#LongCallDiagonals – Adjusting front month sales…
Bought to Close JPM MAY 26 2017 88.5 Calls @ .03 (sold for .45)
Sold JPM JUN 2 2017 86.0 Calls @ .50
Recent Updates Page 423
Expirations, Everyone have a nice weekend. I am going to the gym.
This is a large one for me. It will free up a good amount of margin.
In the IRA:
SVXY:
70 puts
75 puts
80 puts
85 puts
In the trading account:
REGN 420 puts
SVXY: 100puts,110 puts,120 puts, 125 puts,130 puts, 132 puts, 65 puts, 67 puts, 69 puts, 70 puts, 75 puts, 80 puts, 85 puts, and 90 puts
EWZ Whiz style
#LongCallDiagonals #IRA – Adding one of his with modified strike prices…he uses long delta 80 Leaps and just buys protective puts 20 percent below the current price. I generally buy about delta 70 Leaps and sell bull put spreads to reduce the entry fee. Either way though, sell front month to reduce basis.
Bought Jan 2019 30 calls and sold Jan 2019 25/20 Bull put spreads (and sold May 26 35.5 calls against these). Net debit of 6.35.
With 87 weeks to go front month calls don’t need to bring in much at all for this to be a zero cost trade…
$UVXY
I did make a couple of trades earlier today.
STO UVXY May 26 $15.5 calls @ $0.33 (highest close this week was $15.85)
STO UVXY Jun 9 $20 calls @ $0.38
STO UVXY Jun 9 $24 calls @ $0.39
Closing EWZ
Bought to close $EWZ Jun 30 puts @ .28. Sold yesterday for 1.00.
$UVXY #CoveredCalls – Feeling pretty…
$UVXY #CoveredCalls – Feeling pretty certain that today’s 15 and 15.5 calls would expire with the stock below 13 with 2 hours to go, I pre-sold new calls for next week.
Sold UVXY May 26 2017 16.5 Calls @ 0.28
Sold UVXY May 26 2017 17.0 Calls @ 0.28
TRTN
$TRTN #ShortPuts STO Oct 20, 2017 25 puts @ 2.60 IRA account will take stock w/ .45 qtrly dividend if need be
$TSO #ShortPuts – Bought to…
$TSO #ShortPuts – Bought to close 1 TSO JUN 2 2017 68.5 Put @ 0.01.
Originally sold on 04/19/2017 at 1.09 as a #FallingKnife trade.
SPX roll
#SPXcampaign So far this Downside Warning is shaping up to be a big failure. I’m going to have to review the set up as the signal is not as reliable in the last couple years as it was prior to 2015. However, until we close below 11.00 (which could be today), we could still weakness next week. The rally today could be an OpEx thing.
But regardless, I was too aggressive on reverse rolls on Wednesday; placed too many below the Tuesday high of 2405, which should have been my line in the sand.
Bought to close $SPX May 26th 2380/2405 call spreads for 10.50. Sold for 8.00 on Wed as a #ReverseRoll
Sold to Open SPX June 12th 2315/2340/2410/2435 #CondorRoll for 7.55, 1.5x position size. One side of that will likely require further attention, but the idea is to get the current ATM spread out of play.
$SVXY #ShortPuts – #Rolled my…
$SVXY #ShortPuts – #Rolled my SVXY May 19 2017 148.0 Puts down and out. I split the position into 2 parts.
Bought to Close SVXY May 19 2017 148.0 Puts @ 4.81/Sold SVXY Jun 2 2017 142.0 Puts @ 5.31 for a .50 Credit and a 6 point drop in the strike price
Bought to Close SVXY May 19 2017 148.0 Puts @ 4.11/Sold SVXY May 26 2017 145.0 Puts @ 4.61 for a .50 Credit and a 3 point drop in the strike price. Only one more week until expiration on this one.
SVXY
I expect to be assigned on my 150 puts so I STO the January 150 call @ 23.95 which will give me an annual return of 23.7% on the 1 contract.
