MSFT NVDA SOXL SPY TBT TLT TQQQ XBI

#ShortPuts #CoveredCalls #SyntheticStock #SyntheticShortStock – An interesting week. Lots of SPY covered call rolls and very nice profits on aggressive NVDA short puts. Another fun week with a little bit of eveything.

MSFT: Taking it a week early.

Bought to Close MSFT NOV 18 2022 225.0 Put @ .33 (sold for 4.40)

NVDA: Earnings next week. Staying aggressive on the put side against in the money covered calls.

Bought to Close NVDA NOV 11 2022 150.0 Put @ .05 (sold for 6.80)
Bought to Close NVDA NOV 11 2022 155.0 Puts @ .01 (sold for 14.20 and 9.15)

Sold NVDA NOV 18 2022 165.0 Put @ 10.15

Balancing out overall position slightly with earnings next week.

Bought to Close 1 NVDA NOV 18 2022 140.0 Call and Sold 2 NVDA NOV 18 2022 167.5 Puts @ 1.50 credit

SOXL: Sold against 2024 and 2025 long calls.

Rolled SOXL NOV 18 2022 9.5 Calls to DEC 16 2022 10.0 Calls @ .09 credit (.45 total now)

SPY: Got some decent rolls first thing this morning. One new sale and one assignment.

Sold SPY NOV 18 2022 390.0 Put @ 3.50

Stock called away @ 377.0 (366.0 basis and many calls sold against last few months)

Rolled SPY NOV 11 2022 378.0 Calls to NOV 18 2022 379.0 Calls @ .05 credit (3.80 and 6.65 total now)

Rolled SPY NOV 11 2022 381.0 Call to NOV 25 2022 384.0 Call @ even (3.05 total now)
Rolled SPY NOV 11 2022 382.0 Call to NOV 25 2022 385.0 Call @ .10 credit (3.60 total now)

Rolled SPY NOV 11 2022 379.0 Call to DEC 2 2022 383.0 Call @ even (3.75 total now)
Rolled SPY NOV 11 2022 379.0 Call to DEC 2 2022 383.0 Call @ .21 credit (4.50 total now)
Rolled SPY NOV 11 2022 380.0 Call to DEC 2 2022 384.0 Call @ .50 credit (2.85 total now)
Rolled SPY NOV 11 2022 380.0 Calls to DEC 2 2022 384.0 Calls @ .24 credit (3.75 and 6.75 total now)
Rolled SPY NOV 11 2022 381.0 Call to DEC 2 2022 385.0 Call @ .60 credit (4.45 total now)
Rolled SPY NOV 11 2022 382.0 Call to DEC 2 2022 387.0 Call @ .18 credit (3.85 total now)
Rolled SPY NOV 11 2022 383.0 Call to DEC 2 2022 388.0 Call @ .37 credit (2.65 total now)

Rolled SPY NOV 11 2022 377.0 Call to DEC 16 2022 385.0 Call @ even (2.45 total now)
Rolled SPY NOV 11 2022 378.0 Call to DEC 16 2022 386.0 Call @ .20 credit (3.90 total now)

TBT: Sold against synthetic short stock and 2025 long puts.

Rolled TBT NOV 11 2022 35.5 Puts to NOV 18 2022 35.0 Puts @ even (.60 total now)
Rolled TBT NOV 11 2022 36.0 Puts to NOV 25 2022 35.5 Puts @ .02 credit (.70 total now)

Bought to Close TBT NOV 11 2022 34.5 Puts @ .40 (sold for .33 stopped for small loss)

TLT: Covered and stopped at even.

Bought to Close TLT NOV 11 2022 97.5 Calls @ .45

TQQQ: Covered.

Rolled TQQQ NOV 11 2022 19.5 Calls to DEC 16 2022 21.0 Calls @ .16 credit (.55 total now)

XBI: Another good week in this one.

Bought to Close XBI NOV 11 2022 81.0 Put @ .05 (sold for 2.90)
Bought to Close XBI NOV 11 2022 81.5 Puts @ .05 (sold for 3.05)

Sold XBI NOV 18 2022 82.0 Puts @ 1.20
Sold XBI NOV 18 2022 83.5 Puts @ 2.00

Rolled XBI NOV 11 2022 79.5 Calls to NOV 18 2022 80.5 Calls @ .05 credit (1.55 total now)

ADBE AMZN NVDA SPY TBT TLT XBI

#ShortPuts #CoveredCalls #SyntheticShortStock #SyntheticStock #SyntheticDividends – A little bit of everything.

