PCG 17 puts expiring, thanks @optioniceman
Why I sell options-last 2 days whipsaws, dow down 800 points yesterday, recovered. Today down another 485. All of my tickers are down but because of theta decay my core account is up. Wrong on direction but still making money.
I salute those of you that successfully trade directionally but these are the times that make me realize that being the house always wins in the long run!
However, some stability would be nice…….have a great weekend.
#VXXGame Sold $UVXY Dec 21st 50/60 call spreads for 7.00. Adding to my position I started for 4.35. This is entirely ITM, but I feel volatility will be quieting into Christmas, and a drift back below 50 in reasonable to believe in 2 weeks. Even without a true Santa Claus rally this can happen. Looking at the VIX and UVXY today, they’ve been drifting lower this afternoon, even as SPX continued lower. If I am wrong, it’s manageable as a spread.
#SPX1dte Sold $SPX Dec 10th 2490/2510-2710/2730 condors for 1.00. Expire Monday. Filled on spike higher. If I were selling now I would shift the whole thing higher.
#Earning Sold $FIVE Dec 7th 98 puts for 1.30. That worked nicely.
Sold 100/98 spreads for .65.
Bought to close 100 puts for .55
Sold to close 98 puts for 1.30.
Total profit 1.40.