#LongCalls #CoveredCalls #LEAPS #ShortPuts – Been a slow couple weeks with the rally and being busy at work. Pretty much all hands on deck to keep things going with this crazy weather! Rolling some covered calls and ratio’d short calls against LEAPS and booking a couple winners for safety. Haven’t been adding anything new…just working with what I’ve got and trying to streamline things a little and be better about adding anything.
AMAT: Ratio’d and rolling just a week to stay prior to earnings.
Rolled AMAT FEB 1 2019 36.0 Calls to FEB 8 2019 36.0 Calls @ .10 credit
LABU: One contract DITM roll below basis…my least favorite position right now but can roll as long as needed.
Rolled LABU FEB 15 2019 35.0 Call JUN 21 2019 40.0 Call @ .01 credit
SMH: Ratio’d roll. Trying to stay as short term as possible.
Rolled SMH FEB 8 2019 91.0 Calls to FEB 22 2019 91.5 Calls @ .17 credit
SOXL: This was ITM not long ago so booking it. Sell again on next pullback.
Bought to Close SOXL FEB 15 2019 75.0 Put at .55 (sold for 3.50)
TNA: Big rally so rolling ratio’d and covered.
Rolled TNA FEB 8 2019 48.5 Calls to FEB 22 2019 49.0 Calls @ even (LEAPS position)
Rolled TNA FEB 1 2019 50.0 Calls to MAR 15 2019 52.0 Calls @ .20 credit (covered)
TQQQ: Added to LEAPS a few days ago so this is ratio’d now.
Rolled TQQQ FEB 8 2019 40.5 Calls to FEB 22 2019 41.0 Calls @ .06 credit
Rolled TQQQ FEB 15 2019 40.0 Call to MAR 15 2019 41.0 Call @ .20 credit (covered)
URI: Book it!
Bought to Close URI FEB 15 2019 105.0 Put @ .20 (sold for 2.30)
UVXY: Rolling short ratio’d puts down. Long LEAP puts working great. This works as a nice hedge on volatility spikes.
Rolled UVXY FEB 15 2019 70.0 Puts to MAR 15 2019 68.0 Puts @ .10 credit
XBI: Ratio’d roll.
Rolled XBI FEB 1 2019 78.0 Calls to FEB 22 2019 79.0 Calls @ .06 credit.
Obviously if I’d seen the Powell capitulation coming I’d not have sold any covered calls. Rolling working fine but capping upside (but giving a nice hedge also). These are all long term positions so working fine. Ratio’d short calls selling below LEAPS is a must. That way the rolls can be gradual since small to no upside risk.
Options Bistro 