/ES/SPX/SPY #hedge Closed out the…

/ES/SPX/SPY #hedge

Closed out the /ES 2690/2700 back ratio for 300 or a $3025 loss. Just means the market did not crash.

So I have been trying to figure out a cheaper way to do these but still get the 10% coverage for a 10% down move. I came up with a modified risk twist/unbalanced butterfly. Cost about half as much as the back ratio.

BTO the Mar 2020 /ES 2790/2780/2770 butterfly. Ratio is one 2790 sold, bought three 2780 and sold one 2770 for $1690. About half the cost of the back ratio. Still good coverage and could always tweak the ratio if the market really starts to move. So this will only cost about $6800 per year instead of 12k but the deductible stays about the same.

Here is the graph and just put his on 10 minutes ago so can probably do the same. For every 100k in the account I would do 1.

2017-12-01-TOS_CHARTS

VIX hedge

#Hedge I’m calling it a hedge, but I’m not net long or short so it’s really just a trade.

Bought to open $VIX Jan 21st 17/20 call spread for .80

#butterfly #hedge ROKU I have…

#butterfly #hedge ROKU

I have a long suffering, inverted, Oct. 18, 85/105 strangle that is approaching break even with ROKU dropping below 105 after rocketing to the moon. I sold a 97/99/99/100 put butterfly for .34 for a little upside protection.

#optionsexpiration and actually these are…

#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.

#hedge
/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.

#pietrades
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

#fuzzy
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.

#lizardpies
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.

2017-12-01-TOS_CHARTS

7 points of downside protection. No risk to upside. Income over 3 weeks, can probably close early for 50% or more profit.

#hedge LULU In addition to…

#hedge LULU

In addition to the May strangle I sold today, I have had an April 18, 130/135 short ratio put spread (2 short 130s, 1 long 135) trade put on March 1. LULU has been up and down, trade hasn’t been profitable. I bought a March 29, 120/130 put spread for 1.33. If LULU drops big I have some insurance, will be OK on a big rise, the short 130s will cover the hedge.

SPY

BTO Apr 15 284/282 Bear Put spread .78 #hedge From TastyTrade

IWM

BTO Mar 22 154/152 Puts $.75 #hedge