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barn32
05-22-2017, 10:43 AM
luv, B, 2, June, 23, 58.5, C, $1.60, .09, $320.09

[Southwest Airlines, bought, 2 June 23, 58.5 calls for $1.60, commission .09˘, total cost $320.09]

https://www.screencast.com/t/WTTgDv5A8

Tape Reader
05-22-2017, 10:47 AM
Good luck! Luv the thread.

AltonKelsey
05-22-2017, 05:15 PM
9 cent commission? Really?

I guess it might be possible if there was a rebate. Was that the case?

barn32
05-22-2017, 07:15 PM
9 cent commission? Really?

I guess it might be possible if there was a rebate. Was that the case?Yes.

Actually, I had the same question when I saw the commission, because I had never seen one quite that low before. I called them and was told it depends somewhat upon the exchange it was routed through (in this case PSE), but more importantly it's whether or not you are providing liquidity.

Since my bid for the option was under the market and the price came to me I was providing liquidity--hence the rebate. Otherwise, such as in the case of a market order, the commission would have been appx .85˘ or $1.90 total, $1.40 of which is IB's commission.

Here is a link to IB's commissions. (https://www.interactivebrokers.com/en/index.php?f=commission&p=options1)

barn32
05-23-2017, 10:53 AM
https://www.screencast.com/t/tPwojE02

barn32
05-23-2017, 11:07 AM
https://www.screencast.com/t/hgb5JXQ9NXR

barn32
05-23-2017, 11:38 AM
Trades so far:

barn32
05-23-2017, 01:11 PM
abx, b, 5, June, 23, c, .20, $102.47

barn32
05-23-2017, 01:42 PM
cpn, b, 3, sep, 15, c, $4.93, $195.93

barn32
05-23-2017, 02:29 PM
myl, b, 2, June, 40, p, $1.14 .99, $228.99

barn32
05-23-2017, 02:48 PM
skx, b, 2, June, 23, 23, c, $1.45, $1.58, $299.58

AltonKelsey
05-23-2017, 03:24 PM
Yes.


Here is a link to IB's commissions. (https://www.interactivebrokers.com/en/index.php?f=commission&p=options1)


Thanks, I've been an IB customer for 15 years or so. Yep. Maybe longer, you lose track over the millennia

barn32
05-23-2017, 03:59 PM
cxw, b, 2, sep, 15, p, $1.75, $0.09, $350.09

barn32
05-23-2017, 04:05 PM
I put on 10 trades today, and only 1 is winning.

barn32
05-23-2017, 04:31 PM
https://www.screencast.com/t/ipasuDZGNRdl

barn32
05-23-2017, 05:04 PM
13 Trades today--14 total

4 Winning
10 Losing

barn32
05-24-2017, 11:12 AM
X, b, 2, aug, 25, c, $1.20, $1.59, $241.59

barn32
05-24-2017, 11:25 AM
nbr, b, 2, july, 21, 11, c, .53, 1.29, 107.29

barn32
05-24-2017, 11:29 AM
time, b, 2, jan, 15, c, .52, -.01, 103

barn32
05-24-2017, 11:37 AM
syf, b, 2, july 21, 17, c, 1.20, .09, 240.09

barn32
05-24-2017, 11:49 AM
tcs, b, 2, june 16, 5, c, .80, 1.59, 161.59

barn32
05-24-2017, 01:49 PM
lng, b, 2, July, 55, .79, 1.59, 159.59

barn32
05-24-2017, 02:09 PM
dg, b, 2, June 16, 70, p, 2.15, 1.59, 431.59

barn32
05-24-2017, 03:35 PM
pep,b, 2, sep, 125, c, .43, .99, 86.99

barn32
05-24-2017, 05:18 PM
8 trades added today, 20 total, all open

13 winning

7 losing

barn32
05-24-2017, 05:50 PM
8 trades added today, 20 total, all open

13 winning

7 losing

22 trades total

13 winning

9 losing

barn32
05-25-2017, 06:03 PM
Added eight trades today; 30 trades total

Currently 14 winning trades:

16 losing trades:

barn32
05-26-2017, 05:10 PM
13 trades today. One FFM (fat fingered mistake that cost me $80. I Tried to sell 1 LUV farther out of the money call to establish a spread for a hedge and bought 1 instead, so screw it, I just kept it. And by the way, just for the record, that never works. When you (I) make a mistake reverse it immediately. Had I done so the loss would have been $10.[Note to self.])

