BTO 2020, 84.78 calls @ 27.15, and sold June 29, 85 calls @ 8.20 for a net of 18.95, so need .31 cents per week to break even. Great premium.
Tag Archives: pietrade
AMAT already back up 3%…
AMAT already back up 3% which is what usually happens with the big sell offs, CELG being the exception. Anyway waiting for tos updates to load so I can find a trade but may wait until lunch time to see where we are.
#pietrade Guess my first attempt…
#pietrade Guess my first attempt with AMAT is off to a bad start… Am getting ready to sell calls
Done sitting on my hands,…
Done sitting on my hands, theta did it’s thing.
#pietrades
MAR 139 put expires tomorrow rolled out to next week for 0.81 credit. Cb now 137.08 if assigned.
GM CC expires in 3 weeks 37.5 cb 37.72 but if ITM good bye finally. That will be 22 weeks in the trade to almost scratch it. The money will be put to better use somewhere else!
BTC MU 52.5 put for 0.04 sold for 0.63
STO LABU 85 put at 1.45. cb 83.55 if assigned 8 DTE
STO LABU 85 put at 1.2. Cb 83.8 if assigned 8 DTE
AMAT 55 put should be assigned tomorrow at 54.02 cost basis. Will flip to CC on Monday.
BTC AAL 42 put at 0.04 sold for 0.53
AMAT 52.5 put should expire tomorrow, cost basis 50.80 even if assigned. Reload monday.
#spycraft 22 DTE PCS at 265/262 was sold for 0.24. Just waiting another 1-2 weeks for some decay to erode it then will roll it.
Will only have 2 trades for Monday, then sit on my hands again until Thurs or Fri depending on what the market gives us.
Raining here but still going out to bike, have a good expiration!
Found a few for the…
Found a few for the weekly #pietrades that expire this Friday.
BTC IBB 104.5 puts for 0.25. Sold Friday for 1.15, thanks mr market
#spycraft SPY 25 DTE 265/262 put credit spread for 0.24. Waiting on call side until the manic buying stops.
STO AAL 42.5 puts 4 DTE for 0.53 credit. Cb 41.97 as long as @fuzzballl stays off the throttles, fly slow!
STO MAR 4 DTE 139 puts at 1.1 for cb 137.9 if assigned.
GM 38 CC 2 weeks rolled out 25 dte to 37.5 for 0.32 credit. Cost basis 37.72 and if it is above 37.5 they can have it. Just want the cash out so can trade other tickers.
STO MU 4 DTE 52.5 put for 0.86 cb 51.87 if assigned.
STO 4 DTE AMAT 55 put for 0.98. Cb 54.02 if assigned.
Usually not that active on a Monday but had a ton of expirations on Friday and since IBB gave me a gift was able to double down on MAR doubling my usual cash income 🙂
Now I sit on my hands until Thurs. or Friday.
Everything looks overcooked at the…
Everything looks overcooked at the moment except the biotechs and some of the chips. You guys were busy yesterday, I was at the beach. Last week we need wetsuits, water warming up quickly!
#pietrades, #optionsexpiration, and assigned early
Expiring today or assigned early:
TNA 69 cc cost basis 64.87 and was assigned early so get to redeploy that capital early-thanks mr market
FAS 61 CC at 56.36 cb
FAS 61 CC at 59.31 cb and will reload this account Monday
FAS 61 cc at 53.91 cb and will reload something on Monday
FAS 63 CC at 60.53 cb and 100 shares at 63.14 so a minor loss but overall this account was profitable and will reload on Monday.
XME 35 CC at cb of 34.44 and will reload Monday. This is a tiny account now from the SVXY losses.
#pietrade rolls:
AMAT 49 put rolled up to 52.5 put for 0.53 credit. Total credit now 1.7 and if assigned cost basis 50.8
#pietrade new position starter
IBB 104.5 put at 1.15 credit so 103.35 cb if assigned and would take it there
malingerers
GM 38 CC at cost basis of 38.04 expires in 14 days. I will gladly get rid of it at a 0.04 loss just so I can use the $ somewhere else. This is week 17 of this trade, just stuck and this one sucks for #pietrades, it is off the list until the premiums double. Anyone else trading this one with me it is getting taken out of the rotation.
