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NUGT puts
#ContangoETFs Threw some out there as it has come down off its highs:
STO NUGT March 11th 35 puts for 1.10
STO NUGT March 18th 30 puts for .85
Each put I sell gives me a margin credit since I’m short so many calls. I will add more if premium rises. Need to be ready for a quick drop in NUGT but these are easy to roll or reverse-roll to calls once the inevitable down move begins.
$UVXY Yesterday I sold a…
$UVXY Yesterday I sold a feb. 26, 36/30 BuPS for .94, with today’s run up I bought back the 36 for .38 for a 1 day gain of .56
$SPY #ironcondor STO April 15 178/174/203/207 for 1.04
An open question on the UVXY trades.
The UVXY is the Pro-Shares Ultra VIX Short Term Futures ETF…so when the IV goes up it goes up.
So now that the market is going down, and VIX is goin up then the UVXY is moving higher.
But I see you guys selling BeCS on the UVXY.
Could some one tell me please why?
What is the reason for selling BeCS now when by waiting you may get a better price?
I’ve never traded this and would like to understand the reason for your trades.
Thanks,
TRADES:
KMI BTC 3/4/16 18.0 CALLS @.51 STO @.54
UVXY 3/11/16 55/75 BeCS @.98 Don’t usually do these, but wanted the experience. Pay to learn. Followed @fuzzballl? ;>) Thanks kid.
UVXY call spreads
Selling these against a chunk of 35 puts in same expiration…
Sold UVXY MAR 11 2016 55/75 Bear call spreads @ 1.10
and…turning this into a full position:
Sold UVXY JUN 17 2016 80/100 Bear call spreads @ 1.50 (sold as high as 3.00 a few days ago)
UVXY mgt
#VXXGame Closed down some winners so I could start new positions:
BTC UVXY March 18th 110 calls for .47. Sold for 2.90 in early Feb
BTC UVXY March 18th 120 call for .38. Sold for 2.60 on Jan 25th
BTC UVXY March 11th 90 call for .28. Sold for 2.50 on Feb 5th
and starting…
STO UVXY March 11th 75 calls for .55
$UVXY following vxxkelly in my…
$UVXY following vxxkelly in my spread way STO April 15 BuPS 24/18 for .92
$SPY #ironcondor closed March 4…
$SPY #ironcondor closed March 4 178/175/196/200 for .93, sold for 1.93. The calls had some room to run but closing a little early has been keeping me out of trouble
$GDX
Strong as death again today. Attempting to pull it back down.
STO Mar 4 $18 puts @ $0.33
I’m watching the SPX 1917-18…
I’m watching the SPX 1917-18 Level since it is a Fib K-Node plus it will close yesterday’s gap. That should hold the market for a bit…IMHO.
Sold to openSVXY, April 15, 30 put @1.50, I am replacing covered calls that I was assigned on.
consumer confidence number declined 5.6…
consumer confidence number declined 5.6 points to 92.2 in February, missing the consensus of 97.2
SPX puts sold
#SPXcampaign, showing down the gauntlet and selling a put spread, which will probably allow this market to start dropping precipitously. This is the first 5-week put spread I have sold in two weeks.
Sold to Open $SPX March 24th 1750/1725 for 1.35, with SPX at 1931.
FSLR earnings
#Earnings FSLR reports after the bell, but I’m not seeing enough premium for a safe neutral play. It has had fairly decent moves on earnings, meaning an iron butterfly would likely fail, but there isn’t enough premium in adequately far OTM strikes to sell a strangle or condor. Over the last 12 earnings, Biggest UP move: 17.6%, Biggest DOWN move: -13.8%, Average move: 10.2%. Staying outside its biggest move would mean you assume a Max Proj UP move to: 74.64, and a Max Proj DOWN move to: 52.36. Not enough premium for me so I’ll skip it. Would love to see anyone else’s ideas if they’re out there.
$UVXY
STO Apr 15 $23 puts @ $1.10
STO UVXY MAR4 16 (3/26/2016)…
STO UVXY MAR4 16 (3/26/2016) CALL @.60
STO UVXY MAR4 16 (3/26/2016)…
STO UVXY MAR4 16 (3/26/2016) 105 CALL @.57
TLT added
#LongCalls Added to the positions started yesterday:
BTO TLT March 18th 130 call for 1.75
BTO TLT April 15th 133 call for 1.48
$FSLR earnings after the close.
