#LongCalls #CoveredCalls #LEAPS #ShortPuts – Been a slow couple weeks with the rally and being busy at work. Pretty much all hands on deck to keep things going with this crazy weather! Rolling some covered calls and ratio’d short calls against LEAPS and booking a couple winners for safety. Haven’t been adding anything new…just working with what I’ve got and trying to streamline things a little and be better about adding anything.
AMAT: Ratio’d and rolling just a week to stay prior to earnings.
LABU: One contract DITM roll below basis…my least favorite position right now but can roll as long as needed.
SMH: Ratio’d roll. Trying to stay as short term as possible.
SOXL: This was ITM not long ago so booking it. Sell again on next pullback.
TNA: Big rally so rolling ratio’d and covered.
TQQQ: Added to LEAPS a few days ago so this is ratio’d now.
UVXY: Rolling short ratio’d puts down. Long LEAP puts working great. This works as a nice hedge on volatility spikes.
Rolled XBI FEB 1 2019 78.0 Calls to FEB 22 2019 79.0 Calls @ .06 credit.
Obviously if I’d seen the Powell capitulation coming I’d not have sold any covered calls. Rolling working fine but capping upside (but giving a nice hedge also). These are all long term positions so working fine. Ratio’d short calls selling below LEAPS is a must. That way the rolls can be gradual since small to no upside risk.
LOL…not too bad since I hadn’t done much for a couple weeks.