#Earnings #ShortPuts. Selling puts on this today… its moves to the upside have been much larger so I’m more comfortable with bullish short puts, even taking assignment of stock if it drops.
STO NFLX Apr 21st 135 put for 1.90
STO NFLX Apr 21st 130 puts for .85
Will add more later, hopefully when options prices increase.
Over last 12 reports, NFLX 5-DAY moves: Biggest UP move: 27.8%, Biggest DOWN move: -19.9%, Average move: 13.4%. These stakes are -6.9% and -10.3% OTM.
#earnings NFLX
Anybody roll the dice on NFLX?
#SPXcampaign $SPX Bought to close the following:
Apr 20th 2375/2400 call spreads for .40. Sold for 7.50 on Apr 7th.
Apr 21st (SPXPM) 2390/2415 call spreads for .20. Sold as a #CondorRoll for 4.10 on Apr 7th.
May 5th 2430/2455 call spreads for .20. Sold as a #CondorRoll for 4.15 on March 28th.
Sold to Open May 18th 2420/2445 call spreads for 1.30, with SPX at 2336.
Don’t forget to periodically click “Home/REFRESH” (on menu above) to keep items in the right-hand column updated.
No nukes over the weekend so re-covering my short emini with a put. I’ll also add a buy stop on the emini at breakeven and sell a call to re-establish the short position if stopped out.
Emini contract short @ 2339.0 with a buy stop at that level
And:
SOLD /ES MAY 17 (Wk3) 2275 PUT @ 23.00
SOLD /ES MAY 17 (Wk3) 2375 CALL @ 12.00
Max gain on this position if we continue down is 99 points. I’d also have the option of rolling the put further out and down if needed.
It’s a holiday in this state, but the markets are open. I will be trading in the morning but then out to watch my wife run the marathon.
The VIX indicator has been updated. I’m behind on the SPX Chart but can answer any questions you have. I started selling call spreads aggressively when the #VIXIndicator fired last Tuesday, and expect more downside this week.
#Early Close
$SPX BTC 4/17 2415/2390 BECS @ 93% profit Thank you @jeffcp66
$SPX BTC 4/21 2445/2420 BECS @ 95% profit Thank you @jeffcp66
$ABX BTC 4/21 16/20 BUPS @ 71%
$REGN BTC 4/21 425/420 BECS @ 93% profit Thank you @thomberg1201
#spxcampaign
STO 4/28 2405/2380 BECS @ 3.60 Thank you @jeffcp66
#vxxgame
$SVXY STO 5/5 90 put @ 1.50
$SVXY STO 5/12 65 put @ 1.50 Thank you @optioniceman
$SVXY STO 4/28 115 put @ 1.50
$UVXY STO 5/5 40 call @ .75
Been gone all week with grandkids in Washington DC. Catching up.
Thanks to everyone.
Have a peaceful Easter weekend.
$DUST #ShortPuts – Sold 1 DUST JAN 19 2018 20.0 Put @ 6.40. I have a number of Jan 90 Calls already short.
#SPXcampaign. No expirations today, but these two closed a couple minutes after the bell.
Closed SPX Apr 28th 2420/2445 call spreads for .20. Sold as part of a #CondorRoll for 2.10 on Mar 27th (the put side closed earlier today)
Closed SPX May 5th 2435/2460 call spreads for .20. Sold for 1.40 on Apr 5th.
Looking for more fun next week!
#OptionsExpiration #Weeklys #Apr13 – A rather light week for expirations but very profitable.
$SVXY and $UVXY weekly positions are all set up for the next 5-6 weeks, more $DUST Puts expired, and $NUGT stock was called away at a nice profit.
The big Monthly expiration is next week plus earnings trades are on the horizon.
— Expirations —
DUST (Weekly) Apr 13 2017 22.5 Puts
NUGT (Weekly) Apr 13 2017 8 Puts
SVXY (Weekly) Apr 13 2017 80 Puts
SVXY (Weekly) Apr 13 2017 85 Puts
SVXY (Weekly) Apr 13 2017 105 Puts
SVXY (Weekly) Apr 13 2017 110 Puts
UVXY (Weekly) Apr 13 2017 35 Calls
UVXY (Weekly) Apr 13 2017 40 Calls
— Assignments —
NUGT (Weekly) Apr 13 2017 10 Calls (Covered)
NUGT (Weekly) Apr 13 2017 10.5 Calls (Covered)
Bon weekend to everyone.
My only expiration was the 105 puts today.
