#lophir #closing WMT Closed Oct….

#lophir #closing WMT
Closed Oct. 26 WMT lophir from Sept. 21, made about $60

Lophir petri dishes broke

Closed the last of my lophirs this week: ADBE, AMZN, GOOGL, ISRG, JNJ, MMM, PG. Loss against max risk ranged from 20% to 80%. It’s a good thing I made money in AMZN earlier this year or I would have been really unhappy.


JNJ lophir closed

42% loss against max risk.
Updated from 60% to 42%. Reported inaccurately the first time.:-)


Alas to lophirs

Although it pains me, I must step back from calling lophirs a safe trade. The max risk against potential reward is simply too high when volatility is elevated. So back to MamaCash basics for me.
Don’t risk more than 1% of account value on any single trade.
Map trades to my market mindset of long, choppy, or short. This year has really been a chop fest. Volatility tells it all.
NEVER assume that the markets can’t or won’t spike or drop to blow out your account.

I will survive but not especially proud of taking a big hit on my accounts after securing great profits for the year. I hope the rest of you are not learning the same lessons I am.:-) I will post when I finally close the trades I put on a couple weeks ago but for now, active management continues.


#pre-earnings, #superchargers

Closes and adjustments

Closed WMT and UNH lophirs for profit.
Closed half of SSO lophirs for loss.
Adjusted ADBE, AMZN, DIA, GOOGL, ISRG, MSFT, NFLX, and remaining SSO lophirs with call credit spreads and long puts. Adjustment goal is to extend range to the downside and neutralize rising deltas.

It’s been a tough week for my positions. Down but not out.:-)


Closing trades

Rather than posting closing trades throughout the day, I plan to post a daily summary. I’ll continue to post opening trades individually to ensure that they’re timely in case anyone wants to follow.

BA. Strong stock in strong sector strat. BTO Oct26 lophir @ -2.61. STC @ -.80 for 70% profit. Days in trade 12
AAPL. Pre-ER strat. BTO Oct26 supercharger @ 7.93. STC @ 9.40 for 16% profit. Days in trade 8
NFLX. Pre-ER strat. BTO Oct19 lophir @ -8.31. STC @ -2.50 for 70% profit. Days in trade 13

Note: Profit on lophirs is based on credit received, not max risk. I’m willing to report based on max risk if you all prefer that.

#PreEarnings #supercharger #lophir

AMZN lophir rinse and repeat

Couldn’t resist adding another AMZN lophir on today’s pullback. My trading plan allows me to own two at a time.:-)
Bot AMZN Oct26 +1p/-2p/-1p/+2p 1940/1885/1840/1780 @ -14.40. GTC order to close @ -7.20.

#lophir #rinseandrepeat

NFLX pre-ER lophir

This pre-ER 37/30/20/10 lophir replaces the one that closed for profit earlier today.
Bot NFLX Oct 19 +1p/-2p/-1p/+2p 365/357.5/340/325 PUT/PUT/PUT/PUT @ -6.70 x1
Breakeven point 343. GTC order to close @ 2 for 70% profit. Will close before ER if it hasn’t closed before.

#preearnings #lophir

NFLX lophir closed

#Lophir Closed on GTC order: $NFLX 300/325/340/350 lopper for 2.50. Sold for 8.35 on Sept 19th. Thanks MamaCash!


STC on GTC order ISRG -1 1/-2/-1/2 26 OCT 18 547.5/535/520/505 PUT/PUT/PUT/PUT @-1.74…BTO 9/19 @-3.75 #lophir. Thankyou @MamaCash

AAPL pre-earnings lophir

This is a CML-inspired trade from the Discover tab. This lophir has 37/30/25/10 deltas so double the net delta that I usually do. The backtest is based on 30dte opening 30 days before earnings and closing 10 days before earnings. We don’t have a confirmed ER for AAPL so based this trade on past Oct-Nov ERs for AAPL.

Bot AAPL Nov2 +1p/-2p/-1p/+2p 220/217.5/215/202.5 @ -2.65 x1. No GTC order. Will close 10 days before ER.

#lophir #preearnings

Expiration 9/28

XLV… 1/-2/-1/2… 92/91.5/90.5/89.5 PUT/PUT/PUT/PUT….BTO 8/30 @-.35 #lophir
Thanks @kathycon

ISRG lophir

This is a combo pre-ER and a “rinse and repeat” strat that I use on AMZN, ISRG, and SSO. When one closes, I open another.
Bot ISRG Oct 19 +1/-2/-1/+2 560/552.5/537.5/510 PUT/PUT/PUT/PUT @ -6.53. GTC order to close @ 3.25.

