$SVXY #CoveredCalls #Rollup – one…

$SVXY #CoveredCalls #Rollup – one of many rollups I’m doing in various accounts for SVXY.
Bought to close SVXY Aug 5 2016 64.0 Calls @ 3.67
Sold SVXY Sep 23 2016 70.0 Calls @ 5.20 for a 1.53 Credit plus 6 points on the strike price.

This trade puts the new strike price above the YTD high on SVXY.

In this account I’m using a 3:1 overwrite strategy with an #OptionLadder approach. So if SVXY collapses again I’m not likely to get hurt to the downside unless the stock stays down for more than 6 weeks. For each individual week I only have calls outstanding on 50% of my long stock. I roll that position each week out to a week that I have no exposure in, at successively higher strike prices.

At some point I will start letting some of my stock go and switch to selling puts.

$SVXY #CoveredCalls #Rollup #IRA -…

$SVXY #CoveredCalls #Rollup #IRA – this would have been easier if SVXY had stayed near the opening price all day
Bought to close SVXY Jul 22 2016 56.0 Calls/Sold SVXY Aug 12 2016 58.5 Calls for a 0.25 Credit.
Bought to close SVXY Jul 22 2016 59.5 Calls/Sold SVXY Jul 29 2016 61.0 Calls for a 0.57 Credit.

$SVXY #CoveredCalls #Rollup #IRA =…

$SVXY #CoveredCalls #Rollup #IRA = starting my rolls for ITM Calls
Bought to close SVXY Jul 22 2016 56.5 Calls/Sold SVXY Aug 5 2016 59.0 Calls for a 0.50 Credit.
I added two weeks to my holding period but bumped the strike price up 2 1/2 points.

$SVXY #CoveredCalls #Rollup #VXXGame -…

$SVXY #CoveredCalls #Rollup #VXXGame – I rolled all the calls that I need to for this week in the first 30 minutes this morning.

I have some 54 calls that I’m going to let get assigned this week because I got over 9 points premium when I sold them. That gets me out of a block of the stock above 63. I’ll take it and move closer to cash.

Bought to close SVXY JUL 15 2016 55.0 Calls/Sold SVXY JUL 22 2016 56.5 Calls for a 0.05 Credit
Bought to close SVXY JUL 15 2016 55.5 Calls/Sold SVXY JUL 22 2016 57.0 Calls for a 0.05 Credit
Bought to close SVXY JUL 15 2016 56.0 Calls/Sold SVXY JUL 22 2016 58.0 Calls for a 0.05 Credit
Bought to close SVXY JUL 15 2016 56.5 Calls/Sold SVXY JUL 22 2016 58.5 Calls for a 0.10 Credit

I added either 1.5 or 2.0 points to the strike prices for only one more week of exposure.

$SVXY #CoveredCalls #Rollup – did…

$SVXY #CoveredCalls #Rollup – did the following roll this afternoon –
Bought to close SVXY JUL 15 2016 55.0 Calls / Sold SVXY JUL 22 2016 56.0 Calls for a 0.20 credit.
Added a point to the strike price with only an extra week of time added on.
I’ll have others to roll tomorrow unless the market/stock breaks down sharply.
Doesn’t seem likely given the current momentum.

$SVXY #CoveredCalls #Rollup – Rolled…

$SVXY #CoveredCalls #Rollup – Rolled these in an IRA
Bought to close SVXY JUL 8 2016 53.5 Calls / Sold SVXY JUL 22 2016 56.0 Calls for a 0.20 Credit

$SVXY #CoveredCalls #Rollup – Rolled…

$SVXY #CoveredCalls #Rollup – Rolled these in an IRA
Bought to close SVXY JUL 8 2016 53.5 Calls / Sold SVXY JUL 29 2016 57.0 Calls for a 0.42 Credit