$UVXY #CoveredCalls #IRA #Rollup –
Bought to close UVXY Apr 13 2017 21.0 Call/ Sold UVXY Apr 21 23.0 Call @ 0.80 Credit.
Plus added 2 points to the strike price.
$UVXY #ShortCalls #Afterhours – Sold 1 UVXY May 19 2017 40.0 Call @ 1.91
$SVXY #ShortPuts – #Afterhours fills
Sold 1 SVXY May 12 2017 75.0 Put @ 1.29
Sold 1 SVXY May 19 2017 75.0 Put @ 1.53
Sold 1 SVXY Jun 2 2017 75.0 Put @ 1.95
All I had left
UVXY $22.50 calls
All the rest of my positions were closed early or rolled.
$SVXY #ShortStrangles – I’m switching to some strangle trades to boost total return on margin.
Sold SVXY Apr 28 2017 150.0 Calls/75.0 Puts @ 0.63 total credit. Only two weeks out.
Last trade of the day. STO May 12, 65 puts @.55 cents.
STO Jun 16 $60 call @ $1.50, adding to position
STO June 2, 75 puts @1.90
Sold $UVXY May 19 40 calls @ 1.67. Highest strike.
STO January 2019, 60 call @ 7.30, following Iceman.
SVXY #ShortPuts #OptionLadder – sold all these today at life of contract highs with SVXY @ 122
SVXY May 12 2017 75.0 Puts @ 1.17
SVXY May 12 2017 80.0 Puts @ 1.59
SVXY May 12 2017 85.0 Puts @ 1.92
SVXY May 12 2017 90.0 Puts @ 2.61
Lowest strike in the new weekly series that started trading today.
Sold $SVXY Jun 2 75 puts 2 @ 1.60
#VXXGame
STO June 16, 65 puts @1.30
$UVXY #Rollup
Rolled Apr 13 $20 calls to Apr 21 $23.50 calls for even.
$UVXY #CoveredCalls #Rollup #IRA – Bought back my Apr13 21.0 Calls and Sold Apr 21 22.5.0 Calls @ 0.85 Credit.
Not waiting for these to expire(if they even do) and then trying to sell the new ones on Monday.
#SPXcampaign Several trades… stopped out of a couple put spreads to lighten the load in case we have a blackish Monday.
STOPPED: Bought to close $SPX Apr 20th 2325/2300 put spreads for 5.20. Sold for 3.00 on Apr 5th.
STOPPED: Bought to close SPX May 5th 2245/2220 put spreads for 2.10. Sold for 1.45 on Apr 3rd
#ReverseRoll Sold to Open SPX May 5th 2395/2420 call spreads for 2.25… same expiry as above spread it is replacing
Also:
Closed May 5th 2440/2465 call spreads for .25. Sold for 1.45 on Apr 3rd
Closed Apr 28th 2150/2125 put spreads for .20. Sold as part of a #CondorRoll for 2.10 on March 27th
$DUST #ShortPuts – Bought to close DUST Apr 13 2017 24.0 Puts @ 0.05 to avoid possible assignment.
At 1:00 the stock was at 23.66.
$SVXY #shortputs
STO Apr 21 $110 put for $1.35. Stock fell 10% this week, another 10% down – how likely- is $110 so should be safe.
$SVXY #shortputs
BTC my Apr 13 $120 put for $0.10 cr. Originally sold yesterday for $0.80
I had a roll to next weeks $110 ready, if needed.
STO May 5 $38 calls @ $0.77, I was late on these
#VXXGame. Sold a few positions… followed trades from Bistro members…
Sold SVXY May 19th 75 put for 1.30 (Tuesday)
Sold SVXY May 12th 65 puts for .60 (today)
Sold UVXY May 5th 40 call for .75 (today)
UVXY #VXXGame trades
Sold:
$UVXY May 5 40 calls @ .85 Highest strike
$UVXY May 26 40 calls @ 1.80 Highest strike.
$UVXY Jun 16 50 calls @ 1.80
$UVXY Jan 18 2019 60 call @ 7.30 Following Iceman in a #ClassicVXXGame trade from yesterday.
Sold To Open $X May 19 27 puts @ 1.29 modified TT trade by Mike @ 29 will manage to 50%
http://www.cnbc.com/2017/04/13/musk-says-tesla-set-to-unveil-semi-truck-in-september.html
#Futures – Been selling puts against the short emini gradually raising it’s basis. Closing the put for the weekend for a little extra protection.
