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Rolled my DG put forward. Sold an AUG 14 strike 190 last week for $1.74. Just bought it back 7 days later for a dime. Sold a new 190 with an AUG 28 expiration for $3.40. This one is pandemic proof so I wouldn't mind getting forced into some shares when my income game luck runs out. Should have done this months ago. DG is too obvious. Even pays a small dividend with a good growth rate.
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I sold a csco put strike $40 for change expiring mid September. And some Teva puts.
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08-18-2020, 10:18 AM
(This post was last modified: 08-18-2020, 10:19 AM by fenders53.)
Got exercised on my ADM covered call. Made about $1500 since March but left $300 on the table when it ran. Got tired of rolling it forward. I like ADM long-term but not up here.
Sold a ROKU covered call 157 strike expires in 10 days. Premiums are stupid good. May regret it if it runs but I would leave with a real decent profit for the short time I have held it.
Sold my FSLY shares (at a loss) and immediately sold a covered put. I'll be sad if it flies but I think it is taking a breather until we get closer to next earnings. The option income is just too tempting and I can insulate myself some from a modest drop. The thought process on this one is a little sketchy. I like FSLY longer term. Just over-valued.
I sold a CSCO SEP put last week as well. Just one. Not willing to get deep in CSCO until they turn it around to a growth story.
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And please wish for DE to drop $5 sometime in the next 10 days. I always brag I am undefeated shorting DE but this one isn't going well. Had to happen someday lol. I am protected from here so it doesn't matter if it runs another hundred points higher. I should probably short it again from here but I don't want to be stubborn and fight the tape.
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VBIN, what ETF do you use to play VIX options. I am ready but don't want to jump into a fund with bizarre leveraging practices.
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selling OTM puts for VIX does seem like a doable thing. I think I'll also look into that.
UI could also present some nice put possibilities today. In general the premiums are nice and big and it's down several percentages in premarket. It's one of those companies that takes a regular beating for some unknown reason but never stays down for long.
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The only 2 ways that I have been able to profitably trade VIX options is
1) Buy a 60+DTE call when VIX trades below prior month's low. You will get a pop or at worst lose a little bit.
2) When VIX trades 12.50-13.50 buy a call with 6 months expiration. You will get a good pop.
If you OTM put becomes ITM, look out.
YMMV