$SVXY
#ShortPuts Rolled my May 19th 150 Puts out to May 26th 150 Puts for 1.29 credit when $SVXY was at 144.16.
Thanks to all for showing…
Thanks to all for showing me the VXX trades. With the vol. spike I was able to see what happens, looks like 7:1 leverage on SVXY and now I see why the premiums are so high but awesome!
Rolled TSO May 19 80.5 put to May 26 81 put for 0.52 credit.
May try weekly SPY IC based on the spx campaign. Will establish 1-5 point wide wings and roll challenged options. See if it is any more efficient than SPX although may not get the tax benefit of SPX. Will let you know how it goes after a few weeks but this may be a better option for small accounts than SPX. Won’t start until next week when I have some expiring positions that will free up capital and margin.
Cheers and everyone have a good weekend! I am done trading for the week.
XIV stock
#HolyCrap – Can’t believe it…a stock trade at “The Bistro” !!
#IRA – Just for fun was scaling into some XIV this week at 77.85, 75.70, 73.35, and the biggest chunk at 68.02. Average share price of 72.59. Wasn’t looking too good initially so with this move today I feel like “ya gotta book it”. Could see another 9 handle in the VIX but no greed here.
Sold XIV stock @ 74.60 (bought for 72.59)
ISRG adjustment
#ShortStrangles – Spending a little of the weekly premium accumulated to make a small roll up. Trying to keep all of these in the expirations prior to the next earnings announcement. Then, if I still have the position, it can be rolled up or down quite a bit for a credit rolling it into the high IV of an earnings week.
Rolled ISRG JUN 16 2017 855.0 Call to JUN 30 2017 862.5 Call @ 1.16 debit
Sold against next week’s 865.0 put…total premium for the entire position is now down to 27.20. Would still love to be out by earnings. Amazing move on this thing…120 points from the low the day before earnings. 16 percent in 3 weeks. Are stocks like this actually worth that much?
TSO
BTC June 2, 68.5 put @.01, sold @1.10 on a falling knife trade.
/ES hedge adjust
#Futures – After a couple rolls down earlier this week I managed a small profit so re-setting for June.
BOUGHT /ES MAY 17 (Wk3) 2350 CALL @ 19.75 (sold for 28.50)
SOLD /ES JUN 17 2370 CALL @ 26.00
SVXY roll
#VXXGame Yesterday, bought to close $SVXY June 16th 130 call for 12.45. Sold for 6.40 on Dec 21st.
Today, #StrangleRoll, Sold Dec 95/210 strangle for 12.90
SVXY TOFTT update
#TakeOneForTheTeam – Was short a 160/155 put spread from a couple weeks ago. Of course was exercised early on the short 160 today. Immediately closed the 155 long put for 17.25. Originally received 2.80 for the spread so a grand total of 20.05 in premium to offset the 160 purchase price.
Stock basis of 139.95 is where she settled out…
I don’t feel like I really need this protection for the Jan 2018 short calls anymore so will aggressively try to unload this by selling a covered call slightly in the money.
Sold SVXY MAY 26 2017 137.0 Call @ 4.85
Still make a couple bucks with breakeven of 135.10
$GILD #ShortPuts – Bought to…
$GILD #ShortPuts – To avoid assignment, bought to close GILD May 19 2017 65.0 Puts @ 0.41 that I had sold for 1.40 in Feb.
#Rolled down to next month’s GILD Jun 16 2017 62.5 Puts @ 0.67 (for a 0.26 credit on the roll).
Dropped the strike price 2.5 points and avoided assignment on this #FallingKnife trade.
$NUGT #CoveredCalls – Bought to…
$NUGT #CoveredCalls – Bought to close NUGT May 19 2017 35.0 Calls @ 0.70 that I sold last Friday for 1.43.
#Rolled up to next week’s NUGT May 26 2017 36.0 Calls @ 1.42 (for a 0.72 credit on the roll).
Raised the strike price a point.
