#VXXGame I have been rolling underwater UVXY puts for weeks… in the end I would up really heavy on June 17th expiration, being short 18,17,15,14,13, and 12 puts expiring tomorrow. Imagine my luck that this is the week of the volatility pop!
BTC $UVXY June 17th 15 put for .40. Sold for 1.30 in March. Will scale out of more today and tomorrow, rolling anything that remains underwater.
$SVXY sold a July 15 37 put for 1.15 thanks to SVXY traders
#SPXcampaign So I can sleep better, I closed the last borderline put spread… bought to close $SPX July 8th 1975/1950 puts spread for 2.95. Sold on June 9th for 1.30. I will sell a roll tomorrow or Friday.
STO July 8, 40 put @1.35
STO July 1, 40 put @0.95
$NUGT #ShortCalls = Sold 1 NUGT DEC 16 2016 185.0 Call @ 24.00
Sold July 08th 40 Put @ 1.35 with $SVXY @ 51.99 I will take assignment here.
$CMG Chipotle continues to head south
#ContangoETFs Sold to Open NUGT July 29th 160 call for 9.50. Highest available strike.
NO change in interest rate
I’m taking these close to the money positions off at a profit before the FOMC statement, in the event a big swoon in volatility spikes SVXY and takes me out on Friday. I’m still short the 60 and 65 covered calls which I will let go if it gets that high. I’m also short 35 and 44.50 puts for this week’s expiration.
Bought to close $SVXY Jun 17 53 calls (covered) for .76-.80 (sold for 1.30)
Bought to close $SVXY Jun 17 54 calls (covered) for .50 (sold for 1.40)
I rolled my deep in the money calls. I’m still short 92 calls for June which I’m leaving for now, and 130 calls. The rest are now in July and August
Rolled $NUGT Jun 44 calls out to Aug 45 calls for .70 credit
Rolled $NUGT Jun 46 call out to Jul 46 call for .45 credit
Rolled $NUGT Jun 65 calls out to Jul 65 calls for 2.91 credit
$VIX — http://www.zerohedge.com/news/2016-06-15/unprecedented-jump-vix
http://www.reuters.com/article/us-britain-eu-banking-idUSKCN0Z10GK
It will be interesting to hear if Chair Yellen mentions the vote…
Rolled my June 17th 50 Put out to July 15th 45 Put for 1.60 credit. A break even on the July short Put position is around 2.40.
BTC Jun 15 2120/2110/2050/2040 IC @ 0.20, with SPX at 2083.
Sold yesterday for 0.95.
This is probably safe, but with the Fed speak today, you just never know with this crazy market. I’ll gladly accept 78% of max profit in a day. 🙂
Rolled out the $NUGT 97 June 17 Call to
$NUGT June 24 $101 Call for $3 credit
$UVXY $SVXY – so as is normally it’s pattern, the VIX looks to have topped out and MAY be starting it’s elevator ride back down. UVXY topped out at 17 early yesterday morning. If it can’t exceed that by the end of the week, the advance is probably over. I’m glad I was as aggressive as I was selling calls. Unfortunately I didn’t liquidate any of my long stock.
At least SVXY is rising again. If it reaches 53 by Friday all my short puts for this week will expire. There was never any doubt that all the short calls I rolled into this week with strike prices in the 60’s would expire.
#SPXcampaign In pre-market, Bought to close $SPX June 16th 2025/2000 put spreads for .60. Sold for 1.75 on June 2nd. Closing early to avoid downside risk in light of Fed, VIX warning, and Friday AM settlement.
BTC June 17, 120 call @1.05, sold at 2.05
Since I am very involved in the SVXY, I would like to reduce my risk in other options.
$NUGT #ShortCalls #OptionLadder – another minor adjustment to my positions today:
Bought to Close 1 Contract NUGT Jun 17 2016 92.0 Call at 9.90 for a small gain – It is still in the money!!
In it’s place I sold the following #OptionLadder
2 NUGT Jun 17 2016 125.0 Calls @ 1.05 – these expire Friday
1 NUGT Jun 24 2016 140 Call @ 2.30
1 NUGT Jul 1 2016 160 Call @ 2.30
1 NUGT Jul 1 2016 160 Call @ 3.50
$NUGT #ShortCalls #ShortStrangles – a minor adjustment to my positions today:
Bought to Close 1 Contract NUGT Jun 17 2016 105 Call at $5.30 for a small gain
In it’s place I sold 2 strangles for this week –
NUGT Jun 17 2016 120 Calls / NUGT Jun 17 2016 79 Puts @ 2.06 Credit
Not a cash generator but I feel better about holding the new positions through Friday.
