I am done for the day and who knows what the news will be on the weekend.
$SFIX has had a good run in the past week, so I’m taking profits. I entered into a Synthetic Long Call $21.00 with Nov 15 expiration on 10/10 for $0.25 debit. I closed the Nov 15 $21.00 put side yesterday at a $0.50 debit. Day traded a Nov 8 $22.00 call today at the lows (BTO $1.60) and closed it with my Nov 15 $21.00 Call for credit of $4.80 – so net profit at $2.45.
Still bullish on this one long term, but it looks like a pattern is forming, and while not overbought yet, I could see it dipping back down over the next few days. I’m a “TastyBites” guy as well, so I don’t have the margin to trade multiple lots and take profits off of table a bit at a time!
All cash going into weekend– have a good couple of days off and see you next week.
#SPX1dte Sold to Open $SPX Oct 21st 2935/2955-3025/3040 condors for 1.20, IV: 8.07%, SPX 2993.
Expiring worthless today: Oct 18th 2950/2960-3025/3035, sold yesterday for .45 (dbl size)
STO January 300 put at 5.40 on 1 contract. I will be adding if it goes lower.It works out to an 11% return for 91 days.