ADBE: Back in it. Earnings not until mid Dec.

Sold ADBE NOV 18 2022 270.0 Put @ 3.80

AMZN: Sold next week’s yesterday…against 2025 synthetic stock.

Bought to Close AMZN NOV 4 2022 100.0 Calls @ .01 (sold for 2.25 and 3.00)

NVDA: A few more. Lots of different positions in this one. Closed, sold and rolled. Aggressive puts sold against an overwrite of covered calls.

Bought to Close NVDA NOV 4 2022 135.0 Put @ .05 (sold for 6.10)
Sold NVDA NOV 11 2022 145.0 Put @ 6.50

Rolled NVDA NOV 4 2022 140.0 Put to NOV 11 2022 140.0 Put @ 3.50 credit (9.55 total now)

SPY: A little bit of everything.

Bought to Close SPY NOV 4 2022 380.0 Call @ .05 (sold for 5.90)
Bought to Close SPY NOV 4 2022 384.0 Call @ .04 (sold for 2.85)

Sold SPY NOV 7 2022 376.0 Call @ 3.39
Sold SPY NOV 11 2022 382.0 Call @ 3.50

Rolled SPY NOV 4 2022 380.0 Put to NOV 11 2022 380.0 Put @ 3.75 credit (9.65 total now)

TBT: Added to Jan 2025 synthetic short stock. Selling near term against.

Sold TBT JAN 17 2025 36.0 Calls – Bought TBT JAN 17 2025 36.0 Puts @ .50 credit (synthetic short)

Bought to Close TBT NOV 4 2022 34.0 Puts @ .01 (sold for .32)
Bought to Close TBT NOV 4 2022 34.5 Puts @ .01 (sold for .43)

Sold TBT NOV 11 2022 34.5 Puts @ .33
Sold TBT NOV 11 2022 35.5 Puts @ .60
Sold TBT NOV 11 2022 36.0 Puts @ .70

TLT: Collecting another nice synthetic dividend.

Bought to Close TLT NOV 4 2022 100.0 Calls @ .01 (sold for .95)
Sold TLT NOV 11 2022 97.5 Calls @ .45

XBI: Another good week in this one

Bought to Close XBI NOV 4 2022 79.5 Calls @ .05 (sold for 2.40)
Sold XBI NOV 11 2022 79.5 Calls @ 1.50

Letting some early assignment stock go @ 78.5 (basis 78.15)
Replacing with:
Sold XBI NOV 11 2022 81.0 Put @ 2.90

Rolled XBI NOV 4 2022 81.5 Puts to NOV 11 2022 81.5 Puts @ 1.05 credit (3.05 total now)
Rolled XBI NOV 4 2022 82.5 Puts to NOV 11 2022 82.5 Puts @ .77 credit (2.90 total now)
Rolled XBI NOV 4 2022 83.0 Puts to NOV 11 2022 83.0 Puts @ .64 credit (3.00 total now)
Rolled XBI NOV 4 2022 84.0 Puts to NOV 11 2022 84.0 Puts @ .45 credit (3.05 total now)

ARKK NVDA SPY TBT TLT TQQQ

#ShortPuts #ShortCalls #CoveredCalls #SyntheticShortStock – A little bit of everything.

ARKK: Another round.

Bought to Close ARKK OCT 21 2022 38.5 Calls @ .05 (sold for 1.04)

Sold ARKK NOV 11 2022 38.0 Calls @ 1.43

NVDA: Adding one against some over written calls.

Sold NVDA OCT 28 2022 130.0 Put @ 6.40

SPY: A couple.

Bought to Close SPY OCT 21 2022 378.0 Call @ .05 (sold for 2.20)
Bought to Close SPY OCT 21 2022 380.0 Call @ .05 (sold for 2.81)

Sold SPY OCT 28 2022 375.0 Call @ 2.20

TBT: Working down the basis on 2025 long LEAP puts and now adding synthetic short stock.

Sold TBT JAN 17 2025 36.0 Calls – Bought TBT JAN 17 2025 36.0 Puts @ .55 credit

TLT: Roll down for additional credit.

Rolled TLT NOV 4 2022 105.0 Calls to NOV 4 2022 100.0 Calls @ .47 credit (1.87 total now)

TQQQ: Stopped out for 50 percent and immediately sold the following week.

