#SPXcampaign In Pre-market, bought to close $SPX Oct 28th 2000/1975 put spreads for .20. Sold for 1.35 on Sept 26th.
Sold to Open $SPX Nov 17th 2225/2250 call spreads for 1.55, with SPX at 2143.
Tag Archives: SPXcampaign
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 28th 2200/2225 call spreads for .20. Sold for 4.50 on Oct 5th.
SPX call spreads closed
#SPXCampaign BTC Nov 4 $SPX 2220/2245 call spreads closed @ 0.20, STO @ 1.60 on Oct 10.
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 17th 1960/1935 put spreads for 1.50, with SPX at 2127.
I am still selling put spreads, even with a Downside Warning in effect. Everything has remained fairly orderly in the SPX so I’m not spooked yet. I will take profits early or stop out if anything violent starts happening.
SPX puts sold, puts closed
#SPXcampaign Sold to Open Nov 11th 1980/1955 put spreads for 1.30, with SPX at 2137.
Earlier: Bought to close $SPX Oct 20th 2050/2025 put spreads for .20. Sold for 1.30 on Sept 22nd.
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 11th 2220/2245 call spreads for 2.00, with SPX at 2144.
SPX next-day spread closed same day
#SPXcampaign Bought to close $SPX Oct 14th 2090/2065 put spreads for .40. Sold 2.5 hours ago for 2.10.
Overcoming fear
It’s the toughest thing about trading, and nothing has provided a bigger leap away from fear than my recent experience of managing an ITM call spread. I was short the August 2130/2155 call spread as the SPX reached all time highs of 2193. It was a big trade, too, over twice my normal size, and it sucked as the index went through my strikes (I had already rolled several call spreads, but let this one sit). But as it sat there ITM for days and then weeks, I grew more relaxed and started exploring ways to roll my way out. I figured a system, without increasing position size, and started rolling it one week before it expired. All it would take is a decent pullback or two and I’d be out. It took about 6 rolls and now I’m out with no loss, in fact retaining the profit I expected on the original trade.
Going ITM and realizing max loss seems to be a great fear for many option traders. To help overcome it, I suggest trading an ITM spread on an index. Indices do not have huge overnight gaps like stocks, and there is no possibility of early assignment, as they are cash settled at expiration, never earlier. Your risk never changes, whether you are 100 points OTM or 100 points ITM (except with Portfolio Margin, which is unpredictable).
Today, I sold a 1-lot:
Sold to Open $SPX Nov 25th 2175/2150 put spread for 14.00. I will wait until mid November to even worry about it. It will be similar to having a trade go against you, except we now have the benefit of a very fat credit upon entry, rather than the 1.30 or so for which we usually sell these spreads.
Feel free to join if you are looking to overcome some of your fear. If you do it, understand that if it remains ITM in November, we may be selling condors or extra options during the rolls. But as before, I do not plan to increase risk very much. #SPXcampaign #FearTrade #ITMrolling
Fat fingered stop
#SPXcampaign I was holding the $SPX Oct 19th 2100/2075. My stop was the September lows, so when we broke that this morning, I considered closing it. I entered a stop price of 5.40, but did not want to submit the trade until I saw how the bounce would act. Well, guess what? I mistakenly submitted it.
As many expected, the 2120 area held (so far). But it’s done, so I decided to roll into an iron condor with the same expiration and same number of contracts. No doubt risky, probably more to the upside. But I will roll either side, if either are threatened.
Stopped: Bought to close SPX Oct 19th 2100/2075 put spreads for 5.40. Sold for 2.75 last Thursday.
Rolled to: Sold to Open SPX Oct 19th 2055/2080/2150/2175 iron condors for 5.25. Paid a .15 debit on the roll, but that’s okay since I brought in a heft 2.75 on the initial sale.
SPX next-day puts sold
#SPXcampaign — risky as we are still dropping…
Sold to Open $SPX Oct 14th 2090/2065 put spreads for 2.10, with SPX at 2115.
SPX call spreads closed
#SPXcampaign Bought to close $SPX Nov 4th 2235/2260 call spreads for .20. Sold last week for 1.40.
VIX Indicator and SPX Charts have been updated
The VIX came within .06 of firing a second signal today. This does not mean that if it had done that, there would be a much greater chance of a correction… it’s just sticking with the rules and trading by them. No Warning yet means remain cautious but continue the #SPXcampaign as normal… sell both call and put spreads, roll if stops are hit, and close for 80-90% of max profit.
