#SPXcampaign In Pre-market, bought to close $SPX Oct 28th 2000/1975 put spreads for .20. Sold for 1.35 on Sept 26th.
Sold to Open $SPX Nov 17th 2225/2250 call spreads for 1.55, with SPX at 2143.
Recent Updates Page 475
$SPX puts closed
BTC SPX Oct 28 2050/2040 for 0.40.
Sold 5 days ago for 1.00. Continuing to close these at 60% max profit.
good morning everyone – I…
good morning everyone – I took the NFLX earning trade – strangle 80/120 OCT 21. I am looking for suggestions as to how to manage. I have 3 options that I can think of – close it for a loss or buy a call or roll it out to week/month. Any suggestions would be appreciated. Thanks
$SVXY
Sold $SVXY Nov 4th 75 Calls @ 2.15. Filled right at the 4:15 cut off. I’m waiting for my text alert to get the SVXY price at fill.
Boom!
#Earnings After a four straight quarters of down moves, NFLX resumes its huge moves UP on earnings. At least it is easier to manage ITM 115 calls than it was ITM 700 calls.
STO IBM IBF 152.5/155/157.5 for…
STO IBM IBF 152.5/155/157.5 for 2.19 Oct 21
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 28th 2200/2225 call spreads for .20. Sold for 4.50 on Oct 5th.
SVXY
This morning I BTC October 21, 60 puts @.25, they were sold @1.20
Since we are only about 10 points away from the strike price I decided to cover them and wait for this market to break out of the trading range we have been in since July. It seems like the bears have the upper hand today.
$IBM – Sold IBM 142/165…
$IBM – Sold IBM 142/165 Strangles that expire Friday for 0.48 with the stock at 154.78
Valeant Pharma VRX reports today….
Valeant Pharma
VRX reports today. The 52 week range is 18.55-171.50. No ideas, it’s interesting.
$NFLX #ShortStrangle #Earnings – I’d…
$NFLX #ShortStrangles #Earnings – I’d rather do more of a safer strangle
Sold NFLX 82/123 Strangles that expire Friday for 0.47
IBM Followed from TT 137/150/150/152.50…
IBM
Followed from TT 137/150/150/152.50 Put butterfly for .47 credit, profitable above 147. Oct. 21 expiration.
$DUST #ShortPuts – Sold DUST…
$DUST #ShortPuts – Sold DUST Oct 21 2016 36.0 Puts @ 0.20 with the stock at 45.32
SPX call spreads closed
#SPXCampaign BTC Nov 4 $SPX 2220/2245 call spreads closed @ 0.20, STO @ 1.60 on Oct 10.
IBM?
Earnings today also. 6.25 expected move. 5 wide iron fly about 3.95 right now…no position yet although considering it for a strangle and then manage if needed.
NFLX price not moving but…
NFLX price not moving but options premiums going up.
GS earnings
#Earnings Not a big mover on earnings: Biggest UP move: 3.0%, Biggest DOWN move: -2.6%, Average move: 1.6%.
Going for neutral iron butterfly: STO $GS Oct 21st 167.5/170/172.5 IB for 2.05. Max risk = .45.
NFLX earnings
#Earnings Over last three years, over five days after earnings, Biggest UP move: 25.4%, Biggest DOWN move: -19.9%, Average move: 12.7%. Seems to be an upside bias to earnings premiums. Looking to sell the 85 put for .53, 14 points OTM, and the 115 call for .75, 16 points OTM. The farther out call is selling for more than the closer put.
These strikes are 14.1% and 16.2% OTM respectively.
STO $NFLX Oct 21st 85/115 strangles for 1.27.
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 17th 1960/1935 put spreads for 1.50, with SPX at 2127.
I am still selling put spreads, even with a Downside Warning in effect. Everything has remained fairly orderly in the SPX so I’m not spooked yet. I will take profits early or stop out if anything violent starts happening.
$DUST #ShortPuts – Sold these…
$DUST #ShortPuts – Sold these this morning. Since I am also short NUGT Puts, these are protecting each other.