Any thoughts or plans for anyone on an earnings play? @Jeff, any numbers for expected move?
NUGT near-term
#ContangoETFs While volatility has relaxed, NUGT has replaced UVXY for same-week, far OTM call sales. Added some more:
STO NUGT Feb 26th 70 call for .50 (added)
STO NUGT Feb 26th 68 calls for .65
I’ll add another to each if they go up by a nickel.
$CMG
Quick, early profit. STO Mar 18 575/580 BeCS yesterday for 0.60
BTC today for 0.25 for a quick 58% of max profit in a day. This was the original plan to close for just over 50% max profit.
VIX levels
As I posted yesterday, VIX has reached support level of 19.20. Yesterday’s close was lowest in 2016 and the 6th straight day lower, which we hadn’t seen since the October rally. Today should be a key day.
$NUGT
STO Mar 11 $30 puts @ $0.50
SPX Support for Tue Feb 23, 2016
Support at 1894-95 and 1860-62 retracement from the 2/11 low to the 2/22 high.
There is also Support at 1928-1930; K-Node at 1917-20 and the top of the gap on 2/17 1896-1900.
Resistance levels are the same as yesterdays.
SVXY
Busy all day today…did manage to sell some covered calls in the #IRA ….
Sold SVXY MAR 18 2016 40.0 Calls @ 1.50
$YHOO #ironcondor followed from tastytrade…
$YHOO #ironcondor followed from tastytrade STO April 15, 27/24/33/36 for 1.08
$UVXY Feb. 26, 36/30 BuPS for .94. The 30 is a margin saver, I’ll own it down here if it doesn’t work out.
A SHORT STRANGLE:
$DUST STO 3/24/16 4.50 PUTS @.65
$DUST STO 3/24/16 6.50 CALLS @.40
Stock hasn’t been 4.50 since Oct. 2013. Will either buy the stock if call go ITM, or roll it out and up. We’ll see.
Building my Options expiration list for 3/24. ;>)
XOP Bearish Diagonal.
STO Mar 18 23.5 Put and BTO Apr 2nd 27.5 Put Total debit of $2.48 pp
UVXY roll
#VXXGame I have a put spread in a smaller account, so before it gets ATM I wanted to roll, since spreads are harder to roll than naked:
BTC $UVXY March 18th 35/33 put spread for 1.05. Sold for .52 on Feb 12th
STO UVXY April 1st 30/28 put spread for .77.
Plan to make it an iron condor once we get some upside.
#Gold $GDX
Definitely diverging today. Gold is down $20 from 4pm on friday yet $GDX is actually up on the day.
$TLT #followed Jeff on the…
$TLT #followed Jeff on the March TLT
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY Apr 15 2016 50.0 Calls @ 0.45. Newest monthly cycle started today.
SPX BeCS
STO Apr 1 2050/2060 BeCS for 1.05
$UVXY #ShortPuts – Sold UVXY…
$UVXY #ShortPuts – Sold UVXY MAR 24 2016 23.0 Puts @ 0.27.
TRADES:
NUGT STO 3/11/16 75.0 CALLS @1.80 Followed Jeff, Thank you sir.
NUGT STO 3/24/16 75.0 CALLS @3.10
ETE BTC 2/26/16 8.0 CALLS @.30 STO @.34
ETE BTC 3/4/16 7.50 CALLS @.70 STO @.45
ETE BTC 3/4/16 4.50 PUTS @.12 STO @.55 Earnings after the bell, didn’t want to hold. Don’t need the drama.
The golden volatility cross
We’re here again. SVXY is back higher than UVXY.
And the futures are in contango for the first time in quite a while: vixcentral.com
$SVXY #CoveredCalls #VXXGame -adding to…
$SVXY #CoveredCalls #VXXGame -adding to my positions
Sold SVXY Jun 17 2016 60.0 Calls @ 0.50
Sold SVXY Sep 16 2016 60.0 Calls @ 1.75
Covered calls on WMT
Sold Mar 18 66.50 calls @ .70
$UVXY #ShortPuts – Sold UVXY…
$UVXY #ShortPuts – Sold UVXY MAR 18 2016 24.0 Puts @ 0.23.
