NFLX

#ShortPuts – Was going to do this yesterday on a down day but wanted to see a bounce first. Rolling up to the expected move and to the 20 day moving average. Still below the earnings gap.

Rolled NFLX FEB 19 2021 510.0 Put to FEB 19 2021 525.0 Put @ 2.60 credit (6.20 total now)

TQQQ

#ShortPuts -Thinning the herd almost 4 weeks early. These were filling at better than the mid so went ahead and took them.

Pre-split numbers:

Bought to Close TQQQ FEB 19 2021 95.0 Put @ .42 (sold for 2.20)
Bought to Close TQQQ FEB 19 2021 100.0 Put @.50 (sold for 2.20)
Bought to Close TQQQ FEB 19 2021 105.0 Put @ .70 (sold for 2.40)
Bought to Close TQQQ FEB 19 2021 110.0 Put @ .70 (sold for 2.10)
Bought to Close TQQQ FEB 19 2021 115.0 Put @ .90 (sold for 2.40)
Bought to Close TQQQ FEB 19 2021 120.0 Put @ .98 (sold for 2.94)

TSLA

BTC $TSLA Jan-29-2021 680/690 #BuPS @0.10. Was STO @1.72 on 1/11/2012

Holding Feb-05 and Feb-12 690/700 #BuPS.

XLNX

#Earnings – For anyone interested in this one it looks like earnings are now tomorrow after the close…

LAZR

#ShortPuts – Replacing the ones closed yesterday.

Sold LAZR FEB 19 2021 27.0 Puts @ 1.30

PENN Puts

#shortputs
$PENN STO 1/29 95 put at .80

#ironcondor #ironbutterfly LI Sold March…

#ironcondor #ironbutterfly LI

Sold March 19, 25/33/33/36 for 4.82 Chinese electric SUV company-what could go wrong?

#tastytradefollow

GME

BTO 50 put calendar @4.85, 1/29 2/5 when GME was at 70

May roll into BePS if GME doesn’t get down to 50 this week.

SPX trades

#SPX7dteLong Bought to open $SPX Jan 29th 3815/3835-3845/3865 iron condors for 16.55, with SPX at 3841.

#SPX1dte Bought to close Jan 25th 3780/3760 put spreads for .10. Stop was hit on the huge dip so playing it safe.

GME Crazy

Bought to Open GME Feb 12 2021 17.0 Puts / Sold to Open GME Jan 29 2021 30.0 Puts @ 0.15 Credit
Bought to Open GME Feb 19 2021 15.0 Puts / Sold to Open GME Jan 29 2021 29.0 Puts @ 0.13 Credit
Paired off with my one crazy GME Call Spread
GME = 75.0 after almost hitting 160 earlier today

https://www.zerohedge.com/markets/gamestop-explodes-early-trading-nears-10-billion-market-cap-amc-next

Also holding 2 lottery tickets 02/05/2021 12.0 Puts left over from the spread I did last week.

Explaining The Action: Benzinga PreMarket Prep co-host Dennis Dick and Tim Quast, founder and CEO of ModernIR and Market Structure Edge, discussed the short squeeze trade on Monday morning’s show.
“There are people arguing with me that GameStop’s fundamentals have totally turned around and this price is justified. And I’m trying to say this has absolutely nothing to do with company fundamentals in a move like GameStop,” Dick said.
Related Link: GameStop’s Power Surge: Will WallStreetBets Or The Short Sellers Come Out On Top?
Citron Research editor Andrew Left has taken a lot of heat from critics since taking a short position and setting a $20 price target for GameStop earlier this month. Quast said the difficulties Left and other small-time retail traders face in timing these huge runs is that they don’t have access to the same real-time information that large market makers like Citadel Securities do. In addition, the market makers don’t have to play by the same rules.
“This is something that traders often don’t understand,” Quast said. “There is a market-making exemption for the Citadels and the Two Sigma’s and the Morgan Stanleys and the Goldman Sachs of the world where they don’t have to locate stock to short like you and I would…They have been granted an SEC exemption as market makers from having to locate shares. They can manufacture them.”
“This is how a stock can behave crazily. How is it possible that GameStop is up 817% prior to today…just in the last 90 days?” Quast said.
Short Interest Vs. Short Volume: Quast said there are important reasons for these exceptions to the normal trading rules for market makers, who are responsible for maintaining liquidity in the stock market. But traders must understand what’s actually going on.
“Citadel is going to know what the buy-sell balance is, and when it reaches a point of equilibrium, Citadel will shift short and we will see a mean reversion for GameStop. And the only way you will see that is by watching short volume, not short interest. It will be three weeks out of date, and it’s absolutely meaningless as a measure of float or total shares outstanding,” Quast said.
Quast said these “manufactured” shares produced by market makers are responsible for stocks like GameStop temporarily having short interest well above 100%.
Is This The End? The wild trading action on Monday comes the same day Goldman Sachs issued a note pointing out potential bubble valuations in 39 stocks. Goldman named Crispr Therapeutics AG (NASDAQ:CRSP), Snowflake Inc (NYSE:SNOW) and Plug Power Inc (NASDAQ:PLUG) among the most overvalued stocks in the market based on projected 2022 enterprise value-to-sales ratios.
At around 10 a.m. on Monday, many of the heavily shorted stocks associated with the recent squeeze began to reverse course, including GameStop. On Twitter, Dick speculated that the short squeeze trade may have finally capitulated to the upside.
“It’s cooling off rapidly in last 5 minutes. I think we just topped out,” he wrote. “We just saw ‘Peak Stupidity’ and everyone is learning the hard way right now.”
Benzinga’s Take: The GameStop run among retail traders has worked like a charm up to this point and has likely forced plenty of retail short sellers to cover their positions at large losses. However, successfully timing the entry and exit points in highly volatile short squeezes can be extremely difficult, even for professional traders.

