#spxcampaign Closed Early
$SPX STC 1/12 2750/2775 BUCS @ 13.00 BTO @ .94 on 12/20 Have a few left. Thank you @jeffcp66
$SPX BTC 1/16 2675/2700 BUPS @ .20 (GTC order) STO @ 5.00 on 1/3 Many thanks SPX guru @jeffcp66
#shortputs Closed Early
$BABA BTC 1/19 195/185 BECS @ 4.30 STO @ 1.30 on 12/22
#shortputs
$NFLX STO 1/19 210/215 BUPS @ 1.40 Earnings 1/22 – Expecting melt up
#SPXcampaign Sold $SPX Jan 26th 2800/2825 call spreads for 3.60.
I decided to dip my toe in since we had such a strong surge at the end of the day. If we get any pullback or consolidation over next couple of days, I can close this for under a dollar. If not, I’ll stop it at 5.00 or 6.00.
Roll EWZ Jan12’18 40.5 calls to Jan26’18 41 calls for 0.05 debit. A pull back would be nice in this one.
Roll MGM Jan12’18 34 calls to MGM Jan26’18 34.5 calls for 0.09 credit.
#SyntheticStock – Don’t trust it. Could wake up tomorrow and be up 30.
Bought to Close REGN JAN 12 2018 390.0 Calls @ .10 (sold for 3.55)
Other than one option sold in $GUSH, just riding the wave today as the Upside Warning brings us higher. I’m going to sell my long $SPX Jan 12th 2750/2775 call spreads today for 13.75 or best I can get before the close. It may go higher tomorrow, but for that I have the same spread with Tuesday’s expiration.
I gotta believe we’re due for a consolidation period soon, but it’s hard to pick a top. Rather than my typical 5-weeks-out, I will probably try selling some shorter term call spreads, as they will lose their value very fast once we consolidate.
STO JPM strangle JAN 18 115/105 for .41 cr. Expected move is 3.18 for Jan 19. Earnings Friday morning.
BTC February 16, 80 put @.05, sold at 1.05
Still stubbornly in the money and now with little to no time value left, this option was demanding to be rolled so I obliged. Rolled the short Jan 19 115 put out to Mar 16 115 put for 1.47 credit.
#ShortPuts STO 2 Apr 20 35 puts @ 1.60 manage to 50% watch earnings about Mar 15.
#CoveredCalls BTC Jan 19 40 cc @ 1.10, STO Jan 2 @ 1.00 it’s an $18 loss, shares broke above 40, cost basis 40.965, now trading @ 40.30. With .45 div still ahead, but need to watch upward ticks on CC, IV51.60.
#SyntheticStock – Nice winner I’m planning on closing before earnings. It’s up near resistance but also in a nice squeeze so rolling weeklies up and out picking up a lot of long deltas. Hoping for a break above 34.50…
Rolled MGM FEB 2 2018 32.5 Calls to MAR 16 2018 33.0 Calls @ .28 credit
#shortputs T
Sold Feb. 16 35 put for .48, goes with TradeWise Feb. 16, 39 covered call. Ex dividend date was Jan. 9, T has dropped almost 2.00, seems to be leveling.
STC Jan 12 2650/2675 Calls 10.10 bought 1/8 for .47
Thank You Jeff
STO MU Jan19’18 45 call for 0.32
btc on gtc T, 9 FEB 18 38 CALL @.45 had sold on Monday for 1.01
goal 50%
First position in this 3x oil & gas ETF.
Sold $GUSH Mar 16 44 calls @ 2.05. Highest strike in March.
A lot of monkeys lived near a village. One day a merchant came to the village to buy these monkeys! He announced that he will buy the monkeys @ $100 each.
The villagers thought that this man is mad. They thought how can somebody buy stray monkeys at $100 each? Still, some people caught some monkeys and gave them to this merchant and he paid them $100 for each monkey. This news spread like wildfire and people caught monkeys and sold them to the merchant.
After a few days, the merchant announced that he will buy monkeys @$200 each. The lazy villagers also ran around to catch the remaining monkeys! They sold the remaining monkeys @$200 each.
Then the merchant announced that he will buy monkeys @$500 each! The villagers start to lose sleep! … They caught six or seven monkeys, which was all that was left and got $500 each.
The villagers were waiting anxiously for the next announcement. Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @$1000 each! He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.