$SVXY
I will have limited market access today, so rolled my SVXY May 19 $148 puts mostly into June 2 $133.5 puts, also some Jun 9 $95’s and Jun 16 $90’s to get a credit.
Made this trade late yesterday, didn’t have a chance to post.
SVXY roll
BTC May 19, 150 put and sold June 16 145 put for a credit of 1.08
I think the rest of my short puts will expire at zero today but, we will see.
NVDA looks poised for another…
NVDA looks poised for another run at all-time highs
I’m glad I wasn’t filled at on my order for a neutral iron butterfly on ADSK. Too the moon!
SPX Chart and VIX Indicator…
SPX Chart and VIX Indicator have been updated
Late Trades
#shortputs
$SVXY STO 6/16 100 put @ 2.25
#spxcampaign
$SPX STO 5/26 2279/2320 BUPS @ 3.00
Red wallpaper? Did I miss Valentine’s Day?
Rolled Jun 23 SVXY 110…
Rolled Jun 23 SVXY 110 put to Sep. 15 100 put for 1.90 credit. Reduced margin, brought in a few more bucks.
Then I went kiteboarding because staring at computer screens all day is not good for us and it was 88, sunny, and windy at assategue and is as close as we can get to flying without an engine or jumping off something really tall!
Looks like some of you have been selling the crap out of options……….
$SVXY – today’s early post…
$SVXY – today’s early post market moves in SVXY mean that you can’t rely on SVXY puts to expire based on the 4 pm closing price tomorrow.
Today, after closing at 133.50, it rallied to 134.33, then plunged to 130.28 before recovering a bit.
If we see this tomorrow, some unexpected assignments could take place.
I will be covering every profitable position I can during the day at low prices, but I will be rolling any ITM positions that I can’t cover out at least a week.
$UVXY #ShortCalls #VXXGame – Sold…
$UVXY #ShortCalls #VXXGame – Sold all these earlier with UVXY near 15.80.
Sold 1 UVXY Sep 15 2017 60.0 Call @ 1.19
Sold 1 UVXY Jan 19 2018 60.0 Call @ 2.30
Sold 1 UVXY Jan 18 2019 60.0 Call @ 4.19.
All these are the highest available strike prices
$SVXY #ShortPuts Sold June 16th…
$SVXY #ShortPuts Sold June 16th 100 Puts @ 2.24.
SVXY
STO December 75 puts @ 4.35
#shortputs PIR sold Dec. 4…
#shortputs PIR
sold Dec. 4 strike put for .46
MNK adding Oct
I’m already short 30 puts in January. I might add 25 puts, but for now I’m adding 30 puts in October.
Sold $MNK Oct 20 30 puts @ 1.20.
#shortcallspreads SPY From TradeWise, TDA…
#shortcallspreads SPY
From TradeWise, TDA affiliated sell June 2, 240/242 calls@.52
$TRIP #ShortPuts – Bought to…
$TRIP #ShortPuts – Bought to close 1 TRIP Jun 16 2017 36.0 Put @ 0.05. It won’t trade any lower.
A former #FallingKnife trade sold on 02/27/17 @ 1.15. Closed out a month early.
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Jun 9 2017 75.0 Puts @ 0.60 with the stock at 132.15
$UVXY #ShortCall – Sold 1 UVXY Jun 30 2017 22.0 Call @ 2.02 with the stock at 15.80.
The strike price is pretty low but it is the highest available for this weekly contract.
SPX roll
#SPXcampaign Having to roll out call spreads already…. Reverse rolling not working as well as usual, but I admit this one I sold this morning was much too aggressive.
Stopped SPX May 19th 2370/2395 call spreads for 7.00. Sold this morning for 3.20.
#CondorRoll Sold June 2nd 2295/2320/2410/2435 condors for 4.90, 1.5x position size.
$SVXY
#Short Puts Bought to close my May 19th 130 Put @ 0.80 on this pop to avoid any issues. Originally sold for 1.85 on 5/1. Hope everyone is having a green day. #Shortputs
SVXY roll
BTC May 19, 140 put and sto June 16, 130 put for a credit of .95 cents.
