#OptionsExpiration #Weeklys #Dec22 – very little this week.
— Expirations —
NUGT (Weekly) Dec 22 2017 22.5 Puts
NUGT (Weekly) Dec 22 2017 23 Puts
SVXY (Weekly) Dec 22 2017 65 Puts
SVXY (Weekly) Dec 22 2017 70 Puts
SVXY (Weekly) Dec 22 2017 75 Puts
UVXY (Weekly) Dec 22 2017 10.5 Calls (Covered)
UVXY (Weekly) Dec 22 2017 11 Calls (Covered)
Full Profit
$NKE 70/65 BECS
$SVXY 75 put Thanks @optioniceman
$SVXY 70 put Thanks @jsd501
$HES 45.5 put
Full Loss
$FB 185 long call
Merry Christmas to all and to all Family Fun Filled Festivities (Alliteration Abounds – zounds)
$UAA #CoveredCalls #Rollout – Bought to close UAA Dec 22 2017 15.5 Calls/Sold UAA Jan 5 2018 15.5 Calls @ 0.38 Credit with the stock at 15.52 to avoid assignment this year.
$SVXY #ShortCalls #Rollout – Rolling some January ITM positions to June –
Bought to close SVXY Jan 19 2018 120.0 Calls/Sold SVXY Jun 15 2018 155.0 Calls for a 0.10 Credit with the stock at 128.23.
Got a bit of margin relief on the roll.
$SVXY #ShortPuts – Sold Feb 16 2018 60.0 Puts @ 1.24 with the stock at 129.30
Expirations:
AMZN 990/1040 bull put spread
SVXY 60 puts
SVXY 65 puts
SVXY 70 puts
SVXY 75 put
Thankyou for all the great ideas this past year #syntheticstock #spycraft #fuzzies #vxxgame wishing everyone on here Happy Holidays. A special thankyou to @jeffcp66 for maintaining the best trading community out there IMO.
I closed out my trade in MYL, the stock ran up through my short calls so I’m TTMAR. STC MYL JAN17’20 +40C-40P+35P and BTC MYL Dec29’17 39.5 calls. Net profit of 0.56.
Merry Christmas and Happy New year, to each of you, enjoy this season warmly with friends and family.
Be safe.
Thanks Jeff for Options Bistro.
STO Jan 12 261/257 and 271.5/275 IC for 0.19 and 0.29. Week 2 of the ladder. For others following, last week is showing a $130 profit, about what I had targeted weekly. You can either take it off or leave it for the long weekend decay. I am leaving on and will probably roll it next week.
Also rolled GILD Jan 5 76 put to feb 2 for 0.92 credit. Sold at 2.85 as previous roll/
Rolled SWKS Jan 5 102 put to Jan 19 for 1.0 credit. Sold for 4.75 off previous roll.
Rolled SVXY expiring tomorrow out to Feb 16 for 4.52-4.54credit. Sold for 2.58.
Rolled TQQQ 120 today to Jan. 26 for 1.2 credit. Sold for 2.23
Assigned early on EEM Jan 19 40 CC, weird I did not get an email confirmation, was just checking accounts and noticed they were gone. Small IRA so sold a Jan 19 SVXY 50 put at 6.55.
Merry Christmas and Happy New year (or Hanakuh) to all my trading friends at the bistro and thanks for all the ideas! Best trading year ever and I suspect next year will be even better as we all figure out the best ways to trade together.
Merry Christmas and a Happy, Healthy New Year to all
Once again Jeff, thank you for creating “Option Bistro” and all you do maintaining the site
Happy & Healthy Holiday season to all.
Fellows, Merry Christmas all & a Happy New Year !
To each and every one of the wonderful traders at Jeff’s Bistro. Thank you for a year of fellowship and profit and sharing. A wonderful place to be. Best to you and your families in 2018 and beyond.
Closed Early (but not early enough ;-)) In this case the parenthesis need not match. One is a smile!
