#LongCalls #LEAPS – This thing is in a squeeze that could go either way. Selling this new batch a couple weeks out and won’t hesitate to roll if deltas become negative. 2020 position that need 66 cents per week to be covered a year early.
Bought to Close RTN JUN 8 2018 217.5 Calls @ .10 (sold for 1.25)
Sold RTN JUN 22 2018 217.5 Calls @ 1.25
#LongCalls #LEAPS – Booking and selling…
Bought to Close AMBA JUN 8 2018 51.0 Calls @ .05 (sold for 1.60)
Sold AMBA JUN 15 2018 44.5 Calls @ .85
#LEAPs
BTC $TQQQ June 22nd 60.83 calls for 1.75. Sold for 1.20 yesterday.
Sold TQQQ June 29th 56 puts for 1.15.
Will sell new calls at new highs.
#shortputs Sold ROKU 37 Puts @ .45 when ROKU was at 38.05 this morning.
#bullputspreads
AMZN Sold to open June 15th 1580/1600 @ 1.04 when AMZN was at 1683.
Closed the June 8th 1585 / 1650 @ .20 Opened it yesterday @ .45
#LEAPS Sold my ERX 2020 36 Call @ 10.96 for a small gain. I have struggled to manage this effectively and decided to take it off. Especially after Jeff’s reminder of pricing on 3X ETFs.
#spxcampaign Closed my June 15th 2565/ 2585 BuPS for .25. Originally sold for 1.15.
#LEAPs #SyntheticCoveredCalls
Sold short-term calls against 2019 long leap calls. Lots of bullish movement has me #Rolling a lot.
Yesterday:
Sold $SQ July 6th 63.5 call for 1.77
Sold $PYPL July 6th 87 call for 1.15
Today:
Closed PYPL June 15th 83 call for 2.00. Sold for 1.25 last Thursday.
Closed SQ June 22nd 61.5 calls for 2.02. Sold for 1.40 on Friday.
Will look to replace these today.
Also gotta roll $TQQQ calls I sold yesterday, already breached.
#LongCalls #LEAPS – Now that we’ve got the upside risk to these somewhat contained I gave some thought over the weekend (scary!) about the other risk to these that I’ve noticed concerning the downside and possible whipsaw.
Even with the LEAPS, if the stock has moved against you quite a bit they can pretty quickly start running out of juice to sell against when they get down to the last 6 or 7 months. For instance my LUV 2019 60 strike LEAP calls are already down to 1.60 with 7 months still to run. Eventually these positions reach a point where the LEAPS don’t protect the short calls very much on a big whipsaw even if selling less than a full position.
So…what’s a possible remedy to this? Here’s what I’m planning for the stocks that I don’t mind selling against for the long term. I am going to roll my current LEAP position to the next LEAP as soon as it’s available. The debit is minimal and gives a LEAP to sell against that still offers some upside protection.
Then…think of it this way. Each year you don’t have to sell enough to cover the entire cost of the LEAPS…just enough to cover the cost of the debit roll to the next year when it comes out. Everything beyond that is profit. I feel like longer term the debit roll will be covered very easily and subsequent debit rolls can be taken out of the long term profits and they won’t even be an issue. Also when these rolls are done it will allow any adjustments to be made to the LEAP strike prices if you feel it’s necessary.
Here’s what I did with TSLA this morning. Since I’m wanting to sell against it long term and I’ve already got a 2020 position on the call side I’m rolling my 2019 put side out to 2020. This evens things out and gives another year of selling for a minimal debit.
Rolled TSLA Jan 2019 300/200 BePS to Jan 2020 300/200 BePS @ 8.50 debit.
That’s a small price to pay for an additional year of selling and avoids even the slightest whiff of theta working against the position. When the 2021’s come out in a few months I’ll re-evaluate to see if a roll would help.
#LEAPs #SyntheticCoveredCall
Closed $TQQQ June 8th 59.17 calls for 1.00. Sold May 14th for 1.16 (effective price)
#Rolling Sold June 22nd 60.83 calls for 1.20.
May also add short puts if we get any pullback.
#PieTrade BTC $AMAT June 1st 51.5 call for .12. Sold for .75 on Tuesday.
Sold June 8th 52.5 call for .55.
#CoveredCallCampaign #coveredcalls
BTC $BABA June 8th 190 put for .25. Sold in a #StrangleRoll for 5.28 on May 10th.