BZ: Steve Weiss On CNBC’s Halftime Report Says Bought GameStop Puts In March Because ‘This Is All Going Down,’ Says ‘This Should Be A $2 Stock’

Sell Mortimer … Sell
sell mortimer sell

TQQQ,

STO March 19, 55 puts at 1.47

#coveredcalls OXY Sold Feb. 12,…

#coveredcalls OXY

Sold Feb. 12, 23 call for .71. Stock at 21.

ABNB

BTC $ABNB Feb-05-2021 125/135 #BuPS @0.12 Debit. Was STO @2.00 on 1/12/2021

VXX Spreads

Bought to open VXX 02/19/2021 38.0 Calls /Sold VXX 01/29/2021 19.0 Calls @ 0.02 Credit
Bought to open VXX 02/19/2021 33.0 Calls /Sold VXX 01/29/2021 18.0 Calls @ 0.03 Credit.
These pair off with existing VXX Put spreads.

BB Crazy

Sold to close the long Puts I owned against the short puts that expired Friday despite BB being up 45% today.
Sold to close BB Mar 19 2021 6 Puts @ 0.23.
Bought them @ 0.18 and they were fully paid for by Friday’s short.

LAZR JD Puts Closed

#shortputs
$LAZR BTC 1/29 26 put at .10. STO at 1.15 Thank you @fuzzballl for making me see the light!
$JD BTC 1/29 85 put at .07. STO 1/11 at 1.83

LAZR

#ShortPuts – Taking these a couple weeks early.

Bought to Close LAZR FEB 5 2021 25.0 Puts @ .15 (sold for 1.25)

NVDA Roll

BTC $NVDA Jan-29-2021 495/505 #BuPS @0.19 debit
STO $NVDA Feb-19-2021 490/500 #BuPS @1.59 credit

COUP

#ShortPuts – Selling outside the expected move and down near the 200ma and a couple weeks before earnings.

Sold COUP FEB 26 2021 285.0 Put @ 4.20

GME Crazy

Bought 1 GME 02/12/2021 100.0 Call while selling 1 GME 01/29/2021 80.0 Call @ 2.00 Credit on the open.
Execution prices were 22.0 for the buy and 24.0 for the sell.
We will see if the tornado bucks me off on Friday

ABNB

STC $ABNB Jan-29-2021 $185 #Calls @9.6. Long side of the call spread from last week – was BTO @6.30.

Had a limit order in and walked away for 5 minutes. Should have been a trailing stop, as its higher now. Dammit. 50% profit on this side. Short side expired worthless over the weekend.

NNDM Puts

#shortputs
$NNDM STO 2/19 17.50 puts at 3.50. I’ll take stock at $14.

SPY Hedge Profit

Sold to close SPY 01/29/2021 385.0 Calls @ 2.20.
Bought these on 12/22 at 1.83 and again on 12/24 at 1.33

Will buy a new long several weeks longer in time (at a higher strike) to hedge my short calls.

SPX 7-dte

#SPX7dteLong Sold to close $SPX Jan 25th 3835/3815 put spreads for 2.20. Banking on call side for a better return. Condors bought last Wednesday for 15.55.

