If you want some entertainment on a Saturday morning check out this post on Reddit

The post has over 100 comments referencing the ‘No one in my real life…..’ comments are probably applicable to most of the traders in this group…..sorry for not creating a direct link and suggesting you search for in on Reddit….but it is worth a few minutes of your time

SPY Ladder Update…..going the wrong way!

https://coveredcallswithjeff.wordpress.com/2021/04/10/update-on-spy-iron-condor-strategy-losing-175-despite-a-lot-of-effort-and-trading-schwab-might-be-winning-on-commission/

#spy-2, #ironcondor

Expiration Assignment

#optionsexpiration
$MRVL 48.5 put

#assignment
$BLNK 45.4 put

Have a springtime weekend (relaxing, not sneezing).

SPX stopped

#SPX1dte Bought to close $SPX Apr 12th 4155/4175 call spreads for 1.45. Condors sold for .95 an hour ago. The pop above 4129 in the last minute breached my stop, so I closed the call spread after the bell.

OptionsExpiration

*Expired*
**Calls*
SQQQ 04/09/2021 16.5 Covered Call
TLRY 04/09/2021 25.5 Diagonal Calls
TLRY 04/09/2021 26.0 Diagonal Calls
VXX 04/09/2021 14.0 Diagonal Calls
VXX 04/09/2021 15.5 Diagonal Calls
WFC 04/09/2021 40.5 Diagonal Calls
WFC 04/09/2021 41.0 Diagonal Calls
**Puts**
LABU 04/09/2021 65.0 Diagonal Puts
TLRY 04/09/2021 19.5/15.0 Bull Put spread
WFC 04/09/2021 37.0 Diagonal Puts

*Assignments*
Unable to profitably roll these forward for another week:
VXX 04/09/2021 22.0 Put (cost basis on resulting the stock 11.26)
VXX 04/09/2021 21.0 Put (cost basis on resulting the stock 11.49)
VXX 04/09/2021 19.5 Put (cost basis on resulting the stock 11.47)
VXX 04/09/2021 19.0 Put (cost basis on resulting the stock 11.46)
I’ll write covered calls weekly to see if I can get out above my basis

PLTR

#ShortPuts – Bought to Close PLTR APR 16 2021 23.0 Put @ .42 (sold for 1.35)

LABU Put Roll

Rolled down my LABU Apr 09 2021 70.0 Puts to LABU Apr 16 2021 65.0 Puts @ 0.62 Credit.

At least my 65.0 Puts for today are still looking like they will expire, leaving me with a couple of extra long puts for next week.

TQQQ Call Roll

Rolled up my TQQQ Apr 09 2021 103.5 Call to TQQQ Apr 16 2021 107.0 Call at $0.07 Credit.
Pushed it from In the money to out of the money for next week.

SPX trades

#SPX1dte Sold to Open $SPX Apr 12th 4035/4055-4155/4175 iron condors for .95, with SPX at 4110, IV 7.9%, deltas -.08 +.06

Expiring: Apr 9th 4030/4050-4135/4155 condors, sold yesterday for 1.05

Expiring with max credit of 20.00: Apr 9th 4080/4100 call spreads, bought Monday for 15.20. Also add .60 from selling put spread this morning.

#spx7dtelong

VXX Puts – closing some small longs

Sold to close 1 VXX 09/17/2021 10.0 Put @ 2.25. Bought @ 0.70 on 09/04/2020.

Sold to close 1 VXX 06/18/2021 10.0 Put @ 1.37. Bought @ 0.65 on 05/08/2020.

Sold to close 1 VXX 06/18/2021 9.0 Put @ 0.75. Bought @ 0.40 on 06/30/2020.

Rounding out my positions preparing for the coming split.

MARA RIOT Put Roll / TAN Put Close / AAPL BUPS Close

#shortputs
$MARA BTC 4/9 54 put and STO 4/23 50 put at added credit of .45 and gain $4 if assigned.
$RIOT BTC 4/9 59 put and STO 4/23 57 put at added credit of .45 and gain $2 if assigned.
$TAN BTC 4/`680 put at .25. STO at 1.85. Thank you @fuzzballl

#bups
$AAPL BTC 4/16 115/120 BUPS at .04. STO at 1.20. Thank you @ramie77

TQQQ,

STO May 14, 80 puts at 1.67, adding to the position.

