Been looking for an opportunity to get back into this stock. Nice setup and still high IV (IVR 60). Sold 3/20 65 puts @ 1.59. The major moving averages converging above the strike price so if support doesn’t hold down there I’ll exit. Alternative trade 3/20 65/60 bull put spread for 1.30-1.35.
Closed #Fuzzy $3.55 Net $212.00 2 Wks
BTO Jan 31 33/35 BuCS $0.86 in-out spread
Sorry forgot to post this one.
12-26 BTO #Fuzzy Buy Jan 24 30 Call Sell BPS 30/29 Net cost $1.37 Up nicely at this time. Earnings near EOM
Bot Dec 17.5 Fuzzy last week for tariff hedge, .18 net debit
Sold at the open for .20 net credit
Basically a scratch
Charlie McElligot at Nomura is issuing a lot of gamma red flag warnings for a vol shock. What the heck…a nice time to dust off a fuzzy in VXX.
Dec 20 Bot 17.5 call
Dec 20 Sold 17.5 put
Dec 20 Bot 15.5 put
Net price: .18 debit
I would guess vol stays steady here due to upcoming tariff increases on Dec 15, so I think not much decay on this–it’s a cheap way to get on some long gamma.
Rolled the 125 #jadelizard converted to a #fuzzy down to 95/95 strikes. Short option 15 DTE. When all cleared my cost basis is now 37.33. Need about 0.33 per week to break even and have until Jan 2022 to do it.
I am done with earnings. Too random and binary. 6 out of 9 of my earnings trades this year imploded even with some limited risk positions.
This one trade reduced my yearly profits by about 20% for the year even being only a 7% position in my portfolio.
Black swans are more common than the options price for.
Did not take my own advice, tried another earnings trade and now losing 6 out of 9. EXPE missed earnings by 0.60 and down over night by 17. Opened this morning down 31 or 22%. Had a #jadelizard at 125/144/145. Obviously the 125 are now way ITM.
Converted to a #fuzzy but will take a long time to make the loss back. Bought the 2022 125 put for 27.92 plus will use some more cash to roll my short put down and out.
Will let the call side expire worthless just to now spend any more money on the trade. This had been my biggest winner for the year. 1 night wiped out 11 months of gains on EXPE.
Letting LABU, TQQQ and TNA all be called out tomorrow. All profitable but I am exiting the triple game after seeing the tasty trade research.
Also staying out of earnings as much as I can. My earnings track record is not so good, lost on 8 out of 5 when I decided to stay out a few quarters ago. I will stay in them if I already have #fuzzy on.
Making enough money just doing #pietrades, #fuzzy, #hedges, and Pie trade #optionladder that I can stick with those. May be boring to some, but it is mechanical and it works. 2 accounts hit all time highs the last 2 weeks and both had SVXY in them. 2 down, 1 to go but that was the biggest loss and will take more time but on a portfolio basis I am back above my cost basis so technically all the losses have been covered 🙂
20 months to break even.
Plan not to ever do that again 🙂 🙂
And the hedges will help, see below.
#Markets – Falling knife stocks at new lows:
NKTR – Nektar Therapeutics
DLPH – Delphi Technologies PLC
CBS – CBS Corporation
OI – Owens-Illinois, Inc.
AMG – Affiliated Managers Group, Inc.
VIAB – Viacom Inc.
SLB – Schlumberger Limited
ADS – Alliance Data Systems Corporation
HPQ – HP Inc.
FCX – Freeport-McMoRan Inc.
ABMD – Abiomed, Inc.
OXY – Occidental Petroleum Corporation
FANG – Diamondback Energy, Inc.
CCL – Carnival Corporation & Plc
AMCR – Amcor plc
HP – Helmerich & Payne, Inc.
CXO – Concho Resources Inc.
EOG – EOG Resources, Inc.
DO – Diamond Offshore Drilling, Inc.
SCHW – The Charles Schwab Corporation
Is showing a possible reversal on the 5 minute for /ES.
IBB STO the other side of the strangle at 103 c for 0.65 for 11/8 exp. Strangle is now the 101.5/103 for 3.45 credit total after some rolls. I am trying this as an experiment based on the TT research. Open initially at 43-45 DTE then manage at 21 DTE no matter what. Rolled the put side last week. They showed that beats all other management tactics for selling options so seeing how it works in real time with real money. 10 contracts so there is some skin in the game. So far so good, showing an $875 profit even with the puts being ITM. If it works will set up ladders on various ETFs. Single tickers would use #jadelizard to avoid upside risk.
XBI rolled the short 80 put from 10 DTE out to 24 DTE for 0.42 credit. Cb 13.66.
LNG 60/65 rolled out to 45 DTE for 0.52 credit. Cb 7.12.