Bought to Close TQQQ OCT 21 2022 21.0 Calls @ .30 (sold for .60)

Sold TQQQ OCT 28 2022 23.0 Calls @ .36

XBI: Sold against short puts.

Bought to Close XBI OCT 21 2022 82.0 Calls @ .05 (sold for 1.10 and 1.51)

Sold XBI OCT 28 2022 81.5 Calls @ 1.00

NUGT

#SyntheticShortStock – Using the weakness today in this thing to close my upside protection leaving just long 32 strike puts.

Bought to Close NUGT JAN 18 2019 32.0/34.0 Bear Call Spreads @ .46

This adds .46 to the cost of the long puts but reduces max loss by 1.54 and makes the trade much easier to manage and cleaner when closing.

TBT

Are we getting close to a #SyntheticShortStock position?

NUGT

#SyntheticShortStock – Rolling weekly out and down a little picking up another 2.05 of downside on what is only about a 75 percent hedge of overall short.

Rolled NUGT FEB 16 2018 32.0 Puts to NUGT MAR 16 2018 30.0 Puts @ .05 credit

TLT

#SyntheticShortStock – Rolling weekly out and down a little picking up another .85 of downside…

Rolled TLT MAR 2 2018 122.0 Puts to TLT MAR 23 2018 121.0 Puts @ .15 debit

TLT

#SyntheticShortStock – Small roll of the weeklies…

Rolled TLT FEB 16 2018 122.5 Puts to TLT MAR 2 2018 122.0 Puts @ .12 credit

NUGT

#SyntheticShortStock – Only hedged on half the core but rolling it down a little anyway…

Rolled NUGT FEB 9 2018 32.5 Puts to NUGT FEB 16 2018 32.0 Puts @ .14 credit

UNG

#SyntheticShortStock – Still messing around in the tastyworks account. I think I could get used to it. After seeing the commissions and fees it’s looking like an average of about 56 cents per contract with each leg capped at 10 dollars.

Sold UNG Feb 16 2018 25.0 Puts @ .63

UNG

#SyntheticShortStock – Missed another one from earlier. Filled in tastyworks account. Is there a way to get text alerts on fills there?

Bought to Close UNG Jan 26 2018 24.0 Puts @ .01 (sold for .22)

#synthetic

NUGT

#SyntheticShortStock – Adding to the short at original strikes for simplicity. Just averaging down on the debit..

Added to Jan 2019 32/32/34 synthetic short @ 7.80 debit

TLT

#SyntheticShortStock – Uncovering the #FuzzyBear ….

Bought to Close TLT JAN 26 2018 122.5 Puts @ .44 (sold for .30)

NUGT

#SyntheticShortStock – Selling cautiously against the short. Getting close to adding to it…

Bought to Close NUGT FEB 2 2018 28.0 Puts @ .05 (sold for .55)

Sold NUGT FEB 9 2018 32.5 Puts @ .45

VXX call

#VXXGame #LongPutDiagonals #SyntheticShortStock
Sold $VXX Feb 2nd 26 call for 1.35.

With VXX perpetually headed to zero, I am selling short-term puts AND calls against my Jan 2019 long 25 puts.

UNG and Tastyworks

#SyntheticShortStock – Just for fun I funded an account over at tastyworks. Taking a short position in UNG with spring right around the corner. Also, it’s a slow mover with a slight bit of contango in it and just reversed split recently. Low maintenance to get accustomed to the platform over there. So far I like it.

Haven’t found a place to copy and paste my trades to here so I’ll go the brief route:

Jan 2018 25/25/27 synthetic short with disaster call @ 2.23 debit and 4.23 max loss

4.23 max loss with 52 weeks remaining need to sell 8 cents per week to cover worse case scenario

So:

Sold UNG Jan 26 2018 puts @ .22

VXX put sold… yep, you read that right

#VXXGame #LongPutDiagonals #SyntheticShortStock
Sold $VXX Feb 16th 25 put for 1.15. Just trying this out ahead of some possible consolidation. I will NOT let this go ITM, but I would like to chip away at some of the loss I took in selling puts months ago. I forgot to sell some short term calls yesterday, which I had been planning on a spike.

Closed UVXY synthetic

#SyntheticShortStock #LongPutDiagonals

Took the cue from @fuzzballl and closed one of these (I originally had 2). Can’t make a whole lot more on this since we’re getting closer to zero on the stock.