Good day though, overall.

2 hedges.

Sold 1 ALGN farther out of the money call establishing a bull spread.
Sold 2 BERY farther out of the money calls establishing a bull spread.

43 open positions, 2 spreads.

19 winning trades

24 losing trades

barn32
05-30-2017, 05:15 PM
8 new trades (all puts, I guess I needed a little negative Delta as they say)

6 Hedges

Sold 3 LUV 60 calls for $1.34 to complete hedge position

Sold 1 AlGN 145 c for $4.50 to complete hedge

Sold 2 DG 68 puts for .70˘ to hedge (earnings on the 2nd, hoping for bad news)

Bought instead of sold (ffm) 2 sep 29 imax calls for .77 as a hedge
got out for a $30 mistake

Sold 2 imax sep 28 for .88 as a hedge

Sold 2 sep 15 pep calls for .53 as a hedge

Bought puts in NBR (ffm) was already long, lol

[Bad day overall, I don't think I have enough positions on]

barn32
05-31-2017, 08:41 PM
Break even day. Took some profits (shown in spread sheet). Added four trades.

ROI only reflects closed out trades. Still a lot of open positions. As I close out the trades, I'll post the win, loss and ROI for all of them.

Of the open positions:

25 are winning

30 are losing

Sold half of MU was up over 100%, and I'll let the rest ride for a while.

Sold all of the SKX up over 100%.

Have two earnings plays on for tomorrow. BOX and DG. I need both to miss, but that's the good thing about options my loss is limited and I still might be able to hedge off some of the loss if they go up. I'm losing in both pretty good as it is anyway, so I don't have much more to lose and everything to gain.

barn32
06-01-2017, 04:17 PM
Added one trade today. Going to be more selective. Way too many positions on.

Did two day trades for a small scalp and closed out my partial hedge on DG.

DG and BOX both went against me, so if there is no rebound by June 16th I'll suffer the full loss on both of them.

22 winning positions

34 losing positions

_______
06-02-2017, 11:57 AM
Sold a covered call on a portion of my AAPL holdings.

160.00 7/21 $1.52

It's a decent premium in this market and if it's called away will be almost a 70% gain on the purchase price.

Ocala Mike
06-02-2017, 12:31 PM
I like the above Apple move, selling the covered call.

barn32, I don't know you and I mean no offense, but I gotta think you're "action happy." Remember, bulls and bears can make a profit on Wall Street, but not so much pigs. You're gonna get killed with commissions and price shavings, no?

Worked with a guy at the track in the late 70's who thought he could beat the game with options; he went bust.

I have only one position, long in an instructional software company - I've got a double in it from a 15 months ago purchase. "Buy and hold."

barn32
06-02-2017, 03:22 PM
06/02/17, shop, b, 2, jul, 21, 100, c, $6.10, ($0.01), $1,219.99

barn32
06-02-2017, 03:26 PM
barn32, I don't know you and I mean no offense, but I gotta think you're "action happy." You're not far off. I'm experimenting with some things. I usually learn by doing.

As things stand right now, if I liquidated everything I'd be down about $100.

Ocala Mike
06-02-2017, 05:57 PM
Not a bad investment for a learning experience, right?

barn32
06-02-2017, 08:57 PM
Not a bad investment for a learning experience, right?I've learned a ton. Made a lot of good decisions and a lot of bad ones. I've got some good ideas out of it as well, especially for next earnings season.

I had one trade today, and closed out 7 others.

55 open trades.

16 winning

39 losing

Wow. It looks worse than it is, but it's still bad. I've cashed for $1450, and the existing trades are down $1700.

barn32
06-04-2017, 03:08 AM
Here is one little interesting tid-bit that I've learned.

The Average EPS Earnings Season 'Beat Rate' Is 62% (http://www.investopedia.com/news/average-eps-earnings-season-beat-rate-62/)

barn32
06-05-2017, 05:13 PM
One trade today. Nothing closed out. Will be closing out a lot of big losers soon.

Some of these far out in time trades are based on possible takeover chatter, such as Sprint (S), which might, maybe, could be taken over by T-Mobile (TMUS). If that happens, then you have a real home-run.

