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 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.
/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.
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.
BTO Apr 15 284/282 Bear Put spread .78 #hedge From TastyTrade
BTO Mar 22 154/152 Puts $.75 #hedge
Wish I had kept my SPX hedges on. A $3 put that I had on at 2550 is now trading for $21.40-22.
Most months you never need it. Last few weeks it is almost a mega millions or power ball ticket.
Once we settle down I will always keep one of these on. Either long puts, ratio, or risk twist for times like this. Then you have a pile of cash you can deploy when the market tanks.
#Hedge – I didn’t think this would pay until the election. It may do better but I’m booking it while it’s nice and green.
Sold 10 VIX Nov 11/13/17/21 double verticals @ .56 (bought for .10)
Actually left the long 11’s on for maybe a drop…