#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)

#SyntheticStock – An old earnings gone bad repair trade…needs 99 cents per week. Replacing this week’s expiration. Earnings May 3rd so staying aggressive until then.

Sold OLED APR 20 2018 103.0 Calls @ 1.58

#SyntheticStock – A little tougher to roll being 4 dollars in the money. Taking it out to May monthlies. Already collected decent premium against it so don’t mind letting it sit on the back burner for awhile. If XBI tanks I’ll roll it back in and down.

Rolled XBI APR 13 2018 86.0 Calls to XBI MAY 18 2018 88.0 Calls @ even (originally sold for 1.05)

#SyntheticStock – No time premium left in these so a small debit roll out one week picking up 90 cents of upside.

Rolled XLY APR 13 2018 100.5 Calls to APR 20 2018 101.5 Calls @ .10 debit (originally sold for .93)

#SyntheticStock – Another week…killing time waiting for the real bounce. Earnings on May 3rd….

Bought to Close REGN APR 13 2018 340.0 Calls @ .30 (sold for 2.85)

Sold REGN APR 20 2018 337.5 Calls @ 2.20

#SyntheticStock – Trying to squeeze one more in before earnings…

Bought to Close LUV APR 13 2018 56.0 Calls @ .05 (sold for .68)

Sold LUV APR 20 2018 55.0 Calls @ .57 (filled one at .60 and the rest at .57)

#SyntheticStock – 65’s expiring today (sold for .90). Replacing those with next week with earnings the following week.

Sold SLB APR 13 2018 65.5 Calls @ .61

#SyntheticStock – Selling below the July core so trying to stay cautious. Replacing this week’s 90/95 BeCS expiration.
Switching back to naked and selling right at the descending 50ma.

Sold CELG APR 13 2018 92.0 Calls @ .50

#SyntheticStock – Another small roll…

Rolled DG APR 6 2018 93.0 Calls to APR 20 2018 94.0 Calls @ .10 debit

#SyntheticStock – Trying to keep these rolls to within a couple weeks even if it’s a small debit. Plenty of weekly premium brought in recently to use a little for the roll.

Rolled EWW APR 6 2018 51.0 Calls to APR 20 2018 51.5 Calls @ .08 debit

#SyntheticStock – Rolling the weekly out and up. Small debit but picking up another 71 cents of upside while staying in the week prior to earnings.

Rolled XOM APR 6 2018 74.0 Calls to APR 20 2018 75.0 Calls @ .29 debit (originally sold for .60)

#SyntheticStock – Since I already sold next week I’m booking these just for safety. Another big up day tomorrow and the position would end up way too short…

Bought to Close LUV APR 6 2018 57.5 Calls @ .21 (sold for .54)

#SyntheticStock – Looks like it’s easing below the 200ma so I’m selling just above it…

Bought to Close XBI APR 6 2018 89.0 Calls @ .06 (sold for .83)

Sold XBI APR 13 2018 86.0 Calls @ 1.05

#SyntheticStock – With the weak market I’m rolling this thing back in and down. Hopefully can get it off the books a week sooner freeing up an extra sale.

Rolled REGN APR 20 2018 350.0 Calls to APR 13 2018 340.0 Calls @ .36 credit

#SyntheticStock – Going out another week…

Bought to Close PYPL APR 6 2018 78.5 Calls @ .05 (sold for .80)

Sold PYPL APR 13 2018 76.0 Calls @ .94

#SyntheticStock – Order in to cover this week’s at a nickel. Selling next week into the tiny up move…

Sold LUV APR 13 2018 56.0 Calls @ .68

#SyntheticStock – Selling well below the core but still bringing in enough to cover the repair of an old earnings strangle. Double sale with this week’s still running…

Sold OLED APR 13 2018 103.0 Calls @ 1.95

#SyntheticStock – I’m going to keep aggressively selling the rips for at least another week especially while premiums are so juicy…

Bought to Close XLY APR 6 2018 103.5 Calls @ .05 (sold for .73)

Sold XLY APR 13 2018 100.5 Calls @ .93

#SyntheticStock – Been selling against this all the way down. It’s in a squeeze and attempting to get off the ground but seems to get rejected right around this level each time. Rolling up and out a little for now…

Rolled REGN APR 6 2018 340.0 Calls to APR 20 2018 350.0 Calls @ .40 credit

#SyntheticStock – Looks safe this week so selling next week on this tiny pop…

Sold LUV APR 6 2018 57.5 Calls @ .54

#SyntheticStock – Next week’s sale…still a weak looking chart but starting to form a nice squeeze. Gonna see if I can “squeeze” in one more aggressive weekly before this thing rebounds and runs to glory (or not 🙂 ). Jumped the gun on it…could do a little better now.