Either way, entire portfolio is up about $250. We'll see what tomorrow brings.

[ilg, b, 2, dec, 15, 29, c, $1.15. $.09]

oughtoh
06-05-2017, 05:43 PM
What is something someone can read to understand what options are?

barn32
06-05-2017, 05:52 PM
What is something someone can read to understand what options are?Lots of stuff online, but this book is free. ($10 for shipping) I'm reading it now.

22 Rules of Investing (https://investitute.com/22rules/), plus it comes with a PDF Options Strategy Guide.

ReplayRandall
06-05-2017, 06:26 PM
Lots of stuff online, but this book is free. ($10 for shipping) I'm reading it now.

22 Rules of Investing (https://investitute.com/22rules/), plus it comes with a PDF Options Strategy Guide.

These guys are nothing but re-hashers, using the term "investing" rather than "trading"......If you want the "original", it's Dennis Gartman’s 22 “Rules of Trading", clearly superior.

http://www.sfu.ca/~poitras/Rules.pdf

barn32
06-05-2017, 08:47 PM
These guys are nothing but re-hashers, using the term "investing" rather than "trading"......If you want the "original", it's Dennis Gartman’s 22 “Rules of Trading", clearly superior.

http://www.sfu.ca/~poitras/Rules.pdfI had you on ignore, but somehow you snuck through.

You, as usual, have no idea what you're talking about. The "books" are completely different. And since, you haven't read the former you would have no way of knowing if it's superior, inferior, fiction or fact.

The book I recommended and the accompanying PDF are exclusively about options.

I've never heard of Dennis Gartman.

Back on ignore you go.

barn32
06-06-2017, 06:45 PM
No new trades. Rolled two winners into spreads.

60 open trades

22 winnners

38 losers

Cashed for $1450

Open trades minus -$1000

barn32
06-07-2017, 11:34 PM
Added two bull spreads in XOP (oil)

Rolled three winners into spreads (as a hedge)

Sold off a small winner ($40)

17 positions expire next week, or the week after, on June 16 and June 23 (Unless I roll), and as of now 13 of them are losers.

Appx. 57 positions

23 winners

34 losers

Bad day today. Currently around breakeven, which is where I'm hoping to end up when all is said and done.

barn32
06-08-2017, 07:02 PM
Added 1 trade:

CBI, b, 2, july 21, 15, p, 1.04, 1.59

I missed the big move in CBI becaue of a FFM, which cost me $300, plus what I would have made so let's say a $500 error. (I bought calls instead of puts.)

Rolled two winners into vertical spreads. JD and CENX were both up good today, so I sold farther out of the money calls to offset the risk and potentially add to the gains.

Sometimes, if a stock is up enough, a farther out of the money call (or put) will be more expensive than the one you originally bought. In that case, you can sell that option for more than you paid for the original option purchased and lock in a gain--thereby turning the trade into a spread. The farther out of the money option doesn't have to be more expensive for you to create a spread, however. In that case you have just reduced your loss.

I also had a good reverse earnings play in DVMT, turning a $200 loser into a $100 winner.

As you can see from the screenshot my hedge in CENX didn't work out too well. It cost me quite a lot. That -$335 is overinflated I believe, but it's not over yet. Obviously, in hindsight, I should have waited or just liquidated the position for a $556 gain...all of that gain came in today, by the way, with the stock only up ~$2.00.

CENX also closed at the high of the day on strong volume, so if it continues to rise I really may be kicking myself. (2nd screenshot.)

A few points move in a stock can really make these options swing...up or down.

And just for the record a big part of this experiment for me is the outright buying of options (puts and calls.) Something I have never done before. I've done spreads and sold lots of options both covered and naked, but until I started this thread I had never before purchased a single option.

I can see now there is value in this strategy if you do your homework and keep things under control.

Appx. 69 positions

31 winners

38 losers

Good day over all, +~$900.

barn32
06-09-2017, 11:23 AM
I've been short SNAP for a little while now, patiently waiting. I was going to buy more puts today, (should have done it yesterday, sigh), but it's already made a big move down. Watching it closely for a place to get in again. And, if this article is true (https://www.bloomberg.com/news/articles/2017-06-08/snap-is-most-shorted-tech-ipo-of-2017-as-lockup-expiration-nears), then it should be headed even lower.

