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Good Afternoon!
As we have been discussing, the market was due for a pause or pullback...and the fact that one of the things the market expected and priced in to happen, the repeal of Obamacare, isn't going to to happen, doesn't help it's case to go higher.
The weekly and monthly charts are still exhasuted and it looks like the daily chart is releasing some to the downside. We have come down about 4% from the recent high. The daily cahrt is hugging the lower bollinger band, so we might see things go sideways along it over the next week. We are going to use this pullback to start establishing some postions on the indexes.
All of our trades fired as planned last week, so we got out of the WAC debacle for just about a breakeven (lost a few pennies). For the other positions I have, I will hold them for now and rollout as needed or sell them if WAC goes on a small run. This week, we are going to setup some spreads on the SSO, put defense on SUN, take profits on FB, and open a new trade on a new stock.
Have a great week!
p.s. I am always looking for feedback on this newsletter and how we can make it better, so please feel free to send it to me at
support@tenyeartrading.com.
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In today's video, we go over the market energy and recent move down in the market. We setup defense on our SUN trade, take profits on Facebook, and setup new trades on SSO and FNSR.
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Click below to see the 2016 Year in Review!
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March 2017
Naked Puts
WAC: We sold 5 Sept '17 $2 puts for $.35 each. WAC finished the week at $1.10 after a nasty drop on earnings. We bought these back for $1.10. and exited the trade.
WAC Defense: We bought 5 June '17 $1 puts as defense for our Septh '17 $2 puts for $.10 each. We sold these for $.38 each and exited giving us a nice profit.
Oil: We sold the Sept '17 $6 put for $.55 with 2 contracts. OIL came down and ended the week at $5.25. It is at a point where it will head back up.
AOBC Rollout: We rolled our Mar $22 put to the June $22 put for a credit of $.50. AOBC ended the week at $19.
Spread Trades
IWM Rollout: We rolled our IWM Mar '17 $136/146 put spread to the April $136/146 strikes for a credit of $.76. IWM finished the week at $134.50. If we can get it to drop a little lower or stay in this range for a few weeks, we should be able to exit this trade.
February 2017
Naked Puts
WAC: We sold the Sept '17 $3 put for $.60 with 2 contracts. WAC finished the week at $.80. We were saved by our defense making our breakeven on these around $1.40. We will stay in it and wait for WAC to come back up.
MYGN: We sold the Feb '17 $18 put for $1.30. MYGN ended the week at $19.40. We rolled this out to Aug '17 and pick up another $1.00 of credit making our cost basis in the $15's.. We now have defense on.
VSTO: We sold the AUG '17 $22.5 for a credit of $1.75. VSTO finished the week at $21.
VSTO Defense: We bought the Mar '17 $17.50 put for $.15. This expired.
INSY: We sold the Aug '17 $6 put for $.75. INSY ended the week at $10.61. We now have defense on.
MEET: We sold the Aug '17 $4 put for $.45 with 2 contracts. MEET Ended the week at $5.25. We now have defense on.
MEET Defense: We bought the May '17 $3 put for $.10 as defense fo our AUg '17 $4 put.
Spread Trades
NVDA: We sold 2 Sept $75/70 put spreads for $.80 each. NVDA ended the week at $107.50. We can buy these back for $.40.
WAC Defense: We bought 3 June '17 $2/1 put spreads as defense for our Sept '17 $3 puts. We will hold these for now.
DLTR: We sold the Sept $65/60 put spreads for $.85 with 2 contracts. DLTR ended the week at $75.
MYGN Defense: We bought the May '17 $14/13 put spread for $.15 as defense for our MYGN rollout.
INSY Defense: We bought the May '17 $5/4 put spread for $.10 as defense fo our Aug '17 INSY $6 put.
January 2017
Covered Calls
WAC: We sold the June $5 covered call for $1.00. WAC ended the week at $.80 and we sold our defense for extra profit as well as are letting this trade go to full profit.
Naked Puts
WAC: We sold the June $4 put for $.85 with 2 contracts. WAC ended the week at $.85 and we took full profit on our defense. Our breakeven is just below $2.
SUN: We sold the June '17 $25 put for $2.60. SUN ended the week at $24.50.
SUN Defense: We bought the Mar '17 $20 put as defense for our June '17 $25 put. This expired.
Spread Trades
NVDA: We sold the June $80/75 put spread for $.90. NVDA ended the week at $106. We can buy this back already for $.20.