TQQQ, BTC April 9, 100…

TQQQ, BTC April 9, 100 puts at .14 cents, sold at 1.11 so better to take the risk off the table today.

SOXL

#ShortPuts – Adding small…

Sold SOXL MAY 21 2021 36.0 Puts @ 1.80
Sold SOXL MAY 21 2021 37.0 Puts @ 2.10

SPX 7-dte

#SPX7dteLong Sold to close $SPX Apr 9th 4070/4050 put spreads for .60. Relying on the 4080/4900 call side for the main profit. Condors bought for 15.20 on Monday.

LABU OSTK

#ShortPuts – Rolling one and booking a bunch.

LABU:Rolled to the back of the line.
Rolled LABU APR 9 2021 81.0 Put to APR 30 2021 78.0 Put @ .30 credit

OSTK: Nice two day bounce up to resistance. Taking well over half here.
Bought to Close OSTK APR 16 2021 58.0 Puts @ .35 (sold for 1.05)
Bought to Close OSTK APR 16 2021 59.0 Puts @ .44 (sold for 1.16)
Bought to Close OSTK APR 16 2021 60.0 Puts @ .54 and .55 (sold for 1.75 and 1.35)

VXX Reverse split

Barclays Bank PLC Announces Reverse Split of the iPath ® Series B S&P 500 ® VIX Short-Term Futures™ ETNs

Barclays Bank PLC (“Barclays”) announced today that it will implement a 1 for 4 reverse split of its iPath ® Series B S&P 500 ® VIX Short-Term Futures ™ ETNs (CUSIP: 06746P621) (the “ETNs”) which it intends to be effective at the open of trading on Friday, April 23, 2021. The ETNs currently trade on the CBOE BZX Exchange (“CBOE”) under the ticker symbol “VXX.”

AAPL FB BUPS Close / TQQQ Put Close

#bups
$AAPL BTC 4/23 122/128 BUPS at 1.54. STO at 2.80 on 4/5. Thank you @fuzzballl for the quickie (ooops!!)
$FB BTC 4/16 270/280 BUPS at .10. STO at 2.12.

#shortputs
$TQQQ BTC 4/9 100 put at .10. STO at 1.22. Thank you @jsd501. Another quickie. I’m exhausted.

ROKU

#ShortPuts – Taking this 3 weeks early on the nice run up last few days.

Bought to Close ROKU APR 30 2021 307.5 Put @ 1.99 (sold for 7.10)

SPX trades

#SPX7dteLong Bought to Open $SPX Apr 14th 4075/4095-4105/4125 iron condors for 14.95, with SPX at 4095.

1-dte trade to follow in comments.

#spx1dte

VXX Puts

New #VXXContango Trade.
Bought to Open VXX Jun 17 2022 3.0 Puts / Sold to Open VXX Apr 16 2021 10.0 Puts at $0.05 Net Credit.
Short DTE = 8
Long DTE = 435
VXX at 10.31

TSLA Diagonal Closed

On Monday I bought to Open 1 TSLA May 21 2021 900.0 Call / Sold to Open 1 TSLA Apr 09 2021 725.0 Call @ 0.60 Credit.
Today I closed both sides @ $5.60 Credit.
Total gain in 3 days was $6.20 and it frees up significant buying power.
#WinWin with a credit in and another credit out

TQQQ,

In my IRA, STO May 21, 75 put at 1.45

VXX Puts

My short strike price finally caught up to the strike on my existing long term puts left over from earlier #VXXContango Trades.
Sold VXX 04/16/2021 10.0 Puts @ 0.20.
Sold against existing long June 10 and September 10 Puts.

SPXpire

#SPX1dte Expiring worthless: $SPX Apr 7th 3995/4015-4110/4130 condors, sold yesterday for 1.10.

#SPX7dteLong Expiring for max credit of 20.00: Apr 7th 3995/4015 call spreads. Condors bought for 15.75 last Wednesday.

LABU

Last new positions for this week in this stock.
Sold LABU 04/09/2021 65.0 Puts @ 0.65.
LABU at 73.75.

2 DTE

AAPL

#BullPutSpreads – Got the little run up to the 50 day so booking it.

