#LongCallDiagonals – Still fighting the short call but that’s a good thing. Rolling it up and out and reducing basis on long call LEAP (again).
Rolled Sep 15th 880.0 short call to Dec 15th 900.0 call @ .50 credit
And:
Rolled Jan 2019 750.0 long call up to Jan 2019 850.0 call @ 73.55 credit (new basis now 31.00)
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
#PerpetualRollingStrangles – A couple small adjustments to keep the theta up…
Bought to Close TLT MAY 19 2017 124.0 Calls @ .09 (sold for .96)
Sold TLT MAY 26 2017 121.5 Calls @ .60
#SPXcampaign Bought to close $SPX May 15th 2340/2315 put spreads for .30. Sold in a condor last week for 3.90.
Sold to Open SPX June 9th 2310/2285 put spreads for 1.35, with SPX at 2401.
#Earnings #ShortStrangles – Busy week so checking in for a couple minutes. Already have a long term position in NVDA but premiums look so good will probably be selling some more strangles today. Current position is long a few deltas so looking at a skewed strangle in the neighborhood of 95/110.
Good luck everyone!
$UVXY #CoveredCalls – Sold 1 UVXY May 12 2017 13.0 Call @ 0.23.
At this point I just want out.
$SVXY #ShortCalls #Rollup – Giving this trade a bit more time to work.
Bought to close 1 SVXY May 19 2017 115 Call/Sold 1 SVXY Sep 15 2017 123 Call @ 0.05 Credit
$SLV #ShortPuts #IRA #FallingKnife – Sold SLV Oct 20 2017 13.5 Puts @ 0.23 with the stock at 15.25.
#FallingKnife candidates – $TSN $CHRW
#SPXcampaign
Bought to close $SPX May 10th 2375/2350 put spreads for .20. Sold for 4.15 on Apr 26th. This was sold on the day the Upside Warning fired.
STOPPED: Bought to close $SPX May 15th 2415/2440 call spreads for 2.25. Sold in an iron condor for 3.90 last Wednesday.
#ReverseRoll Sold SPX May 17th 2380/2355 put spreads for 2.35. Moved this 2 days further out, but still only 8 days from now… bullish action should continue but may not last too long, so I’m keeping aggressive put spreads close in expiration, for maximum theta burn.
$UVXY saw on TT an interesting suggestion BuCS 10/20 with Jun16 expiration. Relatively low cost bto around 2.05. Small position but have already entered a STC for about 1$ higher
#Earnings Sold to Open $JAZZ May 12th 155/157.5/160/162.5 iron condors for 1.80. Max risk .70.
Biggest UP move: 6.0%, Biggest DOWN move: -6.7%, Average move: 2.8%.
With stock at 158.50, short strikes are about 0.8% OTM. Breakevens are 1.9% OTM.
$SVXY #Short Puts Morning all. Bought to close May 19th 80 Puts @ 0.05 off a GTC order. Missed getting this posted yesterday: Sold May 12th 140 put @ 0.51 with the $SVXY 153.97. Will roll if need be to avoid assignment.