Sold DUST Oct 21 2016 38.0 Puts @ 0.40
Sold DUST Oct 21 2016 36.5 Puts @ 0.20
Econ Calendar week of 10/17/16
My Take on the SPX (for what is worth…)
I’ve been looking at the SPX chart and both the 78 min and the Daily are showing a very bearish pattern. Jeff’s VIX indicator issued a downside warning on Oct 13, so I believe that we may be going down probably the next couple of weeks. That doesn’t mean that each day may be a down day though. There will be up days mixed in with down days; But IMHO, the direction now is mostly bearish. Unless the Feds do something to change the direction before the elections. Who knows?
Expiration 10/14/16
Expiration with max profit
$SPX 10/14 2220/2245 BeCS sold for 1.30 9/14
$SPX 10/14 1925/1950 BuPS sold for 1.50 9/14
$SPX 10/14 1920/1945 BuPS sold for 1.10 9/18
Expiration Total Profit
$FB 126 put
$SPX 19/15/1940 BUPS
$SPX 2075/2100 BUPS
Sold Early
$FB 10/21 125 Call BTO 4.50 STC 3.57
$FB 11/18 130 Call BTO 4.80 STC 3.78
Trades
$SPX 11/11 1955/1980 BUPS @ 1.30
$SPX 11/11 2245/2220 BUPS @ 1.95
Assigned 100 shares of NUGT…
Assigned 100 shares of NUGT last night from a 17 put, had a short 17 call expire
No expirations or assignments this week
Have a great weekend everyone.
I’m heading out to the second weekend of Desert Trip (aka Oldchella) today. Getting ready to hang out with 70,000 of my favorite aging hippies. Tonight Bob Dylan and The Stones, tomorrow night Neil Young and Paul McCartney and if I’m still alive, Sunday night The Who and Roger Waters. Not a huge fan of big crowds anymore so I’m gonna get my Zen on, and practice patience 🙂
See you all next week!
Options Expiration 10/14/16
Alls I gots expiring is the DUST 55 call. Have a great weekend everyone!
$SVXY
#OptionsExpiration #Weeklys #Oct14 Only one
$SVXY Oct 14th 80 Call covered
Have a great weekend all.
SPX Put spread sold
SPX nov 16 put spread 1970/1945 sold for $1.50 when SPX at 2135
Options Expiration
$SVXY $45 puts
$SVXY $75 calls
$UVXY $22 calls
$UVXY $26 calls
$UVXY $30 calls
$UVXY $40 calls
$VXX $45 calls
Have a great weekend everyone.
#OptionsExpiration #Weeklys #Oct14 – An…
#OptionsExpiration #Weeklys #Oct14 – An unusually quiet week. No Assignments this week and 3 sets of SVXY Calls expired (that’s unusual).
The October monthly expiration next week is a big one.
— Expirations —
DUST (Weekly) Oct 14 2016 61 Calls
MYL (Weekly) Oct 14 2016 45 Calls (Covered)
NUGT (Weekly) Oct 14 2016 10 Puts
NUGT (Weekly) Oct 14 2016 11 Puts
NUGT (Weekly) Oct 14 2016 14 Calls (Covered)
SVXY (Weekly) Oct 14 2016 74 Calls (Covered)
SVXY (Weekly) Oct 14 2016 76 Calls (Covered)
SVXY (Weekly) Oct 14 2016 85 Calls (Covered)
UVXY (Weekly) Oct 14 2016 21 Calls
UVXY (Weekly) Oct 14 2016 21.5 Calls
UVXY (Weekly) Oct 14 2016 22 Calls
UVXY (Weekly) Oct 14 2016 22.5 Calls
UVXY (Weekly) Oct 14 2016 23 Calls
UVXY (Weekly) Oct 14 2016 23.5 Calls
UVXY (Weekly) Oct 14 2016 24 Calls
UVXY (Weekly) Oct 14 2016 24.5 Calls
UVXY (Weekly) Oct 14 2016 25 Calls
UVXY (Weekly) Oct 14 2016 25.5 Calls
UVXY (Weekly) Oct 14 2016 26 Calls
UVXY (Weekly) Oct 14 2016 26.5 Calls
UVXY (Weekly) Oct 14 2016 40 Calls
UVXY (Weekly) Oct 14 2016 45 Calls
SVXY
Got a fill earlier today: BTC SVXY Oct21’16 55 PUT @ 0.10, sold for 2.90 on 9/12/16.
