fuzzballl 7:47 am on Friday, July 14, 2017
Tags: ReverseRoll, ShortStrangles ( 716 ), TakeOneForTheTeam ( 53 ), VXXGame ( 769 )

SVXY adjustment

#ReverseRoll #ShortStrangles – I may let some stock go next week via the covered call route. Adjusting my August strangle to possibly get long again but also limiting risk.

Originally sold 80/180 strangle for 3.55 but starting to wonder about the 180 call so pulling the @Jeff reverse roll.

Rolled SVXY AUG 18 2017 180.0 Call to AUG 18 2017 185.0/175.0 Bull Put spread @ 2.20 credit.

Total premium received is now 5.75 on the 10 wide spread. Keeps going up it’s all good. If she tanks no matter how low it goes I’ll be in the stock at a basis 4.25 above where it’s trading at the time…lower the better if an implosion happens! Now…do I resell the call side? 🙂

#takeonefortheteam, #vxxgame

Jeff 12:49 pm on Friday, July 7, 2017
Tags: CondorRoll ( 191 ), ReverseRoll, SPXcampaign ( 2,265 )

SPX trades today

#SPXcampaign
Closed on GTC orders:
$SPX July 12th 2360/2335 put spreads for .20. Sold as part of a #CondorRoll for 5.75 on June 29th.
$SPX July 14th 2340/2315 put spreads for .20. Sold for 1.40 on June 14th.

Extra call spread sold: July 20th (monthlys) 2450/2475 call spreads for 3.75.

#ReverseRoll Stopped: July 7th 2425 short calls closed for 1.35. Sold as 2425/2450 call spreads yesterday for 3.25. Had to bail a few minutes ago.

A second consecutive week with a Thursday/Friday whipsaw. Managed much better this time.

Jeff 12:41 pm on Thursday, June 29, 2017
Tags: CondorRoll ( 191 ), IBroll ( 11 ), IronButterfly ( 141 ), ITMroll ( 83 ), ReverseRoll, Rolling ( 447 ), SPXcampaign ( 2,265 )

SPX bonanza

#SPXcampaign $SPX I’m concerned we may have had another head-fake Downside Warning today… that would be two in a row and time to reassess the mechanics of the signal. I made many trades, some reverse-rolls and some standard rolls. I also clung onto to June 30th 2425/2400 put spread, which may be able to expire tomorrow. Here are my trades in order of execution:

Closed yesterday (but roll not filled): July 5th 2410/2435 call spreads for 20.85. (had planned to sell roll on any move up today, but didn’t get one)

Today:
Closed on GTC order: July 14th 2485/2510 call spreads for .20, with SPX at 2421.

#ITMroll: Sold July 12th 2395/2420/2445 #IronButterfly for an #IBroll of ITM spread above. Since I missed my chance to roll to new calls, chose to take this route and will roll the losing side. This got me 10 points higher on the call side.

Sold July 28th 2315/2290 put spreads for 1.50, with SPX at 2420. Standard weekly spread.

STOPPED: July 5th 2405/2380 put spreads for 5.40, with SPX at 2412.
#CondorRoll: Sold July 12th 2335/2360/2445/2470 condors for 5.75, w/SPX at 2412.

STOPPED: July 3rd 2430/2405 put spreads for 12.45, with SPX at 2409.
#ReverseRoll: Sold July 3rd 2415/2440 call spreads for 7.40, and July 14th 2440/2465 call spreads for 5.30.

Sold July 28th 2480/2505 call spreads for 1.40, with SPX at 2413. Standard weekly spread.

Closed on GTC order: July 20th 2500/2525 call spreads for .20, with SPX at 2414.

STOPPED: July 20th 2360/2335 put spreads for 2.90.
#Rolling: Sold July 26th 2340/2315 put spreads for 2.05, 1.5x position size, w/SPX at 2418.

STOPPED: July 3rd 2410/2385 put spreads for 5.60, w/SPX at 2412
#CondorRoll: Sold July 10th 2350/2375/2445/2470 condors for 5.60, w/SPX at 2419

Jeff 12:37 pm on Thursday, May 25, 2017
Tags: CondorRoll ( 191 ), IBroll ( 11 ), ReverseRoll, SPXcampaign ( 2,265 )

SPX trades today:

#SPXcampaign $SPX Long list:
Closed for 80-90% of max profit:
June 9th 2255/2235 put spreads for .20
June 2nd 2320/2295 put spreads for .25
May 31st 2360/2335 put spreads for .20
May 30th 2370/2345 put spreads for .20 (on this one I closed some shorts-only for .65 and left the long puts; since my account is heavier on short put spreads, long puts are favorable to margin)

Stopped: June 2nd 2410/2435 call spreads for 8.60. Sold in a #CondorRoll for 4.90 last Thursday.
#ReverseRoll: Sold May 30th 2420/2395 put spreads for 9.25. First time I’ve tried this: ITM put spread above all-time highs, when SPX was at 2411.
#ReverseRoll for previously stopped spreads: Sold May 26th 2415/2390 put spreads; expire tomorrow (hopefully).
Stopped: June 23rd 2450/2475 call spreads for 4.35. Sold for 1.70 on Monday. (not yet rolled)
Stopped: June 23rd 2445/2470 call spreads for 4.65. Sold for 2.70 on Tuesday.
#CondorRoll: Sold June 30th 2315/2340/2470/2495 condors for 4.55

And for a standard weekly spread: Sold June 23rd 2465/2490 call spreads for 1.85

#ibroll

Jeff 12:15 pm on Thursday, May 25, 2017
Tags: CondorRoll ( 191 ), LongCallSpread ( 18 ), ReverseRoll, SPXcampaign ( 2,265 )

SPX trades yesterday

#SPXcampaign $SPX My apologies for posting trades late. It has been a hectic week after being head-faked on the 17th. Since the Upside Warning I have been aggressively getting long for the short-term.

