$SVXY #ShortPuts – filled these…

$SVXY #ShortPuts – filled these on the drop to 123 in SVXY
Sold 1 SVXY Apr 28 2017 87.0 Put @ 1.16
Sold 1 SVXY May 5 2017 83.0 Put @ 1.22
Sold 1 SVXY May 19 2017 76.0 Put @ 1.52
Sold 1 SVXY May 19 2017 77.0 Put @ 1.61

Jan NUGT calls

Sold $NUGT Jan 19 2018 25 calls @ 1.45

UVXY

#IRA – Adding to an existing position…

Sold UVXY SEP 15 2017 30.0/40.0 Bear call spread @ 1.25

WYNN adjustment

#ShortStrangles – As long as the stock is grinding around in between the strikes I’ll keep rolling for good cash.

Rolled Apr 13th 120/105 inverted strangles to Apr 28th @ 1.80 credit.

This is another roll into the week before earnings…

$UVXY $SVXY

#VXXGame
Unfortunately I was tied up in meetings until noon Central, so missed the best prices of the day. Made a few trades but holding back. With the downside warning in place, will be a bit cautious. Contango in the VIX futures got much steeper today.

BTC $UVXY Apr 13 $40 calls @ $0.01 (sold for $0.50)
BTC $SVXY Apr 21 $70 puts @ $0.04 (sold for $0.95)
STO $UVXY May 26 $30 calls @ $2.10
STO $UVXY May 19 $39 calls @ $1.20
STO $UVXY May 12 $30 calls @ $1.75
STO $SVXY May 5 $80 puts @ $0.66
STO $UVXY Apr 13 $21 calls @ $0.46, high risk so stayed small

Holding onto a lot of dry powder in case things get sporty from here.

SPX call roll sold

#SPXcampaign Sold to Open $SPX April 19th 2355/2380 call spreads for 7.60, as a roll from stopped put spread earlier.

Got an extra 1.10 on this roll, but it’s possible this will blow up in my face if we saw a bottom today. For now, I’m trusting my signal that there will be more weakness in the coming days.

REGN adjustment

#ShortStrangles – Pretty aggressive but with earnings the following week a roll should be easy…

Rolled Apr 28th 410.0 call down to 380.0 @ 3.62 credit (filled well above the mid)

Current position is now Apr 28th 380 straddle @ 16.32

$SVXY #ShortPuts #IRA – covered…

$SVXY #ShortPuts #IRA – covered some of this weeks Puts to get buying power.
Bought to close SVXY APR 13 2017 85.0 Puts @ 0.01. They won’t trade any lower.
Replaced them with:
SVXY MAY 5 2017 82.0 Puts @ 1.05
SVXY MAY 12 2017 75.0 Puts @ 0.95
SVXY MAY 12 2017 70.0 Puts @ 0.75

ALXN

STO January 85 puts @3.60

TLT adjustment

#PerpetualRollingStrangles – Collecting some more nice weekly dividends…

Rolled Apr 13th 119.5 calls to May 5th 120.0 @ .09 credit
Rolled Apr 13th 121.5 puts to Apr 21st 122.0 @ .76 credit
Rolled Apr 13th 122.0 puts to Apr 21st 123.0 @ .92 credit

And to add a few more long deltas I’m pulling the May monthly puts in and up a little:

Bought to Close TLT MAY 19 2017 116.0 Puts @ .32 (sold for .69)
Sold TLT APR 21 2017 123.5 Puts @ 1.53

SPX puts stopped

#SPXcampaign After the Warning fired this morning, I closed SPX April 12th 2350/2325 put spreads for 6.50. Tried to sell a call spread for a roll but didn’t get filled… should have been more aggressive.

$SVXY

#ShortPuts  Joined in Sold May 19th 80 Puts @ 1.87.

SVXY

Sold $SVXY May 12 80 puts @ 1.48

Added:
Sold $SVXY Apr 21 100 puts @ 1.05

SVXY

#IRA #ShortPuts – Re-loading but plenty of dry powder for lower strikes.