$NUGT #ShortCall #Rollup – Rolled…

$NUGT #ShortCalls #Rollup – Rolled this one out a week and up 15 points for an 0.80 Credit.

edit: also Rolled another 160 Call for a 1.10 Credit up to 175

$NUGT #ShortCalls #Rollup – I’m…

$NUGT #ShortCalls #Rollup – I’m forced to roll this option up to avoid assignment. Never imagined that it would go in the money.
Bought to close 1 NUGT Jul 1 2016 135.0 Call / Sold 1 NUGT Jul 29 2016 180.0 Call for a 2.45 Credit

$SVXY #CoveredCalls #VXXGame #Rollup –…

$SVXY #CoveredCalls #VXXGame #Rollup – More rolls for this week’s #ITM positions.

Bought to close SVXY June 10 2016 60.0 Calls / Sold to Open SVXY Jul 15 2016 64.0 Calls at a 0.70 Credit
Bought to close SVXY June 10 2016 62.0 Calls / Sold to Open SVXY Jul 01 2016 66.0 Calls at a 0.40 Credit

I only have this week’s strike 65 calls left to cover but I may take assignment if the stock ends up above 65 on Friday.

$NUGT #ShortCalls #Rollup – I…

$NUGT #ShortCalls #Rollup – I had been holding out hope that these positions would work out but this morning’s move put a stake in the heart of that idea. So I rolled up and out.

Bought to close NUGT Jun 17 2016 72.0 Calls / Sold NUGT Jan 20 2017 120.0 Calls @ a 0.15 Credit
Bought to close NUGT Jun 17 2016 94.0 Calls / Sold NUGT Sep 16 2016 145.0 Calls @ a 0.15 Credit

I added significantly to the strike prices without spending any cash. It’s just going to cost me time (I hope)

$SVXY #CoveredCalls #VXXGame #Rollup -…

$SVXY #CoveredCalls #VXXGame #Rollup – More rolls for this week’s and next week’s #ITM positions.

Bought to close SVXY June 10 2016 59.0 Calls / Sold to Open SVXY Dec 16 2016 75.0 Calls at a 0.65 Credit
Bought to close SVXY June 17 2016 60.0 Calls / Sold to Open SVXY Jan 20 2017 80.0 Calls at a 1.10 Credit

I’ve really pushed my strike prices up to the point where I feel comfortable letting some stock go in the next few weeks if some short calls get me out above today’s high of around 66.50 including the premium received.

$SVXY #CoveredCalls #Rollup – rolled…

$SVXY #CoveredCalls #Rollup – rolled up my in the money calls in SVXY this morning –
Rolled Jun 03 55.0 Calls to Dec 70.0 Calls for a 0.15 Credit – an unusual roll but I need to give the stock more room to run
Rolled Jun 03 57.0 Calls to Dec 71.0 Calls for a 1.92 Credit – got a much more generous credit on this roll
Rolled Jun 03 60.0 Calls to Jul 22 2016 64.0 Calls for a 1.79 Credit – a more traditional roll
Rolled Jun 03 61.0 Calls to Jul 22 2016 65.0 Calls for a 1.85 Credit – a more traditional roll

$SVXY #CoveredCalls #IRA #Rollup -…

$SVXY #CoveredCalls #IRA #Rollup – did the following roll after SVXY put on it’s typical Friday run higher
Bought to close SVXY May 20 2016 55 Calls @ 0.59 – originally sold @ 2.19 on an earlier rollup
Sold SVXY (Weekly) Jun 10 2016 60 Calls @ 1.24 – bumped the strike price up 5 points plus a 0.65 credit

$NUGT #ShortCall #Rollup – rolled…

$NUGT #ShortCalls #Rollup – rolled up the only in the money position I was carrying in NUGT for this week

Bought to close NUGT May 13 2016 95.0 Call / Sold NUGT Jun 10 2016 135.0 Call for a 0.50 Net Credit.