SKEW at 128.2 this coincides with Jeff VIX level
6:00am EST NFIB Small Business Index – street sees 104.0
10:00am EST JOLTS Job Openings – street sees 5.67M
10:00am EST Final Wholesale Inventories m/m – street sees -0.1%
10:00am EST IBD/TIPP Economic Optimism – street sees 52.3
4:15pm EST FOMC Member Kaplan Speaks
Earnings before Open
ALLERGAN PLC (AGN) – consensus EPS $3.32
CHIMERIX INC (CMRX) – consensus EPS $-0.37
DISCOVERY COM (DISCA) – consensus EPS $0.49
DUKE ENERGY CP (DUK) – consensus EPS $1.05
ENDO INTL PLC (ENDP) – consensus EPS $1.12
OFFICE DEPOT (ODP) – consensus EPS $0.12
SILVER WHEATON (SLW) – consensus EPS $0.15
THESTREET.COM (TST) – consensus EPS $-0.03
VALEANT PHARMA (VRX) – consensus EPS $0.96
WAYFAIR INC 
– consensus EPS $-0.81
Earnings After Markets Close
ACACIA COMMUNIC (ACIA) – consensus EPS $0.52
ACADIA PHARMA (ACAD) – consensus EPS $-0.73
BLACK STONE MNL (BSM) – consensus EPS $0.17
CALIX INC (CALX) – consensus EPS $-0.59
DEPOMED INC (DEPO) – consensus EPS $-0.25
DISNEY WALT (DIS) – consensus EPS $1.45
ELECTR ARTS INC (EA) – consensus EPS $0.61
FOSSIL GRP INC (FOSL) – consensus EPS $-0.21
JAZZ PHARMACEUT (JAZZ) – consensus EPS $1.34
NVIDIA CORP (NVDA) – consensus EPS $0.66
PRICELINE.COM (PCLN) – consensus EPS $8.80
SAGE THERAPEUTC (SAGE) – consensus EPS $-1.56
TESARO INC (TSRO) – consensus EPS $-2.26
TRIPADVISOR INC (TRIP) – consensus EPS $0.17
VIVINT SOLAR (VSLR) – consensus EPS $-0.48
YELP INC (YELP) – consensus EPS $-0.08
These 2 are probably the bible on strangle/straddle selling. Occasionally watch tasytrade re-runs, wife and daughter at dance so catching a few of the more important re-runs.
https://www.youtube.com/watch?v=UBBjR3NcyUM managing straddles and strangles
https://www.youtube.com/watch?v=pDz10RKJdp0 how big account for 1 lot trades
I made no new SPX trades today, but have finally caught up and the position chart is now up to date.
We hit a 10 year low on the VIX today, lowest since December 2006.
Taking some #VXXGame trades off into the strength
Lightening the load in expirations that I had a heavier presence–bought to close:
$UVXY May 26 40 calls @ .04. Sold for 1.80 on 4/13
$UVXY May 26 42 calls @ .04. Sold for .80 on 4/21
$SVXY Jun 16 60 puts @ .20 Sold for 1.41 on 2/15.
$SVXY Jun 16 64 puts @ .12. Sold for 1.33 on 3/24.
$CELG #ShortPuts #FallingKnife – Sold a some more Puts in this name
Sold 1 CELG Oct 20 2017 95.0 Put @ 1.39
Sold 1 CELG Jan 19 2018 85.0 Put @ 1.39
$SVXY #ShortPuts – SVXY is too high and I’m going to have to cover more calls. I will also need to cover some worthless puts to get a full margin release.
Bought to close 6 May 12 2017 70.0 Puts @ 0.01. Sold on the last VIX spike at 0.64, 0.75 and 0.90
No earning trading today.
It is heading lower into the finish.
STO January 47 puts @1.05
STO January 200 puts @4.00
BTC May 19, 26 puts. Sold @ .65
STO Sept 15 33 puts @ 1.35 IRA account
STO October 95 puts @1.21
STO January 85 puts @1.25
So i have been watching how you guys trade the volatility products. What happens in an Aug 24, 2015 type event where VIX quickly spikes to 100? Can you hedge those products? Say go long or short stock or can you only cover with other options?
I lost more money that day than ever trading but was largely a function of size. My accounts I was able to hedge actually did ok but one very large account was wiped out because options xpress would not let me hedge, said there was “too much risk” to hedge and locked my account so I could not trade. Needless to say we do not have any money with them any more and I do not recommend them, their risk dept. did not seem to understand that by hedging the risk was controlled.
But seriously, how easy is it to hedge those products? Most of the move 8/24/15 occurred Sunday night into Monday morning so you could hedge with futures over night but by the time the market opened Monday morning it was already limit down and I know a lot of people could not place trades.
Just curious, I think a military conflict with N.Korea could obviously cause a spike like that.
It is below 10 again. This is a boring day.
