#SyntheticStock – Sitting almost at breakeven so selling aggressively to try to get out at even. A little bit of a margin hog and a little too big size wise.
Bought to Close GLD MAR 16 2018 126.0 Calls @ .03
Sold GLD MAR 23 2018 125.0 Calls @ .70
Tag Archives: SyntheticStock
DG
#SyntheticStock – Really liking the weekly premium in this thing. Setting up a synthetic out to next Jan.
Bought Jan 2019 95/95/92.5 Synthetic Stock @ 8.90
Max loss of 11.40 with 44 weeks to run so need .26 per week to cover…
So:
Sold DG MAR 23 2018 97.0 Calls @ .80
As for the earnings strangle I’m completely out now for 1.70 (sold for 1.79)
JPM
#SyntheticStock – BTC JPM Mar16’18 119 calls for 0.04, sold for 0.27. Gonna wait a bit to sell calls for next week.
VRX
#SyntheticStock #Tastyworks – Rolled short calls out and up…
Rolled VRX 03/16/18 16.00 Calls to 4/20/18 17.00 Calls @ .15 debit
Originally sold these for .21 so still sitting on a slight credit. Looking to close the whole thing if overall delta reaches zero…
PS…I like Think or Swim better so far…
BIIB
#ShortPuts #SyntheticStock – Looking to back into a #SyntheticStock position. Since it’s in an #IRA also bought some junky puts for margin. All done in the week before earnings…
Sold 1 BIIB APR 20 2018 260.0 Put @ 2.80
Sold 1 BIIB APR 20 2018 255.0 Put @ 2.10
Sold 1 BIIB APR 20 2018 250.0 Put @ 1.60
Bought 3 BIIB APR 20 2018 220.0 Puts @ .40
Net premium received of 5.30 (1.76 average)
BABA
#SyntheticStock – It’s either at resistance or getting ready to break higher. Either way, my long deltas are gone and it’s been a good run. Very little weekly premium and mostly a delta gain. Only a couple contracts but still booking here and looking for a re-entry point eventually. Out of BABA, BIDU, and CTRP. China was very good to me!
Sold to Close BABA JAN 17 2020 175.0/175.0/170.0 Synthetic Stock
Bought to Close BABA MAR 16 2018 190.0 Calls
Net gain of 12.20 per contract…
SLB
#SyntheticStock – Closing down the hedge on my SLB Jan’19 67.5/67.5/65 synthetic stock, BTC SLB Mar9’18 67.5 calls for 1.40, sold these last week for 0.28 so loss of 1.12 per contract. Instead of rolling immediately I’m gonna leave unhedged for now, SLB looks to be blasting out of a volatility squeeze (I hope!).
LUV
#SyntheticStock – Another roll…I really wanted a down market today 🙂
Rolled LUV MAR 9 2018 58.5 Calls to MAR 23 2018 60.0 Calls @ .10 debit.
Small debit to pick up another 1.40 of upside.
OLED
#SyntheticStock – Strong recovery here…
Rolled OLED MAR 9 2018 128.0 Calls to MAR 23 2018 133.0 Calls @ .17 credit
PYPL
#SyntheticStock – Going a little further out on this one. Still not sure why it’s going up after the eBay controversy from a few weeks ago..LOL
Rolled PYPL MAR 9 2018 77.0 Calls to APR 6 2018 78.5 Calls @ .15 debit picking up another 1.35 of upside.
CELG
#SyntheticStock – Another roll I was hoping would expire…
Rolled CELG MAR 9 2018 92.0 Calls to MAR 16 2018 93.5 Calls @ .35 credit
BABA
#SyntheticStock – Almost closed the whole thing yesterday. Forced to roll now…
Rolled BABA MAR 9 2018 187.5 Calls to MAR 16 2018 190.0 Calls @ .33 credit
SLB
#SyntheticStock – In a squeeze and looks ready to run. Rolling the hedge…
Rolled SLB MAR 9 2018 66.5 Calls to MAR 29 2018 68.0 Calls @ .22 debit picking up another 1.28 of upside.
AZO
Leaving this under my #SyntheticStock tag even though it’s slightly modified. Replacing this week’s expiration with another hedge. Reducing basis in Jan 2019 660/760 BuCS by selling bear call spreads.
