Trade Adjustment : SCTY

Stock / Symbol: Solar City Corp / SCTY Option Strategy: [private_monthly]calendar call spread / diagonal call spread[/private_monthly] Trade entry date / price: Nov 7 / $51.30 Price at this post: $56.76 Adjustment: SCTY has moved up nicely but we were still able to allow the short Nov expiration call expire worthless. We’re currently up about […]

New Trade : VXX

Stock / Symbol: IPATH S&P 500 VIX SHORT TERM / VXX Option Strategy: [private_monthly]calendar call spread[/private_monthly] Price at trade post: $27.88 Reasoning: With market volatility once again relatively low, I’m putting on a [private_monthly]calendar call spread[/private_monthly] on VXX. The greeks going into this trade are: 50.4 delta, 3.0 theta, and 7.8 vega. Note that I’m […]

New Trade : SCTY

Stock / Symbol: Solar City Corp / SCTY Option Strategy: [private_monthly]calendar call spread[/private_monthly] Price at trade post: $51.30 Reasoning: Looking at a long term trade on SCTY using the sale of short term calls to generate weekly and monthly income. Fundamentally, SCTY is not great but I do like their business model. Solar City is […]

Closing Trade : TZA

Stock / Symbol: Direxion Small Cap Bear 3x / TZA Option Strategy: [private_monthly] calendar call spread[/private_monthly]; Trade entry date / price: Jan 29 / $18.52 Price at trade post: $18.90 Reasoning: Closing out the trade here for a quick 30% gain. Current greeks are: 79 Delta, 1.76 Theta, and 4.9 Vega. Closing Trade Details:[private_monthly] STC […]

New Trade : TZA

Stock / Symbol: Direxion Small Cap Bear 3x / TZA Option Strategy: [private_monthly] calendar call spread[/private_monthly]; Price at trade post: $18.52 Reasoning: Putting on a directional trade here as a low risk way to play the negative market reaction to today’s Feb meeting. Greeks are: 28 Delta, 3.75 Theta, and 3.4 Vega. Trade Details:[private_monthly] BTO […]

Closing Trade : SPY

Stock / Symbol: SPDR S&P500 ETF / SPY Option Strategy: [private_monthly]double calendar spread[/private_monthly] Trade entry date / price at trade post: Apr 18 / $154.50 Price at this post: $159.59 Current Position: Long 2 Jun13 150 puts Long 2 Jun13 159 calls Reasoning: While the addition of the 159 call calendar has significantly dampened the […]

Trade Adjustment : SPY

Stock / Symbol: SPDR S&P500 ETF / SPY Option Strategy: [private_monthly]put calendar spread[/private_monthly] Trade entry date / price at trade post: Apr 18 / $154.50 Price at this adjustment: $157.60 Reasoning: Adding a call calendar to smooth out the greeks. Current greeks are: -43.67 delta, -3.3 theta, and 37.3 vega. With the addition of the […]

Trade Adjustment : FAZ

Stock / Symbol: Direxion Daily Financial Bear 3x / FAZ Option Strategy: [private_monthly]calendar[/private_monthly]; Trade entry date / price: Apr 4 / $43.30 Price at this adjustment: $42.50; Reasoning: The Apr13 50 calls we sold will expire worthless today, allowing us to keep the $44 (10% uncalled return) in collected premium. Now, I’m selling next weeks […]

New Trade : FAZ

Stock / Symbol: Direxion Daily Financial Bear 3x / FAZ Option Strategy: [private_monthly]calendar[/private_monthly]; Price at trade post: $43.30; Reasoning: If we get a further pullback in the market, I think the financials will get hit hard. Playing my a downside thesis on the financials using a call calendar on the negatively correlated FAZ. The greeks […]

Trade Adjustment : RUT

Stock / Symbol: Russell 2000 / RUT; Option Strategy: [private_monthly]calendar spread[/private_monthly]; Price at trade entry: $920 Price at this adjustment: $926 Reasoning: Upside site hit. The trade’s greeks are currently : -17 delta, -2 theta, and 62 vega. To adjust, I’m going to add a [private_monthly]940 call [/private_monthly]calendar spread. The addition of the 2nd calendar […]