Yesterday:
Closed June 2nd 2290/2265 put spreads for .20. Sold for 1.40 on May 2nd.

Stopped: June 7th 2400/2425 call spreads for 9.00. Sold for 4.10 on May 17th.
Stopped: June 9th 2415/2435 call spreads for 5.30. Sold as part of a #CondorRoll for 3.10 on May 17th.

#ReverseRoll: Sold June 14th 2390/2365 put spreads for 5.00.
#ReverseRoll: Sold June 16h 2390/2365 put spreads for 5.40.

#LongCallSpread: Bought May 31st 2425/2445 call spreads for .80. Designed to take advantage of the possible strong move up after the Upside Warning fires. So far, so good today.

I’ll post today’s trades in a bit.

Jeff 6:43 am on Wednesday, May 24, 2017
Tags: ReverseRoll, Rolling ( 447 ), SPXcampaign ( 2,265 )

SPX trades yesterday

#SPXcampaign One reverse-roll, one forward-roll, and one standard spread:

Stopped: bought to close SPX May 30th 2405/2430 call spreads for 4.10. Sold for 2.10 on May 17th.
#ReverseRoll: Sold SPX June 5th 2375/2350 put spreads for 2.85, 1.5x position size

Stopped: bought to close SPX June 15th 2430/2455 call spreads for 3.80.
#Rolling: sold SPX June 23rd 2445/2470 call spreads for 2.70, 1.5x position size

Sold to Open SPX June 23rd 2290/2265 put spreads for 1.35

Jeff 12:20 pm on Monday, May 22, 2017
Tags: IBroll ( 11 ), IronButterfly ( 141 ), ITMroll ( 83 ), ReverseRoll, SPXcampaign ( 2,265 )

SPX trades today

#SPXcampaign Sold $SPX June 23rd 2450/2475 call spreads for 1.70.
Closed SPX May 26th 2300/2275 put spreads for .20. Sold for 1.40 on Apr 28th.

Got stuck having to #ReverseRoll a double-sized position into calls last Wednesday, and had to stop out of them today. So I sold an #IronButterfly, or an #IBroll. This allows me to cut my position size in half, and spreads the risk more moderately in both directions rather than heavily in one direction. I will look to close each side when they get cheap, and if I’m stuck with either side significantly ITM a week before expiry, I will do an #ITMroll.

Stopped: closed SPX May 31st 2390/2415 call spreads for 9.35. Sold for 4.80 last Wednesday.
#IBroll: Sold June 7th 2365/2390/2415 iron butterflys for 18.10.

Jeff 9:18 am on Friday, May 19, 2017
Tags: CondorRoll ( 191 ), ReverseRoll, SPXcampaign ( 2,265 )

SPX roll

#SPXcampaign So far this Downside Warning is shaping up to be a big failure. I’m going to have to review the set up as the signal is not as reliable in the last couple years as it was prior to 2015. However, until we close below 11.00 (which could be today), we could still weakness next week. The rally today could be an OpEx thing.

But regardless, I was too aggressive on reverse rolls on Wednesday; placed too many below the Tuesday high of 2405, which should have been my line in the sand.

Bought to close $SPX May 26th 2380/2405 call spreads for 10.50. Sold for 8.00 on Wed as a #ReverseRoll
Sold to Open SPX June 12th 2315/2340/2410/2435 #CondorRoll for 7.55, 1.5x position size. One side of that will likely require further attention, but the idea is to get the current ATM spread out of play.

Jeff 9:49 am on Thursday, May 18, 2017
Tags: ReverseRoll, RiskReversal ( 86 ), SPXcampaign ( 2,265 )

SPX trades

#SPXcampaign I am selling this rally, even though its strength is unusual for the day after a warning. It is certainly true that the Downside Warning can represent an SPX bottom, so I’m being cautious and ready to manage call spreads if the rally continues.

#RiskReversal: Wish I’d waited to enter this one, but oh well. This was entered at the open and meant to take advantage of possible strong moves down today or tomorrow.
Bought SPX May 24th 2300/2275 put spreads for 2.20
Sold SPX May 24th 2385/2410 call spreads for 2.60

Stopped: SPX Jun 9th 2290/2265 put spreads for 2.80 (this hit my 3.00 stop)
#ReverseRoll Sold SPX May 19th 2370/2395 call spreads for 3.20. Expires Friday afternoon, unless I have to roll it.

Sold to Open $SPX June 15th 2430/2455 call spreads for 1.85, with SPX at 2366.

Jeff 1:05 pm on Wednesday, May 17, 2017
Tags: CondorRoll ( 191 ), ITMroll ( 83 ), ReverseRoll, SPXcampaign ( 2,265 )

SPX – I’m a rolling mthfer

#SPXcampaign Whew! What a day. Playing the SPX campaign means you’ll have rough days like this. My only disappointment today was the May 17th 2380/2355 spread I should have closed yesterday. That’s the only stopped spread that i have not yet rolled. Will add on some rolls in the coming days. All other trades pretty much as the [lan goes on such a sharp down day; despite the drawdown in the accounts today, positioning to gain it all back and then some in coming weeks.

I have been prepping a revised webinar on the strategy and have seen that when a Downside Warning or Upside Warning first hits, selling reverse rolls around and above recent extremes is a safer bet than rolling further out in the same direction. So today, I rolled most back into call spreads, since the odds are we will not be returning to 2400 area for at least a couple weeks.

