On my 2045/2035 for tomorrow; I may take it out at the close if I don’t seen buying coming in after 3:00PM ET. The problem is that it is too close and a gap down tomorrow will hurt it. So why risk it?
Recent Updates Page 548
NXPI and VLO management
#Earnings… got some movement today in stocks I was assigned through earnings plays.
$VLO, was assigned short shares at 65.00. Been selling puts and calls, raising my cost basis. Today closed some Nov 13th 71 calls for .08, and sold a Nov 27th 65 covered put for .55
$NXPI was assigned long shares at 86.00. Yesterday sold Nov 20th 85 covered call for .95, and today a Nov 20th 75 put for .60. Lowering my cost basis by selling premium.
Robert and Mort I see…
Robert and Mort I see the 0.5 support at 2055 then 2038
STO SPX Nov 13 2045/2035…
STO SPX Nov 13 2045/2035 for $2.30 crd. Stop at 2050.30
SPX support at 2055 confluence…
SPX support at 2055 confluence from several Fib-Nodes. It should hold here, if it doesn’t then the next support below it is at 2038 and then 2022 and 2016.
SPX 1-day spread
#SPXcampaign Selling $SPX Nov 13th 2025/2000 put spreads. These expire tomorrow, assuming we won’t go too much lower, so risky… stop at 3.00. I have sold a couple for 1.10, looking for 1.20 for more.
ZSL May call
#ContangoETFs Sold $ZSL May 20 2016 180 call @ 6.50. Highest strike in May.
#SPXcampaign Sell to open $SPX…
#SPXcampaign Sell to open $SPX Dec 11 1900/1875 put spread for 1.30. Getting back in the queue after not opening spreads for couple of weeks.
Closing trades for margin clearance
#ContangoETFs Bought to close $ZSL Nov 20th 150 call for .25. Sold for 6.10 on August 25th
#SPXcampaign Bought to close $SPX Nov 13th 1970 puts for .15. Sold as part of 1970/1945 put spreads for 1.35 on Oct 23rd.
TZA calls
#ContangoETFs Sold to open $TZA Dec 18th 50 calls for 1.55.Even on the extreme volatility spike of 8/24 this only topped out at 56.
SPX another call spread closed
#SPXcampaign Bought to close $SPX Nov 27th 2160/2185 call spreads for .15. Sold for 1.25 on Oct 28th.
$UVXY calls
Sold Dec 18 70 calls @ 1.08. Taking advantage of the move down in the market to get some positions in December.
SPX call spread close
#SPXcampaign Bought to close $SPX Nov 27th 2165/2190 call spreads for .15. Sold as part of an iron condor roll on Oct 23rd.
Good morning
Futures are plummeting… our current $VIX warning signals are 19.11 and 19.20…. so if we get that high both signals would be hit on the same day, meaning we’d enter a Danger Zone. If that happens, look to take profits/stops early on $SPX put spreads and be cautious when selling new ones.
$TDG earnings look to be a beat, so that should open higher and the 200 puts can be closed early.
Welcome to any new members! Please be sure to Reply to Posts with trades, questions, or comments.
Test Post
Hey gang, It’s Kelly. Making my first post to make sure I’m set up properly
This is a test. Thanks,…
This is a test. Thanks, Jeff.
SPX call spread close
#SPXcampaign one minute after the close: Bought to close $SPX Nov 13th 2110/2135 call spreads for .20. Sold for 1.20 on Oct 22nd. Was planning to let this expire Friday, but I hadn’t taken off my GTC order yet. It filled right after the bell, so now I can forget about it.
SPX Dec 11th put spread
#SPXcampaign Sold to Open $SPX Dec 11th 1920/1895 put spreads for 1.25, with SPX at 2075. This is the second and final put spread I’m selling for Dec 11th expiry. I also sold a call spread yesterday, so I need one more call spread to complete the Dec 11th campaign.
