LABU RTN SMH TQQQ WTW

#LongCalls #LEAPS – A few adjustments to bring in a little more (hopefully safely)….

LABU:

Rolled LABU DEC 7 2018 65.0 Calls to DEC 7 2018 55.0 Calls @ .61 credit

RTN: Replacing this week’s expiration.

Sold RTN NOV 30 2018 187.5/197.5 Bear Call Spreads @ 1.08

SMH:

Bought to Close SMH NOV 16 2018 98.5 Calls @ .05 (sold for .49)
Sold SMH NOV 23 2018 97.0 Calls @ .60

TQQQ:

Rolled TQQQ NOV 30 2018 57.5 Calls to TQQQ NOV 30 2018 52.5 Calls @ .73 credit

WTW: Double selling with stops on previous sales.

Sold WTW NOV 30 2018 52.0 Calls @ .70

EWW

#LongCalls #LEAPS – Triple selling these. Stops on previous two sales…

Sold EWW NOV 30 2018 43.5 Calls @ .38

XBI

#LongCalls #LEAPS – These only need 50 bucks a week so staying careful with spreads…

Sold XBI DEC 7 2018 84.0/89.0 Bear Call Spreads @ .61

SMH

#LongCalls #LEAPS – Got out of half of this week’s so I can get the next sale going on the bounce. Still sitting on my nickel for the rest…

Bought to Close SMH NOV 16 2018 100.0 Calls @ .04 (sold for .58)

Sold SMH NOV 23 2018 97.0 Calls @ .45

UNG

#LongPuts #LEAPS – Adding and averaging down. Hopefully have these paid for by the end of the coldest weather…

Bought UNG JAN 17 2020 28.0 Puts @ 2.95
Bought UNG JAN 17 2020 28.0 Puts @ 2.75

UVXY

#LongPuts #LEAPS #ShortCalls – Taking a little risk off and looking for new sales…

Bought to Close UVXY NOV 23 2018 75.0 Call @ .75 (sold for 2.55)
Bought to Close UVXY NOV 30 2018 80.0 Call @ 1.09 (sold for 6.32)

WYNN

#LongCalls #LEAPS – I’m finding another advantage of going out in time as far as possible. There’s no need to get super aggressive with weekly sales. Still very easy to cover cost by selling about 30 days out leaving plenty of room for whipsaw. Here’s my WYNN example:

Bought to Close WYNN NOV 9 2018 115.0 Calls @ .05 (sold for 1.32)

This reduces the basis on the 130 strike LEAPS to 23.05

With 26 months to go that only requires .87 per month to cover the cost so:

Sold WYNN DEC 7 2018 115.0 Calls @ 1.13

Expected move on the Dec 7th expiration is about 12 dollars so even though selling below the LEAPS, it’s still outside the expected move and well above the .87 required.