Sold XOM APR 6 2018 74.0 Calls @ .60

#SyntheticStock – Right at the bell…no time to sell next week.

Bought to Close XOM MAR 29 2018 74.5 Calls @ .03 (sold for .48)

#SyntheticStock – Core position is all the way out to 2020 requiring .10 per week to cover max loss. Weak market so I will continue aggressive selling. Pretty good weekly income while it grinds around. Gonna throw this out as an example of how I’m trying to keep the big picture on how these will hopefully turn out some day.

10 lot Jan 2020 48/48/46 synthetic with max loss now reduced to about 8900. That’s actually a little high too since I rolled a small loss on a strangle into the synthetic cost.

30 cents per week in sales for the next 94 weeks brings in 28200. Assuming max loss then total gains are 19300. Over two years against 3800 in margin is about 150 percent annualized on margin. These are rough numbers but still something to keep in mind looking on down the road. Do that in 10 different underlyings and you’ve got a pretty good annual income that’s (hopefully) low risk. Running the numbers for 40 cents per week and 50 cents per week really starts getting interesting especially when factoring in the possibility of not taking max loss!

It’s tough watching the drawdowns when the core is getting hit but looking out further helps a lot. If the stock tanks right after you set the trade the drawdown will be pretty tough to watch but realizing it is capped with plenty of time to continue selling helps a lot. Adding up the max loss on all the positions is a nice way to figure out what your absolute bottom could look like overall also. Knowing this will help control position size. Each weekly sale over and over again reduces that ultimate max drawdown number.

Bought to Close EWW MAR 29 2018 51.5 Calls @ .03 (sold for .40)

Sold EWW APR 6 2018 51.0 Calls @ .50

#SyntheticStock – Getting a jump start on next week’s sale. Haven’t close this week’s yet and since it’s in an IRA I’ll need to sell a spread instead. Trade is a shorter one only out to July. Sitting well below the core and needing 36 cents per week to cover max loss.

Sold CELG APR 6 2018 90.0/95.0 Bear Call Spreads @ .53

#SyntheticStock – With my margin hog AMZN position out of the way now it’s time to start looking for new opportunities. Whiz pointed this one out the other day. AMZN is a big chunk of it so a cheaper way to stay involved. Pretty nice weekly premium as well.

Bought to Open XLY JAN 18 2019 102/102/100 Synthetic @ 6.50

Max loss of 8.50 with 42 weeks to run so need 20 cents per week to cover.

So:

Sold XLY APR 6 2018 103.5 Calls @ .73

#SyntheticStock – This week’s 95.5s look safe so adding next week’s sale into the pop.

Sold DG APR 6 2018 93.0 Calls @ .95

#syntheticStock – Selling up into resistance again…

Bought to Close SLB MAR 29 2018 68.0 Calls @ .03 (sold for .27)

Sold SLB APR 6 2018 65.0 Calls @ .90

#SyntheticStock – Pretty good week in this ticker in spite of the selloff. Booked 80 cents with the double selling. Not bad when only 14 cents is required. Looking to next week now…

Sold LUV MAR 29 2018 58.0 Calls @ .45

#SyntheticStock – Been trying to get out of this at even or at least reduce the size a little. Fought the hedge the entire time. Until two days ago I thought I was successful but now on another massive run. Rolling the weekly all the way out to May to give it some room. See how the next week or two goes….keeps running I can probably close the position. If it tanks I’ll have to roll it back in and down. Looks to be at resistance but you never know.

Rolled GLD MAR 23 2018 125.0 Calls to MAY 18 2018 127.0 Calls @ .06 credit

#SyntheticStock – Late fills…

Bought to Close XOM MAR 23 2018 75.5 Calls @ .03 (sold for .35)

Sold XOM MAR 29 2018 74.5 Calls @ .48

#SyntheticStock – I’ll generally leave these closing orders in for a nickel through Wednesday. After that I’ll lower them to about .03 on Thursday and then .02 or .01 on Friday. Figuring I can pay the nickel on Wed and make it up by getting to sell next week’s a few days early.

