SPX hedge through April

With my current #RocketManHedge looking like it has a good chance of turning a decent profit ( in spite of moving against me from almost the first day) I’m adding another out about 90 days.

#SyntheticShort out through April expiration…

Synthetic short stock with a protective call. 49.00 debit with max loss of 59.00:

Sold SPX APR 20 2018 2800.0 Call @ 57.55
Bought SPX APR 20 2018 2800.0 Put @ 54.90
Bought SPX APR 20 2018 2810.0 Call @ 51.65

With 13 weeks for the trade to run need to collect 4.55 per week to cover the max loss so:

Sold SPX JAN 24 2018 2785.0 Put @ 8.00

VXX

#SyntheticShort – With VXX going away I’m closing this short down. No where to roll the short puts and a big volatility spike might not leave time for it to come back down. Turned out pretty good since I had fewer short puts than synthetic short stock. Re-load on next UVXY split…

Sold to Close 13 VXX Jan 2019 50/50/55 synthetics and Bought to Close 9 VXX JAN 18 2019 28.0 Puts

Net gain on each synthetic of 3.85. Not great but worth the margin for sure…

NUGT

#SyntheticShort – Out most of yesterday afternoon and late into the night. Managed to beat the cyclone into JFK. Get me back to Florida please! Just a beautiful day here. Had a fill yesterday adding to NUGT short and closed front month short puts this morning.

Added Jan 2019 32/32/34 synthetic short/disaster calls @ 9.40 (previously 10.08 at same strikes)

Bought to Close NUGT JAN 5 2018 29.5 Puts @ .03 (sold for .36)

AGQ

Started the #SyntheticShort NUGT trade recently on the gold rally. Silver running too so pulling this one out of the dust bin and watching it again to possibly add a short silver position eventually. Looking at the 36 level for an entry with an add at 40.

NUGT

#SyntheticShort – Thing’s been on a nice run right up to the 200ma so easing back into a short position. Starting out with about a 40 percent position and going out to Jan 2019. Long GLD so this is a nice hedge that I rode down last time too. I’ll be looking to add the rest of this at NUGT 40 and 45 if we get there…

Sold to Open NUGT JAN 18 2019 32.0 Calls @ 9.04
Bought to Open NUGT JAN 18 2019 32.0 Puts @ 10.69
Bought to Open NUGT JAN 18 2019 34.0 Calls @ 8.43

Net debit of 10.08 with max loss of 12.08. With 55 weeks for the trade to run need to average 22 cents per week to cover worst case scenario.

So:

Sold NUGT JAN 5 2018 29.5 Puts @ .36

NUGT

#SyntheticShort – This was another one that got run over to the downside. Learning my lesson here…LOL With it starting to bounce a little I’m booking it for a small profit and looking to reset on the next run higher.

Sold to Close NUGT 42 synthetic short and 47 disaster calls
Bought to Close NUGT 20 puts

These were all in the same expiration since I had rolled the short puts out and down after the initial imoplosion (right after setting the trade of course!)

All said and done made 50 cents on a 10 lot but learned a whole lot more! Now I’m a cheerleader….gold to 1500!

SPX hedge through March

With my current #RocketManHedge looking like it has a good chance of turning a decent profit ( in spite of moving against me from almost the first day) I’m adding another out about 90 days. This one is slightly more expensive since I’m setting up a little above the market but giving it a couple extra weeks to make up the difference.

#SyntheticShort -A little hedge out through March expiration…

Synthetic short stock with a protective call. 49.00 debit with max loss of 54.00:

Sold SPX MAR 16 2018 2670.0 Call @ 46.23
Bought SPX MAR 16 2018 2670.0 Put @ 51.97
Bought SPX MAR 16 2018 2675.0 Call @ 43.26

Need to collect 4.15 per week to cover the max loss so:

Sold SPX DEC 18 2017 2650.0 Put @ 5.40

Selling Monday and then looking to double up on the following Friday…

#fuzzybear