Sold SVXY MAY 19 2017 90.0 Put @ 2.75
Sold SVXY JUN 16 2017 80.0 Put @ 2.75
Sold SVXY SEP 15 2017 70.0 Put @ 3.25
Sold SVXY JAN 19 2018 60.0 Put @ 4.00

SVXY: Adding to 5/26 at a lower strike

Sold $SVXY May 26 70 put @ 1.20

SVXY

#ShortStrangles – Adding another one. This is my widest one so far in this expiration.

Sold SVXY JAN 19 2018 55.0/255.0 Strangle @ 5.75

SVXY

STO May 19, 67 puts @.81

$UVXY #ShortCalls #VXXGame – staying…

$UVXY #ShortCalls #VXXGame – staying small at the top of the chain with the stock at 20.44
Sold 1 UVXY MAY 12 2017 30.0 Call @ 2.14
Sold 1 UVXY MAY 19 2017 39.0 Call @ 1.59
Sold 1 UVXY MAY 26 2017 30.0 Call @ 2.63

UVXY

STO September 60 calls @2.52, staying small.

More UVXY

Sold $UVXY Apr 28 39 calls @ .60. Highest strike.
#VXXGame

Added at highest strike:
Sold $UVXY May 12 30 call @ 2.10
Sold $UVXY May 5 39 calls @ .85

Added some more:
Sold $UVXY Apr 21 30 calls @ .53

2-week trip pending

#Market We leave tomorrow for a 2-week trip to Boston, New York City, and Milwaukee. I plan to meet up with Bistro follower Ralph in NYC… let me know if anyone would like to connect in any of those cities.

And as most trading website moderators claim, when I travel the market seems to be volatile… sure enough, we got a Downside Warning the day before I leave. So I guess if nothing else worries you, consider my travel plans the market indicator!

$SVXY #ShortPuts #IRA – No…

$SVXY #ShortPuts #IRA – No need to go out any farther than the weeklys with the stock at 125.
Sold SVXY May 5 2017 83.0 Puts @ 1.05
Sold SVXY May 12 2017 80.0 Puts @ 1.05
Sold SVXY May 19 2017 67.0 Puts @ 0.67
Sold SVXY May 26 2017 65.0 Puts @ 0.65

$NUGT #CoveredCalls #IRA – Sold…

$NUGT #CoveredCalls #IRA – Sold NUGT Apr 13 2017 10.5 Calls @ 0.28. These gapped up this morning.

SVXY

In my IRA, STO January 2019 75 puts @16.50

Downside Warning fired

#VIXIndicator We just got a second signal this morning so we are now under a Downside Warning for the #Market. Expect more volatility and a downward bias. Be careful selling put spreads, or avoid them. Consider call spreads on rallies and even long put positions.

I will post more details on the warning later today.

#VXXGame trades Sold $SVXY May…

#VXXGame trades
Sold $SVXY May 26 75 put @ 1.25
Sold $UVXY May 26 30 call @ 2.20 (highest strike)

$VIX

Downside warning just fired.

$UVXY

BTC Apr 13 $40 calls @ $0.01 (sold for $1.45 and 0.40)
STO May 5 $39 calls @ $0.60
STO May 19 $39 call @ $1.20

SVXY

STO My 26, 70 puts @ .85

STO May 26, 75 puts @1.08

Hello everyone! I have been…

Hello everyone! I have been following for a month or so now. Good to find others that trade the same way I do (tasytrade, don fishback style). Anyway, I have been trading options seriously since 2004. I have almost exclusively graduated to selling options as over the years most of my trades that worked out involved selling an option first and not picking a direction. However, I have found taking a slight directional bias can increase returns.

Lately I have traded mostly individual names (better premiums with the low vol.). I tend to start by selling a put 1-4 weeks out. Delta 30 or lower and try to collect at least 1.00 or very close. If I get assigned convert to covered calls. I will also roll options until I can close it, make some money on it, or scratch it and start over. I have found about 16 names that trade well like this with good premiums that cycle with a range. I am currently in a TSO position that was assigned at 87.5 but because of rolling have my cost basis down to 82. 1 more point I am back to profit, today helped! Or 1 more week of rolling and will be break even.

