at 130.53 Thanks Iceman
$SVXY Sold Feb 23rd 100 Puts @ 1.71 when SVXY was at 132.16
Jan 24 More #Fuzzy
1. New QQQ Fuzzy Bear Feb -168.5calls/+168.5puts/+169.5 calls for 2.47, hedged w/ Feb2 166 puts @.82
2. JNJ, been waiting to see buyers come in on this, there was some nibbling today Apr 140/140/135 @3.85 (has $2.00 intrinsic). Hedged w/ Feb2 145 calls @ .43
3. EA added a 2nd Earnings Run Up fuzzy on the drop today, Feb 2 114/114/112 @3.17, I have 5 of the 117-line fuzzies and 2 of the 114-line. These are unhedged, to be closed before report, profit target is always 40% for me using a GTC order.
4. Hedged AAPL earnings fuzzy on the poor performance this week. Jan 26 175 for 1.26.
Almost all of the Earnings Run Up fuzzies are based on historical 100% win rates (backtested), but AAPL doesn’t have that kind of historical win rate running up to earnings. I went a bit rogue on this one. Keeping the full $1260 on this hedge will go a long ways to fixing this trade. But this is a bit dicey, one news release and the hedge is blown.
Sue
#ShortPuts #IRA – Missed this one earlier…
Sold TXN APR 20 2018 105.0 Put @ 3.00
#Earnings $FFIV strangles and $LRCX bullish trades look good so far.
#coveredcalls $SVXY
Buy to close Jan 26 $134 calls for 0.38, sold Jan 18 for $2.67
SPX #UOA
The Trader held this one until right after the regular close. Big trade for mid-week next week, selling 2790/2775 Bull Put Spread
CMCSA #UOA
In the last 1/2 hour today, a lot of block trades and call buying.
With the strike getting breached at 261.25, I rolled $NFLX Jan 26 260 calls up and out 1 week to Feb 2 265 calls for .35 credit. Let’s see if this thing can’t slow down.
#SyntheticStock – Delta was approaching zero so closing and hoping for a pullback to reset…or might reset anyway 🙂
Closed July 50/50/48 synthetic
Closed Jan 26th 51 calls
Net gain of 75 cents on a six day trade. Thanks guys (and gals)!
BTO April 200 calls and also bought April 195 puts @22.40 on 2 contracts. It is breaking to a new high.
Hey @Iceman ….how’s those GWW short puts looking? Completely missed this earnings trade yesterday.
🙂 🙂
Someone is putting a lot of pressure on this ETF. I get the feeling that someone is taking a big profit. Also, watch the 10 year. It is creeping up very slowly.
#SyntheticShortStock – Adding to the short at original strikes for simplicity. Just averaging down on the debit..
Added to Jan 2019 32/32/34 synthetic short @ 7.80 debit
#UOA – Alert saying bullish but I’m not sure why…LOL @smasty ? Any ideas?
SWKS closed half a #fuzzy the 100 put 2020 leap and the 104 9 DTE for 12.10 credit.
Starting clean out to get back to cash so I can restart #pietrades and #spycraft trades.
Will take me 2,9, 16, 23, and 30 days to have everything flat or until the time value is out of the short options, hopefully before then 🙂
#CoveredCalls -This was a reverse roll of a strangle where the call side got blown out and then turned into covered stock. Finally back to a decent profit. Debating on holding it through earnings but finally decided to unload it and set up a new earnings play on the ticker tomorrow.
Sold to Close ISRG JAN 26 2018 420.0 Call Covered Stock @ 415.50 (bought for 410.45)
#Earnings -Thanks @Jeff ….almost forgot about this one. Selling put side for now.
Sold LRCX JAN 26 2018 202.5 Put @ 2.70
Sold LRCX JAN 26 2018 200.0 Put @ 1.80
This is about one third size of what a #Fuzzy would be so if the stock implodes well below these I’ll set up a Fuzzy down there wherever it ends up…or possibly roll the puts if not too DITM.