KOLD call
#ContangoETFs Sold to Open $KOLD Nov 20th 136 call for 5.60.
I’m underwater on a handful of short calls in this one, so pressing it a bit here, but this strike is at its recent high, and this is juicy premium for only 8 days until expiration. Also selling puts against the calls, waiting for the eventual fall.
Test Post 1
Jeff, thanks for inviting me.
TDG earnings play
#Earnings Sold to Open $TDG Nov 20th 200 puts for 1.40. Never traded this before, but it is not much of a mover on earnings. Over last 12 quarters:
Biggest UP move: 4.2% Biggest DOWN move: -4.4% Average move: 2.3%
These expire NEXT week, and are 9.5% out-of-the-money. IV should drop by at least 10% tomorrow.
If selling naked options, be sure to use an appropriate position size for your account.
Closed TZA calls
#ContangoETFs Bought to close $TZA Nov 20th 50 calls for .12. Sold for 1.50 on Oct 21st.
NXPI covered call
#Earnings #CoveredCalls Sold to Open $NXPI Nov 20th 85 call for .95. This is against the stock I was assigned at 86 on an earnings trade.
SPX bottom picking
#SPXcampaign Working on selling my second put spread for Dec 11 expiry… trying to pick the bottom; now looking at 1910/1885 for at least 1.25
ZSL Dec calls
Sold the highest strike in December. $ZSL 155 calls @ 1.40.
SPX pre-market put spread close
#SPXcampaign In pre-market, bought to close Nov 19th 1925/1900 put spreads for .20. Sold for 1.25 on Oct 27th.
ZSL forward split
#ContangoETFs Starting on Friday $ZSL will be trading at half its current price, and any positions will be doubled in size.
http://finance.yahoo.com/news/proshares-announces-etf-share-splits-203000108.html
Quiet day…
Could be even slower tomorrow on Veteran’s Day.
Welcome to new members coming in today. Feel free to reply to this post if you have any questions about the site or the trades.
SPX Dec 11th call spread
#SPXcampaign Sold to Open $SPX Dec 11th 2165/2190 call spreads for 1.25, with SPX at 2082.
SPX campaign PDF now available!
Just click the link at the top of the screen: “SPX Strategy PDF”. Enjoy!
TSLA
BTO TSLA Nov 222.5/212.5 put spread a bear flag on 78 min. $221.84 when I bought spread
BTC SPX DEC1 15(12/4/2015) 2175/2200…
BTC SPX DEC1 15(12/4/2015) 2175/2200 BeCS @.35 hit 20% STO on 11/3/2015
KOLD puts
#ContangoETFs STO $KOLD Nov 20th 105 puts for 2.05. These are against several short calls I’m already short.
$SVXY puts
#VXXGame Using today’s pullback to add positions in a weekly where I didn’t have any.
Sold $SVXY Dec 4 (weekly) 50 put @ 1.55.
NUGT reverse roll
#ContangoETFs #ReverseRoll
Made the mistake of selling some puts too early… but no worries since it is easy to flip these…
BTC $NUGT Nov 20th 30 put for 5.25. Sold for 2.50 on Oct 12th.
STO $NUGT March 50 calls (x2) for 3.10 each.
$NUGT Calls
$NUGT #ContangoETFs – Taking a small shot in a ticker that’s already a big winner the last couple months…
Sold NUGT DEC 11 2015 40.0 Calls @ 1.10
WordPress Mobile Apps
Just thought I’d let everyone know I’ve installed the mobile WordPress app on my Android phone and my iPad. They look and work great!
SPX roll iron condor
#SPXcampaign Sold to Open $SPX Nov 30th (monthly) 1915/1940/2145/2170 iron condors for 2.00, as a roll from the Nov 13th 2040 spread closed earlier today, 1.5x position size.
I chose Nov 30th expiration as it is not part of the normal weekly strategy, since it is an end-of-month expiration, this time on a Monday. Therefore I had no spreads already in this expiry. I chose an iron condor to balance the risk on both sides, so I could go further OTM on the puts and above all-time highs on the calls.
