STO January 91 call @ 5.85 on 1 contract
Recent Updates Page 401
$UVXY
I’ve been short a $27/$32 call spread expiring tomorrow. Ended up getting assigned on the short calls last night. At the spike higher at the open, closed out my $32 calls for a nice price. Now just watching the chart to pick a good time to exit the short stock. Market is strengthening and $UVXY starting up drop. Would really like to see it get below $31 this morning.
NUGT call
#ContangoETFs Sold $NUGT Dec 51 call for 2.20.
Recent discovery and follow-up to…
Recent discovery and follow-up to cover calls versus rolling puts.
With the rebound WDC I am back to break even after 3 weeks after a 17 point drop. However the covered calls have recovered quicker than the put rolls. Bottom line is that is probably more efficient to accept shares and convert to covered calls instead of continuing to roll the puts. It will still take me another 3-4 weeks to break even on the put rolls which is money that remains tied up. The CC will close next week giving me money to trade with again.
Sometimes better to sell an ITM covered call instead of a put on the weeklys especially on stocks that have an upside bias. Looking at a trade on SVXY the other day at the 76 strike, the covered call would have made $1290 on 10 contracts and the put only $1100 on the same number of contacts. The extra money would more than offset the exercise and assignments fees and just as easy to roll the calls. Plus rolling the calls usually gives you more capital gains as well.
$UVXY #Strangle – I HAVE…
$UVXY #Strangle – I HAVE NOT put this on yet but it’s a decent trade.
Short the Sep 8 2017 25/55 Strangle for more than 2.00 with the stock at about 30.50.
Only 3 more weeks to expiration with the Labor Day holiday thrown in to accelerate decay.
$DUST #ShortPuts Sold DUST (Weekly)…
$DUST #ShortPuts Sold DUST (Weekly) Aug 25 2017 25 Puts @ 0.60 in an account with long NUGT stock. Hoping to force NUGT up or collect more premium dollars while I wait for that to happen.
WMT earnings
#Earnings #BrokenWingButterfly
Slightly different… Sold $WMT Aug 18th 78.5/81.5/84 broken-wing butterfly for 2.00. Max loss downside is 1.00, max loss upside is .50. With stock at 81.00, can sustain a -1.9% move down and a +3.5% move up and remain profitable. Leans bullish with decent retail reports today from TGT and URBN.
Biggest UP move: 9.6%, Biggest DOWN move: -4.4%, Average move: 3.6%.
$NUGT #CoveredCalls – Sold NUGT…
$NUGT #CoveredCalls – Sold NUGT Aug 25 2017 36.0 Calls @ 0.37 with the stock at 32.50
$XOM #ShortPuts #FallingKnife – Sold…
$XOM #ShortPuts #FallingKnife – Sold XOM Jan 19 2018 70.0 Puts @ 1.11 with the stock at 77.39
$UVXY #ShortPut – Sold UVXY…
$UVXY #ShortPuts – Sold UVXY Sep 8 2017 25.0 Puts @ 0.93 with the stock at 30.65
I know, I know …Not my usual trade but I’m short a sh*t load of UVXY Calls
edit: added the strike price
$LB #CoveredCalls #OptionLadder – with…
$LB #CoveredCalls #OptionLadder – with the stock at 39.87
Sold LB Nov 17 2017 47.5 Calls @ 0.85
Sold LB Jan 19 2018 50.0 Calls @ 0.90
UVXY
Busy week away from the market again but still adding an experimental position on UVXY. Low risk high reward playing it’s long term downtrend. Reverse Whiz style.
#LongPutDiagonals #SyntheticShortStock – I’ll be adding a similar position on VXX after the split next week. I’ll let ’em race each other down and see what works the best.
BTW…TDA portfolio margin for this trade is only 2600 increasing to 4000 if UVXY doubles overnight…
——————–
Synthetic short stock with disaster long calls (17.75 debit)
Sold UVXY JAN 18 2019 30.0 Calls
Bought UVXY JAN 18 2019 30.0 Puts
Long call for possible disasters capping potential losses:
Bought UVXY JAN 18 2019 40.0 Calls
——————–
Weekly put sale against synthetic short stock to really boost the profits on this trade:
Sold UVXY AUG 25 2017 29.0 Puts @ 1.25
——————–
The plan:
Sell weekly for the next 74 weeks and let the thing decay. Hopefully capture 10 dollars of the move from 30 to 10.
Once I get a little profit under it I’ll reduce the size or possibly eliminate the disaster calls so I’m only treating those as a temporary expense. Once I remove the disaster calls and get some of that debit back I don’t see how this thing can’t make any less than 100 points per spread with very little stress and risk.