I will also sell /es or /cl or /gc futures strangles but will always keep enough of a cash reserve to cover those positions if there is an extended move. Burned big time Aug. 2015 when I was short 50 /es contracts but only had enough cash to cover half of them. A painful lesson but a rule I will never break again. With those I will usually start 30-45 days out with a delta of 4-16 depending on directional bias. They decay to delta 4-8 in about 2-4 weeks and can take 50% off the table as tastytrade recommends. In case of an extended move will go long or short some contracts as a hedge and to get some hard deltas. Once the move is over close at a profit and keep the options decaying or let the options assign and close the future. Those are the trades that supercharge the equity curve but they don’t happen that often.

Thanks for the ideas. Look forward to working with everyone and hope I can add some ideas to the pile. I will usually not be long winded, this will be my longest post. As I see how you post trades I will start adding some. Usually trade on Thurs. (day off) and Fri. with rare mid week adjustment if needed.

Cheers, Chris Davis

A rather Nice day in YM

#futures

A good trade day today in the intraday….

ym-monday

A Trade and Tid Bits

Trade: BTC $XOP May 19 34 puts @ .31, managed at 50%.

Tid Bits: #education #longterm #IRA
For sometime I’ve been receiving a free newsletter “My Traders’s Journal” authored by Alex Fotopoulos, who writes with an easy-to-read conversational style, explaining the what, why and how he set up his trades, much like our Options Bistro members…no hype, no sales pitches. I’ve posted last Friday’s release below for a couple of reasons: the analysis of April 7 SPY chart and the book of trades he made for the year of 2012, which might help others learning options, I think I remember @optionshane enquiry. So check out the email, blog and book…
SPY Chart – April 7, 2017
http://feedproxy.google.com/~r/MyTradersJournal/stks/~3/LVoammModtw/?utm_source=feedburner&utm_medium=email

Last bit:
Last month @fuzzballl posted a “quick-read” called “The 3% Signal: The Investing Technique That Will Change Your Life” by Jason Kelly. Well, how could I pass up the chance to read an investment book while sunning in PSP for a couple of weeks? Uh, after four weeks, I still haven’t finished the book, largely due to extended pool and happy hour time. So if you are thinking of a method for your long term/IRA accounts take a look at jasonkelly.com. And also checkout some of the analyses of the set up at the url below.
http://www.mymoneydesign.com/personal-finance-2/stocks/does-the-3-signal-investment-strategy-really-work
Thanks @fuzzballl!

$UVXY #ShortCalls – new weeklys,…

$UVXY #ShortCalls – new weeklys, new strikes – with the stock at 18.50.
Sold UVXY May 12 2017 30.0 Calls @ 1.37
Sold UVXY May 26 2017 30.0 Calls @ 1.76

$SVXY #ShortPuts – new weeklys,…

$SVXY #ShortPuts – new weeklys, new strikes – with the stock at 131.
Sold SVXY May 26 2017 70.0 Puts @ 0.80

SVXY

Just after the close
STO May 26 $80 put @ $1.25
STO May 26 $85 put @ $1.70
Followed @optioniceman trade this morning

Why UVXY is going up?

Why UVXY is going up?

SVXY

STO May 19, 90 put @2.03 on 1 contract. Now we are getting some volatility.

SVXY

#ShortPuts – Margin freebie against short calls…

Sold SVXY JAN 19 2018 55.0 Put @ 2.50

$SVXY

BTC Apr 13 $85 puts @ $0.02 (sold for $0.40). Taking some cheap positions off the table.

SVXY

In my IRA, STO January 2019, 75 puts @14.40

News – UAL

#short

Maybe a good time to short UAL, after seeing the news…

$SVXY

STO May 12 SVXY $80 puts @ $0.80

SPX puts sold

#SPXcampaign Sold to Open $SPX May 12th 2210/2185 put spreads for 1.40, with SPX at 2354.

SVXY

STO May 26, 80 put @1.10

SVXY

STO June 16, 90 put @2.92 on 1 contract.

#market Looks like someone launched…

#market

Looks like someone launched a sell program @ 10:30 Central.

GOOGL adjustment

#LongCallDiagonals – Taking a little risk off the table with this big up move finally stalling and earnings coming up. Not up as much as the AMZN trade but still up considerably from Nov 15th when the trade started.