#SPXcampaign Sold to Open $SPXM July 17th 2000/2020/2100/2120 condors for 2.40. This is the roll from the June 15th put spread stopped earlier. Fairly tight range for a volatile week, so I will need to be adept if Janet or anything else gives us more big moves.
$SPY followed from TT August 19, 187/217 strangle for 3.09, first SPY strangle, have to grow up sometime.
Rolled SPX JUN 24 2016 2025/1950 BuPS to Aug 31 1825/1775 for .20 credit. (2x size but still very small)
This was originally a 1975/1950 put side of an iron condor where I had greedily rolled up the short side for extra credit. Approaching delta 25 so taking action. Now paired up with 2225/2250 calls for a new condor.
TD Ameritrade-anybody else having trouble with the website?
Bought to Close SPX JUL 29 2016 1800/1775 Bull put spreads @ 1.20 (sold for 1.70)
Just playing it safe here…
This was more of a delta play vs a theta type trade. Taking it off now to cover margaritas for the week…LOL
Bought to Close SVXY DEC 16 2016 75.0 Call @ 3.00 (sold for 6.00)
No volatility here this week! 🙂 🙂 🙂
#SPXcampaign Bought to close $SPX June 15th 2060/2035 put spreads for 3.10. Sold last week for 1.70. One of those frustrating ones, with plenty of chances to close for breakeven or small profit, but it got away from me. Holding off on the roll until I see where SPX goes today.
BTO Aug 19 DIS 100 Calls at $2.35; earnings is Aug 9th and it is on a squeeze, and it is at support, so it may bounce up from here. Fib levels are at around 102 (38.2%) and 100% of previous move, so it may hit that level….My Delta position is 137 so it should make some money if it goes to that level. Time decay is not that bad and if it stagnate, it can be turned into a Calendar or a Diagonal to lower the cost. Earnings should make this expiration to increase in IV and this is a Vega positive position.
One last one before I go run errands.
STO July 15, 30 put @0.80
#SPXcampaign #CondorRoll Another 3-dollar stop hit, rolling into a condor.
Bought to close $SPX July 1st 1990/1965 put spreads for 3.00.
Sold to Open $SPX July 6th (Wednesday) 1825/1850/2160/2185 iron condor for 2.30, 1.5x position size.
$SVXY #ShortPuts – Sold SVXY Sep 16 2016 30.0 Puts @ 2.25. Three months to expiration with a breakeven below the 52week low.
edited to include the strike price
STO June 17, 40 put@.35
STO June 24 35 put@.70
That is it for me for today and probably the rest of the week.
STO Jun 15 2120/2110/2050/2040 IC @ 0.95, with SPX at 2077.
$UVXY #CoveredCalls #VXXGame – Sold UVXY Jun 24 2016 26.0 Calls @ 1.27.
This expires a week from Friday and is the highest available strike price
$UVXY #CoveredCalls #VXXGame – Sold UVXY Jun 17 2016 20.0 Calls @ 0.85. These expire Friday
$UVXY #VXXGame
Taking Iceman’s lead on good strikes to sell, I sold $UVXY Jul 15 32 calls @ 1.72. Highest strike in July.
$UVXY #ShortCalls #VXXGame – sold the following this morning
UVXY Sep 16 2016 115.0 Calls @ 1.00
UVXY Jan 20 2017 170.0 Calls @ 0.98
UVXY Jan 19 2018 115.0 Calls @ 4.25
http://www.bbc.com/news/uk-politics-32810887
http://durableportfolios.com/UK-European-Union-Referendum?gclid=Cj0KEQjw1v66BRCV-6rh6s-Biu8BEiQAelpuiwdHYz1Ix48GKw49kggucYLzvsxldcBdua8WO3Lr6bYaAr8x8P8HAQ
http://www.cato.org/blog/britain-leaves-eu-will-implode?gclid=Cj0KEQjw1v66BRCV-6rh6s-Biu8BEiQAelpuiy2OfPPS3ahIw8jg6UcMiw_J7dFo5w3HOY23LOF3mSQaAgMv8P8HAQ
$UVXY $VXX $SVXY – extreme moves today. After hours the moves have continued in the same direction.
