GDXJ

Yesterday, I followed Bobbie with a 37 strangle @2.65 for January 13 expiration. We need more volatility in gold next week.

New all-time high on the SPX

We are still above a new low on the VIX, but this should be the second day of VIX close below 11.73…. Bullish #VIXIndicator

SPX puts closed

#SPXcampaign Bought to close $SPX Jan 11th 2225/2200 put spreads for .20. Sold as part of a condor for 7.25 on Dec 20th.

$ILMN put spread

STO Jan 20 130/125 BuPS for 1.03
$ILMN has broken upward above the 50 day moving average. Certainly could pull back to it, but suspect 130 is safe in 2 weeks. Will manage at 50-60% profit if I’m correct.

REGN…oops

Earlier this week sold a Feb 3rd 335/412.5 strangle thinking that was the week before earnings. Looking a little closer, they seem to always announce late in the week during the first week of the month. Since that might be earnings I’m closing it for a .15 loss and replacing it with the week prior.

Sold REGN JAN 27 2017 322.5/395 Strangle @ 5.40 (5.25 with the loss on the “roll”)

AMGN

STO January 27, 150 puts @1.45

I meant to sell January 20 put had a fat finger.

$FB calander spread Jan 13…

$FB calander spread Jan 13 125 c/Jan 20 125@.11

AMZN ROLL

BTC January 6, 770 call @19.02

STO January 20, 775 call @21.37

So far, I have earned 12.50 in premium from selling weekly options since December 23, when I put the trade on. I also shorted the 500 puts in 2019 for a credit of 27.50 points but I am not counting that as a profit until it expires.

IBB

Stock covered by 270 calls this week…still debating. Maybe roll or let it go and hope for a pullback? Basis at 262.62…

WYNN

#PerpetualRollingStrangles #CoveredCalls – Rolled 88.5 calls out out to next week’s 89.5 @ even.

TLT

#PerpetualRollingStrangles – Rolling back over now so selling the rest of the short call position.

Sold TLT JAN 20 2017 123.0 Calls @ .60

AMZN…same as GOOGL

#ShortCalls #LEAPS – Rolling out but not up…sliding these short calls out along the 20ma. Planning on collecting max premium next 2 weeks then rolling way up into earnings if still ITM. Sold against a long Leap call.

Rolled 770.0 call out to next week 770.0 @ 3.26 credit.

$DUST #ShortPuts #RollOut – I’ve…

$DUST #ShortPuts #RollOut – I’ve rolled all my short Puts expiring today with strike prices in the mid 40’s out a month and down to strike prices in the high 30’s for small credits.
Boy was I early on those trades 😦

GOOGL

#ShortCalls #LEAPS – Rolling out but not up. Planning on collecting max premium next 2 weeks then rolling way up into earnings if still ITM. Sold against a long Leap call.

Rolled 802.50 call out to next week 802.50 @ 2.25 credit.

SVXY

STO January 2018, 195 call @6.05

STO January 2018, 200 call @4.45

$FB BTO Jan 20 125…

$FB BTO Jan 20 125 Call @.71 will hedge next week if move continues

RH…buh bye

#Earnings – Not liking the way this is acting. Dan made a comment that he was in a RH store the other night and it was dead and the employees looked bored…LOL Since this is from an old earnings trade and not a long term position I’m interested in, I’m unloading the stock and letting the remaining short calls expire. Net loss of 90 cents per share on a small position. If this 30 level doesn’t hold, the mid 20’s could be in play.

$FB roll Jan 6 120…

$FB roll Jan 6 120 c to Jan 13 122 .30 debit BuCS@1.12
Exp today 116/117 BuCS and 116/118 BuCS

GOOGL ROLL

BTC January 6, 810 call, and

STO January 20 820 call for a credit of 1.25

REGN dumping

REGN dumping

December JOBS report

#Jobs #market

+156,000 jobs in December
4.7% unemployment, up .1%
Avg hourly earnings jumped 10 cents
2.9% annual gain for wages in 2016
Labor force participation unchanged (and still low) at 62.7%

November revised upward from 178,000 to 204,000
October revised downward from 142,000 to 135,000