Sold AZO MAR 16 2018 675.0/700.0 Bear Call Spread @ 2.40
CTRP
#SyntheticStock – Earnings next week. It’s run up to resistance and to a negative delta on my overall position. Gonna book it as a quickie and maybe re-load with an earnings play next week…
Sold to Close CTRP JAN 18 2019 47/47/45 Synthetic
Bought to Close CTRP MAR 9 2018 48.0 Calls
A couple weeks of weekly selling and nice gain on the core for grand total of 1.18 gain per spread. Not risking a blowout on earnings next week.
JPM
#SyntheticStock – STO JPM Mar16’18 119 calls for 0.27
JPM
#SyntheticStock – Earlier BTO JPM Jan’19 +115calls/-115puts/+110puts for 6.70. Leaving unhedged for now.
XOM
#SyntheticStock – Core is out in Jan 2020…
Bought to Close XOM MAR 9 2018 76.0 Calls @ .03 (sold for .54)
Sold XOM MAR 16 2018 75.5 Calls @ .36
ADSK
#SyntheticStock – As usual I pick a stock that goes to the moon but is hedged with a short weekly. 😦 😦
Trading this similar to the strategy I’ve used with my AMZN position…rolling everything up including the core to set up easier rolling of the front month calls in the future. In this case, I’m rolling the core up to the breakout level which might provide some support on a pullback.
Rolled Jan 2019 115/115/110 synthetic up to 120/120/115 @ 3.50 credit
Rolled MAR 9 2018 115.0 Calls to APR 20 2018 120.0 Calls @ 3.30 debit
Basically moving everything up 5 points for a .20 credit. Hopefully a little pullback of some sort in the next month to allow a decent roll of the weekly next time.
VRX
#SyntheticStock – Only have a tiny bit of buying power in my Tastyworks account. Currently synthetically short UNG and adding a synthetic long on VRX now. Mainly just to get used to the platform…
Bought VRX 01/18/19 15.00/15.00/12.50 Synthetic Stock / Disaster Puts @ 2.06
Max loss 4.56 with 45 weeks to run so need a dime a week to cover.
So:
Sold VRX 03/16/18 16.00 Calls @ 0.21
SQ
rolled my march 9 48 call #hedge into march 23 50 call for 3 cent credit
#syntheticstock
BIDU
#SyntheticStock – Booking this one with the run up to resistance and overall delta approaching zero…
Sold to Close BIDU JAN 17 2020 250.0/250.0/240.0 Synthetic
Bought to Close BIDU MAR 16 2018 252.5 Calls
All said and done including weekly premium sales net gain of 10.45 per spread. Would definitely re-enter on any weakness.
AZO
#SyntheticStock – Instead of selling an unlimited risk big wide strangle or going pure synthetic I’m trying a little experiment since it’s such a high dollar stock. Thesis (LOL for what that’s worth!) is that the 200ma will hold and there’s not much of a chance of exceeding the all time high this year. (Citi has 790 target on it).
I’m buying a call spread out in Jan 2019 and then selling against it…selling call spreads against it for now since selling naked calls against it results in an additional margin hit since the platform sees it as blocking potential gains.
Bought to Open AZO JAN 18 2019 660.0/760.0 Bull Call Spread @ 40.60 (that’s my max loss)
40.60 with 46 weeks requires .88 a week to cover. Shouldn’t be a problem with this thing.
So:
Sold AZO MAR 9 2018 675.0/700.0 Bear Call spread @ 3.15
Even if the stock goes nowhere selling 3 bucks a week should be a nice winner…
SLB, UPS
#SyntheticStock – STO SLB Mar09’18 67.5 calls for 0.28
#Fuzzy – STO UPS Mar09’18 109 calls for 0.32
SLB
#SyntheticStock – Only getting partial fills for closing this week’s at a penny but since it’s not in an IRA I’m selling next week while waiting.
