optionsstrategies

NaughtyPines NaughtyPines NFLX, D, a day ago
NFLX: OPENING: NFLX JAN 27TH 111/116/150/155 IRON CONDOR
45 0 3
NFLX, D
OPENING: NFLX JAN 27TH 111/116/150/155 IRON CONDOR
.... for a 1.21 credit. Here are the metrics for the setup: POP%: 69% Max Profit: $121/contract Max Loss/Buying Power Effect: $379/contract BE's: 114.80/151.20 Notes: NFLX announces earnings tomorrow after market close, so I would usually put a setup on "the day of." However, I don't want to space it out, so ...
NaughtyPines NaughtyPines VIX, D, 2 days ago
VIX: OPENING: VIX APRIL 17TH 17/20 SHORT CALL VERTICAL
17 0 3
VIX, D
OPENING: VIX APRIL 17TH 17/20 SHORT CALL VERTICAL
Another "Term Structure" trade, this time in the April expiry. (I currently have one of these on in March -- a 16/19 short call vert). Here, the /VX futures contract in April is currently trading at 17.10 or so, so I'm using that price as a guide for my short call strike. Looking for a fill at .75-ish ... .
NaughtyPines NaughtyPines VIX, D, 3 days ago
VIX: THE WEEK AHEAD: SLIM PICKINGS FOR THE PREMIUM SELLER
58 0 6
VIX, D
THE WEEK AHEAD: SLIM PICKINGS FOR THE PREMIUM SELLER
With VIX at sub-12 levels, broad market implied volatility is low here, and a basic screen run for high implied volatility rank/high implied volatility yields few high quality results. Here's what I'm looking at ... . SPY et al (Broad Market) The first expiry with greater than 15% implied volatility for SPY is ...
NaughtyPines NaughtyPines VIX, D, 6 days ago
VIX: OPENING: VIX MARCH 22ND 16/19 SHORT CALL VERT
39 0 4
VIX, D
OPENING: VIX MARCH 22ND 16/19 SHORT CALL VERT
This is another one of them there "Term Structure" trades which use the VIX futures as a guide for the short call strike. Here, I'm using /VXH7, which is the March VIX futures contract, which is currently trading at 15.72, so I'm using the 16 short call in VIX. ... Filled for a .71 credit. Notes: This is a ...
NaughtyPines NaughtyPines GDXJ, D, 11 days ago
GDXJ: TRADE IDEA/EXAMPLE: A 20/10 DELTA "DYNAMIC" IRON CONDOR
29 0 7
GDXJ, D
TRADE IDEA/EXAMPLE: A 20/10 DELTA "DYNAMIC" IRON CONDOR
A creature of habit, I always sell the 20 delta when selling naked puts or setting up strangles/iron condors. Some traders like selling the 16's; some, the 30's; so I'm kind of "in between" ... . Here, I show an example of a setup where I'm selling the 20 delta call (at whatever strike it lies), the 20 delta put ...
NaughtyPines NaughtyPines UVXY, 180, Short , 13 days ago
UVXY: TRADE IDEA: UVXY (POST SPLIT) FEB 17TH SHORT CALL VERTICAL
103 0 4
UVXY, 180 Short
TRADE IDEA: UVXY (POST SPLIT) FEB 17TH SHORT CALL VERTICAL
I'm doing a little planning ahead here for the UVXY 5-1 reverse split, currently scheduled to occur on Jan 12th. Truth be told, UVXY is not one of my favorite VIX derivatives to play, largely due to options liquidity, which leads to wide bid/asks that you have to putz with in order to get filled for something ...
NaughtyPines NaughtyPines GDX, D, 13 days ago
GDX: TRADE IDEA: GDX JUNE 16TH 18/FEB 17TH 25.5 POOR MAN'S ...
69 0 6
GDX, D
TRADE IDEA: GDX JUNE 16TH 18/FEB 17TH 25.5 POOR MAN'S ...
I'm not going to take this trade at the moment, because I'm trying to wind up current trades to move over to TastyWorks (formerly Dough). However, once I finish up that process, this is one of the trades I'm looking at, although certainly putting this on here isn't necessarily the best in terms of timing, since ...
NaughtyPines NaughtyPines NVDA, D, 22 days ago
NVDA: OPENING: NVDA JAN 20TH 96/101/130/135 IRON CONDOR
99 0 9
NVDA, D
OPENING: NVDA JAN 20TH 96/101/130/135 IRON CONDOR
... for a 1.09 credit. (High IVR/High IV). Metrics: Probability of Profit: 68% Max Profit: $109/contract Max Loss: $392/contract Notes: Will look to manage at 50% max.
NaughtyPines NaughtyPines XBI, D, 22 days ago
XBI: OPENING: XBI FEB 15TH 53/62/62/71 IRON FLY
38 0 7
XBI, D
OPENING: XBI FEB 15TH 53/62/62/71 IRON FLY
... for a 5.29 credit. IVR isn't as high as I'd like it (>70% over the preceding six months), but I'll take it ... . Metrics: Max Profit: $529 Max Loss: $371/contract Break Evens: 56.61/67.29 Notes: As will all flies, will look to take profit at 25% max.