2016 total non-farm: 2.2 million
About 500K fewer than 2015

Dec unemployment is at 4.7%

Dec unemployment is at 4.7%

#FUZZBALL – Your GLD update…

@ Fuzzball –

Your GLD update was detailed and very interesting, really enjoyed it and would ask that you do more of it. Really very helpful as were the comments that followed. Helps me see how you approach a Setup and what results to expect. Please keep it up with the Updates…..they are not boring or too long. :))

The VIX Indicator and SPX…

The VIX Indicator and SPX Charts have been updated
Non-Farm Payroll (Jobs report) will be released at 8:30am ET

Trades

#spxcampaign
$SPX 1/13 2325/2300 BECS @ 1.20
$SPX 2/3 2135/2160 BUPS @ 1.45

Closed Early
$AMZN 720/770 BUPS @ 55% profit (partial position) Sold in October. Was way down at one point.

#bullputspread FB closed Jan. 20…

#bullputspread
FB closed Jan. 20 115/105 spread for .30, sold for 1.33 on Dec. 23.

SPX ITM call-roll

#SPXcampaign Sold to Open $SPXPM Jan 20th 2275/2300 call spreads for 8.60, completing the #CondorRoll from earlier today.

SPX trades closing

#SPXcampaign STOPPED, BTC $SPX Jan 13th 2280/2305 call spreads for 4.40. Sold for 4.70 on Dec 30th. Will look to roll tomorrow.

BTC SPX Jan 13th 2175/2150 put spreads for .20. Sold for 2.00 on Dec 14th.

CMG

$ShortPuts #IRA – Nice bounce so thinning out some more. Decks are cleared for earnings on Feb 2nd.

Bought to Close CMG MAR 17 2017 275.0 Put @ .83 (sold for 4.10)

DUST calls closing

#ContangoETFs #ShortCalls
BTC DUST Jan 20th 80 call for .05. Sold for 5.00 on Nov 17th
BTC DUST Jan 27th 107 call for .05. Sold for 3.00 on Dec 20th

#spxcampaign STO 17 FEB 17…

#spxcampaign STO 17 FEB 17 2135/2035 BuPS @4.50

#spxcampaign STO 3 FEB 17…

#spxcampaign STO 3 FEB 17 2170/2070 BuPS @4.00

#spxcampaign STO SPX 10 FEB…

#spxcampaign STO SPX 10 FEB 17 2165/2065 PUT @5.70

SHOP

This is am IPO that is making a new high.

STO February 17, 45 put @2.60

RH

#CoveredCalls – Just keep selling these at breakeven strikes. Would love to be done with it soon so I can get ready for earnings season. Was assigned from an earnings play at 35.05. Basis now reduced to 31.50.

Sold RH JAN 13 2017 31.5 Calls @ .54

SPX ITM roll, half done

#SPXcampaign Bought to close $SPX Jan 13th 2260/2285 call spreads for 11.15
#CondorRoll Sold to Open $SPXPM Jan 20th 2225/2200 put spreads for 2.65
Going to sell either the 2270 or 2275 call spread later today or tomorrow, when SPX is higher.

AMZN #CoveredCalls Sold $AMZN Feb…

AMZN #CoveredCalls
Sold $AMZN Feb 17 870 call @ 5.00

STZ

STO July 120 put @3.20

GDXJ BTO Jan 13 $35.50…

GDXJ BTO Jan 13 $35.50 Straddle

TLT

This was a stand alone trade playing the bounce. Not part of the long term position…

Bought to Close TLT JAN 20 2017 116.5 Puts @ .13 (sold for 1.11)

SPX puts sold

#SPXcampaign Filled on additional two spreads as the mild weakness turned into an actual drop. We’re still above Tuesday’s close, and provided we stay above 2260 I won’t change my outlook.

Sold to Open $SPX Jan 23rd 2200/2175 put spreads for 1.45
Sold to Open $SPX Feb 3rd 2160/2135 put spreads for 1.45

GLD adjustment and update (skip if it’s boring) :) :)

Update on one of my many TT style managed strangle positions. Basically, starts out as a wide strangle and is managed with credit rolls as the stock moves and held forever or until a perfect exit presents itself. I look at it like a dividend position that pays weekly. This has been a great test of this strategy in a worse case scenario of a massive sell off just after the position was started.

Long story short, right after selling the original strangle gold began imploding so I continued selling weekly calls all the way down after rolling the puts out about 3 months and leaving them at the same strike (nice credit). The entire time position size was about half until I could get more comfortable with the style.

