coveredcalls

NaughtyPines NaughtyPines VRX, 180, 4 months ago
VRX: TRADE IDEA: VRX "MONIED" COVERED CALL
68 4 3
VRX, 180
TRADE IDEA: VRX "MONIED" COVERED CALL

Let's start with the metrics for this setup: Buy shares at 24.54 Sell Nov 18th 22.5 short call Whole Package/BE/Cost Basis: 20.40 db per 100 shares/contract (20.40 is also your cost basis and break even) Max Profit: $210 per 100 shares/contract (if called away at 22.50) ROC: 10.3% Now, ordinarily, I like to do "OTM" (i.e., out-of-the money) covered calls where ...

NaughtyPines NaughtyPines GDX, 240, 5 months ago
GDX: OPENING: GDX COVERED CALL
59 1 2
GDX, 240
OPENING: GDX COVERED CALL

Bought shares at 26.02 and sold the Oct 21st 26.5 call for a 24.86 ($2486) per 100 shares/contract debit. In this particular case, I'll be looking to take this off for 105% of what I paid to put it on: 1.05 x 2486 = 2610, which should yield about $120/contract in profit. I usually shoot for 110% (or a 10% ROC), but am just looking to get in and out of the trade ...

NaughtyPines NaughtyPines GDX, W, 5 months ago
GDX: FOR 45 DTE SETUPS, ROTATING INTO ETF'S
31 0 3
GDX, W
FOR 45 DTE SETUPS, ROTATING INTO ETF'S

Sometimes life just plain ass gets in the way of your trading ... . Starting October 1st, my "number's up" for jury duty for the entire month of October. I may be called to serve any time during this period, sit for a lengthy period of time in a room, and then be excused because the parties have reached a last minute agreement or I may have to sit through an ...

NaughtyPines NaughtyPines WLL, 240, 5 months ago
WLL: OPENING: WLL COVERED CALL
26 0 0
WLL, 240
OPENING: WLL COVERED CALL

Did this at open, after which the underlying tanked ... . Heck, what hasn't tanked in today's market. In any event, continuing to work this sub $10 high IV underlying here. Metrics: Bought 100 Shares at 7.48 Sold Oct 21st 8 call Whole Package: 6.94 debit Max Profit: $106 ROC: 15.3%

NaughtyPines NaughtyPines CHK, D, 5 months ago
CHK: OPENING: CHK COVERED CALL
82 0 1
CHK, D
OPENING: CHK COVERED CALL

Continuing to work this high IV underlying here ... . Metrics: Bought 100 Shares at 7.76 Sold Oct 21st 8 call Whole Package: 7.14 debit Max Profit: $86 per 100 shares/contract ROC: 12.0%

NaughtyPines NaughtyPines NVAX, D, 5 months ago
NVAX: NVAX TRADE UPDATE
116 6 1
NVAX, D
NVAX TRADE UPDATE

I figured I'd clean up this setup a little bit on the chart to show what's going on with this trade a little more clearly, since we're running into opex, and I'll have to do something with it here shortly. I also for mapping out what I'm going to do if price does certain things relative to my cost basis and original stock purchase price. The trade originally ...

NaughtyPines NaughtyPines DDD, 240, 5 months ago
DDD: TRADE IDEA: DDD OCT 21ST 14 NAKED SHORT PUT
28 0 0
DDD, 240
TRADE IDEA: DDD OCT 21ST 14 NAKED SHORT PUT

Looking to either (a) keep the premium; (b) get put the stock cheaper, after which I'll proceed to sell calls against ... . Metrics: Probability of Profit: 75% P50: 84% Max Profit: $59/contract Break Even: 13.41

NaughtyPines NaughtyPines AG, D, 5 months ago
AG: OPENING: AG COVERED CALL
103 0 4
AG, D
OPENING: AG COVERED CALL

My timing could have been somewhat better on this at the sub-12 dip, but better late than never ... . Metrics: Bought 100 Shares at 13.25 Sold Oct 21st 14 call Whole Enchilada: 12.30 db Max Profit: $170 (if called away at 14) ROC: 13.8% Notes: I promised myself after closing out my XME short put that I wouldn't be dipping into any more miners ... . Just ...

NaughtyPines NaughtyPines AMD, W, 5 months ago
AMD: TRADE IDEA: AMD COVERED CALL/NAKED SHORT PUT
114 0 1
AMD, W
TRADE IDEA: AMD COVERED CALL/NAKED SHORT PUT

My "guess" is that AMD will not hold onto this level (I briefly considered going "monied" with the short call with the covered call setup, selling the 7 strike instead of the 8). However. implied volatility is fairly high here (64.6%), and my mechanical approach to most of these setups is basically to "ditch the guessing" and pull the trigger; price will go where ...