$SPX BTC 12/22 2685/2660 BECS @ 20.40 STO @ 7.80
#longcalls
$TRN BTO 1/19/2018 37 call @ 1.15
#Short Puts
$AAPL STO 1/12/2018 165/175 BUPS @ 2.00
#spxcampaign
Joining @jeffcp66
$SPX STO 2545/2670 BUPS @ 3.40
STO January 19, 1030/1080 pull put spread @1.45
#SPXcampaign Replacing the Dec 26th spread I closed this morning:
Sold $SPX Jan 3rd 2670/2645 put spreads for 3.40.
Merry Christmas all & a Happy New Year!
I’m done for the day and heading to the other job shortly. Duty calls…plane load wanting to go JFK out to Vail Colorado today. Wish I could stay and ski but it’ll be a short night and back at it tomorrow.
Have a great weekend and a great Christmas!!
#ShortStrangles – Been selling these against Jan 197.5 puts. Killing time until earnings gets here.
Rolled NVDA DEC 22 2017 192.5 Call to DEC 29 2017 195.0 Call @ 1.02 credit.
#LongStock #CoveredCallCampaign
Bought to close $FB Dec 29th 182.5 call for .15. Sold for 1.60.
100 shares purchased for 126.00
Sold covered calls starting late April. Covered call total income: $1,400. Cost basis on stock 112.00.
#ShortStrangles and #PerpetualRollingStrangles – Still selling against Jan 140 strike DITM calls. I may take stock closer to Jan expiration but still just premium collecting for now.
Rolled WYNN DEC 22 2017 170.0 Puts to JAN 5 2018 170.0 Puts @ 1.75 credit
Total credit on these now up to 8.60 and total credit sold against the calls now up to 26.80. The goal will be to get a nice roll up of the calls into earnings with another nice put sale to go along with it. Could close the whole thing for a scratch but trying to keep most of it as the calls get rolled up.
#LongPutDiagonals #VXXGame These trades were all put on late August or early September.
$UVXY Jan 2019 long 30 puts, bought for 19.10, now 24.02
$UVXY Jan 2019 30/40 call credit spreads, sold for 1.96, now .70
$VXX Jan 2019 long 20 puts, bought for 1.77 (avg price), now 4.20
$VXX Jan 2019 50/60 call credit spreads, sold for 2.21, now 1.00
(yesterday, closed one call spread for .90)
The “diagonal” portion of these trades is currently dormant, as selling puts in these was a folly in recent months. I have not calculated total losses from the attempt, but it did take a bite out of the above profits. I anticipate scaling out of these trades starting sometime in the summer.
I also bought these cold on Sept 5th… wish I had more:
VXX June 2018 25 put, bought for 1.33, now 4.17
VXX Jan 2019 25 put, bought for 3.46, now 7.18
VXX Jan 2019 15 puts, bought for .61, now 1.83.
Look for the next volatility spike and reverse splits to get long 2020 LEAP puts.
#SyntheticStock – Looks like it’s sell Bitcoin and buy gold now…LOL. Rolling up and out a little with the break above the 200ma.
Rolled GLD DEC 22 2017 120.0 Calls to FEB 2 2018 122.0 Calls @ .25 credit
#SPXcampaign Sold to Open $SPX Jan 18th (monthly) 2620/2595 put spreads for 1.60.
In anticipation of an Upside Warning:
Bought to open $SPX Dec 29th 2700/2725 LONG call spreads for 2.50.
#RocketManHedge – Final sale on the Jan hedge. Going out to where the short 2570 position is and selling just under it locking in the gains. Could be more though with a pullback below 2575.
Sold to Open SPX JAN 19 2018 2565.0 Put @ 3.60
Max loss was 50 points with total premium received of 56.30…
#SPXcampaign Closed $SPX Dec 26th 2680/2655 put spreads for 2.50. Sold for 5.65 on Wednesday. Since this expires on the next trading day, I’m taking off risk since it’s close to ATM. Don’t want to get slammed with this if we open with a pullback on Tuesday.
