#SPXcampaign Sold to Open $SPX Apr 22nd 2000/1975 put spreads for 1.60. This is an extra spread since my first two spreads for this expiry were previously closed with profits.
Tag Archives: SPXcampaign
SPX puts closed
#SPXcampaign – missed this fill from the first hour of trading: Bought to close $SPX Apr 22nd 1910/1885 put spreads for .20. Sold for 1.40 on Mar 22nd.
SPX puts sold
#SPXcampaign Sold to Open $SPX May 13th 1890/1865 put spreads for 1.40. Sold calls at the open and puts at the close.
SPX puts closed, calls sold
#SPXcampaign Bought to close $SPX Apr 14th 2000/1975 puts for .75. Sold for 5.00 on March 23 (as a roll) Closed the roll portion, but still have some of these that were sold for 1.55. Will probably allow to expire or close for .20.
Sold to Open May 13th 2135/2160 call spreads for 1.30.
SPX calls closed
#SPXcampaign Bought to close $SPX Apr 14th 2110/2135 call spreads for .20. Sold for 1.25 on March 16th.
SPX puts sold
#SPXcampaign Sold to Open $SPX May 6th 1915/1890 put spreads for 1.30, with SPX at 2053. Second put spread for this expiry, completing the normal campaign allotment.
SPX puts closed
#SPXcampaign Bought to close $SPX Apr 8th 2015/1980 put spreads for .20. Sold for 1.75 last Thursday. Under threat yesterday, these drained out of premium today and closed.
SPX calls sold
#SPXcampaign Sold to Open $SPX Apr 20th 2110/2135 call spreads for 1.30. These offset the put spread I sold for this Wednesday expiration.
SPX call roll
#SPXcampaign Sold to open $SPX May 6th 2100/2125 call spreads for 5.00. This is a more aggressive position as a roll from previous stopped call spreads. Stop will be if SPX hits 2080.
SPX calls sold
#SPXcampaign Sold to Open $SPX May 6th 2130/2155 call spreads for 1.55, with SPX at 2048.
SPX put-roll sold
#SPXcampaign Sold to Open $SPX April 20th 1980/1955 put spreads for 1.90. These are extra juice to make up for stopped calls. These are Wednesday Weeklys so less liquid than usual.
SPX calls stopped
#SPXcampaign Bought to close $SPX April 14th 2090/2115 call spreads for 4.00. Sold for 2.05 on 3/29. The freight train up has continued so having to stop out of this one since we have broken above the 20-point OTM mark (2070).
SPX puts sold
#SPXcampaign Filled at the low of the day (about 11:15 et), sold to open $SPX May 6th 1925/1900 put spreads for 1.25.
SPX puts closed
#SPXcampaign Bought to close $SPX Apr 22nd 1875/1850 put spreads for .20. Sold for 1.30 on 3/24.
SPX calls sold
#SPXcampaign Sold to Open $SPX Apr 29th 2135/2160 call spreads for 1.35, with SPX at 2068.
SPX puts closed
#SPXcampaign Bought to close $SPX April 14th 1925/1900 put spreads for .20. Sold for 1.30 on March 18th.
SPX day trade closed
#SPXcampaign Bought to close $SPX Apr 1st 2040 put for .20. Sold this morning as part of 2040/2020 put spread for 2.20.
SPX day trade
#SPXcampaign Sold to Open $SPX Apr 1st 2040/2020 put spreads for 2.20. TICKs looking stronger, so taking a shot that we are not collapsing today. We’ve been down .7% and I doubt we’ll exceed that. Breakeven at close would be 2037.80.
SPX puts sold
#SPXcampaign Sold to Open $SPX Apr 29th 1910/1885 put spreads for 1.30, with SPX at 2044.
SPX calls closed
#SPXcampaign Bought to close $SPX Apr 8th 2090/2115 call spreads for 1.75. Sold for 1.25 on March 9th. Sticking to my rules this time and closing this since we came within 20 points of the short strike.
SPX puts sold
#SPXcampaign Sold to Open $SPX Apr 8th 2015/1990 put spreads for 1.75. Somewhat aggressive but continuing with bullish sentiment on this minor pullback.