Bought to Close SLB MAR 2 2018 67.0 Calls @ .01 (sold for .38) (filled on 2 out of 10)
Sold SLB MAR 9 2018 66.5 Calls @ .50
XOM
#SyntheticStock – Core is all the way out to 2020 and only needing a dime a week. Possibly my favorite position right now…
Bought to Close XOM MAR 2 2018 77.0 Calls @ .03 (sold for .55)
Sold XOM MAR 9 2018 76.0 Calls @ .54
CRUS
#SyntheticStock – Putting this in the synthetic category even though this was just the buying of 45 strike calls out to next January. First sale against these needing .15 per week.
Sold CRUS MAR 16 2018 44.5 Calls @ .65
SLB
#SyntheticStock – BTC SLB Mar02’18 67.5 calls for 0.03, sold for 0.24. Gonna wait and see what tomorrow brings to sell calls for next week.
CRUS
#SyntheticStock #LongCalls -With 5 wide strikes out in Jan 2019 I just decided to buy the calls outright instead of going synthetic. A little more out of pocket up front but a much lower max loss due to the “5 wide”. This replaces my MU position..
Bought to Open CRUS JAN 18 2019 45.0 Calls @ 6.90
46 week to go so 15 cents a week required….didn’t get a chance to sell the first hedge yet.
MU
#SyntheticStock – This was a poorly managed trade from the beginning. I’ve got to learn more patience with these things. I entered the trade on Jan 26th and the stock went down almost immediately. Sold some nice hedges but got streamrolled in the massive whipsaw. This could’ve been a 5k winner but the weekly hedge sale has blocked the entire profit from the reversal point. Instead of holding it and trying to roll I’m taking it off for a scratch after commissions. I’ve got to get better at this or quit picking stocks that explode higher 🙂 🙂 .
Sold to Close MU JUL 20 2018 43/43/41 Synthetic
Bought to Close MU MAR 29 2018 44.0 Calls
All said and done…even after commissions but feels like a loser!
CELG
#SyntheticStock – Another dog….selling the weekly hedge below the core so only going for about what’s needed to get to breakeven. Core is out in July and I currently need 37 cents per week to cover max loss.
Bought to Close CELG MAR 2 2018 97.0 Calls @ .05 (sold for .68)
Sold CELG MAR 9 2018 92.0 Calls @ .55
SQ
BTO 21 SEP 18 46/46/44 CALL/PUT/PUT 5.97 with stock at 45.98. Need 0.28 per week to cover so STO 9 MAR 48 CALL 0.67 #syntheticstock
BIDU
#SyntheticStock – Rolling the weekly hedge out and up…if the stock continues up to where the overall position is zero deltas I’ll probably book it and look to re-enter on a pullback.
Rolled BIDU MAR 2 2018 247.5 Calls to MAR 16 2018 252.5 Calls @ .60 credit
CTRP
#SyntheticStock – Earnings still two weeks away so selling the week before (hopefully at a safe strike)…
Bought to Close CTRP MAR 2 2018 48.0 Calls @ .05 (sold for .75)
Sold CTRP MAR 9 2018 48.0 Calls @ .26
ADSK
#SyntheticStock – This is a weekly call sale that I had rolled down for a 1.24 credit. With the stock reversing (of course) I’m giving some of that back and rolling it back up and out. Earnings next week…
Rolled ADSK MAR 2 2018 111.0 Calls to MAR 9 2018 115.0 Calls @ .96 debit
AMZN
#SyntheticStock – With the breakout above 1500 I’m probably safe moving everything up. Rolling everything up 100 points including the disaster put and the front month call sale. This should lead to much better rollability for the ITM weekly call.
Rolled Jun 2019 1250/1250/810 synthetic to Jun 2019 1350/1350/910
And:
Rolled Apr 2018 1240 short call to Apr 2018 1340 short call
Did the entire package for a 3.60 debit easily covered by earlier weekly hedge sales. Will be looking to roll the April call once a little more time bleeds out of it.
CELG FSLR LUV OLED SVXY and “The GOAT!”
Was out all day today chasing the G.O.A.T. up and down grassy hills in the sunshine. Yes….that’s right…I followed Tiger Woods today in the Honda Classic. Since he was only 45 minutes up the turnpike I couldn’t pass it up. I hadn’t seen him hit a ball in person since the 1999 Byron Nelson tournament down in Ft. Worth. For a lifelong golf nut like myself, it really was a thrill even though he’s the “Old Tiger” and no longer the “Tiger of Old”. Just a lot of fun and a great day seeing him and all the young guns that were in diapers back in 1999 (if they were born yet) 🙂 🙂 .
