SPX credit call spread (options)

Monday, 5/21/2018 (9:12:23 am, PT)

buy +4 May 21, 2018  2755 calls at $0.05
sell -4 May 21, 2018  2735 calls at $2.00 (28 delta)

net credit (max profit):  $1.95 x 4 x 100 =  $780
expiration:  1 pm (PT)


Monday, 5/21/2018 (12:33 pm, PT)

buy back short calls (2735) at $0.10 to remove the risk
let long calls (2755) expire

PROFIT:  $740 (in 3.5 hours) 😀

Learn to SELL call options here

Procter Gamble (PG) Put Options

Tue. 5/1/2018 (12:23:35 pm, PT)

sell -1 June 15, 2018  $70 put at $0.73

• stochastics: oversold
• 52-week low:  $71.92
• probability ITM at exp:  32.27%
• max profit:  $0.73 x 1 x 100 = $73

Mon. 5/21/2018 (12:45:13 pm, PT)

buy back put at $0.16

PROFIT:  $57

Comments:

I originally intended to own PG stock at $70/share (i.e., I was OK with assignment), which is the reason I chose the strike price of $70.  After 21 days, however, I was able to close my option trade at a profit, so I changed my mind about the possibility of getting assigned at $70.

Coca Cola (KO) Put Options

Thu. 5/3/2018 (11:23:32 am, PT)

sold -1 June 8, 2018  $41 put at $0.46

• stochastics: oversold
• probability ITM at expiration:  36%
• max profit:  $0.46 x 1 x 100 = $46
• days 'til expiration:  36

Mon. 5/21/2018 (12:44:22 pm, PT)

buy back put at $0.10

PROFIT:  $36

Comments:

I initially intended to take assignment at $41 on June 8.  However, 18 days later, I was able to buy back my put at only 10 cents and close my trade for a profit, so that's what I did.

SPX credit call spread

Friday, 5/18/2018 (9:52:12 am, PT)

buy +4 May 18, 2018  2740 calls at $0.10 (debit)
sell -4 May 18, 2018  2720 calls at $1.40 (credit)

• stochastics:  overbought region
• expiration:  1:00 pm (PT)
• net credit (max profit):  $520
• margin:  $8000
• delta of short call (2720):  30

Friday, 5/18/2018 (12:48:20 pm, PT)

buy back short calls (2720) at $0.05 to remove the risk

Comments:

• my closing order at $0.05 FINALLY filled at 12:48:20 pm (darn market makers!)
• let the long calls (2740) expire
• SPX closed at 2712.97

PROFIT:  $500 (in 3 hours)

LEARN TO SELL CALL OPTIONS HERE

SPX credit call spread

Wednesday, 5/16/2018 (10:01:20 am, PT)

buy +4 May 16, 2018  2745 calls at $0.10 (debit)
sell -4 May 16, 2018  2730 calls at $1.50 (credit)

• expiration at 1 pm (PT)
• short call (2730) delta:  29.42
• net credit (max profit):  $1.40 x 400 = $560
• margin:  $6000
• stochastics: overbought region

Wednesday, 5/16/2018 (12:11:40 pm, PT)

• buy back short calls (2730) at $0.10 to remove the risk
• let long calls (2745) expire ($40 sacrifice)

PROFIT:  $520 (in 2 hours, 10 minutes)  😀

Learn to SELL CALL OPTIONS HERE!

SPX credit call spread

Monday, 5/14/2018 (10:11:44 am, PT)

buy +3 May 14, 2018  2750 calls at $0.05
sell -3 May 14, 2018  2735 calls at $1.55

• net credit (max profit):  $1.50 x 300 =  $450
• stochastics in overbought region
• short (2735) call delta:  30
• margin:  $4500
• 3 hours left until expiration

Monday, 5/14/2018 (12:39:57 pm, PT)

buy back all short (2735) calls at $0.10 to remove the risk
let long (2750) calls expire

PROFIT:  $420 (in 2.5 hours)
return on capital:  9.33% (in 2.5 hours)

Learn to SELL call options HERE!

