#perpetualrollingstrangles #inversestrangle TSLA
Rolled June 19, 325/450 inverted ugly strangle to July 20, 330/445 slightly less ugly inverted strangle for 1.17
Tag Archives: PerpetualRollingStrangles
UBER out
#PerpetualRollingStrangles BTC $UBER Jan 10th 31.5 calls for 2.00. Strangles sold for .80 on Dec 6th for .80. Puts previously closed for .05.
#Rolling : Sold $UBER Jan 31st 32/36 strangles for .86. Won’t make up for the loss but will keep it going
#perpetualrollingstrangles TSLA I sure don’t…
#perpetualrollingstrangles TSLA
I sure don’t want it to be perpetual;
Rolled inverted 300/430 strangle from Jan. 17 to Feb. 21 for 16.95. I have collected 85.61. Motley Fool now says it’s a buy.
UBER strangle
#PerpetualRollingStrangles BTC $UBER Jan 10th 25.5 puts for .05. GTC Order in to close 31.5 calls for same. Strangles sold for .80 on Dec 6th.
UBER strangle
#PerpetualRollingStrangles Sold to Open $UBER Jan 10th 25.5/31.5 strangles for .80
TQQQ Rolled Again
#perpetualrollingstrangles
$TQQQ BTC 11/1 66 call and STO 11/15 69 call at debit of 1.13. Would gain $3 if called away. These sold against 60% of 1/2020 66.67 long calls. The long calls are now paid for. But who knows what the future brings. TQQQ at 69.51. I would roll again if an opportunity presents itself.
UBER puts stopped
#PerpetualRollingStrangles BTC $UBER Oct 4th 31 puts for 2.35. Calls previously closed for .05. Strangles sold for .90 on 9/11. This strategy has worked well on UBER, but will wait a few days before starting a new one. My naked puts on $CHWY have NOT worked; underwater. The Upside Warning had me overly confident on both of these.
UBER strangle
#PerpetualRollingStrangles.
BTC $UBER Sept 13th 32.5/38 strangles for .15. Sold for 1.12 on 8/20.
STO $UBER Oct 4th 31/37 strangles for .90
UBER strangle
#PerpetualRollingStrangles Sold to Open $UBER Sept 13th 32.5/38 strangles for 1.12
UBER strangle stopped
#PerpetualRollingStrangles BTC $UBER Aug 30th 37 put for 1.50. The 37/43.5 strangles sold for 1.08 on Friday.
Nice thing about these is how small the loss is if your strike is breached. I will allow the call to close for .05.
I will give it a day or two before selling a new one.
UBER strangles
#Earnings #PerpetualRollingStrangles
Since today’s 39.5/45.5 earnings strangle look to be expiring worthless, I’m resuming what worked for me for a couple months after my earnings losing trade in May:
Sold $UBER Aug 30th 37/43.5 strangles for 1.08
UBER earnings trade
#Earnings $UBER has only reported once, on May 30th, and the next day move was +1.5%. (Max intraday was +4.4%)
Expected move on TOS is +/- 3.59.
Sold $UBER Aug 9th 39.5/45.5 strangles for 1.05. Strikes are 7.1% OTM.
HIIQ NVTA Short Puts / NVDA Earnings Straddle / NFLX BUPS / Rolling TQQQ
#shortputs
$HIIQ STO 3/15 31 puts at 1.19 Thank you @honkhonk81.
$NVTA STO 3/15 15 puts at 1.00
#earnings
$NVDA STO 3/15 120/189 straddle at 1.70. Thank you @thomberg1201
#bups
$NFLX STO 3/15 325/335 BUPS at 2.50 Thank you @ramie77
#perpetualrollingstrangles
$TQQQ BTC 2/15 50 calls and STO 3/15 53 calls for additional .80 credit.
Happy Valentines Day to all. Not much left of it but enjoy.
TLT
#PerpetualRollingStrangles – Not seeing a huge bond rally so easing back into these. Hopefully these will take some heat. Stops set on the Nov 30th sale.
Sold TLT DEC 7 2018 115.0 Calls @ .41
TLT
#PerpetualRollingStrangles – Taking a little pre-election risk off since I had triple sold these.