Here are my trades since 2p ET, when things started to really crater:
BTC SPX May 17th 23870/2355 for 14.00. Sold for 2.35 on May 9th (not yet rolled).
Stopped SPX May 19th (Friday PM) 2350/2335 puts for 3.85. #ReverseRoll to May 31st 2390/2415 calls for 4.80 (extra premium will be applied to another roll).
BTC June 9th 2450/2475 calls for .20; sold for 1.50 on May 10th.
Stopped June 9th 2310/2285 puts for 3.35; #ReverseRoll to June 7th 2400/2425 calls for 4.10.
Stopped May 26th 2365/2340 puts (risk/reversal) for 7.85. #ReverseRoll to May26th 2380/2405 calls for 8.00.
STC May 26th 2410/2430 long call spreads (risk/reversal) for .80.
Stopped May 22nd 2375/2350 puts (risk/reversal) for 9.40. #ITMroll to May 30th 2370/2445 put spreads for 7.60, with May 30th 2405/2430 call spreads for 2.10 added to make up for debit.
STC May 22nd 2410/2435 long call spreads (risk/reversal) for .20. First half sold Monday for 3.30.
Stopped June 2nd 2310/2285 puts for 2.75. #CondorRoll to June 9th 2235/2255/2415/2435 for 3.10.

Jeff 7:01 am on Wednesday, May 17, 2017
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX trades

#SPXcampaign
Sold to Open $SPX June 15th 2265/2240 put spreads for 1.40, with SPX at 2382.

These all closed on GTC orders since the opening bell:
SPX May 18th 2415/2440 call spreads for .20. Sold for 1.30 as a #ReverseRoll on May 11th
SPX May 26th 2440/2465 call spreads for .20. Sold for 1.60 on Apr 24th
SPX May 26th 2435/2460 call spreads for .20. Sold for 1.65 on Apr 28th
SPX June 2nd 2450/2475 call spreads for .20. Sold for 1.40 on May 1st

fuzzballl 7:12 am on Friday, May 12, 2017
Tags: ReverseRoll, ShortStrangles ( 716 )

NVDA reverse roll

You can scroll down a couple posts to my comment in Jeff’s “NVDA, partial roll” thread to see my reasoning for this. Basically, Dan pointed out in his free video last night the weekly squeeze in NVDA. TOS shows it just getting started and JC says these usually run 8-10 bars.

Because of all of this, and all the premium booked yesterday, I feel I can get a little directional and if it doesn’t work can get the stock at a very nice basis if required.

#ReverseRoll #ShortStrangles

Rolled Sep 120 and 130 calls to Jun 140 puts @ 1.50 debit avg per contract
Sold NVDA JUN 16 2017 150.0 Calls @ .80

More than made up that .70 debit with this:

Bought to Close NVDA MAY 19 2017 128.0 Put @ 2.45 (sold for 5.76)
Bought to Close NVDA MAY 19 2017 129.0 Put @ 3.15 (sold for 6.58)
Bought to Close NVDA MAY 19 2017 130.0 Put @ 3.45 (sold for 7.54)
Bought to Close NVDA MAY 19 2017 131.0 Put @ 4.05 (sold for 7.77)
Bought to Close NVDA MAY 19 2017 132.0 Put @ 4.75 (sold for 8.42)

So, what’s the big picture?

Stock moves up it’s all good. Stock tanks and I roll puts down and eventually own the stock 8 dollars below the put strike since total premium so far is about 8 dollars per contract. Hopefully can have this all wrapped up by next earnings where we can do it all again! 🙂 🙂

Jeff 7:11 am on Thursday, May 11, 2017
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX switcheroo

#SPXcampaign Running into some margin limitations today as I am weighted toward the short put side so wasn’t able to sell more put spreads on my portfolio margin account. So, I am closing a short-term put spread and selling a call spread as a #ReverseRoll. This clears me to sell a longer-term put spread to fulfill my campaign objectives. This is playing on the assumption we are hitting some lows this week for a bounce into monthly expiration next week.

Bought to close $SPX May 18th 2340/2315 put spreads for 1.20. Sold as part of an iron condor for 3.40 on Apr 25th.
#ReverseRoll Sold to Open SPX May 18th 2415/2440 call spreads for 1.30.

Sold to Open SPX June 9th 2290/2265 put spreads for 1.40.

Jeff 7:45 am on Tuesday, May 9, 2017
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX one closed, one rolled

#SPXcampaign
Bought to close $SPX May 10th 2375/2350 put spreads for .20. Sold for 4.15 on Apr 26th. This was sold on the day the Upside Warning fired.

STOPPED: Bought to close $SPX May 15th 2415/2440 call spreads for 2.25. Sold in an iron condor for 3.90 last Wednesday.
#ReverseRoll Sold SPX May 17th 2380/2355 put spreads for 2.35. Moved this 2 days further out, but still only 8 days from now… bullish action should continue but may not last too long, so I’m keeping aggressive put spreads close in expiration, for maximum theta burn.

Jeff 12:10 pm on Thursday, April 13, 2017
Tags: CondorRoll ( 191 ), ReverseRoll, SPXcampaign ( 2,265 )

SPX sales, stops, and rolls

#SPXcampaign Several trades… stopped out of a couple put spreads to lighten the load in case we have a blackish Monday.