Sold $FB June 29th 200 call for 1.90.
#LEAPs #SyntheticCoveredCall
BTC $TQQQ June 8th 52.5 puts for .20. Sold in a #StrangleRoll on May 14th for 2.10 (effective price)
#LongCalls #LEAPS – Earnings next week also…
Bought to Close AMBA JUN 1 2018 51.5 Calls @ .05 (sold for .91) full position
Sold AMBA JUN 8 2018 51.0 Calls @ 1.60 (80 percent size)
#LongCalls #LEAPS – Rolling….since this is only an 80 percent position with no upside risk I can roll but don’t have to go crazy. Picking up a little more upside with some credit also.
Rolled TQQQ JUN 1 2018 56.5 Calls to JUN 8 2018 57.17 Calls @ .13 credit
I like having the oddball strikes now…LOL
#LongCalls #LEAPS – Rolling out and up…
Rolled AZO JUN 1 2018 642.5 Call to JUN 15 2018 650.0 Call @ 1.74 credit
#LongCalls #LEAPS – Interesting characteristic I’ve noticed about these risk analysis charts….this one is AMBA where I’m evaluating my options for next week (earnings).
If you change the strike price on the next sale the entire curve moves vertically up and and down with no change in the curve itself. The big factor for changing the chart is the number of weeklies sold. TOS is great for setting this up and then manipulating the numbers on the potential trades and seeing the exact effect.
These 3 charts are selling 3, 4, or 5, against a 5 lot with no change in strike price…
#LEAPs #SyntheticCoveredCall
I’ve been watching @fuzzballl‘s LEAP plays and thought I’d use a couple of Jan 2019 call positions for the strategy. I’ve already been doing this with $TQQQ long 50 calls. (Jan 2020).
In November and this month, I bought two $PYPL Jan 2019 100 calls for 2.66 average price. These are at a small loss now. I need only .08 per week, so I will be selling 2-4 weeks out.
Today, sold PYPL June 15th 83 call for 1.25. I only sold one for now, will likely do these piecemeal rather than all at once. If I start to acquire a lot of these plays, I may prefer all at once.
In Nov, Dec, and Jan, I bought 4 $SQ Jan 2019 60 calls, 3.52 avg price. These are now more than doubled.
I’ll be selling weeklys against this; orders in to catch the next pop. I need only .11 per week.
I bought these OTM so it’s much easier to cover the cost than the TQQQ ITM call purchase.
Two different positions:
#LongCalls #LEAPS – Booked the original weekly sales and threw on an additional sale hoping for a quick double dip…
Bought to Close DG JUN 1 2018 101.0 Calls @ .02 (sold for .65)
Sold DG JUN 1 2018 92.0 Calls @ .35
#JadeLizard – Original sale was 95/104/106 Jade Lizards @ 2.13.
Closed the call side for .02. Did that mainly for risk reduction when I sold the additional calls above. Still sitting on the short 95 puts with a basis of 92.89. Will probably roll them and then sell additional calls in my LEAPS position above.
#LongCalls #LEAPS – Nice pop again today and now reaching negative deltas for the second time already even after yesterday’s roll. That’s my signal to book and wait for a pullback.
Sold to Close LABU JAN 17 2020 84.87 Call
Bought to Close LABU JUN 8 2018 92.5 Call
Quick little 10 day trade booking 3.42 per contract. Wish all experiments went like this! Only one contract but I’d say LABU is definitely staying in the watchlist.
#LongCalls #LEAPS #UnbalancedDiagonal – Book it. Still selling in a quantity that practically eliminates upside risk just in case…
Bought to Close EWW JUN 1 2018 46.0 Calls @ .03 (sold for .50)
Sold EWW JUN 15 2018 45.5 Calls @ .49
#LongCalls #LEAPS – Just a one lot experiment since it’s my first time in this ticker. Reaching negative deltas today so rolling out and up a week. I’ll look to close if it gets to negative deltas a second time. I’d book it for a quick 3 or 4 bucks if possible and wait for another pullback to go a little bigger next time.
Rolled LABU JUN 1 2018 90.0 Call to JUN 8 2018 92.5 Calls @ .15 credit
#LongCalls #LEAPS – It’s days like today where I’m becoming a believer in only selling enough weeklies to rapidly cover the cost of the LEAPS while eliminating upside risk (or most of it). As these weeklies get reset I’m trying to get all my positions setup like this.