Additional trading thoughts now that I finally have all the SVXY cleared out from the Feb 6 losses and can finally use all 6 trading accounts again.
1. Capital preservation is key. Now that I have had 3 account blowing out losses, at age 45 and 47 realize I cannot afford to lose my capital base again, it is the only way I can replace my income.
2. Keeping segregated accounts that trade different tickers is ideal. This time SVXY only took out 2 accounts and small portions of 2 others. Had I not been diversified it would have been ugly and I would be working 7 days a week in the office and urgent care or ER just to try to make some back. Spread out the trading vehicles and even accounts, may save your bacon someday.
3. Trading for income is a great way to trade. Trading for extreme income and weekly is even better. Most of my losing trades can be converted to winners or break even by always bring in cash. Cash up front is easier to manage than trying to convert a losing directional trade.
4. #pietrades will make up the majority of my trades with some #supercharger s thrown in for the small accounts
5. Even with income trading you can target 50-100% annualized returns if you do it right. Guess we can call it extreme income trading!
6. Trading with the group has really helped my consistency. Thanks Bistro’ers 🙂 🙂
Hope everyone has a good expiration and Happy Mother’s Day!
Will have some trades ready for Monday morning.
One last announcement, we are still working out the details but I have had such good results with the #pietrades that I have been asked to become a contributor to the Options Income Blueprint service. Will keep you posted. It is mostly as a live and ongoing case study. I will not actually be sending out the recommendations, just how I am managing them live.
#PieTrades with the LMT ex…
#PieTrades with the LMT ex div approaching in a few weeks, I’m adapting the Pie Trades for assignment. Rather than sell puts, I’m selling 1×2 put ratios just to get a tad more downside. This week’s trade covered today for 78% profit. Opened a new one for next week (May11): +1 307.5 put, -2 305 put for net cr 2.06, BE is $300.44.
#optionsexpiration, early assignments, rolls, closed…
#optionsexpiration, early assignments, rolls, closed and new trades
BTC AAPL 160 put 1 DTE for 0.02. Sold for 2.18 on earnings play 🙂
TNA 69 CC rolled for 0.85 credit. Cost basis now 64.87.
TNA 55/60 #supercharger. Assigned early on the 60 so exercised the 55 to close everything out as I was short 1000 shares at 60. There were a few cents of time value left in the long call but was going to be a pain to buy back the short stock then sell the long call, although that would have resulted in full profit. Anyway made $630 total on a 10 lot or 12.3% in 14 days as it was assigned a week early. Will take it 🙂
I will be doing a lot more of these going forward but do not have any today.
The FAS trades all expired tomorrow and rolled to next week #pietrade style.
FAS 65 CC rolled to 61CC for 1.56 credit. CB now 56.36. The good premiums add up on the leveraged names and really reduce cost basis quickly. I will continue to trade many of these but may flip to bears if we really start tanking.
FAS 65 CC rolled to 61 cc for 1.56 credit. Cost basis on this batch 59.31.
FAS 65 CCrolled to 61 for 1.83 credit. Cost basis 53.91. This batch has been around the longest.
FAS 65 cc rolled to 63 for 0.80 credit. Cost basis 60.53.
FAS 65 cc rolled to 63 for 0.80 credit. Cost basis 63.14 so if assigned a $14 loss on each contract but will keep rolling. This was the most recent addition.
#supercharger AAPL 145/150 14 DTE closed for credit of 4.97, bought for 4.33 debit. Nearly full profit 2 weeks early 🙂
#pietrade STO XME 35 CC for 34.44. Roll or call out next week.
AMAT 49 put rolled to 49.5 next week for 0.60 credit. Cost basis now 48.83 and brought in 1.17 credit in 2 weeks.
We went from winter to summer, going for bike ride. Hope everyone has a good expiration. Will look for new #supercharger trades over the weekend.
I am going to be using more ETFs with the #pietrades as the volatility is putting individual names under water and taking too long to recover, GM dropped again today. As soon as I can close it out at even it is off the #pietrade list.
🙂
SMH
#LongCalls #LEAPS – Selling next week at the overhead 200ma resistance…
Bought to Close SMH MAY 4 2018 100.0 Calls @ .05 (sold for .71)
Sold SMH MAY 11 2018 98.5 Calls @ .84
ERX #PIETrade #ShortPuts All righty….
