Covered Calls

#PieTrades. Sold $OLED Aug 24th 122 call for 1.65
#CoveredCallCampaign Closed on GTC order: $FB Aug 24th 190 call for .15. Sold for 1.35.

#rolling With the drop yesterday…

#rolling

With the drop yesterday can pretty much roll everything instead of letting call out or assign. Bad few weeks for MU and WDC down 11 and 14% respectively. They were converted to #fuzzies so a little easier to manage now but this is the only account showing a drop.

New trade STO SQ next week 70 put for 0.95.

MU 55 leap 50 call rolled a yesterday dropping cost basis to 11.26

WDC 60 leap 65 call rolled yesterday dropping cb to 18.01

EOG 115 put 36 DTE was challenged yesterday. Cost basis 113.2 if assigned.

This made me realize an easier way to manage deep ITM #pietrades is to convert it to a put leap #fuzzy. Takes out the margin requirement. If keeps dropping can manage it to a put diagonal. If reverses can either add a call side or keep rolling the put up. As you do that the margin requirement will increase but still much less than naked puts. If I had done this with MU and WDC instead of converting to the call side I would be making $ now. With any leap strategy, the short option strike is what determines the profit loss at the expiration of the short option. Going forward I think this will be my preferred strategy but only for deep ITM puts (5 points or more). Otherwise will manage as a regular weekly #pietrade.

SPX hedge rolled next week 2550 short put out to 15 DTE for 0.6 credit. Hedge only costs 1.2 now and if we head to 2550 will still make 12k. Hope I don’t need it. Next month will use back ratio or risk twist.

TQQQ batch 1 65 cc expires tomorrow rolled to next week for 0.9 credit. cb now 62.98.
TQQQ batch 2 65 cc expires tomorrow rolled to next week for 0.9 credit. Cb now 63.23

AMAT batch 1 47 cc rolled out 2 weeks for 0.33. Cb 48.91. Few more weeks to cover it.
AMAT batch 2 47 cc rolled out 2 weeks for 0.31 credit. Cb now 45.88 and if I can’t get more than 0.5 on next roll will let it assign and move to another #pietrade

#fuzzy XBI 87 and 95 leaps with rolled the 96 and 96.5 short calls down to 95 for 15 DTE for 1.1 and 10.6 credits. Cb now 7.52 and 4.04 as they were separate batches.

TOS calculates diagonals weird. They are all showing a loss on the graph but nearly 20% reduction in cost in 1 month so make sure you keep track of your cost basis. In the end that is all that really matters with any trade.

Hope everyone is having a good week. Not much to do until next week now. At least I tripled my theta decay with all the rolls.

AMAT call closed

#PieTrades #Earnings.
BTC $AMAT Aug 17th 46.5 #CoveredCall for 1.97. Sold for 3.56 last week as a roll. Leaving my stock alone for earnings report tonight.

#leaps

Wednesday Trades

#Earnings #Rolling Sold $TSLA Aug 24th 332.5/340 strangles for 18.60.

#CoveredCallCampaign Stopped $FB Aug 31st 180 puts for 3.40. Sold Sep 7th 172.5/187.5 #StrangleRoll for 3.07.

#ContangoETFs Stopped $GUSH Dec 32 put for 6.20. Sold for 5.05 in a strangle-roll months ago.
#StrangleRoll: Sold GUSH Dec 21/45 strangles x2 for 3.87.
Also, closed GUSH Sep 62 call for .10. Sold for 1.60.

#PieTrades BTC $OLED Aug 17th 120 call for .20. Sold for 2.00 on Friday.
BTC $MU Aug 24th 53 call for .10. Sold for .85 on Monday.

New tool. Not advertising here…

New tool. Not advertising here but works well in chop. Not going full directional like @fibwizard but I think this will help with my #pietrades by pointing out the actual pivots in real time. I just can’t make it work for me because of schedule, wish I could I know there is money to be made there. So I need something that does it for me. Alphashark calls it the tide trader or something like that. Uses a combination of volume, momentum, oscillator (can’t figure out which one but I think RSI looking at the math) and ATR so it is a Frankenstein indicator. However, it already helped me to hedge my SPX hedge as I saw the reversal. Takes some adjusting to each name. You have to figure out which ATR works best for what you are trading or you get too many or not enough signals. On /es and most stocks a setting of 2 is god but NFLX/AMZN take 10s. Default is 0.5 and just too many signals.

Special is $259 but I don’t know how long. An upper indicator, the big arrows and a lower. Increasing green wave go long. Purple dot possible reversal point. Increasing red wave short. Can change it for any time frame. Easy enough even I cannot miss the signal. Only traded with it 2 times so far but is helping recover MU and WDC positions by letting me sell options closer to the money.

Will update as I use it.

2017-12-01-TOS_CHARTS

Trades

Catching up on posting from the last 7 days…

TODAY (Monday)
#CoveredCallCampaign
Sold $AAPL Aug 24th 202.5 #CoveredCalls for 7.00. This replaces the Aug 17th 202.5 calls I closed last week for 7.40, to avoid being called away on the ex-div date. I’m rolling ITM calls after earnings trade got breached.
Sold $SQ Aug 24th 76 call for 1.25, and Aug 31st 76 calls for 1.23

#SyntheticCoveredCalls
Sold $PYPL Aug 31st 90 calls for 1.10. A roll-up from Aug 24th 87.5 calls stopped last week.

#PieTrades
Sold $MU Aug 24th 53 covered call for .85. #PieTrades

LAST WEEK
#Rolling #StrangleRoll $TSLA Aug 17th 332.5 calls to Aug 17th 332.5/335 strangles for .65 credit. Will roll soon to avoid early assignment.

#Earnings Bought $YELP Aug 10th 38.5 #LongStraddles for 4.94. Sold the calls next day for 9.95. This trade usually works on YELP.

Stopped $FB Aug 24th 187.5 covered calls for 3.85. Rolled to Aug 31st 180/195 strangles for 3.83. Looks like I got stopped at the top. #CoveredCallCampaign.

#PieTrades Rolled $AMAT Aug 10th 46.5 covered call to Aug 17th 46.5 for .30 credit.

#VXXGame Closed $VXX Sep 21st 50 call for .46. Sold for 5.65 on April 17th.

#pietrades and trying to get…

#pietrades and trying to get some theta decay back, almost went negative on the core account.

New trades
TQQQ lot 1 65 cc expires this Friday for 63.88.
TQQQ lot 2 65 cc expires this week for 64.13.

SPX hedge, STO some 11 DTE 2550 puts to offset the decay loss on the long hedge. Sold for 1.1 dropping cost basis to 1.80. Should also be able sneak in another sale and then roll as calendar, back ratio, or risk twist. Still playing around with the most efficient hedge.

Sea of red in my core account (of course the most important one) but the other accounts theta is doing its job. After I clear out the WDC, MU earnings drops will be moving more toward ETFs to limit some of the single stock risk that keeps being affected by tweets. SMH will give coverage to that sector with decent premiums.

Not going full directional or advertising for them but alphashark has a new tool that picks up reversals very well. Currently it is $259, increases to 999 soon. Installed it last night. Have to adjust settings based on ATRs but seems like it works well. Seems to nail the reversal within a half bar on any time frame. Added it to some of my other indicators and will post some trades with it after I use it for a while and figure out the settings.