#LongPuts #LEAPS – Had been selling these aggressively above the 50 strike LEAPS. Rolling out and down now to get back more in alignment. Short calls working great…
Rolled UVXY NOV 9 2018 56.0 Puts to NOV 30 2018 50.0 Puts @ .10 credit
Tag Archives: LongPuts
UVXY
#LongPuts #LEAPS #ShortCalls – Giving it some incentive to stay up as long as possible. These premiums are awesome…
Sold UVXY DEC 7 2018 70.0 Call @ 4.10
UNG
#LongPuts #LEAPS – I’ll take a shot with a half size starter. Longer term bearish mainly due to contango and global warming 🙂 . Going out to 2020 since option prices aren’t that much more to get an extra nine months. I’ll sell aggressively in the beginning and then hopefully be able to get out of the way later on. Planning on selling about every 30 days so still only need 23 cents in each sale.
Bought to Open UNG JAN 17 2020 28.0 Puts @ 3.55
Sold UNG NOV 30 2018 27.5 Puts @ .71
UVXY
#earnings #shortstraddle #longputs TEVA DENN…
#earnings #shortstraddle #longputs TEVA DENN
TEVA Sold Nov. 16, 20 straddle for 2.55
DENN bought Nov. 16, 17.50 put for .55
Had to hit the road, no fill on W, trading from I80 tomorrow maybe.
UVXY
UVXY
UVXY
#LongPuts #LEAPS – Giving this it’s own post since I’m so excited about the potential of this trade. Of course that worries me… 🙂 🙂 In two accounts now…
Added:
Bought to Open UVXY JAN 15 2021 50.0 Puts @ 27.00
Sold UVXY NOV 16 2018 52.0 Puts @ 1.40
This week’s put sales look safe so double selling for next week:
Sold UVXY NOV 9 2018 56.0 Puts @ 1.20
EWZ RTN TLT TQQQ
#LongCalls #LongPuts #LEAPS – Summary of a busy morning. Leaving before the close so getting done early.
EWZ: Trying to get my .36 loss back from the closed position yesterday. Stand alone trade out of spite…LOL
Sold EWZ NOV 16 2018 37.0/35.0 Bull Put Spreads @ .26
RTN: Bunch of call spreads nearly worthless so adding another. Just going for slightly more than required breakeven.
Sold RTN NOV 16 2018 185.0/195.0 Bear Call Spreads @ .32
TLT: Adding to the #PerpetualRollingStrangles position. Stop set on last batch.
Sold TLT NOV 23 2018 117.0 Calls @ .34
TQQQ:
Sold TQQQ NOV 16 2018 55.0/60.0 Bear Call Spreads @ .77 credit
AMAT AMBA EWW EWZ LABU PYPL UVXY
#LongCalls #LongPuts #LEAPS – Was out most of the day but did get in just in time to get a few sales off. Morning would’ve been better but the volatility is helping premium across the board so still sold a little. Biggest change is closing a couple of the long term positions that were near breakeven (AMBA and EWZ) and moving some of that cash to UVXY and possibly adding to TNA and TQQQ.
AMAT: Waiting for earnings date confirmation before selling anymore.
Bought to Close AMAT NOV 2 2018 36.0 Calls @ .02 (sold for .38)
AMBA: Closed for small loss. Happy with it since stock moved against me from day one. Another 2020 position closed and looking to add to some 2021’s that are beaten down.
Bought to Close AMBA NOV 2 2018 38.0 Calls
Bought to Close AMBA NOV 9 2018 36.0 Calls
Sold to Close AMBA JAN 17 2020 50.0 Calls
Net loss of .21 on a 10 lot…
EWW: Overlapping sales since this week’s 48’s look safe.
Sold EWW NOV 16 2018 45.0 Calls @ .41
EWZ: Closing it on the bounce to free up cash to add to UVXY. Small loss but a successful long term repair trade.
Bought to Close EWZ NOV 9 2018 35.5 Calls (ratio’d)
Sold to Close EWZ JAN 15 2021 40.0 Calls
Net loss of .36 on a 10 lot…
LABU: Selling spreads very cautiously down here. Short next week’s 70/80 also.
Sold LABU NOV 16 2018 65.0/75.0 Bear Call Spreads @ .50
PYPL:
Bought to Close PYPL NOV 2 2018 89.0 Calls @ .05 (sold for .60)
Sold PYPL NOV 9 2018 86.0 Calls @ .54
UVXY: Added to the long LEAP puts and sold puts against them. Still short a few calls as well.