#SPXcampaign I did not catch the bottom but kind of chased as the bounce became clear:
Sold $SPX Feb 16th (Friday PM) 2800/2775 put spreads for 5.05.
Bought SPX Feb 2nd 2865/2885 call spreads for 4.00.
I go to the gym for the spin class and come back to this. What have you done? While I was gone I rolled my GS January 265 calls out to Feb. 2, 267.5 calls for a credit of .40 cents
#Fuzzy – Since others are bailing on this one and biotech is pulling back, I’m bailing with ya. STC EXAS Feb’18 50/50/45 synthetic and BTC EXAS Jan26’18 51.5 calls. Made 0.96 on 10 contracts. Glad to see XBI come back into orbit!
Borrowing an idea from TastyTrade (Liz & Jenny).
Sold $LUV Feb 16 58/67 strangle @ 1.15 with the stock at 62.33. Earnings tomorrow morning.
#SPXcampaign Sold $SPX Feb 9th 2875/2900 call spreads for 4.50. Throwing one out there in case this weakness holds up. Also looking to sell an aggressive put spread. I won’t be looking to roll any put spreads unless VIX moves over 12.50 or SPX below 2825.
STO Feb 16 43.50 .46 #hedge Net Debit .20
Thx
Smasty
#VXXgame Closed this one with nice profit, giving a nice chunk of buying power back so I can sell something better.
Closed $SVXY Feb 16th 80 put for .61. Sold for 7.35 in a strangle on Nov 15th
#Earnings Sold $LRCX Jan 26th 200 puts for 1.20 (now going for more).
Biggest UP move: 8.1%, Biggest DOWN move: -2.8%, Average move: 2.9%. This trade was 5.2% OTM at the time of the fill (stock price was 211.00).
This has only been making small moves down and bigger moves up on earnings. The last time it moved DOWN more than 3% was Oct 2011.
IWM closed #Fuzzy net 73.5 profit, gave back a bit too much.
#shortputs #fallingknife (but I’m not qualified to make the designation) UAL
Sold Feb. 2, 67.50 put for .90. This can quickly become a #pietrade
#buywrite $UVXY
buy UVXY at $9.76, sell Jan 26 $10 call for 0.35, if exercised 5.8% ROI so placed stop at $9.54 to keep very small profit. I may sell stock (if gain on pop) and buy 13 call for 0.05 since unlikely to exercise, undecided.
#ShortPuts – Sold SVXY MAR 2 2018 100.0 Put @ 2.55
#Earnings – Trading between the inverted strikes for now. To make room for other earnings plays booking with a small profit.
Bought to Close NFLX JAN 26 2018 260.0/252.5 Inverted Strangles @ 10.65 (sold for 11.05)
#SyntheticShortStock – Uncovering the #FuzzyBear ….
Bought to Close TLT JAN 26 2018 122.5 Puts @ .44 (sold for .30)
Jan 24 #Fuzzy early report
Every night I go to bed with one thought in my mind: “please may I have one more day to go flat?” So I did NOT squander today, I went pretty flat (not totally). The Fuzzy Biotech Trifecta….gone (EXAS/GWPH/EXEL). All index fuzzies are gone. Here’s a list of closures: BABA, IBM, JPM, SPY, AXP, SWKS, IWM, EXAS.
My total for the quarter now on CLOSED fuzzies is $46,463.
I do have one NEW Fuzzy: CMCSA Apr 42.5/42.5/40 @ 1.16 with a Feb 9 43.5 hedge @.50
Open Fuzzies: MU, KBH, DIS, IP, AAPL, BAH, MYGN, AMTD, VZ, FLIR, EA, CMCSA
#Earnings #ShortPuts Taking advantage of weakness in $AAPL to place an earnings trade early. Release is next Thursday.
Sold AAPL Feb 2nd 175 put for 4.05.