STOPPED: Bought to close $SPX Apr 20th 2325/2300 put spreads for 5.20. Sold for 3.00 on Apr 5th.
STOPPED: Bought to close SPX May 5th 2245/2220 put spreads for 2.10. Sold for 1.45 on Apr 3rd

#ReverseRoll Sold to Open SPX May 5th 2395/2420 call spreads for 2.25… same expiry as above spread it is replacing

Also:
Closed May 5th 2440/2465 call spreads for .25. Sold for 1.45 on Apr 3rd
Closed Apr 28th 2150/2125 put spreads for .20. Sold as part of a #CondorRoll for 2.10 on March 27th

Jeff 12:34 pm on Wednesday, March 15, 2017
Tags: CondorRoll ( 191 ), ReverseRoll, SPXcampaign ( 2,265 )

Reverse Roll

#SPXcampaign And we’re off to the races once again. As this kind of strength seems to carry through, at least for a day or two, I just reversed myself when a trade was almost ATM.

Bought to close $SPXPM March 17th 2390/2415 call spreads for 4.25. Sold as part of a #CondorRoll for 6.50 on March 10th.

#ReverseRoll Sold to Open SPXPM March 17th 2385/2360 put spreads for 4.65.

Jeff 12:46 pm on Monday, February 13, 2017
Tags: CondorRoll ( 191 ), ReverseRoll, SPXcampaign ( 2,265 )

More stops, more rolls

#SPXcampaign Bought to close $SPX Feb 16th 2335/2360 call spreads for 4.25. Sold for 1.40 on Jan 20th.
#ReverseRoll Sold to Open $SPXPM Feb 17th 2320/2295 put spreads for 3.45, 1.5x position size. I keep daring the market to have kind of pullback… it’ll work one of these times.

Bought to close SPX March 10th 2360/2385 call spreads for 3.90. Sold for 1.45 last Tuesday.
#CondorRoll Sold to Open SPX March 16th 2200/2225/2400/2425 condors for 2.80, 1.5x position size

Jeff 7:29 am on Monday, February 13, 2017
Tags: CondorRoll ( 191 ), ReverseRoll, Rolling ( 447 ), SPXcampaign ( 2,265 )

SPX busy morning

#SPXcampaign As we sail up higher I am stopping out on some standard call spreads. Using a 4.00 stop, and #Rolling into puts or condors

Bought to close $SPX Feb 16th 2330/2355 call spreads for 4.05. Sold for 1.45 on Jan 18th.
#ReverseRoll Sold to Open $SPX Feb 24th 2300/2275 put spreads for 2.85, 1.5x position size.

Bought to close $SPX March 3rd 2345/2370 call spreads for 4.30. Sold for 1.40 on Feb 1st.
#CondorRoll Sold to open SPX March 3rd 2250/2275/2380/2405 iron condors for 3.00, 1.5x position size.

Also, bought to close SPX Feb 21st 2250/2225 put spreads for .20. Sold for 3.60 on Feb 1st.

Jeff 12:55 pm on Thursday, January 26, 2017
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX reverse roll

#SPXcampaign Stopping out and reversing my most endangered call spread.

Bought to close $SPX Feb 24th 2230/2255 call spreads for 3.90. Sold on Tuesday for 1.40
#ReverseRoll: Sold to Open SPX Feb 10th 2275/2250 put spreads for 3.95, with SPX at 2296.

Outlook remains bullish. Today the VIX is having its 3rd close beneath the most recent 78.6 Fib line (drawn from 12/21 low and 1/19 high). This is another confirmation of the ongoing Upside Warning.

Jeff 9:58 am on Friday, January 6, 2017
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX reverse roll

#SPXcampaign The push higher is underway. Rolling positions with 2300 as a short, since we’ve hit my stop level of 2280. This first one expires Wednesday, #ReverseRoll for the same date, same position size.

Bought to close $SPX Jan 11th 2300/2325 call spreads for 1.25. Sold as part of a condor for 7.25 on Dec 20th.
Sold to Open $SPX Jan 11th 2260/2235 put spreads for 1.55.

Jeff 11:05 am on Wednesday, January 4, 2017
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX trades today

#SPXcampaign
Bought to close $SPX Jan 9th 2190/2165 call spreads for .20
Stopped: Bought to close Jan 9th 2275/2300 call spreads for 4.50.
Both of the above were sold as an iron condor last Thursday for 4.25. Will look to roll again this week.

#ReverseRoll from yesterday’s stopped call spread:
Sold to open $SPX Jan 9th 2255/2230 put spreads for 2.85. I have not had luck with ATM put spreads yet, but I’ll keep trying.

Jeff 12:54 pm on Friday, December 30, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX puts stopped

#SPXcampaign This one hit my 3.00 stop, so I closed it on the bounce. Looking to #ReverseRoll it but got no fill before we started dropping again.

Bought to close $SPX Jan 19th 2175/2150 put spreads for 2.70. Sold for 1.45 on Dec 21st.

Jeff 11:53 am on Friday, December 30, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX puts stopped

#SPXcampaign Bought to close $SPX Jan 6th 2230/2205 put spreads for 6.30. Sold for 3.90 on Wednesday. Looking to #ReverseRoll into calls. Even if we rebound higher next week, I believe the upside momentum will remain stalled and call spreads are the safer bet.

Jeff 6:42 am on Wednesday, December 21, 2016
Tags: ReverseRoll, Rolling ( 447 ), SPXcampaign ( 2,265 )

SPX ATM put spread sold

#SPXcampaign #ReverseRoll Sold to Open $SPX Dec 28th 2270/2245 put spreads for 7.00. This is more #Rolling to make up for stopped call spreads, and also offsets three ATM/ITM call spreads I have now. I believe the push to Dow 20,000 will keep us moving up into January, and then we’ll see some pullback.