I looked at the open interest across four or five months and there is indeed a lot of put buying in SNAP going all the way out to JAN of 2018.

With options your risk is limited, so if you decide it's worth a $300 risk then that's all you lose. If the stock goes down 10 or 20% that's all you make shorting the stock. But you could make 25, 50, 100, 200% or more buying options.

It works in both directions, but in the case of shorting a stock you don't have to worry about the downtick rule, nor do you have to be concerned about there not being enough shares available to borrow, which can make it difficult to get filled.

barn32
06-09-2017, 12:48 PM
As I write this the DOW is up over 100 points yet my account is down a few bucks. Why? I think it's due to over-hedging.

Here's a screenshot of an over-hedge. Had I just left well enough alone I'd be up ~$800 in this trade, but as it stands I'm only up $300.

Rolling into spreads works sometimes and sometimes it doesn't. If the stock heads south, in the case of calls, or up a small amount, it works, but if the stock heads a lot higher you lose profit.

Since I trade in even numbered pairs I'll probably look at just selling off half the position on a good run and letting the rest ride. That way, if it falls back to the purchase price I can still exit with a profit.

It looks like I did sell off half of ALGN, but then instead of letting the second half ride I hedged it off.

barn32
06-09-2017, 10:16 PM
Bad day, down $800. Mostly in two stocks.

SHOP was +$2.00 and then when the flash crash hit it was down $9.00! That's an $11.00 swing. Not fun. It's down $6.50 now.

I was hedged for a couple hundred of that, but that's it. That was my biggest problem.

I closed out about 17 trades, mostly winners and spreads, because they didn't have much life in them anyway.

54 total open

23 winners

31 losers

Cashed for $2600 (thumbnail)

Current positions down $2400.

barn32
06-12-2017, 10:43 PM
I'm starting to lose track. So far I've made 87 opening trades. I've added half a dozen more, but I'm not including them in this little adventure. When these current postions expire I'll end this thread.

I'm the only one who gives a shit, and I only did this to keep myself honest.

I closed out about 5 today.

There's something like 52 still open.

8 are spreads

17 winning

35 losing

12 expire Friday, only 1 winner

-$100 overall.

oughtoh
06-12-2017, 10:51 PM
I, for one, have enjoyed reading your posts.

Tape Reader
06-13-2017, 10:24 AM
I, for one, have enjoyed reading your posts.

Me too.

barn32
06-13-2017, 01:07 PM
OK, two more that I just put on about 45 minutes ago, and one yesterday.

I only bought 50 shares of MSCI, because I thought it might pull back and I could buy 50, or 150 more cheaper. Instead it got away from me after it filled the 50 lot and the two options. I have high hopes for these two.

The third one is Citybank (C). I bought some calls that expire Friday in the hopes that the Fed raises interest rates (98% chance?) and that these could double, triple or quadruple by then.

_______
06-13-2017, 09:15 PM
OK, two more that I just put on about 45 minutes ago, and one yesterday.

I only bought 50 shares of MSCI, because I thought it might pull back and I could buy 50, or 150 more cheaper. Instead it got away from me after it filled the 50 lot and the two options. I have high hopes for these two.

The third one is Citybank (C). I bought some calls that expire Friday in the hopes that the Fed raises interest rates (98% chance?) and that these could double, triple or quadruple by then.

I'm not sure Citi or other large banks will react as you project. At least if history is any guide.

https://seekingalpha.com/article/4081245-bank-america-moved-fed-hikes

Good luck on all of your options. I didn't know this about treasury yields or bank stocks following fed rate hikes. It does seem counterintuitive.

I was going to comment that C was less a pure play on interest rates than BAC would be.

Hopefully it all works out for you.

barn32
06-14-2017, 01:51 PM
What a horribly depressing day when you have to close out a bunch of losers for pennies on the dollar.

barn32
06-14-2017, 03:13 PM
I'm not sure Citi or other large banks will react as you project. At least if history is any guide.

https://seekingalpha.com/article/4081245-bank-america-moved-fed-hikes

Good luck on all of your options. I didn't know this about treasury yields or bank stocks following fed rate hikes. It does seem counterintuitive.

I was going to comment that C was less a pure play on interest rates than BAC would be.

