#PerpetualRollingStrangles – Another roll going out a month this time…
Rolled GLD JUL 21 2017 121.0 Puts to AUG 18 2017 121.0 Puts @ .31 credit
Tag Archives: PerpetualRollingStrangles
TLT
#PerpetualRollingStrangles – Increasing size just a little…
Sold TLT OCT 20 2017 115.0/130.0 Strangles @ 1.17
GLD
#PerpetualRollingStrangles – Using this pullback to book some gains and possibly get less inverted or maybe even to a straddle. These were sold against 121 strike puts…
Bought to Close GLD JUL 21 2017 113.0 Calls @ 3.65 (sold for 4.40)
TLT
#PerpetualRollingStrangles – Again…
Bought to Close TLT JUN 30 2017 126.0 Puts @ .04 (sold for 1.00)
Sold TLT JUL 21 2017 127.5 Puts @ .95
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.
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
GLD getting there
#PerpetualRollingStrangles – Been rolling 120.5/113 inverted forever waiting for one side to expire. Got a chance on the put side this week. Go baby go! Then roll the calls out to a new strangle. Probably still inverted but finally get to book premium on the 120.5’s….maybe. Big move in gold back above the 200ma for now.
TLT adjustment
#PerpetualRollingStrangles – Selling some and rolling some…
Sold TLT JUN 2 2017 121.5 Calls @ .53
Rolled May 19th 123.5 puts to Jun 9th 123.0 @ even
#xle btc may 26, /65.5…
#xle
btc may 26, /65.5 and 67 put @ .25 and .53 /sold for .85 and 1.07
btc may 19, 65 put @ .06 sold for .18
all on up swing of xle to release capitol and reload on down swing.
TLT
#PerpetualRollingStrangles – Somehow got a partial fill on this right at the open…LOL
Bought to Close TLT MAY 12 2017 121.5 Calls @ .05 (sold for .75)
Looking to re-deploy out a couple weeks….
TLT
#PerpetualRollingStrangles – A couple small adjustments to keep the theta up…
Bought to Close TLT MAY 19 2017 124.0 Calls @ .09 (sold for .96)
Sold TLT MAY 26 2017 121.5 Calls @ .60
# experiment and more thoughts…
- experiment and more thoughts on efficiency of capital.
So a few weeks into the options income blueprint. One of the things they recommend is higher $ return on covered calls vs. selling puts. In looking at the numbers may be right in terms of absolute dollars. However on a percentage basis selling puts is higher.
Example, buy write on TSO right now with stock at 79.3, you could do 10 lot on next weeks 77 strike and the call you would make $980 and on the put only $810. So in absolute terms make $170 more on the buy write than the put write. Looking at most stockso this seems to be true, even more with names that are skewing to the upside and the calls are more expensive than the equal distant puts.
Now on a percentage basis, the put writing is better but on an absolute basis make more with the buy writes. Maybe better to write puts on margin and buy writes in retirement accounts.
I used to trade deep ITM covered calls 3 months out. Gave good protection 10-20% but found theta decay to be slower than paint drying. However, was successful.
Thoughts? Any of you doing ITM covered call on a weekly basis?
TLT adjustment
Possibly my favorite #PerpetualRollingStrangles …
Rolled this week’s 123.5 puts out to May monthly 123.5 @ .38 credit.
Paired with many calls near the same strike out over the next few weeks.
GLD rolled
#PerpetualRollingStrangles – Another roll. They add up over time…
Rolled this week’s 120.5/113.0 inverted strangles to May monthly same strikes @ .55 credit.
Came close to getting out of the 120.5 puts but she reversed too soon…
EWW
#PerpetualRollingStrangles – Replacing this week’s…
Sold EWW MAY 26 2017 51.5 Puts @ .75
FXE
A new ticker I’m adding. Super low margin with decent liquidity and premium…
Sold FXE MAY 19 2017 101.0/107.0 Strangles @ 1.02
Joining TLT, GLD, EWW in my #PerpetualRollingStrangles experiment…
TLT adjustment
Rolled Apr 28th 119.5 calls to Jun 120 monthlies @ .10 credit
Rolled Apr 28th 119.0 calls to Jul 120 monthlies @ .02 credit
Replacing a fairly sizable expiration this week with next week’s:
Sold TLT APR 28 2017 123.5 Puts @ .82
TLT adjustment
#PerpetualRollingStrangles – Collecting some more nice weekly dividends…
Rolled Apr 13th 119.5 calls to May 5th 120.0 @ .09 credit
Rolled Apr 13th 121.5 puts to Apr 21st 122.0 @ .76 credit
Rolled Apr 13th 122.0 puts to Apr 21st 123.0 @ .92 credit
And to add a few more long deltas I’m pulling the May monthly puts in and up a little:
Bought to Close TLT MAY 19 2017 116.0 Puts @ .32 (sold for .69)
Sold TLT APR 21 2017 123.5 Puts @ 1.53
TLT
#PerpetualRollingStrangles – This week’s 119.5 puts looking safe so selling more and rolling calls.