SPX condor roll sold
#SPXcampaign #CondorRoll
Sold to Open $SPX Nov 11th 1900/1925/2225/2250 iron condors for 2.00. This is a roll from earlier stopped spread, at 1.5x position size.
SPX puts stopped
#SPXcampaign This one hit the 3.00 stop level: Bought to close $SPX Nov 4th 2050/2025 put spreads for 2.80. Sold last Friday for 1.85. Will look to roll today or tomorrow.
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 28th 2230/2255 call spreads for .20. Sold for 1.30 on Sept 27th.
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 11th 2000/1975 put spreads for 1.30, with SPX at 2156.
SPX calls closed
#SPXcampaign In Pre-Market, bought to close $SPX Oct 14th 2185/2210 call spreads for .80. Sold for 7.60 on Sept 28th. I’m nearing the end of my ITM rolling, recouping all losses from a few spreads that went completely ITM over the summer.
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 11th 2240/2265 call spreads for 1.55, with SPX at 2169.
SPX puts sold
#SPXcampaign STO Nov 4 2220/2245 call @ 1.60, SPX @ 2168, coupled with SPX Nov 4 2000/1975 put @ 1.40 sold on Oct 4 now an iron condor.
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 19th 2210/2235 call spreads for .20. Sold last Friday for 2.10.
SPX call spread sold
#SPXcampaign Sold to Open $SPX Nov 4th 2215/2240 call spreads for 1.65. Tried selling the 2220 short spread this morning for 2.00 on the pop up, but missed the fill and watched my dreams dissolve away.
Next week I’ll be selling Nov 11th spreads, starting with calls first thing Monday.
SPX Put sold
#SPXcampaign STO $SPX Nov 4th 2020/1995 put spreads for $1.50 when SPX at 2145
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 28th 2235/2260 call spreads for .20. Sold for 1.25 on Sept 28th.
SPX puts sold, calls closed
#SPXcampaign Sold to Open $SPX Nov 4th 2050/2025 put spreads for 1.85
Bought to close $SPX Oct 20th 2225/2250 call spreads for .20. Sold for 1.55 on Sept 19th.
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 19th 2100/2075 put spreads for 2.75. This is an extra spread to offset my call spread with the same expiry. I will stop and roll if we break the Sept 12th low of 2119.
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 20th 2225/2250 call spreads for .20. Sold for 1.55 on Sept 19th.
SPX call spreads sold
#SPXcampaign STO $SPX Oct 28 2205/2230 put spreads @ 2.85 got in a little later than jeff and moved 5 pts up with SPX @ 2160. Makes this an Iron Condor with 2000/1975 put spreads 1.35 sold Sep 26.
Thanks, Jeff.
SPX calls sold
#SPXcampaign Sold an extra call spread above all time highs:
Sold to Open $SPX Oct 28th 2200/2225 calls for 4.50, with SPX at 2163.
SPX puts closed
#SPXCampaign BTC $SPX Oct 14 2035/2010 puts @ .20 sold on Sep 26 @ 1.35.
The importance of Monday morning premium
#SPXcampaign On Monday in the first hour of trading, the market was down less than half a percent. I sold the Nov 4th 2235/2260 call spread for 1.40 on an uptick to 2162. 33 days until expiration.
In the first hour today, 31 days to expiration, our intraday high was just below 2162. The same spread topped out at about 80 cents.
I have seen this constantly with call spreads… Monday morning premium is highly elevated, and drops quickly by Monday afternoon. Provided there are no large moves in SPX, theta makes quick work of the premium. This is less dramatic with put spreads, and I have not tested it as much with different expirations (just the 30-35 DTE range).
This is why that I sold that call spread even though the market was down.
#SPXcampaign BTC SPX 2190/2215 BeCS…
#SPXcampaign BTC SPX 2190/2215 BeCS OCT7 2016 for 0.30 sold it on 9/30 for 3.55. Thank you Jeff for the idea
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 4th 2010/1985 put spreads for 1.45, earlier when SPX dipped to 2153.
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 14th 2220/2245 call spreads for .20. Sold for 1.60 on Sept 14th.
My order to sell a put spread was surprisingly not filled on that drop.
