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MU at 83.06
I’m going to Sell To Open 20AUG 82.5 Call against my long 80 Call to convert this position into a 2.5 point wide Call Spread.
I’m going to take out all of the risk out of this trade. Here’s the math:
I paid 6.65 for my long 80 call. I am collecting 6.80 by selling 82.5 call and this leaves me with a NET credit for this spread. This means that even if MU expires below 80 by August expiration, I cant lose any money in this position. My upside is capped beyond 82.5 and the most this position can make is 2.5 ($250 per 1 spread) plus the 0.15 credit on the downside.
Order Ticket:
Risk Profile:
CZR at 103.37
I’m going to Sell To Open 105/110 Call Spread against my long 95/110 Call Spread. This will convert my position into a Broken Wing Call Butterfly.
My original risk in the trade was 4.90 per 1 spread and this adjustment will cut risk down to 2.85 (I am giving up some upside potential above 110)
NVDA at 627.50
I’m going to put on a bullish trade with 18 days until expiration. I’m going with a broken wing call butterfly that will be set up with a 15 point wide Call Debit spread and a 10 point wide Call Credit spread. This trade will only have risk on the downside and the breakeven for this trade is 628.10
Risk: 3.10
Reward: 1.90
POP: 48%Order Ticket:
Risk Profile:
NOTE: NVDA has earnings coming up and this is the big risk in this trade. Only risk what you’re willing to lose.
LEN at 96.87
I’m buying a 5 point wide Call Debit spread, looking to pay 50% of the width of the spread. This trade has an implied probability of profit around 50%. I am risking 1 to make 1. I’m looking for support around 90 level and if this level cant hold, I will consider closing out this trade.
Risk: 2.50
Reward: 2.50
POP: 50%
Chart:
Order Ticket:
Risk Profile:
RBLX at 92.15
I’m looking for a move to 100 level. I’m going to set up a broken wing call butterfly with no risk on the upside:
Buying 92/100 call debit spread
Selling 100/105 call credit spreadRisk: 1.50
Reward: 1.50-6.50
POP: 43%
Risk Profile:
Order Ticket:
LEN at 99.35
I’m going to Sell To Open a 5 point wide Call Credit spread, to turn this Call Debit spread into a Call Butterfly, centered at 100 strike.
Order Ticket:
Video:
NKE at 137.68
I’m looking for a move towards 150. Right now, AUG expiration options are pricing in about a 15 point move and I think this is justified. The stock is currently in a squeeze and IF it should fire long, this one can move outside of expected range.
I’m going to structure my trade with no risk on the upside. I’m buying 135/145 Call Debit spread and I am selling a 145/150 Call Credit spread. This makes it a Broken Wing Call Butterfly. This butterfly is going for about 3.20 debit and that is the most I can possibly lose in this trade. If NKE pins 145 by AUG, this butterfly has the max potential profit of 6.80 and if NKE is above 150 then this butterfly will have a max profit of 1.80
My breakeven on this trade is 135+3.20 or 138.20
Risk: 3.20
Reward: 1.80-6.80
POP: 47%
Chart:
Risk Profile:
Order Ticket:
V at 227.52
I’m going to sell to open an OTM call credit spread to reduce my risk and cut my directional exposure to flat. I will let this trade simmer for few weeks and make any further adjustments, if necessary.
Video:
Order Ticket:
AnonymousBUY +xx BUTTERFLY SPX 100 (Weeklys) 11 JUN 21 4225/4300/4350 CALL @17.00 LMT CANCEL AT 5/27/21 15:01:34
BUY +xx WYNN 100 (Weeklys) 11 JUN 21 128 CALL @6.60 LMT
BUY +xx BUTTERFLY QQQ 100 (Weeklys) 11 JUN 21 337/343/346 CALL @1.56 LMTHere are 3 trade ideas that I have waiting to be filled tomorrow.
SPX is 2-4% of my portfolio
QQQ butterfly is 2% of my portfolio
WYNN is a call that is 1-1.5% of my portfolioPlease size accordingly, I have not yet been filled on these trades. I will let you know tomorrow if I am filled, but as of now I have them open and unless there is some catastrophic event before the market opens, I will have them waiting to be filled. If I adjust the prices, I will let you know.
NVDA at 639.90
I’m going to close this trade here.
Closing Order Ticket:
RCL at 93.56
I’m going to take this trade off and look for other setups
Closing Trade:
STC $RCL 18JUN 85/90/95 CALL BUTTERFLY MID 1.13 CREDIT
1. $TJX 16JUL Call Butterfly
2. $CAT 16JUL Call Condor
3. $FCX 18JUN Call Spread
4. $V 16JUL Call Condor
5. $GLD 16JUL Call Butterfly
6. $MSFT 18JUN Call Butterfly
7. $ETSY 18JUN Call Diagonal
8. $MU 20AUG Call Spread
9. $CZR 17SEP Call Butterfly
10. $LEN 16JUL Call Butterfly
11. $RBLX 25JUN Call Butterfly
12. $NKE 20AUG Call Butterfly
FCX at 44
I’m going to roll up my long 40 call to 43 strike, taking out about 80% of the risk in this trade.
Trade Adjustment:
SPY at 420.20
I’m going to put on a slightly bearish Put Butterfly. This position is more of a hedge for the longs that I am carrying and this trade will be assuming full risk. The risk in this trade is the debit paid to open this position.
I’m buying (3) 415/410 Put Debit spreads and I’m selling (2) 410/405 Put Credit spreads. This trade is currently going for a NET debit of 1.80-1.90
Risk Profile:
Order Ticket:
TOS order: BUY 1 -5/+2/+3 CUSTOM SPY 100 06 Jul 21/06 Jul 21/06 Jul 21 410/405/415 Put/Put/Put @1.86 LMT
RUT at 2291
I’m going to start a position in RUT with 59 days until expiration. We’ll look to scale into full size in 1/3rds.
First tranche is going to be a 70X60 Put Butterfly, centered at 2270. I am:
Buying 2330/2270 Put Debit spread
Selling 2270/2200 Put Credit spreadThis butterfly is currently going for 4.50-4.70 debit
Risk Profile:
Order Ticket:
NOTE: We’ll add the second tranche when RUT trades 50 points above the short strike of the first tranche or 2320 and I will add another 70X50 put butterfly, centered 40 points above the short strike of the first tranche.