SPX close call spread
#SPXcampaign Bought to close $SPX Nov 13th 2130/2155 call spreads for .25. Closed today to free up some margin space.
S&P Eminis
/ES #Eminis – I’ll go long here or cover shorts if I have any left by then…
SOLD /ES JAN 16 1900 PUT @ 15.25
$OPHT TOS TTM Squeeze
$OPHT Rally mode…
TOS had it in a 5 day squeeze that finally fired long. John Carter says his TTM squeeze indicator will generally run 8 to 10 bars and today is day 11. Hey @Scottto are you smiling?? Wish I had a bigger position. Short 40 and 45 puts for Nov and Dec. The next REGN? Guess we’ll know soon.
$UVXY #VXXGame
$UVXY #ContangoETFs #VXXGame – These should be safe even if we get another August type selloff…sitting on a few short Eminis as a hedge.
Sold 1 UVXY JAN 15 2016 70.0 Call @ 1.60
Sold 1 UVXY JAN 15 2016 75.0 Call @ 1.40
Sold 1 UVXY JAN 15 2016 80.0 Call @ 1.30
Sold 1 UVXY JAN 15 2016 90.0 Call @ 1.05
Sold 1 UVXY JAN 15 2016 95.0 Call @ .95
$ZSL $AGQ and TDA margin
$ZSL $AGQ #ContangoETFs – Since TDA jacked up our margin requirements on ZSL I’ve been using short AGQ calls instead of short ZSL puts. Serves the same purpose for much less margin. Finally paying off…
Min value commission free…
Bought to Close AGQ NOV 20 2015 38.0 Calls @ .05 (sold for 1.06)
SPX freefall! Another spread bites the dust.
#SPXcampaign Well, we knew downside was bound to come… just maybe not all in one day. I put on a couple of aggressive Nov 13th put spreads in recent days to take advantage of non-stop upside. Got stopped out of 2050 spread already, now
Bought to Close $SPX Nov 13th 2040/2015 put spreads for 2.95. $3 stop was hit; waited for bounce to get out cheaper. Will wait before rolling this one.
After this, I have a fair amount of room before other put spreads are threatened.
Current signal levels for a downside warning to take effect are $VIX 17.91 (1-2 day 25% increase), and 19.20 (50% up from swing low). The 17.91 is from Friday’s low, so will be in effect until end of Tuesday.
SPX rolled put spread
#SPXcampaign #Rolling Sold to Open Nov 19th 2010/1985 put spreads for 2.15. This is a roll from put spread stopped earlier today, 1.5x position size.
SPX stop-out
BTC for 3.00.
SPX stop-out
#SPXcampaign Taking a stop on $SPX Nov 13th 2050/2025. It’s difficult to do that at what could be the bottom of the day, but that’s what stops are for. Trying to get out for 2.90 on a bounce.
ZSL call
#ContangoETFs This one keeps rising, which would be scary if I hadn’t seen it die above 120 so many times before.
STO $ZSL Jan 2016 140 call for 3.60
PCLN earnings trade
PCLN earnings trade
Bought to close $PCLN Nov 13th 1650 calls for .05. Sold for 2.40 on Friday.
SPX Dec 11th put spread
#SPXcampaign STO $SPX Dec 11th 1940/1915 put spreads for 1.30, with SPX at 2091. This is the first of two put spread I will sell this week for the Dec 11th expiry.
SPX Dec 11th on deck
This week I’m selling spreads in Dec 11th expiry, and with the down open I will look for a put spread in the first half-hour of trading.
Options Bistro week 2
Another week, another new look. This one should be more permanent. Now, comments appear under each post without having to click through to them. Also, the name of the Member who posted leads each entry, along with a photo or avatar.