SPX credit call spread

Monday, 5/14/2018 (10:17:15 am, PT) FP

buy +3 May 14, 2018  2745 calls at $0.13
sell -3 May 14, 2018  2740 calls at $0.48

• net credit (max profit):  $0.35 x 300 = $105
• delta for short (2740) call:  13
• margin:  $1500 
• expiration:  1:00 pm, PT

Monday, 5/14/2018 (12:32:10 pm, PT)

buy back all short (2740) calls at $0.05 to remove the risk
let long (2745) calls expire worthless

PROFIT:  $90.00
Return on capital:  6% (in almost 3 hours)

Learn to SELL call options HERE!

SPX Credit Call Spread

Friday, 5/11/2018 (9:51:41 am, PT)

buy +2 May 11, 2018  2750 calls at $0.10
sell -2 May 11, 2018  2725 calls at $3.40

• net credit (max profit):  $3.30 x 200 =  $660
• margin:  $5000
• delta of short calls (2725):  48.63 (risky!!)
• stochastics:  overbought
• expiration:  1 pm (PT)

Friday, 5/11/2018 (12:57:50 pm, PT)

• buy back short calls (2725) at $0.60
• let long calls (2750) expire

PROFIT:  $540 (in 3 hours)

COMMENTS:

It's a good thing I bought back those short calls at $0.60 because they would have ended up ITM at 1 pm (expiration)!!!!

SPX closed at 2727.72 at expiration.

When you're trading short options, it's REALLY important to watch the charts carefully so you can make informed decisions.  Do NOT hold your short options until the last minute if it looks like they may end up ITM.  Just spend some money and buy back your short options!!

LEARN TO SELL OPTIONS HERE

SPX Credit Call Spread

Friday, 5/11/2018 (9:55 am, PT) FP

buy +2  May 11, 2018  2750 calls 
sell -2  May 11, 2018  2730 calls

• net credit (max profit):  $1.35 x 200 =  $270
• 3 hours left until expiration
• short call (2730) delta =  25.57
• margin requirement:  $4,000

Friday, 5/11/2018 (12:45:26 pm, PT)

buy back both short calls (2730) at $0.20 to remove the risk
let long (2750) calls expire worthless

PROFIT:  $230 (in 3 hours)
Return on capital:  5.75% (in 3 hours)

Learn to SELL call options HERE!

SPX credit call spread

Wed. 5/9/2018 (10:41:02 am, PT)

buy +3 May 9 2018  2720 calls at $0.10
sell -3 May 9 2018  2705 calls at $1.20

• net credit (max profit):  $1.10 x 3 x 100 =  $330
• short call (2705) delta:  23
• expiration:  1 pm (PT)
• margin:  $4500

Wed. 5/9/2018 (12:38:07 pm, PT)

buy back short calls (2705) at $0.05 to remove the risk

PROFIT:  $315

Learn to SELL call options HERE

SPX Credit Call Spreads

Wednesday, 5/9/2018 (11:43:25 am, PT) FP

buy +3 May 9, 2018  2715 calls at $0.13
sell -3 May 9, 2018  2705 calls at $1.08

• net credit (max profit):  $0.95 x 300 = $285
• short call (2705) delta:  23.25
• margin requirement:  $3,000
• 1 hour, 15 minutes left until expiration

Wednesday, 5/9/2018 (12:38:07 pm, PT)

buy back all short (2705) calls at $0.05 to remove the risk
let long (2715) calls expire worthless

PROFIT:  $270 (in 1 hour)
Return on capital:  9% (in 1 hour)

Learn to SELL call option HERE!

SPX CREDIT PUT SPREAD

Friday, 5/4/2018 (9:52:06 am, PT)

sell to open -2 May 4, 2018  2650 puts at $2.15
buy to open +2 May 4, 2018  2605 puts at $0.10

Facts:

• credit:  $2.05 = $410 max profit
• delta for short put:  28.42 (> 70% chance of success)
• margin requirement:  $9000
• expiration day:  May 4 (same day)

Why did I place this trade?