#SyntheticStock – I should be really enjoying this gold run but not so much. Another weekly sale that’s absolutely gotten run over. Rolling the whole thing up to get back to long deltas but still leave a little cushion for a pullback. Disaster puts were only 2 points below so leaving them in place for now.
Rolled Jan 2020 122/122 synthetic up to 124 (leaving 120 puts in place)
Rolled Mar 2018 124 calls up to 126
All for .35 credit…
#SPXcampaign Closed on GTC order: $SPX Feb 9th 2650/2625 put spreads for .20. Sold for 1.60 on Jan 8th.
#shortcallspreads TSLA
Sold Feb. 16 380/390 for 1.85, stock at 351, earnings Feb. 20
#SyntheticStock – Weekly sales…
Bought to Close SVXY JAN 26 2018 139.0 Calls @ .10 (sold for 1.85)
Sold SVXY FEB 2 2018 136.0 Calls @ 1.40
#SyntheticShortStock – Selling cautiously against the short. Getting close to adding to it…
Bought to Close NUGT FEB 2 2018 28.0 Puts @ .05 (sold for .55)
Sold NUGT FEB 9 2018 32.5 Puts @ .45
#SPXcampaign I have tried since Monday to sell my normal 5-week put spread, but keep missing a fill on the lows, only to see us ratchet higher. Finally just forced a fill. I don’t blame the market. Who wants to be on the other side of being long this market?
Sold $SPX Feb 23rd 2735/2710 put spreads for 1.60.
STO LNG Feb 2 55/53 BuPS .16 #Bitty
STO IP Feb 2 67 .30 #Hedge
Following @optioniceman from yesterday.
Sold $SVXY Feb 16 98 put @ 1.10.
On the 10% move down, sold $UAL Sep 21 50 puts @ 1.10
#Earnings Sold $FFIV Jan 26th 130/155 strangles for 1.60.
Biggest UP move: 9.6%, Biggest DOWN move: -10.0% , Average move: 6.0%.
Expected move: 8.90
My strikes are +/- 8.8% OTM
Sold at the highest strikes:
$NUGT Jun 15 54 call @ 2.60
$NUGT Sep 21 49 call @ 5.00
$NUGT Jan 18 2019 65 call @ 5.00
Per the prof. these are the points for trading SPX BuPS 100 points difference
Trade 4 weeks out
Sell BuPS on the SPX
The short put is around a delta 12
The long put is around a delta 5
Usually time trades with a 5 minute ES chart and PP’s (pivot points)
It is a known fact that the ES on normal days, moves up or down 2 PP’s
On the low, enter a trade
At the high, exit trades
Usually exit the short sides on 60-80% profit
If you have the margin, you can roll the short to the next Delta-12 in the same week
If not, exit the short for your profit
you can either sell the long back or let it expire
Then trade the next 4 week BuPS
Repeat the same strategy
Usually the BuPS can be exited within 2-3 weeks
Maximum loss SHOULD be $500
Since the market only goes up now, sold a 35 DTE 2675 put for 4.65. No short the 2675 and 2615 puts for 35 DTE after closing the call side of the strangle yesterday. Easier to defend in 1 direction as well.
#FallingKnife possibilities tonight. I think the UAL conference call mentioned a slight increase in capacity and everything sold off after hours…
AAL UAL LUV DAL all down…
FWIW
Jan 23 #Fuzzy Land
45 order fills for me today, whew! A lot of it was NFLX defense on a diagonal, managing deltas back and forth to orchestrate a nice landing (I hope!). It’s ok if you think I’m nuts. Last week I was contracting my holdings, reeling in profits for protection. But I got lured back in this week. So now I’d like to once again pare down a little as the week progresses. 80% of my trades now are some kind of Fuzzy. Unhedged Fuzzies for runners, straight up Hedged Fuzzies for consolidations (hedges are still getting steamrolled), Fuzzies for momo, Fuzzies for pullbacks, Fuzzies for pre-earnings run ups, Gorilla Fuzzies (unhedged) waiting for their moves.
