#OptionsExpiration – Almost all stock called away at 230 with about a 217.50 basis. Fresh box of ammo for tomorrow now.
Daily Archives: Wednesday, March 25, 2020
SPXpire
#SPX1dte Expiring: $SPX March 24th 2210/2230-2655/2675 condors, sold yesterday for 1.80.
So much for today’s rally?
Stocks tumble into the close after Bernie Sanders threatens to put a hold on the coronavirus stimulus bill; Nasdaq turns negative and Dow up only 480 points after surging 1,300 earlier https://t.co/kumM5Z3mLD pic.twitter.com/tw7O9qsyCw
— CNBC Now (@CNBCnow) March 25, 2020
SPY
#CoveredCalls – Sold this one below my basis so making a small roll. VIX 60 makes these a lot easier!
Rolled SPY MAR 25 2020 245.0 Call to MAR 27 2020 250.0 Call @ .20 credit
SPY
#ShortPuts – Buying back the one sold this morning to have more ammo for the next round of selling…
Bought to Close SPY MAR 27 2020 230.0 Put @ 1.30 (sold for 2.90)
AAPL put spread
Sold $AAPL 4/17 220/210 bull put spread @ 1.78
SPCE SPY TNA XBI
#ShortPuts #LongPuts – A few early ones. Prices even better now.
SPCE: Nice gains on disaster puts applied to stock basis. Doesn’t look like it’s going to zero anymore.
Sold 20 SPCE JUL 17 2020 5.0 Puts @ .45 (bought for .10)
SPY: Stock should get called away today at 230.0 so starting a Friday position. Possibly add more after the (un) employment report.
Sold to Open SPY MAR 27 2020 230.0 Put @ 2.90
TNA: Trying to add at pretty low risk. Cuts basis of shares almost in half for easier recovery.
Sold TNA MAR 27 2020 16.0 Put @ 2.10
XBI: Roll up for more credit.
Rolled XBI APR 17 2020 60.0 Puts to APR 17 2020 65.0 Puts @ .75 credit (2.55 total now)
Hey, anyone remember earnings trades?
#Earnings $MU reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
Dec. 18, 2019 AC +2.80%
Sept. 26, 2019 AC -11.09% Biggest DOWN
June 25, 2019 AC +13.34% Biggest UP
March 20, 2019 AC +9.61%
Dec. 18, 2018 AC -7.91%
Sept. 20, 2018 AC -2.86%
June 20, 2018 AC +0.83%
March 22, 2018 AC -7.99%
Dec. 19, 2017 AC +4.02%
Sept. 26, 2017 AC +8.51%
June 29, 2017 AC -5.11%
March 23, 2017 AC +7.40%
Avg (+ or -) 6.79%
Bias 0.96%, positive bias on earnings.
With stock at 41.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 35.64 to 46.36
Based on AVERAGE one-day move over last 12 quarters: 38.22 to 43.78
Based on MAXIMUM one-day move over last 12 Q’s (13.3%): 35.53 to 46.47
Based on DOWN max only (-11.1%): 36.45
Open to requests for other symbols.
Options Bistro 