Jumped back into SQ last week…6/6 BTO Jan 20 60 call at 15.79…Need 0.19 per week to cover…STO 6/15 65 call at 0.53….Today 6/15 rolled out and up to 6/22 66.5 call for 0.51 credit #syntheticstock #syntheticcoveredcall
I am holding #SyntheticStock position in $CELG. 105/105/100 for July. Last night I was assigned the 105 Puts.
I was still in the process of covering max loss by selling Calls and would have achieved this if the roof had not fallen in!
Would appreciate your thought’s on the the best way to handle this.
#SyntheticStock – BTC EWW May18’18 48.5 calls for 0.03, sold for 0.31. STO EWW May25’18 47.5 calls for 0.31.
#SyntheticStock – Walking some short calls up that got run over this week:
Roll SLB May11’18 70 calls to SLB May18’18 70.5 calls for 0.05 credit.
Roll MU May11’18 50 calls to MU May25’18 52 calls for 0.20 credit.
Roll JPM May11’18 110 calls to May 25’18 111 calls for 0.41 debit. Giving up some of the premium I’ve collected on this one.
#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 #LongCalls #LEAPS – If next week’s 53.5s expire I’ll officially have the core synthetic cost of 5.52 covered. That will leave the max loss of 2.50 to take care of. Since I’m not sitting at max loss yet I’m converting to plain long #LEAPS and saving .65 of recovery that would be required.
Bought to Close LUV JAN 18 2019 60.0/57.5 Bull Put Spreads @ 1.85 (better than 2.50!)
So….the new projections are this on one of my first ones to approach the land of #PureProfit .
Averaging 45 cents per week conservatively the final debit (max loss) will be covered by June monthly expiration. At that point the position will still have 31 weeks to run. From there on, assuming 45 cents per week until the end, the trade should make about 14 dollars. On a 10 lot that’s a pretty good return on something that could possibly end up well below the original starting point. This is the power of basis reduction (I hope!)
#SyntheticStock – STO EWW May18’18 48.5 calls for 0.31