BTC May 19, 139 put and STO June 16, 130 put for a credit of 1.80
BTC May 19, 137 put and STO June 16, 127 put for a credit of 2.60
BTC MAy 19, 136 put and STO June 16, 127 put for a credit of 4.20
BTC May 19, 135 put and STO June 16, 125 put for a credit of 3.20
SVXY Roll
BTC May 19, 148 puts
STO June 16, 143 puts for a credit of .38 cents
Rolled GLD
#PerpetualRollingStrangles – Darn it…thought she might take out the puts this week but didn’t quite have the oomph. Rolling a month and tightening the inversion by a half point while still bringing in nice credit.
Rolled GLD MAY 19 2017 120.5/113.0 inverted strangles to JUN 16 2017 120.0/113.0 @ .80 credit
SVXY
STO June 23 80 put @1.38 on 1 contract.
Rolled May 19, 138 put To June 16 124 put for a credit of .45 cents.
SPX trades
#SPXcampaign I am selling this rally, even though its strength is unusual for the day after a warning. It is certainly true that the Downside Warning can represent an SPX bottom, so I’m being cautious and ready to manage call spreads if the rally continues.
#RiskReversal: Wish I’d waited to enter this one, but oh well. This was entered at the open and meant to take advantage of possible strong moves down today or tomorrow.
Bought SPX May 24th 2300/2275 put spreads for 2.20
Sold SPX May 24th 2385/2410 call spreads for 2.60
Stopped: SPX Jun 9th 2290/2265 put spreads for 2.80 (this hit my 3.00 stop)
#ReverseRoll Sold SPX May 19th 2370/2395 call spreads for 3.20. Expires Friday afternoon, unless I have to roll it.
Sold to Open $SPX June 15th 2430/2455 call spreads for 1.85, with SPX at 2366.
SVXY
STO June 23 80 put @1.38 on 1 contract.
LULU roll
A missed opportunity to take this off a week ago for less than .20 and a nice profit. Now, it’s a loser that has to be managed.
Rolled $LULU May 52.50 puts out to Jun for 1.20 credit.
$SVXY
Did an early roll. When $SVXY dropped back below $135, BTC 2 SVXY May 19 $135 puts, STO 3 SVXY June 9 $99 puts for a small credit.
Rolling HD
Working basis down on this.
Rolled $HD May 148/150 strangle out to Jun 145/150 strangle for 1.16 credit.
CMG roll
#ShortStrangles – Got a little too aggressive rolling the put up. Trying to bring it back down a little. Premium on this contract is up to 17.10. May have to use some of that to roll the June 450 call it’s sold against.
Rolled CMG MAY 19 2017 500.0 Put to JUN 2 2017 497.5 Put @ 1.00 credit
ISRG roll
#ShortStrangles – Rolling out a week for nice credit. Premium now up to 17.65 on this contract. Sold against a Jun monthly 855 call…
Rolled ISRG MAY 19 2017 865.0 Put to MAY 26 2017 865.0 Put @ 3.00 credit
REGN
#ShortStrangles – Still selling the crap out of weeklies against longer term 420 calls. Accumulating plenty of premium for a roll if needed.
Bought to Close REGN MAY 19 2017 445.0 Puts @ .68 (sold for 10.00)
And:
Sold REGN MAY 26 2017 455.0 Put @ 8.55
Sold REGN MAY 26 2017 457.5 Put @ 9.65
Few trades
STO Jun 17 TSO80 p at 94 in IRA
BTC Jun 16 SVXY 110 put at 4, sold at 1.4 so loss of 2.6.
Some weird calculations going on in my portfolio margin account. Everything is cash secured and only using about 20% margin total but had a margin call so had to close that trade at a loss just to get rid of the margin call. Only a $520 total loss so something easy to do to stay in my other trades which should make some $ in next 1-2 weeks.
Hope everyone is trading/doing well and enjoying the volatility!