ERX #PIETrade #ShortPuts All righty. Trying again at controlling my emotions through gaining experience. I sold ERX May 4th 35 Put at .50. I will take assignment or roll if advantageous.
#PIETrade #Shortputs OIH Sold May…
#PIETrade #Shortputs OIH Sold May 4th 27 Put @ .26. Will take assignment
FAS #PIETrade Bought to close…
FAS #PIETrade Bought to close May 4th 66 Covered Call @ .15. Sold yesterday @ 1.02.
Thoughts on leveraged tickers.
Benefits:
The premiums are huge, easier to roll than some of my #pietrade names
Because it is an ETF like @jsd501 mentioned one company going bankrupt or merging is not going to destroy the ETF it will still be there.
Most are fairly liquid.
Can take a directional bet if you are into that kind of trading 🙂
Can use them to move into and out of sectors
Risks:
Leverage cuts both ways
Looking at how most are structured do not think we will have an XIV/SVXY occurrence but several have had reverse splits. Need to pay attention to potential reverse splits.
A rapid move may take some time to recover.
Some move a lot more than others, TQQQ for example moves more than TNA.
Margin requirements are stricter. TOS requires full cash value when calculating margin. Don’t know if it is different for portfolio margin.
So far the moves have been more manageable with these than some of my #pietrades. I would not load the boat on them, but see this as a viable option to single tickers to get better premiums and easy rolling.
Thoughts, others seeing something with risk that I may have missed? Anyone found any others I have missed?
Currently using ERX, FAS, TNA, TQQQ, UPRO, UDOW, LABU (many reverse splits), BIB (no weeklies 😦 ), UYG same, UCO, UBIO no weekly, SOXL no weekly.
Anybody found others wiht decent option volume?
#pietrade Rolled GM 14 DTE…
Rolled GM 14 DTE 38.5 CC down to 38 24 DTE for 0.23 credit. Cost basis now 37.81 after 15-16 weeks of rolling. Like an old car this trade just won’t die. I am just targeting a break even on this so I can use the capital somewhere else but I suspect will still be rolling this in the summer.
Take GM off the #pietrade list for a while, moves more than the premiums allow you to adjust.
#pietrade STO the 4 DTE…
STO the 4 DTE AMAT 49 put at 0.57 when it was trading at 49.72.
Looks like this and the other semiconductors are finding a bottom.
#pietrade and triple leveraged addition….
#pietrade and triple leveraged addition.
LABU like xbi/ibb on speed!
Good premiums but would need to work the order, spreads are .20 wide.
#pietrades I was planning on…
I was planning on letting this get called out tomorrow but since the premiums are there for the rolls I will take the cash.
TNA rolled this week 69 CC to next for 0.91 credit. Cost basis now 65.72 so I have some room to play with.
GM this week 38.5 CC rolled out 2 weeks for 0.29 credit. Cost basis 38.04. Just can’t seem to get rid of this one, want it gone to free up the capital for other uses. I think I am on week 14 roll now and still have not scratched it. At this point, I refuse to take a loss, just keep rolling down and out until it is eventually scratched. Taking this off the #pietrade list, moves around more than the option premium allows.
I will either a) have a lot expiring tomorrow or b) rolling a lot depending on how the premiums look at the open. Either way I will book profits or add cash, last few weeks have been great for padding cash into trades and now time to reap the profits.
XBI FUZZY
Closed the 2020 Fuzzy trade @12.30, for a profit of .47 cents. I Just did not like this trade.
BTC April 27, 93 call,
STC 2020, 88call
BTC 2020, 88 put
STC 2020, 86 put
TNA
#LongCalls #LEAPS – I can’t help myself. Been wanting in this one for awhile. I did hold back and only do a half position just in case. Going out to 2020…
Bought TNA JAN 17 2020 70.0 Calls @ 17.22
90 weeks to run so needing 19 cents per week to cover. That shouldn’t be too much of a problem.
So:
Sold TNA MAY 4 2018 72.0 Calls @ 1.23
#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.
SMH
#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
#pietrade BTC the ANDV 108…
BTC the ANDV 108 call 15 DTE for 0.25. Sold for .95. Part of a strangle. Leaving the 95 put on still has .70 left.