NVDA Earnings
Does anyone knows when NVDA is reporting?
So far I have conflicting dates, from Nov 3rd to Nov 10th.
AZO earnings closed
#Earnings BTC $AZO Oct 21st 800 call for .20. Sold for 2.76 on 9/21. Now flat in AZO; all earnings trades closed yesterday and today.
SPX puts sold, puts closed
#SPXcampaign Sold to Open Nov 11th 1980/1955 put spreads for 1.30, with SPX at 2137.
Earlier: Bought to close $SPX Oct 20th 2050/2025 put spreads for .20. Sold for 1.30 on Sept 22nd.
$UVXY #ShortCalls #OptionLadder – sold…
$UVXY #ShortCalls #OptionLadder – sold all these today for next week –
Sold UVXY Oct 21 2016 27.0 Calls @ 0.14
Sold UVXY Oct 21 2016 27.5 Calls @ 0.13
Sold UVXY Oct 21 2016 28.0 Calls @ 0.12
$NUGT #CoveredCalls – since my…
$NUGT #CoveredCalls – since my calls for this week are about to expire, I sold the same strike price for next week.
Sold NUGT Oct 21 2016 14.0 Calls @ 0.35
$NUGT #ShortPuts – NUGT has…
$NUGT #ShortPuts – NUGT has been all over today. Sold Puts for next week and then later covered some of this week’s exposure.
Sold NUGT Oct 21 2016 10.5 Puts @ 0.25
Bought to close NUGT Oct 14 2016 13.5 Calls @ 0.80. Originally sold @ 0.85
$SVXY #ShortCalls #Rollup Bought to…
$SVXY #ShortCalls #Rollup
Bought to close SVXY OCT 14 2016 70.0 Calls @ 1.11 – originally sold at 5.20
Sold SVXY OCT 21 2016 72.0 Calls @ 1.61
Add just 1 week to my holding period to get a 2 point higher strike price plus a 0.50 credit.
Yellen speaks: Fed might want…
Yellen speaks: Fed might want to run a high pressure economy.
http://tinyurl.com/zj479ek
WYNN adjustment
Rolled next week’s 108 short puts out to Nov 11 107’s for even. Continuing to sell weekly calls against them.
Short 100 calls expiring today (sold for 1.02)
Short 100 calls next week (sold for 1.27)
Still long a few deltas but don’t want to over hedge. Earnings coming up (Oct 27th) so should be sweet call premium available there.
GLD put spread
GLD Nov16 – 116/110 Put spread sold for $0.60 when GLD at 119.68
IBB adjustment
Scalping a little and a delta adjustment against a Nov 265 put:
Sold IBB NOV 4 2016 280.0 Call @ 2.40
Should be some resistance up in that area…
$SVXY
When $SVXY broke back below $72, I sold my stock. Not liking the way things are trading. My covered call trade was still profitable by about $300 all in.
#MARKET Making new highs on…
#MARKET
Making new highs on the day. Thus far $UVXY has been hanging tough about $17. Come on Vol Suck, daddy needs to sell a $SVXY $75 call for next week. 🙂
Oops! Not paying attention.
It pays to pay attention to your trades. Was “trying” to add a call spread to an SPX Oct 28 put spread that I sold yesterday. Instead of selling, I bought an SPX call spread, the Oct 28 2190/2200 for 1.25. It’s still sitting at the same price so I could just get out now and realize it pays to pay attention. Or, I could hold a while and see if today continues to go up and then sell it for a little profit.
Thoughts? You can just tell my I need to pay attention to my orders and I’ll take my lumps and get out of it now. 🙂
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 11th 2220/2245 call spreads for 2.00, with SPX at 2144.
XLE strangles
Just another tiny position…
Sold XLE NOV 18 2016 66.0/74.0 Strangles @ 1.16
$NUGT #ShortPuts – Sold NUGT…
$NUGT #ShortPuts – Sold NUGT OCT 21 2016 10.5 Puts @ 0.19.