Jeff 11:55 am on Thursday, December 8, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX reverse roll

#SPXcampaign #ReverseRoll Flipped this one without changing the expiration date.
Bought to close $SPX Dec 30th 2265/2290 call spreads for 7.50. Sold for 1.55 last Friday.
Sold to Open $SPX Dec 30th 2215/2190 put spreads for 5.10, using 1.5x position size.

Jeff 8:06 am on Tuesday, November 22, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX calls rolled

#SPXcampaign #ReverseRoll
Bought to close $SPX Dec 2nd 2220/2245 call spreads for 3.50.
Sold to Open $SPX Dec 9th 2150/2125 put spreads for 2.65, 1.5x position size.

Jeff 11:31 am on Monday, November 21, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX, reverse rolling and going long

#SPXcampaign Bought to close $SPX Nov 23rd 2200/2220 call spreads for 3.20. Sold for 4.00 on Nov 9th.
Sold to open SPX Nov 30th 2170/2145 put spreads for 2.50, 1.5x position size (#ReverseRoll)

The above stopped spread expires Wednesday but we could be up to 2210 by then. Reverse rolled back into some puts, one week further out. Also, bought some LONG call spreads, targeting a double or triple:

Bought to open $SPX Dec 5th 2230/2250 call spreads for 1.90.

Jeff 7:02 am on Wednesday, November 16, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX roll

#SPXcampaign #ReverseRoll
Sold to Open $SPX Dec 2nd 2100/2075 put spreads for 1.45. This is another roll for the Nov 17th call spreads I had to close yesterday.

Jeff 11:30 am on Tuesday, November 1, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX stop and reverse roll

#SPXcampaign With significant weakness in the market I am getting some put spreads out of the way before they have a chance to get ugly.

Bought to close $SPX Nov 11th 2000/1975 put spreads for 2.75, sold for 1.30 on Oct 11th.
#ReverseRoll: Sold to Open Nov 17th 2185/2210 call spreads for 2.10, with 1.5x position size.

Jeff 8:04 am on Monday, October 24, 2016
Tags: Earnings ( 3,108 ), ReverseRoll, Rolling ( 447 )

NFLX trades

#Earnings #Rolling We hit 129 so I’m rolling my short calls that expire Friday. I covered them as NFLX fell back down. And I sold more puts:
BTC NFLX Oct 28th 129 calls, 2.35 avg price. Sold last week for .79 avg price.
#ReverseRoll to:
STO NFLX Oct 28th 123 put for 1.00
STO NFLX Dec 16th 110 put for 1.50
STO NFLX March 17th 95 put for 2.55
(Jan 20th 105.71 put sold earlier for 2.82)

Jeff 6:57 am on Friday, September 30, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX call spread sold

#SPXcampaign Sold to Open $SPX Oct 19th 2210/2235 call spreads for 2.10. Doing the #ReverseRoll of put spreads stopped yesterday. Unless and until yesterday’s VIX Indicator signal is canceled I am fading the rallies.

Jeff 10:51 am on Monday, September 12, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX roll sold

#SPXcampaign Sold to Open $SPX Oct 5th 2215/2240 call spreads for 1.70. This is a #ReverseRoll from the Sept 23rd 2050/2025 put spreads stopped on Friday for 2.55. I used extra contracts to give me a credit on the roll.

If this morning was the bottom, I still believe it will be unlikely to get up above 2200 by early October.

Jeff 9:31 am on Friday, September 9, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX reverse roll

#SPXcampaign #reverseroll
Bought to close $SPX Sept 21st 2125/2100 put spreads for 4.20. Sold for 1.90 on Wednesday.
Sold to Open $SPX Sept 28th 2190/2215 call spreads for 4.50.

This shifts the risk to the upside at around the all-time high, with no position size increase and a .30 credit.

Jeff 7:37 am on Thursday, September 1, 2016
Tags: ContangoETFs ( 446 ), ReverseRoll, StrangleRoll ( 49 )

NUGT rolls

#ContangoETFs BTC Sept 2nd 21 put for 2.60, and Sept 16th 23 put for 5.00. These are ITM and starting to unwind them. I had 5 contracts on each (from the split), doing one at a time. Will look to #ReverseRoll or #StrangleRoll.

Kelly 8:24 am on Friday, July 8, 2016
Tags: ReverseRoll, ShortCalls ( 979 )

$SVXY #ShortCalls #ReverseRoll I might…

$SVXY #ShortCalls #ReverseRoll

I might not be around near the end of the day so went ahead and made this roll out a bit early.
Market is very strong today, coupled with the movement in the $VIX and Jeff’s note about an upside warning, I opted to Reverse Roll some calls expiring today into puts vs. rolling them up and out.

BTC $SVXY July 8 $52.5 calls @ $1.75 (2)
STO $SVXY July 22 $43.5 puts @ $0.50 (2)
STO $SVXY July 29 $40 puts @ $o.50 (2)
STO $SVXY Aug 5 $42 puts @ $0.75 (2)

I could have rolled into fewer higher priced puts, but chose to use the strikes near the Brexit low’s of basically $40 and it was only there for a few minutes.

Jeff 12:25 pm on Thursday, June 30, 2016
Tags: CondorRoll ( 191 ), ReverseRoll, SPXcampaign ( 2,265 )

SPX calls Stopped and rolled

#SPXcampaign Bought to close July 22nd 2115/2140 call spreads for 8.70. Sold for 1.45 on Tuesday.
Sold to Open $SPX July 29th 2010/2035/2165/2190 iron condor for 6.05, 1.5x position size.

Also, Bought to close $SPX July 14th 2100/2125 call spreads for 10.50. Sold for 1.50 on Tuesday. Will wait to roll tomorrow or later.