December 2016
Naked Puts
WAC: We sold the June $4 put for $.50 with 2 contracts. WAC ended the week at $1.10. Profited from our defense and have a break even around $3.
TASR: We sold the June '17 $20 put for $1.20. TASR ended the week at $22.50 We can buy this back for $.50 and will look to do so on the next upward move by TASR.
INSY: We sold the May '17 $6 put for $.75 with 2 contracts. INSY ended the week at $10.61.
Spread Trades
TASR Defense: We bought the Mar '17 $18/16 put spread for $.15. this expired.
November 2016
Spread Trades
FB: We sold the June '16 $100/95 for $1.00. FB ended the week at $140. We can buy this back for $.05 and will do so this week..
AMZN: We sold the Apr '17 $675/770 put spread for a credit of $1.25. AMZN finished the week at $845. We can can buy this back for $.02.
WAC Rollout: We rolled our Jun '16 $7 put to the Dec '16 $7 put for a credit of $.60. This puts our breakeven down around $5. We let ourselves get put the shares since we are close to breakeven and either let it run up from here or sell calls.
WAC Rollout: We rolled our 2 June '16 $10 puts to the Dec $10 put for a credit $.15 each putting our breakeven just below $8. We let ourselves get put the shares since we are close to breakeven and either let it run up from here or sell calls.
FIT: We rolled our FIT May $17 put to the Jan $17 put for a credit of $2.05. Our breakeven is now under $14 and FIT ended the week at $6 after getting hammered on earnings. We rolled this to the May '17 strike for $.20.
April 2016
Naked Puts
PLUG: We sold the Sept '16 $2 put for $.32 with contracts. PLUG ended the week at $1.40. We let ourselves get put the shares and are getting close to breakeven. We will look to sell calls.
GPRO: We originally sold the April '16 $25 put for $2.20. We made another $1 from our defense putting our breakeven at $21.80. We rolled this out to the Jan '17 $25 strike for a credit of $.80. GPRO ended the week at $9.00.
February 2016
Naked Puts
VDSI Rollout: We rolled our VDSI Mar '16 $20 put to the Sept '16 $20 put for $1.15. This now put breakeven on our shares in the $15's. VDSI finished the week at $13 keeping us near breakeven. We got put the shares and can sell calls or sell the shares. We have a closing order in place.
November 2014
Naked Puts
EMES: We sold the March '15 $65 for $5.00. Emes finished the week at $15. If you remember, we rolled this out picking up another $3.15 to the June '15 strike. We have $8 in credit from our trades and picked up another $4 in selling out of defense. We rolled it again out to January 2016 picking up another $2.35, so breakeven is now around $50 on these specific shares. We rolled this our to Jan '17 and pick up another $.70 making breakeven overall on these specific shares $49.
In January '17. We allowed ourselves to get put the stock. Our cost basis on EMES all time is around $25, so we will sell calls and let it come up over time.
September 2014
Naked Puts
CRR: We sold the CRR March $60 put for $4.20. CRR finished the week at $12. Overall on our trades on CRR over the years have a nice profit. We received full profit on our defense and our breakeven is in the $50 range on this trade. We completed our rollout of this to the June cycle and picked up another $.85. As I have lamented in previous newsletters, this is the one trade of 2014 I wished I had waited on. I put it on too early in the drop in oil. We have more than made up for it with our previous trades on CRR over the years which has our cost basis below $30, but a lot of lessons learned in this trade.
We rolled our CRR trade out to Jan 2016 picking up another $1.75 making our breakeven below $50 (around $48) on these shares. We are rolled the Jan '16 to the Jan '17 $60 strike and picked up $.85. We allowed ourselves to get put the stock. Our cost basis all time on CRR is around $20, so we will sell calls as it comes back up.
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Closed Positions and Trade History |
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Trades of the Week for 3-26-17 |
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Stock Trades
VDSI: We have a GTC order in to sell our shares at $19.
Covered Call Trades
Put Trades
FNSR: We will sell the Sept '17 $23 put for $1.35.
Spread Trades
SSO: We will sell the Sept $75/70 put spread for $.90 with 2 contracts.
FB: We will buy back our June $100/105 put spreads for $.05.
SUN Defense: We will buy the june $20/17.5 put spread for $.25 using the 15% rule.
*All orders are setup as Good til Cancel (GTC)
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Ten Year Trading Company Information |
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