When I roll the put will convert to #jadelizard. I violated my own rule of selling naked calls on individual names as a recovery for the dip(s). Strangles on ETF’s and indexes are ok because the entire ETF will not be bought out by another company. I had to pay up when Berkshire bought heinz a few years ago so learned my lesson on uncovered calls on a single company. Will unwind UTX and NSC calls as soon as they decay a little, hopefully over the long weekend.
#pietrades A bunch today since…
#pietrades A bunch today since this is effectively expiration day. But it is nice out, first day can wear shorts here so going outside as soon as all the trades execute, still working 1 order.
GM Rolled 38.5 CC 22 DTE to 29 DTE for 0.17 credit. CB now 38.33. Taking forever to work this one back, will just be happy to scratch it so I can use the money somewhere else. For those following, I am taking this off the #pietrade list for a while, weekly premiums are not good enough for as much as it is moving around and to prone to steel tariff tweets.
FAS today 65 CC to next week 64 CC for 1.58 credit. CB 62.07
FAS today 64 CC to next week for 1.59 credit. CB 61.11
LNG Apr. 6 to Apr. 13 55 CC down to 54 CC for 0.52 credit. CB 53.27
ANDV 95/108 15 DTE strangle looking good, probably roll Monday to new week but #jadelizard the call side.
ERX 21/26 long debit 8 DTE should expire for full profit next week. If for some reason stays below 26 will convert to #fuzzy. I can add another 9 months to the long call for $3 and can sell $2 in premium each week, kind of a no brainer. However, this is also part of a deep ITM #syntheticcoveredcall experiment so my plan is to actually roll it next week and re-establish the position. On a percentage basis looks like a 13.7% return every month with moderate risk but very little work. Potentially a 160% annualized return so this is worth trying. I think this is what Chuck Hughes does to get some of his high returns. Buy deep ITM call with almost no time value, then sell ITM call that has a decent amount of time value left. Gives 10-20% downside protection and can still make max profit. I will keep one of these running for a while and report the results as it unfolds. Cheaper way to play a CC or #fuzzy maybe.
NSC 131/143 strangle 15 DTE. It moved around so much still at break even. Hope some theta decay will make some profits this weekend. Earnings late April so will only roll the put side.
UTX 122/132 strangle 36 DTE. Had to adjust. Same problem as NSC. Will let some of the premium suck out of it then only roll the put side. Earnings late April or I may #jadelizard both so there is no risk to the upside.
Hoppy Easter as the kids say! Hope everyone has a good long weekend.
I am still showing paper losses from the SVXY implosion. My net liq. keeps going down because of all the adjusting, only 1 positive week since Feb 6 but it was a good one. However, once these all close will have a nice bump finally and the theta decay is huge now, close to 800 per day, just need a few days of not whipsawing so it makes a difference. Once everything closes in 1-3 weeks will at least be positive for March.
Cheers, Chris
FB
If the stock finishes up on the day with the volume, we may have a tradable bottom.
#pietrade UTX widening out the…
UTX widening out the strangle. Rolled the 24 DTE 125/130 strangle out to 38 DTE at 122/132 for 0.36 credit. 5 points wider and more time to manage if needed. I had pulled it in with the drop but now need to give it more room.
#pietrade FAS CC 68 CC…
FAS CC 68 CC expired worthless on Fri. STO the 67 CC with 11 DTE for 0.95. Brings cost basis down to 66.25.
Hope to start taking some profits on the strangles later this week on ANDV, NSC, UTX (whipsaw on this one, I rolled the call down Friday and now rebounding.
GM #pietrade Rolled the 39…
#pietrades New trades FAS 3/30…
New trades
FAS 3/30 expiration 65 CC cost basis 63.65
FAS 3/30 exp. 64 CC cost basis 62.70
LNG 4/6 exp 55 CC cost basis 53.79
Existing position or adjusted
FAS tomorrow 68 CC cost basis 67.20 Will let expire then open ATM on Monday. Still has 1.05 time value in it so being a little greedy sine the market makers are being greedy on the spreads today. Work any orders you are trying to get through.
UTX 29 DTE 125 put cost basis 124.51, watching this one closely and may convert to a #fuzzybear if it keeps going.
