#SPXcampaign One standard campaign spread and one partial roll
Sold to Open $SPX Sept 9th 2060/2035 puts for 1.25, with SPX at 2176.
Sold to Open $SPX Sept 2nd 2125/2100 puts for 2.75, with SPX at 2178.
Recent Updates Page 490
/ES eminis hedge
Yesterday:
SOLD 2 Sep futures @ 2176.75
SOLD 2 Aug 17 2170 puts @ 9.75
Bought 4 Aug 17 2195 calls @ 4.45
After looking a lot closer at this last night I decided the max loss wasn’t worth the potential gain so closed it all this morning for a scratch. Watching TT last night a couple guys on there had what I felt was a much better hedge. Lower cost and higher reward than what I was trying. They were going out to Sep and just buying VIX 15/20 call spreads. Only paying about 85 cents so much better R/R than my futures trade.
I haven’t bought those yet but might if we get a pullback in VIX closer to 11…
DIS KORS YELP earnings
DIS 93.5/96/96/98.5 iron flies @ 1.93 (closed for 1.20)
KORS 46.5/50/50/53.5 iron fly @ 2.70 (closed for 1.55)
YELP 29.5/32.5/32.5/35.5 iron flies @ 2.39
YELP outside the move so waiting a little on it. Could get out at .50 loss right now. Since max loss is only .61 I’ll watch it awhile. Like to get out at a scratch but even if taking max loss the 3 trades combined are profitable. Could possibly roll the calls or take short position in the stock while waiting for reality to set in for YELP…LOL
Another NUGT put rollup
Rolled $NUGT Aug 26 110 puts up to 135 puts for 2.51 credit.
SKEW is up
For the first time since June, the SKEW went above 135.00 yesterday. SKEW is often a predictor of corrections (readings above 135) or rallies (below 120). On this chart, SKEW is in red, SPY in yellow. You can see a pop to 140 preceded the late June pullback from Brexit.
Earnings…can we predict the move?
Interesting…
https://www.tastytrade.com/tt/daily_recaps/2016-08-09/episodes/reversals-after-earnings-08-09-2016
KORS anyone?
By the way…I’ve been a long time supporter of the hometown brewery but recently switched to the silver bullets…so gotta do this. Just one fly…
Sold this week’s 46.5/50/50/53.5 iron fly @ 2.70
Risk 80 to make 270 and once again needing a slightly less than MMM…
$UVXY #ShortCalls – Covered these…
$UVXY #ShortCalls – Covered these positions to free up room to sell shorter term calls expiring this week and next.
Bought to close UVXY2 SEP 16 2016 100.0 Calls @ 0.01
Bought to close UVXY2 SEP 16 2016 105.0 Calls @ 0.01
Bought to close UVXY2 SEP 16 2016 110.0 Calls @ 0.01
All these were sold on 6/13/16 @ 0.84
DIS earnings
Was just getting ready to adjust the strikes up a half point when it filled…
Sold this week’s 93.5/96/96/98.5 iron flies @ 1.93
Risk 57 to make 193. MMM is currently 2.94 so need something slightly less than that…
YELP earnings
Sold this week’s 29.5/32.5/32.5/35.5 iron flies @ 2.39
Risk 61 to make 239. MMM is currently 3.82 so need something slightly less than that…
$SVXY #ShortCalls – while liquidating…
$SVXY #ShortCalls – while liquidating some long stock today, I had to deal with a bunch of Short Calls to relieve Margin pressure. So I did a big rollup.
Bought to close SVXY Sep 16 2016 60.0 Calls @ 14.65
Sold SVXY Jan 19 2018 90.0 Calls @ 15.55
Cash flow positive and much less expensive to carry with the stock in the low 70’s.
My new long term short calls will give me some cover once I return to selling SVXY puts again.
That won’t be for a while, but at least it’s out there.
