optionsstrategy

NaughtyPines NaughtyPines VIX, D, 2 days ago
VIX: WEEK OF 12/5: WHAT I'M LOOKING AT: XBI AND EWZ
22 0 5
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, 11 days ago
VIX: VIX: FOR THE NEXT POP, LADDERED SHORT CALL VERTS
37 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 NUGT, D, Long , 22 days ago
NUGT: NUGT -- SHARES OR SHORT PUTS?
62 0 1
NUGT, D Long
NUGT -- SHARES OR SHORT PUTS?
As a general rule, I don't like to hold shares in many underlyings, largely because it isn't that capital efficient as compared to making a similar play using options. With NUGT, however, I might make an exception, but, as always, like to compare and contrast. Buying Shares Advantages: 1. If I want to, I can ...
NaughtyPines NaughtyPines IYR, W, a month ago
IYR: OPENING: IYR DEC 23RD 68/75/75/80 IRON FLY
13 0 6
IYR, W
OPENING: IYR DEC 23RD 68/75/75/80 IRON FLY
I had intended to put on a similar setup last week, but got distracted by something else ... . Implied volatility rank remains high here, even though IYR's background implied volatility isn't that great. Metrics: Probability of Profit: 44% Max Profit: $343/contract Max Loss/Buying Power Effect: ...
NaughtyPines NaughtyPines AG, D, 2 months ago
AG: OPENING: AG COVERED CALL
72 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 ...
NaughtyPines NaughtyPines XLU, D, 17 days ago
XLU: ROLLING: XLU DEC 2ND 45/48.5 SHORT PUT VERT TO DEC 23RD
3 0 1
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 ...
NaughtyPines NaughtyPines ANF, D, Long , 20 days ago
ANF: EARNINGS PLAY: ANF NOV 25TH 14.5 SHORT PUT
15 0 1
ANF, D Long
EARNINGS PLAY: ANF NOV 25TH 14.5 SHORT PUT
Putting this on a touch early ... . High implied volatility rank/high implied volatility in advance of earnings. I'm looking for a volatility crush after earnings announcement and, of course, bullish or sideways movement ... . Metrics: Probability of Profit: 74% Max Profit: $48/contract Max Loss/Buying Power ...
NaughtyPines NaughtyPines XLU, D, 20 days ago
XLU: OPENING: XLU DEC 30TH 42.5/46.5/46.5/49.5 IRON FLY
12 0 4
XLU, D
OPENING: XLU DEC 30TH 42.5/46.5/46.5/49.5 IRON FLY
Adding to my core exchange traded fund fly positions here with this high implied volatility rank underlying. (I already have some XLU on, so just adding a "smidgeon" here). The implied volatilty in this isn't great, but then it's almost never "great" ... . Metrics: Probability of Profit: 46% Max Profit: ...
NaughtyPines NaughtyPines SVXY, D, Long , a month ago
SVXY: SHORT VOLATILITY RELOAD: SVXY DEC 16TH 62/65 SHORT PUT VERTICAL
24 0 4
SVXY, D Long
SHORT VOLATILITY RELOAD: SVXY DEC 16TH 62/65 SHORT PUT VERTICAL
Using the Bollinger bands as a guide, I'm looking to reload a short volatility play should I be able to get a fill for the right price ... . Here, I'm looking for the basic 1/3rd the width of the spread for a fill price (i.e., 1/3rd of 3 = 1 or $100). I'm setting it up as a GTC order that will expire some time ...
NaughtyPines NaughtyPines IWM, D, a month ago
IWM: OPENING: IWM DEC 16TH 103/106/121/124 IRON CONDOR
28 0 2
IWM, D
OPENING: IWM DEC 16TH 103/106/121/124 IRON CONDOR
With VIX still "up there," I'm putting on a bit more premium selling setups in broad market instruments. Metrics: Probability of Profit: 61% Max Profit: $104/contract Max Loss/Buying Power Effect: $201 Break Evens: 105.01/121.99 Notes: I'll look to manage this at 50% max profit. I would also note that this is ...
