Hope you all had a great Friday. @fuzzballl, as it turns out, there was beer in the boat but definitely no shade. Here in Iowa, we actually had the warmest day of the year here on Friday, go figure. July and August were below normal, I think Jeff was keeping all the heat out west.
Very low on open positions, this is all I had expire this week.
$UVXY $25 calls
$UVXY $91 calls
#optionsexpiration
Full Profit
$TSLA 320/330 BUPS
$SPX 2305/2330 BUPS
$AAOI 55 puts
$SPX 2480/2505 BUPS @ 20% profit
$SPX 2510/2525 BUCS @ full loss. Opened earlier this week and did not take a quick 30% profit on Wednesday. When will I learn to take profits? (rhetorical)
Closed Early
$SPX 9/29 2475/2500 BUPS BTC 9/21@ 1.80 STO 9/18 @ 3.60 If I waited this one out it would have been more profitable. Running scared.
#shortputs
$MZOR STO 10/20 45 put @1.25
#longput
$TSLA BTO 10/20 365 put @ 12
#assignment
$SYMC 34 puts Basis 33.5 Anti Equifax Trade Not Working Well
Thanks to everyone on this site with a special shout out to the indomitable @jeffcp66
Have a great weekend.
$AZO #ShortPuts – Bought to close 1 AZO OCT 20 2017 350.0 Put @ 0.05. It won’t trade any lower, has a high margin requirement, and still has 4 weeks to expiration.
Originally sold on 07/06/2017 at 2.60.
#OptionsExpiration #Weeklys #Sep22 – a light week this week, and a light week next week as well.
Added a bit to my long $DUST stock position and exited the last of my $TRIP stock.
— Expirations —
AZO (Weekly) Sep 22 2017 660 Calls
DUST (Weekly) Sep 22 2017 20 Puts
DUST (Weekly) Sep 22 2017 25 Calls (Covered)
SVXY (Weekly) Sep 22 2017 30 Puts
SVXY (Weekly) Sep 22 2017 35 Puts
SVXY (Weekly) Sep 22 2017 40 Puts
SVXY (Weekly) Sep 22 2017 55 Puts
SVXY (Weekly) Sep 22 2017 60 Puts
SVXY (Weekly) Sep 22 2017 72 Puts
SVXY (Weekly) Sep 22 2017 90 Calls (Covered)
UVXY (Weekly) Sep 22 2017 55 Calls
UVXY (Weekly) Sep 22 2017 64 Calls
— Assignments —
DUST (Weekly) Sep 22 2017 31 Puts
DUST (Weekly) Sep 22 2017 34 Puts
TRIP (Weekly) Sep 22 2017 40 Calls (Covered)
$SVXY #ShortCalls – 10 minutes after the close, covered a couple of calls for gains.
Bought to close SVXY Sep 22 2017 88.0 Calls @ 0.97 – Sold at 1.05 this week
Bought to close SVXY Sep 22 2017 89.0 Calls @ 0.20 – Sold at 1.06 this week.
$AAOI Sep 22 62 puts
$SVXY Sep 22 40 puts
$SVXY Sep 22 50 puts
No assignments.
#SPXcampaign
#RiskReversal Bought to Open $SPX Sep 29th 2515/2530 call spreads for 2.00
Sold to Open SPX Sep 27th 2490/2465 put spreads for 2.00
Closed Sep 29th 2480/2505 call spreads for 17.15. Sold for 17.45 last Friday.
#ITMroll Sold Oct 6th 2485/2510 call spreads for 16.50.
Sold Oct 6th 2475/2450 put spreads for 2.60.
Closed on GTC order: Oct 6th 2365/2340 put spreads for .25. Sold in a #CondorRoll for 3.18 on Aug 31st
Sold Oct 19th 2545/2570 call spreads for 1.70. Standard spread sold just before the week closes.
No expirations tonight!
#ShortPuts Rolled Sept 29th 65 Put out and up to Oct 20th 75 Put for 2.35 credit. This is a single contract in my Roth and the highest strike in my Oct ladder so I’m comfortable with raising the strike.
#VIXIndicator We are heading into an upside warning with a third consecutive close below 9.96. This signal rarely is false.; while recent Downside warnings have often been head fakes, the Upsides have been good for at least a small rally before stopping, which in this case would mean 10-30 points higher on SPX next week. Hard to believe that will happen with the recent range-bound, dull movement. And weekend news could derail it as well.
SVXY: 40 puts, 50 puts, 55 puts.
That is it for today and I am going to the gym. Have a nice weekend.
#IRA #ShortPuts – Taking off my highest strikes for nice profits. After this, 35 is my highest strike still sitting out there.
