Shotgun trades, new #optionladder
Setting up some new ladders in names with good premium. Some have earnings in a few weeks.
STO EOG 11/3 93 put at 1
GILD 11/3 79 put at 1.04
MU 11/3 39 put at 0.93
Will add new trades each week until 3-4 rolling weeks on the ladders.
BTC 11/3 XBI 79 put at 0.23. Sold 0.94. Premiums dried up on this since it went booster phase. Should improve with next big pull back. Only 1 week left on the ladder on this then will be out until the premiums improve again.
BTC XBI 21 DTE 80 put for 0.22. Sold for 1.01. Holding off on adding to the ladder since this thing went parabolic last 2 months. When it pulls back will re-establish.
Also freeing up cash/margin for when things look better from an option selling stand point.
Last trade of the week for me, hope everyone has a good expiration and weekend!
BTC XBI 10/20 78 put for 0.16. Sold for 0.94. No point in leaving the risk for $16 in theta over 21 days.
Sometime the market gods giveth, sometimes they taketh away. No point in tempting the market gods!
Apparently the SPX and SVXY only go up forever although the charts are starting to look like 2000 and 2008 so there may be a lot of irrational exuberance. So my SVXY 78 call (14 DTE) which I just rolled last week is still DITM and the time value was down to 0.12 so rolled to 28 DTE 78 for 1.15 credit. Brings cost basis down to 10.97 and 16.05 depending on lot.
Now profit is $5312 in 7 weeks on 4 contracts and I am not complaining but if I had not sold the short calls and just did the synthetic long with the protective put would be up 7k+.
I will try to roll it up if we ever get a pullback but right now so far ITM hard to roll it up for a credit unless I go way out in time.
Maybe better just to sell puts on this one and take assignment to go long or start a synthetic long on a volatility spike. Will keep the experiment going, there are still 68 weeks left for it to play out but the first 7 weeks are promising!
I am done paying for option services but Fishback just made their high accuracy options DVD available for $99. Usually sells for $2000. I doubt there is anything earth shattering in it, but they had 300% returns confirmed last year so for $99 I think it is worth taking a look. I will get it and if I discover anything new pass it along. Tripling an account in 1 year would certainly help anyone’s bottom line and I believe that included about 5 losses, not sure if it went full loss or they closed it early or were able to roll it and that is what I am interested in. I think they stick with SPY and QQQ.
STO XBI 11/3 79 put at 0.93. Added a 4th week to the ladder.
The OTM options on this decay fairly quickly so open 30-40 DTE and usually roll when they have 1-2 weeks left so they are not open until expiration. Works well like tastytrade style but you can usually get more than 50% out of it before rolling.
$AZO #ShortCalls #OptionLadder – sold these on this morning’s gap at 562.0 Paired with long term short Puts.
Sold AZO SEP 15 2017 580.0 Calls @ 0.40 – these expire Friday
Sold AZO SEP 22 2017 660.0 Calls @ 0.60
Sold AZO SEP 29 2017 660.0 Calls @ 0.90
$SVXY #ShortPuts #OptionLadder – watching my SVXY Sep 8 2017 76.0 Puts expire. Replacing them.
Sold SVXY Oct 6 2017 65.0 Puts @ 2.11.
$LB #CoveredCalls #OptionLadder – with the stock at 39.87
Sold LB Nov 17 2017 47.5 Calls @ 0.85
Sold LB Jan 19 2018 50.0 Calls @ 0.90