Bought to Close FAS JUN 1 2018 67.5 Calls @ .09 (sold for 1.02 full position)
Sold FAS JUN 8 2018 66.0 Calls @ .96 (70 percent)
This position is a 10 lot out to 2020 requiring .42 per week ($420.00). Selling 7 for .96 more than covers that while giving this risk:
Afternoon all Playing a bit of catch up here
on Wednesday#spxcampaign
Last week I mucked up my SPX spread as I was needing to be away and closed the short June 15th 2800 call on the upswing. Originally sold for 2.30 and closed at 2.95. Oops. I resold the position today @ 1.15.
#coveredcall
I was assigned FAS at 68 last Friday and sold June 1st 66 Calls against today for 0.42.
#LEAPS
Covered my long Jan 2020 36 Call with June 1st 38.50 for .20.
#longcalls
I tried to do an early assignment of my measly 1 MU June 15th 50 long call as I wanted to sell most of the stock this morning but keep a few shares for a longer term position. The gods of ToS wouldn’t let me as it was not deemed economically the best thing to do. They suggested I sell the call and buy the stock. I wish their gods would intervene when I place a bad trade. Life would be so much better. Maybe they are right but I was under the impression I could think for myself and do my own trading. So I will wait for assignment and sell most of the stock before earnings. Hopefully it will still be profitable.
Catch everyone tomorrow.
#LongCalls #LEAPS – Second batch closed this expiration. Selling 70 percent of next batch for no upside risk if this thing rebounds…
Bought to Close EWZ JUN 1 2018 38.0 Calls @ .04 (sold for .32)
Sold EWZ JUN 15 2018 37.0 Calls @ .50
#LongCalls #LEAPS – Small debit roll picking up 3.40 of upside…
Rolled OLED JUN 1 2018 99.5 Calls to OLED JUN 29 2018 103.0 Calls @ .10 debit
#LongCalls #LEAPS – Last one…squeezing in one more sale before earnings.
Bought to Close AMBA MAY 25 2018 50.5 Calls @ .08 (sold for .80)
Sold AMBA JUN 1 2018 51.5 Calls @ .91
#LongCalls #LEAPS – The NOC replacement at twice the size…BTW this is Whiz’s favorite and he’s always right! 🙂 🙂
Bought RTN JAN 17 2020 220.0 Calls @ 22.50
Sold RTN JUN 8 2018 217.5 Calls @ 1.25
Payoff by Jan 2019 and Jan 2020 is .66/.25
#LongCalls #LEAPS – Now that RTN has finally joined the weekly world I’m moving over there. It’s a little cheaper so I can do more contracts too. NOC needed a little pullback to get back to the top of the risk profile (max profit) and it got it today.
Sold NOC JAN 17 2020 330.0 Calls
Bought NOC MAY 25 2018 327.5 Calls
All said and done 17 day position booked 3.08 per contract (just a 2 lot here)
#LongCalls #LEAPS – Here’s the 2020 reset…
Bought TQQQ JAN 17 2020 55.0 Calls @ 14.60
Sold TQQQ JUN 1 2018 56.5 Calls @ .80 (sold 8 of 10)
Payoff by Jan 2019 and Jan 2020 is .42/.16 (assuming full sales)
#LongCalls #LEAPS – Still selling less than max to control upside risk but still enough to cover cost by end of year…
Bought to Close EWZ JUN 1 2018 40.5 Calls @ .03 (sold for .40)
sold EWZ JUN 1 2018 38.0 Calls @ .32
#LongCalls #LEAPS – Was a little irritated at this one but the rally helped. Needed 657.75 to get even but didn’t quite make it. Short put was exercised a couple days ago. Sold the stock today for 633.95 with a basis of 657.75. Taking the 23.80 loss and rolling it into a Jan 2020 LEAP position. Only rolling one for one since these are pricey. I might consider adding another one on a big drop.
Once I calculated the final numbers it definitely looks doable and possibly even very profitable…
Bought AZO JAN 17 2020 640.0 Call @ 99.50 (basis 123.30 now)
Sold AZO JUN 1 2018 642.5 Call @ 4.10
Payoff by Jan 2019 and Jan 2020 is 3.61/1.40
#ShortStrangles #LongCalls #LEAPS – A timely pullback today in this thing. Two different trades going and both sets of short calls were DITM. Selloff allowed for much better rolls to get all the positions back in the game.
