NFLX: The market makers got $.05 on the close. A couple week’s worth of #PieTrades brought in over $1500. Reset with #CoveredBackRatio “Cobras”. Dec 305c x 3/Dec 350 c x-2 ($125.15) Plus June 1 357.5 call @4.01. For 100 delta/100 shares of stock replacement.
Stock cost basis is $342.65. Net risk right now $12K.

TQQQ: Added another tranche Sep 50c x 6/Sep 56call -4 for 200 share stock replacement, Jun 8 58 call @.60. Stock Cost Basis: $55.30, Net risk: $3400

CVX: Rolled down calls from June 1 130 to June 8 127, added an additional #BeCS. Pocketed $174 on the roll, but struggling to keep up with underlying decline. New basis = $125.11

IBM and CRM are still left to manage: IBM I will allow May 25 to expire and open June 1 $144 call closer to the close. CRM has earnings next week. I was hoping the stock would be called, but I will roll to ITM calls for next week.

BABA: Added another tranche. Oct 175c +4, Oct 195 call -2, Jun1 202.5 call -2

Everyone have a SAFE weekend!!! Don’t get too sunburned! Military folks THANK YOU A MILLION TIMES for your service. I heart you!