SPX call spreads closed
#SPXcampaign
BTC Oct 7 2200/2225 calls @ .20, STO @ 1.50 on Sep 30
BTC Oct 14 2200/2225 calls @ .20, STO @ 1.45 on Sep 19
More SPX puts closed
#SPXcampaign Bought to close $SPX Oct 20th 1975/1950 put spreads for .20. Sold for 1.30 on Sept 20th.
SPX puts closed
#SPXcampaign Bought to close $SPX Oct 14th 2025/2000 put spreads for .20. Sold for 2.10 on Sept 9th.
SPX puts closed. SVXY trade
#SPXcampaign Bought To Close $SPX Oct 7 2065/2040 put spreads @ .15, sold to open Sep 9 @ 2.15.
Sold To Open $SVXY Jan 17 45 puts @ 2.30. Thanks jsd501
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 14th 2225/2250 call spreads for .20. Sold for 1.30 on Sept 12th.
SPX calls sold
#SPXcampaign Mondays are a great day to sell the 5-week-out call spreads, even if the market is down a bit. Sold to Open $SPX Nov 4th 2235/2260 call spreads for 1.40, with SPX at 2162.
More calls sold
#SPXcampaign Sold to Open $SPX Oct 7th 2190/2215 call spreads for 3.50. Expire next Friday (or will be rolled if rally continues).
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.
SPX put roll closed
#SPXcampaign Bought to close $SPX Oct 14th 2100/2075 put spreads for 3.35. Sold for 2.10 last Thursday. This one hit my 4.00 stop on Monday and again today, and you don’t have to tell me twice… okay, maybe you do, but you don’t have to tell me three times to get out when stops are hit.
SPX condor corrupted
#SPXcampaign Bought to close Sept 30th 2050/2030 put spreads for 4.30. Sold a couple hours ago with a call spread for 1.50. Quick loss, but that’s the risk of these short-term trades. Will look to roll.
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 28th 2020/1995 put spreads for 1.30, with SPX at 2158.
And a minute later it’s at 2153. Whoa.
SPX overnighter
#SPXcampaign Sold to Open $SPX Sep 30 2130/2125 put spread @ .25 SPX @ 2160
SPX next day condor
#SPXcampaign Sold to Open $SPX Sept 30th 2130/2150/2185/2205 iron condors for 1.50. Expire tomorrow. Thanks @rknight52 for the inspiration.
SPX calls sold
#SPXcampaign Sold to Open $SPX Oct 28th 2235/2260 call spreads for 1.25, with SPX at 2171.
SPX call rolling
#SPXcampaign This is a partial roll of the ITM roll that’s going into its third month. At least now I am selling OTM spreads, albeit pretty close.
Sold to Open $SPX Oct 14th 2185/2210 call spreads for 7.60.
I closed a spread last week for 13.75. Sold a 2.00 put spread and now this, so 9.60 total and 4.25 more to go.
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 7th 2215/2240 call spreads for .20. Sold for 1.50 on Sept 9th.
SPX puts closed
#SPXcampaign Bought to close $SPX Oct 14th 1980/1955 put spreads for .20. Sold for 1.50 on Sept 16th.
SPX call spread sold
#SPXcampaign Sold to Open $SPX Oct 28th 2230/2255 call spreads for 1.30, with SPX at 2159.
SPX calls spreads closed
#SPXcampaign Bought to close $SPX Oct 5th 2215/2240 call spreads for .20. Sold for 1.75 on Sept 12th.
Bought to close $SPX Sept 28th 2190/2215 call spreads for .20. Sold for 4.50 on Sept 9th.
SPX put spreads
#SPXcampaign Sold to Open $SPX Oct 28th 2000/1975 put spreads @ 1.35, with SPX @ 2151. Makes an Iron Condor with Oct 28 2245/2270 call spreads @ 1.50 STO on Sep 22. Thanks Jeff
Bought to Close $SPX Oct 7 2225/2250 cake spreads @ .20, STO on Sep 12 @ 1.60
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 28th 2000/1975 put spreads for 1.35, with SPX at 2151.
SPX ITM rolls
#SPXcampaign The Position chart is now updated.
Yesterday I had to stop out of this week’s 2165/2190 for 13.75. I didn’t get filled on attempts to roll to a new call spread. The only partial reverse-roll I got was:
Sold to Open $SPX Oct 14th 2100/2075 put spreads for 2.10.
Was hoping for more strength this morning to get a call spread… will do my best to make up the premium.
