Rolling just about everything. As I mentioned will not list all my ongoing trades, just list new ones going forward or ones that were listed before I had to drop out.
Tried a directional trade on /ES at the open, lost $700 when my stop was hit.
XBI 82.5 put rolled down to 80 for 9/6 for 0.26 credit. Cb 79.74 if assigned
EOG 85/83.5 #fuzzy rolled out to 9/13 for 0.45 credit. Cb 17.89
LABU 41 puts rolled down to 38 and 9/13 for 0.5, 0.45, 0.55 credits. cb ranges from 37.45-37.55
GILD 65/65 #fuzzy (some of these were on before March injury) rolled for 0.51 credit. Cost basis now 0.53, 3.20, 6.72, and 2.52. A few will be 100% returns and free trades in just a few more rolls.
TQQQ 62.5 rolled down to 60 for 9/13 for 0.67 credit. Cb 59.33
Hope everyone is doing well. I suspect there will be some more rolls before my trades break even or make money.
SQ 8/23 65 puts closed for 3.95 or 2.72 loss per contract. I was going to convert to a #jadelizard but do not have time and also took the loss to avoid margin issues so I can stay in my other trades.
First losing trade on SQ this year.
Lots of other trades/puts are ITM but they still have good theta decay so will adjust those tomorrow.
Had a few extra minutes for lunch so:
LNG 67.5/67.5 #fuzzy rolled down to 60 for 1.55 debit and cb of 9.30.
EOG 87.5/87.5 #fuzzy expiring this week rolled down to 75/75 for next week for 3.16 debit. Cb now 18.34
Converted short puts that are way ITM to #fuzzy to the 65/65/61 put strikes. Cost basis 9.39 and 8.96 and will sell weeklies until 2021.
Only had 2 contracts but this allowed me to increase to 7 contracts so a lot more weekly selling power/income.
We ran an experiment with XBI from June 21 on strictly weekly sales at the 80/85 strikes. 60% ROI since then or 520% annualized returns which is a lot more than we expected. Will keep it running and see how it works out longer term. I would expect less going forward but interesting that certain tickers trade LEAPs better than others.
#optionsexpiration and actually these are for next week, I rolled everything today.
Sorry I have not had time to post for anyone that was following trades. I will do a better job of at least a weekly update. That is how I trade. 95% of my trades are on Thurs. so a weekly update should keep things up to date.
Lots of trading last few weeks but equity curve flat. Need the trade tariff BS to end. Not good for business 😦
Most of my trades have been converted to #fuzzy or #lizardpies for recovery.
/ES 62 DTE 2610/2605 back ratio has made a few $. It’s real purpose is to guard against a 2/6/18 or 8/24/15 event. Hope I don’t need it but would get a lot of cash then. However like an insurance policy I expect to lose on this.
LABU 45 cc at 44.25 cb and 40 cc at 37.13 and another batch of 40 cc at 38.42
TNA 60 cc at 59.69
TQQQ 63 cc at 62.15
AMAT 22 DTE 42 CC at 41.04. Assigned off a 43 put but had some credits as a cushion
EOG 92.5/90 rolled down to 87.5/87.5 for a little debit. Cost basis 15.44 but because I had made some on the longs it put some cash back in the account.
GILD 65/65 rolled next week for 0.29 credit. Cost basis 5.91. Should not be too much longer for a free trade.
LNG 67.5/67.5 rolled for 0.34 credit. Cost basis 9.99 down from 15.57 at onset only 4 weeks ago.
XBI 80/80/85 rolled for 0.70 and cb 5.57
XBI 80/85 cb 12.50. This is a new batch we are doing live as an experiment. Avg. about 4% cost reduction per week. With monthlies it is larger about 6-8% but the theta decay is slower. 6% per month is 96% per year.
GILD 65/65 rolled for 0.28 for cb of 3.78. Freebie soon I hope 🙂 but this is also an experiment that will be taken all the way to expiration in 2021.
GILD 65/65 rolled for 0.28 at 6.45. Same as above but this is tracking the compounded addition of contracts as the rolls spit off cash.
IBB 103.5 rolled down to 102/102/102.5 for total credit of 0.84. This has been recovered all the way from 107/109 strikes. Shows the flexibility of the #jadelizard as a tactic for adjustments.
IWM rolled down from 150 to 149/149/149.5. Reduced debit from 2.11 to 1.63 as I have recovered this from 155/157 strikes. I gave back a little credit to reduce margin.
SQ 63.5/63.5/64 rolled for total credit of 2.19. Looks like it found a bottom.