===================================================
Position 1:
Selling weekly calls against longer term short puts that (used to be) deep in the money. Good chance to roll the weekly calls now.
Rolled ADSK MAY 25 2018 131.0 Calls to JUN 8 2018 133.0 Calls @ .25 credit
===================================================
Position 2:
Long LEAPS against short calls where short calls had gotten absolutely demolished. Using the weakness today to roll up the LEAPS and taking the credit to make a huge roll up of the weeklies.
Rolled ADSK JAN 18 2019 120.0 Calls to JAN 18 2019 130.0 Calls @ 5.90 credit
Rolled ADSK MAY 25 2018 122.0 Calls to JUN 15 2018 130.0 Calls @ 5.66 debit
===================================================
Assuming no more crazy rallies in this thing the weekly calls are now back in play for further selling….
#LongCalls #LEAPS – Rolling out and up. Earnings next week so the premium helps on the roll…
Rolled DG MAY 25 2018 96.0 Calls to JUN 1 2018 101.0 Calls @ .02 debit
@LongCalls #LEAPS – This was a short put repair trade I put on two weeks ago. Rolled those losses into the basis of this trade. Had to roll the short calls twice and they’ve reached zero deltas for a second time already so booking it.
Sold ROKU JAN 17 2020 35.0 Calls
Bought ROKU JUN 1 2018 37.0 Calls
All said and done made back the put losses and another 1.11 per contract on top of that. A nice 10 lot and recovery. Love this ticker….in and out quite a few times this year already. Waiting on the next pullback now.
#LongCalls #LEAPS – Been in this awhile. Got caught in the December whipsaw but finally back where it started. Getting even and getting out is the goal here. Not a fan of GLD with weak premiums. On the bright side it’s out to 2020 so a lot of time…
Bought to Close GLD MAY 25 2018 124.0 Calls @ .05 (sold for .78)
Sold GLD JUN 8 2018 124.5 Calls @ .51 (70 percent size)
#LongCalls #LEAPS – After the split I’m booking my current position and resetting with the new strikes and using more even numbers and sizes. This was nicely profitable so a good time to adjust on the tiny dip right at the open…
Sold to Close TQQQ JAN 17 2020 50.0 Calls (150.0 pre-split)
Bought to Close TQQQ JUN 15 2018 52.0 Calls (156 pre-split)
Pounded down the basis really early in this one including originally buying the call spreads and then closing the short on the big drop.
All said and done a 7.07 gain on the pre-split number. Only a 4 lot but good enough!
#LongCalls #LEAPS – Late fill…
Bought to Close NVDA MAY 25 2018 255.0 Calls @ .10 (sold for 2.59)
Sold NVDA JUN 8 2018 255.0 Calls @ 2.90
#LongCalls #LEAPS – Here’s the 2020 reset. I’d prefer a bigger pullback but not sure when (or if) it will come.
Bought FAS JAN 17 2020 67.0 Calls @ 14.75
Sold FAS JUN 1 2018 67.5 Calls @ 1.02
Payoff by Jan 2019 and Jan 2020 is .42/.16
#LongCalls #LEAPS – Going through all my 2019’s and seeing what’s nicely profitable and looking at closing and resetting to 2020’s. Here’s the first one I came across. Weeklies were ITM and rolled out to July. Taking advantage of the weakness today to take this one off for a nice gain. Even though I’d reduced basis from 10.50 down to 4.50 in just two months I think I’ll feel better starting a new one in 2020. I’m finding the extra time is well worth the little bit extra it costs.
Sold to Close FAS JAN 18 2019 65.0 Calls
Bought to Close FAS JUL 20 2018 68.0 Calls
Net gain of 1.95 on a 10 lot in a couple months. Happily moving on….
#LongCalls #LEAPS – Did manage a few today…
======================================
LUV:
Bought to Close LUV May 25 2018 53.0 Calls @ .05 (sold for .32)
Sold LUV JUN 8 2018 52.0 Calls @ .50
======================================
OLED:
Bought to Close OLED MAY 25 2018 104.0 Calls @ .10 (sold for 1.70)
Sold OLED JUN 1 2018 99.5 Calls @ 1.25
======================================
TLT: #PerpetualRollingStrangles
Bought to Close TLT JUN 1 2018 119.0 Calls @ .24 (sold for .40 double sale so closed early for safety)
======================================
DG:
Added to DG for earnings next week…full position now
Bought DG JAN 18 2019 95.0 Calls @ 8.70
Sold DG JUN 1 2018 101.0 Calls @ .90
======================================
CELG:
Bought to Close CELG MAY 25 2018 86.5 Calls @ .03 (sold for .65)
Sold CELG JUN 1 2018 79.0 Calls @ .72
======================================
#LongCalls #LEAPS – Jumping back in here. Buying 10 but only selling 8 to eliminate upside risk…still plenty of time to get it all back only selling 8 weeklies.