$UVXY #CoveredCalls #IRA – these…
$UVXY #CoveredCalls #IRA – these are easy to roll if they go in the money (which I hope happens)
Sold UVXY AUG 12 2016 26.0 Calls @ 0.20
Sold UVXY AUG 12 2016 26.5 Calls @ 0.16
Sold UVXY AUG 12 2016 27.0 Calls @ 0.12
Sold UVXY AUG 12 2016 28.0 Calls @ 0.11
Sold UVXY AUG 19 2016 34.0 Calls @ 0.21
DIS Earnings
#Earnings Sold to Open $DIS Aug 12th 94.5/96.5/98.5 iron butterfly for 1.58. Over last 3 years, Biggest UP move: 7.6%, Biggest DOWN move: -9.2%, Average move: 3.3%. This trade profits best if DIS ends week with less than a 2% move either direction.
Max risk .42.
DIS earnings, looking at iron…
DIS earnings, looking at iron butterfly, 2 points on either side
$BMY #ShortPuts #FallingKnife – Sold…
$BMY #ShortPuts #FallingKnife – Sold BMY Dec 16 2016 55.0 Puts @ 1.84
Eminis…transgender trade?
Sorry about the National Enquirer headline…
What I meant to say is I’m taking an Emini trade where I won’t really care which way it goes…LOL It’s in a squeeze but hard to say which way it will go so taking a shot here.
SOLD 2 Sep futures @ 2176.75
SOLD 2 Aug 17 2170 puts @ 9.75
Bought 4 Aug 17 2195 calls @ 4.45
Makes money on any down move and makes money on anything above 2195…unless it gets there quickly before the calls decay. Then call side could make money slightly lower. It’s a loser on anything between 2177 and 2195. If it settles in up in that range I could roll the put side up for a little extra premium.
UVXY Bought back for .49…
UVXY Bought back for .49 Aug 19 25 call sold yesterday for .93
MUR closed Aug. 19 25/30 strangle for .45 that was sold for .90 on 07/29
IBB sold Aug 26 305/315…
IBB sold Aug 26 305/315 call spread for 1.40 with IBB around 295
A TRADE:
$BMY BTO STOCK @61.84 Small position, tight stop, @60.0, yesterday’s low. Just a spec trade.
$SPX call spreads
STO Sep 23 2255/2265 for 1.00
STO Sep 2 2205/2215 for 2.90
NUGT call closed
#ContangoETFs BTC NUGT Aug 19th 200 call for 1.95 to free up margin. Sold for 16.20 on July 1st.
SPX rolls
#SPXcampaign These are the rolls I’ve been dreading. In a case of bad timing, I didn’t close when we hit lows last week and got stuck closing at new highs. I would be holding through this if expiration was any later. I will be piecing together enough rolls to make up the loss.
Bought to close $SPX Aug 12th 2160/2185 call spreads for 19.95. Partially rolled:
Sold to Open $SPX Sept 2nd 2175/2200 call spreads for 14.40.
Long Volatility
#VXXGame Inspired by @optioniceman‘s last post and the new VIX low, I am selling some SVXY calls for the first time in probably a year and also buying some VIX calls:
BTO $VIX Sept 20th 14 calls for 1.80
STO $SVXY Dec 95 calls for 3.50
STO $SVXY Jan ’17 105 calls for 2.50
Earlier:
BTC $UVXY Aug 19th 60 call for .02. Sold last Tuesday for .60
BTC $UVXY Aug 26th 58 call for .12. Sold Last Tuesday for 1.15
$VIX $SVXY – the VIX…
$VIX $SVXY – the VIX index is at 11.03. The 3 year low, going back to mid 2013 is at 10.28.
Don’t know what to make of this but I’m selling some SVXY stock around 74 and buying back my shortest term ITM covered Calls to get closer to an all cash position. I may be early, but there is little time premium left to be made on these covered call positions. Might as well cash out now.
I can always sell puts later.
SPX calls sold
#SPXcampaign Sold to Open $SPX Sept 9th 2240-2265 call spreads for 1.35, with SPX at all-time high of 2186.
Selling these normal campaign spreads 30 days out around 10-delta has been working fine for weeks. I am still dealing with ATM and ITM rolled spreads that are the tough part. More on that to follow.
$YELP earnings trade
Trying to get an iron butterfly for earnings, but having a hard time filling as it is not very liquid.
Attempting to get Aug 19 28/32/32/36 for 3.00. Risk 1 to make 3. Also giving it a week to settle in after earnings. Will let you know if it fills.