1. New Hedged Fuzzy on AMTD Mar2 57.5/57.5/55.5 @1.14 with Feb 2 58 hedge for -.62 I used the Mar2 expiration to get 2.5-wide strikes.
2. BABA Earnings run-up Fuzzy was closed for 40% profit, then re-entered again when I saw a lot of bullish option activity. New fuzzy, which must be closed BEFORE the report is Feb2 192.5/192.5/190 @4.70, 40% target for profit. These pre-earnings fuzzies are unhedged. @MamaCash is due total credit for earnings run up trades, and figuring out that Fuzzies worked better than long calls is all due her.
3. MSFT Earnings run up fuzzy closed for 40%, this is the one I opened yesterday based on UOA, but since it hit 40% so quickly I took the profit.
4. Here’s a loser Fuzzy: HTHT was really running yesterday so I put on a momo fuzzy, Feb 160/160/155, only a 3-lot, but it quickly lost 70% today before I cut it loose. About a $1600 loss.
5. IBM new fuzzy Mar2 162.5/162.5/160 @3.21 with Feb2 167.5 hedge @.74, thanks to @Kathy1111 for finding the turn around today on IBM.
6. VZ new fuzzy Mar 52.5/52.5/50 for 1.54 with Feb2 54 hedge @.47, UOA on this, buyers came looking for the 52.5 calls this morning.
7. Closed all the 4-lot SPY unhedged fuzzies for a net $1225 profit. Was ready to just sit for a bit until I saw some big SPY buyers come into the market with a Feb 286+ target (look at that volume today, 265,000, they were actually buying 286/291 bull call spreads). So new Unhedged (for now) SPY Fuzzies Feb 282/282/279 @2.40 x 5 lots
8. IWM Fuzzies….hedges got run over today, so I closed just half of the hedge, which eliminates the ceiling for it to run, but leaves just a little hedge protection still on.
9. EA Earnings run up Fuzzy Feb2 117/117/115 @2.75, 40% target
10. FLIR–This is both Gorilla and Earnings Run up. Feb 50/50/48 @1.77. 40% target.
Hedges to manage for this week: AXP, DIS, EXAS (ITM after a nice move today), IWM, JPM, MU. There’s some really nice profits here that haven’t been obliterated for once, but there’s lots of time left in the week.
$SPX SPXCanpaign Opened two additional spreads today. Filled while I was away.
Sold to open SPX Feb 02 2750/2730 for 0.65 credit when SPX was at 2837.05.
Sold to open SPX Feb 09 2730/2710 for 0.80 credit when SPX was at 2836.93
Another big #Squeeze setting up. Kinda scary though with the move it’s already had but looks like it wants to go up…
@Iceman – Nice catch on this one!
#ContangoETFs #VXXGame Following @optioniceman in spirit:
Sold $NUGT Jan 2019 50 call for 5.95, adding to my position.
Sold $SVXY Feb 16th 120/100 put spread for 2.15. Margin cost to sell naked is too steep.
BTC SPX 23 FEB 18 2635/2535 BuPS @1.45 sold on 1/10/2018 @ 5.00
BTC SPX 23 FEB 18 2630/2530 BuPS @1.40 sold 1/10/2018 @ 5.00
BTC SPX 23 FEB 18 2650/2550 BuPS @1.65 sold on 1/19/2018 @5.00
BTC the 36DTE 2910 call on the strangle for 7. Sold for 2 so total loss on that half is $102. Total on the strangle was $400 so can still make close to 300 on the put side.
This stupid market just won’t stop, annoying really 😦
I would have left it, but have you ever had one of those days where everything on your screen is red!? I just need the SPX to not go up anymore, GILD to go back down, SWKS to go up, and WDC to pull back a little. Every stinking one of them is going the wrong way, so I really did this to keep from getting a margin call. I can recover the other 3 now.
