#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


#SyntheticStock – BTC EWW May11’18 50 calls for 0.03, sold for 0.25. Waiting a bit to sell for next week, hoping as usual that dogs can bounce?


#LongCalls #LEAPS – Intended to be longer term but can’t give it back when it happens so fast. Only in it a week.

Sold to Close BABA JAN 17 2020 180.0 Calls
Bought to Close BABA MAY 18 2018 190.0 Calls

And had some way OTM long puts for fun….took a penny loss on those.

Sold BABA JAN 17 2020 50.0 Puts @ .29

All said and done it’s a 5.20 gain per contract. I’ll be back in on the next pullback!


Selling Calls (Finally!)


STO EWW May11’18 50 calls for 0.25

STO JPM May11’18 110 calls for 0.39

STO SLB May11’18 70 calls for 0.37


STO MU May11’18 50 calls for 0.27

STO XBI May11’18 90 calls for 0.45. My XBI Fuzzy is based in June so it’s pretty long in the tooth, hoping I get to close with a profit next week. Everyone cross your fingers please!