#preearnings #rinseandrepeat #lophir

Closing trades

BTC ISRG Oct 26 lophir @ 1.80. STO @ 3.60. Hit 50% profit target
BTC NVDA Oct5 lophir @ 1.00. STO @ 3.35. Hit 70% profit target.


MSFT top performing sector

Bot MSFT lophir as #2 holding in XLK, one of the top 3 sector ETFs based on last 3 months.
BOT Oct26 +1/-2/-1/+2 112/111/108/105 PUT/PUT/PUT/PUT @-1.15 x2. GTC order to close @ -.34

Another way to look at this trade is to buy 112 put x1, sell 111 put x2, sell 108 put x1, buy 105 put x2. In ToS, I create a custom trade one leg at a time and open all four legs as a single trade.

#lophir #TopPerformingSector


Bot DIA lophir based on top performing index ETF for last 3 months.:-)
Nov2 1/-2/-1/2 262.5/260/257/253 PUT/PUT/PUT/PUT @ -.77 x4. GTC order to close @ .23



Closed this for .19 today
BOT +1 +1/1/-2/2 NFLX 100 19 OCT 18 360/355/340/335 PUT @-.66
Order BTC .19 30% of credit. Think I got this correct.


STC AMZN… 28 Sept 1897.5/1900 BuCS @2.36 with stock @1967.13. BTO 9/21 @1.83. Thanks, @mortlightman. #supercharger
STC XLY…28 Sept 1/-2/-1/2. 116/115/114/112.5 @-.03 . BTO 8/30 @-0.41. Thanks, @kathycon. #lophir

GOOGL pre-earnings lophir

CML recommended a different way of playing GOOGL pre-earnings.

Bot Oct26 1/-2/-1/2 1162.5/1145/1115/1100 PUT/PUT/PUT/PUT x1 @-6.51. BE 1121. Max risk $3594. Will let it run to expiration or take 70% quick profit @ 1.95 if it plays out quickly.

#preearnings #lophir

NVDA Supercharger

#SuperCharger I was looking at a #Lophir but wasn’t liking the margin requirement R/R. This trade is a better fit.

Bought to open $SPX Oct 26th 247.5/257.5 bull call spreads for 7.30. Profit target: 9.40.

Top performer update

Strategy to buy lophirs on top performers in top sectors is working so far. 100% win rate for Sept, hit 70% target profit in three weeks or less. Tickers PG, JNJ, TGT, COST, XLY, and XLV. For those who followed on these trades, I apologize for the late update.

Now holding Oct26 lophirs in BA, PG, UNH, MMM, JNJ, and WMT based on top sectors (industrial, healthcare, and comsumer staples). Posted these trades ydy and today.


Top performers

Buying lophirs in top performing stocks in top performing sectors (Health, Industrial, Consumer Staples). Set GTC orders to close positions at 70% profit based on credit received. There is some earnings risk on MMM and JNJ but not on WMT. Hope to be out of these positions before earnings.

BOT MMM Oct26 1/-2/-1/2 212.5/210/205/197.5 puts @-1.90
BOT JNJ Oct26 1/-2/-1/2 140/139/136/133 puts x2 @-.82
BOT WMT Oct26 1/-2/-1/2 94.5/93.5/92/88.5 puts x2 @-.80


Lophirs in top performers

Bought lophirs in top performing stocks in top performing sectors. As explained earlier, these trades do well when price moves up, flat, or down. They lose money on big pullbacks but losses are capped. There is potential earnings risk in October so will have to watch dates as earnings get confirmed. These are half-size positions. Will add opportunistically on pullbacks.

Bot BA Oct26 1/-2/-1/2 362.5/355/347.5/337.5 PUT/PUT/PUT/PUT @ 2.71 credit (BE 346)
Bot UNH Oct26 1/-2/-1/2 262.5/260/255/247.5 PUT/PUT/PUT/PUT @ 2.22 credit (BE 255)
Bot PG Oct26 +5 1/-2/-1/2 84/83/82/80.5 PUT/PUT/PUT/PUT @ .42 credit (BE 81.80)


BOT +1 +1/1/-2/2 NFLX 100 19 OCT 18 360/355/340/335 PUT @-.66
Order BTC .19 30% of credit. Think I got this correct.