Highs and Lows
This is similar to the post I put up last Friday:
New all-time $SPX high
New all-time $NDX high
All time lows in $VXX and $UVXY
New 50-week high in $SVXY
New 52-week low in $VIX
SVXY
Sold to open December 85 calls @6.50
NUGT rollup
Rolled $NUGT Aug 19 125 puts up to 140 puts for 2.10 credit. Went from 7 delta to 18 delta.
VXX game closes after the bell
#VXXGame After the bell, these two closing orders filled:
BTC SVXY Jan 2017 30 put for 1.40. Sold for 7.05 on Jan 6th of 2015
BTC UVXY Sept 2nd 58 call for .28. Sold for 1.50 last Tuesday.
VRX valeant pharma reports tomorrow…
VRX valeant pharma reports tomorrow morning. it’s 52 week range is 18-253. Is anybody interested?
$UVXY
$UVXY STO Aug 19 $30 calls @ $0.40
HTZ followed a TT #earnings…
HTZ followed a TT #earnings trade on Hertz, sold a Sept. 16 40/57.50 strangle for 1.25 with HTZ at 47.60 or so.
SVXY
STO September 9, 55 put @1.40 on 2 contracts.
UVXY sold Aug 19 25…
UVXY sold Aug 19 25 call for .93, was assigned from a 24 put that was profitable earlier last week. My cost basis is now 22.30. I have been under the impression that markets occasionally go down but I’m not so sure about that anymore.
SVXY roll
BTC September 68 calls and sold December 75 calls for a credit of 1.80
Closing this week’s NUGT
Decided to close these positions at a profit and release the buying power. I have plenty of exposure to this ticker so I don’t need to bleed this week’s theta.
Bought to close $NUGT Aug 12 200 calls @ .35 (sold for 1.50 on 7/26)
Bought to close $NUGT Aug 12 155 puts @ 4.10 (sold for 6.30 on 8/2)
CHTR earnings
#Earnings Following trade is VOIDED. Mistake on entry; I did not get these prices so I’m closing for a small loss now, not worth the risk.
Sold to Open $CHTR Aug 12th 215/220/250/255 iron condors for 1.70. Over last 3 years: Biggest 5-DAY UP move: 5.5%, Biggest DOWN move: -8.0%, Average 5-day move: 3.9%. This trade is about 6.3% OTM on each side.
SVXY roll
BTC August 19, 60 calls and STO December 70 calls for a credit of 0.25 cents.
SVXY
STO September 23, 58 put @2.70 to replace some of the puts that expired on Friday. I think this could get to 90 or 95 if the FED does nothing before the end of the year.
NUGT…back on track
Sold NUGT AUG 12 2016 170.0 Call @ 3.00
Paired with this week’s 155 put. Back in the routine now…selling a fairly aggressive strangle in this week and next week. That allows a 2 week rollout of the current week if needed and still collecting big theta while only requiring small margin.
SPX Opening range – 4…
SPX Opening range – 4 point range!?
VXX reverse split
Posted this last week. Maybe effective after the close today? Not seeing it yet.
$SPX call spread
$SPX call spread
STO Sep 2 2220/2230 for 1.65
Good morning
Another day, another rally.
Options Expiration
Expired
$SPX 2105/2130 BUPS
$NUGT 150 Call
Expired/Assigned
$PCLN 1305/1355/1355/1405 Iron Condor
Assigned
$MGM 23.5 Call (Covered)
Closed Early (Feeling the Heat)
$SPX 8/12 2225/2200 BECS @ 56% Profit (Lower margin pressure)
$SPX 8/19 2260/2235 BECS @ 68% Profit (Lower margin pressure)
$FB 135/130 BECS @ 85% Profit
$BABA 80/85 BUPS @ 28% (Lowering position size)
OPTION EXPIRATION, 8/5/16
$UVXY 30.0 CALLS
$UVXY 28.50 CALLS
$UVXY 31.5 CALLS
$UVXY 30.5 CALLS
$UVXY 25.5 CALLS
$UVXY 25.0 CALLS
$WLL 9.0 CALLS
Have a great weekend everyone.
Options Expiration 8/5/16
#OptionsExpiration
–Expiring–
$NUGT 120 put
$SPX 2145/2120 put spreads
$SPX 2125/2100 put spreads
Also, at the close, STO NUGT Sept 2nd 105 put for 3.10.