I feel that we may be in for 5 to 10 more days of extreme volatility. But short calls on UVXY and VXX will ultimately work for those with patience and a lot of buying power. UVXY could double from here on a violent move but that would only take it to about 30.
Top of the chain UVXY Options which are available that I think would be good sales with acceptable premiums and low margin requirements:
July 15 32 calls
Sept 115 calls
Jan 170 calls
JMHO
$UVXY #ShortCalls #OptionLadder – why average up a trade when you can keep raising the strike price.
Sold UVXY SEP 16 2016 90.0 Calls @ 0.84 at 15:03:31
Sold UVXY SEP 16 2016 95.0 Calls @ 0.84 at 15:22:33
Sold UVXY SEP 16 2016 100.0 Calls @ 0.84 at 15:23:09
Sold UVXY SEP 16 2016 105.0 Calls @ 0.84 at 15:23:46
Sold UVXY SEP 16 2016 110.0 Calls @ 0.84 at 15:27:49
I would have kept going but I had to run someone to the airport
I am stopping out on three put spreads, details to follow. Not sure about rolls yet.
STO June 24, 37 put @.95
STO June 24, 36 put @.85
#LongCalls Sold to close $TLT June 17th 132 calls for 3.30. Bought for 1.48 (avg price) in April and May. Closed half my position; will leave half in case we get more upside this week, but won’t let us drop much.
STC Jun 17 FB 113/115/119 BW BF for $2.36 crd; Bought on FR for 1.16
STO July 29, 30 put @1.05
STO July 29, 35 put @1.75
CMG July 16 355/345 put sold for $1.05 when CMG at 399. seems currently over sold and bottom of Bollinger band. 10% ROI and delta around 15.
UVXY is working independently from SPX and the market.
It could be that the VIX and market volatility in the coming days will not be controlled as much by the market moves as it will be by the polling on the Brexit vote. It has been running neck and neck and may continue to do so into June 23rd’s vote.
It is widely believed that the UK’s exit from the EU would cause economic pain and market volatility. The “Leave It” campaign has been gaining in the polls which is possibly the reason for what we’ve seen Friday and today.
This would help explain the explosion we’ve seen in the VIX price which is not matched in its extreme by the indices. SPX is down less than .5%, while VIX has been up over 16% two days in a row. The last time the VIX was up over 16% was on Jan 7th, when SPX dropped 2.37%.
#ShortStock #CoveredPuts STO $FB July 8th 108 put for 1.20
Selling some puts in the Jul 22 weekly (likely before earnings). Strike is below the recent April low, and below the 200 day moving average, where the stock hasn’t been since January.
Sold $FB Jul 22 104 puts @ 1.07.
Interesting research on buying cheap OTM calls to reduce margin requirements when selling a strangle.
https://www.tastytrade.com/tt/daily_recaps/2016-06-08/episodes/strangle-replacements-are-cheap-wings-worth-it-06-08-2016
$NUGT #ShortPuts – Sold these paired with existing short Calls. These all expire Friday.
Sold NUGT Jun 17 2016 85.0 Puts @ 1.05
Sold NUGT Jun 17 2016 84.0 Puts @ 1.05
Sold NUGT Jun 17 2016 83.0 Puts @ 0.85
Sold NUGT Jun 17 2016 82.0 Puts @ 0.74
Sold NUGT Jun 17 2016 80.0 Puts @ 0.55
$UVXY #ShortCalls #VXXGame – Sold UVXY SEP 16 2016 50.0 Calls @ 1.44
Sold UVXY SEP 16 2016 55.0 Calls @ 1.25
On the reversal. Sold $NUGT Jul 15 60 puts @ 1.80. Offsets short calls.
$UVXY @ShortCalls #ClassicVXXGame – Sold some small risk calls at the top of the chain with the stock at 13.50
Sold UVXY Jan 20 2017 170 Calls @ 0.50
Sold UVXY Jan 19 2018 115.0 Calls @ 3.40
Even with the bounce we’ve gotten on the SPX, VIX and UVXY barely retraced down at all.
Followed @Iceman on these just as the Warning was firing earlier.
STO UVXY June 17th 19 calls for .19
STO UVXY June 24th 22 call for .56
STO June 24, 43 put @1.10
STO June 17, 42 put @0.20
STO July 1, 44.5 put@1.85
STO July 8, 40 put @1.35
#SPXcampaign Sold to Open $SPX July 14th 1910/1885 put spreads for 1.40, with SPX at 2089. This order was in before the Warning fired.