There is no doubt I made a mistake on Friday and Monday by using #ReverseRoll and #CondorRoll strategies with stopped put spreads. I expected the down move to be at last a few days, not only two, followed by a 100-point rally by Thursday. The #SPXcampaign rules say to roll further out in the same direction, with only some consideration given to reverse or condor rolls. Had I rolled everything into puts, I’d be golden now. As it is, all of my put spreads have been closed and I am very pressured on the call side. Now, at this ridiculously extended level, I have no choice but to sell puts or condors as my margin will not allow more call spreads of sufficient size. There is little sense to be made of this market; all you can do is “roll” with it.

Jeff 12:58 pm on Wednesday, June 29, 2016
Tags: ReverseRoll, Rolling ( 447 ), SPXcampaign ( 2,265 )

SPX calls rolled

#SPXcampaign #Rolling Well it turned out to be a mistake doing a #ReverseRoll for stopped puts on Monday. Going farther out in time for this roll so I can be at a comfortable distance OTM.

Bought to close $SPX July 8th 2075/2100 call spreads for 9.60. Sold for 3.00 on Monday.
Sold to Open $SPX August 18th 2130/2155 call spreads for 6.35 (1.5x position size).

Jeff 12:56 pm on Monday, June 13, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX puts spreads stopped

I am stopping out on three put spreads, details to follow. Not sure about rolls yet.

#reverseroll, #spxcampaign

Jeff 6:47 am on Tuesday, May 31, 2016
Tags: ContangoETFs ( 446 ), ReverseRoll

NUGT roll

#ContangoETFs #ReverseRoll Kind of a roll even though I’m closing the put for breakeven, but I’m pressured more on the put side so this roll releases substantial margin…

BTC NUGT June 17th 70 put for 8.75. Sold in April for 8.83 (avg price)
STO NUGT June 24th 98 call for 3.10

Jeff 11:49 am on Monday, May 2, 2016
Tags: ContangoETFs ( 446 ), ReverseRoll

NUGT trades

#ContangoETFs #ReverseRoll What I’ve done today… I have to start closing my few remaining ITM calls due to margin pressure and I still believe upside risk greater than downside. I will build back slowly, sell more puts on down days. If any of my aggressive put positions become ITM I will be able to roll, possibly back into calls if the trend changes.

BTC NUGT May 13th 45 put for .10. Sold for .95 on 4/15
BTC NUGT May 13th 55 puts for .20. Sold for 2.50 on 4/15
BTC NUGT June 17th 60 call for 59.60. Sold for 10.80 on 2/8
BTC NUGT May 13th 120 call for 12.50. Sold for 2.05 on 4/15
STO June 3rd 80 put for 5.20
STO June 17th 100 put for 15.50
STO June 17th 45 puts for 1.25 (thanks @Ramie)

Jeff 12:10 pm on Friday, April 29, 2016
Tags: ContangoETFs ( 446 ), ReverseRoll

NUGT rolls

#ContangoETFs #ReverseRoll This first option was OTM on Monday, and was 23.00 this morning. So much for patience!
BTC NUGT Apr 29th 85 call for 30.65. Sold for 4.20 on 4/8
BTC NUGT May 6th 55 puts for .10. Sold for 2.00 on 4/12
BTC NUGT May 6th 70 put for .20. Sold for 2.65 on 4/20
BTC NUGT May 13th 50 puts for .15. Sold for 1.75 on 4/13
STO NUGT May 27th 70 puts for 2.40
STO NUGT June 10th 70 put for 4.00

ncroadrunr 11:37 am on Friday, April 29, 2016
Tags: ReverseRoll, ReverseRolling ( 14 )

$NUGT

I don’t know how anyone makes money with this. I got creamed with a strangle 10 wide (expiring today) Wed when it was selling for 87. My 98 call is deeply underwater, and I expect rolling it out to March 20 will only compound the loss. I normally cover a short calls for small gain but thought I had enough buffer. What do the experienced $NUGT traders think is a smart strategy?

#reverseroll

#reverserolling

Jeff 7:10 am on Friday, April 29, 2016
Tags: ContangoETFs ( 446 ), ReverseRoll

NUGT reverse rolling

#ContangoETFs #ReverseRoll
BTC NUGT May 13th 105 call for 13.00. Sold for 3.50 on 4/11.
BTC NUGT June 17th 105 call for 22.20. Sold for 5.50 on 4/7.
STO NUGT May 27th 80 put for 4.40
STO NUGT June 17th 70 put for 5.35 and 72 put for 5.50
STO NUGT June 3rd 90 put for 9.50

Jeff 6:52 am on Friday, April 15, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX puts sold

#SPXcampaign Sold to Open $SPX May 6th 2025/2000 put spreads for 3.10. A #ReverseRoll to partially replaced call spread stopped this morning.

Sold to Open $SPX May 13th 1960/1935 put spreads for 1.35, with SPX at 2080.

Jeff 11:22 am on Tuesday, April 12, 2016
Tags: ContangoETFs ( 446 ), ReverseRoll

NUGT reverse roll

#ContangoETFs #ReverseRoll Taking a cue from @fuzzballl here…
BTC NUGT May 6th 105 call for 6.00
STO NUGT May 20th 55 puts (x2) for 3.00

honkhonk81 12:58 pm on Wednesday, March 30, 2016
Tags: ContangoETFs ( 446 ), ReverseRoll, ReverseRolling ( 14 )

$UVXY I’m short the weekly…

$UVXY I’m short the weekly 26.0 Put. I’ve rolled it out twice already. Does there come a point when you have to take the loss, or do you just keep rolling it out. I’ve never experienced this before, where the stock just keeps losing ground.
Anybody?