$TRIP #Earnings – Sold $TRIP May 19 2017 52.5 Calls @ 0.60 with the stock at 47.09.
Earnings after the bell on Tuesday.
Already short long term Puts from the drop after the last earnings report.
$SLV #ShortPuts #IRA – Sold SLV Dec 29 2017 13.0 Puts @ 0.24 with the stock at 15.40.
$SLV just posted its longest losing streak ever. #FallingKnife
Carter Worth is looking for a bounce in this volatile commodity
#FallingKnife candidates – $CELG $BIIB $AKAM
STO May 19, 150 put @3.70 taking one for the team again.
Don’t forget to periodically click “Home/REFRESH” (above) to keep all features on Bistro updated
AES CORP (AES) – consensus EPS $0.20
CIMAREX ENERGY (XEC) – consensus EPS $0.85
HORIZON PHARMA (HZNP) – consensus EPS $0.25
JD.COM INC-ADR (JD) – consensus EPS $-0.05
KITE PHARMA INC (KITE) – consensus EPS $-1.68
NEWELL BRANDS (NWL) – consensus EPS $0.29
ON DECK CAPITAL (ONDK) – consensus EPS $-0.16
SYSCO CORP (SYY) – consensus EPS $0.51
TYSON FOODS A (TSN) – consensus EPS $1.06
Earnings After Markets Close
AMBER ROAD INC (AMBR) – consensus EPS $-0.18
AMC ENTERTAINMT (AMC) – consensus EPS $-0.08
DIPLOMAT PHARMA (DPLO) – consensus EPS $0.15
EOG RES INC (EOG) – consensus EPS $0.15
HERTZ GLBL HLDG (HTZ) – consensus EPS $-0.94
MARRIOTT INTL-A (MAR) – consensus EPS $0.90
OASIS PETROLEUM (OAS) – consensus EPS $-0.07
PANDORA MEDIA (P) – consensus EPS $-0.50
TESORO CORP (TSO) – consensus EPS $0.36
#VIXIndicator Friday’s close was an all-time record, and just pennies short of the all-time intraday high. However it is only 0.5% above the close of the upside warning day (4/26). I’m including this chart again to show you the moves on all previous upside warnings. 0.5% would be one of the lowest ever, so more upside is likely.
Gangbuster week with consolidating indices and no losers in earnings trades (one breakeven and one assignment)
#SPXcampaign
Sold to Open $SPX June 2nd 2310/2285 put spreads for 1.50
#VXXGame
BTC $SVXY May 26th 85 put for .15. Sold for 1.45 on Apr 21st
#Earnings
Sold to close $GRPN May 5th long 4 puts for .62; filled near the open, breakeven on the 4 straddle.
Previously closed winners this week: CMI, TSLA, CHTR, MELI, STMP.
#OptionsExpiration
— Expiring w/max profit —
$FB 146, 147, and 148 puts
$REGN 355/375/430/450 iron condors
— Expiring worthless (breakeven) —
$SPX risk/reversal: Long 2415/2435 call spreads, short 2435/2415 put spreads
— Assignment —
$TAP 92/95/98 Iron Butterfly; taking the stock from 95 puts, cost basis 93.00. I was going to close this for breakeven but missed the fill.
Have a nice week all..i had a great week in my Futures abyss…looking fwd to sunday’s open with the french election happening..
Cheers..
#OptionsExpiration for 5/5
$NVDA 05/05/2017 97 puts
$SVXY 05/05/2017 75 puts
$SVXY 05/05/2017 90 puts
$UVXY 05/05/2017 32 calls
$UVXY 05/05/2017 39 calls
$UVXY 05/05/2017 40 calls
No assignments.
Have a great weekend everyone.
Have a nice weekend and I hope every one had a nice profit this week.
We lucky few. We band of premium sellers.
SVXY
75 puts
80 puts
81 puts
82 puts
85 puts
90 puts
150puts
In my IRA
75 puts
90 puts
#OptionsExpiration – a decent week as more #Volatility trades roll off.