Bought to Close TLT NOV 16 2018 117.0 Calls @ .06 (sold for .40)
Bought to Close TLT NOV 23 2018 117.0 Calls @ .09 (sold for .34)
TLT
#PerpetualRollingStrangles – Triple selling the call side using the falling 20ma as a guide for resistance. Stops set on the previous sales.
Sold 12 TLT NOV 30 2018 116.0 Calls @ .38
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 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
TLT
#PerpetualRollingStrangles – Adding another batch with stops on the others.
Sold TLT NOV 16 2018 117.0 Calls @ .40
TLT
#PerpetualRollingStrangles – Taking off a third of my triple size sales against the put side…
Bought to Close TLT OCT 26 2018 119.0 Calls @ .03 (sold for .40)
TLT
#PerpetualRollingStrangles – On the last pop in TLT I bought a bunch of disaster puts to help out with the DITM short puts. I’m rolling them down a couple strikes to insure a double on the position but leaving the rest on for a free shot at more downside. Was tempted to close it all for a 5 bagger but prefer leaving some protection on.
Rolled 20 TLT NOV 16 2018 110.0 Puts to NOV 16 2018 108.0 Puts @ .33 credit (bought for .15)
TLT
#PerpetualRollingStrangles – Triple selling these against the DITM puts. Last two batches of short calls are very profitable with stops set so adding another.
Sold TLT NOV 9 2018 116.5 Calls @ .47
TLT
#PerpetualRollingStrangles – Still plugging away on this one. Put side rolled out and down to 2020 and selling the weeklies against those. Been a nice solid performer considering it was an experiment started nearly 3 years ago…LOL
Bought to Close TLT OCT 5 2018 119.0 Calls @ .01 (sold for .43)
Sold TLT NOV 2 2018 118.0 Calls @ .44
AMAT DG ERX EWW GLD OLED TLT WTW
#LongCalls #LEAPS -Been an extremely busy week away from the market so catching up here. I’ve got a few more tomorrow that I’ll need to watch also.
AMAT:
Sold AMAT OCT 26 2018 41.0 Calls @ .43
DG:
Rolled LEAPS out to 2021 and continuing to sell against.
Sold DG OCT 12 2018 113.0 Calls @ .60
Sold DG OCT 19 2018 112.0 Calls @ .65
ERX:
Closed position since it’s near resistance. Made .73 per contract on a little quickie.
EWW:
Rolled EWW SEP 28 2018 48.0 Calls to OCT 19 2018 48.5 Calls @ .14 debit (ratio’d)
GLD:
Sold GLD OCT 19 2018 113.5 Calls @ .52
OLED:
Bought to Close OLED SEP 28 2018 140.0 Call @ .05 (sold for 1.32)
TLT:
Still running a #PerpetualRollingStrangles on this one….
Sold TLT OCT 26 2018 119.0 Calls @ .40
WTW:
Still messing with a #CoveredCalls position…
Bought to Close WTW SEP 21 2018 70.0 Calls @ .23 (sold for 2.45)
Sold WTW OCT 5 2018 68.0 Calls @ 3.23
LUV OLED TLT DG CELG
#LongCalls #LEAPS – Did manage a few today…
======================================
LUV:
Bought to Close LUV May 25 2018 53.0 Calls @ .05 (sold for .32)
Sold LUV JUN 8 2018 52.0 Calls @ .50
======================================
OLED:
Bought to Close OLED MAY 25 2018 104.0 Calls @ .10 (sold for 1.70)
Sold OLED JUN 1 2018 99.5 Calls @ 1.25
======================================
TLT: #PerpetualRollingStrangles
Bought to Close TLT JUN 1 2018 119.0 Calls @ .24 (sold for .40 double sale so closed early for safety)
======================================
DG:
Added to DG for earnings next week…full position now
Bought DG JAN 18 2019 95.0 Calls @ 8.70
Sold DG JUN 1 2018 101.0 Calls @ .90
======================================
CELG:
Bought to Close CELG MAY 25 2018 86.5 Calls @ .03 (sold for .65)
Sold CELG JUN 1 2018 79.0 Calls @ .72
======================================
TLT
#PerpetualRollingStrangles – Going out a couple weeks on next sale…
Bought to Close TLT MAY 18 2018 119.5 Calls @ .05 (sold for .52)
Sold TLT JUN 1 2018 119.0 Calls @ .40
TLT
#PerpetualRollingStrangles – This week’s 120s look safe so going out a couple weeks for the next sale…
Sold TLT MAY 18 2018 119.5 Calls @ .52
TLT
#PerpetualRollingStrangles – Another one in the books…
Bought to Close TLT APR 27 2018 121.5 Calls @ .06 (sold for .60)
Sold TLT MAY 4 2018 120.0 Calls @ .42
EDIT….
