#SPX1dte Sold to Open $SPX Mar 16th 2380/2400-2930/2950 condors for 1.60. IV: 67%, SPX (close) 2710, deltas: -.06, +.04. OTM: -11.4% and +8.1%.
Expiring: March 13th 2175/2200-2750/2775 condors, sold yesterday for 2.50.
Monthly Archives: March 2020
DIS short puts
Sold $DIS 4/17 90 puts @ 7.00
TQQQ closed
#LongLEAPs Sold to close $TQQQ Jan 2021 90 calls for 4.00. Bought yesterday for 3.65 (avg price). I believe I will get a better entry.
SPY
#ShortPuts – Let’s see if we can get to the Dec 2018 low on Monday…
Sold SPY MAR 16 2020 235.0 Put @ 3.00
A TRADE:
OXY STO 2/20/20 15.0 CALLS @.61
SPY
#ShortPuts – Sold this yesterday afternoon for a one day trade. Closing it before Trump’s statement…
Bought to Close SPY MAR 13 2020 245.0 Put @ .40 (sold for 3.00)
SLB again
#LongPuts – On second thought I’m only holding these long puts to protect in the event of a CH. 11 filing so booking profits and buying a bunch more cheapies that would get the position out at close to even if SLB disappears.
Rolled 10 SLB JUN 19 2020 17.5 Long Puts to 20 AUG 20 2020 5.0 Puts @ 1.96 credit (bought for .36)
I’ll apply all the long put profits to the basis in the stock…
SLB
#LongPuts – Bought a bunch of these a few weeks ago to protect some short puts with all the turmoil in the oil patch. Taking a little profit out but keeping plenty of protection.
Rolled SLB JUN 19 2020 17.5 Long Puts to JUN 19 2020 15.0 Puts @ 1.35 credit (bought for .36)
TRADES:
WORK STO 3/20/20 20.0 CALLS @.60
WFC STO 3/20/20 25.0 PUTS @.93 Trying to buy the stock a little cheaper, or keep the premium.
T
#ShortPuts – Haven’t been in this one in awhile. Selling week before earnings at an 8.3% divvy yield and a 10 year low.
Sold T APR 17 2020 26.0 Puts @ .97
TRADES:
CODX STO 3/20/20 17.5 CALLS @.70 and the 16.0 CALLS @.95
SPCE STO 3/20/20 16.0 CALLS @1.05
RAD STO 3/20/20 13.0 CALLS @.50
STNE STO 3/20/20 34.0 CALLS @.85
Econ Calendar for week of 3/16/19
#FOMC meeting and Press conference on Wednesday
Link to calendar: https://research.investors.com/economic-calendar/
UVXY short stock
#VXXgame Bought to close $UVXY short stock for 64.00. Assigned via 15 calls on Tuesday.
On this UP day I’m making moves to get shorter on the market. I do not believe anything’s going to get better before it gets worse.
UVXY 4/3
Sold $UVXY 4/3 75/85 bear call spread @ 2.22
UVXY 3/27
Sold $UVXY 3/27 80/90 bear call spread @ 1.77
SPCE
#CoveredCalls – Got a partial earlier in the week. Finally got the rest…
Bought to Close SPCE MAR 13 2020 17.0 Calls @ .05 (sold for 4.00)
Sold SPCE MAR 20 2020 14.0 Calls @ 1.95
NVDA SOXL
#CoveredCalls – Happily assigned stock a week early allowing some extra calls to be sold. SOXL is kinda scary being a leveraged could go much lower if things get crazy next week. I may end up selling it and replacing with some long term put spreads.
Sold NVDA MAR 20 2020 255.0 Call @ 3.40
Sold SOXL MAR 20 2020 140.0 Call @ 5.50
JDST
Assigned overnight on my JDST #coveredcalls @9.5. Small win, but nice to be on the + side. Basis was ~$8.79.
#fallingknife Couldn’t resist selling MSFT…
#fallingknife
Couldn’t resist selling MSFT Apr 3 105 puts for 1.35….will be much higher in the morning it looks like.
Support?
