#SPX1dte Sold $SPX 2170/2190-2635/2655 condors for 1.85. IV: 84.2%, SPX 2406, deltas: -.07, +.06. OTM: -9.0% and +9.5%.
Couldn’t have picked a better outcome for my monthly condor put on this morning… placed the trade when we were flat on the day ended as close to flat as we can expect in this market. So I’m leaving the trade to settle in the morning as I do not fear +9% gaps.
As a follow up to my first post from 2/25 (linked here: https://wp.me/p6Nxuc-i5m), gap opens over 2% have continued to happen frequently after their nearly 6-year absence. Here are the ones we have had thus far.
From Left to right: Gap Open each day / Date (if over 2%) / SPX move at the close
You may have heard about this but this drug, but there are more and more articles about its effectiveness against Covid-19. China and South Korea are using it now with great results. Combined with an antibiotic, it is reducing the sick time for those infected from a couple of weeks to a few days. It can be mass produced. Promising.
https://www.google.com/amp/s/nypost.com/2020/03/19/old-malaria-drug-hydroxychloroquine-may-help-cure-coronavirus-study/amp/
STO April 17, 70 calls at .57 cents
STO June 160 put at 7.70
I’ve been early on buying SVXY. I bought 20 shares today at 26.26 giving me 55 shares with a basis of 32.94. I thought 39 was a good price on March 10.
STO April 17, 70 calls at .47
Bought 100 NUGT / Sold 1 NUGT 03/27/2020 10.00 Covered Call @ 5.00 debit.
#shortputspread BA
Sold May 15, 50/60 put spread for 3.30
And …. it begins
A day after the Big 3 shutdown factories amid the virus lockdown, Ford is out with a kitchen sink 8K as it braces to ride out the worsening economic situation in the US (and worldwide):
$15.4 billion of additional cash on balance sheet, drawing from two credit lines
Dividend suspension to preserve cash and provide additional flexibility in the current environment
Withdrawal of company guidance for 2020 financial performance
#shortputs SLV
Sold May 15, 11 put for 1.31 #tastytradefollow
#rolling GUSH
High stakes trading-rolled my March 20, 1 put to April 17 for .05.
Bought 4/9 100 puts @ 25.00
#SPX1dte Sold to Open $SPX March 19th 2125/2150-2575/2600 condors for 2.20. These are MONTHLY contracts that stop trading tonight, but settle at the open tomorrow. I will need to decide at the close today whether to close or allow to expire in the morning, risking a gap open that could breach my strikes. Because of the funky expiration on these, I have avoided them for this strategy, but with SPX flat at the moment and juicy premium available, it’s worth the risk this time.
IV: 109.60%, SPX: 2400, deltas: -.06, +.06. OTM: -10.4%, +7.3%
Options Bistro 