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 20th 2050/2025 put spreads for 1.30, earlier when SPX was at 2173.
$SPX call spreads sold
#SPXcampaign – Sold To Open SPX Oct 28 2245/2270 calls @ 1.50 with SPX at 2176
SPX put spreads closed
#SPXcampaign Bought To Close Oct 14 1940/1915 put @ .15 sold on Sept 13 @ 1.35
Every time I’m almost out, they pull me back in
Well, looks like the ITM rolling goes on. Was previously able to roll my ITM call spread up to a 2165 short… It went ITM again this morning, and this close to expiration I cannot wait to see how the week will end as the spread price will increase very quickly if SPX continues to rise.
Bought to close $SPX Sept 23rd 2165/2190 call spreads for 13.75. Sold for 6.00 last week.
I will look to roll into a condor later this morning. Another week, another roll!
SPX puts closed
#SPXcampaign
Bought to close $SPX Oct 7th 1980/1955 put spreads for .20. Sold for 1.80 on Sept 13th (as a roll).
Bought to close $SPX Oct 7th 2000/1975 put spreads for .20. Sold for 1.33 on Sept 9th.
Bought to close $SPX Oct 14th 1950/1925 put spreads for .20. Sold for 1.33 on Sept 13th.
SPX calls sold
#SPXcampaign Sold to Open $SPX Oct 20th 2230/2255 call spreads for 1.50, with SPX at 2164.
SPX puts drained
#SPXcampaign The Sept 23rd 2090/2065 put spread i sold 1.70 ninety minutes ago is now going for .25. I love the smell of fear in the markets.
Also: Bought to close $SPX Sept 30th 2010/1985 put spreads for .20. Sold for 1.30 on Sept 1st.
SPX same-week puts sold
#SPXcampaign Sold to Open $SPX Sept 23rd 2090/2065 put spreads for 1.70, with SPX at 2142. Expire in two days unless the world explodes.
SPX puts rich
#SPXcampaign Put premiums on Options expiring this Friday are pretty rich. I’m selling the Sept 23rd 2090/2065 spread… asking 1.80.
I believe today’s announcement will lead to near-term upside. But even if I’m wrong and we drop, I don’t think 2090 is in danger by Friday’s close. If I’m wrong, I will roll.
SPX puts sold
#SPXcampaign At 12 minutes after the close, sold to open $SPX Oct 20th 1975/1950 put spreads for 1.30, on the dip in SPX below the day’s closing price.
SPX puts closed
#SPXcampaign Earlier, bought to close $SPX Sept 23rd 2040/2015 put spreads for .20. Sold for 1.40 on Aug 26th.
SPX trades
#SPXcampaign Sold to Open $SPX Oct 14 2220/2245 call spreads @ 1.45 – SPX @ 2152, completes SPX iron condor with 1940/1915 put spreads @ 1.35 opened on Sep 13.
Bought to Close $SPX Sept 19 2160/2165 call spreads @ .25, opened on Friday @ .35 , penetrated my 20 point comfort cushion.
SPX calls sold
#SPXcampaign Sold to Open $SPX Oct 20th 2225/2250 call spreads for 1.55, with SPX at 2148.
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 7th 2240/2265 call spreads for .20. Sold for 1.55 on Sept 6th.
SPX puts sold
#SPXcampaign Sold to open $SPX Oct 14th 1980/1955 puts for 1.50, with SPX at 2133.
SPX call sold
#SPXcampaign Selling some extra call spreads above all time highs.
Sold to Open $SPX Oct 14th 2220/2245 call spreads for 2.30 (adding to this one at higher premium)
Sold to Open $SPX Sept 30th 2210/2235 call spreads for 1.75
SPX calls closed
#SPXcampaign Bought to close $SPX Sept 30th 2235/2260 call spreads for .20. Sold for 1.50 on Sept 2.
SPX put roll sold
#SPXcampaign Sold to open $SPX Oct 7th 1980/1955 put spreads for 1.80, with SPX at 2124. This is a roll from Sept 30th put spreads stopped on Friday for 2.60. I used 1.5x position size for a small overall credit on the roll.
SPX Put spreads sold
#SPXcampaign Sold to Open $SPX Oct 14th 1940/1915 put spreads @ 1.35, with SPX @ 2126
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 14th 1950/1925 put spreads for 1.35, with SPX at 2129.
Options Bistro 