SVXY

#TakeOneForTheTeam – Punching out of this one for a small profit…

Bought to Close SVXY JUN 16 2017 160.0/155.0 BuPS @ 2.28 (sold for 2.76)

I’ll wait until Friday for a decision on my last few shares of SVXY…(covered by 137 calls)

NVDA

#ShortStrangles Sometimes to stop the insanity you have to do something insane. Time will tell if this was it…LOL

Rolled Jun monthly 160 puts up to 170 @ 7.50 credit.

Current position now 170/150 inverted @ 25.24

That’s still over a 5 dollar winner if NVDA finishes in between the strikes next week. Even if it does I may do some rolling to try and keep more of the premium. Can we classify this in the #TakeOneForTheTeam category?

SVXY

#TakeOneForTheTeam – Stock getting called away next week at 137 (maybe)…haven’t decided yet. I’ll try for a little more just in case.

Sold SVXY JUN 16 2017 160.0/155.0 Bull Put Spread @ 2.76

SVXY TOFTT update

#TakeOneForTheTeam – Was short a 160/155 put spread from a couple weeks ago. Of course was exercised early on the short 160 today. Immediately closed the 155 long put for 17.25. Originally received 2.80 for the spread so a grand total of 20.05 in premium to offset the 160 purchase price.

Stock basis of 139.95 is where she settled out…

I don’t feel like I really need this protection for the Jan 2018 short calls anymore so will aggressively try to unload this by selling a covered call slightly in the money.

Sold SVXY MAY 26 2017 137.0 Call @ 4.85

Still make a couple bucks with breakeven of 135.10

SVXY again

#VXXGame – Sort of a #TakeOneForTheTeam but pretty conservative. I’m losing a lot of long deltas from Sep and Jan put sales down in the 50, 55, 60, and 65 area so adding a few higher with a close eye on the previous ones. I’ll book those if things get dicey and leave these new ones. My position size is bigger temporarily but it won’t be if we get weak. These are margin free against short calls…

Sold SVXY JAN 19 2018 70.0 Put @ 2.56
Sold SVXY JAN 19 2018 75.0 Put @ 3.21
Sold SVXY JAN 19 2018 80.0 Put @ 3.90

SVXY for the team

#TakeOneForTheTeam – Took an additional stealth one for the team (didn’t post it due to the risk). Sold this week’s 151/156 BuPS early in the week. Got assigned last night on the 156 put so this morning sold the long put @ 2.20. Received 2.84 for the original sale so in the stock @ 151.

I’ll probably hang on to it for awhile to help protect Jan 2018 short calls @ 225, 230, 235, 240, 245, 250, and 255.

As of right now delta on the shares vs the short calls is -27. This becomes delta neutral @ 140.55 so I may end up selling a few more calls for some extra downside protection.

SVXY for the team

#TakeOneForTheTeam #ShortStrangles – Looks like we need another one of these so here goes….

Sold SVXY MAY 19 2017 160.0/155.0 Bull put spreads @ 3.07

Even with an implosion I’ll get the stock just a measly 1.93 below where it’s trading then…

#shortputs