Rolling everything out 2 weeks for vacation 🙂
Some of these are still open positions.
MU 55 call rolled out 2 weeks for 1.27 credit. Cost basis 56.23. Another 2 rolls should bring profit.
WDC 8/3 75 put was sold last week for 1.29
EXPE 7/27 115 put sold last week for 1.90. Both of these are going into earnings as 21 DTE #pietrades.
AMAT lot 1 47 CC rolled out 2 weeks for 0.28. Cost basis 50.83. Will take a few more rolls on this.
FAS 64 cc rolled out 2 weeks to 65 for 0.31 credit. Cb now 63.10.
TQQQ 59 CC rolled out 2 weeks for 0.85 credit. cb now 57.80
XBI #fuzzy 87/96.5 rolled out to 8/3 for 0.30 credit. Cb decreased to 9.72. May reset in 2 weeks by rolling both up a few strikes if it keeps going.
AMAT lot 2 47 cc rolled out 2 weeks for 0.27 credit. Cb now 47.40 so should see profit in another 2 rolls.
That’s it for now. Letting theta decay pay for vacation, at least I covered the airline tickets in cash today on sales/rolls 🙂
Sorry @fuzzballl UAL was cheaper than AAL but we may make the news if we get thrown off the plane 🙂
Have a good expiration and week, check in when we get back but not even taking a computer. Need to unplug!!!!
Sold JPM Jul20 106c @ 2.10 x4. Bot in layers for avg price of 1.40.
Still holding JPM fuzzy Jul20 105c/105p/102p 1/-1/1 @ .70. Current price 2.03
STC Jul 6 1675.0/1677.5 #supercharger, with a few BuPS from 6/19 multi trades.
Finally closed this 260.50 Profit. A bit of work. Am trying to make all trades work by adding additional trades to make up any loss before closing it all and starting over again.
There was 5 different trades in this one.
XBI 87 2019 leap and short 95.5 call rolled up to 96.5 and out to July 27 for 0.29 credit. Total risk and cost basis now down to 10.02 in 2 weeks. Initial cost was 10.63.
I think #supercharger and #fuzzy are the best for small accounts. This is only a 2 k account and up $300 in 2 weeks or 11% over that time. Also because of the spread it lowers the volatility.
Sitting on hands until next Thursday, the will roll everything out 2 weeks for vacation.
The 95 short strike was already breached so rolled this week 95 out to 11 DTE 95.5 for 0.32 credit. Total risk now down to 10.31. Goal is to have a zero cost basis trade in 10-20 weeks or if the short calls keep going ITM close it for profit and reset at higher strikes.
Looks like I am being assigned or assigned early on TQQQ, FAS, MU, and will sell calls on Monday. This morning’s bounce looked like it would make these a lot easier. We have comcast at work and entire east coast internet was out which made work hard with an EHR. Looks like the bounce fizzled later afternoon.
Anyway, for those with big accounts, you can take #pietrade one step further. If I had bigger accounts I would do this. The decay is great on weeklies, but weeks like this they all tend to get run over at the same time. I personally would run 3 different names in each account and since I have 5-6 accounts that would give good diversification. My ultimate goal is to sell #pietrade ladders. Start the process 21 DTE. Each week add a new trade in the same 3 names. But for example using XBI. The 7 day ATM put is going for 0.77-.99 (95-96 strike) so can’t even get a buck. But if you go out 21 DTE you can sell the 92 put for 1.03-1.10. Three more dollars OTM so less likely to be breached and if you are breached probably at a better place to take assignment because it is a much bigger pull back. The only draw back is you are in the trade 2 more weeks and tying up capital.
But if your goal is income and you have a large enough account, it would be highly effective. I have tried it on small scale and whenever I was assigned they ended up wining in 1-2 weeks because it was usually at the end of a pull back. I could only run 3 contracts on 1 name or 1-2 contracts on 3 names. So it was not bringing in my income goal but when the accounts are larger this will be my main trading tactic.
Ultimate goal is 10 contracts on 3 names in each account for 3 weeks rolling. If you can get $1.00 or better that would be $3000 a week x however many accounts you have. Nice paycheck either way 🙂 To do that probably need a 300k account if using margin or twice that in a non margin account. You would also need names around $100.
Have a great weekend, update which calls I sell on Monday. If looks like more of a rebound I may leave them uncovered for a few days.
#fuzzy in a really small account, 2 contracts.
XBI Jan 19 long 87 call short July 6 95 call for 10.63. With 29 weeks left only need 0.29 per week to make it a risk free trade.