For some additional downside help:
Bought TLT SEP 21 2018 100.0 Puts @ .12
PYPL TLT
Lots of fills coming in….
PYPL #SyntheticStock : Rolling out and up one week into the week prior to earnings.
Rolled PYPL APR 13 2018 76.0 Calls to APR 20 2018 76.5 Calls @ .30 credit
==============
TLT #PerpetualRollingStrangles :
Rolled TLT APR 13 2018 120.5 Calls to APR 27 2018 121.5 Calls @ .05 credit
TLT
#PerpetualRollingStrangles – Was a little early but another good week for this one…
Bought to Close TLT APR 6 2018 121.0 Calls @ .15 (sold for .70)
Sold TLT APR 13 2018 120.5 Calls @ .56
TLT
#PerpetualRollingStrangles – Just to give it a little more room….
Bought to Close TLT MAR 29 2018 120.5 Calls @ .31 (sold for .62)
Sold TLT APR 6 2018 121.0 Calls @ .40
TLT
#PerpetualRollingStrangles – Close but have to roll…
Rolled TLT MAR 16 2018 119.5 Calls to MAR 29 2018 120.5 Calls @ .15 credit (.63 total credit now)
TLT
#PerpetualRollingStrangles – Back just in time to make a few trades…
Bought to Close TLT MAR 2 2018 120.0 Calls @ .03 (sold for .44)
Sold TLT MAR 16 2018 119.5 Calls @ .48
TLT
#PerpetualRollingStrangles – Lots going on in my TLT position…LOL Been carrying some of these short calls for a long time…(added a few recently too) Rolled DITM puts out to 2020 and way down. I’ll be selling the call side against those for awhile (cautiously!) Also synthetic short and long puts shorter term.
Bought to Close TLT FEB 16 2018 120.5 Calls @ .03 (sold for .49)
Bought to Close TLT FEB 16 2018 121.0 Calls @ .02 (sold for 2.20)
Combined all of those into one big new sale…
Sold TLT MAR 2 2018 120.0 Calls @ .44
WYNN so long old friend
#PerpetualRollingStrangles – Well…it’s with a heavy heart I bid farewell (for now) to an old friend. Been in the starting lineup for about 15 months. Just a little ‘ol 3 lot strangle that’s been rolled around and rolled around plugging away day after day. Reversed it into a bull put spread and now with the big run up I’m booking the whole thing.
Great trade on the reverse roll but not so hot on selling the calls above it yesterday. Still a nice winner…
Bought to Close WYNN FEB 16 2018 200.0/170.0 Bull Put Spreads @ 5.81 (sold for 16.70)
Bought to Close WYNN JAN 26 2018 195.0 Calls @ 5.75 (sold for 1.00)
Net gain of 6.14 on this 5 lot. The (very good) news is the total profit this ticker has generated since the beginning. Averaging a 3 lot the entire time premium received was just north of 40 points carrying about 5k margin during the run.
RIP WYNN (for now)
TLT
#PerpetualRollingStrangles – Using this pullback to get out of a few of my short calls that have been DITM for quite awhile. I’ve got my July #FuzzyBear to help protect to the downside now…
Bought to Close TLT FEB 16 2018 123.0 Calls @ 1.70 (sold for 2.45)
TLT
#FuzzyBear – Covering my July FuzzyBear. I added this last week shorter term to protect my #PerpetualRollingStrangles that were getting too long. After the final numbers are in it looks like 20 cents a week through July to cover max loss. But…if TLT breaks long term support this could be a bigly winner.
Sold TLT JAN 26 2018 122.5 Puts @ .30
TLT
#PerpetualRollingStrangles – I won’t go into the details but added some protection for the bond collapse everyone is talking about.