#spxcampaign STO call June 2…
#spxcampaign
STO call June 2 2405/2430 @2.70
completes IC
$UVXY #ShortCalls – Sold UVXY…
$UVXY #ShortCalls – Sold UVXY Jun 16 2017 45.0 Calls @ 0.45 with the stock at 15.50
$SVXY #ShortPuts – Sold 1…
$SVXY #ShortPuts – Sold 1 SVXY Jun 16 2017 85.0 Put @ 1.54. Adding on at a higher premium with the stock at 132
$SVXY $UVXY
Added some longer term positions this morning
STO SVXY Jun 16 $80 puts @ $1.11
STO SVXY Jun 23 $70 puts @ $0.70
STO SVXY Sep 15 $55 puts @ $0.94
STO SVXY Dec 15 $50 puts @ $1.04
STO SVXY Jan 19, 2018 $50 puts @ $1.55
STO UVXY Jun 2 $27.5 calls @ $0.37
STO UVXY Jun 9 $25 calls @ $0.70
Not intending to add any more positions until we see what happens into expiration tomorrow so I know how much I need to roll. Still have a lot of dry powder.
IBB
#ShortStrangles – Waiting a little before making a decision on this week’s 295 put. Selling a June call against it slightly above recent highs.
Sold IBB JUN 16 2017 305.0 Call @ 1.41
UVXY
#VXXGame – Adding one…
Sold UVXY JAN 18 2019 60.0 Call @ 3.75
EWZ
#FallingKnife – Taking a slight directional play but could get the stock at a decent basis no matter how far it falls…
Sold EWZ JUL 21 2017 35.0/30.0 Bull Put Spreads @ 2.35
#FallingKnife trades today – $GE…
#FallingKnife trades today – $GE $GILD $CVS $AKAM $URBN
$NUGT $DUST – 8% moves…
$NUGT $DUST – 8% moves in the first 10 minutes
New VIX highs overnight
#VIXIndicator Vix hit 16.30 early this morning, besting the Apr 17th high by .02. Click “Home/REFRESH” to keep VIX Indicator and other features updated.
With a new downside Warning hitting yesterday, a return to the 2400 area is unlikely for several days or weeks. Selling short-term call spreads is best bet…. further expiration dates may risk getting caught in the bounce. Going long puts or put spreads is riskier as further downside movement may not be as rapid as yesterday. But it could be! Protect your long positions.
Looks like the 2347 elliott…
Looks like the 2347 elliott wave level may be holding on /ES. A lot more support at 2331 the next level if we break further.
I like the vol but could use a pause to clear up or roll a few positions to keep out of neg. margin.
#spxcampaign IMHO we are approaching…
IMHO we are approaching this weeks expected down move for the spx, and it should be vigorously defended by “them”
sooooo no worries!!!!
Record Day in YM
From 5pm Last night thru 3pm today, I had a record day..
365 Points gained in the 23 hour trade session…
Have to love IV…
$SVXY $UVXY – last trades…
$SVXY $UVXY – last trades of the day – some filled after the close
Sold UVXY Jun 16.2017 37.0 Calls @ 0.70
Sold 1 UVXY Jan 19 2018 60.0 Call @ 2.26
Sold 1 UVXY Jan 18 2019 60.0 Call @ 4.00
Sold 1 SVXY May 26 2017 102.0 Put @ 1.18
Sold 1 SVXY May 26 2017 103.0 Put @ 1.24
Sold 1 SVXY May 26 2017 104.0 Put @ 1.21
Sold 1 SVXY May 26 2017 105.0 Put @ 1.38
#IRATrades
Sold SVXY May 26 2017 88.0 Puts @ 0.50
Sold SVXY May 26 2017 89.0 Puts @ 0.50
Sold SVXY May 26 2017 90.0 Puts @ 0.50
A Few More Good Puts, Hopefully
#shortputs
$SVXY STO 5/26 115 put @ 1.75
$SVXY STO 5/26 110 put @ 1.30
$SVXY STO 6/2 98 put @ 1.20
SVXY Sold after the close
$SVXY May 26 105 puts @ 1.10
$SVXY Jun 23 80 puts @ 1.20
$SVXY Jun 9 90 puts @ 1.20
SPX – I’m a rolling m*th**f***er
#SPXcampaign Whew! What a day. Playing the SPX campaign means you’ll have rough days like this. My only disappointment today was the May 17th 2380/2355 spread I should have closed yesterday. That’s the only stopped spread that i have not yet rolled. Will add on some rolls in the coming days. All other trades pretty much as the [lan goes on such a sharp down day; despite the drawdown in the accounts today, positioning to gain it all back and then some in coming weeks.
