#SyntheticStock – This one never had a chance. Run over from the beginning so never got close to a full position.

The good:

Sold GOOGL JUN 20 2025 95.0/95.0/40.0 Synthetic Stock with Disaster Puts @ 30.00 (basis 8.50)

The bad:

Bought to Close GOOGL JUN 02 2023 95.0 Calls @ 21.85 (sold for 1.75)
Bought to Close GOOGL JUN 02 2023 96.0 Calls @ 21.00 (sold for 2.10)

The result:

Gain of 1.40 on the 95 covered call position
Gain of 2.60 on the 96 covered call position

#SyntheticStock – Been another good run in this one. Seems like it’s due for a rest so taking it off. As always, when covered calls get run over it cuts into (potential) profits. I’ll still take it! 🙂 🙂 🙂

The good:

Sold AMZN JUN 20 2025 100.0/100.0/45.0 Synthetic Stock with Disaster Puts @ 21.45 (basis 4.00)

The bad:

Bought to Close AMZN MAY 19 2023 99.0 Calls @ 13.70 (sold for 2.50)
Bought to Close AMZN MAY 19 2023 100.0 Calls @ 12.75 (sold for 5.45)

The result:

Gain of 6.25 on the 99 covered call position
Gain of 10.15 on the 100 covered call position

#SyntheticStock – Starting small out to Jan 2025.

Bought KRE JAN 17 2025 40.0/40.0/30.0 Synthetic Stock /Disaster Puts @ 3.00

Sold KRE MAY 05 2023 39.5 Calls @ .64

#SyntheticStock – Added one spread at the 100 strike with a disaster put.

Bought AMZN JAN 17 2025 100.0 Call/Sold JAN 17 2025 100.0 Put/Bought JAN 17 2025 50.0 Put @ .55 debit

And:

Sold AMZN DEC 16 2022 93.0 Call @ 1.30 against the new position.

#SyntheticStock – This is the last of my old positions that’s been stuck in limbo. It’s synthetic stock out to 2020 but weekly short calls have been buried DITM for weeks with no relief in site. The position needed a yuuuge move one way or the other and it hasn’t happened. It still could but I’m wasting time waiting. Doing an extreme repair trade here but also improving my cash position and allowing the weeklies to be sold again.

Closed the 400/400/390 synthetic taking an 11.15 loss

Closed the ITM short calls and rolled them….

Rolled them to a Jan 2021 ITM bull put spread for 4.85 debit.

So what now?

I can resume safely selling weekly calls against the position. The BuPS uses zero cash and just a small amount of margin but I’m also giving up any chance of huge profits (or losses!). Strictly a repair trade so as I sell weeklies and book them I plan on using that cash to gradually roll the wings of the BuPS in. At some point I hope to have it pretty narrow and be able to get out at a scratch.

Of course I still would like to see the stock go up but a drop isn’t the end of the world since it’s all defined risk.

I’ll calculate the final numbers tonight to see exactly where I stand but that’s the basic plan.

So:

Sold REGN OCT 19 2018 415.0 Calls @ 1.65

With 5 wide strikes on the bottom end of the BuPS I should be able to move those up one strike with each successful weekly sale.

#SyntheticStock – Just about the last of my old synthetic stock positions. Out to 2019 needing .95 per week to scratch. As this winds down I may add to the 2020 position. Still liking the premium in this.

Bought to Close OLED JUN 22 2018 98.0 Calls @ .05 (sold for 1.15)

Sold OLED JUN 29 2018 92.5 Calls @ 1.15

#SyntheticStock – I guess the Donald isn’t going to punish drug companies as much as everyone was thinking. Unfortunately I might be fighting the recovery in this one. Rolling weekly calls up and out for now similar to a trailing stop. Great premium all the way down at least!

Rolled REGN MAY 11 2018 290.0 Calls to JUN 15 2018 300.0 Calls @ .40 credit

#SyntheticStock – An old “earnings gone bad” repair trade that might actually turn into a nice winner…needs 99 cents per week. Earnings tonight so making an aggressive roll down. See if I can bring this thing back to life…

Rolled OLED MAY 4 2018 105.0 Calls to MAY 4 2018 96.0 Calls @ 1.95 credit (3.50 total now)

#SyntheticStock – An old “earnings gone bad” repair trade that might actually turn into a nice winner…needs 99 cents per week. This week’s 100s look pretty safe so selling next week now. Earnings on May 3rd so keeping it well out of the money for now. I may adjust this prior to the announcement.

Sold OLED MAY 4 2018 105.0 Calls @ 1.55

#SyntheticStock – I’ve covered the initial debit but not the max loss on this one. Converting to straight long calls which reduces the amount of max loss that’s needed to be recovered by 65 cents. With this thing winding down in July every little bit helps. Got a chance to be profitable in spite of the stock being nearly 16 dollars below the core synthetic.

Bought to Close CELG JUL 20 2018 105.0/100.0 Bull Put Spreads @ 4.35

#SyntheticStock – Converting this one over to Jan 2019 Bull Call Spreads similar to how I did NUGT…closing the short put side of the synthetic and the disaster put (a BuPS). The stock is still above the LEAP position so a good time to do it (yesterday was even better!).

Bought to Close DG JAN 18 2019 95.0/92.5 Bull Put Spreads @ 1.05

Sold DG JAN 18 2019 115.0 Calls @ 2.75

Caps my upside well above the all time high on the stock which I’m ok with. In exchange for that I reduce the max loss and pick up a quick 1.70 towards being risk free in the position.

BTW…also did this with PYPL today but won’t bore you with the details.

#SyntheticStock – Plugging away against a Jan 2020 position…selling next batch in earnings week. Might adjust it a little as the day approaches.

Bought to Close REGN APR 20 2018 337.5 Calls @ .20 (sold for 2.20)

Sold REGN MAY 4 2018 345.0 Calls @ 2.40

#SyntheticStock – Some more rolling. Easing them up but keeping some downside cushion. LUV earnings next week.

Rolled EWW APR 20 2018 51.5 Calls to MAY 18 2018 52.0 Calls @ .04 debit

Rolled LUV APR 20 2018 55.0 Calls to MAY 4 2018 57.0 Calls @ .05 credit

#SyntheticStock – Rolling…

Rolled XLY APR 20 2018 101.5 Calls to XLY MAY 11 2018 102.5 Calls @ .07 debit

#SyntheticStock – These have both been on a tear so rolling the best I can. Neither one is really very rollable especially this far ITM. Will have to trade these like I did my old AMZN position. Keep rolling up and out while ITM treating them like a nice trailing stop.

Rolled DG APR 20 2018 94.0 Calls MAY 18 2018 95.0 Calls @ .10 debit.

Rolled XOM APR 20 2018 75.0 Calls to MAY 4 2018 75.5 Calls @ .14 debit (waiting until after earnings to see what I need to do longer term)

Also on XOM:

Bought to Close XOM JAN 17 2020 75.0/72.5 Bull Put Spreads @ 1.10

This leaves just the long calls out in 2020. Made a profit on the short put / disaster put but did add 1.10 to the cost of the long calls.

#SyntheticStock – Rolling….picking up another 1.95 of upside. Earnings next week.

Rolled PYPL APR 20 2018 76.5 Calls to MAY 4 2018 78.5 Calls @ .05 debit

#SyntheticStock – Earnings next week so I’m trying to give it a little room. If it tanks I’ll roll back in and down.

Rolled SLB APR 13 2018 65.5 Calls to MAY 4 2018 67.5 Calls @ .16 debit (originally sold for .61)