The other issue is my theta is high but because everything is in the wrong direction it is not making a difference, at least I flattened the deltas buying back the /es call.
One of the best TT episodes was titled “I am not greedy, I just want it faster”. I think that was when they discovered 45 DTE is best decay rate for OTM options. That’s how I feel this week, huge decay but not doing me any good because they are all ITM now.
I think time to close everything out at break even or a slight profit and reload 🙂
#VXXGame #LongPutDiagonals #SyntheticShortStock
Sold $VXX Feb 2nd 26 call for 1.35.
With VXX perpetually headed to zero, I am selling short-term puts AND calls against my Jan 2019 long 25 puts.
#SyntheticStock – This trade makes me a little queasy thinking about how much the weekly sale has cost me…LOL. The synthetic originally started at 1000 and has been blocked ever since after a few initial call sales. Rolling up again to keep some long deltas but leave a lot of downside room. Should make weeklies easier to roll up IF the stock ever quits going up.
Rolled Jun 2019 1150/1150 synthetic up to 1250/1250
Rolled Jun 2019 760 disaster put to 810
Rolled Feb 1110 short call to Feb 1210 short call
Whole package cost 1.63 debit but gets the position sitting a little better for rolling…
Bearish UOA alert…I see lots of calls being thrown around in March. Not sure what’s going on.
STO MYGN Feb 45 .70 #Hedge
#SyntheticStock – He’s got me convinced…LOL. Staying small so not a lot of risk.
Sold GS JAN 18 2019 260.0 Puts @ 22.50
Bought GS JAN 18 2019 260.0 Calls @ 25.35
Bought GS JAN 18 2019 250.0 Puts @ 18.08
This gives a net debit of 20.93 for the Jan 2019 position. Add the 10.00 point max downside and get a max loss possibility of 30.93. Based on that, and the 51 weeks remaining in the trade I only need to average about 61 cents per week in sales to cover the absolute worst case scenario.
Giving it a lot of breathing room in the beginning until I see how the squeeze plays out:
Sold GS FEB 16 2018 275.0 Calls @ .95
Whiz still big time bullish on banks and still telling people to get in JPM. GS in a pretty tight squeeze here. Maybe take a small shot? JPM just looks too extended…
#SyntheticStock #IRA – Posted the details last week with all the nuts and bolts. Adding 1 for fun…
Bought Jan 2019 SVXY 135/135/132.5 Synthetic Stock / Disaster Put @ 38.35
About 80 cents a week to cover worse case scenario…
Sold SVXY FEB 2 2018 138.0 Call @ 1.80
BTC February 16, 135 puts @.05, sold @ 1.15
#BearCallSpreads #IRA – Closing some more that are using a lot of margin without much profit left to make.
Bought to Close UVXY JAN 18 2019 45.0/55.0 Bear Call Spreads @ .33 (sold for 1.32)
Bought to Close UVXY JAN 18 2019 60.0/75.0 Bear Call Spreads @ .32 (sold for 1.73)
#Pietrades Somewhat volatile, but works for me. NKTR
Rolled puts from my Feb 16 strangle up to 94 to go inverted (with 91 calls) for 1.02 credit.
Total premium taken in so far: 3.88, keeping me at a profit if XBI finishes between the strikes.
#Fuzzy – I REALLY wanted to ride this one for awhile but it has shot to the moon so I sold my XBI Jun’18 88/88/83 Fuzzy for 9.60. Also BTC XBI Jan26’18 90 calls for 5.60. After all said and done made 1.78 on 10 contracts. I will go back into this one on a pullback (hopefully?)
Also I did a couple of 59 minute trades on $NFLX this morning, bought some puts then sold em all within about a 30 minute period, made 1.97 combined on both those. My track record on these type trades is not good at all so I’m thankful for the green!
In my IRA, sold to open January 2019, 60 puts @8.90
BTO LNG Feb 16 57/57/55 1.22 not hedged at this time #FUZZY
Options Bistro 