NaughtyPines NaughtyPines VIX, D, 5 months ago
VIX: WITH VIX SUB-15, PREEM SELLING OPPS ARE OUSTIDE BROAD INDICES
41 0 2
VIX, D
WITH VIX SUB-15, PREEM SELLING OPPS ARE OUSTIDE BROAD INDICES

As I've posted several times before, my preference generally is to (1) sell premium in broad-based index instruments (e.g., SPY, IWM, QQQ, SPX, RUT) if VIX > 15; and (2) if VIX < 15, look for premium selling opportunities in non-index exchange traded funds with implied volatility of >35% and/or individual underlyings with implied volatility of >50% and where the ...

NaughtyPines NaughtyPines GNW, D, 5 months ago
GNW: OPENING: GNW COVERED CALL
17 0 3
GNW, D
OPENING: GNW COVERED CALL

Taking advantage of this "little" dip here to initiate a covered call in this little, high implied volatility bugger (at some point, I'll make the move to "quality" ... ). Metrics: Bought Shares at 4.73 Sold Oct 21st 5 call Whole Package: 4.40 Max Profit: $60 ROC: 13.6%

NaughtyPines NaughtyPines GSAT, D, 5 months ago
GSAT: OPENING: GSAT COVERED CALL
50 0 1
GSAT, D
OPENING: GSAT COVERED CALL

Okay, okay, okay ... . It is likely that this company is a ginormous turd pile, but the implied volatility in it is high, so I'm pulling the trigger here on it as a small speculative trade. Metrics: Bought 100 Shares at 1.61 Sold Oct 21st 2 call Whole Package: 1.37 db Max Profit: $63 ROC: 46%

NaughtyPines NaughtyPines ZIOP, D, 6 months ago
ZIOP: OPENING: ZIOP COVERED CALL
29 0 1
ZIOP, D
OPENING: ZIOP COVERED CALL

In and out of this little fella last month, back into it this, as implied volatility in the underlying remains high, and I don't have to do all that much due diligence, since I already know what's in the pipeline, etc. Metrics: Bought Shares at 5.27 Sold Oct 21st 6 call Whole Package: 4.82 db Max Profit: $118 (if called away at 6)

NaughtyPines NaughtyPines LC, 120, 6 months ago
LC: TRADE IDEA: LC COVERED CALL
21 0 2
LC, 120
TRADE IDEA: LC COVERED CALL

Metrics: Buy 100 shares at 5.41 Sell Oct 21st 5.5 call Whole Package: 4.93 db (4.93/share's your break even/cost basis) Max Profit: $57 (if called away at 5.5) ROC: 11.6% Notes: I've looked at this underlying several times over the past several weeks, as it keeps popping up on my high implied volatility screens. The good thing about the setup: the short call ...

NaughtyPines NaughtyPines GNW, D, 6 months ago
GNW: TRADE IDEA: GNW COVERED CALL
13 0 1
GNW, D
TRADE IDEA: GNW COVERED CALL

Metrics: Buy Shares at 4.62 Sell Oct 21st 5 call Whole Package: 4.36 Max Profit: $64 (if called away at 5) ROC: 14.7% Notes: The ROC metrics are good here; the chart is not. The underlying is at highs, so it might be beneficial to wait for a pullback to initiate a play. By the same token, there is room to the upside (albeit small to next ZigZag indicated ...

NaughtyPines NaughtyPines CDE, 240, 6 months ago
CDE: TRADE IDEA: CDE COVERED CALL/NAKED SHORT PUT
18 0 1
CDE, 240
TRADE IDEA: CDE COVERED CALL/NAKED SHORT PUT

Covered Call Metrics: Buy 100 shares stock at 13.68 Sell Oct 21st 14 call Whole Package: 12.36 db Max Profit: $164 (if called away at $14) ROC: 13.3% Alternative: Sell Oct 21st 12 put Probability of Profit: 71% Max Profit: $70 (if filled at the mid price) Max Loss: $1140 (if you do nothing and stock goes to $0 by expiration) Notes: The short put play would be ...

NaughtyPines NaughtyPines RIGL, D, 6 months ago
RIGL: HIGH IMPLIED VOLATILITY OPTIONS (8/28)
217 0 2
RIGL, D
HIGH IMPLIED VOLATILITY OPTIONS (8/28)

One of the first things I do when searching for either covered calls to do or just general premium selling plays is to look for high implied volatility underlyings with relatively decent expirations, strike widths, and fairly tight spreads (i.e., having weeklies is best with $1 wide strike widths and a bid/ask that is no more than .15 wide from top to bottom is ...

NaughtyPines NaughtyPines HL, D, 6 months ago
HL: OPENING: HL COVERED CALL
42 0 1
HL, D
OPENING: HL COVERED CALL

This is a little gold miner than came up on my high implied volatility screeners (the others were AUY and KGC). Metrics: Bought Shares at 5.82 Sold Oct 21st 6 call Whole Package: 5.35 db Max Profit: $61 ROC: 12.1%

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