$DVN #ShortPuts – Bought to close DVN Jan 19 2018 29.0 Put @ 0.01.
Originally sold at 1.32 and again at 1.43 as #FallingKnife trades
Recent Updates Page 359
$SVXY #ShortPuts BTC 2 (split)…
$SVXY #ShortPuts
BTC 2 (split) Jan 19 37.50 puts @ 4.30 x 2 8.60, sold 1 (pre-split) Jan 19 70 put @ 14.56 on 4/10/17
STO 1 Jan 19 65 put @ 10.40 …hmm, how interesting “1040” on this day.
This was a personal best, keeping a trade for 8 months! Picked up a few bucks rolled to get a few more, plus a grand on margin, let’s see how long I can keep this one?!
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Feb 16 2018 60.0 Puts @ 1.14 with the stock at 128.74
One step left…
BREAKING: GOP tax bill passes the House; now moves to Senate for approval. https://t.co/9YCWBH5nvq pic.twitter.com/Ow51YV6SjK
— CNBC Now (@CNBCnow) December 19, 2017
$AMGN #ShortPuts – Bought to…
$AMGN #ShortPuts – Bought to close 1 AMGN Jan 19 2018 115.0 Put @ 0.01. Out a month early.
Sold in May at 1.36 as a #FallingKnife trade.
#spxexpectedmove btc on gtc @…
btc on gtc @ .70 (50%) condor 2715/2735 call-2620/2600 put DEC 22 sold Monday @1.50
per chart from expected moves on spx
might do again next Monday.
STMP’d out
#Earnings #LongStock Sold to close final batch of $STMP stock for 187.15.
This closes the trade started on Nov 2nd when I sold 200/180 put spreads for 4.15, x2 for max profit of 827.90, max loss of 3,172.10. Stock tanked and I rolled the spreads, got assigned early, and I’m finally out with ending profit of $327.56
SPX puts sold
#SPXcampaign Sold $SPX Jan 18th (monthly) 2610/2585 put spreads for 1.60.
#spycraft STO the other side…
STO the other side of the IC for Jan 5. Reversal triggered at lunch time (keep in mind not shorting, just a good place to leg into the IC as momentum finally stalled).
SPY 271.5/275 call spread at 0.28. Position now the 261/257 puts with the calls for 0.21 and 0.28 credits 5 contracts so only $2000 risk.
Could close the put side at profit already but will let the theta work on the IC for a few days/weeks, then roll to next cycle.
Will add a new one Thurs or Friday for Jan 12 expiration. Maybe 1 sided or maybe condor depending on the signals. I think going forward timing is going to be more important for options sellers so will be using the alphashark tools to try and stay on the right side of the market.
That’s all, 2 minute lunch day. Everyone trying to get into the office before the holiday or travelling!
SVXY
STO January 2019, 60 puts @ 9.20, this completes my ladder out to 2019 until we get a correction or much better prices.
$FCX #ShortPuts – Bought to…
$FCX #ShortPuts – Bought to close FCX Jan 19 2018 9.0 Puts @ 0.01. Out of these a month early too.
Sold in May at 0.57 as a #FallingKnife trade.
$AKAM #ShortPuts – Bought to…
$AKAM #ShortPuts – Bought to close AKAM Jan 19 2018 40.0 Puts @ 0.01. Out of these a month early too.
Sold in May at 1.22, 1.42, and 1.62 as #FallingKnife trades before dropping down to the 37.50 strike to continue selling.
$HAL #ShortPuts – Bought to…
$HAL #ShortPuts – Bought to close 1 HAL Jan 19 2018 37.0 Put @ 0.01. Out of this a month early.
Sold 07/24/2017 @ 1.15 as a #FallingKnife trade
$SVXY #Margin – Margin pressure…
$SVXY #Margin – Margin pressure is forcing me out of some positions today.
Bought to close SVXY Jan 100.0 Calls @ 30.10/29.80/29.50
Bought to close 1 SVXY Mar 100.0 Call @ 34.25
Bought to close SVXY Jan 10.5 Puts @ 0.01
SVXY
STO January 19, 66 puts @.67
Bought to close January 37.5 covered calls @91.00 to take a tax loss to offset my gains for this year. I intend to just keep the long position for a long long time.