Bought to Open UVXY JAN 15 2021 50.0 Puts @ 26.75
Sold UVXY NOV 9 2018 56.0 Puts @ 1.25
UVXY
#LongPuts #LEAPS – Selling calls and puts against a long put LEAP position. Selling less calls and scattering them out for extra safety. Rolling this week’s and holding short 70 strike the next two weeks. Will continue pounding the weekly put sales as long as I can.
Rolled UVXY OCT 26 2018 60.0 Call to NOV 23 2018 75.0 Call @ .57 credit (2.57 total credit now)
UVXY
#LongPuts #IRA – Playing it in two different accounts. One more conservative since it’s an IRA that doesn’t allow naked call selling. Might sprinkle a few call spreads in but mostly just selling the puts. The other account allows naked call selling so I’ll be selling the puts more aggressively against those.
Sold UVXY NOV 16 2018 51.0 Puts @ 2.31
Sold UVXY NOV 2 2018 56.0 Puts @ 1.85
Hello Mr. UVXY…Didn’t recognize you. Have you lost weight?
#LongPuts #LEAPS – First of all let me apologize for the length. Feel free to skip it or skim it over the weekend or tell me I’m crazy…LOL
It’s been a crazy month so far but it has given us a great opportunity to observe the “new” UVXY and how it reacts during market turmoil. The timing has been great since it had it’s most recent split just two weeks before the craziness began. I don’t have any data to back this up but just going by feel and how it’s suppose to trade now it does seem that it’s moves haven’t been as violent as they were previously so the adjustment appears to be working. No guarantees of course. It could be trading at 150 before things calm down but it does seem unlikely.
After the spike of the summer of 2015 I have been almost exclusively shorting it by selling call spreads on spikes or splits. It’s worked but they are slow to profit since they are so far out in time and don’t decay quite as fast since they are sold closer to the money. It works but it requires the risk to be on the table for a long time tying up buying power.
With the “new and improved” UVXY I think there’s a better way. I am switching all of my short UVXY positions to the #LongPuts #LEAPS strategy. With UVXY being toned down a little we will still get the inevitable downward trend but possibly not quite as fast as before. This should allow more time to sell weekly positions against the long puts for basis reduction. With less violent spikes and slower decay the sales should be possible on both calls and puts.
With all that said, let’s look at some real world numbers. I’ll use my original position as an example.
When UVXY made it’s initial run into the 50’s I bought Jan 2021 50 strike puts. This was just 9 days ago and I paid 29.60 for them. Let’s round that to 30 for simplicity.
I feel it’s safe to assume that by Jan 2021 UVXY will be somewhere near a split adjusted price of 5 dollars. That’s a 45 dollar drop so with the 30 dollar purchase price of the puts there should be a 15 dollar gain there if nothing more is done but sit and wait.
Now let’s add the possibilities of some weekly sales. In 9 days I’ve already brought in 6 dollars of weekly sales using puts and calls. That will go straight to the bottom line of the 2021 position. Of course that type of premium won’t always be available. Some rolling will be required or sometimes the call sale risk will be too high during low volatility.
Let’s assume very conservatively that over the course of the trade an average of 50 cents per week per side can be brought in. That’s a dollar per week for 116 weeks. 116 dollars plus the 15 dollar gain on the put purchase could turn this into about a 130 dollar gain on each contract.
The beautiful thing about it is the only big chunk of buying power being used is the original cost of the long puts but a good part of that can be made up early in the trade before UVXY drops much. Premium available for weekly sales is pretty nice until UVXY falls into the low teens and it begins drying up.
I tried a strategy similar to this on the split before this most recent one. It turned out to be nicely profitable and I was only selling the put side against the position…and UVXY dropped so quickly I didn’t get too many of those sold. With a toned down product now I’m thinking this will work much better this time around. We’ll see!
So today I closed all of my pre-split call spreads at overall profits. This takes a lot of risk off the table and frees up buying power for the new UVXY strategy. I’m still holding a few post split spreads but looking to get out of those at close to even eventually.