Bought to Close SVXY DEC 15 2017 50.0 Put @ 1.72 (sold for 4.40)
Bought to Close SVXY DEC 15 2017 45.0 Put @ 1.32 (sold for 3.63)
Bought to Close SVXY DEC 15 2017 40.0 Put @ 1.00 (sold for 2.77)
#VXXGame #LongPutDiagonals #Rolling #StrangleRoll
As $VXX and $UVXY continue to bleed out, I’m rolling my last ITM puts into strangles.
BTC VXX Sep 22nd 47 puts for 5.75.
Sold VXX Oct 20th 44/50 strangle for 5.86
Sold VXX Oct 20th 43/46.5 strangle for 5.45
I’ll see another next week. Managing the weeklys on this long trade has gotten messy, but it keeps me busy!
#FallingKnife to keep an eye on…no idea why they’re falling. Just throwing them out there as a couple big losers today.
#CoveredCalls #IRA – Still trading around a few shares…
Bought to Close SVXY SEP 22 2017 90.0 Calls @ .03 (sold for .60)
Sold SVXY SEP 29 2017 91.5 Calls @ 1.03
Actual trade was a roll up 1.5 points for a 1.00 credit. Picking up 2.50 of upside…
John McCain announced opposition to Graham-Cassidy bill and healthcare stocks are surging.
#ShortPuts #IRA
STO $SVXY Nov 17 70 put @ 2.96 when $SVXY @ 89.34.
#IRA #ShortPuts – No position in this thing so starting one well below the 200ma.
Sold AAPL JAN 19 2018 140.0 Put @ 3.83
Sold AAPL FEB 16 2018 135.0 Put @ 3.70
Sold AAPL APR 20 2018 130.0 Put @ 3.56
#ShortPuts $SVXY Sold to open Oct 20th 75 Puts @ 2.05 when $SVXY was at 88.39.
$MYL #ShortCalls – Bought to close MYL Jan 19 2018 50.0 Calls @ 0.01. They won’t trade any lower and it’s still 4 months to expiration.
Originally sold on 05/23/2017 @ 0.64
$SVXY #ShortCalls – Bought to close 1 SVXY Sep 22 2017 91.0 Call @ 0.01.
Sold earlier this week for 1.08
$KR #ShortPuts #FallingKnife – Sold 1 KR Apr 20 2018 19.0 Put @ 1.50
$SVXY #ShortCalls #Rollup – Got a nice dip on the opening so I rolled the ones most likely to be assigned out a week.
Bought to close SVXY Sep 22 2017 85.0 Calls/Sold SVXY Sep 29 2017 86.5 Calls @ 0.12 Credit
Bought to close SVXY Sep 22 2017 86.0 Calls/Sold SVXY Sep 29 2017 87.5 Calls @ 0.12 Credit
Bought to close SVXY Sep 22 2017 87.0 Calls/Sold SVXY Sep 29 2017 89.0 Calls @ 0.12 Credit
Market starting to move a little, 9 points /es after hours. Keep some cash handy, might have some trades tomorrow.
I am looking at /es strangle at 2345 and 2565 but probably wait until the morning to see what the open brings. Plus will have some more cash tomorrow from a transfer and rolling positions will give me some extra cushion.
Closed Early
#earnings
$ADBE STO 9/22 150/155/162.5/157.5 @ 3.10
Closed out BUPS today at high of day (only stroke of good fortune today) BECS portion will expire. Trade lost 63 per contract.
Others Closed Today
$TSLA BTC 9/22 380/370 BECS @ 2.70 STO as part of IC @ 1.94 BUPS part will expire worthless tomorrow. Trade netted 151 per contract.
$JD BTC 10/20 45/43 BECS @ .80 STO as part of IC on 8/30 @ .65. The BUPS is still open and 71% profitable.
$SNAP BTC 10/20 15 put @ 1.51. STO 8/29 @ 1.15
$SPX BTC 9/22 2450/2475 BUPS @ 90% profit
$SPX BTC 9/25 2525/2500 BECS @ 8.00 STO 8/22 @ 2.00
Trades
#spxcampaign
$SPX STO 10/20 2390/2415 BUPS @ 1.45 Thank you @jeffcp66
$SPX STO 9/22 2480/2505 BUPS @ 3.50 Thank you @jeffcp66
#shortputs
$AAPL 10/20 140/148 BUPS @ 1.00 (OMM Trade)
#SPXcampaign Closed $SPX Sep 22nd 2205/2480 put spreads for 4.70. Sold yesterday for 4.90. As we head into the close, we’re looking pretty weak, so can’t risk an overnight gap down. This was only a hedge against the short 2505 call spread, which I closed this morning.