Rolled DITM puts out and down
Still sitting on short calls near ATM
Added a June #FuzzyBear for some protection since delta was getting too long
Leaving it unhedged for now. Still enough time to sell to cover max loss…
I ran a little experiment…
I ran a little experiment for about 8 months last year, did not post because I was not sure how it was going to work out but here is another easy to manage, high return tactic. I got this from options income blueprint. I do not subscribe to this particular branch of it, but easy to understand and I reverse engineered it using different names. They were using AAPL, LNG, and GILD.
It is called perpetual income engine. Very simple, take about 2-5 stocks that tend to stay in a range with good option premium. Start by selling a 1 week put either ATM or 1 strike below. It is either assigned or is not. If it is assigned immediately take delivery of the stock and then on Monday sell the ATM or 1 strike out of the money covered call. If not assigned, then sell the next week put. It is very easy to implement and does not take much time.
I used 3 tickers last year, TSO which has since become ANDV, XBI, and WDC. As I am starting to review my trades from last year for taxes, I see how effective it was. It takes a while to sort everything out but the results were impressive given the simplicity.
8 months, 3 contracts each name so only tying up about 50,000 of capital earned a 57.7% return. Annualized 86.55% return. Pretty impressive given the simplicity. Obviously I will keep this going and will start posting my trades now. They will be known as #pietrades.
I do not have all the numbers yet, but the last year appears that naked puts and strangle selling was the most effective, followed by PIE trades, and a very close third goes to #fuzzies based on return on capital. However the #fuzzies worked the best for recovery of positions that went really bad. Not surprisingly given the one-sided market credit spreads did not do as well last year.
I am always looking for the most efficient way to use capital, make money, and give me more free time. Based on these results I will probably focus on those 3 strategies most of this year and will add in the occasional #spycraft when the volatility is decent.
TLT
#PerpetualRollingStrangles – Filled Friday but missed it. This entire position sat inverted for all of 2017 with rarely either side getting taken out. Still made 2.5 times margin required. I’ll keep it going…nice steady theta day after day with little P/L change due to the inversion. 6 contracts each for 4- 5k margin…
Rolled TLT JAN 19 2018 127.0 Puts to TLT FEB 16 2018 127.0 Puts @ .75 credit.
Everything now in Feb monthly. 121/123 calls and 127/130 puts. Showing $40 theta per day for 4500 margin with a delta of +12. How did I decide on the position size? Stress tested it through TOS Analyze tab using TLT at 87 and/or 143. Using it’s most extreme values over the last 10 years the risk was satisfactory considering the annual returns.
WYNN
#ShortStrangles and #PerpetualRollingStrangles – Finally pulling back so pairing my short puts up with the 140 strike calls. 30 points inverted with 27.20 premium received all together. Goal now is to start squeezing the inversion in a little or with enough of a pullback roll the calls up and take stock at a 142.80 basis.
Rolled WYNN JAN 5 2018 170.0 Puts to JAN 19 2018 170.0 Puts @ .40 credit
TLT
#PerpetualRollingStrangles – Still inverted and still rolling. Collecting premium every month…I call it my #SyntheticDividend … 🙂
Rolled TLT JAN 19 2018 121.0 Calls to FEB 16 2018 121.0 Calls @ .22 credit
Rolled TLT JAN 19 2018 123.0 Calls @ FEB 16 2018 123.0 Calls @ .37 credit
And closed a little bonus trade:
Bought to Close TLT JAN 12 2018 125.0/130.0 Strangles @ .64 (sold for 1.35)
WYNN
#ShortStrangles and #PerpetualRollingStrangles – Still selling against Jan 140 strike DITM calls. I may take stock closer to Jan expiration but still just premium collecting for now.
Rolled WYNN DEC 22 2017 170.0 Puts to JAN 5 2018 170.0 Puts @ 1.75 credit
Total credit on these now up to 8.60 and total credit sold against the calls now up to 26.80. The goal will be to get a nice roll up of the calls into earnings with another nice put sale to go along with it. Could close the whole thing for a scratch but trying to keep most of it as the calls get rolled up.
TLT
#PerpetualRollingStrangles – Missed out a couple days ago on covering my short puts that I’ve been rolling forever. Could’ve booked them at nearly 80 percent of max. Got greedy and held. Of course now TLT is tanking so it’s back to rolling along inverted until one side gets taken out. Either way, should still be close to 150 percent gain on margin for the year.