I have been prepping a revised webinar on the strategy and have seen that when a Downside Warning or Upside Warning first hits, selling reverse rolls around and above recent extremes is a safer bet than rolling further out in the same direction. So today, I rolled most back into call spreads, since the odds are we will not be returning to 2400 area for at least a couple weeks.
Here are my trades since 2p ET, when things started to really crater:
BTC SPX May 17th 23870/2355 for 14.00. Sold for 2.35 on May 9th (not yet rolled).
Stopped SPX May 19th (Friday PM) 2350/2335 puts for 3.85. #ReverseRoll to May 31st 2390/2415 calls for 4.80 (extra premium will be applied to another roll).
BTC June 9th 2450/2475 calls for .20; sold for 1.50 on May 10th.
Stopped June 9th 2310/2285 puts for 3.35; #ReverseRoll to June 7th 2400/2425 calls for 4.10.
Stopped May 26th 2365/2340 puts (risk/reversal) for 7.85. #ReverseRoll to May26th 2380/2405 calls for 8.00.
STC May 26th 2410/2430 long call spreads (risk/reversal) for .80.
Stopped May 22nd 2375/2350 puts (risk/reversal) for 9.40. #ITMroll to May 30th 2370/2445 put spreads for 7.60, with May 30th 2405/2430 call spreads for 2.10 added to make up for debit.
STC May 22nd 2410/2435 long call spreads (risk/reversal) for .20. First half sold Monday for 3.30.
Stopped June 2nd 2310/2285 puts for 2.75. #CondorRoll to June 9th 2235/2255/2415/2435 for 3.10.
Good night
I am off to the gym but will be ready for tomorrow.
SVXY, Getting ugly
STO June 2:
96 put @1.10
97 put@ 1.10
98 put @ 1.15
99 put @1.20
SPX Campaign Short Puts and Early Closing (Sky Is Falling!) ;-)
#spxcampaign
$SPX STO 6/2 2285/2310 BUPS @ 2.25
$SPX STO 6/2 2265/2290 BUPS @ 1.50
$SPX STO 6/9 2265/2290 BUPS @ 1.60
#shortputs
$SVXY STO 5/19 148 puts @ 2.25
$SVXY STO 5/19 122 puts @ 1.07
$SVXY STO 6/23 112 puts @ 1.50
$SVXY STO 6/30 95 puts @ 1.80
Thanks to all the fellow short putters (Olympic Event?)
$WYNN STO 6/16 110/120 BUPS @ 2.23
Closed Early (Stops Hit)
$FDX BTC 5/19 200/195 BECS @ .38 30 % profit
$AMZN BTC 5/19 980/970 BECS @ 66% profit
$NFLX STC 5/19 150 call @ 7.56 BTO @ 5.55
$Trin
only at 1.25 close to the close. There may be more down side tomorrow, who knows?
Rolled another WDC Jun 16 85 put to Jun 30 83.5 put for credit of 0.15.
Trying to avoid tapping into margin calls. I have others I can easily cover if needed.
UVXY experiment
#correction Sincere Apologies to those…
#correction
Sincere Apologies to those hurt today, but I needed this.
MNK, AKAM adding
Sold $MNK Jan 19 30 puts @ 1.85. Adding to position at a higher premium.
Sold $AKAM Jan 19 37.50 puts @ 1.38. Adding at a lower strike.