#contangoetfs, #reverseroll, #reverserolling

Jeff 6:59 am on Monday, March 28, 2016
Tags: ContangoETFs ( 446 ), ReverseRoll

NUGT put

#ContangoETFs STO NUGT April 8th 45 put for 2.25. Getting some pressure on some puts, may have to #ReverseRoll if there’s no rebound this week.

Jeff 12:34 pm on Wednesday, March 23, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX reverse roll attempt

#SPXcampaign I’m not buying this as a breakdown in the market. Volume is low, VIX barely spiking. Still, this trade may not work; won’t let it live if we get much below 2020. This is a #ReverseRoll from stopped call spreads.
Sold to Open $SPX April 14th 2000/1975 put spreads for 5.00, with SPX at 2036.

Jeff 9:45 am on Wednesday, March 16, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX put spread

#SPXcampaign Sold to Open $SPX April 1st 1925/1900 put spreads for 1.60, double position as a #ReverseRoll to stopped call spreads.

Jeff 9:06 am on Thursday, February 11, 2016
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX trades

#SPXcampaign
Bought to close $SPX Feb 26th 2025/2050 call spreads for .20. Originally sold for 1.55.

Stopped out, March 4th 1700/1675 put spreads for 2.90. Originally sold for 1.25.
#ReverseRoll Sold to Open SPX March 4th 1960/1985 call spreads for 1.45.

Selling a call spread on a 2% down day, you ask? Yes! Call spreads are working without fail. I will definitely sell more with any bounce higher today and every day there’s a bounce, but currently I have stopped selling put spreads more than a few days out.

Jeff 12:00 pm on Monday, January 25, 2016
Tags: ReverseRoll, Rolling ( 447 )

Tracking Rolls

#Rolling #ReverseRoll
I got this question via email: “…with all my rolling of short positions, I’m having a hard time keeping track of each position. I’ve had to roll some positions 4-5 times, and more, especially SVXY, so that my cost basis seems to get lost in all the mess. I currently use an Excel spread sheet that I listed monthly trades, but then I found I had to search for the strike, then enter the roll position, and it just keeps going. Finding each position after a few rolls has been difficult. Any good way that you have found to keep track of the position when you roll, especially numerous rolls?”

I can’t do you much better than Excel, but maybe others can reply with their methods. I track each trade on Excel, and if I roll the position, I will extend that trade’s Excel row to the right, adding and subtracting the costs of each roll into the P/L for that trade… goal is to come out with a profit, or at least breakeven in the end. I can provide more detail if that’s not clear, but it can be a bit confusing with multiple rolls.

Jeff 7:11 am on Wednesday, December 30, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

KOLD pop

Of course, my morning post yesterday probably signaled a low in $KOLD. Nothing like shouting that it will be below 100 in two weeks to get it to shoot higher immediately. Still, taking some put side risk off and adding some calls.
BTC $KOLD Jan 114 puts for 1.50. Sold for 3.45 on 12/3
BTC $KOLD Feb 90 put for 2.00. Sold for 4.00 on 11/23
STO KOLD Feb 240 call for 5.00
STO KOLD Feb 250/275 call spreads for 1.00 — the margin to sell 4 of these was less than selling one 250 call for 4.00

#ContangoETFs #ReverseRoll

Jeff 6:59 am on Tuesday, December 29, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

KOLD roll

#ContangoETFs #ReverseRoll
BTC $KOLD Jan 150 put for 21.00. Sold for 4.10 on 12/14
BTC KOLD Jan 140 put for 14.00. Sold for 3.10
STO KOLD Feb 110 call for 35.60 (ITM)
STO KOLD May 275 call for 7.00

Jeff 6:29 am on Tuesday, December 29, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

Good morning….

Nat Gas futures up again… seems clear we are in a sustained bounce/rally, even as other energy still wavers. Not sure if the bottom is in, but if the upticks continue, and with the magnified effect on 2x ETF’s, $KOLD is set to collapse back below 100 with in a couple weeks. I am #ReverseRoll my way out of short puts, able to still sell calls above 200 and even 300 before they die a slow death. I was trying to get out of my 150 put yesterday but thought maybe we’d get a small pullback in Gas today. No such luck, and now KOLD is opening 12 points lower. No more waiting… closing 150 and 140 puts today. Fortunately, ITM calls, including the 150 CALL I sold for 64.00, are coming in nicely.

#ContangoETFs

Jeff 7:09 am on Monday, December 28, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

Stopped KOLD

#ContangoETFs #ReverseRoll
BTC $KOLD Jan 170 put for 22.60. Sold for 6.80 on 12/15
STO $KOLD May 320 calls (x3) for 9.40, highest available strike

Jeff 9:46 am on Thursday, December 24, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

Stone KOLD rolling

#ContangoETFs #ReverseRoll
Yesterday BTC $KOLD Jan 170 put for 13.60
Today STO $KOLD Feb 240 call for 14.00

Jeff 9:23 am on Wednesday, December 23, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

KOLD snap?

#ContangoETFs STO $KOLD Jan 140 put for 3.10. Have several puts, but will #ReverseRoll them into calls if any of them become ATM.

Jeff 6:38 am on Tuesday, December 22, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

Revenge is a dish best served KOLD

#ContangoETFs Nat Gas chart finally looking constructive with possible bottom in place. Dumping my only ITM put with a #ReverseRoll to higher calls. As long as we get some stabilization in gas prices, KOLD will dump.

BTC $KOLD Jan 210 put for 30.00. Sold for 21.90 on 12/15.
STO $KOLD Feb 270 calls (2) for 16.50

Jeff 7:01 am on Friday, December 18, 2015
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX calls closed

#SPXcampaign BTC $SPX Dec 24th 2110/2135 call spreads for .20. Sold for 2.00 last Friday as a #ReverseRoll from stopped put spread. This spread got up above 4.00 on Wednesday after Fed.

