smasty 8:56 am on Monday, June 11, 2018
Tags: condorwithaparachute, frankestein, lopsidedbutterfly, madscientist, NightStalker, TLFOH, toolongforonehashtag, UnbalancedDiagonals ( 3 )

Jun 11 Trades

My only trade so far today is a “Ratio Double Undie”…commence rolling eyes 🙂
Playing around this weekend on Undies #UnbalancedDiagonals I found that adding a 2×1 put undie to the mix lowered risk even more without sacrificing a ton on the upside profit.
Work this up in your analyze tab to check it out. This is my actual trade:
NVDA: I picked July 27 expiration for the long to avoid the earnings volatility. July 27 + 8 255 calls @ 14.30, July 27 + 2 270 put @ 14.10, Jun 15 -6 265 call @ 2.10, Jun 15 – 1 275.5 put @ 1.69.
Stats: Theta for this week alone: $1429, Max risk: About $6300, Profit @ $265: $2080
Without that little put add on max risk is just over $9900, so it really cuts risk while maintaining high profit capability.

Today is shaping up to be a theta day…not a lot to do.

Sue

#condorwithaparachute, #frankestein, #lopsidedbutterfly, #madscientist, #nightstalker, #tlfoh, #toolongforonehashtag

smasty 8:59 am on Friday, June 8, 2018
Tags: NightStalker, pietrades ( 240 ), Saf-T ( 12 ), UnbalancedDiagonal ( 32 ), UnbalancedDiagonals ( 3 )

Jun 8 trades

Busy day here! Every single one of my #Saf-T trades is in the money for expiration, so I’m executing share calls and resets on them in multiple accounts.

LMT: I rolled into strength this morning, which means I rolled at the day’s high. This means that I didn’t collect a whole lot on the jun 8 calls ($222 of $1416) but I sold really high for next week, $2550 worth. If you recall, I’m now using LMT as a proxy to recover RTN losses (apples to apples in just one account). Last Friday the LMT-RTN was $-3858. Today it is $-3157. Gettin’ there.

My total premium sold for today was $14,894. It looks like I will collect $10,184 for a 68% retention.

I almost forgot my note-to-self about ETF divs next week and started a roll into next week. I quickly fixed that. All my SPY rolls are to Jun 13, the TQQQ rolls are to Jun 22, pretty far OTM.

Everyone have a fun and safe summer weekend! It’s been a great week for covered’s.

Oh…anyone in TWTR short calls….just keep an eye on extrinsic value, no action today necessary.

#nightstalker, #pietrades, #unbalanceddiagonal, #unbalanceddiagonals

smasty 6:57 am on Thursday, June 7, 2018
Tags: NightStalker, UnbalancedDiagonal ( 32 )

Jun 7 Trades:

ADBE: This started as an Aug/Jun 15 #UnbalancedDiagonal 7×5, until I realized I had forgot about earnings next week. So I scratched the qty 5 short calls for Jun 15 and sold 7 instead for this week. I took profits out the gate this morning for $602 total. I’d like to thank @mamacash for the idea to flip it to this week. Update: I did NOT see this drop coming, fully admit I had some luck jumping on profits at the open for my exit. My closing timestamp was 07:31:19, one minute after the open.

AMZN: Opening trade, protected #UnbalancedDiagonal 1. Bought July 1650 call x2 @ 80.05 2. Sold Jun 15 1700 call x1 @ 18.87 3. Bought Jun 15 XLY 108.5 puts x10 @ .38. One thing I’m learning at the pit is using partial profits on one trade setup as a sacrificial hedge (aren’t all hedges sacrificial…it was fun to say 🙂 ) in either the same or different/correlated product. It seems obvious, but I haven’t been doing much of that. So the XLY puts take $380 of the Amazon profits for a little extra downside protection. I continue to peel away more and more risk for trading this behemoth. Just a few weeks ago I was taking $160K risk, now it’s down to around $10-12K of risk.

Still to manage this week: I still have zero assignments on the Saf-T’s, LMT x2 (LMT lookin’ good! Will definitely put a dent in the RTN loss), that’s it!

#nightstalker