$TSLA #EarningCompression trade worked too. No assignments this week.
— Expirations —
NUGT (Weekly) May 5 2017 9 Calls (Covered)
NUGT (Weekly) May 5 2017 13.5 Calls (Covered)
NUGT (Weekly) May 5 2017 14 Calls (Covered)
SVXY (Weekly) May 5 2017 70 Puts
SVXY (Weekly) May 5 2017 80 Puts
SVXY (Weekly) May 5 2017 81 Puts
SVXY (Weekly) May 5 2017 82 Puts
SVXY (Weekly) May 5 2017 83 Puts
SVXY (Weekly) May 5 2017 84 Puts
SVXY (Weekly) May 5 2017 85 Puts
SVXY (Weekly) May 5 2017 90 Puts
SVXY (Weekly) May 5 2017 97 Puts
TSLA (Weekly) May 5 2017 280 Puts
UVXY (Weekly) May 5 2017 32 Calls (Covered)
UVXY (Weekly) May 5 2017 39 Calls
UVXY (Weekly) May 5 2017 40 Calls
UVXY (Weekly) May 5 2017 42 Calls
$TROW #ShortPuts – Bought to close TROW Jul 21 2017 55.0 Puts @ 0.05. They won’t trade any lower and still have 77 days left until expiration.
A former #FallingKnife Trade. Sold on 01/27/17 @ 0.80
#shortputs
STO $CMI Jun17 150 puts @ 2.20 in IRA this is a dividend play ok to get assigned.
#ShortPuts #Spxcampaign
Afternoon all. I’ve been away except for brief spells of insanity
Sold to open May 26th 2280/2300 BuPS for 0.80 when SPX was at 2391.57
Sold May 26th 125 Puts @ 1.77 when $SVXY was at 149.71.
I have nothing for this week’s OpEX.
Have a great weekend all.
Have to head to meetings for the rest of the day so need to post these a few minutes early.
Very light week as I’ve been closing positions early. Not much left.
$SVXY $75 puts
$SVXY $80 puts
$SVXY $82 puts
I have no remaining $VXXGame positions for next week. Can’t remember the last time that happened.
Hey Jeff, I found out this morning that I’m being sent to Portland on Monday to go work an issue at a facility in Wilsonville. Will be nice to see your part of the country. I likely will not be able to watch the markets next week as I’ll be consumed by work so everyone trade safe.
If it’s making 50% of its potential profit in 1 day, it’s coming off.
Bought to close $TSLA Jun 16 250 puts @ .88. Sold for 2.00 on 5/4.
30 minutes to go and Fuzzball and I will know if we get the medal of honor or just book another premium.
Earlier today BTC May 12 $70 puts @ $0.02
STO May 19, 125 put @1.15 I could not help myself.I am short a lot of calls in January from 180 to 270.
$SVXY #ShortPuts – Sold 1 SVXY May 19 2017 125.0 Put @ 1.16.
Waiting for many short Puts to expire today against existing short Calls.
http://www.euroinvestor.com/news/2017/05/03/velocityshares-launches-first-european-volatility-etns/13589275
$IBM #ShortPuts #FallingKnife – Sold 1 IBM JAN 19 2018 115.0 Put @ 1.21.
The three year low on the stock is 116.90
Pretty Sure These Will Expire Worthless
#spxcampaign
$SPX 2225/2250 BUPS Hail to the @jeffcp66eff
$SPX 2170/2270 BUPS Thank you @fibwizard
$SPX 2300/2350 BUPS Hail to the @jeffcp66eff
$WYNN 105/110 BUPS
$NFLX 145/150 BUPS
#vxxgame
$UVXY 40 calls Thanks @honkhonk81
$SVXY 81 puts
$SVXY 90 puts
$FB 146 puts Thanks @jeffcp66 Earnings Trades
$STMP 90 puts Thanks @jeffcp66 Earnings Trades
Have a great weekend everyone.