Bought to Close /ES MAY 17 (Wk3) 2340 PUT @ 38.75
Anyone feel the rumble? That would leave a nice divot in North Korea too.
http://www.independent.co.uk/news/world/americas/gbu-43b-mother-of-all-bombs-massive-ordnance-air-blast-afghanistan-isis-a7682996.html
$UVXY #CoveredCalls #Rollup #IRA – Bought back my Apr13 21.5 Calls at a gain and Sold Apr 21 23.0 Calls @ 0.85 Credit.
Not waiting for these to expire and trying to sell the new one’s on Monday.
STO May 5, 85 put at 1.02 on 2 contracts
WFC, STO October 45 puts @1.21
$AMZN #CoveredCalls
Took these off for 65-75% of the premium received instead of waiting for expiration. Will reload on the next move up in the stock.
Bought to close $AMZN Apr 21 910 call @ 2.07 (sold for 6.00 on 3/31)
Bought to close $AMZN May 19 1000 call @ 2.80 (sold for 10.00 on 4/5)
IRA rolled AAL 41 put 4/21 out to 5/5 42 put for .81 credit. Originally sold for about .52 and was down to 0.07. Small account, only 2 contracts going.
Long weekend should give some good decay for my open TSO and WDC positions and maybe take some profits next week!
The $SKEW indicator has been above 130.00 since Feb 9th, the longest period above that level since its inception six years ago. Readings above 130.00 are typically a bearish sign, but it is not always a reliable indictor. (Readings below 120.00 are considered bullish)
FYI: European Markets Closed Monday. Below is a table of the European market closures over the holidays:
Index Maundy Thursday Good Friday Easter Monday
Germany’s DAX 30 Open Closed Closed
France’s CAC 40 Open Closed Closed
The U.K.’s FTSE 100 Open Closed Closed
Italy’s FTSE MIB Open Closed Closed
Spain’s IBEX 35 Open Closed Closed
Greece’s Athex Cmpsite Open Closed Closed
Portugal’s PSI 20 Open Closed Closed
Belgium’s BEL 20 Open Closed Closed
Netherlands’s AEX Open Closed Closed
Denmark’s OMX 20 Closed Closed Closed
Norway’s OBX Closed Closed Closed
Sweden’s OMX 30 Open Closed Closed
#SPXcampaign Sold to Open $SPX Apr 28th 2380/2405 call spreads for 4.75, with SPX at 2346.
I don’t trust the market and I have to spend most of the rest of the morning away in meetings.
BTC Apr 13 $21 calls @ $0.26, sold for $0.43
Still short $20’s and $22.50’s. Will deal with the $20’s later today as needed.
Good morning from Providence, Rhode Island
It is weird when the market doesn’t even open until 9:30.
#SPXcampaign
Bought to close SPX Apr 17th 2370/2395 call spreads for .40. Sold for 7.15 on Apr 3rd.
Bought to close SPX Apr 28th 2435/2460 call spreads for .20. Sold for 1.35 on March 30th.
Sold to open SPX May 12th 2420/2445 call spreads for 1.65, with SPX at 2340.
BOUGHT to Open SPX Apr 19th 2290/2265 bear put spreads for .75. This is in case we end the day lower and are poised for a dip into Monday. I will consider closing for a small loss today if that does not materialize.
$NUGT #ShortCalls – Sold a few more this morning
Sold NUGT May 5 2017 14.0 Calls @ 0.39
Sold NUGT May 12 2017 14.0 Calls @ 0.57
$TSCO #ShortPuts #FallingKnife – Sold TSCO OCT 20 2017 55.0 Puts @ 1.25
#Nikkei 225 Chart shows a clear break of support. It could only be the first of the big indexes to break down
http://www.finviz.com/futures_charts.ashx?t=NKD&p=d1
I love it when there is volatility.
$SVXY STO Apr13 $120 put for $0.80, expires tomorrow with stock at $123.50
$DUST #shortcalls
Yesterday I sold an April 21 $28 call for $1, today I bought to close for $0.35
$NUGT #ShortCalls – Sold NUGT Sep 15 2017 18.0 Calls @ 1.29. Highest strike.
$DUST #ShortPuts #Rollout – going out a few weeks and down a couple 0f strike prices.
Bought to close DUST APR 13 2017 29.0 Puts/Sold DUST MAY 5 2017 27.0 Puts for 0.20 Credit
Last week at this time it looked liked this week’s puts had a chance of expiring.
#SPXcampaign
Bought to close $SPX Apr 28th 2440/2465 call spreads for .20. Sold in a #CondorRoll for 2.75 on March 21st.