XBI 81.5 rolled down to 81/81/81.5 for total credit of 2.35.
LNG 64/64/64.5 rolled down from 66 for 1.68 total credit.
Once I can close a few of these, hopefully next week, will start some 21 DTE #lizardpies and create ladders. Some of them will be skewed to downside to just have steady income with every expiration and let them expire each week. Add new ones every Monday or Thurs.
Stay nimble, I suspect there is more volatility ahead but take advantage of the increased premiums 🙂
Here is an example of a 22 DTE #lizardpies I am looking at.
7 points of downside protection. No risk to upside. Income over 3 weeks, can probably close early for 50% or more profit.
/ES hedges are working well, just wish I had more of them. May add some more but looks like have found a bottom at least for today. Not being political but the tweeter in chief really needs to shut up and realize tariffs are bad for business.
Sorry I have been quiet the last few weeks. After recovering and getting back to work I have barely had time to eat. We had to move 400 patients while I was out and it really messed up the schedule. Hope to be caught up in the next few weeks. Also have not found a good way to separate the service trades from my other trades as they are often similar.
Anyway, I have been adjusting jade lizards and have found them to be easier to roll than just a put or a call. I was able to roll IBB down on Thurs. from 107.5 to 103.5 for a 0.01 debit. 4 points of extra downside for 1 penny, I will take it. Because I am selling the straddle the credit can often offset the drop.
So anyway here are my current positions. All will need adjusting this week. If we keep falling will convert some to LEAPs/ #fuzzy.
90% of these expire this week.
/es back ratio hedge, 79 DTE 2610 short 1 and long 2 2605 for 21.50 or $1075 for every 3 contracts. Up nicely 🙂 and I may roll down to take out some cash.
GILD 65/65 at cost basis of 6.79, 4.68, and 7.35. Keep working to zero cost basis.
IBB 103.5/103.5/104 jade lizard rolled down Thurs from 107.5 for 1 cent debit. CB 103.51. Will roll or convert
iWM 155.5 converted to 155.5/155/5/156 jade lizard for 0.30 credit. CB 154.18 will need roll
LNG 67.5 put was converted to #fuzzy for cost basis of 10.33
SQ 73.5/73.5/74 cb 1.27. Needs rolling.
XBI 84/84/84.5 jade lizard for 1.49 credit. Cb 82.51
LABU 50 cc for cb 46
QQQ 185/188 for 3.26
XBI 80/85 for 7.57 and 13.81
LNG 65.5/65.5/66 for 1.44 credit this morning
TNA 64 cc for 61.97
TQQQ 66 cc for 63.94
AMAT 43 puts for 1.03 cb 41.97
Obviously most of these will need rolling or adjusting toward the end of the week. We keep falling I will convert most to LEAPs on the put side.
May 17 51 Call STO 51/50 BuPS .62
Back at work so have not had time to update. Managed to get a few trades in. This is update of current positions.
Tues. STO IBB 107.5 5/3 put for 1 right before the medicare for all gave all the biotechs and insurers a haircut. Will be adjusting this for a few weeks.
IWM STO the 5/10 152 put for 1.21 today. May convert to #lizardpies depending on market moves
LNG 67.5 put was rolled down last week for cost basis of 66.8. Need to adjust and exp. 5/3.
AMAT 43.5 CC expires next week. cb 42.55
ERX 23 cc expires today/assigned and cb 21.81
LNG batch 2 same as above but cb 67.15. Had a better fill.
TNA expiring today 65 put rolled to next week 64 for 0.48 credit. Cb 63.52 if assigned but will manage
TQQQ 53.5 cc expires next week. 56.75 cb. I tried to roll it but the MM are being greedy bloodsuckers so will take the minor loss and use the money on something else.
AMAT 41.5 put expiring today rolled to 42.5 next week for 0.42 credit. Cb 42.08.
EXPE 113/130/131 for 5/10 credit now 3.84. Hope to close next week.
SQ 74/78/78.5 adjusted Tues for additional credit. 72.81 cost basis
GILD 65/65 cb down to 7.34
GILD batch 2 65/65 cb at 5.23
XBI 80/80/85 rolled today. Cb 8.96
I am trying a 21 DTE OTM experiment as I noticed while I was off OTM options usually crushed by over half from 21 DTE down to 14 DTE if they stayed OTM. Percentage wise much better than 45 DTE and really not to much closer to the money on strikes. Maybe 1-3. Will keep posted but I am hoping there will be a lot less adjusting. Adjustments just decrease profits. Will keep you posted.
Hoppy Easter everyone 🙂