Hopefully it all works out for you.Looks like you were right. I bought them for 8˘ and sold them for 3˘, a $53 loss.

In retrospect, that could have been a mistake. For $80 lousy dollars I could have just held them until Friday and maybe these stocks would jump.

Goldman Sachs (GS) came back pretty good.

barn32
06-14-2017, 03:30 PM
GS (which I've owned for a while now) and C are coming back, so I just bought 2 of the july, 21, 65 calls in C for $1.48.

I have more time and we'll see what happens.

If it ends up being a mistake, I'll just put it in the pile.

barn32
06-14-2017, 07:31 PM
97 trades made

Closed out 12 trades, 9 were losers

49 open trades

15 winners

34 losers

Down about $400

Morning of the flash crash I was up $1200.

I'm actually amazed I'm only down $400 with so many losing trades.

I have made so many mistakes. (Not counting the ~$1000 in FFMs)

I'm not taking profits soon enough. Since I buy in even numbered pairs I need to sell off half when I make a quick hit. That way if it falls back to the purchase price I can close it out and still show a profit. I missed quite a few of those opportunities. Being greedy I guess.

Took on too many trades, obviously. Now I'm much more selective.

There are other errors too numerous to mention.

I'm beginning to feel like an old option. My time is getting short. I'm starting to fade. I'm slowly losing value. And I will soon expire...worthless.

barn32
06-16-2017, 06:56 PM
It just shows you that you should never give up. I was long 2 of the 70 DG (Dollar General) puts for around $2.15 apiece. The stock was at 75 and they expire today.

So I was going to lose the max of about $430. I wake up a little late and I'm only down $30. Stock had gone down five or six points! By the time I could get filled and out at $1.35 I lost $162. Turns out at one point just after the open I could have got out + $200!

[Note to self: don't sleep in]

*DG came all the way back to 70 and the puts are now worthless, so at least I saved about $300. It turns out that DG was part of the AMZN purchase of WFM (Whole Foods), and all of those type of retailers got hit. Kroger, Wal-Mart, etc.

I'm including all of my options trades, day trades, scalps, etc., even the ones I haven't posted otherwise this whole shebang is getting too unweildly.

Over the last three days I closed out ~27 positions, some of which expired worthless.

104 total trades made

51 open trades
19 winners
32 losers

Cashed for $2684
Open positions down -$2600

barn32
06-19-2017, 02:56 PM
I just put on earnings trades for seven different stocks that all report this week.

All but the ORCL 48/50 spread, which I've had on for almost two months now are "one for one," or "in-out" spreads. With the underlying at say, 100, you would buy the 99 put and sell the 101 put (one in the money, and one out of the money) trying to get as close (or over) a $1.00 credit as possible. You are risking $1.00 to make $1.00, more or less.

Some of these I had to "fudge" slightly to get the $1.00 credit.

You can do these with puts or calls. With puts you get a credit and with calls you have a debit.

All of these except Adobe are put spreads.

In LEN I couldn't construct a decent spread, so I bought JULY calls instead.

I have seven spreads and two outright call positions.

_______
06-19-2017, 08:09 PM
I just put on earnings trades for seven different stocks that all report this week.

All but the ORCL 48/50 spread, which I've had on for almost two months now are "one for one," or "in-out" spreads. With the underlying at say, 100, you would buy the 99 put and sell the 101 put (one in the money, and one out of the money) trying to get as close (or over) a $1.00 credit as possible. You are risking $1.00 to make $1.00, more or less.

Some of these I had to "fudge" slightly to get the $1.00 credit.

You can do these with puts or calls. With puts you get a credit and with calls you have a debit.

All of these except Adobe are put spreads.

In LEN I couldn't construct a decent spread, so I bought JULY calls instead.

I have seven spreads and two outright call positions.

I bought one 6/23 212.50 FDX call for 3.40 so we are both looking for earnings that beat on that one.

For me this is fairly silly because the in/out transaction costs will be over $11 so I need 3.52 just to break even. I'll be out Wednesday morning one way or the other.

barn32
06-19-2017, 08:21 PM
I bought one 6/23 212.50 FDX call for 3.40 so we are both looking for earnings that beat on that one.

