Daily Archives: Friday, March 6, 2020

Unknown's avatar Jeff 2:08 pm on Friday, March 6, 2020  

It’s not about trading, but…

I wanted to let you all know that I have started a podcast with friend. We cover music, movies, TV and other pop culture topics. I am going to be posting each episode on this blog, as I have it set up to feed directly to iTunes, Spotify, etc. Listeners from those sites will NOT be seeing Options Bistro, however. The Posts are only the mechanism to transmit to the platforms.

You can get more info and see all episodes and updates at my other website, thepickcast.com. I welcome your feedback or comments on that site or on the Posts I make on this site!

The Pick

Unknown's avatar Jeff 1:03 pm on Friday, March 6, 2020
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SPX 1-dte

#SPX1dte Sold to Open $SPX March 9th 2760/2780-3100/3120 condors for 1.60. IV: 35.09%, SPX 2972, deltas: -.07, +.06. Filled about 30 seconds after the bell.

Expiring: March 6th 2840/2860-3140/3160 condors, sold yesterday for 1.80.

Unknown's avatar fuzzballl 1:01 pm on Friday, March 6, 2020
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TLT

#LEAPS – Long term short position lottery tickets…

Bought TLT JAN 21 2022 120.0 Puts @ 1.83 average
Sold TLT MAR 13 2020 155.0/145.0 Bull Put Spreads @ .72 (one fifth size)

Unknown's avatar Ramie 12:41 pm on Friday, March 6, 2020  

TLT insanity

Sold $TLT 3/20 170.50/175.50 bear call spread @ 1.28. Meant to sell the 170/175 but I’ll leave it.

Unknown's avatar 330nick 12:27 pm on Friday, March 6, 2020  

TLT

IV is at 42, more like a tech stock. IV rank is 237. Speechless.

Unknown's avatar Jeff 12:10 pm on Friday, March 6, 2020  

VIX breakout

Going to new heights, folks.

Unknown's avatar fuzzballl 11:54 am on Friday, March 6, 2020
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NTAP

#CoveredCalls – A few shares leftover from an earnings play…

Bought to Close NTAP MAR 20 2020 51.0 Calls @ .07 (sold for 1.39)
Sold NTAP APR 9 2020 46.5 Calls @ 1.31

Unknown's avatar 330nick 11:38 am on Friday, March 6, 2020  

OXY

Crazy (?) pricing on puts. Rolled OXY Mar6 33.50 puts to Mar13 33 puts for .41 credit. Fifty cent lower strike for 5 days with the stock at 27. Keeping the dream alive another week.

Unknown's avatar Ramie 11:32 am on Friday, March 6, 2020  

NVDA rolls

Rolled the following:
$NVDA 3/13 280 put out to 4/17 and down 20 points to the 260 strike for 1.09 credit
$NVDA 3/20 270 put out to 4/9 and down 10 points to the 260 strike for 2.10 credit
New strikes are now back out of the money, if only slightly, with the stock hovering just over 260

Unknown's avatar fuzzballl 11:08 am on Friday, March 6, 2020
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SPCE

#CoveredCalls – Pretty aggressive sales ITM. Trying to really reduce basis as it pulls back a little.

Bought to Close SPCE MAR 6 2020 22.0 Calls @ .05 (sold 22/52 spreads @ 3.70 and 4.35)
Sold SPCE MAR 13 2020 20.0/35.0 Bear Call Spreads @ 2.70

Unknown's avatar Lesserweavil 11:02 am on Friday, March 6, 2020  

JDST

Small play, short term.

BTO $JDST Stock @9.81 Debit
STO $JDST Mar-13-2020 9.50 Calls @1.11

Unknown's avatar Jeff 10:46 am on Friday, March 6, 2020  

Econ Calendar for week of 3/9/20

Screen Shot 2020-03-06 at 10.43.41 AM
Screen Shot 2020-03-06 at 10.43.41 AM

Link to calendar: https://research.investors.com/economic-calendar/

Unknown's avatar thomberg1201 8:48 am on Friday, March 6, 2020
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#earnings #closing COST Bought #ironcondor…

#earnings #closing COST

Bought #ironcondor for 1.33, sold yesterday for 1.91. COST is down about 6 points today, I’ll take the gain while I can.
Thanks for the data Jeff

Unknown's avatar thomberg1201 8:33 am on Friday, March 6, 2020
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#shortputs DAL Added a March…

#shortputs DAL

Added a March 20, 35 put for .66, stock is at 45 and up today.

Unknown's avatar Jeff 7:49 am on Friday, March 6, 2020
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UVXY longs

#VXXgame My first purchase of puts: Bought to open $UVXY April 17th 20 puts for 1.39. I screwed up on my order, this can be gotten for less.

Unknown's avatar fuzzballl 7:43 am on Friday, March 6, 2020
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UVXY

#BearCallSpreads – First time in these strikes.

Sold UVXY JAN 17 2021 45.0/55.0 Bear Call Spreads @ 2.01

Unknown's avatar fuzzballl 7:31 am on Friday, March 6, 2020
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UVXY

#ShortPuts – Rolled the rest of my short puts up and in right at the close yesterday. Completely out of all them now. I did have to buy stock pre-market to cover the DITM calls I had sold yesterday against the short puts. Basically traded all the annoying short puts that were tough to sell against for a half size covered call position.

Not seeing a reverse split coming anytime soon so should have many weeks to sell.

Bought to Close UVXY MAR 6 2020 26.5 Puts @ .05 (sold a long time ago for 1.05)
Bought to Close UVXY MAR 6 2020 31.5 Puts @ .35 (sold a long time ago for 1.00)

Unknown's avatar Jeff 6:56 am on Friday, March 6, 2020
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UVXY adding

#VXXgame Sold to Open $UVXY March 20th 40 calls for 5.50. Against a higher number of March 25 and 35 longs.

Unknown's avatar Jeff 6:49 am on Friday, March 6, 2020
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DRIP again

#ContangoETFs This was just too much to resist. I need to get back the losses I took by exiting last week.

Sold $DRIP March 20th 335 calls for 27.00.

Unknown's avatar fuzzballl 6:43 am on Friday, March 6, 2020
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SPY

#ShortPuts – Scaling in. Any of these should be very easy to roll if I decide I don’t want the stock. Next target will be April 225 for over 5 bucks.

Sold SPY APR 17 2020 250.0 Put @5.20

Unknown's avatar Jeff 5:33 am on Friday, March 6, 2020
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February Jobs Report

#Jobs — beating expectations again

+273,000 non-farm payroll jobs, vs. 175K expected
Unemployment at 3.5%, down by 0.1%
U6 unemployment at 7.0%, up by 0.1%
Wages up 0.3%; +3.0% year over year
Labor force participation 63.4%, unchanged

January revised up from 225K to 273K
December revised up from 147K to 184K