Bought 10 EWZ JAN 17 2020 40.0 Calls @ 5.80
Sold 8 EWZ JUN 1 2018 40.5 Calls @ .40
Payoff by Jan 2019 and Jan 2020 is .16/.06 (selling 10)
Payoff by Jan 2019 and Jan 2020 is .20/.08 (selling 8)
#LongCalls #LEAPS – I’ll jump in this with you guys. Premiums nice and still two weeks to sell before earnings. Different account than my OLED position since they’re in a similar field. As usual going out in time. Half position to start out with…
Bought AMBA JAN 17 2020 50.0 Calls @ 11.00
Sold AMBA MAY 25 2018 50.5 Calls @ .80
Payoff by Jan 2019 and Jan 2020 is .30/.12
#LongCalls #LEAPS – Booking this week. Selling next week aggressively but only covering 60 percent (6 of 10) of the LEAPS. Zero up side risk but still covering min required to cover the LEAPS by end of year.
Bought to Close 10 EWW MAY 25 2018 48.0 Calls @ .05 (sold for .25)
Sold 6 EWW JUN 1 2018 46.0 Calls @ .50
#LongCalls #LEAPS – Rolling to the week before earnings….
Rolled DG MAY 18 2018 95.0 Calls to MAY 25 2018 96.0 Calls @ .28 debit
#LongCalls #LEAPS – Another week…
Bought to Close NOC MAY 18 2018 330.0 Calls @ .20 (sold for 2.30)
Sold NOC MAY 25 2018 327.5 Calls @ 1.80
#LongCalls #LEAPS – Slow day today. I really like the premiums and rollability of this ticker. I’m in a tiny 2019 position so adding a little more out in 2020. I’ll add more when (if) I get the 2019’s covered but for now…
Bought OLED JAN 17 2020 105.0 Calls @ 26.90
Sold OLED MAY 25 2018 104.0 Calls @ 1.70
Payoff by Jan 2019 and Jan 2020 is .74/.30
#LongCalls #LEAPS – Booked this one a little early so I could get the next sale going…
Bought to Close NVDA MAY 18 2018 260.0 Calls @ .34 (sold for 3.57)
Sold NVDA MAY 25 2018 255.0 Calls @ 2.59
#LongCalls #LEAPS – Another week done…
Bought to Close LUV MAY 18 2018 53.5 Calls @ .08 (sold for .60)
Sold LUV MAY 25 2018 53.0 Calls @ .32
#LongCalls #LEAPS – This completes another double dip. NAFTA deadline this week so it could go anywhere…
Bought to Close EWW MAY 18 2018 49.5 Calls @ .03 (sold for .36)
Sold EWW MAY 25 2018 48.0 Calls @ .25
Afternoon all Catching up with positing. #Pietrades, #Leaps,
Bought to close my SQ 54 Put for 0.87. Originally sold for .95 on 5/10. Tried to sell a 53 Put at 0.55 but no dice. Try
again tomorrow. I felt the 54 Put was too high and I wanted a lower strike in case this pulls back more.
Created a covered call on ROKU in a back-ass-ward way. Meant to sell a MU call and had ROKU loaded (Hey they both end in U). So sold ROKU 37 Call @ .68 and followed this by underpinning (Is that the opposite of covering) with stock at 36.39.
Did get the MU May 18th 54.50 call sold for .50.
BTC my ERX May 18th 38 Put @ .30. Originally sold for .88 on 5/09. Will look to reload.
AAOI Sold to open May 18th 31.50 Put @ .50
#Leaps
Sold ERX May 42 Call for .45
Sold QQQ May 18th 172 Call @ .40.
BTC SVXY May 18th 13 Calls @ .46. No premium or clear way to manage this with weeklies.
And that’s all the damage for one day. Have a great evening.
#BearPutSpreads #LEAPS …adding #BullCallSpreads now. Trading both sides with the great premium. Using 2020’s for the call side.