Bought to Close UVXY2 DEC 21 2018 15.0/25.0 Bear Call Spreads @ .99 (sold for .84) loss
Bought to Close UVXY2 DEC 21 2018 20.0/30.0 Bear Call Spreads @ .55 (sold for .86) gain
Bought to Close UVXY2 DEC 21 2018 20.0/30.0 Bear Call Spreads @ .52 (sold for .85) gain
Bought to Close UVXY2 JAN 18 2019 12.0/17.0 Bear Call Spreads @ 1.10 (sold for 1.15) gain
Bought to Close UVXY2 JAN 18 2019 15.0/25.0 Bear Call Spreads @ 1.16 (sold for .99) loss
Bought to Close UVXY2 JAN 18 2019 20.0/30.0 Bear Call Spreads @ .65 (sold for .91) gain
UVXY
UVXY
#LongPuts #LEAPS #ShortCalls – Setting up for next week. Selling weekly strangles against my long LEAP puts. Less calls than puts for safety.
Sold UVXY NOV 2 2018 70.0 Call @ 2.35
UVXY
#LongPuts #LEAPS #ShortCalls – Selling the crap out of this before it eventually implodes. Selling weekly strangles against my long LEAP puts.
Bought to Close UVXY OCT 19 2018 50.0 Puts @ .05 (sold for 2.35)
Sold UVXY OCT 26 2018 51.0 Puts @ 2.10
UVXY
#LongPuts #LEAPS – Selling shorter term calls against shorter term puts which were sold against long LEAP puts….whew! Since I’d like to see UVXY hold it’s head up as long as possible (is a year too much to ask? 🙂 ) I’ll be selling against recent highs.
Sold UVXY OCT 26 2018 60.0 Call @ 2.00
Sold UVXY NOV 16 2018 70.0 Call @ 3.40
Ticks nix my VIX pick
#LongPuts I still got two weeks left on my long $VIX Oct 30th 16 puts. But market isn’t cooperating yet, so I want to add to the probability that I’ll catch the drop.
Bought to Open $VIX Nov 20th 16 puts for 1.10.
UVXY
DUST
AMAT DG DUST OLED PYPL SMH TLT UVXY
#LongCalls #LongPuts #LEAPS #VXXGame – In and out all day but manged to squeeze in a few trades….
AMAT: Added last of the long LEAPS reducing basis.
Bought to Close AMAT OCT 26 2018 41.0 Calls @ .02 (sold for .43)
Bought AMAT JAN 17 2020 50.0 Calls @ 1.15
DG:
Bought to Close DG OCT 19 2018 112.0 Calls @ .05 (sold for .65)
Sold DG NOV 2 2018 108.0 Calls @ .85
DUST: Nice drop today. Luckily ratio’d at 2×7. Rolling the short puts down and out. Long puts working nicely.
Rolled DUST OCT 12 2018 37.0 Put to DUST NOV 16 2018 35.0 Put @ even
OLED:
Sold OLED OCT 26 2018 120.0 Call @ 1.20
PYPL:
Sold PYPL OCT 26 2018 82.0 Calls @ .94
SMH:
Bought to Close SMH OCT 26 2018 108.0 Calls @ .06 (sold for .95)
TLT: Getting out of the way a little with my triple size position. One winner one loser with a net winner.
Bought to Close TLT NOV 2 2018 118.0 Calls @ .15 (sold for .44) .29 gain
Bought to Close TLT NOV 9 2018 116.5 Calls @ .64(sold for .47) .17 loss
UVXY: Haven’t sold these naked very often since Aug 2015 🙂 Sometimes it’s too good to pass up.
Sold UVXY DEC 21 2018 95.0 Call @ 8.25
#longputs MCD STC Oct 19…
#longputs
MCD STC Oct 19 167.50 for 3.20 bot yesterday for 1.00 maybe too early but concerned with theta decay and no further movement.
AAOI
#ShortPuts #LongPuts #ShortCalls – Yes I am still in this. Short DITM puts out in Jan 2020. In the meantime trading around it. On the last spike bought a double size batch of disaster puts where the overall position would actually make more if the stock went to zero. With the stock making a big beautiful double bottom today I’m taking some nice gains on the long puts.
Sold to Close 10 AAOI JAN 17 2020 22.5 Puts @ 5.35 (bought for 2.35)
Taking some of those profits and buying shorter term disaster puts to get through next earnings and a possible confirmation of today’s bounce. I’ll decide what to do with these after earnings. Hopefully the stock will bounce and I can close these new ones for the residual value and maybe reload on the next top.