Hope everyone has a great and terrific Holiday the Next few days..I hope you all have a prosperous and happy New Year…
Cheers,
The Wiz..
#Earnings #ReverseRolling – Glad to be out of this at even. Originally was an earnings strangle that took some heat. Rolled the threatened side out to a strangle a few weeks ago. Needed to get out at .30 or less for breakeven.
Bought to Close STMP DEC 29 2017 160.0/195.0 Strangle @ .20
$NKE #ShortPuts – Bought to close NKE Jan 19 2018 45.0 Puts @ 0.01
Originally sold in May at 1.12 as a #FallingKnife trade.
#SyntheticStock STO MGM Jan5’18 34.5 calls @0.24
#ShortStrangles – Booking it and looking to re-center and re-sell just before earnings.
Bought to Close LRCX JAN 12 2018 160.0/200.0 Strangle @ 1.03 (sold for 4.30)
#ShortStrangles – Booking it and looking to re-center and re-sell just before earnings.
Bought to Close NTES JAN 5 2018 315.0/425.0 Strangle @ 1.20 (sold for 5.50)
#SyntheticStock STO EWZ Dec29’17 40 calls @ 0.27
#Fuzzy STO VRX Dec29’17 22.5 calls @ 0.27
#ShortStrangles – Taking another one off at close to min….
Bought to Close EWZ JAN 5 2018 37.0/43.0 Strangles @ .11 (sold for .82)
STO January 12, 1050/1100 bull put spread @1.40
$ESV #CoveredCalls – Sold ESV Jun 15 2018 7.0 Calls @ 0.40 with the stock at 5.41
#ShortPuts BTC Jan 19 40 put @ 2.03, STO Dec 6 @ 4.40 taking 54%.
@jeffcp66 Killer graphics! Love Santa rolling into LAS with the ’55 Austin Healy 3000 Mk III full of presents pass them out quickly, don’t gamble or you’ll find yourself going home in a Greyhound…bus, that is…ha!
P.S. Buy yourself that gift yet? Checkout WyzeLabs WyzeCam $20 internet capable. Ciao.
edit: WiFi that is
STO June 130 puts @2.05 with the stock trading at 185
$DO #ShortPuts – Bought to close DO Jan 19 2018 10.0 Puts @ 0.01.
Sold in May at 0.70 as a #FallingKnife trade.
$DUST #CoveredCalls #Rollup – My last roll for this year on this stock.
Bought to close DUST Dec 22 2017 29.5 Calls/Sold DUST Jan 12 2018 30.0 Calls @ 0.25 Credit.
Added a half a point to my strike price while going out 3 weeks.
#SyntheticStock – Looking like #Earnings on Feb 2nd so rolling there. With the help of the higher IV getting another 2 bucks of upside for a small debit. After they announce will have to see what to do then.
Rolled AAPL JAN 19 2018 165.0 Calls to FEB 2 2018 167.5 Calls @ .41 debit
Using some of my front month premium sales to pay the debit. Still have 1.86 in the bank for future rolls.
#SPXcampaign Stepping cautiously, once again, into short call spreads. Feels like we may end the year more in consolidation than rally.
Sold $SPX Jan 12th 2740/2765 call spreads for 1.50
Sold $SPX Jan 18th (monthly) 2750/2775 call spreads for 1.60.
Also, closed on GTC order:
SPX Dec 26th 2645/2620 put spreads for .25. Sold for 4.70.
#RocketManHedge – This should get us the pullback we need… #TakeOneForTheTeam … since my ITM SVXY put spreads aren’t helping let’s try something new. Selling against my March hedge.