Bought TSLA JAN 17 2020 300.0/400.0 Bull Call Spreads @ 34.00 (2019’s were nearly 30.00 so went 2020)
87 weeks to go so need 39 cents per week or 97 cents to cover max loss with a year to go…if TSLA really tanks I’ll probably book the winner on the short 400s.
So:
Sold TSLA JUN 1 2018 312.5 Calls @ 4.70
#LongCalls #LEAPS – A lot of rolling this morning. Out to July for the ones deep in the money. Others not quite so far. Some small debits but no problem with all the premium received so far. On the bright side most of these are trading above the LEAP strike so most of these calls are similar to trailing stops giving some downside protection. On a big pullback these could easily be rolled back in and down.
CELG: May 18th 85.5 to May 25th 86.5 @ .13 credit (nearing end of life so will roll any time it’s near the money)
FAS: May 18th 64.5 to Jun 15th 66.0 @ even
FAS: May 18th 64.5 to Jul 20th 68.0 @ .02 credit
OLED: May18th 96.0 to Jun 8th 100.0 @ .15 debit
ROKU: May 18th 35.5 to Jun 1st 37.0 @ .06 credit (I’ll look to book it if it reaches zero deltas again)
SMH: May 18th 99.5 to Jul 20th 102.0 @ .13 debit
TNA: May 18th 71.0 to Jul 20th 75.0 @ .28 debit
TQQQ: May 18th 152.0 to Jun 15th 156.0 @ .16 debit
XBI: May 18th 88.0 to Jun 22nd 90.0 @ even
XLY: May 18th 103.5 to Jun 8th 104.5 @ .02 credit
FB: Playing the Jan 2019 calls and puts on this one. Stock has rallied and I’ve sold puts all the way up nearly covering the put LEAPS already. Of course the call side has been struggling. It was 160 long LEAPS against 162.5 short calls next week. I’d like to get the call side back in the game so I’m using my old strategy that worked when AMZN was going crazy to the upside.
Rolling the LEAP calls up for a credit and using that to roll the weekly calls up and out. Basically a wash but gets the short calls into a much more rollable position. Moved the LEAPS up 10 but only got the weeklies up 7.50 since I didn’t want to go out any further and wanted a credit.
Jan 2019 160.0 to Jan 2019 170.0 @ 7.17 credit
Then:
May 25th 162.5 to Jun 15th 170.0 @ 6.65 debit
#LongCalls #LEAPS -Since it’s in an #IRA I’m paying the dime to get the next sale going. Getting the weekend and stock looks a little weak since Rocket Man is now a fine upstanding citizen.
Bought to Close NOC MAY 11 2018 330.0 Calls @ .10 (sold for 2.70)
Sold NOC MAY 18 2018 330.0 Calls @ 2.30
#ShortStrangles #LongCalls #LEAPS – Rolling out to earnings week. This is a small position so after earnings if it keeps going up I may try the old method I used with my AMZN position. I’ll be rolling the core (in this case the LEAPS) up to finance the weekly call roll. Worked for AMZN synthetic and I think it can be even more effective with just plain old long calls since there’s no downside short puts to be concerned with…
Rolled ADSK MAY 11 2018 128.0 Calls to MAY 25 2018 131.0 Calls @ .06 debit
#BearPutSpreads #LEAPS – Still selling against 300/200 Bear Put Spreads. Sold aggressively through earnings and continuing that until it decides where it wants to go. Finally out of these after accumulating premium through a few rolls…
Bought to Close TSLA MAY 11 2018 295.0 Puts @ .10 (sold for 13.15)
Sold TSLA MAY 18 2018 297.5 Puts @ 4.00
#LongCalls #LEAPS – I hate doing it up at these levels but the premium is great. Staying small here and going slightly out of the money. Might book it on a bounce if we get one. Otherwise….sell weeklies aggressively.
Bought NVDA JAN 17 2020 260.0 Calls @ 51.90
88 weeks to run so need 59 cents per week to cover cost…
So:
Sold NVDA MAY 18 2018 260.0 Calls @ 3.57
#LongCalls #LEAPS – After finally having time to sit down and update all my positions I’m switching into a longer term trade on this. LEAPS are reasonably priced given the weekly premium available. I closed the puts at a loss that I sold yesterday (1.00 loss). The LEAP position will be twice the size so will roll a 50 cent loss into that cost.
This is also in a different account from my SMH position to avoid some overlap.