SPX calls closed
#SPXcampaign Bought to close $SPX April 1st 2075 calls for 2.25. Sold as part of 2075/2100 call spreads for 1.25 on Tuesday. Can’t risk a blast higher on tomorrow’s jobs report. Will try to sell the long 2100’s for a dime or more if we get strength.
Thinking of doing this trade…
Thinking of doing this trade for APR2 SPX 1985/1965 for .40cr. Please let me know your thoughts?
SPX puts sold
#SPXcampaign Sold to open $SPX April 14th (monthly) 2000/1975 put spreads for 1.55. Adding more to this spread, originally sold some for 5.00 last week.
SPX calls stopped
#SPXcampaign Bought to close $SPX April 1st 2070/2095 call spreads for 4.75. Sold for 1.35 on March 1st. Failed to follow my own rules and close this for cheap when I could have. But at least I avoided the panic today when it got above 7.50. Adding to a long list of rolls I’m chipping away at.
SPX call spread in 4/29
Sold $SPX Apr 29 2140/2165 BeCS @ 1.30
#SPXCampaign
SPX puts closed
#SPXcampaign In pre-market, bought to close $SPX April 8th 1950/1925 put spreads for .20. Sold for 1.30 on 3/23.
SPX call spread
Joining the party
Sold $SPX May 6 2140/2165 call spreads @ 1.45
SPX more calls, living on the edge
#SPXcampaign Sold to Open $SPX April 1st 2075/2100 call spreads for 1.25. Still holding a 2070/2095 spread as well but gambling that we won’t be going much higher this week. I could be wrong with an upside warning in effect… crazy markets with S&P, gold, and bonds all UP.
SPX puts closed
#SPXcampaign Bought to close $SPX April 1st 1985/1960 put spreads for .20. Sold for 1.45 last Wednesday.
SPX on Yellen Spike
#SPXcampaign STO $SPX Apr 14th 2090/2115 call spreads for 2.05 (a bit early)
STO $SPX May 27th 2125/2150 call spreads for 4.50, as a roll from previously stopped call spreads.
SPX puts sold
#SPXcampaign Sold to Open April 29th 1880/1855 put spreads for 1.35, with SPX at 2030.
SPX calls closed
#SPXcampaign In pre-market, bought to close $SPX April 8th 2110/2140 call spreads for .20. Sold for 1.25 on March 17th.
SPX calls sold
#SPXcampaign When $SPX popped up to 2041, sold to open $SPX April 29th 2125/2150 call spreads for 1.35
SPX puts closed
#SPXcampaign In Pre-market, Bought to Close $SPX April 8th 1880/1855 put spreads for .20. Sold for 1.25 on March 16th.
SPX calls sold
#SPXcampaign Sold to Open $SPX April 22nd 2100/2125 call spreads for 2.50, with SPX at 2035.
SPX puts sold
#SPXcampaign Sold to Open $SPX April 22nd 1875/1850 put spreads for 1.30, with SPX at 2023.
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.
SPX open and shut
#SPXcampaign STO $SPX April 8th 1950/1925 put spreads for 1.30, with SPX at 2039.
BTC SPX April 8th 2050/2075 call spreads for 9.50, with SPX at 2040. Sold for 8.10 on March 11th when SPX was at 2016. Hopefully the last call spread I need to close. Next highest is 2070 short expiring 4/1.
SPX puts sold
#SPXcampaign Sold to Open $SPX April 1st 1985/1960 put spreads for 1.45.
SPX puts closed
#SPXcampaign Bought to close $SPX April 1st 1925/1900 put spreads for .20. Double-sized position sold for 1.60 last Wednesday.
SPX puts sold
#SPXcampaign Sold to Open $SPX April 22nd 1910/1885 put spreads for 1.40.
SPX further call spread
#SPXcampaign Took a cue from @fuzzballl and sold farther out in time to get beyond all-time highs.
Sold to Open $SPX June 16th 2175/2200 call spreads for 2.75
SPX puts sold
#SPXcampaign Sold to Open April 14th 1925/1900 put spreads for 1.30. With volatility having dropped, I’m resuming more traditional put sales. These are sold on an up day only because we’re seeing no down days lately. Maybe this sales will signal a top!
$NUGT
Went negative on the day. Yeah!
SPX calls closed
#SPXcampaign Bought to close $SPX March 17th 2060 calls for .45. Sold in the 2060/2085 spread for 1.19 on March 7th. Can’t risk leaving this open with morning settlement gap risk.