There certainly doesn’t seem to be any on the daily chart–moving averages, areas of prior support, pivot points, etc. Looking at the weekly chart, the low from the Q4 2018 mini-bear was 2,351.10 on Christmas Eve. If you think looking at that low is relevant 15 months later, that’s only around 166 points lower than where are are now. Another day like the down days we’ve had the last couple of weeks and we’re there.
VIX close, 4th highest since 1987
The VIX closed higher 3 times in Oct/Nov 2008 (highest close 80.86)
It closed higher 7 times in Oct/Nov 1987 (highest close 150.19)
SPX 1-dte
#SPX1dte Sold to Open $SPX March 13th 2175/2200-2750/2775 condors for 2.50. IV: 101.18%, SPX 2544, deltas -.05, +.07. (has shifted back to 06/06 since it filled). Width: 550.
Today’s drop in SPX was about 8%. These strikes are -13.0% and +8.3% OTM, and I got the highest premium I’ve ever gotten.
DRIP
The $DRIP March 20th 980 strike is going for 150.00. It expires in 6 trading days. Should I buy it or sell it?
#shortputs HTZ Bottom feeding Sold…
#shortputs HTZ
Bottom feeding Sold April 17, 4 put for .50.
TQQQ starter
#LongLEAPs Bought to open $TQQQ Jan 2021 90 calls for 4.00. Will add as price drops.
2% bounce in seconds
BREAKING: NY FED SAYS TO CONDUCT PURCHASES ACROSS RANGE OF MATURITIES
— Jonathan Ferro (@FerroTV) March 12, 2020
SPY
STO May 15, 180 put at 3.05, selling every 20 points will give me 1000 shares if we get down to zero.
VIX
67.97 who would have thunk it!!
SPCE
#CoveredCalls – Partials so far. (1 of 3)
Bought to Close SPCE MAR 13 2020 17.0 Call @ .05 (sold for 4.00)
Sold SPCE APR 17 2020 15.0 Call @ 2.25
#shortstock DENN September 20, 2018…
#shortstock DENN
September 20, 2018 I sold short 100 shares of DENN at 13.96, right about the time Denny’s started a rally to around 22. I was only able to sell a couple puts, not much option activity. I closed the position today at 11.75.
So there’s that!
SPY
#ShortPuts – Forgot I had this one in. Just seeing that it was filled at the open…
Sold SPY APR 17 2020 225.0 Put @ 8.62
Crazy!
I’m not doing much of anything. Selling some covered calls as I receive stock. Keeping the rest of the powder dry for now…
Direxion Announces Reverse Splits of Three ETFs | Direxion
Direxion has announced it will execute a reverse split of the issued and outstanding shares of the Direxion Daily Natural Gas Related Bull 3X Shares, Direxion
— Read on www.direxion.com/press-release/direxion-announces-reverse-splits-of-three-etfs
Futures dropping
Since Trump spoke they have been in freefall. I am guessing shutting off travel to Europe is not so great for the market.
SPXpire
#SPX1dte Expiring: $SPX March 11th 2660/2680-3010/3030 condors, sold yesterday for for 2.10.
#covered calls MRO Bought 100…
#covered calls MRO
Bought 100 shares and sold a March 20, 4 call for 3.52
#closing #ironcondor TSLA January 29,…
#closing #ironcondor TSLA
January 29, sold a March 20, 440/450/700/710 for 2.98-seemed like a good idea at the time. Bought today for 2.61.
I still need another 200 points down, no offense if you’re bullish.
#contangoetfs GUSH Down to .33….
#contangoetfs GUSH
Down to .33. Can it go to zero?
O.T.
I don’t get the feeling that we will get a rally this afternoon.
XLU
XLU has an IV of 51 and is yielding over 3%. A basket of utes with an IV like a tech stock? The 40 month EMA (54.08) or the middle BB on the monthly chart has been support since 2010. Adding to my existing long position. STO Apr17 57 put at 2.14.
UVXY rolling
#VXXGame. BTC $UVXY March 20th 40 short calls for 10.35. Sold for 5.50 on March 6th. Still have more longs than shorts, but I think I can roll this one up if I wait a few more days.