Graphs on Individual Positions Over Time in IB Account

Tables/Graphs representing each of the positions over time. Good representation of where the profits are being generated.

https://coveredcallswithjeff.wordpress.com/2021/01/23/individual-positions-in-ib-account-and-return-over-time/

#coveredcalls, #return-over-time

Good week in market = good week in IB Account

Positions and Friday trades at bottom of post.

https://coveredcallswithjeff.wordpress.com/2021/01/23/ib-account-wk-ending-1-22-21-new-high-of-381160-16564-in-the-week-4-5/

#coveredcallcampaign, #coveredcalls

Expirations

#optionsexpiration
$VLO 60 call
$SLV 23.5 call
$FSLR 88 put

Assigned
$T 30 put

Have a comfortable weekend

NNDM Calls

#coveredcalls
$NNDM STO 2/19 20 call at .85

OptionsExpiration

Expired:
AAL 01/22/2021 17.00 Covered Call
SQQQ 01/22/2021 16.00 Covered Call
SQQQ 01/22/2021 17.50 Covered Call
VXX 01/22/2021 18.50 Diagonal Calls
VXX 01/22/2021 19.00 Diagonal Calls
VXX 01/22/2021 19.50 Diagonal Calls
VXX 01/22/2021 20.00 Diagonal Calls
VXX 01/22/2021 20.50 Diagonal Calls
WFC 01/22/2021 33.00 Diagonal Calls

BB 01/22/2021 10.50 Diagonal Puts
GME 01/22/2021 42.00 Diagonal Puts
VXX 01/22/2021 15.00 Diagonal Puts
VXX 01/22/2021 15.50 Diagonal Puts

Assignments:
None

UVXY

Bought to close UVXY 01/22/2021 10.00 Diagonal Puts @ 0.01. They won’t trade any lower.
#UVXYContango trade the worked

NFLX

#ShortPuts – Sold NFLX FEB 19 2021 510.0 Put @ 3.60

RIOT Put

#shortputs
$RIOT STO 1/29 20 put at 1.60

SPX 1-dte

#SPX1dte Sold to Open $SPX Jan 25th 3760/3780-3890/3910 iron condors for 1.15, SPX at 3848, IV 9.7%, deltas: -.07,+.07

Expiring: Jan 22nd 3780/3800-3905/3925 condors, sold yesterday for .85

GME Crazy

Range today 42.59 – 76.75
The stock ran over the highest strikes for ANY month @ $60
and with the stock UP $15 now, almost every put in any expiration month is UP

#lotteryticket

ABNB

closed half of ABNB 185 call calendar for 5.4, bought yesterday 4.45
For the 2nd half, sold 1/29 190/192.5 2:1 call ratio for 4.72 credit, turning it into a 185/190/192.5 BWB, with net 0.3 profit. will close 1/22 185 short call by EOD

VXX Calls

Bought to close VXX 01/22/2021 18.00 Diagonal Calls @ 0.01. They won’t trade any lower.

Sold these @ 0.47 & 0.48 on 01/15.

I’m letting expire other short VXX short calls I have for today at even higher strikes

PLTR Calls Roll / MRVL Strangle / TDOC BUPS Close

#coveredcalls
$PLTR BTC 1/22 27 call and STO 1/29 29 call at added credit of .22

#shortstrangles
$MRVL STO 1/29 53.5/55 strangle at 1.90

#bups
$TDOC BTC 2/19 190/200 BUPS at .40. STO at 2.50 on 1/7. Thank you @ramie77

OSTK

#CoveredCalls – Rolling out for a little more credit. These calls were run over and slightly below my basis. Getting closer to getting out at even then re-establishing over earnings.

Rolled OSTK JAN 22 2021 52.0 Calls to FEB 5 2021 52.0 Calls @ .80 credit

SNOW

#ShortStrangles #ShortStraddles – Rolling out and into a short straddle.

Rolled SNOW JAN 22 2021 327.5 Put to FEB 5 2021 325.0 Put @ 1.10 credit
Rolled SNOW JAN 29 2021 330.0 Call to FEB 5 2021 325.0 Call @ 2.50 credit

Position is now short 325 straddle @ 44.05

EDIT: Have so much premium in this now I’m rolling the call down to reduce deltas. Slightly inverted but more credit than the inversion.

Rolled SNOW FEB 5 2021 325.0 Call to FEB 5 2021 300.0 Call @ 4.10 credit

IBM

#postearningscalp
BTO 1/22 1/29 weekly 118 call calendar 1.32, target 20% and then 40%, exit by 1 pm

break even range 116-120.