SPX puts closed, calls sold
#SPXcampaign
Bought to close $SPX March 24th 1950/1925 put spreads for .20. Sold on Monday for 2.05.
Sold to Open $SPX April 8th 2110/2140 call spreads for 1.25. (going 30 its wide since no 2135 strike available)
VIX indicator comes through
At least in the short-term, the VIX Indicator’s Upside Warning is working… albeit pretty late from when the rally started. Many prognosticators saying rally should have been over and we are due for a drop. Could be true, but when the VIX passes below 78.6% Fib line, almost always mean more upside ahead, sometimes violently. I don’t trust this rally, but I respect it for now and can see us getting up to the 2070 or 2080 resistance that Robert posted easily. Above 2100 would be a surprise for me, however. Currently moving any call spreads I can to above 2110. #SPXcampaign
SPX puts closed
#SPXcampaign In pre-market (3:09a ET), bought to close $SPX April 1st 1850/1825 for .20. Sold for 2.00 on March 3rd.
SPX calls sold
#SPXcampaign Going above 2100 for any further sales.
Sold to Open $SPX April 14th 2110/2135 call spreads for 1.25
Sold to Open $SPX May 19th 2125/2150 call spreads for 3.50 (as a roll)
SPX put spread
#SPXcampaign Sold to Open $SPX April 8th 1880/1855 put spreads for 1.30.
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.
SPX calls closed
#SPXcampaign Bought to close $SPX April 1st 2040/2065 call spreads for 7.50. Sold for 8.00 on March 4th as a roll. Small profit on this one, but since my stop level of 20-points OTM (2020) was hit last week, needed to close this and wait for higher prices to replace the roll.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 24th 2025/2050 call spreads for 7.05. Sold for 1.60 on Feb 24th. Using the pullback to kill another threatened spread. This pretty much clears me of problem call spreads, and I will slowly build back positions to recoup losses.
Fat Fingers
#SPXcampaign While trying to set up a GTC order to close for .20, I mistakenly closed the $SPX March 23rd (Wednesday weekly) 2050/2075 call spread for 2.55. Sold for 1.60 last week. Rather than replace immediately, I will wait for next spike in SPX.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 17th 2025/2050 call spreads for 6.50. Sold for 1.50 on Feb 16th. This blew through my STOP on Friday, so needed this pullback for a less painful exit. I’m keeping track of the costs of stops and will work in “rolls” in coming weeks to chip away at the losses premium.
SPX puts sold
#SPXcampaign Sold to Open $SPX March 24th 1950/1925 put spreads for 2.05. Fairly aggressive hedge to my call spreads… if this one gets in trouble I will be happy for the relief.
SPX call spreads hammered
#SPXcampaign Two spreads I had thought would expire hammered me at day’s end. Allowing the 2015 and 2020 calls expire ITM and taking the loss based on settlement. It should be a more favorable price than trying to work the bid/ask spread (especially since IB does not charge for execution).
Will add to my list of rolls for next week.
SPX puts closed
#SPXcampaign Bought to close $SPX March 24th 1825/1800 put spreads for .15. Double position sold for 1.30 on March 1st.
SPX roll calls
#SPXcampaign Sold to Open $SPX April 8th 2050/2075 call spreads for 8.10. Yes, I am still fighting the cup trend… this is a roll from previously stopped call spreads. Stop will be 2030. Will try to exit when price of spread drops below 4.00.
SPX puts closed
#SPXcampaign Bought to close $SPX March 17th 1880/1855 put spreads for .15. Sold last week for 1.01.
SPX calls
#SPXcampaign Sold to Open March 23rd (Wed expiry) 2050/2075 call spreads for 1.50. First try on a Wednesday weekly… that week’s regular weeklys expire on Thursday due to Good Friday holiday, so this is only one day earlier.
SPX calls closed
#SPXcampaign Bought to close $SPX March 11th 2025/2050 call spreads for .15. Sold for 1.50 on Feb 16th. Still short two others for March 11th with shorts at 2015 and 2020; will allow to expire.
Another put spread closed
#SPXcampaign, just noticed this one filled about 52 minutes before the open: Bought to close $SPX April 1st 1735/1710 put spreads for .20. Sold for 1.35 on March 1st.
