UVXY VIX Partial Closed

#longcalls
$UVXY STC 3/20 35 call at 2.40 BTO at .30 Thank you @jeff

#bucs
$VIX STC 3/18 17/22 BUCS at 4.10 BTO 1/10 at .81 Thank you @fuzzball

#bups
$VIX BTC 3/18 13/15 BUPS at .04 STO 1/10 at .89 Thank you @fuzzball

Tracking the Virus

https://bit.ly/3cedEdn

SPX 1-dte

#SPX1dte Sold to Open $SPX March 2nd 2600/2625-3100/3125 condors for 2.05. IV: 50%, SPX 2827, deltas: -.05, +.07. Width: 375

That’s the best premium I have gotten in 14 months of this strategy, and the shorts were -10.3% and +5.9% OTM, when the trade filled. But 3 minutes later at the close, that shifted to -11.1% and +4.9%.

SPX 57% Vol

#SPX1dte Monday’s expiration is off-the-charts volatility. I’m going to be able to sell a condor that has short puts at 2570 or lower, or 11.4% OTM, and still get excellent premium. Pulling the trigger before the close.

CF Rolldown

Bought to close CF 02/08/2020 37 Calls / Sold CF 03/06/2020 36 Calls @ 0.55 Credit + 1.0 point lower strike for just one more week.
A lifetime in this market 🙂

SLB Early assignment and covered calls

Assigned on SLB 32 Puts on Wednesday, and today sold SLB 03/06/2020 32.50 Covered Calls @ 0.12.
Will probably roll them up if they end up in the money (unlikely).

SPCE

Original trade:

#BullPutSpreads #Earnings – Selling slightly in the money. If I get lucky and the stock goes up it’ll be a nice winner. On the other hand, no matter how far it drops I’ll own stock about 1.70 below my basis which can be more than made up in one week of call selling with the extreme premium on this thing.

Sold SPCE FEB 28 2020 41.0/36.0 Bull Put Spreads @ 3.30

So…closing the long puts for the gains and letting the shorts get exercised. Non taxable account so selling the covered calls early using spreads. Yesterday bought puts to protect the position from anything crazy. Selling aggressively to reduce basis as quickly as possible during this high volatility.

Sold to Close SPCE FEB 28 2020 36.0 Puts @ 12.40
Sold SPCE MAR 6 2020 22.0/52.0 Bear Call Spreads @ 3.70

Bought 7x size SPCE JUL 17 2020 5.0 Puts @ .10

All said and done own the stock at 21.60 basis covered at 22 next week….whew!

UVXY Covered Call roll.

Bought to close 1 UVXY 02/08/2020 13.50 call/ Sold 1 UVXY 03/06/2020 13.50 Call @ 0.10 Credit. Couldn’t do any better today.
If UVXY backs off a bit I should be able to roll up next week for a credit.

The small credit pays in part for the puts I am buying for April and June

UVXY Long put speculation

Bought to Open 1 UVXY Apr 03 2020 12 Put 0.27
Bought to Open 1 UVXY Apr 17 2020 12 Put 0.39.

UVXY range today was roughly 22 to 26

SPX 1-dte closed

#SPX1dte BTC $SPX Feb 28th 2850/2830 put spreads for .60. Condors sold yesterday for 1.45.

Not sure if I’ll be selling one tonight, but if I do, I am waiting until a minute before the close, or right after the close. After yesterday’s last-minute dive, I ain’t risking it.