#LongLEAPS – Just a little starter for fun. Hopefully add a little along the way and maybe sell a little against it. Tough fill so probably overpaid.

Bought to Open TBT JAN 17 2025 30.0 Put @ 7.40


#LongLeaps – Sitting on an underwater stock position. 2025 LEAPS available now so adding and selling weeklies against.

Bought to Open SOXL JAN 17 2025 10.0 Calls @ 8.00
Bought to Open SOXL JAN 17 2025 15.0 Calls @ 6.75

Sold SOXL SEP 23 2022 15.0 Calls @ .17

TQQQ Put Closed / DHI BUCS Closed / TQQQ Calls Rolled / SPX 1 DTE Expire

$TQQQ BTC 9/18 30 put at .15. STO at 2.15 on 5/6. Thank you TQQQ King @jsd501

$DHI STC 8/2155/65 BUCS at 8.60. BTO at 4.64

$TQQQ BTC 1/15/2021 67 calls and STO 1/15/2021 90 calls. Took in16.50 in profit.

#spx1dte #optionsexpiration
$SPX 3145/3165/3310/3330 Sold for 1.05

TQQQ adding

#LongLEAPs BTO $TQQQ Jan 2021 85 calls for 1.90, adding to the 90-strike calls previously purchased.

Panic close

#LongLEAPs Started again: BTO $TQQQ Jan 2021 90 calls for 2.50. Filled instantly.

TQQQ closed

#LongLEAPs Sold to close $TQQQ Jan 2021 90 calls for 4.00. Bought yesterday for 3.65 (avg price). I believe I will get a better entry.

TQQQ starter

#LongLEAPs Bought to open $TQQQ Jan 2021 90 calls for 4.00. Will add as price drops.

TQQQ Closed

$TQQQ STC 1/17/2020 66.67 calls at 19.60. BTO 11/12/2018 at 8.20. This was the position I had been selling calls during the year. 42 rolls in all. The 19.60 price was from a 21.50 stop. Option closed the day at 23.00. I believe I bottom ticked with a little help from Market maker. Now for the Makers Mark

TQQQ Long Leaps Closing Down

$TQQQ BTO 1/17/2020 66.67 calls on 11/12/2018.

Sold calls against and rolled 42 times the last eleven months.
Closed out 60% of position this morning, leaving me with 4 long calls bought at 8.20 and
current price of 11.04. I have stop in at 9.95.

The six closed leaps yielded a 64% gain over the eleven months. 13.32 proceeds per contract versus the 8.20 per contract purchase price.

Thank you @jeffcp66 for the trade and the inspiration to keep rolling. You will forever be given the attribution for this proverb – A Rolling LEAP Can Gather Dough!

TQQQ long LEAPs closed

#LongLEAPs Sold to Close $TQQQ Jan 2020 66.67 long calls for 11.05.

Starting buying on Oct 4th, 2018, LAST year, for average price of 10.12 over 5 accounts.

I reduced cost basis by selling covered calls (and sometimes puts), but I’m behind on bookkeeping so not sure by how much yet. It looks like I reduced it by only a little on some accounts, up to about a half on others. I’ve decided to close now as I do not trust the market for remainder of year. I do think higher is certainly possible, but that we could also see a pullback soon that would not regain current levels until after expiration.

Calls closed

#LongLEAPs #SyntheticCoveredCalls Both sets sold yesterday breached. Waiting before I roll.

BTC $TQQQ June 14th 52 calls for 1.90. Sold for 1.15 yesterday.
BTC $SQ June 14th 64 calls for 1.92. Sold for .97 yesterday.

Long Leaps still kicking

#LongLEAPs #SyntheticCoveredCalls Still holding long leaps, both underwater but cost basis now about zero after all these calls I have sold. I also ended up long some TQQQ stock at 58.00, which I will hold for the eventual recovery.

Sold $TQQQ June 14th 52 calls for 1.15.
Sold $SQ June 14th 64 calls for .97

TQQQ calls

#SyntheticCoveredCalls #LongLEAPs I’m still at it, selling weekly calls against my Jan 2020 66.67 long calls. I have been underwater and ITM on them for a few weeks, but the pullback allowed me to escape. I mistakenly forgot to close some ITM calls expiring Friday, so Monday’s gap down was super fortunate and allowed me to finally get above water.

