Weekly: Profits at Tiffany’s

Another positive week for me. TIF gaps higher on earnings. I sell puts. I added longs in oil producers, only to see oil tumble on Friday.

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

Mon Rally day on easing trade tensions. Markets up but off their highs.
Sell AMZN Jul 1350 p 600

Sell SPY Jun29 255 p 74
Sell BA Jun 325 p 104

Sell SHAK 52.5 p 26 new long
Sell IWM Jul 148 p 64

Sell TSLA Jun1 250 p 88
Sell BA Jul 310 p 161

Tue Sell BA Jul 415 c 78
Sell TSLA Jun1 315 c 35

Wed Tiffany’s and Lowes up on earnings.
Sell TIF Jul 105 p 56
Sell LOW Jun 85 p 20

Sell SPY Jun22 282 c 19
Sell WYNN Jul 165 p 96

Sell JPM Jun 100 p 16
Sell BRKB Jul 170 p 43

Sell NFLX Jun 305 p 114
Sell NVDA Jun 205 p 29

Sell BABA Jul 165 p 61
Sell TIF Jun 115 p 65 add

Thu North Korea peace talks on hold. Market falls then rallies off the lows.
Sell WFC Jul 47.5 p 19
Sell ULTA Jun 200 p 55

Sell CAT Jul 135 p 78
Sell SPY Jun29 282 c 20

Sell TSLA Jun8 230 p 84
Sell CMG Jun 395 p 90

Sell TGT Jul 60 p 21
Sell NFLX Jun22 315 p 172

Sell INTC Jun 50 p 14
Sell VLO Jul 100 p 29

Sell HFC Jul 60 p 30
Sell XOP Jul 35 p 18

Fri Sell QQQ Jun29 157 p 55
Sell SPY Jul 286 c 18

Sell SPY Jun 280 c 14
Sell SPY Jul6 254 p 78

Monthly: best so far 104-7, Grade A-

This is my best month of the year so far. Up about 3.4% for the month. I count 104 winners 7 losers, self grade A-. The losers include some whipsaw action in AAPL and BA.

Here are some etfs that I track:
IWM +6.2% Russell 2000 U.S. small cap
SPY +2.0% S&P 500 U.S. large cap

GLD -1.0% gold
EEM -2.2% emerging markets equity

SLV -3.2% silver
TLT -7.6% U.S. 20 year treasuries

My portfolio +6.2% year to date, so quite respectable. It is interesting that the two U.S. stock etfs are up for the year, the other four are now down.

I took on more risk in April and May and it paid off. In particular I sold strangles on AMZN. The high dollar value, translates into tail risk, on a market shaking move.

My directional trades haven’t been very good. The minor adjustment to rebalance with layers further out in time seems to be working. Before I was selling short term premium and sometimes getting whipsawed.

For now it is still a bull market. However, one troubling shift in sentiment on Reddit, is more posts about trading for a living, and novices encouraging other novices to jump in with limited capital. This is the kind of sentiment shift that occurs at market tops. I’m not predicting, but between that and some recent Etrade commercials about yachts and a wealthy lifestyle, are what we see at tops. There remains healthy skepticism, so it is isn’t all red lights. The recent eight straight up days, shows there is still money to come in.

Weekly: Flat is good

A flat week is good news for me. After last week’s scalding hot rally market, the eighth rally day comes on Monday, but then the market sputters. I add more oil producer longs, but still a small position. Many of my AMZN positions expire for 100% gains. I still have the first position, a Jun 1350/1400/1450 put butterfly. That original trade is down a bit, is near delta neutral, defined risk.

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

Mon Eight rally days in a row. I close out another leg for a big loss.
Cover QQQ May 170 c 128 for big loss

Sell WYNN Jun 170 p 70
Sell SPY Jun 258 p 68

Sell CAT Jun 135 p 40
Sell HFC Jun 60 p 30 new long in Holly Frontier Corp

Sell VLO Jun 105 p 56
Sell UNH Jun 210 p 32

Sell NVDA May25 235 p 54
Sell NFLX Jun 280 p 83

Sell SPY May 267 p 18
Sell TGT Jun 62.5 p 31

Tue First down day in a while.
Sell NVDA May25 277.5 c 17
Sell QQQ Jul 182 c 26

Sell SPY Jul 290 c 24
Sell SPY Jun1 280 c 17

Sell TSLA May25 327.5 c 34
Sell WYNN Jun 220 c 26

Wed Sell MU Jun 45 p 23
Sell SPG Jul 135 p 61

Sell SPY Jun8 259 p 48
Sell QQQ Jun22 155 p 58

Fri Sell BA Jul 290 p 108

Weekly: 7 up days in a row

Seven up days in the row are a bit too much heat. SPY up about 2% for the week. My account up about half that. I close out several sold calls for big losses. For this Goldilocks, the soup is a bit too hot. Profit is a profit, but more profit tends to be more better.

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

Mon Market opens higher, then gives up most of the gains. I take a loss on some sold AAPL calls.

