1 Win, 3 Losses, -$385

October 21st, 2016 Option Expiration

I closed out 4 positions on Friday; only 1 winner from the long Iron Butterfly. Total P&L was down -$385.

GFI Long Call13-Sep-1638-170
EGO Long Call14-Sep-1637-200
CCL Long Put19-Sep-1632-120
BAC Long Butterfly27-Sep-1624105

$BAC Long Iron Butterfly

BAC Chart at Option Expiration

PositionLong Iron Butterfly
Trade Length24 Days

Trade Start: 27th September

Iron Butterfly Payoff Chart

bac Chart for the 27th September


Strategy Order Panel for Iron Butterfly

Order panel for placing an Iron Butterfly strategy before market open Sept 27th

Volatility Graph for BAC on 26th September

Implied and Historical Volatility graphs for 26th September

$CCL Long 2 $43 Puts

CCL Chart at Option Expiration

PositionLong Puts
Trade Length32 Days

Trade Start: 19th September

ccl Chart for the 19th September

CCL have earnings out before market on the 20th. Friday's trading showed heavy interest in the $43 put options with 17k trading over 1k in open interest. Only 22k puts traded across the October series with 18k in open interest across all October strike prices.

The put volume to call volume on Friday was 17:1 even though the open interest for calls and puts was even at 18k-ish.

I didn't manage to grab a screen grab of the option data in time; when I went back a few hours later to do all the screen grabs the volume data had been zeroed out to get ready for the trading day.

Option Scanner Results for 16th September

Option Scans for 16th September

Implied and Historical Volatility Graph for 16th September

Implied and Historical Volatility Graph for 16th September

$EGO Long 10 $4 Calls

EGO Chart at Option Expiration

PositionLong Calls
Trade Length37 Days

Trade Start: 14th September

ego Chart for the 14th September

EGO showed up on the scanner with the $3.50 strike trading 5k over 4.4k. When I looked at the October option series I notice that there is significant interest across a few other strikes too...noteably the $4 call, which has 79k in open interest!.

With 5 weeks to go and the $4 call offered at 0.20 I thought it seemed a reasonable bet to make. So I placed an order for 10 contracts at 0.20 before the market open.

The pre-market showed EGO already gaining on the prior days 5% drop so I wasn't sure I'd be filled straight away. And I wasn't. 1 lot traded just after the stock opened and the remaining 9 two hours after that.

Option Scanner Results for 13th September

Option Scans for 13th September

Option Chain for 13th September

Option Prices for 13th September

$GFI Long 10 $6 Call Options

GFI Chart at Option Expiration

PositionLong Calls
Trade Length38 Days

Trade Start: 13th September

gfi Chart for the 13th September

I bought 10 $6 October calls on GFI. I used the prio days closing price as my order price and was filled on the open. I really should have paid more attention to what was happening in the markets prior to the open as the market sold off heavily from the open. It's likely I could have purchased these calls much lower than 0.17. They closed at 0.10 so I'm already down $70.

Option Scanner Results for 12th September

Option Scans for 12th September

Option Chain for 12th September

Option Prices for 12th September

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