Now, with GLD rebounding my short calls are finally ITM so here’s the adjustment. I’m getting a little bullish at least up to the 50ma resistance.

Rolled part of this week’s 109 calls to Feb monthly 119 puts @ 3.20 credit adding to original puts to get a full position.

Then, paired off with that, rolled remaining 109 calls to Feb monthly 113 calls at 1 for 5 ratio for 6.60 net credit.

So now, in a Feb monthly 119/113 inverted strangle full (but still small) position. If GLD starts rolling over again I’ll continue rolling down short calls slightly for a credit and roll the puts out again a few months. The cool thing about this is so far the trade has only been using about 3500 in margin (slightly more now with a full position) and has brought in a grand total of 37 points in premium in just a few months. That’s a decent dividend! The key to these types of positions for me is to forget about the P/L on the original position and accept the fact that it’s a long, long term play and try to collect as much premium as you can all the time. If it’s a ticker that’s not going to zero and uses little margin then sell, baby, sell!

Just an update for anyone interested…I think someone had told me to keep them updated so there it is.

Following The Leader

#spxcampaign
$SPX Jan 27th 2155/2180 BUPS for 1.30.

OT

Over on SMM, someone said that Gartman turned bullish. Not a good sign.

Closing BOIL

Bought to close $BOIL Mar 17 30 calls @ .20. Sold for 1.25 on 12/9. Shutting this down about 2 1/2 months early, about 85% max profit.

SPX bullish trades

#SPXcampaign As I posted yesterday, the #VIXIndicator is close to signaling another push higher in the next 10 days or so. Using this morning’s weakness to get positioned.

Sold to Open $SPX Jan 27th 2180/2155 put spreads for 1.40.
BOUGHT to open $SPX Jan 13th 2300/2325 call spreads for 1.45.

$SPX iron condor

STO Feb 17 2370/2360/2120/2110 @ 1.20

IRDM

STO February 10 puts @.45 cents.

RGLD covered call

#CoveredCalls #Earnings #Gold
STO $RGLD Feb 17th 75 covered call for 1.25

Looking for a bullish run in gold miners… DUST dropping today, lowest since the election.

$STZ

STO Feb 17 $135 puts @ $1.30

Basically hasn’t been below that level since Nov ’15

#spxcampaign $SPX 1/9 2230/2255 BUPS…

#spxcampaign
$SPX 1/9 2230/2255 BUPS @ 2.30 Following @jeffcp66

Closed Early
$SPX 1/9 2165/2190 BUPS @ 90% profit

#shortputs
$T Rolled 1/20 35 put to 1/20 42.50 put for added .60. Willing to add this decent yielding stock to my current full position of $T. Hopefully my $T will not runneth over.

Is it just me?

When the market is like this and I’m making some decent cash, why do I focus on what I screwed up on? Thinking I should’ve done better…I gotta quit that!

Learning how to trade options at TT.

#optionseducation @optionshane
Several have recently posted questions about how to trade options those members might checkout a new series of “WDIS: Where do I start?” on tastytrade.com called , “Options 101.” This series is going to start at the beginning with understanding the basics and continue through advanced options. It will be a long series so one might want to check TT’s progress then jump in at an appropriate skill level.

VIX-Indicator very bullish

#VIXindicator Today we are hitting a place on the Indicator that is similar to Dec 5th, which you can see was right before another huge bullish pop. Provided no bad news smacks the market, we could see a very big run up on Friday, perhaps sparked by the Jobs Report.

Adding to Jan 2018 position

Sold $SVXY Jan 19 2018 190 call @ 6.00. Adds to position I put on this morning at more than $1 better premium.

SPX Trade

#spx

Jan 4 STO 2 Feb 03 2080/2180 BUPS @ 4.51

SPX Puts Closed/Rolled

#spxcampaign

Close and Rolled SPX Short side puts
Dec 23 Sold 2 Jan 31 2140 short puts @ $7.70
Jan 04 Bought 2 Jan 31 2140 short puts @ $3.20
Gain @ 60%
Jan 04 Sold 2 Jan 31 2180 short puts @ $5.50

SPX trades today

#SPXcampaign
Bought to close $SPX Jan 9th 2190/2165 call spreads for .20
Stopped: Bought to close Jan 9th 2275/2300 call spreads for 4.50.
Both of the above were sold as an iron condor last Thursday for 4.25. Will look to roll again this week.