The merchant went home. The villagers were very sad as there were no more monkeys left for them to sell at $1000 each. Then the employee told them that he will secretly sell some of the monkeys @$700 each. This news spread like wildfire. Since the merchant now buys monkeys @$1000 each, there is a $300 profit for each monkey.
The next day, villagers made a queue near the monkey cage. The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!
The villagers took care of their monkeys & waited for the merchant to return. But nobody came! … Then they ran to the employee but he had already left, too!
The villagers then realized that they have bought the useless stray monkeys @ $700 each and are unable to sell them!
Now you understand how Bitcoin works.
Well with that solved, back from PSP and ready to go to work…LOL
Jan 10 #Fuzzy part 2
It’s not Friday yet? Another crazy day. Already reported a few trades this morning, that seems like days ago. It’s warm enough in Denver to light an afternoon fire on the patio, problem is we’ve had almost zero snow–so I don’t want an errant spark to burn down the adjacent field.
1. SPY update: $4753 YTD, Still have 40 Fuzzies all hedged
2. All the (45, not 40) Q Fuzzies got hedged with Jan 19 162.5 calls @ .85-.86 cr
3. TGT new Fuzzy Feb 70/70/67.5 @2.26 Jan 19 71.5 call @.98
4. IWM 20 new Fuzzy 154/154/151 @2.88 Jan 19 155.5 call -.66 (OI is big on the 155 line for next week)
5. IWM 20 new Fuzzy 155/155/152 @ 2.35 Jan 19 155.5 call -.73
6. CMCSA BIG BIG BIG UOA on this 15 min before the close (that’s when those sneaky hedgies do it) so I very quickly unhedged this to fly free BTC jan 12 40.5c .58
The biotech Fuzzy experiment behaving well today, driving fresh new highs across the board.
Scrolling through my watchlists looking for some #Fuzzy candidates. Here’s an interesting one.
Going out to Jan 2019 a 23/23/20 is only 3.55. Max loss 6.55 with 53 weeks to go. With the crazy premiums in this thing you could almost have that risk covered in 5 or 6 weeks. Then…let it ride un-hedged as a freebie. Otherwise, just 12 cents a week to cover a trip to zero…
SIG #FallingKnife
Didn’t see this was filled earlier.
Sold $SIG 7/20 35 put @ 1.35.
#SyntheticStock – Nice base being built here and entering a squeeze. Adding small in the only account without biotech exposure.
Sold AGN JAN 18 2019 175.0 Puts @ 18.73
Bought AGN JAN 18 2019 175.0 Calls @ 18.78
Bought AGN JAN 18 2019 170.0 Puts @ 16.57
This gives a net debit of 16.62 for the Jan 2019 position. Add the 5 point max downside and get a max loss possibility of 21.62. Based on that, and the 53 weeks remaining in the trade I only need to average about 41 cents per week in sales to cover the absolute worst case scenario.
So:
Sold AGN JAN 19 2018 180.0 Calls @ .73
#SPXcampaign Sold to Open $SPX Feb 9th 2660/2635 put spreads for 1.55.
#Fuzzy – Still no position but getting perky.
Jan 2020 20/20/18 #SyntheticStock only requires 3.5 cents per week to cover core and max loss. Hmmmm…
#shortcallspreads TSLA
Sold Feb. 16 375/385 for 1.75, stock at 334
#ShortStrangles – Clearing out another strangle. Looking at a possible #Fuzzy on this one if it drops a little more.
Bought to Close AVGO FEB 2 2018 250.0/290.0 Strangle @ 3.15 (sold for 5.00)
STO July 180 puts @2.15 with stock trading at 219, Drinking alcohol is not going out of style.
Firing up Coinbase right now LOL.
Was pretty busy with the day job this morning. Just aren’t getting much for opportunities for entering these trades. Since I’m very low on open #VXXGame positions, followed @optioniceman and @ramie77 making a few trades myself this morning.
STO $SVXY Jan 19 $110 puts @ $0.62
STO $SVXY Jan 26 $95 puts @ $0.60
STO $SVXY Feb 9 $75 puts @ $0.55
STO $SVXY Feb 16 $85 puts @ $1.22
#SyntheticStock – Has to turn around at some point but doesn’t look like anytime soon. This week’s short calls look safe so selling next week.
