Sold 5 VXX Apr OTM calls.
Sold 5 VXX weekly ATM calls. Hope this one gets assigned tomorrow.
Shorted 3K VXX shares to give away if VXX weekly ITM puts sold are assigned. If they are not assigned, I may sell next week VXX ITM puts again to give them away.
What was I thinking selling ITM puts against VXX share short that will become long term gain in a couple of month. I will have to pay $1.65 more tax per pre-split share (which is $6.60 more per current share, holy cow this just shows how much tax we pay) if they are taken away.
So I have to protect these VXX shares short at all cost, close to...
Wanted to sell more VXX but waiting for what tomorrow would bring..
FFIV: Closed short 6 sets.
HD: Closed short 1 set.
Wish I could close some more market shorts today. I guess I'm getting greedy, waiting...
FDX: Sold 5 Mar OTM calls.
UNG is coming down but slowly. More of later month futures are becoming contango compared to the front month future. If front month future goes down a bit further, I think all month futures will be in contango compare to the front month.
Very good day, I have 127 options sold and 100 options bought and all of them are green, a rare day indeed.
Account good plus. Worried in the morning due to market gap up. I guess this is how they fool people and make people hold the bags for them.
Year 2013 was very difficult year for the first half due to the mess I created towards end of 2012, but turned out to be a fantastic year in the end beating S&P. VXX shorts and USO shorts helped turn the tide in my account last year.
I've been waiting for 10% market correction for a very long time, much more than a year. I'm very lucky that I'm not broke shorting market all these years. 10% correction would give me substantial gain from market shorts. I keep telling myself not to turn to market buyer from market seller when market turns finally.
As for VXX, double from now ($11 pre-split) would be VXX price of last summer, and most of my current VXX shorts are from last summer, meaning VXX double will put VXX price about the same as my VXX short cost basis. I try to refrain from adding more VXX shorts these days but I get a feeling that I may be on the wrong side. One day I'm convinced I'm doing the right thing but the next day I'm not sure about the correction. Good luck trading.
Sold 5 VXX next week OTM calls.
Sold 10 VXX weekly ATM calls.
TRIP: Sold 5 Mar OTM calls.
OUTR: Closed short 1.5 set. Didn't mean to close but I forgot to cancel GTC close order I put in long time back.
Rolled 15 UNG calls sold to Apr first week again after assignment.
Closed 900 UNG shares short. Hoping to sell again at higher price.
Account a little bit plus. Don't like when marget gives and takes it all back. VXX is not as strong as it's been.
Splitting hairs reviewing last year's trade record for tax report. Don't need to review one by one but want to make sure I keep proper record of open positions and cost basis since 1099 from broker does have problems. So many VXX trades last year. VXX is truly a gift.
Sold 10 VXX Mar-end OTM puts against VXX share short.
Sold 5 VXX Mar-end OTM calls.
Seems I went too far with selling VXX ITM puts against VXX share short. I may lose VXX shares short that's approaching anniversary making it long term gain, if VXX collapses. Hoping it doesn't happen, and worst case I will have to short more VXX shares to give up on put assignment.
Ratio of VXX short against market short stays very low in my account compared to other times. So, I need to short more VXX but memory of last VXX spike to $55 is making me cautious. Plan to just sells calls while VXX is under $46.
Rolled 24 UNG calls sold, after assignment.
It's Spring but UNG is supported at $25. It doesn't spike and doesn't go down either, just boring. Maybe some action after THU inventory report.
Account good plus. S&P went below 5 day MA. Hope it stays there for more than a day this time.
Sold 20 VXX weekly ITM puts against VXX share short.
Sold 10 VXX Mar ITM puts against VXX share short.
Maybe I'm on the wrong side again but I want to lighten up VXX shares short, or hedge a bit with ITM puts sold if VXX doesn't come down.
Rolled 9 UNG deep ITM calls sold to Mar-end after assignment. Hate assignment right after weekly roll.
Sold 5 UNG Mar-end deep ITM calls.
TRIP: Shorted 1 set.
Several market shorts were weak today and holding of position closure for a bit.