#ReverseRoll from yesterday’s stopped call spread:
Sold to open $SPX Jan 9th 2255/2230 put spreads for 2.85. I have not had luck with ATM put spreads yet, but I’ll keep trying.

SPX Puts Closed

#spx
Closed out Jan 13 BUPS
Dec 31 Buy 1 Jan 13 2100 put -$0.75 -$75.00
Dec 20 sell 1 jan 13 2200 put $5.70 $570.00
Jan 4 Buy 1 jan 13 2200 put -$1.90 -$190.00
Jan 4 Sell 1 jan 13 2100 put $0.30 $25.00

gain 67%

$FB BTO Jan4 116c/STO 118…

$FB BTO Jan4 116c/STO 118 @.95 debit

REGN

#ShortPuts – This thing could go anywhere so managing another one aggressively in the #IRA ….

Bought to Close REGN Jan 20 2017 320.0 Put @ .60 (sold for 5.00)

Still holding a few others…short puts and strangles.

THC

Nice little pop there….see if she holds!

$UAA #CoveredCalls – Sold UAA…

$UAA #CoveredCalls – Sold UAA FEB 17 2017 35.0 Calls @ 0.35

CMG playing it safe

#ShortPuts #IRA – This thing has been under fire for awhile. Booking it on this morning’s bounce. Could easily be down 20 tomorrow. Freeing up a nice chunk of change as well…

Bought to Close CMG Jan 06 2017 370.0 Put @ 1.05 (sold for 4.80)

Still short a March 275.0 so will probably book it on any weakness…

SVXY

STO 1 contract, January 2018, 190 call @5.40

SVXY call

Sold Jan 19 2018 190 call @ 4.78. Highest strike.

SPX puts closed

#SPXcampaign In pre-market, Bought to close $SPX Jan 13th 2130/2105 put spreads for .20. Sold for 1.30 on Dec 12th.

SPX Put Sold

#spxcampaign
$SPX 1/23 2140/2165 BUPS @ 1.70 Thank you @jeffcp66
$SPX 2/3 2100/2125 BUPS @ 1.45 Thank you @jeffcp66

#shortputs
$NVDA 2/3 90 puts @ 1.75 Thank you @fuzzballl

#shortcalls
$REGN 1/13 382.50 call @ 7.00 Covered

SPX Puts Closed

#spxcampaign
$SPX 1/4/2017 2200/2225 BUPS @ 81% (Forgot to pull BTC order, but happy I had one)

SPX calls closed

#SPXcampaign Bought to close $SPX Jan 6th 2260/2285 call spreads for 3.35. Sold for 9.85 on Dec 23rd. Since this got close to 9.00 on this morning’s pop up, I was glad to get out cheaply by being patient. This will be easy to roll so I will do it tomorrow.

My Daily ES trade

#futures

Bought 5 ES contracts as ES bottomed in its sideways channel at 12:30 at 2240, set my stop at 2239, trailed the stop up each point of movement, Exited my trade at 2246, for a 6 point gain…exited at 2pm, my cutoff time..as I dont trade against the pro hour..

6 points X 50.00 per point = 300.00, X 5 contracts = 1500.00…

REGN

#ShortStrangles – My 325/425 Jan 20 strangle is about 60 percent profitable so I’ll be watching it closely to make sure I don’t give much back. In the meantime, trying to sneak in another one right before earnings…It’s the highest available call strike (I’d rather have slightly higher) so taking a fairly aggressive put position. I’m only doing this because the Jan position hasn’t been in trouble and I’m able to keep a tight leash on it.

Sold REGN FEB 3 2017 335.0/412.5 Strangle @ 8.50

NVDA again

#ShortPuts #IRA -Selling these in the IRA after closing the EWZ position. Putting the margin back to work…

Sold NVDA FEB 3 2017 90.0 Puts @ 1.70

EWZ

#ShortPuts #IRA – Nice bounce in Brazil today…taking these off a few weeks early.

Bought to Close EWZ Jan 20 2017 30.0 Puts @ .11 (sold for .98)

NVDA strangles

#ShortStrangles – This should be the week before earnings so I’ll have some high IV the following week if I need to roll at all…

Sold NVDA FEB 3 2017 85.0/125.0 Strangles @ 1.56