Bought to Close CELG MAR 23 2018 93.0 Calls @ .05 (sold for .47)

Sold CELG MAR 29 2018 91.0 Calls @ .61

#SyntheticStock – Another sale…

Bought to Close DG MAR 23 2018 97.0 Calls @ .05 (sold for .80)

Sold DG MAR 29 2018 95.5 Calls @ .74

#SyntheticStock – Looks like it might be running out of gas here (as I’m typing this it’s rallying 🙂 ). Booking a small winner and looking for something with some better upside potential. these were just straight calls instead of synthetic. 37 cents per contract gain…been in and out of this ticker a few times so overall adding up nicely.

Bought to Close MGM APR 6 2018 36.5 Calls
Sold to Close MGM JAN 18 2019 35.0 Calls

#SyntheticStock – Was seriously considering booking this one yesterday since it was up 2 dollars per spread…so much for that. Looks like the weekly selling will continue.

Bought to Close LUV MAR 23 2018 60.0 Calls @ .05 (sold for .60)

#SyntheticStock – Partial fill on a 2 lot…LMAO!

Bought to Close OLED MAR 23 2018 133.0 Call @ .05 (sold for 1.50)

#SyntheticStock – I normally have to go out a month to roll my short term hedge up 10 bucks (unless volatility is really high) then I can go up 20 sometimes. Today I’m using the volatility pop along with the big pullback to go out just one week and still get most of the 10 point upside. This is more than likely a roll into earnings week also which helps.

Rolled AMZN APR 20 2018 1340.0 Call to APR 27 2018 1350.0 Call @ .75 debit.

#SyntheticStock – It’s these kind of days that make me glad I hedged a little with weeklies. It’s also tough trusting the process of the weekly sales to cover max loss. Looks like we’re gonna learn how it actually plays out over the long run to end of year. As some of these drop the danger of a whipsaw with the weekly hedge grows. I’m planning on selling very carefully and possibly using spreads when selling much below the core and not getting too greedy…mainly just selling near the min required to cover max loss. I’ll probably run through all my positions this week and update what’s needed each week.

Also, I’m trying not to get caught up in P/L YTD….SVXY already blew that. I’m more concerned about actual realized gains represented by positions that are closed…(helps psychologically for sure) 🙂 🙂

#SyntheticStock – Happy to finally be out from under this weekly sale. Been rolling for awhile…

Bought to Close EWW MAR 16 2018 51.0 Calls @ .03 (sold for .52)

Sold EWW MAR 29 2018 51.5 Calls @ .40

#SyntheticStock – Not taking any chances with this one and paying the dime to close. Happy that 350 held here but also selling the next batch on the rally.

Bought to Close REGN MAR 16 2018 350.0 Calls @ .10 (sold for 4.65)

Sold REGN MAR 29 2018 355.0 Calls @ 2.10

#SyntheticStock – (in reality just long LEAP calls) – It’s running and I’m rolling. I’ll close when (if) deltas reach zero.

Rolled MGM MAR 16 2018 35.5 Calls to APR 6 2018 36.5 Calls @ even

#SyntheticStock – Selling under the core here again. It’s sitting out in July and has moved against me since the very beginning. Should still be able to bring in enough weekly to get an overall profit. Need 37 cents per week going forward to cover max loss.

Bought to Close CELG MAR 16 2018 93.5 Calls @ .05 (sold for .90)

Sold CELG MAR 23 2018 93.0 Calls @ .47

#SyntheticStock – These are actually just plain old long LEAP calls but leaving it under the synthetic hashtag. Paid up to close this week…it’s in an IRA and I wanted to get the next sale off on the rally.

Bought to Close CRUS MAR 16 2018 44.5 Calls @ .05 (sold for .65)

Sold CRUS MAR 23 2018 45.5 Calls @ .45

#SyntheticStock – Trying to build a base…I’m selling at the 20ma resistance.

Bought to Close XOM MAR 16 2018 75.5 Calls @ .02 (sold for .36)

Sold XOM MAR 23 2018 75.5 Calls @ .35

#SyntheticStock – Much better week this week. Had to roll nearly everything last week with the big Friday rally. Closing a lot more at min value this week for fresh sales next week.

Bought to Close HIMX MAR 16 2018 9.0 Calls @ .01 (sold for .65)

Selling under the core now so using spreads and only selling half size. Goal is to get out of this one at even. Took investing advice from a pilot (big mistake!) on this one. 🙂 🙂

Sold HIMX MAR 29 2018 7.5/9.0 Bear Call Spreads @ .20