$SVXY #CoveredCalls #Rollup #OptionLadder –…

$SVXY #CoveredCalls #Rollup #OptionLadder – As I said earlier today SVXY is back to it’s old ways, rallying on expiration day.

Once again, I split up a major short call position, due this week, into three parts to spread the risk across multiple expiration dates. This creates a future #OptionLadder and allows the stock to run in the future. Nice Credits on all the rolls and I had sold the strike 53 Calls I am covering @ 2.16 on a previous roll.

Bought to close SVXY May 06 2016 53.0 Calls @ 0.65 – 1/3 of this position
Sold SVXY May 20 2016 57.0 Calls @ 1.06
Bought to close SVXY May 06 2016 53.0 Calls @ 0.70 – 1/3 of this position
SVXY May 27 2016 58.0 Call @ 1.30
Bought to close SVXY May 06 2016 53.0 Calls @ 0.50– 1/3 of this position
Sold SVXY Sep 16 2016 75.0 Calls @ 1.30

I had not planned on having to cover this position. It would have been more profitable to have it expire, but I’ll make back what I spent over the next few weeks.

$SVXY #CoveredCalls #Rollup – unless…

$SVXY #CoveredCalls #Rollup – unless SVXY gets above 53 in the next 2 hours this is my last roll for today.
Bought to close SVXY May 06 2016 50.5 Calls @ 1.60 – originally sold at 4.65 on a previous rollup.
Sold SVXY (Weekly) Jun 24 2016 58.0 Calls @ 2.47 – a 7 1/2 point bump in the strike plus a 0.87 credit.

$SVXY #CoveredCalls #Rollup #OptionLadder -…

$SVXY #CoveredCalls #Rollup #OptionLadder – SVXY is back to it’s old ways, rallying on expiration day.

I split up a major short call position, due this week, into three parts to spread the risk across multiple expiration dates. This creates a future #OptionLadder and allows the stock to run in the future.

Bought to close SVXY May 06 2016 51.0 Calls @ 1.39 – 1/3 of this position
Sold SVXY (Weekly) Jun 03 2016 58.0 Calls @ 1.50
Bought to close SVXY May 06 2016 51.0 Calls @ 1.22 – 1/3 of this position
Sold SVXY (Weekly) Jun 10 2016 59.0 Calls @ 1.42
Bought to close SVXY May 06 2016 51.0 Calls @ 1.38 – 1/3 of this position
Sold SVXY Jun 17 2016 60.0 Calls @ 1.68

Pushed the strike prices up above this year’s resistance on the stock and still received a credit on each roll.

$NUGT #ShortCall #Rollup – rolling…

$NUGT #ShortCalls #Rollup – rolling up a short call expiring this week to avoid assignment.
Bought to close 1 NUGT May 6 2016 75.0 Call @ 37.13
Sold 1 NUGT Jan 20 2017 120.0 Call @ 41.13 – bumped the strike price 45 points plus a 4 point credit

$SVXY #CoveredCalls #Rollup – used…

$SVXY #CoveredCalls #Rollup – used late weakness to do more rolls.

Since these were fairly deep in the money, they were difficult to roll.

Bought to close SVXY Apr 29 2016 49.5 Calls @ 4.55
Sold SVXY May 06 2016 50.5 Calls @ 4.65 – added a point to the exercise price

Bought to close SVXY Apr 29 2016 50.0 Calls @ 4.30
Sold SVXY May 06 2016 51.0 Calls @ 4.40 – added a point to the exercise price

I also sold a chunk of long stock at 56.79 at 11 this morning for a nice gain. (Better to be lucky than good I suppose)

$SVXY #CoveredCalls #Rollup – rolled…

$SVXY #CoveredCalls #Rollup – rolled up and out the following calls on the opening this morning.
Bought to close SVXY Apr 29 2016 51.0 Calls @ 4.31
Sold SVXY Jun 03 2016 55.0 Calls @ 4.48 – added 4 points to the strike price plus a 0.17 credit