Rolled Jan 2019 650 call up to 750 @ 74.08 credit.

$AMZN BuPS to complete IC

Sold BeCS May 19 1030/1020 last week for 1.22 when AMZN at about 922.
Today completing IC on this bounce with BuPS May 19 835/825 for 1.58.
Will look to manage either leg at about 50-60% max profit.

NVDA

#IRA #ShortPuts – Caught a downgrade last week by some “expert”. Looks like it’s heading to the 200ma so taking some risk off. I’ll look to sell again during or after earnings.

Bought to Close NVDA APR 21 2017 95.0 Puts @ .87 (sold for 1.75)
Bought to Close NVDA APR 21 2017 100.0 Puts @ 2.95 (sold for 3.10)

SVXY

STO May 26, 90 put @1.85  on 1 contract.

SVXY

STO June 16, 80 put @1.70 on 1 contract.

$SVXY

Sold to open April 28th 115 Puts at 2.45 with $SVXY @ 135.87.  Just a bit early on the trade.  Will roll as needed.

$SVXY #ShortPuts – new weeklys,…

$SVXY #ShortPuts – new weeklys, new strikes – with the stock at 135.
Sold 1 SVXY May 26 2017 85.0 Put @ 1.60
Sold 1 SVXY May 26 2017 80.0 Put @ 1.20

SPX calls closed, calls sold

#SPXcampaign
In pre-market, bought to close $SPX Apr 20th 2420/2440 call spreads for .20. Sold for 1.50 on March 24th.
Just now, sold to open SPX May 12th 2440/2465 call spreads for 1.40, with SPX at 2363.

Econ Calendar for week of 4/10/17

Short Week for US markets, Friday is a holiday.
Screen Shot 2017-04-10 at 6.00.31 AM

VIX Indicator and SPX Chart have been updated

Be sure to periodically click “Home/REFRESH” (upper left) to keep features on the right hand column updated.

Expiration

#optionsexpiration
$AMZN 800/820 BUPS Thanks @prvtrader
$SPX 2240/2265 BUPS (double usual size) Thank you @jeffcp66

Options Expiration 4/7/17

#OptionsExpiration #VXXGame #CoveredCalls #SPXcampaign

–Expiring–
PANW 125 covered call
UVXY 31 calls

Also, closed earlier today: SPX Apr 10th 2320/2295 put spreads for .20. Sold for 1.75 on March 29th.

$ALXN #ShortPuts #FallingKnife – Sold…

$ALXN #ShortPuts #FallingKnife – Sold 1 ALXN Aug 18 2017 90.0 Put @ 2.45

#OptionsExpiration #Weeklys #Apr7 – first…

#OptionsExpiration #Weeklys #Apr7 – first expiration in quarter 2.
Everything expired. No Assignments

— Expirations —
DUST (Weekly) Apr 7 2017 22.5 Puts
DUST (Weekly) Apr 7 2017 38 Calls

NUGT (Weekly) Apr 7 2017 7.5 Puts
NUGT (Weekly) Apr 7 2017 8 Puts
NUGT (Weekly) Apr 7 2017 10 Calls (Covered)
NUGT (Weekly) Apr 7 2017 11 Calls (Covered)

SVXY (Weekly) Apr 7 2017 85 Puts
SVXY (Weekly) Apr 7 2017 86.5 Puts
SVXY (Weekly) Apr 7 2017 110 Puts
SVXY (Weekly) Apr 7 2017 117 Puts
SVXY (Weekly) Apr 7 2017 146 Calls

UVXY (Weekly) Apr 7 2017 17.5 Calls (Covered)
UVXY (Weekly) Apr 7 2017 18 Calls (Covered)
UVXY (Weekly) Apr 7 2017 18.5 Calls (Covered)
UVXY (Weekly) Apr 7 2017 19 Calls
UVXY (Weekly) Apr 7 2017 19.5 Calls
UVXY (Weekly) Apr 7 2017 20 Calls
UVXY (Weekly) Apr 7 2017 31 Calls
UVXY (Weekly) Apr 7 2017 35 Calls
UVXY (Weekly) Apr 7 2017 40 Calls

#OptionsExpiration for 4/7 $SVXY 04/07/2017…

#OptionsExpiration for 4/7
$SVXY 04/07/2017 130 puts
$UVXY 04/07/2017 19 calls
$UVXY 04/07/2017 30 calls

No assignments.