Starting this week, Members besides me will be able to post to this blog. To do so requires an invitation from me and each user to register at wordpress.com. To start, I have invited Ramie, Fuzzball, and Steveo. After we get accustomed to using the site with multiple contributors, I will send out invitations to other followers. Stand by for emails and further announcements. In the meantime, please feel free to post your trades, questions, or comments as replies to any of the posts.
And you can always click ‘Home’ at upper left to list all posts and refresh for new ones.
I will also be announcing this site to additional traders, and posting the PDF of the SPX strategy.
Thanks again for being the first members of Options Bistro!
FB closing earnings iron butterflys
BTC $FB Nov 6th 103 call for 4.30
BTC $FB Nov 6th 104 call for 3.25
I collected 8.00 total in premium when selling two iron butterflys, so with these closing trades I am left with .45 in profit.
Options Expiration 11/6/15
Anyone wanting to list their expirations for today can reply to this post with their expirations for today. Have a great weekend, everyone!
One Week In!
Thank you all for being the “beta” group for the first week of OptionsBistro. I am working on several changes you will see by Monday, including a more condensed look to the posts and the ability for users to make entries. There will also be more people, as I will announce the blog to additional groups of traders.
Thanks again, everyone!
VLO rolls
Was assigned short stock last Friday at 65.00, and sold some more calls that went ITM. Rolling out as follows, staying short the stock.
BTC $VLO Nov 6th 70 calls for 1.62. Sold for .40 on Tuesday.
STO VLO Nov 13th 71 calls for 1.60
STO VLO Nov 13th 68 puts for .27
PCLN earnings trade
#Earnings Sold to Open $PCLN Nov 13th 1650 calls for 2.40. This is 14.7% OTM. Only selling calls because premium is much lower for puts this far OTM. Stock is bullish but also a bit extended.
Over last 12 quarters on earnings,
| Biggest UP move: 8.5% | Biggest DOWN move: -8.4% | Average move: 4.7% |
You have to go back 13 quarters, to July 2012, for a -17% down move. And you have to go back to August 2010 for a higher UP move, +21%. That was when PCLN was trading near $300.
SPX roll iron condor
Replacing the 2095 calls I had to close this morning for 4.70.
Sold to Open Nov 13th 2020/2040/2125/2145 iron condors for 3.00. 1.66x position size.
BOIL call
Added one more ETF on intraday Nat Gas reversal; new high in $BOIL
STO BOIL March 35 call for 2.30.
Closed SPX 2095 calls
#SPXcampaign BTC $SPX 2095 Nov 6th short calls for 4.70. Missed my shot to get out below 2.00. Action looks bullish, so not risking the possibility of ending the day above 2100. Will look to get a few cents extra by selling the long 2120 calls if I can. Also will look for a roll candidate spread.
Up from here?
Looks like downside could be finished
TICKs still bearish, but $SPX moving up
Contango ETF madness
STO $DUST Dec 11th 30 call for 1.25
BTC $NUGT Dec 18th 60 call for .40. Sold for 6.50 on Oct 9th
BTC $NUGT Jan ’16 60 call for .90. Sold for 8.50 on Oct 14th
BTC $NUGT March ’16 75 call for 1.50. Sold for 11.00 on Oct 15th
BTC $ZSL Dec 80 put for .30. Sold for 1.75 on Oct 28th
STO $ZSL Nov 20th 120 call for 2.60
STO $ZSL Jan ’16 145 call for 2.70
STO $ZSL Feb 165 call for 2.55
SPX 6-hour put spread
#SPXcampaign Sold to Open $SPX Nov 6th 2075/2060 put spreads for 1.00. More available now, but you’d have to act quickly. Stop is at 3.00.
Closed STMP puts
#Earnings Bought to close $STMP Nov 20th 60 puts for .10. Sold yesterday for .90
Closed DATA calls
#Earnings Bought to close $DATA 99 calls for 3.20… taking a loss on the trade before it gets too high. Sold the strangle yesterday for 1.95.