Gold, NUGT soaring
Gold, NUGT soaring
tt Research
If you are a tt follower or, maybe an account holder, you should sign up for this news letter published monthly. http://tinyurl.com/yap4g7gy
VIX
I notice VIX-X moved 5% today while UVXY and SVXY have moved less than 1%. Are we likely to see a stronger move when these ETFs do move? Or are they signaling a likely reversal of VIX-X? Anyone else analyzing these securities?
TRTN
#Rolling
Aug18//Sep15 $TRTN 35 puts @ 1.30 credit in TOS IRA acct. Share at 34.54
#ShortPuts
STO $TRTN Sep 15 35 puts @ 2.12 to replace same expiring Friday, or assigned in IRA Dividend account, 5.25% yield, .45 qtr div. Shares at 34.57
NVDA put sold
#Earnings Sold to Open $NVDA Sept 15th 160 put for 4.00. This will put me back into profit after trading this one since busted earnings in April.
AAOI rolling for time and credit
#Rolling #ShortPuts
$AAOI Rolling Aug 18/Aug 25 70 put for 1.00 credit. Opened on Aug 15 for 1.90 credit, less 1.00 today CB 67.10 plus commissions. Planning on weekly rolls…
UNIT Short put
#shortputs
$UNIT STO 9/15 20 put for 1.55
SPX calls sold
#SPXcampaign Sold to Open $SPX Sep 14th 2515/2540 call spreads for 2.40. A little higher delta than I usually sell for my standard campaign, but I already sold the 2520 short, and the 2525 short was not lucrative enough.
Also, closed on GTC order in pre-market: SPX Aug 17th 2395/2370 put spreads for .20. Sold for 1.35 on July 20th.
#spxcampaign $SPX STO 9/15 2325/2350…
#spxcampaign
$SPX STO 9/15 2325/2350 BUPS @ 1.45
#shortputs
$SVXY STO 8/18 81 put @ 2.20 Thank you @optioniceman
Rolled
$INGN 8/18 95 put to 9/15 95 put for extra 1.00
Closed Early
$AMZN BTC 8/18 1075/1050 BECS @98% profit
Assigned
$SWIR 8/18 30 puts
CMG
STO January 2018, 275 put @10.10 on 1 contract.
JD Earnings closed
#Earnings BTC $JD Aug 18th 42 puts for .05. Sold last Friday for .62 (avg price)
For the 5th time this…
From #ZeroHedge
For the 5th time this year, VIX spiked and was instantly crushed in the last week…
Fears of global thermonuclear war appear to have been rapidly dismissed…
Today’s market rebound as the perfect example for why the VIX gets slammed off its spikes so frequently.
We all want to live!!
#shortstraddle JD Sold Sept. 15…
#shortstraddle JD
Sold Sept. 15 23 straddle for 3.20
$UVXY #ShortCalls – after all…
$UVXY #ShortCalls – after all the fireworks for two days, I’m bored already.
Sold UVXY Aug 18 2017 46.0 Calls @ 0.24
Sold UVXY Aug 18 2017 46.5 Calls @ 0.25 with the stock at 32.32.
The strikes are above last week’s peak on the stock.
GLW
STO February 2018, 24 puts @.57
#PinAction – the bad news…
#PinAction – the bad news in $AAP is also hitting $AZO $GPC
$APA #ShortPuts #FallingKnife – Sold…
$APA #ShortPuts #FallingKnife – Sold APA Jan 19 2018 35.0 Puts @ 1.33 with the stock at 41.10
#NYCPicnic – For those that…
#NYCPicnic – For those that are no longer members of SMM or OMM and did not see Gary’s message yesterday, the SMM/OMMPicnic will be SATURDAY, OCTOBER 7, 2017.
Hopefully it will be a nice early fall day in Central Park.
I’m planning on being there and I hope others can arrange to travel to the #BigApple.
I’m sure that ALL will be welcomed, even if you’ve given up your membership. There will be no checking of your “papers” at the door.
#ShortPuts OIH STO Sep 15…
#ShortPuts
OIH STO Sep 15 22 puts @ .68, shares at 22.15.
XOP STO Sep 15 29 puts @ .75, shares at 29.75.
Both “tt 22 put at .50, 29 put at .64”
WYNN
#ShortStrangles – Caught an upgrade this morning. These analysts can be annoying sometimes.