CSX
STO CSX Dec29’17 55 calls @ 0.44
$NBL #CoveredCalls – Sold NBL…
$NBL #CoveredCalls – Sold NBL May 18 2018 30.0 Calls @ 0.85 with the stock at 26.52
Closed early SPX Campaign / Short Puts
$SPX BTC 12/20 2635/2660 BUPS @ .80 STO 12/8 @ 10.70 Thank you @jeffcp66
$HES BTC 1/19 35 put @ .05
$AKAM #ShortPuts – Bought to…
$AKAM #ShortPuts – Bought to close AKAM Jan 19 2018 37.5 Puts @0.01. Out a month early
Sold in May at 1.14 and again at 1.43 as a #FallingKnife trade.
12/18 Day Done
11. Added an RCL #Fuzzy Mar 125/125/115 for 3.59 and Dec 29 128 short calls for 1.00
12. Added CSX #Fuzzy May 52.5/52.5/46 for 2.24 and Dec 29 54 short calls for .60
13. Scratched the SPX #bitty in the #FuzzyBear account because this market is nuts and wanted to re-establish as much negative delta as I can
14. LMT #Fuzzy Closed it out! These are not meant to be day-traded, but I put it on at the low and quickly got $773 net profit (20%), so closed it to take off risk. A lot of slippage when these are day-traded.
15. 2 short /NQ for overnight
SPX trades
#SPXcampaign
Closed $SPX Jan 12th 2730/2755 call spreads for 3.50. Foolishly sold on Friday for 1.50.
#ReverseRoll Sold to Open Dec 20th 2690/2665 put spreads for 3.90
EDIT: was not filled on Jan 18th (monthly) 2600/2575 put spreads for 1.45
#ironcondor #jadelizard GILD Kind of…
#ironcondor #jadelizard GILD
Kind of following a jade lizard at TastyTrade, sold Jan. 19 73/78/79 jade lizard, added a 66 put, all for 1.03
VXXgame pre-spreading
#VXXGame Starting a new experiment today. With $UVXY at all-time lows again, I bought some far OTM calls for cheap. This should lessen the margin requirement to sell lower strike calls on the next vol spike. Since I have portfolio margin these positions should help me overall with carrying short volatility trades. I will add some more positions in the coming days/weeks if we continue to barrel higher.
Bought (10) March 91 calls for .15 each.
Bought (1) Jan 2019 75 call for 1.70.
Highest available strikes on each.
SVXY
#ShortPuts – Last of the cheapies gone…
Bought to Close SVXY JAN 19 2018 42.5 Put @ .25 (sold for 2.10)
CSX
Not going to be around much this week but CSX setting up for possible #Fuzzy …
BTC SWKS 18 DTE 104…
BTC SWKS 18 DTE 104 call at 0.5, sold for 0.95. Mostly to free up margin.
Now positions are all covered with LEAPs/stock so have time to sell weekly options without tapping into too much margin now, not intentional but will make lemonade from yellow snow.
So the SPY weekly trades will be called #spycraft
May add call side to leg into IC if we have a reversal. Momentum slowing but do not have an official signal yet. As soon as we do I will post. Looking at the 18 DTE 273/277 call spread although quotes at that level are not showing at the moment. The 273/275 currently 0.16.
Currently only have the 18 DTE put spread at 261/257 sold for 0.21. Currently trading for 0.12 so an option is to close at 50% profit. Personally, I am going to wait until reversal signal to add the call spread then close/roll the entire thing close to expiration.
12/18 trades
1. DHI (neutral/short skewed IC) needed a little defense, so rolled the short calls from 50 to 52. New upside break even is 53.10.
2. SPX stopped out of the qty 1 BECS 2755/2730, closed for 3.85
3. SPX #FuzzyBear BTC 2625 put hedge for .55 (sold at 3.00) for $2450 profit. STO Dec 27 2625 for .75. New net number: Total profit $5898, Debit basis: 33.50. Also added a Dec 26 #Bitty (in 2 accounts) 2680/2675 for .85 (not included in net numbers).