For me this is fairly silly because the in/out transaction costs will be over $11 so I need 3.52 just to break even. I'll be out Wednesday morning one way or the other.The only problem I have with buying weekly options on an earnings play is that even if it beats the vol crush could destroy any profits. Unless of course, it beats big time.

That's why in the two stocks where I did buy calls I went out one month.

barn32
06-20-2017, 02:01 PM
I bought ICLR yesterday near the close, and also purchased 2 calls one of which I've already sold. The stock has already made a nice move today.

This morning I sold a covered call against my long stock.

barn32
06-20-2017, 02:24 PM
Even with the $100 Million dollar infusion (http://www.cnbc.com/2017/06/19/time-warner-snapchat-agree-to-100-million-content-partnership.html)yesterday from Time Warner, SNAP continues to fall. (It did go up good yesterday on the news.)

I sold one of my options a few days ago and I'm letting the remaining one run. How far it will fall is anybody's guess.

barn32
06-20-2017, 10:22 PM
My original intention with the earnings plays was to do the following:

1. Buy 2 weekly options expiring on Friday
2. Buy 2 monthly options expiring July 21
3. Put on 2 one for one spreads for each stock.

Then, because I had some skin in the game, I could compare the various outcomes for future reference. But in the end, I got conservative and only did the one for ones and purchased options in just two of the stocks.

My biggest concern was about the vol crush on the weekly options. FDX is a good example. The stock could go up a point or three, but you could lose money on the weeklies when the volatility gets sucked out.

If I had actually done everything I originally intended, I'd know exactly how things played out. When I don't get involved I get too lazy to go back and check.

Four earnings plays came in today and they all beat.

LEN
ADBE
RHT
FDX

ADBE and RHT were home runs, but I only had extra calls on ADBE. (I think Red Hat is up eight or nine points in after hours. Adobe is up five or six.)

Luckily, I exited my LEN right near the top early in the day.

FDX is barely up, but the one for one should succeed.

ORCL and KMX report tomorrow and BBRY on Friday.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

118 trades made, 78 closed out.

Closing trades cashed for $3300, and the open trades are losing $1700.

Last two or three days have been good.

55 open trades

24 winners, 31 losers

The ROI for all of the closed trades is running right around 12.5%

barn32
06-21-2017, 02:15 PM
Just took a shot on Canada Goose (GOOS) This stock is a newer IPO that was issued in March.

It had a good turn around today on spike in volume. Hope it flies away.

Thinking about taking a shot in Kroger (KR). What, is this AMZN/WFC deal going to put them into bankruptcy? I buy Kroger products.

On the option front FDX looked like a 100% loser and it turned around and could be a 100% winner.

KMX (Carmax) looked like a 50 to 100% winner and now it looks like a 100% loser. All I can do is hold on till Friday and hope it spikes up again. I don't really think it will because KMX was down $2.50 yesterday (normally, but not always a bad sign before earnings) and that is all the more reason I should have got out on the upward spike this morning (it was up $3.00 at one point and now it's down 50˘)...I just wasn't nimble.

You have to be nimble after earnings are announced because in many cases after a big spike up (or down) they will give back. It's not always the case, but it happens a lot. Sometimes, when they report after the close there will be a big spike only to see it evaporate by the time the market opens.

Got out good on my long ADBE (Adobe) options, (in this case I was nimble) still in the spread.

I think ORCL (Oracle) will beat, (famous last words), so I bought some stock and one more august call, and I scalped some NVDA. I closed out my last call in CBI (Chicago Bridge and Iron for a ~100% gain.)

This day started out really well, up about $800, and now I'm up about $400. Aye, yai, yai, yai,yai.

barn32
06-22-2017, 12:18 PM
I've been making the cash register ring this morning, but pretty soon it's going to be ringing in the other direction.

I have a lot of losing positions just sitting on the books waiting to be closed out or expire.

:(

barn32
06-22-2017, 12:32 PM
You can see what I mean right here.

barn32
06-24-2017, 12:18 AM
Weekly Options Summary:

Good week for earnings plays. Bad week for other positions.