Closed $UVXY Jan 2019 positions:
Long 30 put, Short 30 call, Long 40 call for 23.91.
Bought for 17.10 on Aug 17th.

That’s a $6.81 profit, BUT I also lost $818 total in the attempt to sell short-term puts. Since I had 2 positions, that’s a $409 loss for each, so profit on this one is $272.

As for the other one, I previously closed the call spread for 1.60 (on Dec 20th), and I put in an order to close the remaining long put for 24.50, which price is already near. That would mean a $171 profit on that half.

I am keeping my $VXX version of this open, since the stock is still at 25.75 so my long 20 puts still have a lot to gain. I have closed a third of my short call spreads, and I added more long puts “naked” anyway, so I’m long 18 puts, currently at 4.68, average purchase 1.77. I lost a bigger bundle on the sale of short-term puts on VXX, but my ending profit on the long puts will make up for it and them some.

I will look to do this again when they launch $VXXB with the 2020 LEAPs. But that time, I will skip the #Fuzzy hedging and just go with the synthetic short.

UVXY

#SyntheticShortStock – Next split has to be soon so I’m now fully loaded after closing the short VXX the other day. I’ve rolled my short puts out to 5 strike 2020’s. I’ll probably ride those into the ground unless we get a huge spike but should easily be offset by this position and should be able to ride 2019’s down again and 2020’s at least twice. I’ll roll them another year if I can but not sure if we can roll when they become “post split” options.

Sold to Close UVXY 30/30/55 Synthetic Short Stock @ 23.47 (bought for 14.91)

This was all just a big experiment when I first suggested it back at the last split. I’d have to say a stress free huge success along with the VXX short!

#longputdiagonals

UNG

Here’s one out of the dust bin. Just did a reverse split last week and with nat gas up during the arctic blast I’m (sort of) considering #SyntheticShortStock . I’d rather use BOIL but due to the lack of weeklies and no recent splits UNG caught my eye.

Weekly premium is kinda weak but it’s a slow enough mover that over the long haul it could really add up…

No position yet…

UVXY

#SyntheticShortStock – Rolling short puts out and down to unlock max profit on current position. After the next split will add new shorts in 2019 and 2020 so these puts should be just a small blip on the radar when it’s all said and done.

Rolled UVXY JAN 18 2019 10.0 Puts to JAN 17 2020 5.0 Puts @ 2.74 debit

UVXY VXX synthetic short

#SyntheticShortStock – I know when something is rallying hard I like to roll the synthetic up for nice credit and to lock in some gain. What about doing the same thing on a short position. Thinking maybe rolling UVXY short down a little. Just now looking at the numbers so all a wild guess at this point…

VXX

#LongPutDiagonals #SyntheticShortStock – Rolling the whole position for now. On this one looking at maybe later on rolling half to 2019 ITM call spreads @ even (possibly around a 20/30 BeCS) and just regular rolling the other half.

Rolled VXX OCT 20 2017 42.0 Puts to JAN 19 2018 38.0 Puts @ .80 credit

UVXY

#LongPutDiagonals #SyntheticShortStock – Taking my medicine on this one…tired of looking at it. Spending some of the front month premium received to roll way out and down.

Rolled UVXY JAN 19 2018 20.0 Puts to JAN 18 2019 10.0 Puts @ 1.47 debit.

Weekly puts had brought in 2.87 so leaving 1.40 in credit on these which caps my gains to the downside at 8.60.

So…synthetic short at 30.00 with max gain capped at 21.40 points with UVXY below 8.60 on the downside.

21.40 max gain minus the cost of the trade of 16.30 leaving a gain of 5.10 per spread. Ok but not great. It was done in a big enough size to definitely make it worthwhile. I think @vxxkelly has the right idea on this one…set it and look at it again in a year without messing with any front month positions.

Hey…what can I say?…LOL It was an experiment that hopefully everyone that tried it makes a little with almost zero stress in the trade!

🙂 🙂

NUGT

#LongPutDiagonals #SyntheticShortStock – Adding a position on NUGT similar to the UVXY and VXX positions.

—————

Synthetic short stock with disaster long calls (16.50 debit)

Sold NUGT JAN 18 2019 42.0 Calls
Bought NUGT JAN 18 2019 42.0 Puts

Long call for possible disasters capping potential losses:

Bought NUGT JAN 18 2019 47.0 Calls

Buying the disaster calls pretty close to help with margin requirements if she spikes with not much effect on long term gains.