Jeff 12:28 pm on Tuesday, December 15, 2015
Tags: ContangoETFs ( 446 ), NatGas ( 3 ), ReverseRoll, Rolling ( 447 )

KOLD you so…

Spike spikey.. this one may never go down again. IMHO traders think they are smarter than market… global warming means no one will ever need Nat Gas again; easy to see 500 in the cards. See my previous posts going back to the 80’s on how to avoid this. Newbies may have face ripped off!

(For those who were not members of OptionMarketMentor, that was a reference you won’t get, but just know that it is funny)

And now in all seriousness, as Iceman indicates, these things can have violent moves. Look at Monthly chart of $KOLD and see what happened last time we got this high. If you aren’t trading this, don’t start now! I am rolling out of my December short calls in various ways, including rolls to new calls, reverse rolling to puts, buying stock, and selling new puts. I have also closed some puts for .10 & .15, which releases about 5K in margin per option!

BTO 100 shares for 217.55 (adding to some bought at 187)
BTC Dec 18th 149 puts for .15. Sold for 1.80 on 12/10
BTC Dec 18th 155 puts for .15. Sold for 2.60 on 12/8
BTC Dec 18th 135 put for .10. Sold for 2.90 on 12/3
BTC Dec 18th 118 call for 99.60. Sold for 20.00 on 11/11
STO Dec 18th 200 puts for 2.80
STO Jan 15th 210 put for 21.90

#ContangoETFs #Rolling #ReverseRoll

#natgas

Jeff 10:24 am on Friday, December 11, 2015
Tags: ReverseRoll, SPXcampaign ( 2,265 )

SPX call spread roll

#SPXcampaign STO $SPX Dec 24th 2110/2135 call spreads for 2.00. This is a #ReverseRoll from the Dec 24th put spread stopped out today. This is the only call-roll I will use today, as I do not want to throw all my risk up there only to have a huge bear-market rally next week. Waiting for Monday to look at further rolls.

Jeff 9:53 am on Friday, December 11, 2015
Tags: ReverseRoll, SPXcampaign ( 2,265 )

More call spreads closed

#SPXcampaign Clearing decks so I can roll some of these spreads down so I can #ReverseRoll from the put spreads

BTC $SPX Dec 24th 2180/2205 call spreads for .15. Sold for 1.30 on Nov 18th (part of a roll)
BTC $SPX Dec 24th 2165/2190 call spreads for .20. Sold for 1.30 on Nov 27th

Jeff 10:34 am on Tuesday, December 8, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

KOLD calls hurting

#ContangoETFs The continuing decline of Nat Gas has driven $KOLD up astronomically, straining my account and margin. I currently have way more puts than calls, but the calls are all dramatically underwater. Fortunately, it is not difficult to #ReverseRoll. On November expiration, I had 5 short calls way ITM that I closed out. Within one week I had sold enough puts to make up for the losses, and all of those puts are now approaching zero.

December expiration is a bit heavier, but today I started closing out some early and sold some more puts.
BTC $KOLD Dec 118 call for 62.00. Sold for 20.00 on 11/11 (part of a roll)
BTC $KOLD Dec 120 call for 56.40. Sold for 19.00 on 11/19
BTC $KOLD Dec 100 puts for .20. Sold for 3.00 on 11/19
STO $KOLD Dec 155 puts for 2.85. Starting the rolls for the above positions.

Jeff 9:11 am on Wednesday, November 25, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll, Rolling ( 447 )

BOIL up

#ContangoETFs STO $BOIL Jan 25 calls for 1.10.

STO $BOIL Jan 30 calls for .50

Any rally in Nat Gas is worth selling

#reverseroll, #rolling

Jeff 10:19 am on Monday, November 23, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

KOLD puts

#ContangoETFs Sold these as part of a #ReverseRoll from Friday’s calls, with intent to add more on any down days in the name. These reduce my margin to sell these, since I am heavier in calls than puts.

STO $KOLD Dec 110 puts for 2.40
STO $KOLD Dec 115 put for 3.70

Option Iceman 7:02 am on Friday, November 20, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll, Rolling ( 447 )

$KOLD – the art of…

$KOLD – the art of exiting an illiquid option position that just went in the money –
So I’m trying to exit my short call position @ 136 on KOLD but the bid / ask is 3 points apart. Rather than let the market maker take his pound of flesh, I’m going to buy the stock, either on a dip, or at the close and let them call it away.
I’ll still make money due to the large initial premium I got when I sold this.

#contangoetfs, #reverseroll, #rolling

Jeff 9:58 am on Thursday, November 19, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll, Rolling ( 447 )

KOLD roll

#ContangoETFs On Friday I closed some ITM $KOLD calls to reduce margin in case of another manic Monday. I replaced those with these today:
STO KOLD Dec 18th 120 call for 17.00
STO KOLD Dec 18th 125 call for 14.60
STO KOLD Dec 18th 100 puts for 3.00
STO KOLD Feb 135 call for 18.10
STO KOLD Feb 70 puts for 2.10

#Rolling #ReverseRoll

Jeff 12:44 pm on Wednesday, November 18, 2015
Tags: ContangoETFs ( 446 ), ReverseRoll

NUGT roll

#ContangoETFs #ReverseRoll Continuing to back out my small but ill-advised put positions.
BTC $NUGT Dec 18th 22 put for 2.50. Sold for 1.00 on Oct 16th
STO $NUGT Jan 15th 34 call for 2.70.