Bought to Close SPX DEC 22 2017 2670.0 Put @ .95 (sold for 9.20)
Sold SPX DEC 29 2017 2695.0 Put @ 12.10
EDIT…ITM SVXY put spreads…
#RocketManHedge – This was sold against my Jan hedge. Max loss more than covered now. Waiting on some weakness for one last sale…
Bought to Close SPX DEC 22 2017 2640.0 Put @ .20 (sold for 3.70)
#ShortStrangles – Bought to Close AVGO DEC 29 2017 250.0/290.0 Strangle @ .30 (sold for 3.10)
$CAT BTC 1/19/2018 125/135 BUPS @ 88% profit
$SVXY BTC 1/19/2018 27.50 put @.05 STO 2/28 @ 2.20
$MU BTC 12/22/2017 42 puts @ .02 STO 12/14 @ 1.70
#SPXcampaign Closed on GTC order: $SPX Dec 22nd 2660/2635 put spreads for .40. Sold for 8.00 last week.
Here’s why I try to watch “fund flow” very carefully (but not nearly focused enough, I miss a ton on my real time feed)–Fund Flow is defined by large option orders (read by me to be speculation orders vs hedge orders). I was just noticing in my chart scans this morning that ULTA is showing technical strength and is in a squeeze. I decided to check recent option activity. This trade occurred last Friday as an opening trade (these are single orders, not aggregate):
BTO 1800 contracts Jan 230 calls @ 3.45
STO 3600 contracts Jan 240 calls @ 1.25
(bull call ratio spread)
On Friday the stock closed at 218.25
Yesterday the stock closed at 226.00
Those Jan 230 calls are now 5.4 mid. The 230’s are up $360,000 in 6 days.
#SyntheticStock – Here’s the details on the early assignment long stock roll to synthetic trade repair…
Sold ADSK JAN 18 2019 105.0 Puts @ 13.78
Bought ADSK JAN 18 2019 105.0 Calls @ 16.01
Bought ADSK JAN 18 2019 100.0 Puts @ 11.36
This gives a net debit of 13.59 for the Jan 2019 position. Add the 5 point max downside and get a max loss possibility of 18.59. Add the loss of 9.62 from the rolled position and max risk jumps to 28.21.
Based on that, and the 56 weeks remaining in the trade I need to average about 50 cents per week in sales to cover the absolute worst case scenario. I’m currently using an equal size trade as the previous one but considering doubling the size to possibly sell more conservative weeklies and/or get back to even sooner.
So:
Sold ADSK DEC 29 2017 107.0 Calls @ .79
BTC EWZ Dec22’17 39.5 calls for 0.07, STO was 0.17.
BTC MGM Dec22’17 33.5 calls for 0.10, STO was 0.22.
BTC VRX Dec22’17 21.5 calls for 0.15, STO was 0.28.
Closed all these out early as I have to work next couple of days (and all were green but could have easily turned red before Friday) I am waiting to sell for next week.
I have 28 orders today, so I’ll sort through highlights. Also there were orders yesterday that I didn’t recap so if you were tracking a particular position and it disappeared don’t hesitate to ask.
1. My best trade of the day was scalping TSLA based on #UOA. I caught a big Jan 345 opening order for 3820 contracts so I quick bought a #BUCS and some shares and netted $1440 before going flat.
2. RCL needed a little #defense on a #BUPS, break even not yet breached, which is the best time for defense. I have on a Jan 123/120 credit spread x 10, so I butterflied it by selling more 123 and buying 126, x 4. By doing it early I only need 4 contracts to do the following: 1. cut long deltas in half (from 142 to 72), 2. move BE from 122.27 to 121.68, 3. raise max loss from $2,227 to $1,678, 4. Increase max profit
3. Bought NTNX shares at 35.25 and 34.75, I have 800 shares now
4. FAS Fuzzy roll to next week
5. MSFT #ShortPut scalps for this week the 85’s and 85.5’s, flat now for $370
6. MU new #Fuzzy Apr 46/46/41 with Dec 29 47 short calls
7. Caught some LOW UOA…when a fund buys expensive calls at an underlying high it’s a powerful trade, so followed along buying some Jan 92 calls at 1.52.