#VIXIndicator The Bistro VIX indicator has fired a downside warning. This means there is a high probability of a correction in the coming days or weeks. The VIX has increased 25% within 2 days, hitting 18.30, which is 25% above Thursday’s close. That was the first signal. Then we crossed 18.75, which is 50% above the most recent VIX low (12.50 from April 20th). That was the second signal, and two signals equal a WARNING.
Be leery of the downside, careful with any rolls. Historically, a bigger correction usually occurs after two signals fire; it could be this week, or it could occur weeks from now. To negate this warning, we would need new highs on the S&P (above most recent high of 2120.55, set last week), or the VIX closing three consecutive days below the 78.6% Fib retracement, or 14.32 (based on VIX intraday high of 21.01).
$SVXY #ShortPuts #VXXGame – some sales this morning. Maybe a bit early but they are all near term.
SVXY JUN 17 2016 42.0 Puts @ 0.20
SVXY JUN 17 2016 44.5 Puts @ 0.35
SVXY JUN 24 2016 44.5 Puts @ 1.05
SVXY JUL 1 2016 44.5 Puts @ 1.45
SVXY JUL 8 2016 44.5 Puts @ 1.80
$UVXY #ShortCalls #VXXGame – Sold UVXY JUL 15 2016 32.0 Calls @ 0.72. Adding on to my position
$UVXY #CoveredCalls #VXXGame – when the stock opened at 13 this morning I sold the following –
UVXY JUN 17 2016 19.0 Calls @ 0.19 – these expire Friday
UVXY JUN 24 2016 22.0 Calls @ 0.54
UVXY JUL 1 2016 25.0 Calls @ 0.70 – highest available strike price
UVXY JUL 15 2016 32.0 Calls @ 0.55 – highest available strike price
UVXY JUL 22 2016 22.0 Calls @ 1.42 – highest available strike price
#VXXGame
Sold $UVXY Jul 1 (weekly) 25 calls @ .60
Microsoft to buy LinkedIn for $26.2 billion; LNKD shares jump 48%
http://www.cnbc.com/2016/06/13/microsoft-to-buy-linkedin.html
Anyone sold LNKD calls will be deeeeep ITM.
Sold $NUGT Sep 16 185 call @ 14.00
Adding to highest strike.
Jeff, You are doing a good job with this site.
GM
#SPXcampaign Sold to Open $SPX July 14th 2175/2200 call spreads for 1.80. Trying something slightly different, selling calls at the bell on a Monday, even with market down. Premium seems to drain quickly from calls as the week progresses, so I think what I get here will be better than what I can get with SPX at 2100 later in the week. We shall see. But in any case, comfortably above all-time highs.
Friday’s move in the VIX was the biggest one-day change since January 7th, but fell short of firing a warning signal.
Monday’s signal levels in the VIX that would fire a Downside Warning are 18.30 (25% above 2-day closing low), and 18.75 (50% above Apr 20 low).
$NUGT 115 Call
$NUGT 60 Put
$WYNN 93/100 BUPS
$SPX 2170/2140 BECS
$SPX 2160/2135 BECS
Closed early
$TSLA June 17 245/240 BECS @ 89% profit
No assignments this week
What will next week hold?
#OptionsExpiration for Jun 10
Only one expiration this week
$NUGT 06/10/2016 115 calls
No assignments.
Have a great weekend!
#OptionsExpiration #Jun10 #Weeklys – wild ride this week. No assignments. Next week’s monthly expiration is a big one.
— Expirations —
DUST (Weekly) Jun 10 2016 22 Calls (Covered)
NUGT (Weekly) Jun 10 2016 50 Puts
NUGT (Weekly) Jun 10 2016 55 Puts
NUGT (Weekly) Jun 10 2016 60 Puts
NUGT (Weekly) Jun 10 2016 72.5 Puts
NUGT (Weekly) Jun 10 2016 73 Puts
NUGT (Weekly) Jun 10 2016 74 Puts
NUGT (Weekly) Jun 10 2016 75 Puts
NUGT (Weekly) Jun 10 2016 135 Calls
SVXY (Weekly) Jun 10 2016 45 Puts
SVXY (Weekly) Jun 10 2016 65 Calls (Covered)
UVXY (Weekly) Jun 10 2016 30 Calls (Covered)