Sorry, that was for April 1 expiration
$ETE #EARNINGS AMC
$ETE #EARNINGS AMC
SPX, sold to open 2035/2060 call spread for 3.30
$SPY STO April 1, 201/206…
$SPY STO April 1, 201/206 BeCS for .88
#coveredcalls re-upped on some covered…
#coveredcalls re-upped on some covered calls this morning.
USO March 18 9.50 @.33
HAL March 18 35 @ .35
SUNE April 15 3 @ .14 yes I’m stuck with some SUNE
DDD March 4 11 @ .30
DOW March 11 50 @ .41
would love to have to roll every one
#CoveredCalls – Using Market strength…
#CoveredCalls – Using Market strength to scalp some premium in stocks that I own or have short Puts in or both –
— Weeklys —
Sold BBY FEB 26 2016 33.5 Calls @ 0.22
Sold CVX FEB 26 2016 92.0 Calls @ 0.18
Sold JOY Feb 26 2016 14.0 Calls @ 0.12
Sold FB FEB 26 2016 111.0 Calls @ 0.23
— Monthlys —
Sold COG MAR 18 2016 25.0 Calls @ 0.40
Sold HP MAR 18 2016 60.0 Calls @ .85
Sold KATE Mar 18 2016 20.0 Calls @ 0.40
$SVXY #CoveredCalls #VXXGame – Finally…
$SVXY #CoveredCalls #VXXGame – Finally some decent premiums –
Sold SVXY Mar 18 2016 45.0 Calls @ 0.35
Sold SVXY(Weekly) Mar 24 2016 45.0 Calls @ 0.45
Sold SVXY Jun 17 2016 60.0 Calls @ 0.45
Sold SVXY Sep 16 2016 60.0 Calls @ 1.60
TLT long calls started
#LongCalls Opened new positions in March & April after doing well with long calls in Jan & Feb. I think this will continue higher and that rates still go lower.
BTO TLT March 18th 130 call for 2.40
BTO TLT April 15th 133 call for 1.95
I will add more, hopefully on pullbacks.
SPX and VIX levels
1950 a key level in SPX… not only a K-node for the Fib lines (Robert’s post below) but also the Feb 1st swing high. Also, VIX coming down to 19.20 level, which is the 100%-mark above Oct 28th low. This was support on Feb 1. If we can break these SPX and VIX levels decisively, it’s quite bullish.
PNRA calls
STO PNRA March 18th 210 calls for 3.20. Making up for some losses on the earnings play last week. Seems to be fairly murky getting through the 200-210 level, but only using half-position thus far. #Earnings
NUGT rolls
#ContangoETFs Slowly adding safer positions to make up for the 30-handle calls that ripped my face off.
