BOIL call

#ContangoETFs Sold to Open $BOIL March 105 call for 6.80. Building back recent losses slowly.

BOIL & DUST closed

#ContangoETFs I’m shedding one a day. I can’t roll these, as the current mania could keep going higher. They will have to be made up with multiple smaller premium trades after things settle down.

BTC $BOIL Jan 18th 45 call for 23.60. Sold for 2.40 (avg price) in Sept/Oct. Closed this morning before the move from 60 to 70. I have 4 ITM contracts remaining.

BTC $DUST Jan 18th 50 call for 1.10. Sold for 4.00 on Aug 16th.

BOIL stats

#ContangoETFs I searched back for spikes on BOIL that were over 50%. Below is a chart with:

Date of the High
Percentage up from the recent low
Weeks it took to go UP low to high
Weeks it took to go back DOWN to the low (or at least in the neighborhood)

As you can see, from a percentage basis, this current spike is the highest. We also got here more quickly than other spikes above 100%. I don’t know whether we can say that this means we should be topping. But the freak out of current traders, being long oil and short NatGas, is largely responsible for what we’re seeing now.

We know it will drop again, but cannot say how long that will take or how high it will go first.

Screen Shot 2018-11-14 at 10.31.34 AM


#CoveredCalls – From what I can tell so far I think all of these will make very good long term covered call candidates. Would love to own ’em all at a low basis for nice income generation. Compared to regular dividend stocks I think these can blow those returns away. More volatile but that’s great for the selling…


BOIL strikes

#ContangoETFs Surge continues. New strikes added up to 66.

BOIL stopped

#ContangoETFs I got a handful of $BOIL Jan 45 calls, so I need to start rolling out.

BTC 2 of them at 7.00 and 7.10. Sold for 2.40, avg price .

Will consider rolls next week. Need to see if this is going to keep pushing higher.

BOILing higher

#ContangoETFs New highs today. For those of you without the history, scroll through the daily chart back a few years. You’ll see it can have some strong pushes up, but it always comes back down. Since winter hasn’t started, we could see this uptrend continue for weeks. If you’re forced to roll, you can decide whether to stop out today, and wait to sell replacement calls days or weeks later. Be very careful selling puts. It can work great as we fly higher, but don’t sit in short puts waiting for the last few pennies. Take profits, because when this thing turns around, it’ll drop fast.

Just note, the effective price when this thing started in 2011 is 4,000. It WILL come down eventually.