STO May 19, 140 put @ 1.54 on 1 contract. I am not sure if I will be assigned on the 150 put that expire today.
$AKAM #FallingKnife
Sold $AKAM Jan 19 2018 40 puts @ 1.10 with the stock at 51.87.
Thanks to Iceman for the heads up on this ticker earlier in the week.
No OpEx this week still ramping up from vacation time. Viewing pleasure this weekend “The French Election” on Sunday.
Have a great weekend everyone!
My first foray into crude futures so staying low risk. If we get a pop it’s a decent profit. If she tanks (doesn’t matter how low it goes) I’ll be long one dollar below where it’s trading in August. Pretty decent call premium for selling covered when (if) I get assigned.
SOLD /CL AUG 17 48/46 BULL PUT SPREAD @ 1.00
#F STO June 17 12 put @ .90
so bored…vol/vix where are you?
#shortputs
$DB BTC 5/19/ 18 put @ .20. Sold 4/20 for 1.93
$AMZN BTC 5/5 930 put @.30. STO 4/28 for 7.10. Heeding words of wisdom from many and most recently from @hcgdavis.
BTC WDC May 12- 85 put at 0.125. Sold last week for 0.74.
Rolling that Jun 9- 84.5 put for around a buck.
Keep the ladder rolling. So far 3 contracts have paid out 3k in 6 weeks.
Also once an option is anything less than .20 I think about closing or rolling. I have had too many trades whip a profit to loss if I had just closed them a few days earlier. We have all been there and done that but holding out another week or few days for pennies, the proverbial picking up pennies in front of the steam roller.
That’s all I have for the week, everyone have a good weekend and hear from you Monday!
#earnings REGN should have waited 1 more day
STO September 140 puts @1.90
#ShortStrangles – Bought to Close REGN MAY 5 2017 422.5 Puts @ .20 (sold for 25.20)
And:
Sold to Open REGN MAY 12 2017 430.0 Puts @ 6.50
$MRO #ShortPuts #FallingKnife – Sold MRO Oct 20 2017 11.0 Puts @ 0.46 with the stock at 13.89
#SPXcampaign #RiskReversal
Bought to open $SPX May 22nd 2410/2435 call spreads for 4.75
Sold to Open $SPX May 22nd 2375/2350 put spreads for 4.80
A third week in a row where I’m putting a trade out there for a push to new SPX all-time highs. Fortunately, the risk/reversal method means zero losses so far, despite being wrong about the hoped-for rally.
#Earnings Bought to close $MELI May 19th 210 puts for .05. Sold yesterday for 1.55.
#shortcallspreads TSLA
June 16 340/345 @.52
$FLR #FallingKnife
Sold these on the post-earnings move down:
$FLR Oct 20 42.50 puts @ 1.40
$FLR Jan 19 40.00 puts @ 1.40
Forgot to post yesterday BTC May 5 $910/$900 BuPS @ $0.02
Good morning. BTC July 120 puts @.05. Sold at 3.20
Non-farm payroll: +211,000, way up from March +79,000 (revised downward)
UE rate: 4.4%, lowest since 2007
U6: 8.6%, lowest since 2007
Avg hourly earnings: +0.3%
Labor Force Participation: 62.9%, down a tick from March
#shortputs
$GS STO 6/16 215/220 BUPS @ 1.30 (OMM)
$AMD STO 6/16 10 put @ .57
#spxcampaign
Follow the Jefe Jeff
$SPX STO 5/15 2315/2340/2440/2415 Iron Condor @ 3.35 Thank you @jeffcp66 for the idea.
Close Early
#earnings
$CMI BTC 5/5 140/160 strangle @.30 STO @ 1.00 Thanks @jeffcp66
The fourth is with us and if things go poorly there is always a fifth.
#Earnings I know nothing about this company, but a put sale works every earnings period and I wish to hell I owned this stock for the last 8 years.
BTC May 12 $65 puts @ $0.02, sold for $0.40