Along with all that I did manage to find a shady spot and take care of all my #SyntheticStock and #Earnings Friday action that was needed…
Bought to Close CELG FEB 23 2018 96.0 Calls @ .02 (sold for 1.00)
Sold CELG MAR 2 2018 96.0 Calls @ .68
Bought to Close FSLR FEB 23 2018 63.0/66.0/66.0/69.0 Iron Flies @ 2.65 (sold for 2.60) small loss…
Bought to Close LUV FEB 23 2018 58.0 Calls @ .05 (sold for .60)
Sold LUV MAR 9 2018 58.5 Calls @ .75
Rolled OLED FEB 23 2018 145.0 Puts to MAR 16 2018 143.0 Puts @ .30 credit (I’ll sell calls against these for a few weeks and then maybe roll to a new strangle) basis now 138.75
SVXY – Sold almost all of my stock @ 12.90. I think I will now go all synthetic at twice the size (and much less out of pocket). This will indirectly lower my basis in all the former stock positions by half. I’ll get the exact basis on each lot over the weekend. Haven’t decided yet on adding disaster puts…I probably will at some point.
Have a great weekend!
XOM
#SyntheticStock – Different oil stock in a different account. Taking this one way out in time with same size as SLB.
Bought Jan 2020 75/75/72.5 Synthetic Stock @ 7.05 debit
9.55 max loss with 99 weeks to run so .10 per week to cover.
Order in but not filled to sell the hedge for next week…
CTRP
#SyntheticStock – Could be interesting with earnings this week…
Bought Jan 2019 47/47/45 Synthetic @ 5.50
Max loss 7.50 with 47 weeks to run so 16 cents per week to cover…
So:
Aggressive sale the week after earnings with great premium…
Sold CTRP MAR 2 2018 48.0 Calls @ .75
BABA BIDU CELG MU
#SyntheticStock – Rolling weeklies…
BABA: Feb 16th 182.5 to Mar 9th 187.5 @ .66 credit
BIDU: Feb 16th 242.5 to Mar 2nd 247.5 @ 1.40 credit
CELG: Feb 16th 95.0 to Feb 23rd 96.0 @ .05 credit
MU: Feb 23rd 41.5 to Mar 29th 44.0 @ .23 debit
PYPL
#SyntheticStock – Carefully easing the weekly up. I can’t see this thing getting back to it’s all time highs so keeping some downside protection but picking up 1.46 of upside
Rolled PYPL FEB 16 2018 75.5 Calls to MAR 9 2018 77.0 Calls @ .04 debit
SLB
#SyntheticStock – Been looking to get a new one over in the oil patch. Synthetics are pretty diversified so far and this will help even more. I also looked at EOG and HES. Any of them would probably work. Should act as a hedge for my transport (LUV). It’s sitting down in congestion right now but looks to have some upside room.
Jan 2019 67.5/67.5/65 @ 5.35
Max loss: 7.85
48 weeks so need 17 cents average to cover.
AAOI
#SyntheticStock – Repair trade still running. What a dog. Earnings next week and I’m not sure if I want it to go up or down. Actually make a decent profit with it at zero with my put protection. 🙂
Bought to Close AAOI FEB 16 2018 33.0 Calls @ .05 (sold for .55)
Sold AAOI FEB 23 2018 33.0 Calls @ 1.10
LUV
#SyntheticStock – Another weekly in the books…
Bought to Close LUV FEB 16 2018 60.0 Calls @ .05 (sold for 1.00)
Sold LUV FEB 23 2018 58.0 Calls @ .60
REGN
#SyntheticStock – Trying to get out of the way of this thing just in case…
Rolled REGN FEB 16 2018 337.5 Calls to MAR 16 2018 350.0 Calls @ .16 credit
AMZN
#SyntheticStock – Yes…the SVXY situation sucks but there is a silver lining. The higher volatility across the board is nice for selling/rolling. For the last year when rolling these ITM weekly sales up on AMZN I’ve had to pay about a 2 dollar debit for a one month 10 point roll up. Not any more! While IV is high I’m rolling this one a little earlier than normal picking up another 23.30 of upside.