This type of trade is to take advantage of the faster decay of the front week, and the IV contraction after earning. I typically set alerts on the break even prices, and let the exit orders to do their work. One could also set mental stops on the option price.

Given it’s Friday, lowered the target to 20 and 40%

VXX Puts

Another #VXXContango Special works as planned.
Bought to close 01/22/2021 16.0 Diagonal Puts @ 0.01. Sold these on 01/20 @ 0.27

Now net long some more Jan 2022 6.0 Puts for free.

SLB Calls

Bought to close 01/22/2021 SLB 26.50 Diagonal Calls @ 0.01. Sold on 01/15 @ 0.29
Bought to close 01/22/2021 SLB 27.00 Diagonal Calls @ 0.01. Sold on 01/19 @ 0.20

Rolled SLB 01/22/2021 23.00 Diagonal Calls up to 01/29/2021 23.50 Calls@ 0.02 Credit

LABU

#ShortPuts – Adding…

Sold LABU FEB 19 2021 90.0 Put @ 2.80

LAZR

#ShortPuts – Closing and opening.

Bought to Close LAZR JAN 29 2021 26.0 Puts @ .15 partial fill (sold for 1.10)
Sold LAZR FEB 12 2021 26.0 Puts @ 1.15

VXX Put Rolls

Rolled VXX 01/22/2021 19.50 Puts to next week for 0.22 Credit.
Rolled VXX 01/22/2021 20.00 Puts to next week for 0.17 Credit.
Rolled VXX 01/22/2021 21.50 Puts to next week for 0.20 Credit.
Rolled VXX 01/22/2021 22.50 Puts to next week for 0.17 Credit.

My short VXX 15.00, 15.50 and 16.00 short puts are still looking like they will expire tomorrow.

NVDA

#BearCallSpreads – Gotta take it a couple weeks early on this move.

Bought to Close NVDA FEB 5 2021 485.0/405.0 Bull Put Spread @ 1.05 (sold for 5.10)

RKT Roll (Feel like dancing?)

#shortputs
$RKT BTC 1/22 21 put and STO 1/29 20 put at debit of .35 but would gain $1 if assigned.

EOG DVN OXY COP APA SLB MRO

Oil Producers and Drillers Tumble: Biden Poised To Freeze Oil And Coal Leasing On Federal Land.

DVN and EOG are each down over 8%

SLB Rollup / Earnings tomorrow

Bought to close SLB 01/22/2021 23.50 Diagonal Calls / Sold 01/29/2020 24.00 Calls @ 0.02 Credit plus a half point bump in the short strike.

Waiting for short 26.50 and 27.00 short calls expiring tomorrow to drop to a penny.

SPX trades

#SPX7dteLong Bought to Open Jan 27th $SPX 3835/3855-3865/3885 iron condors for 15.60, with SPX at 3860

#SPX1dte Sold to Open Jan 22nd $SPX 3780/3800-3905/3925 iron condors for .80, SPX at 3860, IV 11.6%, deltas -.06,+.06.

ABNB

BTO 1/22 1/29, 185 call calendar @4.5.
PoP 75%, break even 175-196
If ABNB lands on 185 tomorrow, could theoretically score 80%.

LABU

#ShortPuts – Fairly aggressive starter position (for me). At the expected move and just below the 50ma.

Sold LABU FEB 19 2021 95.0 Put @ 3.40

ABNB March

Sold to open $ABNB 3/19 135 puts @ 4.70. Delta 14. Looking to get long at a basis around 130, below the early Jan lows.

VXX Calls

Sold all the following on the run to 16.50 in VXX.
Sold VXX 01/29/2021 18.00 diagonal calls @ 0.40
Sold VXX 01/29/2021 18.50 diagonal calls @ 0.34 & 0.36
Sold VXX 01/29/2021 19.00 diagonal calls @ 0.29
Sold VXX 01/29/2021 19.50 diagonal calls @ 0.25
#DoubleDip against long Feb and March calls already paid for with earlier diagonals

ABNB LAZR

Roll $ABNB Jan-29-2021 125/135 #BuPS // Feb 21 130/140 @1.65 credit
Roll $LAZR Jan-22-2021 29 #ShortPuts // Feb-12-2021 28 @1.85 credit

NVDA

Roll $NVDA Jan-22-2021 505/515 #BuPS // Feb-12-2021 490/500 #BuPS @1.65 credit.

