RHT is down about 12% in after-hours trading.
MED down 12%
STMP down 10%
TUP down 9%
SHOP had a pullback of 4%
MU STO 59.5 put at 1.06 for next week.
Last trade until next week.
One more note on #pietrades. I have moved 60-80% of my portfolio to true #pietrades. 20-35% is one time opportunities and usually a #pietrade type scalp or earnings play or a #fuzzy, and 5% true speculative. I am trying to create and income replacement machine and seems to be working. Just need to avoid big losses like SVXY.
When the market gives you a gift early, take it an don’t ask questions so rolling/closing early and set up new trades.
Ok, so after #pietrades for 15 months straight here is what I have figured out works the best. Need a little bit of timing and a directional bias. Personally use the 4 hour chart as that seems to correlate well with the next week.
Higher premiums = easier to manage.
I am moving towards more ETFs as it gets rid of some of the single stock risk.
My current bull pen has contracted dramatically. Here is what I am trading and only about 3-6 on an every week basis, others are more weekly scalps.
True weeklies: AAPL, EOG, EXPE, IBB, XBI, LABU, FAS, TQQQ, TNA, UPRO, WDC, AMAT, SMH. Even with these I will try to time and do not trade every one every week.
All the others I trade are set up like #pietrades but they may only run a week or 2 depending on movement. LABU is on hold until a pull back. Up 25% in 3 weeks and I am not going to chase it but great premiums and will re-enter when we have even a little pull back. It was in the 80s 3 weeks ago, hit 112 today.
BTC LABU 96 and 92.5 puts for 0.1, 0.15 and 0.15 across 3 accounts.
EOG STO the next week 115 put for 1.1. Plan to trade this true #pietrade week to week. Has stabolized now that oil is in a range again.
WDC STO next week 78.5 put for 1.13 same as above but its range is now 78-87.5 or so.
FAS STO next week 66 p for 1.18 and will roll week to week.
STO TQQQ next week 61 p for 1.05 same.
Old trades still on
AMAT 51 CC rolled to 49 next week for 0.69 credit. Cost basis 51.54. Few more weeks and should be able to cover the earnings drop.
AMAT 50.5 cc rolled to next week 49 for 0.64 credit. Cost basis now 48.42 so will probably let is close and start over or use a different ticker.
Total income $3147 for the week so not a bad weekly pay check for a vacation week. Now go sit on my hands at the beach, actually can’t sit still that long. Will surf, SUP, kiteboard, windsurf, bike, depending on weather 🙂
Have a great week!
LABU 92.5 puts rolled to next week 93, 96 for varying credits of 1.5, 1.03, 1.00.
AMAT 50.5 CC rolled to next week for 0.5 credit. Cost basis now 49.06.
AMAT 51 CC rolled to next week for 0.46. Cost basis 52.23, this is the batch that went against us on the earnings trade. Another 4-6 weeks to scratch it.
That’s all for this week, have a good weekend. Sitting on my hands until next Thurs but on vacation and staying around here so if there are opportunities may trade before then. Vacation starts with Imagine Dragons concert on Sat. in Hershey PA!
Have a great week 🙂
Yesterday I posted a plan for SPY with ex-div tomorrow. The plan involved the assignment of all my #Saf-T SPY shares, then replacing those with short puts for tomorrow expiration….which happen to have the div already priced in, along w/ a little premium.
As it turns out I had about 1000 shares called, but most of my short calls for last night’s expiration expired for full profit.
So I sold tomorrow’s 279 puts to replace the 1000 shares that were called yesterday, at $1.65.
Unless the market goes bonkers tomorrow, this is a guaranteed assignment due to the SPY price action on ex-div day (a $1.10 drop in price is guaranteed).
I have also done the required long put coverage for #Saf-T trades, buying Jul 27 276 puts.
So, for tomorrow: 1. I collect SPY dividend on 2000 shares, $2200 (pay date is actually next friday I think). 2. I collect the put premium on 10 puts $1650. 3. I take assignment of 1000 shares @ 277.35 (adjusted). 4. I can re-commence selling weekly premium on the shares.
BTC 6/15 37 Put 0.05. STO 6/7 0.79 #pietrade