Nov 242014

– SOLD STRANGLE XRT 100 JAN 15 97/88 CALL/PUT @1.42
Selling some options on the retail ETF. The retailers have been going straight up since the big drop and there’s only a couple stocks that haven’t reported earnings. So I’m looking for a little consolidation in the sector for the next couple weeks at least. This is one of those trades that I want to pull off pretty quick at around %50 of potential max profit. Basically I want this to trade right around this area for a while, kind of like a calendar. The grey box on the chart is my safe zone.

11/28/14 – BOT XRT 100 JAN 15 88 PUT @.55
I legged out of the trade. Which put me directionally to the down side.

12/3/14 – SOLD XRT 100 JAN 15 89 PUT @1.00
I legged back in. Which put me back to a neutral bias.
BTW – This just became Robbin’s “Trade Of The Week” on TastyTrade.

12/4/14 – BOT XRT 100 JAN 15 97 CALL @.45
Legged out on an limit order. I would have canceled the order. I didn’t realize it was still on.

12/4/14 – SOLD XRT 100 JAN 15 95 CALL @.90
Legged back in at a little tighter range but still maintaining a 70% OTM probability (Out Of The Money).

12/18/14 – BOT XRT 100 JAN 15 89 PUT @.63
Legged out with around %42 profit.  Now just have to roll out my call till it’s over.

12/30/14 – SOLD DIAGONAL XRT 100 JUN 15/JAN 15 98/95 CALL @1.35
I’ve been going all over the place on this trade.  Waiting for the darn pull back and selling puts on the way up.  It should be coming up soon. But till then I’m just gonna let this one ride.  I have to make up for about $.70.  I got smashed by the vol expansion.


1/6/15 – BOT XRT 100 JUN 15 98 CALL @2.81
Finally closed the position after getting hammered. %2 profit after commissions.