ANDV 22 DTE 95 put cost basis of 94.69
ERX 15 DTE 21/26 vertical debit at 25.41. If we drop below 26 will convert to #fuzzy
GM 15 DTE 39 CC cost basis 38.75. Problem child I will be rolling for weeks. Goal is to keep selling right at dropping cost basis just to let it clear out then moving on to another name. This one no longer trading well for #pietrades
NSC 22 DTE 131 put cost basis 129.95. This one will probably replace GM in the rotation.
I am starting to notice something with triple ETFs, they are easier to roll and manage than some individual names because the premiums are so high, especially on the call side. FAS can get about 3 ATM and because of the call skew selling ITM CC gives some downside protection. Don’t load the boat with them but getting 100% annualized returns just by selling weekly ITM CC #pietrade syle.
Hope everyone has a good week. My work has been so busy may only get to trade Thursdays for a while.
#shortputspread SBUX Sold April 20,…
#shortputspread SBUX
Sold April 20, 55/57.50 for .51, idea from Tatsytrade morning 3-mail, maybe become a #pietrade down the road.
Dividend stocks
#Dividends Looking to help my sister with her IRA… she wants decent dividend stocks on which I can also sell #CoveredCalls. Already bought her some $AAPL.
Any other recommendations out there. I’m not too in-touch with the #YieldHogs.
#pietrade Rolled UTX 16 DTE…
Rolled UTX 16 DTE 126 put down to 125 30 DTE for 0.36 credit.
I could take assignment but with the chop plan to stay farther OTM, roll earlier, and only take assignment at what looks like a base or good price.
#pietrade Rolled ANDV 96 put…
Rolled ANDV 96 put 14 DTE out to 29 DTE 95 put for 0.35 credit. Cost basis 94.7 now.
Part of my change in management discussed below. Add credit, move strike farther away and give it some more time for more aggressive management if needed.
DG
#SyntheticStock – Really liking the weekly premium in this thing. Setting up a synthetic out to next Jan.
Bought Jan 2019 95/95/92.5 Synthetic Stock @ 8.90
Max loss of 11.40 with 44 weeks to run so need .26 per week to cover…
So:
Sold DG MAR 23 2018 97.0 Calls @ .80
As for the earnings strangle I’m completely out now for 1.70 (sold for 1.79)
#pietrade STO NSC 30 DTE…
STO NSC 30 DTE 131 put at 1.05. 10 points OTM currently. 5 contracts.
My several rolling tickers in the core accounts are now NSC, UTX, ERX, GM, FAS, ANDV although I may replace GM, it has not been trading as well as it used to.
I have been selling #pietrades into strength, meaning selling the puts on the days the ticker is down a fair amount.
Should have a few more tomorrow, maybe or I might go skiing, season winding down in mid atlantic but still some patches of snow to make a few turns.
#pietrade STO the 16 DTE…
STO the 16 DTE ANDV 96 put at 0.95.
This was my best performer when it was TSO, was reborn as ANDV but was having trouble finding a range after the merger. Looks like it has stabilized and the options are trading with decent volume again.
I am tweaking the #pietrades a little. Account is big enough now to move up to 5 contracts on 3 tickers at a time. Was doing 3 contracts on 4 names but I think reducing the # of tickers will actually improve returns.
#coveredcalls MGM New Tradewise covered…
#coveredcalls MGM
New Tradewise covered call yesterday, buy 100 shares and sell the April 35 call (for .88 today), MGM hovering around 34. Other stocks in their portfolio since I started last summer, MET, CAG, INTC, LB, T, JCI, GSK, CIEN , SYMC, EXC and PFE which was called away when I couldn’t get a fill on a roll.
#shortputs A quick question. I…
#shortputs
A quick question.
I have puts on MCD ITM – Mar 16 $155 originally sold for 0.83
Is it a good time to roll out, or out and down?
Thanks.
$SPXL #PIETrade Taking a shot…
$SPXL #PIETrade Taking a shot at this one Sold the Mar 16th 43 Put at 1.40. Filled with SPXL at 43.45 There are only monthlies on this on so maybe it doesn’t qualify as a true PIETrade.
#pietrade candidates for this week…
#pietrade candidates for this week and have some on as well.
In no particular order, just best ROI I could find on stocks that are not over-extended or at least mid range of their ranges. Most of these expire Friday so only 4-5 DTE.