4. LMT new #Fuzzy on down bar today: Mar 320/320/310 for 6.13, sold Dec 22 322.5c for 1.14, already up nicely.
5. TXN #BUPS hit over 50% target for $470 profit
6. FLIR #ShortPuts hit over 50% target for $700 profit
7. RCL STO #BUPS Jan 123/120 for .73 cr
8. DWDP This is a fun one, I opened a #Fuzzy on this last week but delayed buying protection for a 1% up move, I had an order queued for the move and it hit today, so my protection is cheap cheap at .40 (mar 62.5p)
9. TWTR Rather than roll a DITM Fuzzy I closed the whole thing for $440 profit
10. FAS New #Fuzzy in 2 accounts, I really like the setup. Apr 70/70/60 for 2.08, Dec 22 71c for -.48
Rolling some #vxxgame hedges out…
Rolling some #vxxgame hedges out
Unbelievable that we’re here but here we are 🙂
With SVXY hovering around 130, I’m moving these short calls back out of the money for credits.
- Rolled $SVXY Mar 16 123 calls up and out to Jun 15 135 calls for 1.78 credit
- Rolled $SVXY Jun 15 122 calls up and out to Jan 18 2019 150 calls for 1.64 credit
NUGT call
#ContangoETFs Sold $NUGT Jan 2019 50 call for 4.10. This offsets the $DUST 50 call I sold for the same price a couple weeks ago. I’m building a NUGT ladder to match the one I have in DUST… short calls only on both.
SVXY
Sold to open, January 2019, 55 puts @7.55
#spxexpectedmove sto condor 2715/2735 call-2620/2600…
sto condor 2715/2735 call-2620/2600 put DEC 22 @1.50
experiment for expected move between today and this Friday.
Covered calls on TWTR
Nice move today.
Sold $TWTR Jan 26 24.50 calls @ 1.02 with the stock at 24.02. The IVs don’t increase until after the 1/26 expiration so I’ll assume earnings won’t be until early Feb.
These were sold against stock I was already long.
STMP stock sold
#Earnings #LongStock Sold half of my remaining shares of $STMP for 180.85. Cost basis is 182.35. I’ll hold my remaining 100 for a higher exit, so I can at least breakeven on this one.
$NUGT #CoveredCalls – Sold NUGT…
$NUGT #CoveredCalls – Sold NUGT Jan 19 2018 30.0 Calls @ 1.06 with the stock at 27.70
$UAA #CoveredCalls – Sold UAA…
$UAA #CoveredCalls – Sold UAA Dec 22 2017 15.5 Calls @ 0.40 with the stock at 15.64. These expire this Friday.
$UAA #ShortPuts – Bought to…
$UAA #ShortPuts – Bought to close UAA Jan 19 2018 15.0 Puts @ 0.60. The stock has had a nice run so I’m exiting early on this position.
Sold on 08/29/2017 @ 1.11
SPX puts closed, freight train barrels on
#SPXcampaign Closed on GTC order:
$SPX Jan 5th 2525/2500 put spreads for .20. Sold for 1.45.
Looks like I’ll be stopping my only short call spread: the Jan 12th 2730/2755 sold last week. Not sure when I can sell those safely again. We already hit my target for the 29th: 2690. That’s where I have an #IronButterfly centered. Reached the target only one day after selling it.
Good Morning all
Good Morning all
Econ Calendar for week of 12/18/17
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated.
Uncharted territory. Break out in…
Uncharted territory. Break out in Asian hours above previous long term elliott wave level, the red line. I suspect we push higher through the santa claus time then the big traders rip it down after the holidays, looking very bubble-ish but that is just my opinion. Lots of long term correlations breaking down so maybe some time soon we can look back and say that was “the top”.
ps, star wars movie is awesome, go see it before some one ruins the plot twist for you.