8. CELG rolled Fuzzy calls to next week
Fuzzies that still need managed this week: DWDP, JPM,
TT research, managing at 50% still looks like the best ROC. Recent in last 2 weeks.
https://www.tastytrade.com/tt/shows/market-measures/episodes/strangle-targets-return-on-capital-impacts-12-15-2017
SPX #BullPutSpreads #spxstrategy
STO 4 Jan 19 2545/2565 BuPS @ .75 when index at 2679.18
Thanks @walter6871
#ContangoETFs Sold $NUGT Jan 19th 30 call for 1.30
Sold $NUGT June 40 call
These are the same call strikes I’m already holding in $DUST, so they are margin free.
$GE #ShortPuts #Speculation – Sold GE Jan 26 2018 17.5 Puts @ 0.63 as the stock was hitting a new low for the year at 17.45 this morning.
Tax loss selling may be pressuring the stock and that will ease after the new year.
#SPXcampaign Sold to Open $SPX Dec 26th 2680/2655 put spreads for 5.65.
#PerpetualRollingStrangles – Missed out a couple days ago on covering my short puts that I’ve been rolling forever. Could’ve booked them at nearly 80 percent of max. Got greedy and held. Of course now TLT is tanking so it’s back to rolling along inverted until one side gets taken out. Either way, should still be close to 150 percent gain on margin for the year.
Yesterday:
Rolled 130 puts to Feb for .51 credit
Rolled 127 puts to Jan for .42 credit
#ShortStrangles – Assigned early on some ITM puts. To reduce margin and downside risk I’ve covered the entire position and rolled it into Jan 2019 #SyntheticStock . Stock is really weak and I doubt if covered call writing will keep up if it really implodes. This buys some time and makes for a much more relaxed (and safer) way to evenyually turn this into a winner. I’ll post the whole thing later but long story short…will only require selling about 35 cents a week to cover worse case scenario.
#CoveredCalls – Assigned early on Jan monthly puts…I’ve got a stop on next weeks short calls @ 25 percent of max so selling the next round a little early.
Sold SWKS JAN 5 2018 98.0 Calls @ 1.25
#SPXcampaign Should have gone with my instincts and exited all of this at the open. But man, that drop was fast. Now I most likely exited all of these near the bottom.
Closed $SPX Dec 20th 2690/2665 put spreads for 12.55. Sold for 3.90 on Monday.
Sold $SPX Jan 12th 2750/2775 LONG call spreads for .60. Bought for .45 last week. Sold half of this. Keeping the other half to either profit higher or expire worthless.
Sold $SPX Dec 22nd 2700/2725 LONG call spreads for .75. Bought yesterday for 1.50.
What a crappy way to start the day.
$SJM #ShortPuts – Bought to close 1 SJM Jan 19 2018 95.0 Put @ 0.05. It won’t trade any lower and it doesn’t expire for another month.
Originally sold on 8/28/17 at 1.65 as a #FallingKnife trade.
I still have Jan 100’s and Apr 90’s to cover.
right at bell yesterday in 2 accounts
Jan 19 2018 sto 2545/2565 put @.75
plan is to buy back at 50%,and set up a ladder of 4 in a month.
will let theta do its thing,
#TradeSchool I’m sitting on the short $SPX Dec 20th 2690/2665 put spread expiring today. Nice open followed by steep dive. Spread went from around 3.00 at open to over 9.00. That’s the peril you face sitting on ATM spreads expiring same day. So I was facing a loss, watching the charts. If it wasn’t for the TICKs, I probably would have exited at the lows. While the SPX consolidated flat-on-day, it looked like it wanted to break lower. But the TICKs, which I always have on my screens right next to SPX, showed a bottoming and then steady trend higher. So I felt comfortable waiting for the TICK trend to break before exiting, but it didn’t break and the SPX eventually lifted. Not sure how high we’ll get, but at least I didn’t panic exit at lows.