Rolled WYNN AUG 18 2017 128.0 Puts to WYNN AUG 18 2017 133.0 Puts @ 1.00 credit
AMZN
#LongCallDiagonals – Small roll until this thing proves it can get through the 50ma…
Rolled AMZN AUG 18 2017 970.0 Call to AUG 25 2017 975.0 Call @ 1.00 credit
32.80 in front month premium received in just 17 days. Trade could run as much as another 96 weeks to June 2019…
#ironcondor AMZN Sold Sept. 15…
#ironcondor AMZN
Sold Sept. 15 920/925/1040/1045 for 1.35-followed a TT trade
AAOI
STO Aug 18 70 puts @ 1.90 share price at 69.79
SPX puts sold
#SPXcampaign Sold to Open $SPX Sept 14th 2350/2325 put spreads for 1.50, with SPX at 2462.
SVXY
STO March 2018, 45 puts @4.10
$SVXY #ShortCalls – added a…
$SVXY #ShortCalls – added a few short calls as the stock opens above 82
Sold 1 SVXY Aug 18 2017 83.5 Call @ 1.63
Sold 1 SVXY Aug 18 2017 84.0 Call @ 1.28
Sold 1 SVXY Aug 18 2017 84.5 Call @ 1.07
Sold 1 SVXY Aug 25 2017 87.0 Call @ 1.03
Sold 1 SVXY Aug 25 2017 88.0 Call @ 1.03
Sold 1 SVXY Sep 1 2017 90.0 Call @ 1.07
Good Morning
$SVXY #LongStock – at 8:00…
$SVXY #LongStock – at 8:00 am, sold another bunch of SVXY @ 82.22 on a 82 limit order.
This was the lot of stock that got put to me at 80.50 Friday.
I’ve cut back on further covered call orders because I’ve covered up all my remaining long stock.
I may sell a few out of the money calls as speculation because I know the biggest risk (potential loss) for me is still a downside move in the stock below 81.
More reading…
for all of you learning short option trading, I’ve found a simply written book solely on selling single, spread and covered call options. It’s written in plain language, sans algos, with “click-by-click” directions on entering a trade, wow! The focus is on not owning shares, unless assigned, selling Delta 12, 6 weeks out, monthly/weekly, stock or ETF short puts, call/put credit spreads or covered calls for .30 to .50 cents. The is a Kindle book for 9.99…get the app free, buy the Kindle edition. Look for: Earn 5 to 10% Monthly Selling Options: Specific Step-By-Step Wealth Building System. Duvall, Boyce. Blocker Publishing. Kindle Edition.
For those more seasoned here are sone tidbits: their top stocks traded are: PCLN AAPL GOOGL CMG AMZN AFSI BOFI FB BAC ISRG Other stocks traded are:
VIPS SUNE REGN AZO ICE BLK NKE COST SBUX NFLX AGO HIG
Best ETFs traded: SPY—S&P 500 Index QQQ—Nasdaq 100 Trust Series RUT—Russell 2000 Index IWH—Russell 2000 Index Trust FAS—Direxion Financial Bull TNA—Direxion Small Cap Bull UWM—ProShares Ultra Russell 2000 DIA—Dow Jones Industrial Index—ERX—D Energy Bull SSO—ProShares Ultra S&P 500 Other ETFs we trade: XLE—Energy Select Index EEM—MSCI Emerging Market Index QLD—Pro Shares Ultra QQQ XLF—Financial Select Sector SPDR Fund USO—US Oil Fund EWZ—iShares Brazil Index EWA—iShares Australia OIH—Holders Oil Service FXI—China Index UNG—United States Natural Gas Fund GLD—SPDR Gold Shares SLV—iShares Silver Trust QLD—ProShares Ultra NASDAQ UPRO—ProShares S&P 500 TZA—Direxion Russell 2000 FAZ—Direxion Financials Bear BBH—Biotech
Trade safely…
$SVXY #LongStock – You can’t…
$SVXY #LongStock – You can’t let a big stock position run 10 points without taking some of it off.
In the after hours, sold a bunch of SVXY @ 81.00.
This was the lot of stock that got put to me at 80.75 Friday.
Let’s see what tomorrow brings.
$SVXY #CoveredCalls – Missed the…
$SVXY #CoveredCalls – Missed the last 45 minutes of the market, but I did have orders already in.
Adding to earlier positions at better premiums.