Balance a little bit plus. No position closure and no daily cut for today. Market just won't go down and VXX also won't go down.
Sold 6 VXX next week OTM puts against VXX short.
Sold 5 VXX next week OTM calls.
10 VXX calls sold expired worthless.
10 VXX puts sold expired worthless.
ATHN: Closed short 4.5 sets.
OUTR: Closed short 2.5 sets.
DPZ: Shorted 2 sets.
DTV: Sold 5 Mar OTM calls.
Rolled 9 UNG deep ITM calls sold to next week.
Account some plus. Difficult week but account was holding up well. S&P flat but VXX is up $1, feel like something's brewing.
Sold 10 VXX weekly OTM puts against VXX shares short.
OUTR: Closed short 2 sets.
UAL: Shorted 2.5 sets.
UNG is getting boring. It seems major speculators who caused volatility past a couple of month left UNG. Still hoping for one last spike before spring. Would be happy if it comes.
Earned my daily cut today both for VXX and non-VXX. I cannot ask for more.
Account little changed. Market made fresh ATH 4 out of past 5 trading days, was up 6 out of past 7 days, or 13 out of past 17 days. Truly amazing. With each additional ATH and up day, potential for down day increases. Just one decent down day, that's all I need now.
Sold 10 VXX Mar OTM puts agains VXX share short.
I swore that I would never sell VXX puts against my VXX short losing VXX short shares. But, I wanted to make use of VXX share shorts while VXX is not going down. Even if it goes down to the put strike, it would be closing at a good price. I would like to make certain amount with VXX each day. Looking into VXX call/put sales for steady return (just small amount) while VXX moves sidelines.
ATHN: Closed short 6 sets. Nice and Lucky.
FB: Shorted 2 set.
FFIV: Shorted 2.5 sets.
OUTR: Shorted 2 sets.
Account little changed. Hoping for some market dip but VXX was getting weaker towards market close today.
Closed 2 sets of VXX share short.
TRIP: Shorted 3 sets.
ATHN: Shorted 9 sets.
OUTR: Shorted 1.5 sets.
FFIV: Shorted 1.5 set.
Sold 10 UNG Mar-end deep ITM calls.
Account some minus. VXX is still relatively strong given another ATH today. It turned out again as one-day dip. People won't allow market going down sizeable amount more than one day, buying every dip. What a market. Some market correction on its way up would be healthy for VXX short too as opposed to up without correction and then crash which may send VXX sky high. So, I'm getting worried about holding core VXX short position for long...
ronbo, Well, I'm just getting started with rebuilding short-term VXX short position.
My belief is that possibility of war is minimal. Even if war breaks out, it won't have too much impact to US, except maybe on oil. I mean it's not WW III. I am treating Ukraine event similar to Syrian event last summer or less. I don't think it will have impact similar to Greek financial crisis. Media makes it so dramatic, but I believe cooler heads will prevail.
I believe in "Nobody knows where the market is going". So, I short VXX when it's flying and also maintain much more market short. Maybe you didn't notice all the other market shorts I've been doing while market climbing up. I would be happy if VXX spikes to a managable level rather quickly than slowly. I'm in a much better position to take advantage of it, than during the last VXX spike.
Shorted 2 sets of VXX shares.
Sold 10 VXX weekly ATM calls.
FFIV: Closed short 1 set, Shorted 1 set.
TRIP: Shorted 2 set.
ATHN: Shorted 1.5 set.
Closed 1.5K UNG share short, assigned from calls sold but no short shares available. Hoping that I can sell at higher price later.
USO came back up to level where I can consider selling calls. But, holding off as lower-demand winter is winding down. If it spikes further due to Ukraine, will start shorting some.
Account a little bit plus. Hope this is not a one-day dip like many other times, but doesn't look like Ukraine is a good excuse to press down the market for long.
I'm not saying I am trading with 600K. One can short 600K worth of stock with 200K in margin account, if not leveraged ETFs.
I'm saying I would be happy if I can make average 0.1% per day of my net, or 0.03% per day of gross, NOT that I'm making it now, but I am trying very hard... Would be happer if I can do 0.2% per day of my net, or 0.06% per day of gross. Wish me luck...
con_law_misery, People may laugh at me but how about 600K gross for 400 per day? I would be so very happy if I can find a way to do it without much fluctuation.
