Tale of two corrections

Following up from my Monday post comparing this correction to 2008’s… we are now looking more similar to the August 2011 correction.

Below, Aug 2011 is on the left, 2020 on the right. At the lows of Aug 2011, we had a week of extreme ups and downs like we have just experienced. In 2011, we then experienced a wide consolidation pattern into early October, when we finally went a bit lower and found the bottom. An extreme rally followed that.

Screen Shot 2020-03-05 at 1.01.24 PM

SPX 1-dte

#SPX1dte Sold to Open $SPX March 6th 2840/2860-3140/3160 for 1.80. IV 43.65%, SPX 3020, deltas -.06, +.06

VXX adding

#VXXGame Sold to Open $VXX March 20th 29 calls for 1.95. Offset against March 25 and 27 long calls. First ones I have sold ABOVE my longs, which were bought for .30 and .26 respectively.

ADS Covered Call

Bought 100 ADS @ 75.12 and sold 1 ADS 03/06/2020 76.0 Call @ 1.12.
The stock is at a 5 year low with a 3.12% dividend yield and a P/E under 8

SPY

#ShortPuts – Adding one…

Sold SPY APR 17 2020 275.0 Put @5.60

ROKU

#ShortPuts – Pretty good premium in this thing so adding one…

Sold ROKU MAR 20 2020 95.0 Put @ 2.05

SPLK Earnings

#ShortStrangles #ShortPuts #Earnings – Booked at the open since I’ll be out most of the day…

Bought to Close SPLK MAR 13 2020 130.0/172.5 Strangle @ 1.20 (sold for 3.00)
Bought to Close SPLK MAR 13 2020 135.0 Put @ 1.60 (sold for 2.10)