Closing

The markets rallied hard today, but I do not think that this crisis is over. I want to raise cash. MGM seemed like a good choice for liquidation based on its particularly massive rally. Sold MGM 100 for 11.47 and bought MGM Apr -17 Put for 5.60 debit for a…

Third time’s a charm. The first two NOB spread trades were taken off as scratches, but this one was a winner with a profit of $260 per spread. The spread between the 30 year bonds and the 10 year notes came in nicely with this market relief rally. Bought /ZB…

I am closing the bond call for a small profit. Will reload again on another spike in bonds. Bought /ZB Mar 27 167 Call for a credit of 1’34.

Taking the silver future off for a tidy profit. I am still very bullish on precious metals and will look to reload on a pullback. Sold /SI Mar for 18.145.

Well the bottom really fell out of natural gas after I bought it so I am glad to be able to scratch this trade on a minor rebound. I still think that energy is oversold so will look to buy more on a drop. Sold /NG March for 1.95.

Closing the crude short put on a slight bump in the price of oil. Bought Mar 50 P for 2.03 debit.

Plenty of movement in the markets today providing opportunity. Closing the crude short put on a slight increase in the price of oil. Bought Mar 50.5 P for 2.30 debit.

With the recent increase in the price of /ES and the accompanying volatility decrease, I am buying back the /ES strangle. Will likely sell another strangle on a pop in volatility. Bought /ES Mar -3160P/-3280 C for a debit of 96.00.

I am closing the /ES strangle for a quick $200 profit per contract. /ES is hanging out dead center in the strangle and volatility has dropped slightly. There is likely more profit to be had in this position, but I want to raise more cash and will likely put on…

Here is an opportunity to cover the /ES 3220 Calls. Many purported reasons in the news for the market to come in including Coronavirus, Bernie leading other democratic nominees in recent polls, more conflict in Iraq, etc. Those maybe the reasons or maybe the market was just overbought. Doesn’t matter.…

Silver prices had a little pop offering a $500 profit per contract. I took it since it happened so quickly. I will likely redeploy when /SI Mar drops below 17.80 again. Sold /SI Mar for 17.90.

Selling natural gas future on a small uptick for $430 per contract. I plan to buy it again if the price drops back. It is a great underlying for trading. Sold /NG Feb for 2.172.

I sold the silver future on 12/25/19, but was unable to update the blog due to technology limitations while traveling. I am still long gold and silver, but figured I would take this early Christmas gift on a decent run up. I thought about selling a call against the future…

This trade went in the wrong direction immediately. By following the mechanics of rolling the options, I was able to scratch the trade. It took about a month for this to play out. The market has been on an unrelenting tear which is limiting volatility related opportunities. There is very…

I am taking a quick profit in natural gas. I probably sold it too early, but I am still long /NG via short puts. So taking some risk off the table and booking a $330 profit per contract. Sold /NG Feb for 2.247.

I believe gold is just beginning a run into a seasonally favorable time of year, but I bought back the gold put for a $170 profit per contract because I am overweight gold compared to silver. When precious metals run, silver usually has more upside. So I am moving the…

I decided to close out the NOB spread when the opportunity came to scratch it. I won’t be so fast to put this trade on again given that I have scratched two of these spreads consecutively. I see some other opportunities on the horizon and this trade was taking up…

I opened this trade on October 30 by selling the /ZB Nov 158′ 16 straddle for a credit of 2′ 36/64. As the trade went in the wrong direction almost immediately, I rolled the November Bond straddle to December with a new strike price of 159 in order to collect…

Volatility is dropping everywhere. Taking some positions off in order to redeploy capital when there is more opportunity. Bought /ZW Dec 495P/545C strangle for a debit of 9.125.

X shares rose after its earnings release and the price of the 11 Puts in November collapsed so taking profits of $36 per one lot. That would be a $360 profit if holding 10 options contracts. Bought X Nov 11 Puts for 0.09 debit.

I really like this trade especially in this low volatility environment. The spread is still wide and I plan to put it on again when it widens up. Sold in Dec /6A for 0.6866 and bought /6C for 0.76635 for $145 profit for each contract pair.