Rolled this week’s 119.5 calls to May 5th 120.5’s @ even
And:
Sold TLT APR 13 2017 121.5 Puts @ .82
Sold TLT APR 13 2017 122.0 Puts @ 1.08
TLT
#PerpetualRollingStrangles – Liking these so much I’m increasing the position size a little…
Sold TLT MAY 19 2017 116.0/124.0 Strangles @ 1.65
Rolled GLD
#PerpetualRollingStrangles – Yesterday…didn’t have time to post. More weekly dividends in a long term position. Almost 6 months into the GLD TLT “perpetual” experiment. I’ll try to get an update together. So far though, very low margin to carry these positions and estimating at least a 2-300 percent return on margin required. Now that’s a dividend!
Rolled GLD 120.5/113 inverted out to Apr 7th @ .47 credit.
TLT
#PerpetualRollingStrangles – Next week’s 120 and 121’s looking pretty safe so adding a couple weeks out.
Sold TLT MAR 31 2017 118.5 Calls @ .84
Sold TLT MAR 31 2017 119.0 Calls @ .67
Sold TLT MAR 31 2017 119.5 Calls @ .54
TLT adjustment
#PerpetualRollingStrangles – Working all morning but got a couple fills…
Replacing this week’s expiration:
Sold TLT MAR 24 2017 119.0 Calls @ .63
And:
Rolled this week’s 119.5 puts out to March 24th 119.0 @ .02 credit
TLT roll
#PerpetualRollingStrangles – Hoping for a bigger bounce in this thing but not really following through. Take what I can get…
Rolled 119.5 puts to next week’s 119.5 puts @ .48 credit. Just for fun here’s my current positions in this experiment:
(4) March 10th 119.5 puts
(4) March 10th 120 calls
(3) March 17th 120 calls
(3) March 17th 121 calls
(6) June 16th 132 puts
This results in a long delta position of 527 but if you remove the DITM June puts it’s a -34 delta. While waiting for TLT to recover I’m able to roll the DITM June puts out 3 months and down one strike for about even. Can continue doing that forever while trading aggressively underneath it. Overall working pretty good in spite of starting this just prior to the implosion.
Total premium received since the beginning (October 2016) : 81.53 points
Decent return on 6300 margin and what was a one third size position for the first 3 months of the experiment.
Rolled GLD
#PerpetualRollingStrangles – No time value left in these so rolling and collecting additional premium.
Rolled this week’s 120.5/113 inverted strangles out two weeks for .54 credit.
Position is now March 17 monthly 120.5/113.0 inverted @ 6.05 credit.
TLT
#PerpetualRollingStrangles – Another little weekly dividend…
Bought to Close TLT MAR 3 2017 122.5 Calls @ .01 (sold for .30)
Sold TLT MAR 10 2017 120.0 Calls @ .62
TLT
#PerpetualRollingStrangles – Booking a winner with TLT reversing. Looking to re-center and re-sell at some point.
Bought to Close TLT MAR 10 2017 116.0/122.0 Strangles @ .90 (sold for 1.31)
TLT
#PerpetualRollingStrangles – Replacing this week’s expirations…
Sold TLT FEB 24 2017 119.5 Calls @ .59
Sold TLT FEB 24 2017 120.0 Calls @ .41
Rolled Gold (GLD)
#PerpetualRollingStrangles – Stuck right in between the inverted strikes. I’ll roll and collect more premium while leaving the strikes alone. At some point one side will expire.
Rolled this week’s 119/113 inverted strangles to Mar 3rd @ .60 credit
TLT rolls
#PerpetualRollingStrangles – Doesn’t look like much but adds up over time…
Rolled this week’s 119.5 calls to next week’s 120.0 @ .07 credit
Rolled this week’s 120.5 calls to next week’s 121.0 @ .38 credit
TLT
#PerpetualRollingStrangles #ShortStrangles – Enjoy this position so much I’m increasing the size a little.
Sold TLT MAR 10 2017 116.0/122.0 Strangles @ 1.31
TLT
#PerpetualRollingStrangles – Replacing this week’s expiration.
Sold TLT FEB 10 2017 119.5 Calls @ .69
TLT
#PerpetualRollingStrangles – Selling another week..
Bought to Close TLT FEB 3 2017 123.0 Calls @ .08 (sold for .74)
Sold TLT FEB 10 2017 120.5 Calls @ .60
TLT
#PerpetualRollingStrangles – A couple minor adjustments…still selling against March DITM puts.
Rolled this week’s 119.0 calls out to Feb 3rd 119.5 @ even
Sold TLT FEB 3 2017 123.0 Calls @ .74
WYNN
#PerpetualRollingStrangles #CoveredCalls – Rolled 88.5 calls out out to next week’s 89.5 @ even.
TLT
#PerpetualRollingStrangles – Rolling back over now so selling the rest of the short call position.
Sold TLT JAN 20 2017 123.0 Calls @ .60
Options Bistro 