Closing

I am selling the gold calls for a quick profit. Gold rebounded slightly during the next trading session so I am taking this opportunity to close out the trade for a $240 profit on each call. My portfolio delta is negative enough that it will benefit in a general market…

Gold went in the right direction almost immediately. This trade might become a much bigger winner, but I want to harvest some profits now with the intent to go back in to a similar trade if gold pulls back again. Bought /GC Jul 1675P for a debit of 20.10. Sold…

I am buying back the gold strangle to make $170 profit per contract. Gold volatility came in a little providing an opportunity to take 10 percent of the maximum profit of the trade in one day. I’d do that everyday given the chance. /GC Jun -1620P-1915C for a debit of…

I am closing the natural gas strangle for a $60 profit per contract in one day as the price of natural gas pulled back. I’ll take the quick win and move on. /NG Jun -1.8P-2.2C for a debit of 0.255.

I am pulling the plug on the Cameco trade idea mentioned by Rick Rule during a BNN interview. Cameco is still worth owning in my opinion, but it is a poor candidate for option selling. The options are insufficiently liquid meaning that large bid/ask spreads reduce the actual credits received. The volatility component…

I am buying back the vertical put spread in gold as the price of gold took off almost immediately after I put this trade on. /GC May 26 -1635P+1660P for $8.20 debit for $230 profit per spread.

The price of gold softened a little during the trading session resulting in the vertical spread being worth less. I bought it back to realize a $30 profit per spread in one day. /GC Apr 27 +1900C-1925C for $1.30 debit

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…