—————

Weekly put sale against synthetic short stock to really boost the profits on this trade:

Sold NUGT SEP 15 2017 40.5 Puts @ .84

—————

VXX

#LongPutDiagonals #SyntheticShortStock – Adding a position on VXX similar to the UVXY position. I’ll let ’em race each other down and see what works the best.

—————

Synthetic short stock with disaster long calls (16.60 debit)

Sold VXX JAN 18 2019 50.0 Calls
Bought VXX JAN 18 2019 50.0 Puts

Long call for possible disasters capping potential losses:

Bought VXX JAN 18 2019 55.0 Calls

Buying the disaster calls pretty close to help with margin requirements if she spikes…

—————

Weekly put sale against synthetic short stock to really boost the profits on this trade:

Sold VXX SEP 1 2017 46.0 Puts @ .60

—————

So now what? Two extremes examined here….

VXX goes to 100 and stays there:

I lose my 16.60 debit and an additional 5 dollars to the upside capped by the disaster calls. But…selling premium at 60 cents a week until Jan 2019 brings in 43.80 points so still a net gain of 22 points for the whole ordeal. Margin requirements for now are 7 points per spread. Not a bad return even in worse case scenario.

VXX does what it usually does:

So VXX eases it’s way down to 10 again. Synthetic stock makes 40 points and weekly premium sales at just a measly 60 cents brings in another 44 points for a gain of 84 points minus the 17 debit (rounding) works out to a 67 point winner.

I expect this one to be easier to manage since the VXX drop isn’t as severe as the amount UVXY can tank. Might actually work out better in the long run due to the weekly premium sales…

UVXY

#LongPutDiagonals – Keeping the theta rolling in…

Bought to Close UVXY AUG 25 2017 29.0 Puts @ .25 (sold for 1.25)
Sold UVXY SEP 1 2017 31.0 Puts @ 1.30

#longputdiagonals, #syntheticshortstock, #vxxgame

VXXGame synthetic

#VXXGame #LongPutDiagonals #SyntheticShortStock
Bought one of @fuzzballl‘s $UVXY trades for 17.20
Bought Jan 2019 30 put for 19.16
Sold Jan 2019 30 call for 23.91
Bought Jan 2019 40 call for 21.95

I did a study a few years back on buying UVXY LEAP puts to profit on the eventual drop. It’s hard to make much because downside can’t go past zero. So assuming a few reverse splits, the max the long puts can earn is 29.99 (with UVXY trading for .01 in today’s prices). Fuzzy’s trade knocks a couple bucks off entry price than buying the put outright.

#experimental

UVXY

#LongPutDiagonals #SyntheticShortStock -Adding here. Could’ve moved up to 35’s but to keep things simple I’m staying with the same strikes for now. Waiting to sell any additional puts.

Synthetic short stock with disaster long calls (17.25 debit)

Sold UVXY JAN 18 2019 30.0 Calls
Bought UVXY JAN 18 2019 30.0 Puts

Long call for possible disasters capping potential losses:

Bought UVXY JAN 18 2019 40.0 Calls

UVXY

Busy week away from the market again but still adding an experimental position on UVXY. Low risk high reward playing it’s long term downtrend. Reverse Whiz style.

#LongPutDiagonals #SyntheticShortStock – I’ll be adding a similar position on VXX after the split next week. I’ll let ’em race each other down and see what works the best.

BTW…TDA portfolio margin for this trade is only 2600 increasing to 4000 if UVXY doubles overnight…

——————–

Synthetic short stock with disaster long calls (17.75 debit)

Sold UVXY JAN 18 2019 30.0 Calls
Bought UVXY JAN 18 2019 30.0 Puts

Long call for possible disasters capping potential losses:

Bought UVXY JAN 18 2019 40.0 Calls

——————–

Weekly put sale against synthetic short stock to really boost the profits on this trade:

Sold UVXY AUG 25 2017 29.0 Puts @ 1.25

——————–

The plan:

Sell weekly for the next 74 weeks and let the thing decay. Hopefully capture 10 dollars of the move from 30 to 10.
Once I get a little profit under it I’ll reduce the size or possibly eliminate the disaster calls so I’m only treating those as a temporary expense. Once I remove the disaster calls and get some of that debit back I don’t see how this thing can’t make any less than 100 points per spread with very little stress and risk.