Results: I try to calculate…
Results: I try to calculate the results of my trading for the year, not only in money but also as a percentage. Easy if one didn’t add any funds to the accounts during the reporting period, but I did. How do you calculate in this case? I guess I wouldn’t bother if I added 10% or so, but I actually doubled in early October. That seems to mess everything up. Thanks for your opinions and/or suggestions.
Earnings this week – FedEx,…
Earnings this week – FedEx, MU, NKE,
VXXgame profits and danger
This is a VERY important article to read for any one doing #VXXGame trades. I first learned the game from @optioniceman in December 2012 and made great profits for two years. However, you do suffer through pain and possible margin calls on big volatility events. After white-knuckling October 2014, I scaled back and participate on a much lower scale now. My profits have been smaller as a result, as the trade has remained stronger than ever since that event.
Although I have long understood the basics of this article, I still learned some new perspective by reading this today. Check it out. Ask questions, start a discussion.
https://seekingalpha.com/article/4131144-next-big-short-potential-cause-market-decline?auth_param=bf3bv:1d386u2:98769c7c2dd6077dfe86fe528712f8a4&uprof=37
OptionsExpiration
$DWDP $71 #coveredcalls
$FB $170 puts
$QQQ $151.5/$146.5 bull put spreads
$SVXY $25 puts
$SVXY $70 puts
$SVXY $75 puts
$SVXY $80 puts
$SVXY $82.50 puts
$SVXY $85 puts
$SVXY $105/$100/$90 put Butterfly’s
$UVXY $20.5 calls
$UVXY $23 calls
$UVXY $31 calls
Other trades made today.
BTC $MSFT Dec 22 $81 puts @ $.03, (sold $.42)
BTC $SQ Dec 15 $38 puts @ $1.00, (sold $.50) chose not to get assigned, don’t like they way it is trading
STO $DWDP Dec 29 $70.5 calls @ $0.55, replacing expiring calls
Rolled $RCL #Coveredcalls from Dec 15 $123 to Dec 22 $124 for $0.05 credit, want to hold the stock a bit longer
Day job has been really consuming my time so have done very little trading.
Have a great weekend everyone.
Expiration for Dec 15
$CELG Dec 15 90 puts
$DUST Dec 15 35 calls
$FB Dec 15 170 puts
$GE Dec 15 24 calls (covered)
$ILMN Dec 15 160 puts
$IRBT Dec 15 60 puts
$LRCX Dec 15 175 puts
$LRCX Dec 15 210 calls
$NUGT1 Dec 15 16 calls (pre-split strike—sold prior to the last 1:4 reverse split)
$STX Dec 15 28 puts
$SVXY Dec 15 35 puts
$SVXY Dec 15 70 puts
$SVXY Dec 15 82.50 puts
$SVXY Dec 15 95 puts
$UVXY Dec 15 50 calls
$UVXY Dec 15 55 calls
$UVXY1 Dec 15 37 calls (pre-split strike—sold prior to the last 1:4 revers split)
$WHR Dec 15 145 puts
Assignments:
$KMI Dec 15 25 puts (will be going long stock)
Have a great weekend everyone. Volume should be really light for the next 2 weeks.
Expirations and Lesson Learned
Expired Full Profit
$SPX 2635/2660
$BIDU 210/220 BUPS
$COST 150/160 BUPS
$FB 160/170 BUPS
$GWW 175/185 BUPS
$SPX 2460/2485 BUPS
$AMZN 1060/1110 BUPS
$PVH 120/130 BUPS
$SQ 45 calls (covered)
$EXAS 60 calls (covered)
$NFLX 195 calls (covered)
$SVXY 40 put
$SWIR 20 put
$SVXY 25 put
$STX 36 put
$SVXY 85 put
$SVXY 75 put
$SVXY 90 put
Expired Full Loss
$SPX 2665/2686 BUCS I bought the monthlies which
expire in the AM while the weeklies (same date) expire
at days end thereby missing the 25 point increase in $SPX.
Another expensive lesson.
$SPX 2635/2660 BUPS Same problem These were AM expires.