Yesterday:
Rolled 130 puts to Feb for .51 credit
Rolled 127 puts to Jan for .42 credit
WYNN
#ShortStrangles – Getting weak this afternoon so going ahead with the roll for another week. Still selling against DITM short calls. Raising basis on those. Another one I’ve been in all year just rolling around so let’s call it a #PerpetualRollingStrangles now. It’s in third place YTD trailing only TLT and NVDA in this account. Up 100 percent on margin. Overall SVXY and UVXY near the lead too as usual.
Rolled WYNN DEC 8 2017 160.0 Puts to DEC 15 2017 160.0 Puts @ 1.60 credit
EWZ
#ShortStrangles – Been working this one for awhile as a #PerpetualRollingStrangles trade and had it narrowed down to a Dec monthly short straddle. The price is at the straddle strike today so taking the opportunity to book it for decent profit and re-sell and re-center.
Bought to Close EWZ DEC 15 2017 40.0 Straddles @ 1.93 (sold for 2.72)
Sold EWZ JAN 5 2018 37.0/43.0 Strangles @ .82
TLT
#PerpetualRollingStrangles – This is almost a freebie since the sales are near my inverted strikes. Selling 50 ma and above recent highs…
Sold TLT JAN 12 2018 125.0/130.0 Strangles @ 1.35
GLD
Big change in strategy here with much lower risk. Moving #PerpetualRollingStrangles over to a Whiz #SyntheticStock out in 2020. Same amount of margin required and taking away the naked risk of the strangles. This should also be a nice hedge in a market meltdown if everyone runs for safety.
So:
Sell to Open GLD JAN 17 2020 122.0 Puts @ 7.65
Buy to Open GLD JAN 17 2020 122.0 Calls @ 12.45
Disaster puts fairly tight:
Bought to Open GLD JAN 17 2020 120.0 Puts @ 6.85
This gives a net debit of 11.65 for the Jan 2020 position. Add the 2 point max downside and get a max loss of 13.65. I did have to close my current strangles at a small loss too:
Bought to Close GLD DEC 15 2017 125.0/118.0 Inverted Strangles @ 7.30 debit (sold for 4.20)…
That’s a loss of 3.10 but at half size of the new position so I’ll add 1.55 to my basis in the new position. This will also allow me to officially book the $6100 in realized premium that the strangles have brought in over the last year or so.
With 111 weeks remaining in the trade and a max loss of 15.20 I’ll only need to sell about 13.5 cents a week to cover the max loss worse case scenario.
So:
Sold GLD DEC 8 2017 123.5 Calls @ .28
PS…yes I could’ve just bought the LEAP calls and sold against them but I like to have the possibility of booking some profit on my hedge and maybe adding to the long position at some point.
TLT
#PerpetualRollingStrangles – Filled on this call roll late yesterday…of course today would’ve been much better. Someday one side of these will expire and I can roll the other side to something less inverted. In the meantime collecting more premium.
Rolled TLT DEC 15 2017 123.0 Calls to TLT JAN 19 2018 123.0 Calls @ .20 credit
And today:
Just going out two weeks…
Rolled TLT DEC 15 2017 127.0 Puts to DEC 29 2017 127.0 Puts @ .37 credit
Rolled TLT DEC 15 2017 130.0 Puts to DEC 29 2017 130.0 Puts @ .27 credit
TLT
#PerpetualRollingStrangles – Getting this one out of the line of fire of a possible early exercise for the dividend. Still sitting on the Dec 123 calls and 127 ,130 puts.
Rolled TLT DEC 15 2017 121.0 Calls to JAN 19 2018 121.0 Calls @ .05 credit
TLT
This was a bonus #ShortStrangles I had on in addition to the #PerpetualRollingStrangles . Not wanting to let a decent winner get away (it was a bonus after all 🙂 ) I’m booking it. Looking to maybe do it again out in Jan.
Bought to Close TLT DEC 15 2017 121.0/129.0 Strangles @ .55 (sold for 1.55)
WYNN
#ShortStrangles – Finally booking the puts and looking to roll the ITM 130 calls. All of the profitable put sales from the last couple months are going towards raising the basis in the short calls. Hoping to turn into a covered call position at some point. WYNN is turning into a #PerpetualRollingStrangles type trade. Been in it over a year now and works great for those.
