Tag Archives: ShortStrangles

fuzzballl 8:32 am on Thursday, June 22, 2017
Tags: ShortStrangles   

REGN…now the bad

#ShortStrangles – What a move! I sure didn’t see a two month 200 point move in a 350 dollar stock coming. Had something like 350/450 strangles when this thing took off. Rolled the 450 out to Sep and started rolling the 350 up as she climbed. Wasn’t nearly aggressive enough and kept getting further behind. Finally bailed on the whole thing yesterday when I heard new health care proposal could be pretty friendly to drug companies.

Long story short…gave back all of my REGN profits for the year plus about another 25 points. Being hard headed, I’ll set that aside and look to get it back on next pullback. Grrr…hate getting thumped by one of my all time favorite tickers. I thought we were friends!

fuzzballl 7:35 am on Thursday, June 22, 2017
Tags: , ShortStrangles   

TSLA

#ShortStrangles – Making an adjustment but adding a little downside protection…

Started out as a Jan 2018 175/500 strangle @ 6.10 credit
Rolled 175 to 250 @ 7.40 credit

Today rolled 250 to a 300/200 bull put spread @ 6.27 credit.

Position now 300/200 BuPS against 500 call @ 19.77 credit.

Can this thing see 500 by Jan 2018? TOS says 85 percent chance it won’t get there and a 70 percent chance 300 won’t get hit so still slightly higher downside risk.

#perpetualrollingstrangles

fuzzballl 7:18 am on Thursday, June 22, 2017
Tags: ShortStrangles   

WYNN

#ShortStrangles – Replacing this week’s expiration…still selling against ITM calls.

Sold WYNN JUN 30 2017 135.0 Puts @ 1.35

fuzzballl 9:50 am on Tuesday, June 20, 2017
Tags: , RiskReduction, ShortStrangles   

EWZ

#RiskReduction #ShortStrangles – It’s been a pretty good ticker this year so not gonna press my luck with the weakness today. Keeping my long term position in the #IRA but closing the nearer term strangles for small profit.

Bought to Close EWZ JUL 21 2017 31.0/37.0 Strangles @ .67 (sold for .82)

fuzzballl 11:17 am on Friday, June 9, 2017
Tags: ShortStrangles   

ISRG adjustment

#ShortStrangles – Finally getting a little weakness in this thing.

Rolled this week’s 930 put to next week’s 925 @ .10 credit.

Sold against Jul 14th 885 call…

fuzzballl 8:17 am on Friday, June 9, 2017
Tags: ShortStrangles   

XBI first timer

#ShortStrangles – Thanks to @hcgdavis for reminding me of this one. More premium and lower margin than my IBB strangles…

Sold 5 XBI JUL 21 2017 68.0/78.0 Strangles @ 1.20

For comparison selling the same deltas in IBB in July would be:

IBB 285/315 @ 3.65

One IBB strangle vs five in XBI is same margin (2800) with XBI bringing in nearly 70 percent more premium…

fuzzballl 8:04 am on Friday, June 9, 2017
Tags: ShortStrangles   

IBB

#ShortStrangles – Finally out of this after quite a bit of rolling (for credit). Moving this margin allotment over to XBI. Think it’s a little more bang for the buck.

Bought to Close IBB JUN 16 2017 295.0/305.0 Strangle @ 2.23 ( sold for 10.56)