Also, sold to open Oct 4th 2470/2495 call spreads as an #ITMroll from spread stopped yesterday. I was unable to move short strike up.
$AGN #FallingKnife
Sold $AGN Jan 19 2018 160 puts @ 1.50 with the stock at 203.58. Stock hasn’t been at the strike price in nearly 4 years (Jan 2014).
STC 9/22 $42.5 puts @ $1.69
STC 9/29 $44 puts @ $3.60
Made some gas money. I’m going to be away from the market fishing tomorrow so was only going to hold these as long as $VXX was dropping. Was hoping for more of a drop this morning, but that didn’t happen, so I’m out.
close and roll higher
btc sept 29, 2450/2475 for 23.20
sto oct 6 ,2500/2525,double size at 11.85 x 2 =23.70
forward credit 6.55+23.70-23.20=7.05 forward credit.
Will see what future brings.
Thanks Jeff for suggestions.
$DUST #ShortCalls – a couple of orders this morning.
Sold DUST Nov 17 2017 35.0 Calls @ 0.75 – highest strike
Sold 1 DUST Dec 15 2017 35.0 Call @ 1.30
#ShortStrangles – Back into one of my favorites. Selling the week before earnings…
Sold NVDA NOV 3 2017 165.0/215.0 Strangles @ 3.51
$VIX – has dropped below the pre-market low and is now at 9.54
I admit it is boring sitting on cash but I have this feeling that rising interest rates are going to have an impact on the stock market. Also, the Faang stocks are no longer leading the market. That is a bad sign when the generals are not leading the troops. I expect to be very quiet for the next 5 weeks.
#SPXcampaign Closed $SPX Sept 22nd 2505/2530 call spreads for 2.95. Sold for 1.60 on Aug 25th.
This one slipped by me and should have been stopped when it hit my 4.00 stop. But I weathered through its peak around 9.00 and got out decently today. I sold the opposing 2505 put spread yesterday, and will look to exit today if possible. I am moderately bullish into tomorrow.
I am leaving on a 2-week trip on Tuesday so will be adding fewer aggressive positions. I’ll be trading during the trip but not at my computer as often.
$NUGT #ShortPuts – sold all these on the opening this morning. Paired these off with calls I sold on the last rally.
NUGT SEP 29 2017 30.0 Puts @ 0.58
NUGT OCT 6 2017 28.5 Puts @ 0.58
NUGT OCT 20 2017 26.0 Puts @ 0.56
NUGT OCT 27 2017 25.0 Puts @ 0.60
#SPXcampaign Sold to Open $SPX Oct 19th (monthly) 2415/2390 put spreads for 1.40.
Closed Early
#spxcampaign
$SPX BTC 9/29 2315/2340 BUPS @ .10 STO 8/29 @ 1.65
$SPX BTC 9/22 2500/2475 BECS @ 21.00 STO 8/29 @ 5.20 Getting a little faster
#longcalls
$WYNN BTO 10/20 143/148 BUCS @ 2.95 Experimenting on buying a BUCS in the money on a stock I expect to go up AND the BUPS returns not too exciting.
#shortputs
$AMZN STO 10/20 900/920 BUPS @ 2.50
#VIXIndicator Well with a close finally below the 78.6% line, the Downside warning that started on Sept 5th is finally canceled. In the “correctionless” last 20 months, the Indicator has become more lagging than ever, so not sure what to make of it.
Sold Nov 17 30 puts (lowest strike) @ 1.20 with the stock at 63.72. Kind of surprised at the premium down here but I’ll gladly take the stock at 28.80 in November if it gets cut by more than half by then.
$VIX – below the morning low at 9.67. Nothing to do here that I can see.
I did not catch the top of the vol spike
BTO Oct 6 $FXE $113.5 calls @ $1.58
STO Sep 29 $VXX $45 calls @ $.52
STO Sep 29 $VXX $47.5 calls @ $.32
BTO Sep 22 $VXX $42.5 puts @ $1.62, just for something new
BTO Sep 29 $VXX $44 puts @ $3.43
STO Sep 22 $UVXY $25 calls @ $.37
STO Sep 29 $UVXY $31.5 calls @ $.40
Put a little money to work, all of these are small positions
Bought to close $DRIP Oct 20 35 calls @ .05. Sold for 1.60 on 8/3.
Remaining positions: Short Nov 40 calls, Dec 35 and 40 calls.
$NUGT #ShortPuts – Sold NUGT Oct 27 2017 25.0 Puts @ 0.57.