Options Expiration
$NUGT $90 puts
$NUGT $100 put
$NUGT $110 put
$NUGT $200 calls
$NUGT $205 calls
$SVXY $42 puts
$SVXY $45 puts
$SVXY $50 puts
$UVXY $31.5 calls
$UVXY $34 calls
My overall $NUGT exposure keeps dropping every week. Not the right time to be selling many puts or calls so just keep having more positions expire than new positions being opened. Premium in way OOTM options isn’t that great right now and the margin requirements are huge on this thing. Would much rather trade $UVXY and $SVXY when the opportunities arise. #OptionsExpiration
#OptionsExpiration #Weeklys #Aug05 – not…
#OptionsExpiration #Weeklys #Aug05 – not a bad week. True to form $SVXY soared on expiration day, making rollups more difficult and less profitable. $NUGT finally fell back from a new yearly high.
No assignments this week.
— Expirations —
CBS (Weekly) Aug 5 2016 50 Puts
NUGT (Weekly) Aug 5 2016 85 Puts
NUGT (Weekly) Aug 5 2016 185 Calls
NUGT (Weekly) Aug 5 2016 190 Calls
NUGT (Weekly) Aug 5 2016 200 Calls
SVXY (Weekly) Aug 5 2016 40 Puts
SVXY (Weekly) Aug 5 2016 56 Puts
SVXY (Weekly) Aug 5 2016 57 Puts
SVXY (Weekly) Aug 5 2016 57.5 Puts
UVXY (Weekly) Aug 5 2016 31.5 Calls (Covered)
UVXY (Weekly) Aug 5 2016 32 Calls (Covered)
UVXY (Weekly) Aug 5 2016 33 Calls (Covered)
UVXY (Weekly) Aug 5 2016 34 Calls (Covered)
UVXY (Weekly) Aug 5 2016 37 Calls (Covered)
UVXY (Weekly) Aug 5 2016 37.5 Calls (Covered)
UVXY (Weekly) Aug 5 2016 38 Calls (Covered)
UVXY(ns)(Weekly) Aug 5 2016 24 Calls
UVXY(ns)(Weekly) Aug 5 2016 16 Calls
TRADES:
$UVXY BTC 8/5/16 28.0 PUT @6.10 STO @3.28 Tired of rolling it out for now, maybe next week.
$UVXY STO 8/12/16 21.0 PUT @ .86 An experiment to incrementally get back monies lost on above trade. We’ll see.
Expirations, I know I am early but it is boring and I am going to the gym.
ADBE Squeeze Play
BTO Sep 16 ADBE 97.5 Calls at $3.25
SPX call spread Aug. 31…
SPX call spread Aug. 31 2225/2235 for 1.00
$SVXY $FEYE
Well its been an odd week with a few miss steps along the way. On Monday we are moving our daughter to Tallahassee to start Grad school at FSU. So things are shall we say distracting. I did roll out and up my $SVXY Aug 5th 65 Calls to Aug 26th 67 Calls for 0.65 credit. Thanks Option Iceman for the reminder. I didn’t get my Aug 19th 16 Put closed on $FEYE before earnings. My Bad. I will roll it as need be. So I have no expiries to report this Friday. Have a great weekend all.
VXX…destiny
http://sixfigureinvesting.com/2013/08/next-vxx-reverse-split/
$NUGT
STO Aug 26 $100 put @ $1.65
Only trade I’ve made today.
PCLN For you gamblers, you…
PCLN For you gamblers, you can probably get a 1435/1445 Aug. 5 call spread for 1.20 or so with PCLN at 1427
SVXY Call spreads Sept 16,…
SVXY Call spreads Sept 16, 80/85 at 1.10
SVXY
STO December 85 calls @5.30
New VIX 52-week low was…
New VIX 52-week low was just hit
$SVXY #CoveredCalls #Rollup – another…
$SVXY #CoveredCalls #Rollup – another rollup I didn’t think I would have to make.
Bought to close SVXY Aug 5 2016 68.0 Calls @ 1.98 with the stock at 69.92
Sold SVXY Sep 9 2016 70.5 Calls @ 4.84.
At least this new strike price is above the YTD high of 70.15 reached this morning.
