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, I welcome your feedback or comments on that site or on the Posts I make on this site!

The Pick


AAL 03/06/2020 16.50 Covered Call
ADS 03/06/2020 76.00 Covered Call
SLB 03/06/2020 32.50 Covered Calls
CF 03/06/2020 36.00 Puts – rolled down to these last week.

TSLA 03/06/2020 460.00 Covered Call – entered this position Monday.
UVXY 03/06/2020 13.00 Covered Call

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.


#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)

OXY ITM Covered Call + Divvy

Bought 100 OXY / Sold 1 OXY 03/13/2020 26.50 Call @ 25.46 Debit with the stock at 26.87.
In addition, the stock goes Ex-Dividend Monday 03/09/2020 for 0.79.

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.


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

VIX breakout

Going to new heights, folks.


#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


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.