STO April 70 puts at 2.05, next earnings are not until May and $70 is near the low in December.
Sold $NFLX 2/21 395 calls (covered by stock) @ 1.75. Delta 14.
#SPX1dte Sold to Open $SPX Feb 7th 3280/3300-3370/3390 for 1.10. IV: 10.46%, SPX SPX 3343, deltas: -.07, .08
STO May 15, 90 puts at 2.35, earnings are on Feb. 13 but, I will take the chance. Stock trading at 102.74
$BA the short calls from my 2/21 iron condor (290/300/340/350) just got breached with the stock up nicely today. I rolled the 300/290 bull put spread up to 340/330 for 3.73 credit to create an iron butterfly with the call spread. A pretty aggressive roll to near the money but this is a strong move up through the 50 day moving average on volume. Total premium taken on now 6.31 against 10 point wide wings. If the move continues I will roll to March.
Yesterday morning I sold the $TSLA Feb 14th 550/1300 #ShortStrangles for 9.825. When the stock peaked around 780 today, these two options were about equal in value… despite the put being 230 points away, and the call being 520 points away! Stock action is indicating that the super crazy moves may be subsiding, despite the heavy skew to the call side. I’m looking to sell another one in the Feb 21st expiration, but I will likely wait until tomorrow. Would like to see this one get at least to 4.90 (50%) before I consider closing.
Since the price target is now $7,000 in 5 years, would love to get a long LEAP but the highest strikes are 1880 and going for 40.00-ish.
TSLA Rollout Call
Bought to close 1 TSLA 02/07/2020 680.00 Call / Sold 1 TSLA 02/14/2020 720.00 Call @ 2.65 Credit + 40.0 point higher strike.
This executed with the stock below 710 so I switched an ITM position for an OTM position.
Of course with the subsequent move in the stock the switch looks even better.
My long against this short is out in March @ 585 strike
#Earnings $PINS reports tonight. Below are details on earnings one-day moves over its 3 quarters of existence.
Oct. 31, 2019 AC -17.02%
Aug. 1, 2019 AC +18.62%
May 16, 2019 AC -13.48%
Avg (+ or -) 16.37%
Bias -3.96%, negative bias on earnings.
With stock at 22.75 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 19.79 to 25.71
Based on AVERAGE one-day move over last 3 quarters: 19.03 to 26.47
Based on MAXIMUM one-day move over last 3 Q’s (18.6%): 18.51 to 26.99
Based on DOWN max only (-17.0%): 18.88
Open to requests for other symbols.
For the feint of heart who haven’t been following this, prepare yourself.
Rolled Feb. 21 inverted 300/430 short strangle to March 20 for 2.69. TSLA up to 770 today, uggh
I’ve now taken in $10,756, trying to avoid assignment.
$BIDU is reporting on Feb 27.