Bought to Close AAPL APR 23 2021 128.0/122.0 Bull Put Spread @ 2.02 (sold for 3.70)

SPX BF trade

Rolled the Put BF’s long leg 4050 to 4040 for 1.75 credit, into a BWB 4040/4025/4000.

The pullback in SPX wasn’t very big, and now pushed back above VWAP. Like to remove some risk.

Still holding the Call side BWB: 4115/4125/4145

The initial trade cost 1.4, now 0.35 credit. will exit each BWB at additional $1-2 credit.

SOXL

#ShortPuts – Adding…

Sold SOXL MAY 21 2021 34.0 Puts @ 1.75

FB BUPS Close / NAIL Put

#bups
$FB BTC 4/16 280/270 BUPS at .20. STO at 2.12

#shortputs
$NAIL STO 4/16 83 put at 3.00. Volatile bull ETF

LABU

BTO $LABU Apr-09-21 76/Apr-16-21 75 Call Diagonal @ 2.7

Thanks to the recent posts on LABU. There is decent IV skew for a 2 day trade. 68% PoP between 71-83, close enough to the recent low/high. targeting 50% return on the risk.

DDOG

BTO $DDOG Apr-09-21 90/Jul-16-21 90 Call Calendar @ 7.95

TLRY

Sold TLRY 04/09/2021 19.50 Puts @ 0.52.
Stock at 20 and at the March/April low.
#FallingKnife

OSTK

#ShortPuts – Adding. This should be before earnings. No confirmed date yet but probably early May.

Sold OSTK APR 16 2021 58.0 Puts @ 1.05

TSLA

My diagonal spread from Monday is working great. TSLA is uncharacteristically quiet after Monday’s gap up.
Can it last??

TSLA

REGN pre earnings

#BullPutSpreads – Similar to the AAPL trade last week. Taking a directional position in the week before earnings. Manage if needed into the earnings week. Chart is starting to look pretty bullish.

Sold REGN APR 30 2021 500.0/480.0 Bull Put Spread @ 11.26 (filled instantly at better than mid so can do better)

TQQQ,

STO May 14, 80 put at 1.95

AMZN roll up

With the call side (3250/3260 bear call spread) of my iron condor getting breached, rolled $AMZN Apr 16 3100/3090 bull put spread up to 3250/3240 @ 3.91 credit. Position is now a 3240/3250/3260 iron fly with total premium taken in 8.76/max loss 1.24.

TQQQ,

STO April 9, 100 put at 1.11, taking a flyer on a very small trade.

LABU FSLR Put Close / WIX Roll Call

#shortputs
$LABU BTC 4/9 77 put at 1.60. STO at 7.47. Thank you @fuzzballl
$FSLR BTC 4/16 75 put at .20. STO at 2.10. Thank you @fuzzballl
#coveredcalls
$WIX BTC 4/16 300 call and STP 5/21 320 call at added credit of 5.40

LABU

Jumping on the train with y’all. Sold $LABU May 21 60 puts @ 3.60.

SPX trades

#SPX7dteLong Bought to Open $SPX Apr 12 4050/4070-4080/4100 iron condors for 15.40, with SPX at 4073.

1-dte trade to follow in comments.

LABU

Sold 1 LABU Apr 09 2021 70 Put at $1.05. Adding to my position.
I still have extra long Puts from earlier diagonal spreads.

LABU

#ShortPuts – Filled while I was out. Adding one…

Sold LABU APR 23 2021 70.0 Put @ 2.75

SOXL

#ShortPuts – Tiny starter position. Come and get it Mr. Market. I’ll be waiting. 🙂 🙂

Sold SOXL MAY 21 2021 35.0 Puts @ 1.74

SPX BF trade

BTO two $SPX 4/9 BFs

Call BWB: 4115/4125/4145 @ -0.6
Put BF: 4050/4025/4000 @2

Net cost 1.4, if SPX moves close to either short strikes it may start to see some profit.

ROKU pre earnings

#ShortPuts – Caught an upgrade this morning so rolling the put sale from yesterday up to the new expected move and near recent lows. Staying in the week before earnings.