Market
This is frustrating. I was hoping for the SPX to break 2120 and keep going. I guess that if it does break on volume and stay below that level it will mean something but not today.
$SVXY #ShortPuts – these trades…
$SVXY #ShortPuts – these trades are tougher to get off than UVXY calls. Not nearly as liquid
SVXY OCT 21 2016 55.0 Puts @ 0.30
SVXY OCT 21 2016 54.0 Puts @ 0.30
SVXY OCT 28 2016 50.0 Puts @ 0.35
SVXY NOV 18 2016 40.0 Puts @ 0.45
$$NUGT #ShortPuts – Sold NUGT…
$NUGT #ShortPuts – Sold NUGT Oct 21 2016 11.0 Puts @ 0.25
OMM
Thanks for the hint on OMM membership. I also just canceled my membership over there.
$UVXY #ShortCalls – missed one….
$UVXY #ShortCalls – missed one. Sold UVXY NOV 4 2016 35.0 Calls @ 0.61
$NUGT #ShortPuts – Bought to…
$NUGT #ShortPuts – Bought to close NUGT Oct 14 2016 12.0 Puts @ 0.05.
They can’t go any lower and I’m free to sell Puts for the following week.
Some of these were “rolled into” when I covered short 13.0 puts last Friday
SPX Kind of trying Jeff’s…
SPX
Kind of trying Jeff’s idea on fear with trading. I’m afraid of the big numbers so my put spread is Nov. 25 2145/2135 for 4.10.
Looks like gold may have…
Looks like gold may have found its bottom
$UVXY #ShortCalls/#CoveredCalls – sold most…
$UVXY #ShortCalls/#CoveredCalls – sold most of these when $UVXY pushed above 19 this morning.
Many but not all are at the #TopOfTheChain
UVXY OCT 14 2016 22.0 Calls @ 0.24 – expires tomorrow
UVXY OCT 21 2016 31.0 Calls @ 0.23 – expires next Friday
UVXY OCT 21 2016 32.0 Calls @ 0.18
UVXY OCT 21 2016 33.0 Calls @ 0.18
UVXY OCT 21 2016 34.0 Calls @ 0.18
UVXY OCT 28 2016 40.0 Calls @ 0.22
1 UVXY NOV 11 2016 25.5 Call @ 1.63
UVXY DEC 16 2016 55.0 Calls @ 1.32
UVXY JAN 20 2017 60.0 Calls @ 1.79
UVXY MAR 17 2017 60.0 Calls @ 3.15
UVXY JAN 19 2018 60.0 Calls @ 7.30
Is the VIXIndicator punking us?
#VIXIndicator Well, if that was a near-term bottom today, that will be three Downside Warnings in a row that occurred on the day of the market bottom… Brexit in June, last month and this month.
That is not the historical norm, but if it’s becoming a new reality I may need to look at some adjustments. The main purpose of the Downside Warnings is to avoid huge dumps like August 2015. For the bigger corrections, it has always given fair warning before the huge dive. It may just be that it is less useful on these smaller dips.
#Market Looks like it wants…
#Market
Looks like it wants to get into the Green by the end of the day. Getting some mojo.
AZO naked put closed
#Earnings Bought to close $AZO Oct 21st 690 put for .20. Sold for 3.07 on 9/21. Now just waiting for the 800 call to close.
OMM…finally pulled the trigger
My subscription is up for renewal after this week. I left my email at the bottom hoping some OMMers will contact me and I can let them know about “The Bistro”.
===============================================================================
#OffTopic – Well this is it. My last week at OMM. A bittersweet day since I was in the group of beta testers from the very beginning. Can’t believe how much I’ve learned from all the great traders here. Too many names to mention but I won’t hesitate to throw one out there.
@Iceman – Thanks for all your postings over the years and opening my eyes to an entire new spectrum of option trading. Changed everything! I’ll never forget watching you sell into that summer 2011 meltdown. I paper traded right along and it was incredible…thank you sir!
A special thanks to @DAN also. An incredible resource here, an incredible library of learning, and most of all a great teacher. Thank you for having us!