Good morning – Fri Nov 6th
Good news on the jobs front… futures down on the news, but could end the day anywhere. I need to exit an $SPX 2095/2120 call spread at some point. If we are strong up I will also look for an aggressive roll of the 2075/2100 I closed last night, as well as another Dec 4th call spread.
$DATA earning huge, will try to close 99 short calls early to avoid an intraday surge to 100 or higher. $STMP play a slam dunk, stock up huge.
Gold & Silver look to be tanking. Look for opportunities for call sales in $DUST and $ZSL.
SPX call spreads and NON-Farm Payrolls
Closed for 18.60. Will look to replace with another aggressive spread tomorrow or next week.
SPX call spreads and NON-Farm Payrolls
I am planning to close at least one of my threatened SPX call spreads before the close, and it will probably be the ITM Nov 6th 2075/2100 that I sold on Monday. The reason is, if we move higher on the report, this spread will become completely ITM, cost 25.00 to close, and will be very difficult to roll (since you cannot get 25.00 for ITM spread that have time premium in them). If you followed me into that spread, consider this to avoid the chance of ending higher than 2100 tomorrow.
WEBINAR Link info – November 5, 2015
Hello, here is the link to today’s webinar! Please reply here if you haven’t yet signed up and would like to attend. There are a couple spots left. OR, if you signed up but now cannot make it, please reply as well.
Jeff Payne is inviting you to a scheduled Zoom meeting.
Topic: SPX Campaign Webinar
Time: Nov 5, 2015 2:00 PM (GMT-8:00) Pacific Time (US and Canada)
Join from PC, Mac, Linux, iOS or Android:
STMP Earnings Trade
Sold to open $STMP Nov 20th 60 puts for .90.
I haven’t traded this one before, and even though it is 16 days to expiration, the premium is jacked for options 20.9% OTM. It mostly has moved UP on earnings. Historical volatility shows we should see a huge drop in premium tomorrow.
| Biggest UP move: 27.7% | Biggest DOWN move: -16.1% | Average move: 16.4% |
| Aug. 6, 2015 AC | 27.74% |
| May 7, 2015 AC | 20.40% |
| Feb. 11, 2015 AC | 19.45% |
| Nov. 5, 2014 AC | 13.08% |
| July 30, 2014 AC | -8.31% |
| April 30, 2014 AC | -16.10% |
| Feb. 13, 2014 AC | -6.93% |
| Oct. 23, 2013 AC | 12.96% |
| July 31, 2013 AC | 9.45% |
| April 24, 2013 AC | 27.07% |
| Feb. 13, 2013 AC | -14.62% |
| Oct. 25, 2012 AC | 20.18% |
Selling Calls ZSL, DUST
Added more:
STO $BOIL March 50 call for 1.05
STO $BOIL March 30 call for 3.50. Not far OTM, I know, but this one is the perfect Contango ETF, always headed down.
DATA earnings trade
#Earnings Sold $DATA 69/99 strangles for 1.95. Over all of its earnings announcements (10):
| Biggest UP move: 17.2% | Biggest DOWN move: -10.7% | Average move: 9.3% |
These strikes are 17.9% OTM.
SPX Dec 4th (2nd) put spread
#SPXcampaign STO Dec 4th $SPX 1940/1915 put spreads for 1.25, with SPX at 2092. This is the second and final put spread for the week of Dec 4th. I have one call spread remaining to sell for that week… possibly wait for next week if we get no more upside move this week.
Adding NXPI puts
#Earnings I’m playing both sides of this after being assigned stock, and no watching it gyrate as it creeps its way back up. Sold covered calls earlier this week. Now today:
STO $NXPI Nov 13th 75 puts for .70
Selling Calls ZSL, DUST
Moves in the metals today giving opportunity:
STO $DUST Dec 18th 30 call for 1.00
STO $DUST March 18th 55 call for 1.25
STO $ZSL Nov 20th 120 call for 1.90
STO $ZSL Feb 150 call for 3.40
