#pietrade 1 roll today, otherwise…


1 roll today, otherwise letting everything else assign/close/expire worthless and will re-load Monday.

TNA today 69 CC rolled to next week for 0.94 credit. Took advantage of the weakness to load more cash. Cost basis now 66.63.


#LongCalls #LEAPS – My newest 2020 position that’s just getting started…

Bought to Close SMH APR 20 2018 106.5 Calls @ .05 (sold for .72)

Sold SMH MAY 4 2018 104.0 Calls @ 1.33


#pietrade STO 4 DTE FAS…


STO 4 DTE FAS 62 put at 0.73. Will take assignment if below or roll if not.

SQ….Getting back into this one…BTO…

SQ….Getting back into this one…BTO Jan 20 47 calls….need 0.15 per week to cover…STO next weeks 51 call for 0.35….#longcalls #leaps #syntheticstock


Synthetic Thoughts

FWIW…just some random things going through my mind (scary, I know!) concerning these longer term positions I’ve been trading.

1. If the stock implodes just after setting the trade the overall position will show a big loss initially. As time goes by, further drops won’t be quite as extreme.

2. What will a synthetic look like at expiration if it’s sitting at max loss? Correct me if I’m wrong:

Long call will be at zero and the short put and disaster put will be showing a loss equal to their width.

3. By using 2 above, I can calculate how much more possible downside is sitting in the current position….if you want to assume the worst that we wake up tomorrow and the market has sold off so far that all synthetics immediately go to max loss…and can my account handle that?

4. How would I handle a worse case scenario whipsaw near the end of the trade that results in the weekly short calls being well in the money but below the core at expiration? Chances are if it gets to that point there’s a ton of profit realized already. I could take the loss on the short calls and move on down the road or…what I would probably do is roll the calls up and out and set up a new synthetic and start all over since the stock could be recovering at this point.

5. I’ve looked around online and there are lots of sites talking about the LEAP diagonals but most only concern themselves with just selling monthlies and if you’re wrong on the direction to just take the losses and look for something else. Can’t find anyone talking about selling weekly for the entire duration and the profit potential of that. Maybe I’m missing something…

Good luck everyone!


#pietrade XBI selling into weakness,…


XBI selling into weakness, 22 DTE 81 put for 1.02.

BTC the ANDV 22 DTE 93 put for 0.35, sold for 1.1 or so off multiple rolls. My cost basis was 90.78 so I had a lot of built up credit. Reload on a pull back.

#shortputs AMAT Sold April 20,…

#shortputs AMAT

Sold April 20, 50 put for .76