I am going to get drunk.
Assigned
$SQ 38.5 put Basis 37.75
$MZOR 60 put Basis 58.20
Have a great weekend. Having the family over to decorate my tree.
Hope I can smile by then.
Expirations, have a nice weekend and hope for a 1% correction some day.
LRCX 175 put
AMZN 1060/1110 bull put spread
SVXY:
25 puts
30 puts
35 puts
37.5 puts
40 puts
55 puts
60 puts
70 puts
In my IRA: SVXY
37.5 puts and 50 puts
SPX final trades
#SPXcampaign Sold $SPX Dec 27th 2665/2640 put spreads for 4.60, as a #ReverseRoll from Dec 26th calls stopped earlier.
Closed Dec 22nd 2670/2695 call spreads for 11.60. Sold yesterday for 5.55.
#IBroll to Dec 29th 2665/2690/2690/2715 #IronButterfly. Shooting for ending the year at or near 2690, but either way I can roll as necessary.
No Expirations.
$VIAB #ShortPuts – Bought to…
$VIAB #ShortPuts – Bought to close VIAB Dec 15 2017 30.0 Puts @ 0.05 to avoid assignment tonight.
Sold in May @ 1.35
STMP
Is it finally getting off its ass?
$FOSL #ShortPuts – Bought to…
$FOSL #ShortPuts – Bought to close FOSL Dec 15 2017 7.0 Puts @ 0.30 with the stock at 6.71 to avoid assignment tonight.
Sold on 08/22/2017 @ 1.10
Also Bought to close FOSL Dec 15 2017 8.0 Puts @ 1.25 with the stock at 6.76. Sold @ 1.65
Closing Early
$SPX 12/22 BTC 2635/2660 BUPS @ 3.00 STO @ 8.70 on 12/11 Thank you @jeffcp66
$NVDA 12/15 BTC 170/185 BUPS @ .40 82% of max profit
$VEEV 12/15 BTC 55/60 BUPS @ 4.20 STO @ 1.26
$ADBE 12/22 BTC 182.50/177.50 BECS @ 41% max profit Thankk you @fuzzballl for the FFET
$SVXY #shortcalls Rolled my short…
$SVXY #shortcalls
Rolled my short Dec 15 $116 calls out to Jan 19 $120 for $1cr, and long Dec 22 $129 calls out to Jan 19 $145 for $1cr.
Also rolled covered Dec 15 calls out to Dec 29 $118 for 0.50db, still net gain $1.50 if exercised.
I split the number of contracts because I sold half the stock to cover a car purchase. This gives me time to repurchase the shares after exercised Dec 29. Hopefully the stock will correct shortly after.
SPX calls stopped
#SPXcampaign As per usual, whenever I’m forced to hedge against a big drop I end up getting slammed on the call side.
Stopped $SPX Sept 26th 2695/2720 call spreads for 4.45. Sold yesterday in the 2620/2645/2695/2720 #CondorRoll for 6.65. Fortunately the put side has made more than the calls lost today (put deltas were much higher than the calls when I sold it).
Haven’t decided how I’m rolling yet. Also have a call spread I sold yesterday, Dec 22nd 2670/2695 for 5.55, now at 10.65. Looking to close this one as well.
MYL TWTR
#SyntheticStock Roll MYL Dec15’17 39 calls to Dec29’17 39.5 calls for 0.06 credit
#Fuzzy BTC TWTR Dec15’17 22.5 calls @ 0.10, sold for 0.16 earlier in the week made the family some zaxby’s money. STO TWTR Dec22’17 23 calls for 0.27.
CELG
STO January 19, 115 calls @ 1.26, I will be assigned today on the 115 puts and my cost basis will be 112.73
ALK #FallingKnife #shortputs BTC 1…
ALK #FallingKnife #shortputs
BTC 1 $ALK April 18 2018 55 put @.65, STO Nov 11 55 put @ 2.02 taking 68% 126 DTE
Thanks @OptionIceman (I’m sure this will get richer but can’t hold as long…take tt better than 50%.)