$SVXY #CoveredCalls #Rollup – rolled…

$SVXY #CoveredCalls #Rollup – rolled this up to avoid possible assignment tonight
Bought to close SVXY Apr 22 2016 54.0 Calls @ 0.21
Sold SVXY May 13 2016 56.0 Calls @ 2.06 – added 2 points to the strike price plus 1.85 credit.
This should be the last one I need to cover

$SVXY #CoveredCalls #IRA #Rollup -…

$SVXY #CoveredCalls #IRA #Rollup – I don’t know what it is about Friday’s, but SVXY is always strong
Bought to close SVXY Apr 22 2016 53.5 Calls @ 0.61
Sold SVXY Apr 29 2016 56.0 Calls @ 0.81
We will see if SVXY can make a new recovery high by next week.

$SVXY #CoveredCalls #IRA #Rollup -…

$SVXY #CoveredCalls #IRA #Rollup – rolled this up to avoid possible assignment tonight
Bought to close SVXY Apr 22 2016 53.0 Calls @ 0.62 – sold for 0.70 on 4/11/16
Sold SVXY May 13 2016 56.0 Calls @ 1.87 – added 3 points to the strike price plus 1.25 credit.

$SVXY #CoveredCalls #Rollup – I’m…

$SVXY #CoveredCalls #Rollup – I’m guessing the SVXY has already seen its low for today so rolling up the last of my deep in the money calls.

Bought to close SVXY Apr 22 2016 52.0 Calls @ 1.02 – Originally sold at 2.51 on a previous #rollup
Sold SVXY May 06 2016 56.0 Calls @ 1.17 – added 5 points to the strike price plus a 0.15 credit

Bought to close SVXY Apr 22 2016 49.0 Calls @ 4.04 – rolled this large position up 0.50 last week for a 0.40 credit
Sold SVXY Apr 29 2016 49.5 Calls @ 4.27 – added another half point to the strike plus a 0.23 credit

$SVXY #CoveredCalls #Rollup – a…

$SVXY #CoveredCalls #Rollup – a partial rollup in an IRA to a strike price at the top of the recent trading range.
Bought SVXY Apr 22 2016 51.0 Calls @ 1.82 – Originally sold for 2.53 on a previous rollup
Sold SVXY May 20 2016 56.0 Calls @ 2.17
Sold SVXY May 27 2016 56.0 Calls @ 2.57

$SVXY #CoveredCalls #Rollup #OptionLadder -…

$SVXY #CoveredCalls #Rollup #OptionLadder – rolled some really large positions up because of the typical Friday rally in SVXY
Rolled Apr 15 2016 48.5 Calls to next weeks 49.0 Calls for a 0.40 Credit
Rolled Apr 15 2016 50 Calls to Apr 29 2016 52.0 Calls for an 0.82 Credit
Rolled Apr 15 2016 50 Calls to May 06 2016 53.0 Calls for an 0.89 Credit
Rolled Apr 15 2016 50 Calls to May 13 2016 54.0 Calls for an 0.95 Credit

$SVXY CoveredCalls #Rollup – did…

$SVXY CoveredCalls #Rollup – did these to avoid assignment this week –

Bought to close SVXY Apr 15 2016 51.0 Calls @ 0.31 – originally sold for 2.17 on another roll
Sold SVXY May 06 2016 54.0 Calls @ 1.70 for half the position
Sold SVXY May 20 2016 55.0 Calls @ 2.19 for the other half

$AAPL #CoveredCalls #Rollup – Bought…

$AAPL #CoveredCalls #Rollup – Bought to close Apr 15 2016 112 Calls @ 0.01
Replaced them with AAPL Apr 22 2016 113 Calls @ 0.37.
These expire in a week with the strike price above the recent peak in the stock.