Rolled AMZN MAR 16 2018 1220.0 Call to APR 20 2018 1240.0 Call @ 3.30 credit.
20 point roll up for a 3.30 credit? Unheard of in the last year…
BIDU
#SyntheticStock – Earnings are now this week and my weekly call sale is sitting in next week and way out of the money. Taking advantage of the high IV and rolling it down and back into this week. Still higher than the expected move and freeing up next week to sell again.
Rolled BIDU FEB 23 2018 250.0 Calls to FEB 16 2018 242.5 Calls @ .09 credit
PYPL
#SyntheticStock – Still catching up…LOL Weekly sales….
Bought to Close PYPL Feb 09 2018 78.0 Calls @ .02 (sold for 1.37)
Sold PYPL Feb 16 2018 75.5 Calls @ 1.00
ADSK
#SyntheticStock – This is a repair trade that’s getting closer to even. Current weekly is in the week before earnings. Saving earnings week for a nice juicy premium sale. Roll down of the weekly…
Rolled ADSK MAR 2 2018 118.0 Calls to ADSK MAR 2 2018 111.0 Calls @ 1.24 credit (2.19 total now)
REGN
#SyntheticStock -Roll down of the weekly into earnings really helped with the additional premium.
Bought to Close 3 REGN FEB 9 2018 345.0 Calls @ .10 (sold for 6.20 avg)
Sold 3 REGN FEB 16 2018 337.5 Calls @ 4.50
CELG
#SyntheticStock – Another week…so far easily collecting 3 times what’s needed to cover max loss even on this shorter term position.
Bought to Close CELG FEB 9 2018 101.0 Calls @ .04 (sold for 1.91)
Sold CELG FEB 16 2018 95.0 Calls @ .95
MU
#SyntheticStock – Nice gain on the weekly…volatility is really great for the premium sales. Core is July 43/43/41.
Bought to Close MU Feb 09 2018 43.0 Calls @ .02 (sold for 1.40)
Sold MU Feb 23 2018 41.5 Calls @ 1.13
BABA
#SyntheticStock – Weekly sale…core position is 175 strike in Jan 2020 so lots of time. You can really see the difference in option premium on a lot of these now.
Bought to Close BABA FEB 9 2018 185.0 Calls @ .05 (sold for .55)
Sold BABA FEB 16 2018 182.5 Calls @ 1.35
TSLA
Long term quest to become a model s owner one day. BTC 9 feb 370 call 0.10 STO for 3.15. STO 16 feb 355 call for 2.49. #syntheticstock
REGN
#SyntheticStock – I may regret this but making an aggressive roll down for earnings. This should turn it around…
Rolled REGN FEB 9 2018 407.5 Calls to REGN FEB 9 2018 345.0 Calls @ 4.03 credit (6.73 total now)
Rolled REGN FEB 9 2018 400.0 Calls to REGN FEB 9 2018 345.0 Calls @ 4.35 credit (5.95 total now)
Earnings before the open tomorrow with expected move of 13.40
AAOI
#SyntheticStock – Another week done. One more sale prior to earnings the following week…
Bought to Close AAOI FEB 9 2018 35.0 Calls @ .05 (sold for .60)
Bought to Close AAOI FEB 9 2018 35.5 Calls @ .05 (sold for 1.05)
Sold AAOI FEB 16 2018 33.0 Calls @ .55
DIS
#syntheticstock Still plugging away..BTC 9 feb 115 call .05 sto for 0.60..STO 16 feb 110 call for 0.65
Core is Jan 2020 100/100/95..need 0.16 per week to cover worse case.
EWW
#SyntheticStock – Rolled weekly to maintain positive delta. If the delta approaches zero again I’ll consider booking the winner.
Rolled Feb 50 to Mar 51 @ .10 credit
SVXY
#SyntheticStock – Taking a nibble at the 80 level for Jan 2019. Averaging down from earlier positions..
