VRTX closed

#Earnings #Assignment #IronButterfly #CoveredCalls
Sold $VRTX stock (100 shares) for 167.50.

Originally 160/167.5/175 iron butterflys (3) sold for 5.60 on Jan 31st. Closed most before expiration but forgot about one put, so assigned stock at 167.50. Sold today for the same price. With all premium selling and covered calls since then, total profit on the trade is $1,543.

Options Expiration 3/16/18

#OptionsExpiration #Earnings #ShortStrangles #SPXcampaign #VXXGame #LongCalls #IronButterfly

— Expiring w/max profit —
$DG 84 puts
$OLED 140 calls
$TIF 109 calls

— Expiring w/max loss —
$SPX 2840/2860 long call spreads, purchased for 1.00 avg price.
$UVXY 91 long calls… purchased for 0.158 avg price… served me well as hedges against short calls
$SQ long 60 calls, bought for 0.964, avg price

$SQ 50 long calls, bought for 0.858, avg price. Taking stock (200 shares, cost basis 50.86) and adding it to #CoveredCallCampaign

$AVGO 255 long put – I exited one 265 short put for 9.10. Then, volatility at the close denied my fill on closing more, PLUS, we dropped below my long strike. So, this likely means one spread expired ITM, so a 10.00 debit (against 7.60 sale), but I will likely be assigned short shares based on the ITM long 255 put. Because I feel this may bounce on Monday, I’m buying shares after hours so the assignment will cancel out my position and I’ll be flat. This would amount to about a 2.50 loss overall on the trade.

AVGO earnings

#Earnings Hasn’t been a huge mover, but can surprise and also has been in the news. So I’m taking a favorable R:R trade:

Sold to Open $AVGO 255/265/275 #IronButterfly for 7.60. Max risk, 2.40. Last quarter its one day move was zero. It opened up then traded down all day to end dead flat. Let’s do that again!

Earnings Updates

#Earnings #IronButterfly
Closed $VRTX Feb 2nd 167.5 calls for .55. Looks like we may be basing for the day, so closed the calls and will wait and close the short puts on a bounce.

Closed $AAPL Feb 2nd 162.5 short put for .70. Sold yesterday for 1.65. Looks like I’ll be assigned some stock today.

$AMZN – My strangles will be fine but having to decide when to close the iron butterfly. Right now it has about a $1200 profit but that will slip away if we keep going higher. Watching closely.

AMZN Iron butterfly

#Earnings #IronButterfly This one is worth trying each quarter in case AMZN does not move much. Risking 2.95 to make 37.05.

Sold $AMZN 1410/1450/1490 iron butterfly for 37.05. Will profit if AMZN ends tomorrow between 1412.95 and 1487.05.

VRTX earnings

#Earnings This one has not moved much on recent earnings, so doing a neutral #IronButterfly.

Sold $VRTX Feb 2nd 160/167.5/175 IB for 5.75, 5.56, 5.48 (total of 3, avg price 5.597 — I could only get 1 to fill at a time, and kept having to lower my ask).

Biggest UP move: 7.8%, Biggest DOWN move: -5.9%, Average move: 2.5%.

Risking 2.15 to make 5.59. Breakevens at Friday’s expiration: 161.91 and 173.09, or about +/- 4.3%.

Here are its last 12 earnings moves: -2.1%, -4.4%, 0.7%, 0.2%, 0.0%, 0.2%, 2.7%, 0.3%, 5.1%, 7.8%, -0.4%, -5.9%.

SPX trades

#SPXcampaign Since $SPX has been up only 5 times in the last 20 years on the last day of the year, I closed the put side of this #IronButterfly. Letting the call side expire.

Closed $SPX Dec 29th 2690/2665 put spread for 7.40. Sold in an #IBroll for 17.55 last week (with 2690/2715 calls)

Also, trying to shake up this dull market: Sold June 3rd 2650/2675/2690/2715 #IronCondor for 6.50. These expire in just two trading days. My expectation is a slight drop tomorrow and then an up day on Tuesday.