I had 11 earnings plays for the week. 10 with options and 1 with stock. All of them are closed out now and the options plays are up +$1878. [The stock play was up $195.] There were 8 winners and 1 loser. [Options]

ADBE July 21, 1, 140 call +$364
ADBE June 21, 1, 140/142 bull call spread +$101

ORCL July 21, 4, 48/50 bull put spreads +$660
ORCL Aug 18, 1, 46 call, +$302
[ORCL 50 shares +$195]

FDX june 23, 1, 207.5/210 bull put spread +$98

KMX june 23, 1, 61/63 bull put spread, +$48

RH June 23, 1, 90/92 bull put spread +$106

LEN July 21, 4, 57.5 calls +$308

BBRY June 23 10/12 bull put spread, -$109


Invested $1878

Profit $1810

Weekly Earnings ROI 96.37%


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Total option plays since I started posting have cashed out for +$4975

Open option positions are down -$2900.

I'm showing a net gain of +$2075 and an ROI of 17.63% on closed positions--13.21% on all positions.

_______
06-25-2017, 07:03 PM
:headbanger:

barn32
06-26-2017, 12:28 PM
Three earnings plays for this week:

MU, 2, july 14, 32/34 bull put spreads, -1.04 (credit)

PAYX 2, july 21, 60 calls 1.20 (debit)

KBH 1, july 24, 22/24, bull put spread, -1.12 (credit)

barn32
06-26-2017, 02:31 PM
For what it's worth, I'm the most confident about my MU earnings play, so I added 50 shares of stock @ $32.42, and I bought one AUG 18, 33 call for $2.13.

That should be it.

barn32
06-26-2017, 09:29 PM
Not a good day. Was horrible, but came back some. Was down ~$1100 at one point and ended up being down ~$350.

I can't wait to get out of most of these trades and concentrate more on earnings plays. Earnings season will get into full swing about mid-July so I want to be ready. It's a lot of work.

Closed out some big losers, which were originally intended as hedges, but ended up being nightmares instead. The mistakes I made hedging are too painful to even think about. I know what they were. In one case I turned a decent winner into a big loser. From +$200 to -$700. And that's just one. I thought I was being smart and it turns out I was being incredibly stupid.

Needless to say I won't make them again.

All of the errors I've made so far including the FFMs could pay for a nice vacation.

41 open

15 winning

26 losing

Currently up about ~$1500. ROI about 12%/9%.

Tape Reader
06-27-2017, 02:48 PM
bot10SPY628c242 0.51

barn32
06-27-2017, 02:52 PM
bot10SPY628c242 0.51I hope that's a winning trade for you.

Tape Reader
06-27-2017, 04:19 PM
bot10SPY628c242 0.51

Sold at .56. + $50

_______
06-30-2017, 11:30 AM
The only problem I have with buying weekly options on an earnings play is that even if it beats the vol crush could destroy any profits. Unless of course, it beats big time.

That's why in the two stocks where I did buy calls I went out one month.

You were, of course, dead right on this.

I got crushed on the short dated option I chose. Had I gone out to 7/21 as I did selling the AAPL call, this would be well in the money.

barn32
06-30-2017, 12:52 PM
Weekly Earnings Results:

MU beat earnings for the eighth consecutive quarter

EPS $1.62 beat by $0.11
Revenue 5.57B beat by $160M

Stock is down -$1.45

Sometimes that happens, and sometimes it also happens in reverse. It doesn't do that too often, but it's depressing when it does.

PAYX missed -$240 (but have 3 weeks left on the option)

KBH beat +$54

MU -$369 (so far; max loss is $516. One spread expires today, one in july and one call in August. If tech continues to get hammered it will probably be a 100% loss. If it comes back some, it could be a smaller loss or even a win. I'm going to watch it closely, and I'll just call it minus $-400.)

$745 invested -$585 Return, -78% ROI

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Closed positions +$4150

Open positions -$3100

Net gain +$1050

40 open positions

13 winning

27 losing

barn32
07-02-2017, 01:56 AM
I'm going to end this thread. The next two or three months will be very busy for me and keeping up with everything has become a little bit cumbersome.

I have 15 positions expiring in July and the rest go out as far as January. Most of my losing positions are at a full loss or close, but some of them have some time to recover, although it isn't too likely. One or two might sneak through though you never know.

As I write this it looks like I eeked out a small profit of about $800.

I may post something from time to time and I may also start an earnings thread if it doesn't interfer too much with my work. I'll have to see.

It was a good exercise, and I'm glad I did it.

For the two people who were following I hope you were entertained.

Good luck to everyone trading.