1. FAS 66 strike CC
2. ERX 25 strike CC
3. WDC 87 CC or put sale your choice. Personally the CC has a little better return.
4 BIB not a true PIE trade, it is 12 DTE but the 56-57 CC are juicy
5. AAL 52.5 CC or put sale. Skew is to the CC side a little.
Already have
6. GM 42.5 and will take assignment Friday for the dividend then sell CC against it.
7. MAR 138 CC
8. NSC 140 CC
If anyone else has any others please post. I will likely trade the WDC or BIB in IRA and the AAL and ERX in the smaller accounts.
#pietrade Rolled GM 42.5 put…
Rolled GM 42.5 put this week to next for 0.33 credit. Cost basis now 39.30 or so may take assignment next week and grab the dividend.
#pietrade candidates for this week…
#pietrade candidates for this week or next 2 depending on how you want to trade in order I see best potential returns. It was hard to find names not way over extended, these are kind of mid range within their ranges.
1. NSC any strike between 136-140 should work. Personally I am going with 136-137 ITM CC or may go ATM depending on how we open tomorrow.
2. MAR slight call skew but puts are still good.
3. LNG same
4. FSLR definite skew to call side but either works.
Personally I am going CC if there is a skew and I do not have a directional bias.
$FCX #PIEtrade Covered my long…
$FCX #PIEtrade Covered my long stock with Mar 02nd 20 Calls for 0.18.
OLED Earnings
#Earnings – Thanks @Jeff for pointing this one out…I almost over looked it. Playing fairly aggressively and skewed bullish. Selling the put side just inside the expected move and the call side at twice the expected move…
Sold OLED FEB 23 2018 145.0/180.0 Strangles @ 4.25
#pietrade BTO ERX 26 CC…
BTO ERX 26 CC 8 DTE for 25.54. $278 income on 6 contracts in IRA.
Forgot earlier, should be assigned on AAL 52.5 CC tomorrow as well. I had cost basis down to 39.75 or so for decent profit in 3-4 weeks.
#pietrade SMH STO the 9…
SMH STO the 9 DTE 103 put at 0.89, 3 contracts so $261 credit.
Trying to collect 900 a week on 3 contracts with 3-4 names. Staying close in the 750-800 range.
#pietrade STO FAS 3 DTE…
STO FAS 3 DTE 69 CC for 68.4. Anyone following this trade really work the order the MM being greedy.
3 contracts, $180 max profit for 3 days or 45% annualized ROI without margin.
Lately with these I am finding better to let be called out and then reset each week. If you roll the option lose a little on the bid-ask spread if ITM. If OTM or ATM roll it to bring in more cash.
#pietrades and skew I have…
#pietrades and skew
I have noticed over the last few weeks that a lot of tickers have one sided skew. Just something else for us to take advantage of and increase returns.
For instance, SPY and all the other indexes seem to have put skew meaning the puts are worth more than the calls. Makes sense, a lot of people are hedging and buying protection. So makes more sense to sell puts on these.
However, a lot of individual names skew to the call side. Even AAPL which drags the rest of the market has a little call skew even in the weeklies. Makes more sense to sell CC or set up #fuzzies on these. Most of the leveraged ETFs skew to the upside/call side.
So going forward the #pietrades will be set up taking advantage of this skew. In a limited back test it looks like it could result in an additional 15-25% returns annualized. Not chump change!
So in the future #pietrades will either be CC, naked puts, or covered straddles depending on direction but also where I see an edge in the put/call skew. However, where I may normally sell a put, I may do an ITM CC if it looks like the skew will give an advantage. Also if I have a strong upside directional bias may set the initial trade up as an ATM covered straddle.
If anyone else finds additional ways to suck more premium out of the market on a weekly basis please post.
Taking advantage of this with synthetics aka #fuzzy may work as well.
SLB
#SyntheticStock – Been looking to get a new one over in the oil patch. Synthetics are pretty diversified so far and this will help even more. I also looked at EOG and HES. Any of them would probably work. Should act as a hedge for my transport (LUV). It’s sitting down in congestion right now but looks to have some upside room.
Jan 2019 67.5/67.5/65 @ 5.35
Max loss: 7.85
48 weeks so need 17 cents average to cover.
#pietrade STO AAL 10 DTE…
STO AAL 10 DTE 52 Calls at 0.54 against 200 shares of stock. Cost basis around 49.75.