NaughtyPines NaughtyPines VIX, D, Short , 23 days ago
VIX: VIX TERM STRUCTURE TRADE: VIX FEB 15TH 16/19 SHORT CALL VERT
67 5 9
VIX, D Short
VIX TERM STRUCTURE TRADE: VIX FEB 15TH 16/19 SHORT CALL VERT
The two types of trades I like in VIX/VIX derivatives are (1) a "Term Structure" trade in VIX options; and (2) "Contango Drift" trades in the derivatives VXX, UVXY, and (inversely) SVXY. A "term structure" trade capitalizes on current VIX spot price in relation to VIX futures months' prices which, the vast ...
NaughtyPines NaughtyPines SPY, D, a month ago
SPY: OPENING: SPY MARCH 17TH 205/208/234/237 IRON CONDOR
59 0 4
SPY, D
OPENING: SPY MARCH 17TH 205/208/234/237 IRON CONDOR
I used to do a lot of SPY, IWM, QQQ, and DIA iron condors as a core position, but temporarily wandered away from those given how sporadic the implied volatility has been in these underlyings. Additionally, they have nonexistent "engagement value" (i.e., they're boring), and I haven't been able to get decent premium ...
NaughtyPines NaughtyPines FXI, D, a month ago
FXI: OPENING: FXI JAN 27TH 32.5/35.5/35.5/38 IRON FLY
12 0 6
FXI, D
OPENING: FXI JAN 27TH 32.5/35.5/35.5/38 IRON FLY
Out of a Brazil play and into a China play ... . Metrics: Max Profit: $153/contract Max Loss: $147/contract Break Evens: 33.97/37.03 Notes: Will look to manage this at 25% max.
NaughtyPines NaughtyPines LULU, D, a month ago
LULU: OPTION TIP: IRON FLY INTRATRADE DEFENSE
33 0 8
LULU, D
OPTION TIP: IRON FLY INTRATRADE DEFENSE
Posted here is a live trade example of a LULU iron fly. I started this out as an earnings trade iron condor, looking for classic volatility contraction post-announcement. I got the contraction I wanted, but not the movement, as price immediately broke the short call side of my setup, after which I rolled to an ...
NaughtyPines NaughtyPines XBI, D, a month ago
XBI: OPENING: XBI JAN 20TH 51.67/61/61/70 IRON FLY
23 1 4
XBI, D
OPENING: XBI JAN 20TH 51.67/61/61/70 IRON FLY
There isn't much premium out there to be sold in index or sector exchange traded funds, but this is one of them ... . Metrics: Probability of Profit: 46% Max Profit: $518/contract Max Loss: $415/contract Break Evens: 55.82/66.18 Notes: I'll shoot to take profit at 25% of max ... .
NaughtyPines NaughtyPines VXX, D, a month ago
VXX: SHORT VIX DERIVATIVE PLAYS: GIVE THEM TIME TO WORK OUT
108 0 2
VXX, D
SHORT VIX DERIVATIVE PLAYS: GIVE THEM TIME TO WORK OUT
An interesting article on shorting the VIX and VIX derivatives: http://www.marketwatch.com/story/bew...ick-2015-09-11 In a nutshell, backwardation occurs (which only applies to VIX derivatives, not to the VIX itself) and this can "derail" a short VIX derivative play that is not given enough time to play out and ...
NaughtyPines NaughtyPines VIX, D, 2 months ago
VIX: WEEK OF 12/5: WHAT I'M LOOKING AT: XBI AND EWZ
25 0 6
VIX, D
WEEK OF 12/5: WHAT I'M LOOKING AT: XBI AND EWZ
With the VIX still hovering in sub-15 territory and an examination of broad index exchange-traded funds therefore yielding less premium than I would like,* I'm turning my attention to sector exchange traded funds for possible premium selling plays. Naturally, VIX levels could change in light of the outcome of the ...
NaughtyPines NaughtyPines VIX, D, 2 months ago
VIX: VIX: FOR THE NEXT POP, LADDERED SHORT CALL VERTS
42 0 3
VIX, D
VIX: FOR THE NEXT POP, LADDERED SHORT CALL VERTS
The last VIX pop around elections, I chose to piddle with an SVXY ATM short put credit spread (see post below). It worked out great, but SVXY isn't the most liquid thing in the world (I knew that going in). In comparison, VIX options are about the cleanest short volatility setup you can get, although a small ...
NaughtyPines NaughtyPines XLU, D, 2 months ago
XLU: ROLLING: XLU DEC 2ND 45/48.5 SHORT PUT VERT TO DEC 23RD
11 0 3
XLU, D
ROLLING: XLU DEC 2ND 45/48.5 SHORT PUT VERT TO DEC 23RD
After I pulled off the short call of the Dec 2nd iron fly at near worthless today, I rolled the short put side out to the Dec 23rd expiry to give it a little more time to work out, as well to be able to work the call side of the setup effectively. (I have a setup in the Dec 30th expiry already, so didn't want to ...
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