$UVXY

Just before the close, STO $UVXY Apr 13 $20 calls @ $0.43, stayed small.

$UVXY #ShortCalls – Bought to…

$UVXY #ShortCalls – Bought to close UVXY APR 7 2017 17.5 Calls @ 0.05 to avoid possible assignment with the stock at 17.50 at the close

OptionsExpiration

$SVXY $86.5 puts
$SVXY $90 puts
$UVXY $28 calls
$UVXY $29.5 calls
$UVXY $31 calls
$UVXY $35 calls

Quite a few contracts expiring again this week, just in time perhaps.

Have a great weekend everyone.

SPX sideways

#SPXcampaign #Market Nothing seems to shake us out of this consolidation. Who knows how long it will last? VIX and VXX are showing some signs, as @optioniceman points out. But until we get the move either way, theta has been doing wonders on my account. I’ll keep daring the market:

Sold to Open $SPXPM Apr 21st 2275/2300/2390/2415 iron condors for 4.10.

$VIX – the 1st and…

$VIX – the 1st and 2nd month futures are in backwardation. Further VIX rallies are likely.
http://vixcentral.com/

$NUGT #CoveredCalls #Rollout – repeating…

$NUGT #CoveredCalls #Rollout – repeating my weekly roll in an IRA account. The best one so far.
Bought to close NUGT Apr 7 2017 10.0 Calls @ 0.02
Sold NUGT Apr 13 2017 10.0 Calls @ 0.35 – only 4 trading days next week as the options expire on Thursday.

#shortcalls UVXY Sold June 16,…

#shortcalls UVXY
Sold June 16, 60 call for .54. Could have gotten more earlier-top-o-the chain, over 1000 traded today.

$UVXY

BTC Apr 13 $35 calls @ $.02, sold on 3/24 for $.45

Have other orders in to close out positions at .01 or .02. Like others of you, just booking some early at near max profit in case we get a chance to redeploy.

SPX calls sold

#SPXcampaign On the pop up to 2363, filled on this roll:
Sold to Open $SPX April 20th 2375/2400 call spreads for 7.50. Makes an iron condor with the Apr 20th 2325/2300 put spreads, sold for 3.00 earlier this week.

SPX calls closed

#SPXcampaign Bought to close $SPX Apr 13th 2400/2425 call spreads for .20. Sold for 3.25 on March 23rd.

Arab Spring and debt ceiling….any similarities to now? Hmmmm…

https://en.m.wikipedia.org/wiki/Arab_Spring

https://en.m.wikipedia.org/wiki/Black_Monday_(2011)

SVXY

#ShortPuts – Playing it safe near term. Will be looking out in time and much lower strikes…possibly adding to Jan 2018 strangles.

Bought to Close SVXY MAY 19 2017 80.0 Put @ 1.08 (sold for 1.35)
Bought to Close SVXY JUN 16 2017 70.0 Put Limit @ 1.13 (sold for 3.25)

And in an #IRA :

Bought to Close SVXY APR 21 2017 105.0 Put @ .80 (sold for 2.50)
Bought to Close SVXY APR 28 2017 100.0 Put @ 1.41 (sold for 2.20)
Bought to Close SVXY MAY 5 2017 100.0 Put @ 1.73 (sold for 2.75)
Bought to Close SVXY MAY 12 2017 95.0 Put @ 1.97 (sold for 2.25)

Since this is a smaller IRA that is usually fully invested in SVXY I’m booking these and looking for lower strike opportunities vs getting tied up for months in possibly underwater positions if something crazy happens.

Reducing SVXY

Following Iceman’s lead, I’m closing some positions to reduce exposure, while making some room for opportunities that may arise from further volatility.
Bought to close $SVXY Apr 21 95/155 strangles for .60. Sold for 2.73 on 3/13.

$ALXN #ShortPuts #FallingKnife – Sold…

$ALXN #ShortPuts #FallingKnife – Sold ALXN Aug 18 2017 85.0 Puts @ 1.65 with the stock at 114