Also early assigned on a couple of March 20th 15 short calls; didn’t notice earlier or would have closed. Will look to close today and then resell when market goes lower, as I believe it will.
#contangoetfs GUSH If we liked…
#contangoetfs GUSH
If we liked GUSH yesterday, it’s down to .82 today.
TQQQ
Rolled the 55 puts from March 13, to April 17, 45 puts for a credit of 2.90
#shortputs M Bottom feeding sold…
Bottom feeding sold April 17, 8 put for .62.
SPX 1-dte
#SPX1dte Sold to Open $SPX March 11th 2660/2680-3010/3030 condors for 2.10, IV 55.97%, SPX 2870, deltas -.06, +.06.
#shortputs MRO Sold March 20,…
#shortputs MRO
Sold March 20, 4 put for .46
SVXY BUCS
#longstock SVXY I’m easing in…
#longstock SVXY
I’m easing in here, bought 25 shares, looking at some spreads.
TLT
#LongPuts – Selling against long Jan 2022 puts…
Sold TLT MAR 20 2020 151.0 Puts @ .40
EXAS
STO January 40 puts at 4.60 with stock at 62.90
UVXY
#BearCallSpreads – Weird. No fill on this yesterday but with UVXY down today it fills…
Sold UVXY JAN 17 2021 45.0/55.0 Bear Call Spread @ 2.30
#shortputs LK Sold March 20,…
#shortputs LK
Sold March 20, 30 put for .50, stock at 37.
GUSH shot
#ContangoETFs Bought to Open $GUSH Jan 2021 20 calls for .25. This may never make it back to 20 (a reverse split is probably imminent), but a cheap long shot that I will likely add to at lower strikes and more if there is a split.
Biggest drop since 2008
This time on a percentage basis… 7.6% on SPX. For a bigger drop you need to go back to Oct 2008.
Also, highest VIX close since January 2009.
VIX Closed Opened 3/15/20 Long…
VIX Closed
Opened 3/15/20 $35 Long Calls @ $1.50 on 3/2. Closed at the open this morning for $18.
Was a fishing trade early on in this mess.
T2108
Currently 4.70. Today’s low was 3.68.
Testing the waters with TLT
With $TLT now around its lows of the day, sold 3/20 180/185 bear call spread @ 1.20. Obviously it will be on a tight leash.
SPX closed
#SPX1dte BTC $SPX Mar 9th 2780/2860 put spreads for 7.20. Condors sold for 1.60 on Friday. Two Mondays ago I let it ride and ended up with a full loss. This week, I got out at a fat loss and I’m guessing it will expire worthless. Such a bad day!
SPCE
#CoveredCalls – Rolling down for additional credit this week.
Rolled SPCE MAR 13 2020 20.0 Calls to MAR 13 2020 17.0 Calls @ 1.30 credit (4.00 total now)
SPY
#ShortPuts – Going way out and down…
Sold SPY MAY 15 2020 225.0 Put @ 5.25
DRIP dropping
150 point swing so far
UVXY
Sold $UVXY March 20th 35 calls for 17.50. Bought for .31 on Jan 27th.
Some of these are my bright spots today. I have more longs than shorts so I can take profits on some of these. The rest is pretty ugly, mainly due to that stupid DRIP call I sold on Friday.
ROKU
Will be #CoveredCalls eventually – Sold ROKU MAR 13 2020 100.0 Calls @ 3.00
if this isn’t an appropriate…
if this isn’t an appropriate background, i will never know …
Saudis Plan Big Oil Output…
Saudis Plan Big Oil Output Hike, Beginning All-Out Price War.
How would this affect DRIP?
Saudi Arabia plans to increase oil output next month, going well above 10 million barrels a day, as the kingdom responds aggressively to the collapse of its OPEC+ alliance with Russia.
https://ca.finance.yahoo.com/news/saudis-plan-big-oil-output-225511711.html
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!
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.
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)
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.
TLT
IV is at 42, more like a tech stock. IV rank is 237. Speechless.
VIX breakout
Going to new heights, folks.
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
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.
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
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
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