STO $NUGT March 11th 75 calls for 1.80
$GDX
Rebounding even though Gold is weak, I suspect that the strength in $XME is flowing over to $GDX
oil is up 5
oil is up 5%
Jeff I am a astonished…
Jeff I am a astonished to see not many trading UVXY, any comment(s)
Bought to close March 11, 1640/1665 bull put spread for 0.15, sold at 1.40
$NUGT $UVXY
STO $NUGT Feb 26 $33 puts @ $0.30
STO $UVXY Mar 11 $30 puts @ $0.45
Resistance for Monday Feb 22, 2016
GM
Resistance for Mon Feb 22, 2016
1934
1945-50 K-Node
1960
1970-72
1977-80
2000-2002
2009-2010
2023-25
Expiring
$ULTA 190/180 BECS
$UVXY 70/60 BECS
$KMI 15 Put
$LULU 52.5 Put
$UVXY 29 Put
$SVXY 30 Put
$NUGT 58 Call (covered)
$BOIL 22 Call (covered)
$RLYP 25 Call (covered)
$MBLY 33 Call (covered)
$KMI 15 Call (Buy/Write)
$GPS 26 Call (Buy/Write)
Assignments
$THC 25 Puts (going long)
$RLYP 25 Puts (going long)
$RLYP 22.5 Puts (going long)
Compromised Spreads (ouch)
$NFLX 2/19 95/100 BUPS Total Loss
$GOOGL 2/19 710/720 BUPS STO 2.05: BTC .2
$AMZN 2/19 530/535 BUPS STO .6: BTC 3.78
$AMZN 2/19 530/540 BUPS STO 1.55: BTC 7.4
#OptionsExpiration for Feb 19 Expiring:…
#OptionsExpiration for Feb 19
Expiring:
$AMZN 02/19/2016 485.00 puts
$AMZN 02/19/2016 600.00 calls
$CMG 02/19/2016 400.00 puts
$DUST 02/19/2016 36.00 calls
$FB 02/19/2016 118.00 calls
$GOOGL 02/19/2016 687.50 puts
$KMI 02/19/2016 15.00 puts
$KOLD 02/19/2016 215.00 calls
$KOLD 02/19/2016 115.00 puts
$KOLD 02/19/2016 123.00 puts
$LNKD 02/19/2016 125.00 calls
$LNKD 02/19/2016 95.00 puts
$LNKD 02/19/2016 100.00 puts
$LULU 02/19/2016 58.50 puts
$MAT 02/19/2016 23.00 puts
$NFLX 02/19/2016 109.00 calls
$NFLX 02/19/2016 110.00 calls
$NUGT 02/19/2016 58.00 calls
$NUGT 02/19/2016 60.00 calls
$NUGT 02/19/2016 15.00 puts
$NUGT 02/19/2016 33.00 puts
$RRC 02/19/2016 20.00 puts
$SVXY 02/19/2016 35.00 puts
$SVXY 02/19/2016 63.00 calls (covered)
$SVXY 02/19/2016 65.00 calls (covered)
$SWHC 02/19/2016 20.00 puts
$TWTR 02/19/2016 15.00 puts
$TZA 02/19/2016 80.00 calls
$UVXY 02/19/2016 66.00 calls
$UVXY 02/19/2016 85.00 calls
$WFM 02/19/2016 31.00 puts
$WHR 02/19/2016 110.00 puts
$WMT 02/19/2016 65.00 calls (covered)
$XOP 02/19/2016 34.00 calls
$ZSL 02/19/2016 75.00 calls
$ZSL 02/19/2016 97.50 calls
Assignments:
$RIG 02/19/2016 18.00 puts (going long stock)
$WFM 02/19/2016 31.00 calls (stock getting called away)
Have a great weekend everyone.
#optionsexpiration BWLD Feb. 19 iron…
#optionsexpiration
BWLD Feb. 19 iron condor
DDD Feb. 19 12 call (covered)
AMZN Feb. 19 long call spread loser, hoping for a bounce
HAL Feb. 19 32 call (covered)
HYG Feb. 19 long call loser
IWM Feb. 19 iron condor 93/90/105/108
QQQ Feb 19 iron condor 95/92/107/110
SPY Feb. 19 BuPS 173/178
SPY Feb. 19 BuPS 179/184
SPY Feb. 19 BeCS 197/203
SUNE feb. 19 5 calls (covered)
SHWC Feb. 19 23 covered call, called away
USO Feb. 19 10.50 covered calls
S
Thank you to all
#Options Expiration
$NUGT $33 puts
$NUGT $35 puts
$NUGT $40 puts
$NUGT $55 calls
$NUGT $65 calls
$UVXY $66 calls
$UVXY $75 calls
$UVXY $80 calls
$UVXY $85 call
$UVXY $90 calls
$UVXY $95 calls
$UVXY $100 calls
OptionsExpiration 2/19/16
— Expiring w/max profit —
BOIL 22 calls
DUST 21 calls
EQIX 240/260/320/340 iron condors
KOLD 215 call
KOLD 110, 115, 123 puts
NUGT 58 calls
NUGT 28, 33, 34 puts
ZSL 70 & 75 calls
ZSL 45.5 puts
— Assignment —
NOW 60 puts, assigned long stock
— Expiring w/max loss —
HYG 81 long calls, followed a big spec trade on this for .16
FOSL 28/32/36 earnings put fly; I went bearish, stock went bullish
Have a great weekend everyone!