Bought ROKU JAN 17 2020 35.0 Calls @ 10.50 (basis will be 11.00 with loss addition)
88 weeks to run so need 12.5 cents per week to cover cost…
So:
Sold ROKU MAY 18 2018 35.5 Calls @ .75
#Earnings – Not sure what this is called. Skewed iron condor maybe? I’m looking at it like a #JadeLizard with a disaster put. Selling at near the expected move on each side but with no upside risk and a disaster put just in case.
Sold NVDA MAY 11 2018 242.5 Puts and 272.5/275 Bear Call Spreads @ 2.72 (Jade Lizard)
Using some of the extra 22 cents to buy disaster puts 20 points below the sold put. If this stock misses earnings by a mile it could really implode (guessing).
Bought NVDA MAY 11 2018 222.5 Puts @ .17
Net credit of 2.55 with zero upside risk. If it implodes I’ll look to roll the puts or move it all into a #LongCalls #LEAPS type trade.
EDIT: What do I want the stock to do? As little as possible! Just like a strangle…stay between my short strikes…
#LongPuts #LEAPS – Been in this one for awhile and it really never has worked. Little rally today gets it back to close to even so bailing. May look at it again on a spike back to the mid 40’s.
Sold to Close NUGT JAN 18 2019 32.0 Puts
Bought to Close NUGT MAY 18 2018 28.0 Puts
Glad to be done with it. All said and done a loss of 16 cents per contract.
#LongCalls #LEAPS – Another one getting close to fully covered on the max loss but time is dwindling. Getting a bounce here so paying the 2 cents in order to get the next one sold sooner.
Bought to Close CELG MAY 11 2018 89.0/94.0 Bear Call Spreads @ .02 (sold for .56)
Sold CELG MAY 18 2018 85.5/91.5 Bear Call Spreads @ .54
Whipsaw risk is high here and need 25 cents per week out to July expiration to break even. This has been a nearer term position I tried just to see how they trade close to the end. Would love a few more months…
#SyntheticStock #LongCalls #LEAPS – If next week’s 53.5s expire I’ll officially have the core synthetic cost of 5.52 covered. That will leave the max loss of 2.50 to take care of. Since I’m not sitting at max loss yet I’m converting to plain long #LEAPS and saving .65 of recovery that would be required.
Bought to Close LUV JAN 18 2019 60.0/57.5 Bull Put Spreads @ 1.85 (better than 2.50!)
So….the new projections are this on one of my first ones to approach the land of #PureProfit .
Averaging 45 cents per week conservatively the final debit (max loss) will be covered by June monthly expiration. At that point the position will still have 31 weeks to run. From there on, assuming 45 cents per week until the end, the trade should make about 14 dollars. On a 10 lot that’s a pretty good return on something that could possibly end up well below the original starting point. This is the power of basis reduction (I hope!)
🙂 🙂
#LongCalls #LEAPS – Approaching resistance but rolling a little anyway. Correcting my fat finger to get everything back together again.
Rolled 1 PYPL MAY 11 2018 74.0 Call to MAY 25 2018 75.5 Call @ .06 debit
Rolled 9 PYPL MAY 11 2018 74.5 Calls to MAY 25 2018 75.5 Calls @ .43 credit
#LongCalls #LEAPS – It’s still dropping and I’m still selling. Has to bottom eventually. Fairly aggressive roll for additional premium this week.
Rolled REGN MAY 11 2018 300.0 Calls to MAY 11 2018 290.0 Calls @ 1.25 credit (4.65 total on these now)
#BearPutSpreads #LEAPS – Still selling against 300/200 Bear Put Spreads. Sold aggressively through earnings and continuing that until it decides where it wants to go. Rolling up this week trying for a little more premium.
Rolled TSLA MAY 11 2018 285.0 Puts to MAY 11 2018 295.0 Puts @ 1.40 credit (13.15 total on these now)
#LongCalls #LEAPS – Even with my rollout the other day this thing is still approaching negative deltas. (great call by Whiz on the Iran/Trump/oil prices!). With this kind of gain on a 10 lot in a week just gotta book it and wait for a pullback or move on to something else.
Sold to Close ERX JAN 17 2020 36.0 Calls
Bought to Close ERX MAY 25 2018 39.0 Calls
Not much for weekly sales…nearly all directional gains of 1.21 per contract. I’ll say it again…playing just the LEAPS only instead of synthetic is the reason these scalps are possible.
#LongCalls #LEAPS – Following Whiz here…he’s using RTN but I prefer weeklies.