SPX put spreads closed
#SPXcampaign
Bought to close Aug 19 2040/2015 put spreads @ .20 sold on July 21 @ 1.30.
Time to open more spreads. Have one IC left – Aug 26 2040/2015 put @ 1.40 by 2230/2250 call @ 1.50 going to have to watch the call side with new high at 2180.27.
Thanks, Jeff
$SVXY #CoveredCalls #Rollup – another…
$SVXY #CoveredCalls #Rollup – another rollup I didn’t think I would have to make.
Bought to close SVXY Aug 5 2016 67.0 Calls @ 2.98 with the stock at 69.93
Sold SVXY Aug 26 2016 69 Calls @ 4.22.
Earned all the time premium on the 67.0 calls, Raised the strike price 2 Points, and brought in 1.24 credit to pad my cash balance.
It’s all good as long as the stock keeps rising.
$NUGT
Seems to want to stabilize around $155, but Gold is still steadily dropping, I suspect at some point here $NUGT will take another leg down.
Highs and Lows
New all-time $SPX high
New 52-week $RUT high
All time lows in $VXX and $UVXY
Today’s low so far .05 above 52-week low in $VIX
$NUGT #ShortCalls – getting out…
$NUGT #ShortCalls – getting out ahead of the spilt
Bought to close 1 NUGT JAN 20 2017 105.0 Call @ 70.00
Bought to close 1 NUGT SEP 16 2016 185.0 Call @ 14.80 – may have made a few pennies profit on this one
PCLN…can’t win ’em all (unfortunately)
Yesterday:
Sold weekly PCLN 1305/1355/1355/1405 iron fly @ 42.00. Risking 8 to make 42
Obviously stock blasted through the entire call side so by the close today that side would be at full 50 loss unless there is a massive pullback. At the open today my goal was to close that side for anything less than 50. Anything less than 50 would reduce max loss by that amount. Managed to close the call side for 48.50, reducing max loss down to 6.50. Then, sold a weekly 1405 put for 2.00. Watching that now…if it expires max loss would then be reduced to 4.50. Not bad for an awful trade. Combined with all the other earnings plays so far it’s been a banner earnings season.
I’m now a PCLN bull for the day! LOL
NUGT
STO October 21, 90 puts @7.70
SPX trades
#SPXcampaign
In pre-market, Bought to close Aug 12th 2080/2055 put spreads for .20. Sold as part of a condor-roll on July 15th.
Bought to close $SPX Aug 18th 2040/2015 put spreads for .20. Sold for 1.30 on July 19th.
Sold to Open $SPX Sept 2nd 2225/2250 call spreads for 1.60. I sold this spread on Monday as well… wanted to use the 2230 short for my second spread, but since I could only get about 1.10, I just doubled up on the 2225.
$NUGT – nice pullback
$NUGT – nice pullback
Double Calendars…not working very well
Double Calendars have been disappointing on this earnings season. I don’t know if it is because of the IV levels or because the movements have been not big enough. All I know is that none of the DC I’ve used have produced good profits; the ones that worked produced very low profits. Most didn’t work and lost me money.
Jeff, please read my post in Skype…
@fuzzballl, did Dan exit his…
@fuzzballl, did Dan exit his $FEYE trade before it tanked just now?
PCLN…pushing my luck
It’s been a record setting earnings season so I’m pushing it one more time…
Sold weekly PCLN 1305/1355/1355/1405 iron fly @ 42.00. Risking 800 to make 4200. Short strikes centered at about the mid point of today’s range. MMM has dropped a little today so selling just inside that. 50 wide with a 66 move priced in. Win or lose I’ll be smiling!
Also…protective wings at a cluster of moving averages on the downside and the year high on the upside. Still, all bets are off with this thing! Could go anywhere…
Bill Gross…funny!
Saw this on Seeking Alpha:
http://www.cnbc.com/2016/08/03/investing-in-gold-big-players-put-money-into-the-precious-metal.html
Guess it’s time to sell gold if his track record is any indication. LMAO!!
http://www.aol.com/article/2009/02/26/bill-gross-the-747-billion-bond-man-declares-the-death-of-equ/1472266/
Notice the date he declared equities dead…about a week before the bottom…hahaha!