Sold REGN JAN 19 2018 380.0 Calls @ 1.80
Initial trade required 90 cents a week to cover everything.
#ShortStrangles – Not liking the way this one is acting. It might bounce here…or not. Taking a tiny winner.
Bought to Close NTES JAN 26 2018 325.0/400.0 Strangle @ 5.48 (sold for 6.20)
#shortput
$FB STO 1/26 177.5/185 BUPS @ 1.40 Earnings 1/31
#spxcampaign
$SPX BTO 1/19 2765/2785 BUCS @ 1.90 Thank you @jeffcp66
$SPX STO 2/23 2550/2650 BUPS @ 5.80 Thank you @alsumde
#spxcampaign Cleanup Getting out earlier than usual ;-}
$SPX BTC 1/26 2765/2740 BECS @ 11.50 STO @ 1.90
$SPX BTC 2/2 2775/2750 BECS @ 10 STO @ 1.50
$SPX BTC 1/19 2765/2740 BECS @ 6.50 STO @ 1.50
Jan 10 #fuzzy
COST #FuzzyBear was closed at the low this morning for $1370 net profit
QQQ 45 new QQQ Fuzzies (multiple accounts) Feb 162/162/159 @ between 1.60-1.70 currently unhedged
#SyntheticShort – With VXX going away I’m closing this short down. No where to roll the short puts and a big volatility spike might not leave time for it to come back down. Turned out pretty good since I had fewer short puts than synthetic short stock. Re-load on next UVXY split…
Sold to Close 13 VXX Jan 2019 50/50/55 synthetics and Bought to Close 9 VXX JAN 18 2019 28.0 Puts
Net gain on each synthetic of 3.85. Not great but worth the margin for sure…
BTC MU Jan12’18 45c for 0.06, STO was 0.37. Thanks to @smasty160 and Jim Cramer lol
#ShortStrangles – Last time I got involved with this one it was screaming higher but worked out ok. Looks like I’ll be rolling this into an earnings trade. Big roll of short put to try to corral this thing.
Rolled ISRG JAN 12 2018 400.0 Put to JAN 12 2018 425.0 Put @ 8.60 credit
Position is now 425/400 inverted @ 25.95 for Friday.
Anything between the strikes is a small winner…but with all the premium I’ll probably roll to earnings week and see what happens.
#vix
https://www.bloomberg.com/news/articles/2018-01-10/is-the-vix-being-gamed-a-sudden-swoon-has-traders-talking-again
#spxcampaign
STO SPX 28 FEB 18 2625/2525 BuPS @5.10
#spxcampaign
STO SPX 23 FEB 18 2635/2535 BuPS @5.00
#spxcampaign
STO SPX 23 FEB 18 2630/2530 BuPS @5.00
Sold $WHR Jun 15 130 put @ 1.90
#SPXcampaign Sold to Open $SPX Jan 22nd 2740/2715 put spreads for 7.50 (wish I’d waited 10 minutes).
#VXXGame Sold to Open $SVXY March 16th 130/110 put spread for 8.05. That cost me 2K in margin as opposed to a naked March 120 put, for which they wanted 12K. I guess that means I’m long the market.
#SPXcampaign Bought to open $SPX Jan 19th (Friday PM) 2765/2785 call spreads for 3.20. Also orders in to sell some put spreads.
#VXXGame Bought to CLOSE $SVXY Jan 19th 125 call for 11.15. Sold for 3.75 on Oct 26th. Looking for roll options.
Sold $SVXY Mar 16 65 put @ 1.20
BTC January 19, 145 put @ .01, sold @ 1.05
GM, China again
I am watching the ten year and if we get over 2.60 the next level will be 3%. I think that if we get over 3%, we will be in a bear market in bonds and that is not good for the stock market.
Could this be the start of correction?
#spxcampaign
$SPX STC 1/12 2750/2775 @ 9.00 BTO @ .93 Sold 1/3 of position. Thank you @jeffcp66
#shortputs
$NTNX STO 1/19 37.50 puts @ 1.15 Thank you @honkhonk81
Jan 9 #Fuzzy Trades
This was a REALLY busy day. Let me start by saying these first 6 trading days of the year have been just amazing. Pinch-myself-amazing. So I’ve starting peeling some things off. Fuzzies that have upcoming earnings, or have had a lot of debit rolls and were yet again ITM just got yanked today.