Monday: Sold $TQQQ May 17th 68.5 calls for 1.26 (and covered short stock assigned Friday)
Today: Sold TQQQ May 24th 67.5 calls for 1.23

SQ cals

#LongLEAPs #SyntheticCoveredCalls Sold $SQ Apr 12th 78.5 calls for 1.05

SQ calls closed

#LongLEAPs #SyntheticCoveredCalls BTC $SQ Mar 29th 79.5 calls for .05. Sold for .95 last Tuesday.

SQ calls

#LongLEAPs #SyntheticCoveredCalls Sold $SQ Mar 29th 79.5 calls for .95

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls Sold $TQQQ Apr 5th 54 calls for 3.40

Long LEAPs calls

#LongLEAPs #SyntheticCoveredCalls
this week I got out of one with profit and stopped on the other.

BTC $SQ March 15th 79 calls for .10 on Thursday. Sold for 1.00 last week.
BTC $TQQQ March 22nd 52 calls for 3.30 on Wednesday. Sold for 1.25 on Monday. Not filled on roll attempt today so will try again on Monday.

Rolling ETSY TQQQ / Expired 1 DTE

$ETSY BTC 3/15 65 call and STO 4/18 70 call. Total credit received so far 1.05. Basis 50.25

$TQQQ BTC 3/15 53 call and STO 3/22 53 for additional .65 credit

$SPX 2730/2760/2824/2845 STO at .80

Rolled Up and Out TQQQ / Covered Call BEAT FB / SPX IC / Close Early EA

$TQQQ Rolled out and up BTC 3/15 52 call and STO 4/18 55 call for additional .70 credit

$BEAT STO 3/15 70 call at .70
$FB STO 3/15 177.50 call at .54

Following @jeffcp66
$SPX STO 3/22 2710/2685/2820/2845 at 6.40

$EA BTC 3/15 75/85 BUPS at .50 STO on 3/15 for 1.64

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls Sold $TQQQ March 22nd 52 calls for 1.25 (earlier)

TQQQ calls closed

#LongLEAPs #SyntheticCoveredCalls BTC $TQQQ March 8th 50 calls for .78. Sold for 2.15 on Feb 22nd.

CRM and SQ

#Earnings Bought to close $CRM March 8th 150/152.5/175/177.5 condors for .23. Sold for 1.15 yesterday.

#LongLEAPs #SyntheticCoveredCalls Sold to Open $SQ Mar 15th 79 calls for 1.00

SQ calls, earnings

#Earnings #LongLEAPs #SyntheticCoveredCalls
Sold $SQ March 1st 85 calls for 1.08. Against my 2020 110 long call LEAPs.

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls
Sold to Open $TQQQ March 8th 50 calls for 2.15. Replacing the ones I closed yesterday.

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls
Bought to close $TQQQ Feb 22nd 48 calls for 1.70. Sold for 2.20 on Feb 12th. Will sell more tomorrow.

SQ calls closed

#LongLEAPs #SyntheticCoveredCalls Bougt to close $SQ Feb 22nd 77 calls for .50. Sold for 2.05 last Wednesday

SQ calls

#LongLEAPs #SyntheticCoveredCalls
Sold $SQ Feb 22nd 77 calls for 2.05. Earnings are the following week.

Rolling TQQQ and NFLX

#longleaps #syntheticcoveredcalls
$TQQQ BTC 2/15 48.5 calls and STO 3/1 50 calls for additional .30 credit. Seemed to be rolling a lot more than I thought. Good exercise I suppose.

$NFLX BTC 2/15 350 calls and STO 2/22 362.50 calls for 4.60 debit. But would gain 12.50 if called away.
$NFLX looked strong today. Stock at 359.97.

