#pietrades Did not have time…

#pietrades

Did not have time to post yesterday, work is cutting into my trading profits 😦 but not ready to go full time trader yet.

Anyway, yesterday FAS CC at 65 strike across several accounts. Cost basis 62.47, 56.84, and 59.06 after several weeks of rolling. Nice profits on all if assigned.

Today STO EXPE 104 puts for 3 DTE at 1.70. Earnings on 4/26 but good support at 104 after last drop. CB 102.3 if assigned.

Sitting on my hands rest of the week to let theta work. Will either have a bunch more on Friday or Monday.

Trade smart!

#shortputs #pietrades EWZ Rolled April…

#shortputs #pietrades EWZ

Rolled April 20, 43.50 put to April 27 for .33

#optionsexpiration Did not have time…

#optionsexpiration

Did not have time to post yesterday (it was windy and warm and I had the day off so kiteboard season officially started Thurs).

XBI BTC 81 puts for 0.3 sold for 1.02 last week.

UTX BTc the 21 DTE 122/131 strangle for 2.49. Sold for many rolls for 2.5 so basically a scratch, wanted to free up the capital to use somewhere else. This was just wasting time and had already rolled 3 times and earnings coming up so just wanted out.

NSC btc 14 DTE 127/141 strangle for 2.8. Sold for 3.63 so same situation as UTX, just wanted the money to use somewhere else.

ERX #fuzzy ran away to the upside so closed for a slight profit. I lost track of the math since I had rolled it but bottom line is I gained back a little more than I put in. Closed for 6.6 and I think I had 6.22 in the trade.

FAS this week 64 cc rolled to next week for 1.25 cb 60.63
FAS this week 65 cc rolled next week for 1.2 credit. cb 58.17
FAS this week 67 cc rolled to next week 65 cc for 1.02 cb 64.11

LNG cc assigned at 54 cost basis 53.27.

Opened TNA ATM cc for next week at 69 for 67.55.

A few observations with all the whipsawing in the market. The leveraged products are easier to roll because of the higher premiums. Even though most of the FAS trades were underwater in 2 weeks that are all back to break even or profitable.

The deep ITM vertical debit spreads #supercharger work very well and easy to convert to #fuzzy if they need adjusting.

#pietrades are still my bread and butter but as @fuzzballl pointed out below, I am also moving towards more ETFs than single names. But they have to be on higher volatility names or the premiums are not there. XBI, FAS, ERX, TNA, TQQQ, UPRO, SMH, UDOW, QQQ, SPY, DIA are all trading well at the moment and I will be focusing on the names that work more consistently and actually require less work. My GM trade has taken 8-9 weeks to break even. ERX was down way more and only took 2 weeks of rolls to break even.

Going with the KISS principle going forward. Finally made back 6k of the SVXY losses in those accounts but still a long long way to go 😦

Spring here as well, 60 mile bike with friends this morning now going out to mow the lawn. Hope everyone gets to enjoy the weekend. Have a few trades lined up for Monday but depends on how we ope with Syria news.

#pietrades Did not have time…

#pietrades

Did not have time to post but at lunch converted my UTX short puts and NSC short puts into strangles. Both going into earnings.

Normally I don’t do this on individual names, but trying to stay in some trades just a little longer to let theta do some work. As soon as I have a profit will close and roll down.

STO 24 DTE NSC 141 call for 0.6. Now have 127/141 strangle.
STO 24 DTE UTX 131 call for 0.6. Now have the 122/131 strangle.

I was looking at doing the same with XBI but is tearing to the upside. As soon as momentum shifts will add call side.

#shortputs #pietrades AMAT Rolled April…

#shortputs #pietrades AMAT

Rolled April 20 50 put to May 18 50 put for .94. I’ll be away from the screen next week, moving some positions to May.

#shortput

#pietrades and #supercharger trades Finally…

#pietrades and #supercharger trades

Finally 2 positive weeks in a row despite being assigned on final SVXY 50 puts.

TNA #supercharger 5/18 55/60 for 4.37 debit
ERX #supercharger 4/27 20/25 for 4.55 debit
ERX #fuzzy rolled 8 DTE out to 22 DTE 25.5 for 0.4 credit. Cost basis now 7.82
FAS CC rolled 67 CC expires tomorrow for 8 DTE for 1.12 credit. CB now 65.13
Assigned SVXY 50 put for 48.75, sold for 11.53 ouch but don’t see SVXY moving for a while so unloaded and used what little cash was left in this account for the ERX trade above. Left just enough to convert to a #fuzzy if needed.

#pietrades bunch of FAS, ERX, CC expiring tomorrow. Should all go out at full profit unless there is another stupid tweet.

Also some expiring next week. Will reload the ladders as they expire on Monday.

Hope everyone has a good expiration and is enjoying Mr. Whippy’s the market, not the ice cream shop although it is delicious!

Who broke the market today?

#pietrades and rolling with some good premiums.

ANDV rolled 11 DTE 95 put to 25 DTE 93 put for 0.25 credit. Cost basis 90.78 if assigned.

NSC rolled 11 DTE 131 put to 25 DTE 128 put for 0.32 credit. CB 126.63 if assigned.

I will probably #jadelizard these if we get a bounce in next few days and also UTX but want better prices on a rebound.

ERX 21/26 4 DTE under water. Still some time value in the short option so will wait and roll later in the week. I will likely #fuzzy it to the Jan 19 call 20 strike, then just sell weekly options against it. With 41.5 weeks left would only need 0.19 per week to scratch the trade to zero so will probably sell OTM to give it a little room. I can roll the long option out and down for 4.15 right now and gain 41 weeks. 2-3 strikes oTM usually brings in 0.6-1 each week so this could be a good longer term trade.

Actually as I am typing this ERX going to parity, will roll it now.

New trade is a #fuzzy Jan 19 call 20 strike, rolled for 4.25 debit and the short 26 call rolled to next week 25.5 for 0.45. Total CB now 8.22 for 10 contracts. Work it down each week from here.

Trade wars should spike the price of commodities including oil so this should rebound.