$MRO #ShortCalls #Rollup – Bought…

$MRO #ShortCalls #Rollup – Bought to close MRO Apr 15 2016 13 Calls @ 0.05 (no commission)
Replaced them with MRO Apr 22 2016 14 Calls @ 0.18. These expire in a week with the strike price above the recent peak in the stock.

$NUGT #ShortCalls #Rollup – rolled…

$NUGT #ShortCalls #Rollup – rolled up the only in the money NUGT calls left for this week for a small credit.
Bought to close NUGT Apr 15 2016 46.0 Calls @ 28.85
Sold NUGT Jun 17 2016 51.0 Call @ 28.90
A tough trade to get off but at least I added 5 points to the strike price.

$NUGT #ShortCalls #Rollup – to…

$NUGT #ShortCalls #Rollup – to relieve some margin pressure
Bought to close NUGT JUN 17 2016 72.0 Calls @ 25.83
Sold NUGT SEP 16 2016 90.0 Calls @26.19 – an 18 point bump in the strike price plus a 0.36 credit.

$NUGT #ShortCalls #Rollup – two…

$NUGT #ShortCalls #Rollup – two rolls today for a couple of smallish positions –

Bought to close NUGT APR 8 2016 60.0 Calls @ 11.31
Sold NUGT MAY 6 2016 65.0 Calls @ 12.91 – added 5 points to the strike price plus 1.60 Credit

Bought to close NUGT APR 8 2016 53.0 Calls @ 18.66
Sold NUGT JUN 17 2016 65.0 Calls @ 18.90 – bumped the strike price up 12 points at a 0.24 Credit

$AAPL #CoveredCalls #Rollup – too…

$AAPL #CoveredCalls #Rollup – too close to mess with so I rolled out a week and up a point
Bought to close AAPL Apr 01 2016 110.0 Calls @ 0.01
Sold AAPL Apr 08 2016 111.0 Calls @ 0.59

$SVXY #CoveredCalls #Rollup – I…

$SVXY #CoveredCalls #Rollup – I came into today thinking at least this one would expire. No such luck.

Bought to close SVXY Apr 01 2016 51.5 Calls @ 0.47
Sold SVXY Apr 08 2016 53.0 Calls @ 0.93 – added 1.5 points to my strike price for a nice premium

$NUGT #ShortCalls #Rollup – Trade…

$NUGT #ShortCalls #Rollup – Trade at the open to avoid possible assignment tonight. Surprisingly, this is the only NUGT position I needed to roll this week.

Bought to close NUGT Apr 01 2016 52.5 Calls @ 3.09 – Sold on a previous roll for 17.70

Sold NUGT May 06 2016 64.0 Calls @ 5.64 – I pushed the strike out 5 weeks and up 11.5 points for a 2.55 credit.

SVXY roll

$SVXY #CoveredCalls #IRA #Rollup – Following Iceman…rolled this week’s 48 covered calls out and up to next week’s 49 calls @ .45 credit. Picking up a little cash and another possible point upside in the stock.

$SVXY #CoveredCalls #IRA #Rollup –…

$SVXY #CoveredCalls #IRA #Rollup – Trade at the open to avoid possible assignment tonight –
Bought to close SVXY Apr 01 2016 47.5.0 Calls @ 1.60
Sold SVXY Apr 15 2016 50.0 Calls @ 1.90 – I pushed the strike out 2 weeks and up 2.5 points for a 0.30 credit.

Positions I rolled yesterday were obviously done too early, but I will reap the rewards of those rolls throughout the month of April.

$SVXY #CoveredCalls #IRA #Rollup –…

$SVXY #CoveredCalls #IRA #Rollup – also got this done.

Bought to close SVXY Apr 01 2016 49.0 Calls @ 1.86
Sold SVXY Apr 15 2016 51.0 Calls @ 2.17 – pushed the strike out 2 weeks and up 2 points for a 0.31 credit

$SVXY #CoveredCalls #IRA #Rollup -…

$SVXY #CoveredCalls #IRA #Rollup – got these done too.