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls
Still licking the wounds of last few weeks of calls being blown through.
Sold $TQQQ Feb 22nd 48 calls for 2.20

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls
Filled on the Fed spike: Sold $TQQQ Feb 15th 44 calls for 2.45

SQ rip

#LongLEAPs #SyntheticCoveredCalls

I played this one badly this week. I had rolled last week to ITM Feb 1st 67 calls. I had the chance Tuesday to close for a profit with the pull back all the way down below 68. But I foolishly went by sentiment rather than reality: I thought weakness would continue through the week. That’s what I “thought”. In reality, it was simply a must-exit opportunity. Sold the calls for 5.75… could have exited for less than 3.00.

Now, they’re going for 10.50 as SQ resumes its strong rally.

Lesson learned. When ITM on calls, take any opportunity to exit. Don’t wait for a .30 exit.

Hello VXXB

#VXXGame #LongLEAPs
Bought to open $VXXB Jan 2020 20 puts for 1.75.
A starter position for a 12-month trade. My bigger target will be the 2021 LEAPs, which are still pretty expensive, but should lower in value by late summer, provided we don’t enter a bear market. I may also look at ATM puts and sell puts against them, but this OTM position is meant to be a cheaper play that stands alone without cost reduction.

Call rolls

#LongLEAPs #SyntheticCoveredCalls
Rolled $SQ Jan 18th 66 calls to Feb 1st 67 calls for .25 credit.
Rolled $TQQQ Jan 18th 42.5 calls to Feb 1st 43.5 calls for .25 credit.

Looks like I picked the wrong year to…

#VXXGame #LongLEAPs Over the years I put a lot of research into the idea of buying long $VXX LEAP puts, since the symbol is dragged toward zero over time. I built an extensive spreadsheet showing how this strategy would have worked with every VIX leap expiration since 2006 except Jan 2009, during the financial crisis. (VXX was created in 2009, but there are models available of how it would have performed going back to 2004).

Other than Jan 2009, the 18-month to 24-month decline in $VXX is usually 60-90%; even as much as 97% down over 24 months.

So when I started buying the Jan 2019 VXX 20 puts on September 5th, 2017, the odds looked pretty good for a decent profit. I started scaling in and ended up with a total of 32 puts over multiple accounts, average price 1.603. I also sold some 50/60 call spreads against it, lowering that cost basis down to about 1.20.

But, guess what? Picked the wrong year! This is the first LEAP expiration since 2009 where this strategy did not work. And now $VXX is going away at the end of this month, replaced by $VXXB, which doesn’t have much volume yet. However, they HAVE finally added LEAPs, so I’ll be looking to start buying.

Also, because of the product termination, I closed my final short shares in $VXX today for 37.25. I was assigned 100 shares short for 27.00, and had managed to scale out of 30 of them when we dipped below 27.00 in September. Then, October happened.

TQQQ calls sold

#LongLEAPs #SyntheticCoveredCalls

Sold $TQQQ Jan 11th 42.5 calls for 1.45. A roll from this week’s calls that were stopped out.

SQ calls sold

#LongLEAPs #SyntheticCoveredCalls

Sold to Open $SQ Jan 18th 66 calls for 1.35. Replace the Jan 4th calls I stopped out of yesterday.

Calls stopped

#LongLEAPs #SyntheticCoveredCalls First time I’ve had to do this in weeks. Both strikes breached so I exited on pull back and will wait for spikes higher to roll.

BTC $SQ Jan 11th 61 calls for 1.65. Sold for 1.20 on Friday.
BTC $TQQQ Jan 11th 40 calls for 1.30. Sold for .85 on Friday.

Calling again

#LongLEAPs #SyntheticCoveredCalls
Sold $TQQQ Jan 11th 40 calls for .85
Sold $SQ Jan 11th 61 calls for 1.20.

Calls closed (again)

If I was only selling calls and didn’t have #LongLEAPs, this would be a brilliant strategy!

BTC $TQQQ Jan 4th 39.5 calls for .05. Sold for .74 on Friday.
BTC $SQ Jan 4th 59 calls for .05. Sold for .79 on Friday.

Calls sold

#LongLEAPs #SyntheticCoveredCalls
Sold $TQQQ Jan 4th 59 calls for .79
Sold $SQ Jan 4th 39.5 calls for .74

SQ closed

#LongLEAPs #SyntheticCoveredCalls
BTC $SQ Dec 28th 58 calls for .07. Sold for .75 on Friday.

