JP's options journal

jamespond said:
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The Jun14/Jun17 282/281 put was bought for a net credit of 0.47 (incl. comm. 0.457)
The Jun14/Jun17 282/283 put was bought for a net credit of 0.55 (incl. comm. 0.543)
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My first diagonal spread (live) test is coming to an end. The Jun14 puts expired worthless last Friday. SPY price was between 289-290 (see purple Arrow).
The Jun17 puts will expire (worthless) today.

The profit is $0.457 with a max risk of $0.543 (282/281 P)
and $0.543 with a max risk of $0.457 (283/282 P) (Just a coincidence that the numbers are mirrored.)

I tried to sell it for a few bucks instead of letting it expire worthless but that didn't work out too great. It's the difference between doing this live and how it should work according to the theoretical graph I guess.

I take note of the fact that this setup worked out ok here. But in strong trends just buying a simple call (put) would have been much more profitable. I'll try this again later in a more grinding trend - where it moves persistently (up) but at a slower pace.

No more new positions will be initiated until August (due to holiday plans)

JP
 
jamespond said:
Facebook (FB) - long Jun21'19 190 CALL @4.60 (stock price was ~186.76)

Not exactly a bargain right now. But... this signalled yesterday. Should have bought it yesterday near close but was unfortunately not able to at that time. Still looks like it has potential.

JP
More...

Sold this @5.60 (Sold at open ~194).
P/L on this position +21%

I'll post the charts on that below.

JP
 
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Continued from previous post...

This is a "raised from the dead" kind of situation. I had actually given up on this trade.
I had a limit order to sell this @ $5.30 but during the open it got executed @ $5.60. I was like:wtf:. Just got incredibly lucky. Let's just keep it at that.

Very poor management on this trade, together with PM. (PM will really become worthless in a couple of days)

I've been reading some interesting stuff from @jeffalvinson. Not about what he wrote in this thread but some other things about trade management that made sense to me.
So this got me thinking to use a stop on option trades anyway.

JP
 
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jamespond said:
Philip Morris (PM) - long Jun21'19 87.5 CALL @1.15 (stock price was ~85.34)

JP
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This was hanging around worthless in the ledger for several weeks. It's officially gone now. Full loss on that, a thing to avoid in the future.
My book is empty now.

See you back in august.

JP
 
Back somewhat later than expected. But nevertheless. Did some extra study'n'sim.
Trying to pick it up where I left off.

Bought WFC Oct18'19 49.5/48.5 Bull Put for a credit of -0.37
Stock price was ~49.45

Vertical (& diagonal) spreads were added to the arsenal. Together with the already used directional calls & puts.

JP
 
Long KO Nov15'19 55 Call @1.17 (stock price was ~54.38)

BIDU was on the long list but missed that yesterday, not going to run after it. Although still potential.

JP
 
Bought SPY Oct7'19 295 PUT. (SPY was ~296.30) @2.28

The S&P looks vulnerable here to me. I don't quite like the daily graph.
I don't plan to hold it for more than a couple of days. Will keep an eye on this with special attention to yesterdays lows, which is very close to 2940 (august ceiling). Seems an important level.

JP
 
jamespond said:
Bought SPY Oct7'19 295 PUT. (SPY was ~296.30) @2.28
More...

Sold again @2.65 (SPY was ~295.22)
P/L on this trade: +16%

It's probably a bit early to sell yet, but I'd rather not hold this through the weekend.
Meanwhile the weekly S&P graph has this ugly rollover down kinda look.

JP
 
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