Bought to Open 10 AAOI JAN 18 2019 20.0 Puts @ 1.35
Pocketing the 1.65 gain for now which equates to a 3.30 basis improvement on the DITM puts.
Whew!
TBT 2x or 3x?
DUST
DUST
DUST
DUST
DUST EWZ LABU
#LongCalls #LongPuts #LEAPS – Slow day today….replacing some expiring positions and adding to positions.
DUST:
Bought DUST JAN 17 2020 40.0 Put @ 13.59 (adding one)
Sold DUST SEP 21 2018 40.0 Put @ 1.10
EWZ:
Sold EWZ SEP 28 2018 35.0 Calls @ .46
LABU:
Bought LABU JAN 17 2020 110.0 Call @ 19.80 (adding one)
Sold LABU SEP 14 2018 98.0 Calls @ 1.75
DUST SMH
#LongCalls #LongPuts #LEAPS – September is going to be crazy at work so might not be in here as much. Did get a few trades in on Friday and just now getting around to the bookkeeping.
DUST:
Bought to Close DUST Aug 31 2018 38.5 Puts @ .05 (sold for 1.60)
Sold DUST Sep 14 2018 36.0 Puts @ .87
SMH:
Rolled SMH Aug 31 2018 104.5 Calls to Sep 14 2018 105.0 Calls @ .02 credit
DUST
DUST
NVDA Closed Early / Short Calls WSM / Long Calls ANET
#shortputs
$NVDA BTC 9/21 225/230 BUPS at .15 STO at 1.48 on 7/31
#longputs
$WSM STO 9/21 67.50/62.50 BECS at 3.42 Don’t think earnings price spike will last. What do I know?
#longcalls
$ANET BTO 9/21 270/300 BUCS at 11.60 Lucked out. They are being added to S&P 500
DUST
#LongPuts #LEAPS – I tried this with NUGT a long time ago and it didn’t work since I didn’t ratio the position. NUGT was pushing 60 at the time…right idea and wrong execution. I’ll try not to make that mistake here. Sticking with a 3×2 from the beginning since this thing can implode quickly.
Bought to Open DUST JAN 17 2020 40.0 Puts @ 14.50
Sold DUST AUG 24 2018 40.0 Puts @ 1.64
GLD
TSLA
#LongCalls #LongPuts #LEAPS – It was an interesting experiment trading both sides. I think it could’ve worked but with all the crazy stuff going on I’m completely out. Taking a loss but luckily had captured a bunch of premium already. Normally I would stick it out and try to get to even but this is one of those cases where I think putting the cash to work elsewhere is the best for me.
Seems like I have one clunker every year…CMG in 2016 and REGN in 2017. One big loss that’s only partially offset by other winners within the ticker. Same here…loss that wipes out my TSLA 2018 gains plus a little more. But, that’s why you stay small in these types of positions.
Closed my put side yesterday with the final numbers being a 5.27 loss on a 2 lot.
Closed my call side today with the final numbers being an 18.30 loss on a 2 lot.
The cash will be deployed elsewhere and I’ll get that back…LOL Might even sell some TSLA spreads. BTW…I still like the cars and love the Space X program. Not particularly a fan of the Muskie though!
TSLA
#LongCalls #LongPuts #LEAPS – Trading both sides. Not willing to risk Muskie actually being serious about the buyout. Calls were already ITM so rolling them out and above my long 2020’s until things calm down.
Rolled TSLA AUG 31 2018 292.5 Calls to JAN 17 2020 360.0 Calls @ 4.24 debit
These had 32.56 of credit in them already so that reduces to 28.32. Had already reduced the basis in the long calls by quite a bit. A quick look at the numbers shows:
Long 2020 350/360 BeCS @ 23.30
If the buyout were to actually happen it would be a 13.30 loser but that’s better than without the roll. I’ll continue selling the put side for now.
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Still playing both sides. Rolled the calls and booked the puts and sold new puts.
Rolled TSLA AUG 3 2018 290.0 Calls to AUG 31 2018 292.5 Calls @ .46 credit
Bought to Close TSLA AUG 3 2018 352.5 Puts @ 4.45 (sold for 13.15)
Sold TSLA AUG 10 2018 350.0 Puts @ 9.60
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – It’s gonna be another crazy trip on Mr. Toad’s Wild Ride next week with earnings. I rolled these calls down a couple times this week collecting more premium but they didn’t quite get taken out. I’m rolling straight out for next week to give my ITM short puts some protection.