1. Let me start with SPY….I no longer can account for where I am in the core debit reduction on my collective SPY trades. Hedges and unhedges are flying around my office like Chinese throwing stars. The best measurement I think is just nightly P/L updates on SPY until I’m flat.
SPY YTD: $4883.00
I still have 40 SPY Fuzzies that are hedged, and I may look to peel those off tomorrow and go flat, preparing for a reset.
2. CVX calls were down to about .20 extrinsic, time to roll. BTC Jan12 127 c 1.71, STO Jan 26 128c 1.77.
3. FAS (x20) same as above on extrinsic. BTC Jan 12 70c approx 2.40, STO Jan 26 72 c approx 1.87
4. DIA bought 15 unhedged fuzzies yesterday for trend trade, sold today for net $840
5. LMT facing another large debit roll and upcoming earnings, and protective puts increasingly farther away, closed 20 of these today for net profit of $5191.00. Anxious to reset with tighter puts in spread and distance—beautiful fuzzy!!
6. IWM same story as above, net profit is $2627.00
7. MU used the AS-BB osc to close a hedge for $1430.00 profit at osc low, then re-hedge. BTC Jan 26 47 c @ .54, STO jan 19 46 c @.47
8. RCL has had terrible technicals for weeks, used today’s strength to play against significant profit taking in other positions and remove this for loss. Net loss $1670.00.
9. EXAS Hedged 1/2 of my 20 fuzzies before their presentation this afternoon at the JPM medical conference STO Jan 19 55 calls @.75. The other half is still long term focused w/o hedging.
10. MNST so much for “Lazy River Fuzzies” BTC Jan 12 64 c for 1.34 STO jan 26 65 c for 1.32, got a buck for .02.
Fun Stuff
New Fuzzy: CRM Feb 110/110/105 for .32, sold Jan 19 110c for .74. Used Feb to avoid earnings. You read this right, the first-round hedge has already covered the cost of the core trade.
Really Fun Stuff:
FUZZY BEAR
COST Fuzzy Bear STO Feb 190call/BTO Feb 190p/BTO Feb 195c x 5 Unhedged 3.99 debit I put this on when underlying was trading close to 188 today, so there is nice profit. It’s very quickly approaching support, will need to play chicken with a hedge decision on this. Looked like squeeze would fire “bear” to me.
Sold $KMB Jul 20 100 put @ 1.25 with the stock at 116.80. Price hasn’t been at the strike since Oct 2014.
#shortputs
Rolled Jan. 19 45 put to Feb. 16 45 put for .84, originally sold Dec. 17
Added a hedge to SPY STO Jan 12 278 call .32
With the stock just breaching the strike I’m rolling the Jan 19 1250 covered call out 1 week and up 5 points to Jan 26 1255 call for 3.90 credit. The Jan 26 expiration is still pre-earnings.
Sold $XBI Feb 16 81/91 strangle @ 1.84. Leaning a little bearish, thinking the bounce won’t push XBI above its all time highs.
#SPXcampaign Sold a third of my LONG $SPX Jan 12th 2750/2775 call spreads for 10.45. These were bought for only .45 back on Dec 11th. I’m keeping the rest until Friday’s expiration.
Here’s a new one I’m trying. Biotech scares me a little bit but the premiums in this ETF look very rollable and juicy. I’m leaving it unhedged (unhinged?) for now. I like that you don’t have as much worry about earnings on an ETF, I’ve been closing stock-based Fuzzies in anticipation of earnings releases.
BTO XBI Jun’18 +88calls -88puts +83puts for 3.20.
AAL covered call in small account. Feb 2 CC at 52.5, just 2 contracts. Debit of 50.91. Making some money on @fuzzballl company.
#spycraft update. For those still in the trade you should be making good $ now. I closed out yesterday at a 125 loss on 5 contracts. With the vix being so low and the parabolic market at the moment (i thought the new years goofy juice would have run out by now) I am going to hold off on additional trades at least until we have a pause, a slight pull back, some volatility or at least not a 1 sided parabolic move. I think any short strike in SPY right now is going to exceed the expected move (probably to the upside) and just require a bunch of adjustments.
I want to make money, don’t need to be right but the risk is not worth the reward at the moment on credit spreads and IC on SPY or any of the other indexes. I will find an edge in individual names until the volatility returns and earnings will help that. Even a vix of 12 would be appreciated at the moment!! Is that asking too much?
