GILD short puts

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

#Fuzzy VXX Bot Dec 17.5…

#Fuzzy VXX

Bot Dec 17.5 Fuzzy last week for tariff hedge, .18 net debit
Sold at the open for .20 net credit
Basically a scratch


#Fuzzy VXX Charlie McElligot at…

#Fuzzy VXX

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.

EXPE earnings disaster

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.

Earnings blow up EXPE

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.