Bought to close $SPX Apr 13th 2370/2395 call spreads for .20. Sold for 9.30 on March 31st. Nice one. That was the 14th time I rolled that trade. Finally done.
The VIX is finally high enough it may be worth looking at some /es strangles. Small size, only one contract for every $6000 so you can cover or hedge it if there is an extended move. Looking at the May 17, 44 days to expiration. 2125 put/2445 call brings in about $420 per one lot. Could probably close in 2-3 weeks at a 50% profit or even sooner if the VIX crushes back down.
First need to free up some cash by closing out some WDC Jade lizards at the 75/90/92.5 strikes but hoping to get a few more days of theta decay before closing. They are only about 25% profitable and if I wait another week I should be able to close at 50%. Today is helping, there was finally a reversal. Some days it is better to be lucky than good, I was starting to have to worry about adjusting the short 90 calls.
#Market
Different market affects today with respect to volatility. Spot $VIX and $VVIX took an additional step higher today, but $VXX, $UVXY, $SVXY really not responding. Saw a similar thing after Brexit, implies to me that there are traders selling volatility today.
according to stocktwits-The VIX is now up 12% year-to-date. That’s the second biggest YTD move since 2008: https://stocktwits.com/schaeffers/message/80027913?utm_medium=community-twitter&utm_source=twitter.com&utm_campaign=outboundteam …
STO June 64 put @1.23
STO May 19, 75 put @1.35
$TSLA – Dan Fitzpatrick on OMM finally posts a trade I agree with
Sell TSLA May 2017 $320/$330 Bear Call Spread for $2.80 or better when TSLA was trading at 303.88. Stop: 318 Stock Above (Stop at 318 )
$SVXY #ShortPuts – Sold SVXY May 5 2017 90.0 Puts @ 1.54 with the stock at 123.
Assignment would be below the 2017 low on the stock.
TSCO #FallingKnife
Sold $TSCO Oct 20 55 puts @ 1.00 with the stock at 66.22, down 6% this morning on a warning of a Q1 revenue and earnings miss.
$NUGT #CoveredCalls #OptionLadder – partially covered with long stock, with a few short puts thrown in. All with the stock at 11.
Sold NUGT MAY 5 2017 13.5 Calls @ 0.37
Sold NUGT MAY 12 2017 14.0 Calls @ 0.43
Sold NUGT MAY 19 2017 15.0 Calls @ 0.40
Sold NUGT MAY 26 2017 15.5 Calls @ 0.43
Sold NUGT JUN 16 2017 16.0 Calls @ 0.64
Sold NUGT SEP 15 2017 18.0 Calls @ 1.25
STO May 5 $40 calls @ $0.70
STO May 12 $40 calls @ $1.24
$SVXY #ShortPuts – Sold SVXY May 12 2017 65.0 Puts @ 0.53 with the stock at 122.70. This is a gift!
$VXX #ShortCalls – Sold VXX May 12 2017 30.0 Calls @ 0.24. VXX is half as volatile as UVXY.
Highest strike.
$UVXY #ShortCalls #VXXGame – Sold UVXY May 5 2017 40.0 Calls @ 0.75. New Highest strike.
Strike 40’s are now available for all weekly expirations.
Sold $UVXY May 12 40 calls @ 1.35
$UVXY #ShortCalls #ClassicVXXGame – Sold 1 UVXY JAN 18 2019 60.0 Call @ 7.30
#VIXIndicator Today the VIX surpassed 14.96, which is 50% above the VIX low of February 1. Since this is the second time it happened (the first was on March 27th), with a significant pullback between the two signals, this constitutes a Downside Warning on the Indicator I developed to warn us of the possibility of drastic moves down in the SPX.
Many Warnings only result in a small amount of volatility. But the larger market corrections have all been proceeded by these signals. So be cautious with bullish positions. I will keep the site updated as the days progress, and until the Warning is canceled. See the VIXIndicator panel in the right column. ————->
#ShortCalls Rolled out my April 21st 24 and April 28th 25 Calls out and up to May 19th for a measly 0.21 credit. So call me Chicken Little. Cluck! Cluck! Cluck!
#Market
Interesting that the Russel 2000 has been positive most of the day and the mid caps are only down $0.03 ($VO). One of the folks on CNBC today mentioned that the VIX equivalent in Europe is in the 20’s and that traders have gone short that volatility and are buying volatility in the US as a hedge. Might explain what drove us into front month contango while the rest of the curve really has not been affected, looks normal and orderly.
STO May 5, 81 put @.85
STO May 5, 82 put @.95
STO May 5, 85 put @1.15