12/15 Trades
MNST: STC tight debit spread, cutting it early. BTO @ .50 STC @ .65 for $150
MSFT: I’m always trying to build a stock portfolio w/ MSFT by selling #ShortPuts but I never get assignment. I saw a chance yesterday to sell 1DTE puts for .49, closed this morning for .02 for $470
AFL: Closed a January directional butterfly. When I opened the fly I thought “this is dumb, you’ll never get more than $100” Closed today for $170 profit
COT: Remember this spec trade? Based on upcoming 13f filings, it will go out at full loss -378.00. No more spec trades for me…time to remember my powerhouse trades and renew discipline for what works.
SPX Campaign: I happen to have an account with zero positions this morning, so starting a test of the #SPXCampaign process, I followed Jeff’s trade, but with a onesie. Jan 12 2730/2755 1.50 cr
#Bitties: Had 3 SPX bitties close for 30 contracts, total $1200 profit. One of them (already accounted for in the #FuzzyBear post) was only on for a day, I used the AS-BB indicator for timing placement. I’m currently out of index bitties, would like to see a new oscillator low before placing new ones.
Green open positions: ABBV, ADS, CELG, FLIR, IWM, JPM, LMT, MSFT, NTNX, SPY, TWTR, TXN
Red open positions: AOBC, DHI, DWDP, LKQ, MU, NUE, QQQ, SHAK, ULTA
I have very high cash balances right now, only small % is at work.
I’m probably done trading today, got to do the dreaded post office run. Our post office here is like a 3rd world country. 200 people in line and one person working. I hope everyone has a restful safe weekend. Me? I love a good whiskey in front of the fire on Friday afternoons.
SPY
What do we want to calls these? Mini SPX campaign or just SPY campaign. Can create a hashtag.
So I saw the reversal before I went to bed but was too busy in the office to open early. So just sold 5 contracts of the 21 DTE 261/257 put spread for 0.22. Now will wait on reversal at the top to add the call side.
To keep everything true, starting balance exactly $7140 on 12-15-2017. Each week add new trade until there is a 3-4 week running ladder of credit spreads and IC but will take a slightly directional bias using the alphashark tools and will use /es signals instead of spy because of night time trading. Credit of 105 – 4.95 for commissions so just say $100. Goal is $140 or so per week for a double. Every $2000 increase will add another contract for compounding.
Goal is at least a double on this account for 1 year.
Also rolled WDC 35 DTE 90 out to 42 DTE for 0.43 credit.
Back to work for me, getting in the way of trading!
#coveredcalls ORCL Following Tradewise, bought…
#coveredcalls ORCL
Following Tradewise, bought 100 shares and sold a Jan. 18, 2019 50 call, stock is at 48, down a little over 2 after earnings. Their method seems to be to get in after a drop and just prior to dividends, and roll many times.
VRX
Got back into VRX, maybe it settled down a little. Bought VRX Apr’18 +20calls -20puts +17puts for 1.29. Sold VRX Dec22’17 21.5 calls for 0.28.
SPX hedge in March
#RocketManHedge – Moving from Monday out and up to next Friday. New sale is aggressive at the same strike as my synthetic short…
Bought to Close SPX DEC 18 2017 2650.0 Put @ .85 (sold for 5.40)
Sold SPX DEC 22 2017 2670.0 Put @ 9.20
SPX trades
#SPXcampaign Closed my long call spread that expires today.
First, I closed the short 2685 calls for .10. These can cause problems closing a spread that’s expiring on the same day. If they are too far OTM they won’t carry a bid in the afternoon, so I cleared them away so I could deal only with long 2665 calls.
Closed $SPX Dec 15th 2665 calls for 3.50 and 3.70. Bought the spread for 3.00.
Then, the SPX took off, so I closed the rest at 7.70. What a difference 10 minutes makes!
Also:
Sold $SPX Jan 12th 2730/2755 call spreads for 1.50. Had not sold any calls this week, anticipating the Upside Warning. But since it hasn’t come I’m dipping my toe back into call credit spreads.