#Fuzzy My short calls capped the advance of profit on this one IF earnings are on 02/05/18 lol. I thought MYL would be nice and move sideways for a bit while I harvested premium but NOPE. So…
STC MYL Apr20’18 +42.5c -42.5p +40p for 3.77, BTC MYL Jan19’18 43.5 calls for 1.93. After all said and done made $280 on this trade opened 12/26/17. Nothing to write home to Ma about but better than losing!
#SPXcampaign Closed on GTC orders:
$SPX Jan 26th 2605/2580 put spreads for .20. Sold for 1.45.
$SPX Jan 16th 2700/2675 put spreads for .30. Sold for 4.75.
#spxcampaign
STO SPX 23 FEB 18 2650/2550 BuPS @5.00
#Fuzzy I don’t see the point in trying to do a bunch of finagling to try to squeeze a little more juice out of this one before earnings on 2/06/18 so:
STC VRX Apr’18 +20c -20p +17p for 4.19, BTC Vrx Jan12’18 22.5 call for 1.33. After all is said and done cleared $2055 on the trade which I entered on 12/15/17. VRX has been kind to my account a couple times, I may hitch a ride again after earnings.
#earningstrade STZ
Starting to cooperate, almost back to 220
#ShortStrangles – Going straddle for Friday.
Rolled 370 put up to 400 @ 8.60 credit.
Now sitting at 400 Straddle @ 17.35
Breakeven from 382.65 to 417.35
good morning
Another up day in the market.
Missed the segment on TT this morning about utilities. Searched back through the forum here and see some of you guys have played it over the last year or two.
Looking like a nice possibility as a #SyntheticStock or a #Fuzzy. Probably low risk and slow moving for a long term play…
For example:
Jan 2020 52/52/50 Synthetic would only require selling about a nickel per week to cover max loss. Take the trade with a decent size and get a little bounce could be a nice winner.
STO WDC Jan 12 79/77 .17
#spxcampaign
$SPX STO 1/19 2715/2740 BUPS @ 5.80 Thank you @jeffcp66
#rolling
$DVN BTC 2/16 39 put STO 2/16 41 put at additional .43 credit
#shortputs
$CRZO STO 2/16 22.50 puts @ .95
Closed Early
$FB BTC 1/19/2018 BUPS @.10 STO 11/22 @ 1.85 94% of max profit
$TRU BTC 3/16 35 puts @ .05 STO @ 1.40
I wonder what the odds are for going another 11 months without a correction?
$SVXY Also sold Jan 19th 130 Puts @ 2.00 when SVXY was at 137.15. Some times I think I should just sell puts on SVXY and forget equities entirely.
Well I closed out my Jan 19th short 45 Put this morning with the sell off after the down grades last week. A 2.40 loss. I didn’t roll it as it looked to have more down side to go. I went off to work my set gig just before it started the day’s recovery. Now it is back up and I feel foolish for closing it out. I’m considering the Jan 26th 45 Puts for 2.25. Is this a revenge trade? Probably. Maybe I should walk away. I estimate earnings are early Feb.
#ShortPuts -Throwing this out there in an #IRA ….
Sold REGN APR 20 2018 300.0 Put @ 3.20
#ShortPuts -Throwing these out there in an #IRA ….
Sold XBI MAR 16 2018 83.0 Put @ 2.60
Sold XBI MAR 16 2018 80.0 Put @ 1.68
Sold XBI JUN 15 2018 75.0 Put @ 2.13
#SyntheticStock – Posted on this over the weekend so giving it a try as an experiment. Rolling synthetic core up 50 and front month call up 50 and receiving a 3.07 credit. I’ll wait until after earnings to see if any more adjustment is needed. Assuming the stock doesn’t blast off on earnings, this roll should make the weekly a little more rollable in the future.
Rolled AMZN JUN 21 2019 1050.0/1050.0 Synthetic Stock up to 1100.0 in same expiration @ 48.50 credit
Rolled AMZN JAN 19 2018 1010.0 Call to FEB 16 2018 1060.0 Call @ 45.43 debit
On the move down in biotech today, sold $BIIB Feb 16 300 put @ 3.60. Chart showing support at the 300 level. If there’s a bounce in the next couple of weeks I’ll get out early but if not I’ll likely hold through earnings on 1/25.
Options Bistro 