Rolled ROKU APR 30 2021 280.0 Put to APR 30 2021 307.5 Put @ 3.22 credit (7.12 total now)

TSLA Diagonal Pre-earnings

Bought to Open 1 TSLA May 21 2021 900.0 Call / Sold to Open 1 TSLA Apr 09 2021 725.0 Call @ 0.60 Credit.
The short is before earnings, the long is after earnings.
Gained about 1.20 on the spread prices by today’s close.

#BoredToDeath Trade

Closing May LABU

Bought to close 5/21 45 puts @ .80. Sold for 2.60 on 3/29.

SPXpiration ugly

#SPX1dte Expiring for 12.50 debit: $SPX Apr 5th 4065 short calls. Condors sold for 1.05 on Friday.

#SPX7dte Expired with max credit of 20.00: $SPX Apr 5th 3870/3890 long call spreads. Condors bought for 16.10 last Tuesday.

TSLA

Rolled $TSLA Apr-09-2021 700/710 #BeCS // Apr-23-2021 710/720 @0.20 Debit Stock popped to 705 or so today

AMC

Rolled $AMC Apr-09-2021 14 #ShortPuts // Apr-23-2021 @0.36 Credit
Rolled $AMC Apr-09-2021 14 #CoveredCalls // Apr-23-2021 @0.39 Credit

SPX 0DTE

BTO $SPX Apr-05-21 4075/Apr-07-21 4075 Put Calendar @11.4
PoP 71% in range of 4063-4087, max potential profit 47%. looking for 20%.

TQQQ,

All of the 110 calls that I sold are now covered calls. I bought the stock and the chart is breaking to the upside in spite of interest rates.

TQQQ,

STO May 21, 70 put at 1.41

SPX trades

#SPX7dteLong Bought to open $SPX Apr 9th 4050/4070-4080/4100 iron condors for 15.20, with SPX at 4076.

#SPX1dte Stop was hit at the open, and I tried to get cute and exit this morning for less than 2.00. Could have done it for about 2.20. Missed it, and now in the hole over 11.00. Only hope is for a pull back to 4065.

O MARA Puts

#shortputs
$O STO 4/16 65 put at .85
$O STO 5/21 62.5 put at .90
$MARA STO 4/9 54 put at 2.75

AMZN adjustment

With the call side (3250/3260 bear call spread) of my iron condor getting tested, rolled $AMZN Apr 16 2910/2900 bull put spread up to 3100/3090 @ 1.35. Total premium now 4.85/max loss 5.15.

ROKU pre earnings

#ShortPuts – Selling week before earnings, outside the expected move, and below recent lows. Should be good premium for a roll if needed.

Sold ROKU APR 30 2021 280.0 Put @ 3.90

TQQQ

#ShortPuts – For lack of anything else to do. Completely out of this one now a month early.

Bought to Close TQQQ MAY 7 2021 70.0 Put @ .83 (sold for 2.85)

VXX – Closing a long Put position

Sold to close VXX Apr 16 2021 10.0 Puts @ 0.15 & 0.16
Purchased this lot on January 27th @ 0.06 and have been writing against them since then.
I am scaling out of these and when they are gone I’ll start writing them

I’m still long June/September/Jan 2022/Jun 2022 Puts that I continue to write against.

SPY Ladder…..

https://coveredcallswithjeff.wordpress.com/2021/04/04/update-on-spy-ladder-four-ics-closed-five-open-profit-of-2255-after-47-days/

March Jobs Report

#Jobs — Obliterating expectations, plus more added to Jan & Feb.

Gain of +916,000 non-farm payroll jobs, vs. expected gain of 645K
Unemployment at 6.0%, down by 0.2
U6 unemployment at 10.7%, down by 0.4
Labor force participation 61.5%, up by 0.1

Feb jobs revised up by +89K to +468K
Jan jobs revised up by +67K to +233K

OptionsExpiration

*Expired*
AMC 04/01/2021 15.50 Diagonal Call
GME 04/01/2021 250/300 Bear Call Spread
LABU 04/01/2021 85.0 Diagonal Call
LABU 04/01/2021 90.0 Diagonal Call
VXX 04/01/2021 13.0 Diagonal Calls
VXX 04/01/2021 13.5 Diagonal Calls
VXX 04/01/2021 14.0 Diagonal Calls
VXX 04/01/2021 15.0/32.0 Bear Call Spreads
WFC 04/01/2021 40.0 Diagonal Calls