Closed on GTC order:
Dec 29th 2540/2515 put spreads for .20. Sold for 1.45 in last week of Nov
ADBE fat finger
#Earnings – This would’ve been almost a perfect position…..IF I would’ve sold the correct week. Oops…sold next week instead. A mistake but a small winner! Get ’em next time.
Bought to Close ADBE DEC 22 2017 172.5/177.5/182.5 Iron Fly @ 3.50 (sold for 4.10)
Fuzzy Rolls
LMT #Fuzzy from just 8 days ago was up over $2,000 net today. Rather than roll, I decided to close it all and look for a new opp to reset.
CELG I rolled yesterday locking in $750 for the week and selling another 1.00 for next week, my “Stage One” net debit is now only $0.63.
JPM I rolled on Wed before FOMC locking in $550 for the week and selling .95 for next week. My “Stage One” net debit is now only $1.04
NUE got hit with some bad news this week on guidance, took the stock down yesterday but just beyond the synthetic level. Premium is slow to come out of the short calls today, in latter half of the day I will place new position for next week and just let this week expire. That will bring in $560 for the week.
IWM: Opened yesterday, no roll today
TWTR: Up nicely, but no roll for this week
SPX: #FuzzyBear Rolled earlier this week. I have realized income of $7100 on this in just 8 days. Stage One has gone from $40 to $30. Much more to go! Like @fuzzballl said earlier this week…just keep chipping away at it.
I’m looking at #Fuzzy debit recovery in two stages, Stage One is the trade debit recovery, then Stage Two is the spread risk recovery.
EWZ
STO EWZ Dec22’17 39.5 calls @ 0.18
2017 tax, what is the…
2017 tax, what is the best strategy in handling losses. For example if someone lost $20,000.00 on UVXY, should he/she sell UVXY calls for 2018 before the end of 2017 compensating the losses?
25 Stocks Moving In Friday's…
SPY @jeffcp66 style for small…
SPY @jeffcp66 style for small accounts.
Finally cleared out the trades from the small account and can start the SPY experiment. Credit spreads and iron condors with the goal of doubling the account in a year. Only $7100 so works out to needing to bring in about $140 and change per week and control losses.
Here’s the plan. Sell weekly SPY credit spreads or iron condors. Probably leg into them using my charting tools. Short call/put at 16 delta 21-28 DTE, long call/put 3-5 points higher/lower. Only 3-5 contracts given the size of the account. Each week add a new spread. As the expiring ones lose value close or roll them or if really looks like it will finish OTM then let expire.
Anything gets in trouble will try to roll like @jeffcp66, back ratio if there is enough time left, or convert to short term diagonal/calendar if needed by buying an option 1-2 months out. Other option is just set a stop loss, short goes ITM close at twice what took in and close/scratch it.
Looking at 21 DTE in am at 259/255 put spread and 270/274 call spread for 0.25-0.26 each side. 5 contracts brings in $255 with max risk of $2000. Will see where we open, if we bounce just open put side, if down overnight call side. Then add other side at next reversal.
By 12/29 should be close to max profit and ready to roll. See below.
$HES Falling Knife
Got filled on this earlier but didn’t see until now.
Sold $HES May 18 2018 35 puts @ 1.10 with the stock at 42.41.
#Market $SPX down 10.82 and…
#Market
$SPX down 10.82 and $UVXY just doesn’t care
Getting Back on The SPX Campaign Horse
#spxcampaign
$SPX STO 12/22 2685/2660 BECS @ 7.80 Thank you @jeffcp66
EXAS Put Roll
$EXAS BTC 12/15 55 put @ 3.30 STO 12/29 55.50 put @ 4.06
ADBE
#Earnings – Risk 90 to make 410. Going slightly bullish due to lack of dollar wide strikes. 5 wide with a 6.70 expected move.
Sold ADBE DEC 22 2017 172.5/177.5/182.5 Iron Fly @ 4.10
$RCL
#Coveredcalls STO Dec 29 $125 calls @ $0.80, BTC Dec 15 $128 calls @ $0.02
Options Bistro 