• SPX was trending up in the morning (strong trend)
• this is a same-day trade to take advantage of theta time decay

Friday, 5/4/2018 (12:41:37 pm, PT)

buy to close short puts at $0.05
let long puts expire worthless (sacrifice of $20)

Note:  SPX closed at 2663.42

TOTAL PROFIT:  $400 (in 3 hours)  .....  4.40% ROC

LEARN TO SELL PUT OPTIONS

CLICK HERE

SPX credit call spread

Wed. 5/2/2018 (10:20:03 am, PT)

buy +1 May 2, 2018  2685 call at $0.12
sell -1 May 2, 2018  2665 call at $1.37

• stochastics:  overbought
• FOMC conference call at 11 am (PT)
• expiration:  1 pm (PT)
• net credit (max profit):  $1.25 x 1 x 100 =  $125
• delta of short call (2665):  19
• margin:  $2000

Wed. 5/2/2018 (12:03:50 pm, PT)

• buy back short call (2665) at $0.05
• let long call (2685) expire

PROFIT:  $120

Learn to SELL call options here

RUT index short put options

Monday, 4/9/2018 (9:30:02 am, PT)

sell -2 April 13, 2018  1455 puts at $0.95

probability of success:  95%


Tuesday, 4/10/2018 (11:53 am, PT)

buy back puts at $0.50

PROFIT:  $90

Learn to SELL put options here

SPX short strangle

Fri. 4/13/2018 (9:22:31 am, PT)

sell -1 April 13, 2018  2670 call at $3.00 (33 delta)
sell -1 April 13, 2018  2650 put at $2.20 (21 delta)

net credit (max profit):  $5.20 x 1 x 100 =  $520
expiration:  1 pm (PT)

Fri. 4/13/2018 (12:11:36 pm, PT)

buy back call at $0.05

Fri. 4/13/2018 (12:58:56 pm, PT)

buy back put at $0.05

PROFIT:  $510

Learn to sell options here

SPX short call option

Tue. 4/10/2018 (11:02:53 am, PT)

sell -1 April 11, 2018  2690 call at $3.20

probability of success:  83%


Tue. 4/10/2018 (12:54:11 pm, PT)

buy back call at $2.00

PROFIT:  $120

Learn to SELL call options here

SPX short call option

Wed. 4/11/2018 (9:10:19 am, PT)

sell -1 April 11, 2018  2665 call at $4.10

• FOMC minutes at 11 am (PT)
• expiration at 1 pm (PT)
• probability of success:  64%

Wed. 4/11/2018 (10:45:29 am, PT)

buy back call at $1.00

PROFIT:  $310 (in 95 minutes)

Learn to SELL call options here

Comment:  
SPX closed at 2642.19.  If I had held my call option until expiration, I would have made $410.  However, I'm fine with closing my trade when I did and making $310 in only 95 minutes.

SPX short call option

Wed. 4/11/2018 (11:06:18 am, PT)

sell -1 April 11, 2018  2660 call at $3.10

• FOMC minutes at 11 am (PT)
• probability of success:  69%
• expiration:  1 pm (PT)

Wed. 4/11/2018 (12:13:25 pm, PT)

buy back call at $0.05

PROFIT:  $305

Learn to SELL call options here

RUT index put options

Friday, 4/6/2018 (12:52:59 pm, PT)

sell -2 April 13, 2018  1450 puts at $2.55

probability of success:  90%


Monday, 4/9/2018 (9:29:13 am, PT)

buy back puts at $0.95

PROFIT:  $320

Learn to SELL put options here

SPX short strangle (options)

Wed. 4/4/2018 (10:32:09 am, PT)

sell -1 April 6, 2018  2680 call at $1.12 (delta 5.75)
sell -1 April 6, 2018  2470 put at $1.13 (delta 3.50)

net credit:  $2.25 x 1 x 100  =  $225


Wed. 4/4/2018 (12:51:42 pm, PT)

buy back 2470 put at $0.15
let 2680 short call expire (SPX closed at 2604.47 on April 6)

PROFIT:  $210

Learn to SELL options here