In spite of the DITM calls it’s still in my top 10 performers for the year… 🙂
Bought to Close WYNN NOV 17 2017 152.5 Puts @ .15 (sold for 8.02 accumulated premium)
rolled GLD
#PerpetualRollingStrangles – Tastytrade research suggests rolling at 15-20 days to go to maintain max daily theta which is the goal of these. If they’re out of the money I’ll hold ’em but in the money I’ll roll ’em.
Rolled GLD NOV 17 2017 125.0/118.0 Inverted Strangles to DEC 15 2017 125.0/118.0 @ .85 credit
TLT roll
#PerpetualRollingStrangles – Picking up another nice monthly “dividend”…
Rolled TLT NOV 17 2017 130.0 Puts to TLT DEC 15 2017 130.0 Puts @ .30 credit…
Current positions now all in December bringing in $44 per day of theta. I felt this was a pretty important thing to remember about these “forever” trades. Time decay is time decay…whether in the money or not, it’s the same. As long as the deltas are reasonable just keep on collecting. Easily bringing in 150% on margin annually.
December:
121.0 Calls and Puts
123.0 Calls
127.0 Puts
129.0 Calls
130.0 Puts
Slightly long deltas…
TLT
#PerpetualRollingStrangles – Surprise fill prior to the Fed announcement. Loading up more theta…
Rolled TLT NOV 17 2017 127.0 Puts to DEC 15 2017 127.0 Puts @ .66 credit
TLT
#PerpetualRollingStrangles – Missed one yesterday. Keeping the theta coming in on these. I’ll be rolling a lot more after FOMC today.
Rolled 6 TLT NOV 17 2017 121.0 Calls to TLT DEC 15 2017 121.0 Calls @ .35 credit
EWZ
#ShortStrangles and possibly #PerpetualRollingStrangles – Haven’t been in this one in awhile. Finally showing some two sided action…
Sold EWZ DEC 15 2017 40.0/44.0 Strangles @ 1.55
TLT
#ShortStrangles – Got a little wiggle in TLT on the Fed minutes and my standing order filled. Increasing position size slightly on this #PerpetualRollingStrangles position.
Sold TLT DEC 15 2017 121.0/129.0 Strangles @ 1.55
EWW
#PerpetualRollingStrangles – Just another roll for a small credit. Sold against Dec 51 calls…
Rolled EWW OCT 6 2017 56.0 Puts to NOV 17 2017 55.0 Puts @ .15 credit
WYNN adjustment
Started out a year ago as a #ShortStrangles position but has turned into a nicely performing #PerpetualRollingStrangles position.
Currently running along inverted. 145/125 inverted @ 12.15 credit. Ideally in these inverted positions you’d like total premium received to be greater than the width of the inversion for it to be profitable. I’m not quite there yet so rolling to decrease the inversion. Out two weeks and squeezed it in by two points. Really wanted the 145 puts to expire today but not quite there.
Rolled WYNN SEP 15 2017 145.0/125.0 Inverted Strangles to SEP 29 2017 145.0/127.0 Inverted @ .15 credit
Like a friend who stays longer than you expected…
#Earnings #StrangleRoll Looks like I am committing to a longer term relationship with $RH. Not happy about my sloppy exit, but what’s done is done.
BTC RH Sep 8th 64.5 calls for 7.05
STO RH Oct 20th 65/75 strangles for 6.70. Sold an extra 65 put for 3.90, to give me a roll credit of .43 on the whole trade. I will manage this similarly to #PerpetualRollingStrangles
EWW
Not really a #PerpetualRollingStrangles trade but it’s turning into one. Got a stop on next week’s 55’s at 50 percent of max profit so selling the next batch.
Sold EWW OCT 6 2017 56.0 Puts @ .85
GLD
#PerpetualRollingStrangles – I had already double sold the next batch for a couple weeks out. Forgot I had this order in to close this week’s.
Bought to Close GLD SEP 8 2017 124.5 Puts @ .03 (sold for 1.24)
GLD
#PerpetualRollingStrangles – This week’s 124.5s are looking good so adding a new position a couple weeks out…
Sold GLD SEP 22 2017 125.5 Puts @ .85
TLT…book, roll, adjust
#PerpetualRollingStrangles – A couple more and now done with this for awhile.
Taking a little more than 50 percent of max on an extra sale on the put side during the rise. This gets me back to a regular size position.