80/80/77.50 @ 25.50
Max loss 28.00 with 50 weeks so min sale required of .56. No weekly sale yet…
Overall…
#SyntheticStock positions actually holding up pretty nicely for now. Take out REGN and SVXY and it’s a flat day in main account. AAPL, AAOI, ADSK, and EWW green today. Crazy!
Just a quick note, I…
Just a quick note, I had some expirations but managed to roll all of them for more cash so they are all next week now. The last move like this in Aug. 2015 crushed (and I mean wiped out) a major trading account. Today my main trading account only down about $500, the hedges worked well.
See you can teach old dogs new tricks and thanks to everyone here for showing me some additional tactics that help on days like today.
Everyone have a good weekend, looking forward to Sunday night opening. Either way have some trades lined up and kept some cash on the side lines so I can take advantage of the blood in the street 🙂
Technically what only a 2-3% drop? Technically 2.31% on SPX/ES.
Cue the chicken, I am glad I closed the /ES strangle this morning. Not ITM but the margin would have used up my cash cushion for next week.
SVXY
#SyntheticStock – Only selling the minimum required to cover max loss if the trade runs the duration…
Bought to Close SVXY FEB 2 2018 120.0 Calls @ .10 (sold for 1.22)
Bought to Close SVXY FEB 2 2018 128.5 Calls @ .10 (sold for .93)
Sold SVXY FEB 9 2018 124.0 Calls @ .80
LUV
#SyntheticStock – Replacing this week’s expiration…
Sold LUV FEB 16 2018 60.0 Calls @ 1.00
MAT
#SyntheticStock – Just a quickie taking advantage of the bounce. Not sure why it’s bouncing since it missed earnings and was down all night but I’ll take it.
Sold to Close Jul 2018 16/16/14 synthetic stock / disaster put
Bought to Close Feb 2nd 16 call
Net gain of .88 per contract….
AMZN
#SyntheticStock – Was going to wait until after earnings but taking advantage of this little whoosh down to get the credit roll of my weekly.
Rolled AMZN FEB 16 2018 1210.0 Call to AMZN MAR 16 2018 1220.0 Call @ 1.10 credit.
Picking up another 11.10 of upside…
GS
#SyntheticStock – Textbook pop out of a nice squeeze. Actually gave it some room with the first weekly sale. 9 days so booking and looking to reset on any weakness.
Sold to Close GS Jan 2019 260/260/250 synthetic stock
Bought to Close GS Feb 2018 275 calls
6.17 per contract net gain…
PYPL
#Earnings repair trade with #SyntheticStock – Well…the put sales were looking ok until the Ebay announcement came out so we’re now in repair mode with this one. I really thought the stock would be down even further so not bad so far.
The put sales brought in 600 and the cost to close was 2330 for net loss of 1730. I’ve set up a synthetic with 10 contracts so I’ll add 1.73 to my total cost of the position.
Sold PYPL JAN 18 2019 80.0 Puts @ 9.47
Bought PYPL JAN 18 2019 80.0 Calls @ 10.28
Bought PYPL JAN 18 2019 77.5 Puts @ 8.64
This gives a net debit of 9.45 for the Jan 2019 position. Add the 2.5 point max downside and the 1.73 put sale loss and get a max loss possibility of 13.68. Based on that, and the 50 weeks remaining in the trade I only need to average about 27 cents per week in sales to cover the absolute worst case scenario.
So:
Sold PYPL FEB 9 2018 81.5 Calls @ .77
PYPL Earnings
#Earnings – Wouldn’t mind getting into #SyntheticStock on a pullback so aggressively selling half size here. Maybe get lucky and it takes off, otherwise double up and load up lower.
Sold PYPL FEB 2 2018 85.0 Put @ 1.92
Sold PYPL FEB 2 2018 84.0 Put @ 1.50
Sold PYPL FEB 2 2018 83.0 Put @ 1.13
Sold PYPL FEB 2 2018 82.0 Put @ 0.86
Sold PYPL FEB 2 2018 81.0 Put @ 0.64
Jan 30 #Fuzzy Land Hi…
Jan 30 #Fuzzy Land
Hi Guys! Quite a day today. Lots and lots of activity for me, hedges and protection working overtime.