Bought to close SVXY Apr 01 2016 48.5 Calls @ 2.23
Sold SVXY Apr 08 2016 49.5 Calls @ 2.43 – pushed the strike out a week and up a point for a 0.20 credit

Bought to close SVXY Apr 01 2016 48.5 Calls @ 1.83
Sold SVXY Apr 22 2016 51.0 Call @ 2.53 – pushed the strike out 3 weeks and up 2.5 points for a 0.70 credit

$SVXY #CoveredCalls #Rollup – rolling…

$SVXY #CoveredCalls #Rollup – rolling up another strike for a credit in an IRA account –
Bought to close SVXY Mar 24 2016 46.0 Calls @ 0.05 (Sold last Friday at 1.63 on another rollup)
Sold to open SVXY Apr 01 2016 48.5 Calls @ 0.35.

$SVXY #CoveredCalls #Rollup – rolling…

$SVXY #CoveredCalls #Rollup – rolling up my strike price again for a credit in an IRA account –
Bought to close SVXY Mar 24 2016 45.5 Calls @ 0.05 (Sold last Friday at 1.76 on another rollup)
Sold to open SVXY Apr 01 2016 48.5 Calls @ 0.26.
The new strike price is right about at this week’s high trade price so I’m fairly sure it will expire.

NUGT #ShortCalls #RollUp- rolled my…

NUGT #ShortCalls #RollUp- rolled my only ITM NUGT position for tomorrow’s expiration for a 0.47 credit and boosted the strike price 5 points.
Bought to close NUGT MAR 24 2016 40.0 Calls @ 15.93
Sold to open NUGT MAY 20 2016 45.0 Calls at 16.40

Waiting on big positions at strike 63 that I’m try to exit for a nickel today

$NUGT #ShortCalls #RollingUP – a…

$NUGT #ShortCalls #RollUP – a couple of rolls in NUGT Calls to avoid assignment today.
Bought to Close NUGT MAR 18 2016 60.0 Calls @ 6.35 / Sold NUGT MAR 24 2016 63.0 Calls @ 6.60
Bought to Close NUGT MAR 18 2016 55.0 Calls @ 11.80 / Sold NUGT Apr 8 2016 60.0 Calls @ 12.58
Net credits on both trades and a big bump in strike price.

$SVXY #CoveredCalls #RollUp – Rolled…

$SVXY #CoveredCalls #RollUp – Rolled this position to next week to avoid assignment.
Added a point to my strike price plus got an extra 0.55 credit for the roll –
Bought to close SVXY Mar 04 2016 41.5 Calls @ 0.32
Sold SVXY Mar 11 2016 42.5 Calls @ 0.87

$NUGT #ShortCalls #Rollup – As…

$NUGT #ShortCalls #Rollup – As VXXKelly and Ramie have been pointing out, NUGT is bound to pull back at some point, or maybe just fall because of the normal drag on these kinds of stocks.
The trick is sticking around long enough to take advantage of the pullback. When rolling an ITM short call position there are two objectives:
1. Bring in more cash on the new position than you spend getting rid of the old position
2. Increase your likelihood of an expiration down the road by selling at a higher strike price
There is no way to predict with accuracy where this stock will go tomorrow much less a month from now, but using the chart you can get a feel for the likely trading range.
I made the following roll today and I think it has a better than even chance of being successful. The new position will not take too much monitoring on my part because it will run for two weeks, and I likely will be able to sell two sets of weekly puts against these calls, bringing in even more premium dollars.

Bought to close NUGT Feb 19 2016 40.0 Calls @ 10.92
Sold to open NUGT Mar 04 2016 42.0 Calls @ 11.55

I have bumped my profit point about 2 1/2 points higher between the higher strike price and the extra premium dollars.

Hope laying out my thinking helps others in a similar circumstance,