TQQQ calls covered

#LongLEAPs #SyntheticCoveredCalls
BTC $TQQQ Dec 28th 39 calls for .10. Sold for .85 on Friday.

Covered Calls

#LongLEAPs #SyntheticCoveredCalls These would have been better yesterday, but couldn’t catch it.

Sold $SQ Dec 28th 58 calls for .75
Sold $TQQQ Dec 28th 39 calls for .85

It will be hilarious if I just sold at the bottom! Oh, how we will laugh.

Covered Calls closed

#LongLEAPs #SyntheticCoveredCalls
BTC $TQQQ Dec 21st 49 calls for .10. Sold for .90 on Thursday.
BTC $SQ Dec 21st 66 calls for .10. Sold for .84 on Thursday

Calls sold

#LongLEAPs #SyntheticCoveredCalls
Sold $TQQQ Dec 21st 49 calls for .90
Sold $SQ Dec 21st 66 calls for .84

Calls closed

#LongLEAPs #SyntheticCoveredCalls
Closed $SQ Dec 14th 66 calls for .37. Sold yesterday for .72.
Closed $TQQQ Dec 14th 47 calls for .85. Sold yesterday for .80.

Slight profit and about breakeven on what I sold yesterday, since both very close to being breached this morning. Will replace on next big move.

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls
Sold $TQQQ Dec 14th 47 calls for .80

SQ calls

#LongLEAPs #SyntheticCoveredCalls
Sold $SQ Dec 14th 66 calls for .72.

TQQQ calls closed

#LongLEAPs #SyntheticCoveredCalls Since these started the day ITM, taking profits now as this may be a sustained bounce.

BTC $TQQQ Dec 7th 51.5 calls for .55. Sold last week for 1.25.

SQ calls closed

#LongLEAPs #SyntheticCoveredCalls BTC $SQ Dec 7th 67 calls for 1.00. Sold in a roll for 3.10 last week. Stock now at 65.00 after topping out at 73.00 yesterday.

SQ calls rolled

#LongLEAPs #SyntheticCoveredCalls Rolled $SQ Nov 30th 66 calls to Dec 7th 67 calls for .10 credit

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls Sold $TQQQ Dec 7th 51.5 calls for 1.25.

SQ calls

#LongLEAPs #SyntheticCoveredCalls
Sold $SQ Nov 30th 66 calls for 1.15

TQQQ calls closed

#LongLEAPs #SyntheticCoveredCalls

BTC $TQQQ Nov 23rd 50 calls for .15. Sold Thursday for 1.15.

SQ calls closed

#LongLEAPs #SyntheticCoveredCalls
BTC $SQ Nov 23rd 74 calls for .12. Sold Thursday for 1.16.
Since I’m long LEAPs I kind of wish these calls didn’t devalue so quickly.

Covered Calls

#SyntheticCoveredCalls Selling calls against #LongLEAPs
Sold $TQQQ Nov 23rd 50 calls for 1.15
Sold $SQ Nov 23rd 74 calls for 1.16

TQQQ calls

#SyntheticCoveredCalls #LongLEAPs
BTC $TQQQ Nov 16th 59 calls for .15. Sold for 1.25 last Wednesday

TQQQ covered calls

#LongLEAPs #SyntheticCoveredCalls
Sold to Open $TQQQ Nov 16th 59 calls for 1.25.

Adding to TQQQ

#LongLEAPs Bought $TQQQ Jan 2020 66.67 calls for 8.15. Adding to my position. Avg cost (not including #SyntheticCoveredCalls) now 10.12. Hard to believe I paid 17.60 for the first one.

Also, BTC $TQQQ Nov 9th 56 calls for .35. Sold for 1.30 last Wednesday.

Now that I have a full position the call selling will continue to bring down cost basis. I won’t necessarily be holding this very long… I may close it if we reach new highs at the end of this year. I’m not so optimistic about the bull market lasting through 2019.

TQQQ calls

#SyntheticCoveredCalls BTC $TQQQ Nov 2 58 calls for .12. Sold for 1.20 on Thursday. Looks like I’ll be adding to my #LongLEAPs this week.