#pietrade 2 additional tickers to…
2 additional tickers to add, MRK and PFE. Stable blue chips but with the vol spike they qualify for the 1% per week return on puts/calls 1-2 strikes OTM.
I am sure there are a lot more at the moment but don’t have time to trade until Thurs. unless I figure out what I want to do with all my SVXY shares now. I caught up on the conversations below, maybe better to just take the loss and move on as opposed to hold and potentially see it go to zero/0.
#pietrades AAPL, rolled this week…
AAPL, rolled this week 165 CC to next week for 1 credit. Market makers still be greedy on the spreads. cost basis now 161.
GM rolled this week 42.5 put t next week for 0.25 credit. Cost basis now 40 and pennies, I forgot a calculation last week and too lazy to do it now.
SVXY is going to become a #pietrade as soon as I am assigned some shares. Weeklies trying to get 1 per week but far enough OTM that will not have to cover and will wait until we are back in contango. See discussion below.
Good luck everyone, I am done for the week, going skiing in Maine tomorrow morning.
Hopefully start the SVXY recovery Monday morning!!
UPS #FallingKnife Sold $UPS Jul…
UPS #FallingKnife
Sold $UPS Jul 20 100 puts @ 1.10. May add more if we get some additional move down.
AAPL earnings
#Earnings Thought I was being sharp by selling $AAPL puts a week before earnings. Sold Feb 2nd 175 puts last week for 4.62 (avg price). Not so sharp in the end. I bought some 155 puts for .29 as a safety net.
Today I sold AAPL Feb 2nd 177.5 call for .65. I’ll add another if premium increases. That’s putting me into a very narrow 2.5 point range for ultimate victory, so I most likely will be rolling or taking assignment of something tomorrow.
#pietrade #shortputs UAL Rolled Feb….
#pietrade #shortputs UAL
Rolled Feb. 2, 67.50 put to Feb. 9 for 1.25, a .63 credit, originally sold Jan. 24 for .90
AAPL Earnings
#Earnings – Earlier in the week sold some fairly aggressive puts at 170, 167.5, and 165 bringing in nice premium. Just to make sure I have a reasonable starting point to enter a synthetic stock position if it tanks, I’m using a small portion of the premium received to buy some protection down at a twice the expected move level. I wouldn’t think it would ever go that low but then again I didn’t think I’d be running from hurricane IRMA for 10 days either…LOL Buying a little insurance while the sun is shining… 🙂
Sold 3 puts originally and buying 5 puts here.
Bought AAPL FEB 2 2018 155.0 Puts @ .27
#shortputs SBUX Sold Feb. 16,…
#shortputs SBUX
Sold Feb. 16, 56 put for .55, appears to have bottomed
MU
#Fuzzy – BTC MU Jan26’18 45 calls for 0.02, sold last week for 0.30. My core position is MU Apr’18 45/45/40, paid 0.87. So far have booked 0.85 in premium since opened on 1/02/18. Earnings are March 20. I’m going to leave this unhedged for now, seems like it’s been headed down the runway a bit, hopefully takeoff will be soon??
#shortputs #fallingknife but I’m not…
#shortputs #fallingknife (but I’m not qualified to make the designation) UAL
Sold Feb. 2, 67.50 put for .90. This can quickly become a #pietrade
UNP
Bearish UOA alert…I see lots of calls being thrown around in March. Not sure what’s going on.
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)
#pietrades #coveredcalls #shortputs EXAS Dec….
#pietrades #coveredcalls #shortputs EXAS
Dec. 14 I sold a Jan. 19, 48 put for 1.70. Looked good until Friday afternoon, was assigned. Sold a Jan. 26, 48 call for 1.30, cost basis of 45.. If I wouldn’t have spent the morning in a dental chair I would have done a little better on the call.
#pietrades A few names to…
A few names to add
GLW (corning) for smaller accounts
AXP for medium accounts
QQQ for medium to large accounts
IWM for medium accounts
FSLR for medium accounts
TNA and FAS for medium
ERX for small to medium
SMH for medium
HD for large accounts
TAP for medium (beer money) 🙂
DIS for medium
Anyone else who finds others please post. 3 simple rules, stays in a range, good weekly premiums, and should have weekly options (not a requirement but makes management easier).
#shortputs OKTA
Sold Feb. 16 30 put for 2.00 potential #pietrade
Options Bistro 