600K gross is 200K on margin barring leveraged ETFs. I don't recommend newbies to trade on margin. But, short sellers and call sellers are, by nature, on margin.
In fact, even 600K gross for 200 per day consistently would be more than enough. Then, I just have to raise my capital for larger gain. I wish I could celebrate sometime this year that I found a way to generate certain average daily gain consistenly without much fluctuation... Good Luck Trading.
lf, I still hold some ATHN short. I traded ATHN after Feb earning based on analysis of price movement after Jul and Oct earnings. But, this time its after-earning up move was much larger than Jul/Oct. I plan to play with ATHN until next earning as part of my short term trading experiment assuming it repeats its move past 2 quarters.
I noticed momo stocks fade on Friday, too. Maybe they will slow down a bit if not giving up some gain.
I keep thinking that travel stock short must be a good play for this quater based on bad weather, but nobody seems to think that way as they are so strong. Maybe, people forget about the business itself when the market is going up, just like airline stocks staying strong through all those flight cancellations.
Good Luck Trading.
nomoredns, it's not polite to call what someone else is doing nonsense.
I believe in "Nobody knows where the market is going, let alone when VXX spike is coming", and I try to trade accordingly.
Instead of going long and waiting for VXX spike which may or may not come soon I would rather wait for the spike and then go short. I tried to play both the sides for the VXX last year selling XIV/SVXY waiting for VXX spike but didn't work out better than just VXX short.
I don't chase near term OTM options long for double or triple. I've been there and done that enough, and I learned that it's not for me. I'm happier if I can make just average 400 bucks per day consistently with limited capital. That's what I am after.
One thing I learned after making decent (in my standard) amount of money with trade, after all the hard lessens and tuition fee I paid to the market, it's all the more important not to lose hard-earned after-tax money and better play safer. But that's just me. Good luck trading.
HD: Shorted 1 set.
FFIV: Closed short 1 set, Shorted 1 set.
TRIP: Shorted 1 set, Closed short 1 set.
KORS: Closed short 1 set.
ATHN: Closed short 2 sets.
QIHU: Closed short 1 set.
13 UNG deep ITM calls sold assigned, no short shares available, so had to cover and sell deep ITM calls again 2 weeks down. Hate doing this.
4 UNG deep ITM calls sold assigned. Most likely have to cover and sell deep ITM calls Monday unless short share becomes available again.
Account some plus. Did I see short-term top now? Or more ATH to come next week? Waiting for another VXX spike but patience running out.
Closed 3.5 sets of GMCR share short.
Shorted 1 set of DPZ shares.
Shorted 1 set of QIHU shares.
Shorted 1 set of KORS shares.
Shorted 1 set of FFIV shares.
Closed 2K DECK share short after earnings after-hours. Thankfully, DECK went down on earnings beat, maybe due to soft Q1 guidance. I was very much worried when DECK shares were halted as I was burned several times after share halt on earnings.
Account good plus thanks to DECK.
2/25/14 No trade.
Closed 2.4K UNG share short, some of which assigned from deep ITM calls sold. Missed chance premarket but thankfully it came down again mid-day.
Closed 1 set of GMCR share short.
Very pleased with NG Mar future expiration action. 20+% backwardation shrank to 5% while both of them went down much. NG futures contango in sight. UNG may pop here but not much of risk unless wide backwardation happens again between Apr and May futures.
Account a little bit plus.
Hoping for one more UNG pop as it gets a bit colder, then I'll add to my short, UNG share short, July puts long, and then maybe DGAZ long.
It seems market just can't go down any more, keep pushing up even after-hours. Today's market action was disappointing. VXX is holding up so far but it's been some time now so I'm not sure how much longer. Good Luck Trading.
I am not a fan of leveraged ETFs, especially long, due to volatility decay. I think those are for folks who can time entry and exit very well, which I am not.
However, I was considering to get into DGAZ a bit if UNG shoots up higher, say close to $30, which may not happen now.