LEAP covered calls

#LongLEAPs #SyntheticCoveredCalls
Sold $TQQQ Nov 2nd 58 calls for 1.20.
Sold $SQ Nov 2nd 77 calls for 1.20.

TQQQ calls

#LongLEAPs #SyntheticCoveredCalls
Closed on GTC order: $TQQQ Oct 26th 60 calls for .15. Sold for 1.40 on Friday. Will wait for at least a small rally before selling more.

Puts and Calls

#ShortPuts #ContangoETFs Sold $SOXL Feb 75 put for 7.00. This one is getting a little nerve wracking, breaking 100 today. I have 3 shorts; won’t be selling new ones, and rolling any that get breached.

#longleaps, #syntheticcoveredcalls

TQQQ synthetic

#SyntheticCoveredCalls Sold $TQQQ Oct 26th 60 calls for 1.40. Against my 2020 66.67 #LongLEAPs

SQ synthetic

#SyntheticCoveredCalls Sold $SQ Oct 26th 80 calls for 1.25. Good premium for only one week out. It topped out at 80 last week. These are against my 2020 #LongLEAPs.

PYPL synthetic

#SyntheticCoveredCalls Sold to Open $PYPL Nov 2nd 88 calls for 1.20.
These aren’t really that covered, as I have the Jan 2019 100-strike #LongLEAPs, which are trading for about 1.00.
Also looking to sell calls in $SQ, where premium is much higher than PYPL, so I’m waiting to see if it tops out.

This one goes to eleven

#LongLEAPs Bought $TQQQ Jan 2020 66.67 call for 11.00, adding to my position. I forgot to sell short-term calls on Tuesday’s rally, but that’s the plan!

Getting SQ

#LongLEAPs #LongCalls
Bought to open $SQ Jan 2020 110 calls for 7.90, adding to the position I started yesterday.
Will wait to sell short term calls on rallies.

SQ long

#LongLEAPs I sold my stock and Jan 2019 60 calls on the 5th, when $SQ was at 94.50. Man, what a drop! Now looking to leg in long again.

Bought to Open $SQ Jan 2020 110 call for 7.40.
Sold $SQ Oct 26th 80 call for 1.50.

I play this one a bit differently than @fuzzballl, going fairly far OTM rather than ATM. SQ topped out at 101.15 on Oct 1st, and this LEAP was going for 19.00 and higher.

Adding to TQQQ

#LongLEAPs Bought $TQQQ Jan 2020 66.67 call for 12.60, adding to my first one I bought for 17.60 last Thursday.


Joining the TQQQ Queue

#SyntheticCoveredCalls #LongLEAPs
Bought $TQQQ Jan 2020 66.67 call for 17.60. Plan to sell calls against it.

TQQQ Leap call sold

#LongLEAPs Sold $TQQQ Jan 2020 83.33 call for 6.30.

Today, as $QQQ just notched an all time closing high, you can see the TQQQ is about 5% below its highs. This is due to the compounding effects of a 3x leveraged product. The same force that drags NUGT, DUST, GUSH, DRIP, and others downward will drag on TQQQ. Because we’re in a long-term bull market, it is harder to see this force in the chart, but today’s high gives you a good snapshot when comparing to QQQ. Thus, I like selling farther out 83.33 call against my long 2020 50 calls. I just sold 1 today (against the 3 longs) and can add more at better prices or different strikes. I am ALSO still selling short term calls, so this will throw my deltas out of whack, but I’m really looking at each of the short calls separately and less at the full picture. Upside risk on a ContangoETF is not difficult to manage.

TQQQ trades

#LongLEAPs #SyntheticCoveredCalls
Closed $TQQQ June 1st 140 put for .35. Sold in 140/170 #StrangleRoll for 5.00 on May 9th.

TQQQ & SQ rolls

#LongLEAPs Closed $TQQQ June 1st 170 #SyntheticCoveredCall for 6.00. Sold in a #StrangleRoll on May 9th.
Sold $TQQQ June 8th 157.5/177.5 strangle for 6.30.

Closed $SQ June 8th 56 call for 1.60. Sold for 1.88 last Thursday. Will wait to roll on the next move up.