Cover AAPL May 185 c 361 for big loss
Cover BA May 360 c for profit

Sell QQQ Jun8 153 p 61
Sell SPY Jun8 250 p 70

Sell FB May 167.5 p 40
Sell QQQ May 158 p 30

Sell AAPL Jul 165 p 100
Sell SPY Jun29 243 p 103

Sell BA May 320 p 140
Sell HES 52.5 p 37 new long

Sell IWM Jun 145 p 47

Tue Cover BA May 355 c 82 for break even profit
Sell TSLA MayW4 245 p 88

Wed Stock market rallies runs too hot. I take a loss on one leg of sold Boeing calls, and take profits on some sold QQQ calls.

Sell AAPL Jun 170 p 63
Sell FB Jun 165 p 73
Sell FB May 172.5 p 32

Sell LMT Jun 290 p 110
Sell QQQ Jun8 156 p 52

Sell SPY Jun8 255 p 64
Sell to close SPY Jun 250 p 68 for big loss

Cover BA May 345 c 505 for big loss
Cover QQQ May 172 c 26 for profit

Thu Market rally rolls on for sixth day in a row. The temperature continues to be too hot for me. I take big losses on sold calls on AAPL, FB, SPY. Three legs closed for huge losses. The bright side is that I eek out a gain for the day, despite being burned by the too hot market.

Sell SPY Jun1 259 p 51
Sell NFLX Jun1 297.5 155

Sell BABA Jun 170 p 44 new long
Sell SPY May25 262 p 39

Sell QQQ Jun 157 p 63
Sell AAPL Jun 175 p 93

Sell COST Jun 170 p 42 new long
Sell IWM JunW1 152.5 p 30

Sell SPY Jul 248 p 119
Sell QQQ Jul 150 p 86

Roll AAPL for huge debit: Cover AAPL Jun 190 c for big loss
Sell AAPL Jun 205 c 63

Cover FB May 185 c 237 for big loss
Cover SPY May 272 c 190 for big loss

Fri Sell NVDA May 230 p 23 earnings
Sell SPY Jun22 254 p 81

Weekly: The Big Buy Button

For the week, I eek out a small gain despite feeling out of synch most of the week. On Thursday, it is as if someone hit a massive buy button. The DJIA moves up about 800 points in less than two days. Highlights of the week include taking a loss on some some ULTA calls, discomfort in AAPL as it rallies, a quick hit profit shorting GILD, a big loss on a long call leg in BA.

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

Mon Market rally at the open fades. I get whipsawed on ULTA, covering for a loss only to see it reverse lower.

Sell BA May 360 c 83
Sell MCD May 150 p 18

Sell QQQ Jun 145 p 76
Sell SPY MayW2 275 p 40

Sell UNH Jun 210 p 74
Cover ULTA May 255 c 640 for big loss

Tue Sell in May? I lighten up a bit by selling calls.
Sell BA Jun 375 c 78
Sell BA May 355 c 86

Sell FB May 185 c 36
Sell LMT May 345 c 15

Sell QQQ May 170 c 15
Sell SPY May 272 c 36

Wed Apple earnings good. Gilead not good. I short GILD add AAPL longs

GILD vertical for 110 debit: Buy GILD Jun 65 p 152
Sell GILD Jun 60 p 42

Sell AAPL May 160 p 27
Sell AAPL Jun 155 p 58

Sell FB Jun 155 p 77
Sell DVN Jun 32 p 20 new long

Sell COST Jun 170 p 70
Sell AAPL May 165 p 39

Sell VLO Jun 97.5 p 43

Sell TSLA strangles: Sell TSLA May 195 p 50 50
Sell TSLA May 380 c 21

Sell-to-close BA Jun 350 c 298 for big loss

Cover SPY May 252 p 65 for profit
Cover SPY MayW2 252 p 32 for profit

Thu Whipsaw action as the market moves sharply lower then rebounds a bit.
Sell AAPL JunW1 160 p 48

Sell AAPL Jun 190 c 52

Sell BA Jun 290 p 233
Sell BA May 345 c 90 this leg doubles by the end of the day

Sell SPY MayW4 274 c 22
Sell TSLA May 340 c 20

Close GILD vertical 162 for profit Jun 65/60 put vertical
I take the money and run, 40% one day profit on this long premium trade

Cover BA Jun 375 c 74 for profit

Fri Apple up on news of Warren Buffett adding more shares. It gets uncomfortable.
Sell AAPL May 167.5 p 40
Sell AAPL Jun 165 p 94

Sell NFLX strangles 163: Sell NFLX Jun 370 c
Sell NFLX Jun 250 p

Sell QQQ Jun 148 p 68
Sell SPY MayW4 251 p 57

Sell BA MayW4 297.5 p 107

Add more legs as NFLX rallies: Sell NFLX May 275 p 33

Sell NFLX Jun1 280 p 121

Sell SPY Jun1 251 p 63

Sell QQQ Jun1 153 p 52

Sell TSLA May 240 p 93
Cover AAPL May 190 c 73 for break even loss