Bought to Open NOC JAN 17 2020 330.0 Calls @ 41.50
Sold NOC MAY 11 2018 330.0 Calls @ 2.70
89 weeks so 47 cents per week required to cover max loss…
Fuzzballl….XLY
@fuzzballl, did you originally hold XLY as a synthetic stock and if so have you converted to #Long Calls #Leaps?
I’m presently holding Jan 2019 101/101/99 and am tempted to convert. Would appreciate your thoughts on this.
#LongCalls #LEAPS – Adding on the weakness. Position size is now 80 percent leaving room for one more add if this thing is headed to the 200ma. Earnings estimated on May 31 so wanting to capture all that when the time comes…
Bought DG JAN 18 2019 95.0 Calls @ 7.60
Sold DG MAY 18 2018 95.0 Calls @ .95
#LongCalls #LEAPS – Now that I’m out of XOM and established in ERX I’m getting rid of some more “single stock” risk. This thing has risen enough now to put me into negative deltas so booking some gains and moving on. Also, this makes room for some possible earnings plays in ROKU and NVDA this week.
Sold to Close SLB JAN 18 2019 67.5 Calls
Bought to Close SLB MAY 18 2018 69.0 Calls
Lots of nice weekly premium sales and when all said and done made .63 per contract.
#LongCalls #LEAPS – This thing is all the way out to 2020 so no need to get too greedy this early. I’m giving it some room until we see what the Donald does this Saturday with the Iran nuke agreement. Can always roll it back in and down…
https://www.reuters.com/article/us-global-oil/oil-surges-to-fresh-highs-on-growing-supply-worries-idUSKBN1I801Z
Rolled ERX MAY 11 2018 37.5 Calls to MAY 25 2018 39.0 Calls @ .15 credit
#LongCalls #LEAPS – Trying to squeeze out another double dip…
Bought to Close EWW MAY 18 2018 52.0 Calls @ .05 (sold for .35)
Sold EWW MAY 18 2018 49.5 Calls @ .36
#Shortcalls Covered #Leaps BTC MU May 11th 49 Call at 0.98 on a breach of 49. Sold Friday for .50. BTC May 11th 37.5 Call at 0.98 on a breach of 37.50. Sold Friday at .50. I will reload later. I’m trying to manage risk. However am I being overly responsive and should relax giving them more room to flop around? Comments welcome.
#LongCalls #LEAPS – Intended to be longer term but can’t give it back when it happens so fast. Only in it a week.
Sold to Close BABA JAN 17 2020 180.0 Calls
Bought to Close BABA MAY 18 2018 190.0 Calls
And had some way OTM long puts for fun….took a penny loss on those.
Sold BABA JAN 17 2020 50.0 Puts @ .29
All said and done it’s a 5.20 gain per contract. I’ll be back in on the next pullback!
QQQ #Leaps Sold May 11th 167 @.55.
FAS #Shortcalls Sold May 11th 66 Call @ .55 Trying to close out the May 4th 64.50 call for .05 Going to try .10 Might get a fill
#LongCalls #LEAPS – This should do it for me today…
Bought to Close CELG MAY 4 2018 89.5 Calls @ .03 (sold for .65)
Sold CELG MAY 11 2018 89.0/94.0 Bear Call Spreads @ .56
#LongCalls #LEAPS – Strong recovery…I may look to book this one as a quickie if the rally continues next week enough to get me to short deltas.
Rolled BABA MAY 4 2018 185.0 Calls to MAY 18 2018 190.0 Calls @ .24 credit
#LongCalls #LEAPS – Didn’t quite get low enough today…
Rolled to next week 67.5 to 68.5 @ .02 credit
#LongCalls #LEAPS – All had aggressive sales for next week. With the rally today I rolled all of them out and up to May 18 for small debits. Brought in great premium so no problem giving a little back.
SMH 98.5 to 99.5 @ .05 debit
TNA 69.5 to 71.0 @ .31 debit
XLY 102.5 to 103.5 @ .28 debit
#LongCalls #LEAPS #tastyworks – In a small account to get used to the platform. BTW…liking it more all the time.
Sold FAS MAY 18 2018 64.0 Calls @ 1.00
And my aggressive roll down into earnings didn’t quite work so giving a small part of the credit back…
Rolled FB May 4th 165.0 calls to Jun 1st 167.5 calls @ .27 debit
Options Bistro 