I’ll be moving my “website dollars” over to SMM at some point so I’ll be looking forward to seeing most everyone over there also.
Thanks again everyone and great trading!!
Fuzzball (Scott)
fokkrfuz at charter dot net
UVXY call spreads
Earlier today:
Sold UVXY JAN 20 2017 30.0/40.0 Bear call spreads @ 1.00
SPX next-day spread closed same day
#SPXcampaign Bought to close $SPX Oct 14th 2090/2065 put spreads for .40. Sold 2.5 hours ago for 2.10.
SPY Sold Dec. 200/190 put…
SPY
Sold Dec. 200/190 put spread for 1.20
Overcoming fear
It’s the toughest thing about trading, and nothing has provided a bigger leap away from fear than my recent experience of managing an ITM call spread. I was short the August 2130/2155 call spread as the SPX reached all time highs of 2193. It was a big trade, too, over twice my normal size, and it sucked as the index went through my strikes (I had already rolled several call spreads, but let this one sit). But as it sat there ITM for days and then weeks, I grew more relaxed and started exploring ways to roll my way out. I figured a system, without increasing position size, and started rolling it one week before it expired. All it would take is a decent pullback or two and I’d be out. It took about 6 rolls and now I’m out with no loss, in fact retaining the profit I expected on the original trade.
Going ITM and realizing max loss seems to be a great fear for many option traders. To help overcome it, I suggest trading an ITM spread on an index. Indices do not have huge overnight gaps like stocks, and there is no possibility of early assignment, as they are cash settled at expiration, never earlier. Your risk never changes, whether you are 100 points OTM or 100 points ITM (except with Portfolio Margin, which is unpredictable).
Today, I sold a 1-lot:
Sold to Open $SPX Nov 25th 2175/2150 put spread for 14.00. I will wait until mid November to even worry about it. It will be similar to having a trade go against you, except we now have the benefit of a very fat credit upon entry, rather than the 1.30 or so for which we usually sell these spreads.
Feel free to join if you are looking to overcome some of your fear. If you do it, understand that if it remains ITM in November, we may be selling condors or extra options during the rolls. But as before, I do not plan to increase risk very much. #SPXcampaign #FearTrade #ITMrolling
$VXX $UVXY
Nibbling
STO $VXX Nov 4 $50 calls @ $0.50
STO $VXX Nov 11 $55 calls @ $0.52
STO $UVXY Nov 4 $30 calls @ $0.70
Fat fingered stop
#SPXcampaign I was holding the $SPX Oct 19th 2100/2075. My stop was the September lows, so when we broke that this morning, I considered closing it. I entered a stop price of 5.40, but did not want to submit the trade until I saw how the bounce would act. Well, guess what? I mistakenly submitted it.
As many expected, the 2120 area held (so far). But it’s done, so I decided to roll into an iron condor with the same expiration and same number of contracts. No doubt risky, probably more to the upside. But I will roll either side, if either are threatened.
Stopped: Bought to close SPX Oct 19th 2100/2075 put spreads for 5.40. Sold for 2.75 last Thursday.
Rolled to: Sold to Open SPX Oct 19th 2055/2080/2150/2175 iron condors for 5.25. Paid a .15 debit on the roll, but that’s okay since I brought in a heft 2.75 on the initial sale.
SVXY put ladder
Adding one…
Sold SVXY JAN 20 2017 45.0 Put @ 2.60
I’m following all of you…
I’m following all of you as well Jan 18 UVXY STO 60 Call.
IBB leg out
Bought to Close IBB NOV 18 2016 310.0 Call @ .60
This was the call side of a strangle sold ( @ 5.15) earlier. Still plenty of time to sell this again on a bounce.
IWM strangle
Sold IWM NOV 18 2016 113.0/127.0 Strangles @ 1.60
WLL roll Oct 8 to…
WLL roll Oct 8 to Nov 9 CC@.15 debit.
SPX next-day puts sold
#SPXcampaign — risky as we are still dropping…
Sold to Open $SPX Oct 14th 2090/2065 put spreads for 2.10, with SPX at 2115.
We just broke the September…
We just broke the September lows in SPX