Having difficulties getting any DUST Calls sold, so going a different way. And these options trade in 1 penny increments.
#ContangoETFs Sold $DUST Dec 35 call for 1.25. My first new position in DUST since early July.
#SPXcampaign
Closed on GTC order: $SPX Sep 22nd 2475/2450 put spreads for .40. Sold for 2.15 on Sep 13th.
#ITMroll Closed Sep 27th 2470/2495 call spreads for 21.70. Sold for 16.50 on Sep 11th.
Order in to sell Oct 4th 2745/2500 for 21.85… or whatever I can get before the close.
Sold to Open Sep 22nd 2505/2480 put spreads for 4.90. This is sold against the 2505/2530 call spreads, creating an #IronButterfly for Friday expiration. I will close whichever side I need to on Friday (unless we have a major move in either direction)
#Earnings #LongStock #CoveredCalls
This stinker cannot get back above 80. Was assigned stock back in July.
Sold $HCA Nov 17th 82.5 call for 1.05.
/NQ/qqq finally rolling over on shorter time frames. Will it drag the rest of the market? Will we get some volatility 🙂 hope so but will know in 20 minutes. I have a feeling that if there is no change from the fed likely going higher again, but I am too chicken at the moment to trade it. Will wait on the news……….
#ShortStrangles – Busy week away from the market but one fill today. Had this just for a trade going for 50 percent of max.
Bought to Close EFX OCT 20 2017 75.0/105.0 Strangle @ 2.70 (sold for 5.40)
$GWW – Finally breaking out of it’s 2 month trading box. No longer a #FallingKnife
$VIX Futures – Why traders think selling Volatility works:
Only 6,000 September VX calls didn’t go bust.
Over 4.8 million worth ZERO.
#NoFedFear – the VIX hit a new monthly low of 9.83 this morning.
Raghee from simpler futures just posted her shared charts and tools for tos and they are also available on tradestation as free download.
Some good tools.
Link for TOS http://tos.mx/qiWIsi paste into shared chart and voila, you have the tools.
That is capital i after the W.
$ALXN #ShortPuts – Bought to close 1 ALXN Nov 17 2017 80.0 Put @ 0.05. Out at minimum value 2 months early.
Originally sold on 05/23/2017 @ 2.00
#art cashin
says there is huge imbalance of sell orders to hit at close …could drop market 20 points.
we will see ..or chicken little!?
#earnings
$ADBE STO 9/22 150/155/162.5/157.5 @ 3.10
Last nine quarters biggest stock move 8% down and 7% up.
Bought to close $AZO Sep 22nd 505/630 strangles for .55. Sold yesterday for 3.20. Didn’t want to wait and see if it decides to tank again.
Closed REGN Sep 29th 430 put for 8.50. Sold in the 430/530 strangle for 7.40 on Aug 23rd. 530 call previously closed for .20.
#StrangleRoll: Sold Oct 6th 412.5/447.5 strangle for 9.30.
Bought to close $T Oct 20 35 puts @ .11. Sold for .75 on 9/7.
#SPXcampaign I put on the next class trade by covering yesterdays Oct 06th 2420/2440 BuPS with Oct 06th 2550/2570 BeCS. The final credit for the Iron Condor is 1.60. This isn’t exactly the described class trade but very close.
#shortputs
$SQ STO 10/20 29 put @ 1.45 Thank you @hcgdavis
$HTZ STO 10/20 20 put @ 1.29
$TRU STO 3/16/2017 35 put @ 1.40 Thanks for the idea @jsd501
$SYMC STO 9/22 34 put @ .50
#spxcampaign
$SPX STO 9/22 2475/2500 BUPS @ 3.60
$SPX STO 9/29 2500/2475 BECS @ 20.20 Thank you @jeffcp66
Busy all morning at the office and looks like today is mostly chop so did not miss much.
So I know the key to consistent returns is selling options but would like to be better at the directional trades to get an extra kick, home run every now and then and also to improve the timing of my option selling. The problem is most trend following systems tend to get in too late and out too late, especially on short time frames. I have pretty much looked at all of them over the years. Big trends, simpler, turtle trading, connors rsi system, whiz, alphashark, kirkland, persons, and several others. The alphashark tools have been helpful and have paid for themselves many times over but are mostly based on day trading although can be tweaked for longer time frames. Because of my schedule I am more of a weekly and swing trader.