$HP #ShortPuts – Bought to close 1 HP Jan 19 2018 42.5 Put @ 0.03. It actually filled below the 0.05 minimum price and doesn’t expire for another month.
Originally sold in May at 1.35 as a #FallingKnife trade.
$FLS #ShortPuts – Bought to close FLS Jan 19 2018 35.0 Puts @ 0.05. It won’t trade any lower.
Originally sold in August at 1.40 as a #FallingKnife Trade
BTC December 26, 2380/2480 bull put spread @ .05, sold @ 1.30
I could have let it expire but it frees up a lot of margin by covering it.
#VXXGame Yesterday, closed $SVXY March 125 call for 17.25. Sold for 9.70 on Nov 21st.
Yesterday, sold Feb 90 put for 3.17.
This morning, sold June 150 call for 14.95
$VIX – 8.90 on the $VIX WOW!
#VIXIndicator, like last week, we got two consecutive closes below the 78.6% line, but then are denied the third. So no Upside Warning. Maybe this market wants to top out.
#spxcampaign
$SPX STO 1/19/2018 2585/2610 BUPS @ 1.65
$SPX STO 1/19/2018 2575/2600 BUPS @ 1.30
$SPX STO 12/20 2665/2690 BUPS @ 3.30
#shortputs
$SVXY STO 1/18/2019 55 put @ 7.80 Thank you @jsd501
$RCL STO 1/19/2018 120/123 BUPS @ .73 Tank you @smasty160
$EGBN STO 1/19/2018 55 put @ 1.00 Thanks @honkhonk81
#longcalls
$EGBN BTO 1/19/2018 55 call @ 5.30 Thank you @honkhonk81
Right now I have on 12 #Fuzzies and the total amount of hedge/income premium that is sold and pending collection is $11,480 (spread mostly between this week and next week). Here’s why I love Bull Fuzzies:
–Less risk than a covered call (due to protection)
–Way less buying power than a covered call
–Same benefits of a covered call (except dividends)
–Positive Vega/Positive Theta (a covered call doesn’t have positive Vega)
–Better design than many diagonals I see
–When opened using 90-120 DTE but closed before 45DTE I should be able to maintain a really good chunk of the protective put value that would be exposed to theta decay
I know you know all this. Here’s where it gets interesting, and where I expect to now become your “Fade Muse”
i closed the #fuzzybear today. for a decent loss. Listen I hated this trade. I timed it all wrong. I put it on at the bottom of a swing vs. the top. I sized it too big for SPX. I made it a Feb trade so big theta decay was going to start soon on the long put. I’ve realized I like fuzzy setups (long or short) that cover the trade debit in 4 weeks or less, and SPX doesn’t do that. I’ve been battling it for this whole up move. Hedges can’t keep up with it. It’s beyond effective hedge range now. I ran every scenario and I just didn’t see a way out short of a big market crash, all the while theta was burning away. I was running scenarios in my head at night for saving the trade. I’ve been watching this week for a VIX upside warning to hit today (it didn’t). I can see some liquidation breaks hitting the market, but drivers are too strong for a big hit I think. Of course anything can happen, but I don’t want big (BIG) bets on market crashes in my portfolio. Today’s dip gave me the opp I needed to wipe it clean and wait for a better setup in the future.
Paid my 4Q taxes today, so just took the hit on it today. When all the laundry was washed and dried and put away it was exactly a $14K hit (net of premium collected). Luckily all the other fuzzies have been financing that so my account balance has been running in place.
We all love SVXY and UVXY, but have you ever wonder how it worked? Ok, fair enough, then here is some bedtime reading…a real snoozer! https://sixfigureinvesting.com/2016/08/how-does-svxy-work/
#SPXcampaign Picked up a quickie long play for a potential pop tomorrow due to tax bill. Mind you, I think we could see a “sell the news” dump, but I lean toward a rally thanks to the holidays.
Bought $SPX Dec 22nd 2700/2720 call spreads for 1.50.
Options Bistro 