1. I’ve got a decent number of Gorilla Fuzzies now (Fuzzies based on the Gorilla Trades Portfolio). These are all very small lot, mostly unhedged, with 50% GTC targets: ANSS, APH, BAH, BLDR, DAL, FLIR, IDTI, MYGN, PX, STZ, TSEM, VFC. Let me know if you want specifics.
2. Earnings run-up fuzzies: Open right now are ANSS, FLIR, VFC, MKSI (must be closed tomorrow), NTGR,
3. Closed one SPY Fuzzy bear today when hedge was blown, netted $1070.00
4. Opened new QQQ Fuzzy bear: Mar 169/169/171 @3.07 with Feb 9 164 hedge @.62
5. Closed VIX fuzzy for $530 profit on a 5-lot. I thought this VIX fuzzy was a really nice strategy. Any time we get a VIX pullback these will be layered in on the portfolio, unhedged.
6. LMT was a new fuzzy I opened yesterday, Mar 350/350/345 @ 7.83, it was hedged with 360 calls, closed those today for $2100 profit and reset at 355 for next week, based on trend exhaustion. Those may prove to be too tight.
7. Opened a new MCD fuzzy today (on the drop) for income, it did really well last month when I had it on. Apr 170/170/165 @ 4.88 hedged w/ feb9 175 @ 1.06.
The day was all about Fuzzy Bears, VIX fuzzy, Hedges and Protection, yay for those!
SVXY
#SyntheticStock – These are very low margin and low risk. Adding one or two more about every 20 point drop for now.
Added Jan 2019 115/115/112.5 Synthetic @ 34.50
37 max loss with 51 weeks to go. Need .73 per week for worse case so:
Sold Feb 2nd 120 calls @ 1.22
MU
#SyntheticStock – Aggressive sale so if these catch any heat my AAPL should be looking good…
Bought to Close MU FEB 2 2018 44.5 Calls @ .18 (sold for .60)
Sold MU FEB 9 2018 43.0 Calls @ .98
CELG
#SyntheticStock – Saw it on @smasty ‘s update and like the looks of it. Nice income and a tight squeeze also. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold CELG JUL 20 2018 105.0 Puts @ 9.08
Bought CELG JUL 20 2018 105.0 Calls @ 8.28
Bought CELG JUL 20 2018 100.0 Puts @ 6.65
This gives a net debit of 5.85 for the Jul 2018 position. Add the 5 point max downside and get a max loss possibility of 10.85. Based on that, and the 24 weeks remaining in the trade I only need to average about 45 cents per week in sales to cover the absolute worst case scenario.
So:
Sold CELG FEB 9 2018 106.0 Calls @ 1.11
SVXY
#SyntheticStock – Going for a double dip this week…
Bought to Close SVXY FEB 2 2018 138.0 Call @ .05 (sold for 1.80)
Bought to Close SVXY FEB 2 2018 136.0 Calls @ .09 (sold for 1.40)
Sold SVXY FEB 2 2018 128.5 Calls @ .93
AAOI
#SyntheticStock – Added a synthetic stock position on Friday (Jan 2019 35/35/30) and still keeping my other repair trade. Any decent bounce and maybe I can get out of this sooner. Not happening today though…
Bought to Close AAOI FEB 2 2018 37.5 Calls @ .05 (sold for .35)
Sold AAOI FEB 9 2018 35.0 Calls @ .60
MU
#SyntheticStock – Joining in on this popular ticker. Thanks @mortlightman for the reminder this morning. Saw it on @smasty ‘s update last night too but forgot. Going out a little further just in case more time is needed to cover max loss.
Synthetic Stock:
Sold MU JUL 20 2018 43.0 Puts @ 4.73
Bought MU JUL 20 2018 43.0 Calls @ 5.56
Bought MU JUL 20 2018 41.0 Puts @ 3.77
This gives a net debit of 4.60 for the Jul 2018 position. Add the 2 point max downside and get a max loss possibility of 6.60. Based on that, and the 25 weeks remaining in the trade I only need to average about 26 cents per week in sales to cover the absolute worst case scenario.
So:
Sold MU FEB 2 2018 44.5 Calls @ .60
Options Bistro 