FB and PNRA earnings mgt
#Earnings Since I sold too many puts after being assigned, I’m taking off a couple today to leave my short stock position on:
BTC FB Feb 19th 108 put for 3.50. Sold for 1.10 on 2/2
BTC FB Feb 19th 105 put for .50. Sold for .70 on 2/1
BTC FB March 18th 100 put for 2.10. Sold for 2.30 on 2/5
STO FB April 1st 112 call for 1.50
BTC PNRA Feb 19th 200 calls for 3.45. Sold as part of a condor for 1.95 on Wednesday. Patience didn’t work with this one. May look to sell a roll next week.
$DUST #ShortPuts – Bought to…
$DUST #ShortPuts – Bought to close DUST Feb 19 2016 5.0 Puts @ 0.05 to avoid possible assignment tonight.
Sold these a few days ago for 0.15.
$NUGT #ShortCalls #Rollup – As…
$NUGT #ShortCalls #Rollup – As VXXKelly and Ramie have been pointing out, NUGT is bound to pull back at some point, or maybe just fall because of the normal drag on these kinds of stocks.
The trick is sticking around long enough to take advantage of the pullback. When rolling an ITM short call position there are two objectives:
1. Bring in more cash on the new position than you spend getting rid of the old position
2. Increase your likelihood of an expiration down the road by selling at a higher strike price
There is no way to predict with accuracy where this stock will go tomorrow much less a month from now, but using the chart you can get a feel for the likely trading range.
I made the following roll today and I think it has a better than even chance of being successful. The new position will not take too much monitoring on my part because it will run for two weeks, and I likely will be able to sell two sets of weekly puts against these calls, bringing in even more premium dollars.
Bought to close NUGT Feb 19 2016 40.0 Calls @ 10.92
Sold to open NUGT Mar 04 2016 42.0 Calls @ 11.55
I have bumped my profit point about 2 1/2 points higher between the higher strike price and the extra premium dollars.
Hope laying out my thinking helps others in a similar circumstance,
Riding out KOLD
I’m short 215 calls for today’s expiration. With KOLD at the 210-211 level, I’m watching closely. If this shoots up this afternoon I may employ the Iceman strategy of buying the stock and allowing it to get called away instead of trying to get out early and getting jammed on the market maker’s wide bid/ask spread. White knuckling it for now.
$NUGT
Ramie posted some info this morning on the performance drag between $NUGT and $GDX during 2015. Here’s a recent example.
2/12 GDX closed at $18.84 $NUGT closed at $56.87
2/18 GDX closed at $18.90 $NUGT closed at $54.72
So in just a few days, GDX returned to basically the exact same level but NUGT was more than $2 lower.
BTO $CBP 3/18 $61 put…
BTO $CBP 3/18 $61 put @ $1
Another AMZN spread closed.
Closed another AMZN spread. Feb 19 540/545 call spread. STO yesterday for .80 and BTC now for .06.
92.5% of max profit in a day.
UVXY BIB
Just checking in…not much going today. UVXY 45/55 call spread in #IRA I’ll be watching closely this afternoon. Picked up a little BIB stock at 40.25 for a flip on the next nice up day also. Was in and out of a /VX VIX future this morning for a scratch at 23.15.
Good luck everyone…looks like it’s shaping up to be a quiet day. (famous last words…LOL!)
$AMZN call spread closed
$AMZN call spread closed
UVXY STO call MAR2 2016…
UVXY STO call MAR2 2016 (3/11/2016) 95 at 0.62
$GPRO #coveredcalls #rolling Rolled Feb….
$GPRO #coveredcalls #rolling Rolled Feb. 19 12.5 to March 18, 14 call for .46
TLT long calls
#LongCalls STC $TLT Feb 19th 123 call for 8.10. Bought for 2.13 avg in December. Got one more left so I will try to top-pick.
JWN earning closed
#Earnings Bought to close $JWN Feb 19th 45 puts for .15. Sold yesterday in a condor for .50. Wanted to let this expire but I don’t trust it or the market, especially with any big drops in retail stocks on earnings lately.