SPX puts closed
#SPXcampaign In pre-market bounce courtesy of ECB…
Bought to close $SPX March 11 1935/1910 put spreads for .20. Sold on Tuesday for 1.50.
Bought to close $SPX March 17 1850/1825 put spreads for .20. Sold on 2/26 for 2.00.
SPX call spread bonus
#SPXcampaign Sold to Open $SPX March 11th 2015/2040 call spreads for 2.20. Squeezing this one in there, hoping no one notices.
SPX calls
#SPXcampaign Sold to Open $SPX April 8th 2090/2115 call spreads for 1.25.
SPX same week spread
#SPXcampaign Sold to Open $SPX March 11th 1935/1910 puts spreads for 1.50. Expire this Friday unless I close out on next rally up.
SPX puts closed
#SPXcampaign Bought to close $SPX March 11th 1900/1875 put spreads for .20. Sold for 1.80 last Wednesday.
SPX iron condor
#SPXcampaign Unable to sense a true direction, betting that we don’t get a huge break up or down anytime soon. So selling a condor seems best. Will treat each side separately if threatened.
Sold to Open $SPX March 17th 1855/1880/2060/2085 iron condors for 2.20.
Food for Thought:
Vertical Spreads Basics:
Vertical Spreads are Directional plays with predefined risk/reward, normally used as a stock replacement strategy.
Credit spreads have a greater probability of success but higher risk, while debit spreads have a higher reward/less risk.
Credit spreads are better when IV percentile is high while Debit spreads normally work best when the IVp is lower.
TastyTrades Vertical Spreads (credit or debit) Basic Concepts:
https://www.tastytrade.com/tt/shows/tasty-bites/episodes/trading-verticals-06-05-2013
Several other segments talking about credit spreads: (that is a lot of very good free informational education so take a look at it)
https://www.tastytrade.com/tt/search?utf8=%E2%9C%93&search=Credit+spreads&commit=Search
Credit Spread Optimal Setup: (this is a very important segment).
https://www.tastytrade.com/tt/shows/market-measures/episodes/credit-spreads-optimal-premium-levels-10-08-2015
We’ve been placing SPX credit spreads selling Delta 10 and utilizing a spread width from 10 pts. to 25 pts. The reason for this has been that the probability of success is greater the farther out we go; well, that is correct, but only when we hold the position to the end, win or lose.
However, on a Delta 10, 25 pts. spread on the SPX we risk $2,250 to make $150. So to avoid such a big loss, we mostly bail when the loss exceeds 2.5 or 3X the max profit. Once we do that the probabilities of success are not what we expect, but a lot less. So we are shortchanging and lying to ourselves believing that we are trading a high probability, non-directional strategy.
On the last link above, the guys at TT show the right way to trade this strategy.
They go out to 40-45 DTE and use a spread width equal to 2.5% of the price of the underlying and Sell at Delta 30 and get a premium greater than 20% of max loss.
On the SPX the spread width of 2.5% is 50 pts spread. 2000 X 0.025 = 50.
So with the SPX trading at 2000 as per Friday’s Mar 4th 2016 close, to sell a BeCS we will go to Apr monthly and sell the 2045 at $15.30 and buy the 2095 for $2.80 for a credit of $12.50.
Max loss = 5000 – 1250 = 3,750.
Prob. of Success = 3,750 / 5000 = 75%.
I believe this makes more sense.
What do you guys think?
SPX call roll
#SPXcampaign Changed my mind and decided to roll into a new call spread. This one will have a short leash… stop will be at or before 2020.
Sold to Open $SPX April 1st 2040/2065 call spreads for 8.00, with SPX at 2008.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 17th 2005/2030 call spreads for 11.00. Sold for 5.50 on Tuesday as a roll. That was a painful one I had to chase after missing this morning’s lows. With VIX going lower, I cannot roll up at this time. I have to save rolls for much higher SPX levels, or if VIX reverses upward.
SPX puts closed
#SPXcampaign Bought to close $SPX March 24th 1750/1725 put spreads for .20. Sold for 1.35 on 2/23.
SPX put spread
#SPXcampaign Sold to Open $SPX April 1st 1850/1825 put spreads for 2.00. Slightly more aggressive than usual since I’m treating as a partial roll from stopped call spreads.
Options Bistro 