I like @fibwizard charts but don’t have time to watch tick charts. So I have been watching several systems over the last few months and think I have discovered a hybrid that may work well for weekly trades. Basically use my alphashark market profile and dynamic swing trader indicators and combine them with kirklands p3 squeeze and a CCI 30 as the trigger confirmation. Looking at 6 months of data, seems to get the meat of most of the moves because you get into the trade earlier and out earlier than any of the other systems. Also fewer whipsaws than most of the other systems. I also like some of Raghee’s tools from simpler futures but have not figured out how to integrate them and she posts them for free (rare that simpler would give anything away). The GRAB candles are helpful and she somehow tweaked the darvas box to look like a pivot point but is based on real support and resistance, not just projected.
Anyway, no system is perfect but am restarting the /ES strangles with a directional bias when there is one. On a 5 and 15 min. have a fresh sell signal on the /ES so am selling one oct EOM 2570 call but watch the 1 and 4 hour for the weekly signals. Will then leg into the put once/if we get a drop. Between the strangle may buy or short 1 /es contract if there is a sustained move in either direction. I had some huge success with this before but got burned big on 8/24/15, not because it didn’t work, had too much size to properly hedge and optionsxpress locked my account.
My thought is to collect steady theta decay, but get the home run and hedge at the same time on the bigger moves. As you short or go long the future it hedges the options and creates a synthetic covered call or short with a put. Basically sell a delta 8 option each week (45DTE or close), then hedge when needed. I suppose if the delta of the short option hits 16-30, then add the directional component.
Will post as I trade it in real time and will share my charts. If anyone else has any thoughts or ideas on how to improve it, please let me know.
Current margin requirements are about 4k for selling a single strangle but then need to have 6k for the futures contract, so about 9-10k for each contract so as to not get into too much trouble.
Probably wont start until Thurs, when I can transfer some funds, current margin a little low.
Apologize for the long post, but I know you can help me find the flaws in the system and make it better.
Cheers, Chris
#ContangoETFs Closed on GTC order: $DRIP Nov 40 call for .20. Sold for 2.10 on Aug 29th.
#SPXcmapiagn Sold to Open $SPX Oct 19th (monthly) 2420/2395 put spreads for 1.45.
Closed on GTC order: Sep 25th 2445/2420 put spreads for .25. Sold for 4.50 on Aug 31st.
http://tinyurl.com/y9dbb9fb
Be sure to click “Home/REFRESH” above to update right-column features.
Rough day playing ATM put spreads; got whipsawed. The VIX downside warning has not been officially canceled because we have not closed below the Fib 78.6% from the small VIX spike on Sept 5th. So I’ve been hesitant to be aggressively bullish; but tried it out today on the open and got spanked.
#VXXGame #LongPutDiagonals
BTC $VXX Sep 22nd 44 puts, #Rolling: Sold Oct 13th 42 puts, .24 credit
BTC $UVXY Oct 6th 27.5 puts, #Rolling: Sold Oct 27th 25.5 puts, .15 credit
Also,
BTC UVXY Dec 91 call for 1.15. Sold for 8.00 on Aug 17th.
In my IRA, STO January 2018, 30 puts @.85
$RL #ShortPuts – Bought to close RL Oct 20 2017 60.0 Puts @ 0.05. Out at minimum value a month early.
Originally sold as a #FallingKnife trade on 5/16 and 5/17/2017 at 1.25 and 1.55
$UVXY #ShortCalls – Bought to close 1 UVXY Dec 15 2017 65.0 Call @ 1.49. Covered two in one day.
Sold this one on 08/10/17 @ 10.00.
$FOSL #ShortPuts – Bought to close 1 FOSL Nov 17 2017 9.0 Put @ 1.10.
This stock has been dropping almost from the day I sold the put at 1.30 and the stock got down to 6.80 before rebounding modestly.
It is still ITM so I’m taking it while it is profitable.
$DUST #ShortPuts – Bought to close DUST Oct 20 2017 14.0 Puts @ 0.05. Out at minimum value 5 weeks early.
Originally sold only 11 days ago on 09/07/17 @ 0.40.
I’ve also got strike 20 puts expiring this Friday.
$AAOI #ShortPuts – Bought to close 1 AAOI Sep 22 2017 50.0 Put @ 0.05. It won’t trade any lower.
Originally sold as a #FallingKnife trade on 08/07/17 @ 1.40.
$UVXY #ShortCalls #ClassicVXXGame – Bought to close 1 UVXY Jan 18 2019 65.0 Call @ 8.70.
Sold this one on 08/10/17 at 18.00.
$UVXY #ShortCalls – Bought to close 1 UVXY Jan 19 2018 65.0 Call @ 2.80.
Sold this one on 08/10/17 at 9.00.
#SPXcampaign Looks like an unfortunate whipsaw. I should’t have gotten suckered in since the Downside Warning has not been canceled. Going into triage mode.