— This week —
Sold 1 SVXY Aug 18 2017 81.0 Call @ 1.85
Sold 1 SVXY Aug 18 2017 81.5 Call @ 1.65
Sold 1 SVXY Aug 18 2017 81.5 Call @ 1.97
Sold 1 SVXY Aug 18 2017 82.0 Call @ 1.35
Sold 1 SVXY Aug 18 2017 82.5 Call @ 1.16
Sold SVXY Aug 18 2017 83.0 Calls @ 0.96
Sold 1 SVXY Aug 18 2017 83.0 Call @ 1.16
Sold SVXY Aug 18 2017 83.5 Calls @ 0.92
Sold SVXY Aug 18 2017 84.0 Calls @ 0.76
Sold SVXY Aug 18 2017 84.5 Calls @ 0.64
— Next Week —
Sold 1 SVXY Aug 25 2017 85.0 Call @ 1.44
Sold 1 SVXY Aug 25 2017 85.5 Call @ 1.20
Sold 1 SVXY Aug 25 2017 86.0 Call @ 1.03
$UVXY–Took a few off
Got pretty heavy in this the end of last week and I promised myself I would thin a bit on a retreat in volatility. Peeling a few off just for position size management.
Bought to close:
$UVXY 8/25 82 call @ .15 Sold for 2.20 on 8/11
$UVXY 8/25 60 call @ .39 Sold for 1.80 on 8/10
$UVXY 9/1 82 call @ .37 Sold for 3.10 on 8/11
Will look for more opportunities if things remain calm.
SPX CAmpaign Short Calls and Closed Early
#spxcampaign
$SPX STO 8/25 2500/2475 @ 7.60
$SPX STO 9/15 2545/2520 @ 1.60
#shortcalls
$SVXY STO 8/18 82.50 call @ 1.26 (Covered) Thank you @optioniceman
Closed Early Half of Position
$COST BTC 8/18 150/155 @ 81% profit (Patience worked this time)
$SVXY #CoveredCalls – Adding to…
$SVXY #CoveredCalls – Adding to my positions in both these.
Sold SVXY Aug 18 2017 82.5 Calls @ 1.05 with the stock at 79.85.
Sold SVXY Aug 18 2017 83.0 Calls @ 0.83 with the stock at 79.75.
NUGT #shortcalls BTC Aug 18…
NUGT #shortcalls
BTC Aug 18 $35 call for 0.19, sold Thursday for 0.50. Time to lighten short gold as calm resumes, for now. I’m now ready (high cash) for the next move.
UVXY
STO Sep 8 $91 calls @ $.51, small position just to get something on the books for this expiration, didn’t have anything.
BTFD strikes again. Or in…
BTFD strikes again. Or in our case SOTFD (sell options on the FD). Wish I had not been so busy this morning. Would have sold SVXY puts and some SPY/ES puts this morning at the open but was too busy.
Oh well, will close out positions in next 1-3 weeks then reload. Hopefully people keep buying SPX puts to keep the VIX up.
VXX
Gonna classify this under a new hashtag. The infamous #LongPutDiagonals although it will probably more than likely end up being a long term short stock position after the upcoming split. For now just messing around this week to get started…about a one-tenth position size.
Sold VXX AUG 18 2017 11.0/13.o Bear Call Spreads @ 1.00
Makes money below 12 and gets me some short stock if she spikes…I’ll add the rest after the split.
SVXY
STO September 29, 40 puts @.75
$SVXY
Made couple of sales this morning to replace puts that expired last week. Waited a while before putting these on, so lower prices than if I had done it first thing this morning.
STO Sep 1 $60 puts @ $.88
STO Sep 8 $55 puts @ $.76
#earnings #shortputs JD Bought Aug….
#earnings #shortputs JD
Bought Aug. 18 JD puts for .12, sold for .61 on Friday-thanks Jeff
$MYL #ShortPuts #FallingKnife – Sold…
$MYL #ShortPuts #FallingKnife – Sold 1 MYL JAN 19 2018 27.5 Put @ 1.42
SVXY
STO January 2019 80 covered call @24.05 earlier this morning on 1 contract. If I am called it will be over a 20% annualized return.
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY Aug 18 2017 82.5 Calls @ 0.95 with the stock at 79.24.
Adding to my position.
SPX roll sold
#SPXcampaign Sold to Open $SPX Aug 25th 2450/2425 call spreads for 16.25. #ITMroll from the calls stopped this morning.
Also, closed on GTC order: Aug 17th 2375/2350 put spreads for .20. Sold for 1.40 on July 17th.
Also, expired on Friday, Aug 11th 2495/2520 call spreads. Sold for 1.60 on July 13th.
GLD
#PerpetualRollingStrangles – For safety since I’m pretty heavy on the put side…
Bought to Close GLD AUG 18 2017 121.0 Puts @ .25 (sold for 1.15)
NVDA
#ShortStrangles – Sold the puts pretty conservatively the other day waiting for a bounce. Looks like we’re getting it so moving up to just under the 50ma…
Rolled NVDA SEP 15 2017 135.0 Puts to NVDA SEP 15 2017 155.0 Puts @ 3.55 credit.