Rolled TSLA JUL 27 2018 290.0 Calls to AUG 3 2018 290.0 Calls @ 10.10 credit (32.10 total now)
Not bad when figuring the 2020 LEAP calls only cost 69.45 and basis already reduced to 51.61…
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Another fill on Friday while I was out….a call side roll still prior to earnings…
Rolled TSLA Jul 20 2018 315.0 Calls to Jul 27 2018 315.0 Calls @ 6.15 credit (11.80 total now)
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Re-loading the call side…
Bought to Close TSLA JUL 13 2018 320.0 Calls @ .12 and .14 (sold for 4.21)
Sold TSLA JUL 20 2018 315.0 Calls @ 5.65 and 5.39
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Re-loading the call side…
Bought to Close TSLA JUL 6 2018 320.0 Calls @ .10 (sold for 5.00)
Sold TSLA JUL 13 2018 320.0 Calls @ 4.21
FB
#LongPuts #LongCalls #LongLEAPStraddles – Had been playing this one from both sides. The bounce today gets the overall position back to zero deltas. Since it’s only out to 2019 this is probably a good place to book it. Call side struggled a little but put side was great.
Sold to Close FB JAN 18 2019 190.0 Calls
Bought to Close FB JUL 13 2018 185.0 Calls
Sold to Close FB JAN 18 2019 160.0 Puts
Bought to Close FB JUL 20 2018 195.0 Puts
All said and done made 83 cents per contract on this wild experiment. (10 lot….5 each side)
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Gonna have to roll the DITM puts as best I can but at least the call side is back in play. I’ll be using the ratio method for the call side since there’s plenty of premium available. Puts have about $15 dollars of premium in them so far so their basis is around 342 against long 2020 300 LEAP puts.
Rolled TSLA JUL 6 2018 360.0 Puts to JUL 27 2018 357.5 Puts @ .19 credit
Sneaking in a double dip on the call side this week….
Rolled TSLA JUL 6 2018 320.0 Calls to JUL 6 2018 312.5 Calls @ 1.81 credit (6.81 total now)
FB
#LongPuts #LongCalls #LongLEAPStraddles #PureProfit – I have no idea how this stock can be so high. I’m not a fan but I will trade it. Working both sides…
Puts:
Bought to Close FB JUN 22 2018 192.5 Puts @ .17 (sold for 5.60)
Out of the 5.60 the last 1.70 becomes #PureProfit in the position. The cost of the LEAP puts has been recovered now. On a 5 lot this should generate some nice income. With earnings coming in late July I’ll continue to sell aggressively.
Sold FB JUN 29 2018 200.0/180.0 Bull Put Spreads @ 2.30 credit. (I expect this to take some heat but that’s alright with call side needing a little pullback).
Calls:
Obviously difficult to stay up with the stock rise on the call side. Using my strategy of rolling up the LEAPS to finance the weekly call roll. This roll is out to just before earnings. Next roll can then be into the high IV of earnings…
Rolled FB JAN 18 2019 180.0 Calls to JAN 18 2019 190.0 Calls @ 6.85 credit
Rolled FB JUN 22 2018 177.5 Calls to JUL 13 2018 185.0 Calls @ 6.57 debit
TSLA
TSLA
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Managing the put side today…
Bought to Close TSLA JUN 15 2018 325.0 Puts @ .65 (sold for 17.00)
Sold TSLA JUN 22 2018 335.0 Puts @ 5.50
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – On the subject of TSLA….a few adjustments here playing both sides.
Put side:
Been rolling this week’s short puts aggressively up to at or slightly in the money. Currently short two 325 strike puts for Friday @ 17.00 total premium. This will have 38.20 of the original 64.60 purchase covered with 2020 still a few weeks away 🙂 .
Call side:
Had been rolling weeklies out and up to try to stay out of the way. Today since it looks like TSLA could possibly close above the 200ma I bought to close one of the two weekly calls at 30.00. This gives much better upside now. At some point I can re-sell that call or take it out of the massive put premium received so far. Or…could just add it back in to the LEAPS basis on the call side. I’m leaning towards that since the call side basis had already been reduced by 12 dollars (34 down to 22) with 83 weeks still to run.
Since both sides of the LEAPS were spreads (2 each) I’m considering only selling one weekly against those from now on. This will give much better profit potential in either direction with plenty of time to easily recover the original cost.
