Saturday, August 26, 2017

Weekly: flat footed rally

The big rally on Tuesday caught me flat footed. I got whipsawed on Monday on some SPY puts. However, despite those minor mishaps, the week was profitable. Profits are good. Spent a lot of time managing BRKB, IWM, NVDA, TSLA positions. Added a new long in XME, sold new strangles in BABA, CMG. Thankfully the rally didn't roar ahead, otherwise I would have been hit on both ends.

Here are the trades (p = puts, c = calls, sell means sell-to-open, number near end is price per contract, cover means buy-to-close):

Mon Cover SPY AugW4 242.5 p 136 for a 400% loss
Sell TSLA AugW4 262.5 c 28
Sell NVDA SepW2 175 c 73

Roll IWM: Cover IWM Sep 146 c 01 for 90% gain
Sell IWM Sep 142 c 15

Sell SPY AugW4 237 p 13
Sell TSLA SepW1 372.5 c 49
Sell SPY SepW1 234 p 24

Tue Big time market rally catches me flat footed. I add long delta via selling puts

Sell SPY SepW2 236 p 35
Sell BRKB Oct 165 p 52

Cover TSLA AugW4 385 c 02 for 94% profit

Roll BRKB for 167 credit: Cover BRKB Sep 180 c for 225% loss
Sell BRKB Oct 180 c 349

Sell IWM SepW1 131 p 19
Sell SPY Sep 235 p 54
Sell QQQ SepW1 138 p 17

Sell BRKB Sep 175 p 52
Sell TSLA SepW1 300 p 47

Wed Sell NVDA SepW2 148 p 55

Sell BABA strangle 64: Sell BABA Sep 152.5 p
Sell BABA Sep 195 c

Sell CMG strangle 120: Sell CMG Sep 250 p
Sell CMG Sep 340 c

Sell TSLA Sep 310 p 162

Thu Sell SPG Oct 140 p 74
Sell XME Oct 27 p 21

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