LABU 04/01/2021 70.0 Diagonal Put
LABU 04/01/2021 65.0 Diagonal Put
VIAC 04/01/2021 40.0 Diagonal Puts
VIAC 04/01/2021 35.0 Short Put
WFC 04/01/2021 36.5 Diagonal Puts

*Assignments*
WFC 04/01/2021 31.50 Covered Calls

Calendars update

$GME Apr-01-21 180/Apr-09-21 180 Put Calendar bought at @ 13.08. This one wasn’t as easy as previous weeks, highest paper profit reached was 10%ish. Wanted to hold into later the day to extract as much decay from the short leg (It was $3 even when the stock was at 190 this am). Sold half at 13.42 in the last hr. For the remaining half, rolled into a 180/170/160 put BF for 12.1 credit, so the BF net cost $1. With how GME moves around, there “should” be opportunities to get out for some profit next week.

$V May-21-21 215/Apr-01-21 215 Call Calendar bought @ 5.1, rolled short leg to 4/9 217.5 for 0.42 credit

$XBI Apr-01-21 140/Jun-18-21 140 Call Calendar @5.9, rolled the short to 4/9 145 for 0.36 credit.

I closed almost all my credit spread trades, as remaining risk/reward drop below 1:0.2.

Have a nice weekend!

Expirations

#optionsexpiration
$WYNN 127 call
$TAN 85 put Thank you @fuzzballl
$LABU 70 put Thank you @fuzzballl
$LABU 65 put Thank you @optioniceman
$MARA 43 put
$MRVL 48.5 put

Happy Easter Weekend to all.
Stay well

UVXY – Closing a long Put position

Sold to close UVXY Apr 16 2021 5.0 Puts @ 0.23.
Purchased these on March 1st @ 0.04 while writing March 5th 8.0 Puts against them that ultimately expired.
A #WinWin on a #UVXYContango trade.

I’m still long June 4.0 and 5.0 Puts that I continue to write against.

The next reverse split can’t be too far off with the stock at 5.40

AAPL

#BullPutSpreads – Just for fun, taking a directional shot the week before earnings. I’ll take the stock for earnings if needed.

Sold AAPL APR 23 2021 128.0/122.0 Bull Put Spread @ 3.70

OSTK

#ShortPuts #Covered Calls – Stock getting called away for nice gains so replacing with a starter. Should be a week or two before earnings.

Sold OSTK APR 16 2021 59.0 Puts @ 1.16
Sold OSTK APR 16 2021 60.0 Puts @ 1.35

SNOW

#ShortPuts #CoveredCalls – Letting stock get called away at a slight loss. Replacing with this to work it back to even.

Sold SNOW APR 16 2021 220.0 Put @ 4.00

EDIT: And…should be week before earnings at least.

Sold SNOW APR 30 2021 220.0 Put @ 6.40

VXX Put Roll

Last Trade today
Bought to close VXX Apr 01 2021 11.5 Puts / Sold to Open VXX Apr 09 2021 11.5 Puts at $0.23 Credit

Jobs Report tomorrow

Even though stock market is closed, the March jobs report will be released at 8:30am ET.

SPX trades

#SPX1dte Sold to Open $SPX Apr 5th 3925/3945-4065/4085 iron condors for 1.05, SPX at 4012, IV 8.2%, deltas -.06 +.06.

Expiring worthless: Apr 1 3905/3925-4035/4055 condors, sold yesterday for 1.15

#SPX7dteLong Expected to expire with max credit of 20.00: Apr 1st 3980/4000 call spreads. Condors bought Monday for 15.60

LABU Put Roll

Bought to close 1 LABU 04/01/2021 75.0 Put @ 0.05. Sold this on a rolldown last Thursday @ $5.92

Replaced it with 1 LABU 04/09/2021 70.0 Put @ $1.25

LABU

#ShortPuts – Another one for safety.

Bought to Close LABU APR 1 2021 80.0 Put @ .40 (sold for 2.20)

Sold LABU APR 16 2021 72.5 Put @ 3.20

EDIT: Last one this week in this ticker. Going out a week and down.

Rolled LABU APR 1 2021 85.0 Put to APR 9 2021 81.0 Put @ .15 credit