SPX Campaign Closed Early / UVXY Spread Closed Early
#spxcampaign
$SPX BTC 6/15 2675/2700 BUPS at 1.50 STO at 5.70 Thank you @jeffcp66
#longputs
$UVXY STC 6/15 16/10 BECS at 5.25 BTO at 3.15 Thank you @ramie77
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – 2020 position playing both sides (for now). This early in the trade I can afford to be really aggressive. Put side only needs 1.19 per week to be covered a year early. Call side is just 68 cents.
Bought to Close TSLA JUN 8 2018 292.5 Puts @ .85 (sold for 7.15)
Sold TSLA JUN 15 2018 302.5 Puts @ 6.43
Rolled TSLA JUN 8 2018 292.5 Calls to JUN 15 2018 295.0 Calls @ .40 credit
FB
#LongPuts #LongCalls #LongLEAPStraddles – Got aggressive with my last put sale so bringing it back in a little. LEAP puts already paid for so a small debit roll down. The pullback is helping the call side though.
Rolled FB JUN 8 2018 195.0 Puts to FB JUN 22 2018 192.5 Puts @ .53 debit
FB
#LongPuts #LongCalls #LongLEAPStraddles – A couple trades I didn’t get a chance to post. Similar to TSLA, I’m playing this both directions. I’d like to see a pullback so I’m making a couple very bullish trades…LOL.
Calls:
On the call side adjusting everything up to get the short calls more rollable and back in play. If I can get the short calls to expire at some point the LEAPS have 7.10 gains in them along with another 6.95 of weekly premium so far.
Rolled 170 long LEAPS up to 180 @ 7.10 credit
Rolled 170 short weekly calls up to 177.5 @ 7.15 debit (and rolled out one week to Jun 22nd)
Puts:
Rolled short weekly puts up again. Aggressive roll here to in the money and near all time highs (gulp!)
Rolled 187.5 short puts to 195.0 puts @ 2.17 credit. (total credit on this batch now 6.12)
Of the 6.12 credit on these current short puts the last 2.22 is my first #PureProfit with 32 weeks still to run on a 5 lot…
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Short 292.5 straddles worked pretty good this week so setting it up again for next week. Selling against long LEAPS puts and calls.
Sold TSLA JUN 8 2018 292.5 Calls @ 3.65
Rolled TSLA JUN 1 2018 292.5 Puts to JUN 8 2018 292.5 Puts @ 3.90 credit (7.15 total now)
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Like Sue, I’m playing this from both sides as well. Late fill here while I was out riding the motorcycle during the close. Great day here in STL!
Bought to Close TSLA JUN 1 2018 292.5 Calls @ .25 (sold for 9.15)
I’ll be looking tomorrow to reset this and address my 292.5 short puts. A nice big morning gap up would help but I have my doubts….now that Teslas are starting up by themselves and then taking off and crashing into stuff. I hate to laugh but it’s almost getting comical. Can’t wait to see what Grasso has to say. He’s been buying the dip since 310 I think.
http://fortune.com/2018/05/31/tesla-brussels-autopilot-crash/
FB
#LongPuts #LongCalls #LongLEAPStraddles – Playing both sides here. Been rolling up the puts aggressively the whole way. This last little roll will already completely cover the cost of the long puts leaving 32 more weeks to sell. A pullback (after next week) would be nice…
Rolled FB JUN 8 2018 185.0 Puts to JUN 8 2018 187.5 Puts @ .55 credit (3.95 total now)
The calls have obviously gotten run over. I may roll the long LEAP calls up and use the credit to roll up the weeklies that are ITM. This would still preserve the big gains on the long calls while getting the short calls into a more rollable position.
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Light day today. A little TSLA adjustment here. Rolling puts and calls down into a Jun 1st short straddle.
Rolled TSLA MAY 18 2018 297.5 Puts to JUN 1 2018 292.5 Puts @ .73 debit
Rolled TSLA MAY 25 2018 295.0 Calls to JUN 1 2018 292.5 Calls @ 2.25 credit
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Looks like I’ll be rolling the short puts down so bringing the short calls down and in with them. May end up with a short straddle for next week…
Rolled TSLA JUN 1 2018 312.5 Calls down and in to MAY 25 2018 295.0 Calls @ 2.20 credit (6.90 total now)
FB
#LongPuts #LongCalls #LongLEAPStraddles – Gonna continue pounding the put side while waiting for a pullback. I may end up getting put and call LEAPS paid for in a month just selling near the money puts on this rise. Rolled this one up multiple times last two weeks.