NaughtyPines NaughtyPines IWM, D, a month ago
IWM: OPENING: IWM DEC 9TH 108/111/123.5/126.5 IRON CONDOR
70 4 7
IWM, D
OPENING: IWM DEC 9TH 108/111/123.5/126.5 IRON CONDOR
I slapped this one on rather hastily on Friday with the FBI "reopening-Clinton-email-investigation" volatility pop we had on Friday. Unfortunately, I didn't get what I usually look for in these setups -- a credit of at least 1/3rd the width of the wings (I got it filled for .89 ($89) per contract), but could have ...
NaughtyPines NaughtyPines SVXY, D, Long , a month ago
SVXY: OPENING: SVXY NOV 25TH 72/74 SHORT PUT VERTICAL
58 0 2
SVXY, D Long
OPENING: SVXY NOV 25TH 72/74 SHORT PUT VERTICAL
I did this one on Friday on the volatility pop we had, but didn't get a chance to post ... . I got it filled for an $87/contract credit, but could have done better were I to have had time to do some price discovery. SVXY isn't the most liquid thing in the world, so it pays to be patient and fiddle with getting a ...
NaughtyPines NaughtyPines TWTR, D, a month ago
TWTR: OPENING: TWTR NOV 11TH 14/18/18/22 IRON FLY (EARNINGS PLAY)
48 2 0
TWTR, D
OPENING: TWTR NOV 11TH 14/18/18/22 IRON FLY (EARNINGS PLAY)
Playing TWTR earnings for volatility contraction here ... . The metrics: Probability of Profit: 47% Max Profit: $217/contract Max Loss/Buying Power Effect: $183/contract Break Evens: 15.83/20.17 Notes: As with a short straddle, I'll look to manage this at 25% max profit. I'm putting this on a touch early so ...
NaughtyPines NaughtyPines EWW, D, 2 months ago
EWW: TRADE IDEA: EWW DEC 2ND 43.5/46.5/53.5/56.5 IRON CONDOR
22 0 0
EWW, D
TRADE IDEA: EWW DEC 2ND 43.5/46.5/53.5/56.5 IRON CONDOR
With a 52-week implied volatility rank of 100 and an implied volatility of 35, EWW -- the Mexican ETF, beckons for premium selling ... . Here, the iron condor brackets the ZigZag/Donchian channel indicated support/resistance at 48.22 and 54.25 nicely, with break evens for the setup above and below those ...
NaughtyPines NaughtyPines VRX, 240, 2 months ago
VRX: TRADE IDEA: VRX NOV 18TH 17.5 SHORT PUT
45 0 2
VRX, 240
TRADE IDEA: VRX NOV 18TH 17.5 SHORT PUT
Okay, so there's other "big pharma" that I like wayyy better than Valeant (e.g., BMY, GILD). The problem is that BMY and GILD are more expensive and don't have the implied volatility that VRX has (for obvious reasons: they don't have as many "warts" as VRX). Nevertheless, I'm watching VRX here because its implied ...
NaughtyPines NaughtyPines IBM, D, 2 months ago
IBM: THE WEEK OF 10/16: WHAT I'M LOOKING AT
23 0 2
IBM, D
THE WEEK OF 10/16: WHAT I'M LOOKING AT
While I grind away on various covered call positions (I only have one covered call with an October short call on; the rest are in November or December), I'm looking ahead to some decent earnings for premium selling. Generally, I'm looking for underlyings whose implied volatility is above the 70th percentile for ...
NaughtyPines NaughtyPines VIX, D, 2 months ago
VIX: BACK TO WAITING FOR BROAD MARKET VOLATILITY ...
70 2 5
VIX, D
BACK TO WAITING FOR BROAD MARKET VOLATILITY ...
BROAD MARKET INSTRUMENT PREMIUM SELLING Post-Brexit vote in late June, when VIX spiked to >25 (signalling a premium selling opportunity in broad market instruments like SPY/SPX and RUT/IWM in the July expiry), there has been but one >15 spike to >20 in mid-September that allowed for some premium selling in the ...
NaughtyPines NaughtyPines XLU, W, 2 months ago
XLU: TRADE IDEA: XLU NOV 18TH 42/47/47/52 IRON "FLY"
20 3 4
XLU, W
TRADE IDEA: XLU NOV 18TH 42/47/47/52 IRON "FLY"
I haven't done many of these in the past, but I'm beginning to warm up to them, particular with instruments that wouldn't ordinarily yield jack diddly squat with a traditional iron condor setup. Here's how this iron fly compares to an iron condor with similar break evens (it would be a Nov 18th ...
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