TSLA

#ShortStrangles – Making an adjustment but adding a little downside protection…

Started out as a Jan 2018 175/500 strangle @ 6.10 credit
Rolled 175 to 250 @ 7.40 credit

Today rolled 250 to a 300/200 bull put spread @ 6.27 credit.

Position now 300/200 BuPS against 500 call @ 19.77 credit.

Can this thing see 500 by Jan 2018? TOS says 85 percent chance it won’t get there and a 70 percent chance 300 won’t get hit so still slightly higher downside risk.

#perpetualrollingstrangles

EWW

#PerpetualRollingStrangles – Order in to close this week’s 52 puts which are almost worthless so getting a jump on July…

Rolled EWW JUN 16 2017 50.0 Calls to JUL 21 2017 50.0 Calls @ .07 credit

And:

Sold EWW JUL 14 2017 52.5 Puts @ .76

GLD

#PerpetualRollingStrangles – After a bunch of rolls with a decent size position finally getting out…(for a few minutes)…LOL

Bought to Close GLD JUN 16 2017 120.0 Puts @ .18 (sold for 4.50 accumulated premium)
Sold GLD JUN 30 2017 121.0 Puts @ .70

And:

Rolled Jun 113 calls to Jul 113 @ .18 credit

TLT

#PerpetualRollingStrangles – Decent size position here so booking and then splitting up into different expirations…

Bought to Close TLT JUN 9 2017 123.0 Puts @ .09 (sold for 1.15)

Sold TLT JUN 16 2017 125.0 Puts @ .82
Sold TLT JUN 23 2017 124.5 Puts @ .80

EWZ

#PerpetualRollingStrangles – I’ve got a couple of directional positions on already. This one is a little more neutral. Low margin and nice return. One of the highest IV rank stocks on the Tastyworks list.

Sold EWZ JUN 30 2017 32.0/38.0 Strangles @ 1.12

EWW

#PerpetualRollingStrangles – Slow and steady…

Bought to Close EWW MAY 26 2017 51.5 Puts @ .04 (sold for .75)
Sold EWW JUN 16 2017 52.0 Puts @ .74

These types of positions are working so well in GLD and TLT I’ll probably be adding EWZ and XLE at some point…

Rolled GLD

#PerpetualRollingStrangles – Darn it…thought she might take out the puts this week but didn’t quite have the oomph. Rolling a month and tightening the inversion by a half point while still bringing in nice credit.

Rolled GLD MAY 19 2017 120.5/113.0 inverted strangles to JUN 16 2017 120.0/113.0 @ .80 credit