Position is now 155/175 Strangles @ 7.30
SVXY put closed
#VXXGame BTC $SVXY Sept 15th 50 put for .70. Sold in the 100/180 strangle for 18.95 on March 21st.
SVXY #shortcalls BTC Dec 15…
SVXY #shortcalls
BTC Dec 15 $70 calls for $17.00, sold for $17.20, did better Friday selling half position for $15.75. This partial buy/sell approach reducing potential profit but averages out these ugly bumps.
UVXY #shortputs BTC $30 Aug…
UVXY #shortputs
BTC $30 Aug 25 put for 1.65, sold last Wed for $2.15. Missed low on Friday
NUGT
selling stock as prices fall $31.99 pre-market and $32.11 at open, bought for 31.50 and 36.60 (lesson learned about gold triple ETF.)
TOS update
Crashed all my watchlists. Guess I know how I’m spending my day. They can’t fix it either…
$SVXY #CoveredCalls – partially covered…
$SVXY #CoveredCalls – partially covered some of the stock I acquired via put assignment Friday.
Sold SVXY Aug 18 2017 81.0 Calls @ 1.65
Sold SVXY Aug 18 2017 81.5 Calls @ 1.45
Sold SVXY Aug 18 2017 82.0 Calls @ 1.20
Sold SVXY Aug 18 2017 82.5 Calls @ 0.85
Sold SVXY Aug 18 2017 83.0 Calls @ 0.64
Sold SVXY Aug 18 2017 83.5 Calls @ 0.65
Sold SVXY Aug 18 2017 84.0 Calls @ 0.64
SPX calls sold
#SPXcampaign Sold to Open $SPX Sept 14th 2520/2545 call spreads for1.45.
Also closed the Aug 18th 2445/2470 call spreads for 16.65. Sold for 19.90 on Aug 4th. Will be rolling to Aug 25th 2450/2475
$UVXY
STO Aug 18 $50 call @ $0.90
Only sold 1 because I took a chance and placed a market order (which I never do) just before the open but wanted to see what kind of fill I might get. Didn’t want to get stuck with a bunch of them in case I got a real crappy fill.
Econ Calendar for week of 8/14/17
Good morning
Notable Earnings After the Close…
Notable Earnings After the Close Friday (Previous Week) or Before the Open on Monday:
CSIQ, JD, SYY
Notable Earnings After the Close, Monday or Before the Open on Tuesday:
AAP, BITA, COH, DKS, EXTR, FSM, GALE, HD, HOLI, PLAB, QIWI, TEAR, TJX, WPRT
Notable Earnings After the Close, Tuesday or Before the Open on Wednesday:
A, JKHY, MSGN, PFGC, TGT, URBN, VIAV
Notable Earnings After the Close, Wednesday or Before the Open on Thursday:
BABA, BGG, BKE, CATO, CSCO, HTHT, LANC, LB, MSG, NTAP, SMRT, SNPS, SPTN, SSI, TOUR, VIPS, WMT
Notable Earnings After the Close, Thursday or Before the Open on Friday:
AMAT, ATGE, DE, EL, FL, GLOB, GPS, HIBB, ROST, SPWH, ZOES
Leveraged ETFs with decent option volume and premium.
Rained all day here Sat. so took a few minutes to find more leveraged and contango ETFS. Here are some with decent volume on the options. Would need to work the spreads but if selling adding liquidity so could probably get them filled at decent prices.
Bears: SDS, SQQQ. That’s all I could find with weeklies with decent volume. I know some of you also trade DUST and DRIP
Bulls: SSO, UPRO, TQQQ, UDOW, FAS, ERX and some of you trade the gold leveraged and GUSH.
These are all leveraged so have great premiums and also fast decay rates. The trade off is high volatility but isn’t that the point with how most of us trade?!
Will add these to the watch list and pair with SVXY/UVXY trades.
Hope everyone had a great weekend!
$VIX
$VXX – Barclays announced today…
$VXX – Barclays announced today that it will implement a 1 for 4 reverse split of its iPath® S&P 500 VIX Short-Term Futures Exchange Traded Notes (the “ETNs”) effective Wednesday, August 23, 2017. The ETNs trade on the NYSE Arca stock exchange under the ticker symbol VXX.
$UVXY #NewStrikes – Starting Monday,…
$UVXY #NewStrikes – Starting Monday, Strike 91.0 Calls are now available for every expiration through March 2018.
I’m switching all new orders up to that strike.
#xle assignment 65.5 had sold…
#xle
assignment 65.5 had sold on Monday for.70