Bought to Close TLT SEP 8 2017 126.5 Puts @ .50 (sold for 1.10)
And:
Rolled TLT SEP 15 2017 131.0 Puts to NOV 17 2017 130.0 Puts @ .38 credit
TLT
#PerpetualRollingStrangles – Interesting morning in this thing. I had been hit with early exercises numerous times on DITM short calls as early as 18 days out. Because of this I had been rolling these at about the 21 day mark back out to 45 or 50 days. Well…today set a record. Every single short call I had was exercised….
Sep 22 122 strike (21 days early)
Sep 22 123 strike (21 days early)
Oct 20 121 strike (an incredible 49 days early!)
Luckily the stock is down big today so was able to cover it at a pretty good price. Then re-loaded all the short calls way out in November.
Sold TLT NOV 17 2017 121.0 Calls @ 6.50
Sold TLT NOV 17 2017 123.0 Calls @ 4.85
So…here’s what happened:
https://tickertape.tdameritrade.com/trading/2017/05/analyzing-dividend-risk-61479
My fault…was vaguely aware this was an issue but wasn’t sure of all the risks involved. Luckily with the short stock carrying more negative deltas than the short calls the whole thing should be net positive in spite of the dividend. Lesson learned but still a big fan of the ticker…
GLD
#PerpetualRollingStrangles – Bought to Close GLD SEP 1 2017 122.0 Puts @ .05 (sold for 1.00)
TLT
#PerpetualRollingStrangles – Set a stop on next week’s 126.5s at 50 percent of max profit. Selling a new batch for slight delta adjustment.
Sold TLT SEP 22 2017 126.5 Puts @ .70
GLD
#PerpetualRollingStrangles – I’ve got a stop on this week’s 122’s at 75 percent of max profit. Selling aggressively for next week. As long as gold holds 1300 these should work…
Sold GLD SEP 8 2017 124.5 Puts @ 1.24
GLD
#PerpetualRollingStrangles – For safety since I’m pretty heavy on the put side…
Bought to Close GLD AUG 18 2017 121.0 Puts @ .25 (sold for 1.15)
GLD adjustment
#PerpetualRollingStrangles – Could Gartman be right? LOL…rolling out short calls and double selling puts until she turns around.
Rolled GLD SEP 15 2017 117.0 Calls to NOV 17 2017 118.0 Calls @ .21 credit
And:
Sold GLD SEP 1 2017 122.0 Puts @ 1.00
This was an additional sale of a full position. Still holding a full position of 121’s for next week with a stop on them at 50 percent of max gain.
TLT GLD
I haven’t been posting any of the #PerpetualRollingStrangles positions but still in them and working. I was getting early exercised a couple times on some DITM TLT. Sometimes as early as 18 days out they were getting tagged. So based on some TT research and trying to maximize P/L per day I’ve been rolling the ITM positions about 3 weeks early and resetting to the 45 day mark. I’ve noticed a huge improvement in daily swings and a nice steady rise in the gains for the positions.
FWIW…
EWW
#PerpetualRollingStrangles – With the latest sale I was actually over sold on the put side by 3:1. Showing weakness today so booking the extras…
Bought to Close EWW AUG 11 2017 54.0 Puts @ .11 (sold for .45)
Bought to Close EWW AUG 18 2017 53.0 Puts @ .12 (sold for .91)
EWW
#PerpetualRollingStrangles – Replacing some Aug 11 and Aug 18 positions that are almost worthless.
Sold EWW SEP 15 2017 55.0 Puts @ .61
WYNN again
Almost a #PerpetualRollingStrangles position but not really. Just a great stock for premium selling…continuing to sell against ITM calls.
The power of the volatility collapse…even though the stock moved 9 or 10 dollars against my short puts was able to get out of them virtually even. Then was able to go out another week and sell into the drop at lower strikes.
Bought to Close WYNN JUL 28 2017 133.0 Put @ 3.20 (sold for 3.30)
Bought to Close WYNN JUL 28 2017 134.0 Put @ 3.80 (sold for 3.81)
Bought to Close WYNN JUL 28 2017 135.0 Put @ 4.80 (sold for 4.29)
So…lost 40 bucks on those all together. I’ll take it out of this:
Sold WYNN AUG 4 2017 130.0 Puts @ 2.45
Options Bistro 