SSO lophir

Bot SSO Oct18 +1/-2/-1/+2 126/124/122/119 PUT/PUT/PUT/PUT @ .55 credit. GTC order to close @ .16.
This is a rinse and repeat trade. When this one closes, I replace it immediately with a new trade… 28 to 35dte, deltas 40/30/22/15. GTC order to close @ 30% of credit received.


ISRG lophir

Bot ISRG Oct26 +1/-2/-1/+2 547.5/535/520/505 put/put/put/put @ 3.60 credit. GTC order to close @ 1.80 or day before earnings whichever comes first. Earnings report not yet confirmed. This is not specifically an earnings trade. I just want to avoid earnings risk.

I’m doing rinse and repeat trades on AMZN, ISRG, and SSO. This means that when a 28-35dte lophir closes for profit, I immediately replace with a new trade using the same parameters.


NFLX lophir pre-earnings

This trade inspired by CMLViz.
Bot NFLX Oct19 350/340/325/300 x 1/-2/-1/2 put @ 8.31 credit. Will close @ 50% profit or day before earnings on Oct 16 whichever comes first. No risk to upside. BE on downside 323. Will adjust with call credit spread or long put at 330, whichever is most cost effective.

A lophir a day keeps…

A lophir a day keeps the losses at bay

Added lophir layers in QQQ, SSO, and XLY
I’m using a @fuzzballl tactic and choosing not to bore you with the details.:-) Here’s a quick refresher. Sell a 30d put x2, buy a 15d put x2, buy a 40d put x1, and sell a 22d put x1. Delta goal at entry is 12 per lot. Set a GTC to take profit or let it expire for full profit.


#earnings #shortstrangles LULU sold Sept….

#earnings #shortstrangles LULU
sold Sept. 21, 115/155 for 2.12


XLV lophir

STO XLV Sep28 +9 1/-2/-1/2 92/91.5/90.5/89.5 PUT/PUT/PUT/PUT x 9 @ .33 credit
Max risk $1862. BE 113.83. Credit $238
Management: Let it expire. If ETF price aligns with peak on risk graph, sell a 35/20d CCS and try to get out even


XLY lophir

STO XLY Sep28 1/-2/-1/2 116/115/114/112.5 PUT/PUT/PUT/PUT x7 @ .34 credit
Max risk $1862. BE 113.83. Credit $238
Management plan: Let it expire for full credit. If ETF price aligns with peak on risk graph, I will sell a 35/20 delta call credit spread in same expiration and try to get out for a scratch.


AMZN closed

#Lophir Closed on GTC order: $AMZN 1820/1855/1885/1915 Lophir put trade for 4.30. Sold for 8.70 yesterday. The gap higher today made this only a one-day trade, although I think the very wide bid/ask spread on a trade like this can work in your favor on both ends, provided you can be patient and don’t force a fill. Thanks @kathycon for the idea!

AMZN lophir

Update: Changed profit target to 80% from 50%. With today’s upside, I want to give this trade more room to profit.

Update2: Closed for 70% profit.

STO AMZN Sep28 1/-2/-1/2 1915/1885/1855/1820 PUT/PUT/PUT/PUT @ 8.69 credit. GTC order to close at 4.35.
This is a rinse and repeat trade. I take 50% profit and replace with another 30dte trade. Management is minimal. If stock price lines up with the peak on the risk graph, cut the delta in half by selling a 35/20 delta call credit spread, a long put or whatever you prefer.

AMZN risk graph



STO +1 2/2/1/1 ~CONDOR SSO 100 21 SEP 18 124.5/123/120.5/118 PUT @.51

SSO TQQQ new trades

Now that @smasty160 (Sue) has informally introduced the “lophir” to Options Bistro, I’ll start sharing some of my trades. By way of a quick refresher, the lophir trade consists of selling 30DTE 30/15 delta put credit spread x2 and buying a 40/22 delta put debit spread x 1. All of these trades are net credit. You may notice me tweaking delta and DTE at times. My goal is to make some quiet money on a low maintenance trade.

STO +5 1/-2/-1/2 SSO Sep21 124.5/123/120.5/118 PUT/PUT/PUT/PUT @ .55 credit. GTC order to close at .17
STO +4 1/-2/-1/2 TQQQ 100 Sep28 68/65.5/63/60 PUT/PUT/PUT/PUT @ .60 credit. GTC order to close at .18

Buyer beware. These trades are in the experimental stage. Current plan is to cut the delta in half when price hits the profit peak on the risk graph and cut it in half again when it hits the breakeven price or close the trade if it’s near expiration. Our backtesting indicated that we wouldn’t need to manage often but live trading can make a liar out of backtests.:-)

#putratiospread #lophir