Bought to Close FB MAY 11 2018 182.5 Puts @ .20 (sold for 3.95)
Sold FB MAY 18 2018 187.5 Puts @ 3.22
17.50 premium received in 4 weeks. The combined cost of LEAP calls and puts was 30.00. Still 35 weeks to run. Would enjoy a pullback to get the call side involved again. Until then I’ll be gradually rolling the ITM calls up and out.
EDIT: Rough numbers on the sales. I’ll catch up over the weekend…
NUGT
#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.
FB
#LongPuts #LongCalls #LongLEAPStraddles – Pounding the put side while waiting for a pullback…
Bought to Close FB MAY 4 2018 172.5 Puts @ .05 (sold for 4.06)
Sold FB MAY 11 2018 177.5 Puts @ 2.70
FB
#LongPuts #LongCalls #LongLEAPStraddles – Rolling the put side up for additional credit this week….
Rolled FB MAY 4 2018 162.5 Puts to MAY 4 2018 172.5 Puts @ 1.06 credit (4.06 total on these already)
FB
#LongPuts #LongCalls #LongLEAPStraddles – This is also a little bit of an #Earnings trade to. Seems like all news is bad news right now so making FB come and get me on the long side. Rolling down my short calls that are sold against Jan 2019 160.0 long calls.
Rolled FB APR 27 2018 167.5 Calls to APR 27 2018 160.0 Calls @ 2.67 credit.
Total premium in the call now is up to 7.11. The LEAP only cost 18.50 so recovered 38 percent of the cost in 2 weeks with all this volatility. Still 38 weeks to run. Playing the put side simultaneously also…
FB
#LongPuts #LongCalls #LongLEAPStraddles – Gonna be an interesting earnings announcement. Tons of premium so still selling aggressively. Rolling the call side today. Didn’t quite get the needed pullback.
Rolled FB APR 20 2018 165.0 Calls to APR 27 2018 167.5 Calls @ 2.30 credit
FB
#LongPuts #LongCalls #LongLEAPStraddles – Maybe I’m bored but here we go. Already long the 2019 160 calls so on the bounce I’m buying the put side. For simplicity I’m buying the same strike to complete the straddle.
Bought to Open FB JAN 18 2019 160.0 Puts @ 11.60
After this week 39 weeks to run so needing 30 cents per week to cover. Earnings next week but unfortunately I’ll be out that day so going out the week after since it still has a little volatility pumped into it from the announcement.
Sold FB MAY 4 2018 162.5 Puts @ 3.00 (that already covers a fourth of the long put price 🙂 )
So now long Jan 2019 160 straddles against Apr 20 165 calls and May 4 162.5 puts.
Let’s see how it goes!
VXX
#LongPuts – It’s bouncing so selling my first hedge to begin covering the cost of the long puts. Using a spread just for margin reduction….
Sold VXX MAR 9 2018 38.0/33.0 Bull Put Spreads @ .62
VXX long game
#VXXgame #LongPuts
Added some more to Friday’s $VXX position and also threw out a few different strikes. These are just straight purchases, not paid for by selling call spreads.
Bought VXX Jan 2019 20 puts for 1.75, adding to my position.
Bought VXX Jan 2019 15 puts for .60
Bought VXX June 2018 25 put for 1.32
Will add more. Barring a 2008-style multi-month correction, these will profit easily.
VXX long game
Looking at setting up #LongPutDiagonals on $VXX, following @fuzzballl‘s lead.
Effective price of VXX 16 months ago: 255.00.
Price today: 46.23
Projected price in 16 months (Jan 2019): 8.38
Buying Jan 2019 20 puts now for 1.83, they’ll be worth 12.62 at expiration.
This is the perfect opportunity, and I darned near missed it because I was watching UVXY too much. I did a study a couple years back on buying long put LEAPs right after reverse splits. It almost always works, unless a huge correction happens near expiration, which is why you would likely close a couple months early.
And if I sell some call spreads to pay for it… it’s a golden trade.
Am I missing anything?
PLCE earnings closed
#Earnings Bought to close $PLCE March 17th 95 puts for .05. Sold yesterday as the 95/90 put spreads for 1.10. Kept its recent trend of positive earnings results…. easy peasy.
Options Bistro 