#earningsPLUG BuPS STO 26 Feb…

#earningsPLUG BuPS
STO 26 Feb 50/55 for 1.76
Earnings on 4 March

NFLX #PostEarningScalp STC 1/22-29 570…

NFLX #PostEarningScalp
STC 1/22-29 570 calendar @7, bought for 4.8. 45% profit in a day

Britain’s IG to buy tastytrade for $1 billion in U.S. foray | Reuters

Britain’s IG said it plans to buy U.S. trading platform tastytrade for $1 billion, venturing into North America after a stellar year for the new breed of retail investment brokerages.
— Read on www.reuters.com/article/us-tastytrade-m-a-ig-idUSKBN29Q0PO

SNOW

#ShortStrangles – Having second thoughts about double selling the calls. Closing the one sold yesterday but leaving next week’s 330 strike. Sold against a Jan 22nd 327.5 put I’ll be rolling soon.

Bought to Close SNOW FEB 5 2021 330.0 Call @ 5.00 (sold for 4.10)

PLTR Calls / NIO Puts Roll / PENN Puts Closed

#coveredcalls
$PLTR STO 1/22 27 call at .28

#shortputs
$NIO BTC 1/22 59.50 put and STO 1/29 58.50 put at .60 added credit and $1 less if assigned
$PENN BTC 1/22 96 put at .10. STO 1/19 on stock quick drop at 3.10

SLB Rollup / Earnings tomorrow

Bought to close SLB 01/22/2021 24.00 Diagonal Calls / Sold 01/29/2020 24.50 Calls @ 0.02 Credit plus a half point bump in the short strike.

WFC Rolls

Rolled WFC 01/22/2021 30.50 Diagonal Calls out a week for 0.13 Credit
Rolled WFC 01/22/2021 31.00 Diagonal Calls out a week for 0.18 Credit
Rolled WFC 01/22/2021 31.50 Diagonal Calls up to 01/29/2021 32.00 Calls for 0.02 Credit.

Waiting for my short 01/22/2021 33.00 Diagonal calls to drop to a penny so I can cover them (or I’ll just let them expire).

LULU

Rolled $LULU Jan-22-2021 330/340 #BuPS // Feb-05-2021 325/335 @1.35 credit
Holding Jan-29-2021 330/340 #BuPS

ARKK

#ShortPuts – Starter…first time in it. Selling the expected move down near the 50 day.

Sold ARKK FEB 26 2021 125.0 Put @ 2.95

BLNK QS

#ShortPuts – Felt like I was getting too many of these new little known types of companies so closing one and rolling another. I’d like to concentrate all my firepower in those types of trades on LAZR for now.

Bought to Close BLNK FEB 19 2021 25.0 Puts @ .66 (sold for 1.03)

Rolled QS JAN 22 2021 57.5 Put to FEB 19 2021 53.5 Put @ .10 credit (earnings possibly somewhere in there)

NVDA LAZR

STO NVDA Feb-05-2021 490/500 #BuPS @1.75 20 delta, expires well before earnings.
STO LAZR Feb-05-2021 29 put @1.45
STO LAZR Jan-29-2021 30 put @1.00

TQQQ Split

Apparently 2 for 1.
My Feb 90 puts are now Feb 45 Puts

#tqqq Good thing we dumped…

#tqqq
Good thing we dumped this yesterday!

SPXpire

#SPX7dteLong Expiring for max credit of 20.00: $SPX Jan 20th 3825/3845 call spreads. Sold put side for 4.80 this morning, so that somewhat makes up for yesterday’s loss!

DKNG Call Roll

#coveredcalls
$DKNG BTC 1/22 57 call and STO 1/29 60 call at .24 added credit

VXX

Going out to next week for 2 #VXXContango Specials since the ones for this week seem to be working.
Bought to open VXX Jun 18 2021 9.0 Puts / Sold to Open VXX Jan 29 2021 15.5 Puts @ 0.04 Credit
Short DTE = 9
Long DTE = 149

Bought to Open VXX Apr 16 2021 10.0 Puts / Sold to Open VXX Jan 29 2021 15.0 Puts @ 0.02 Credit.
Short DTE = 9
Long DTE = 86

SPY

Dumped my 1 extra long Jan 25 2021 385.0 Call @ 2.03. Bought this a while back on 12/21 as part of a diagonal spread @ 1.64.

SNOW

#ShortStrangles – Stop set on next week’s sale so adding another. Selling against an ITM short put.

Sold SNOW FEB 5 2021 330.0 Call @ 4.10

TQQQ,

BTC January 22, 125 puts at .02, sold at 1.05