#coveredcalls
$MRVL BTC 4/24 24 call and STO 5/8 26 call at .67 debit
$TQQQ BTC 5/1 57 call and STO 5/15 60 call at .30 debit
#shortputs
$SLB BTC 4/17 13 put at .20. STO 3/27 at 1.30
$T STO 5/15 28 put at .75
$TQQQ STO 6/19 35 put at 2.35 Thank you @jsd501
Apr 17 $230 to May 15 $240 Debit $2.30. IHI at $248.16 when written.
#ShortPuts – Decent one day scalp. Selling Friday a couple strikes lower…
Bought to Close SPY APR 15 2020 275.0 Puts @ .03 (sold for 1.00)
Sold SPY APR 17 2020 273.0 Puts @ 1.75
Rolled Apr 17 $260 Call to May 15 $260 Call for $12.10 Credit. Stock is up $11+ at $292. Don’t want to roll up. Earnings 4/28. Tend to be very volatile and I have been burned at earnings. Large long term capital gain on the stock and don’t want it called away.
#Earnings #JadeLizards – A big enough pullback is not looking likely saw hitting the eject button with beer money. Hey that’s 2 cases of Silver Bullets if I catch it on sale!
Bought to Close GS APR 17 2020 165.0/175.0/177.5 Jade Lizards @ 2.40 (sold for 2.55)
Occidental to Pay Warren Buffett’s Berkshire a Stock Premium to Conserve Cash
In an effort to conserve cash at a time of ultralow oil prices, Occidental Petroleum is paying the dividend on Berkshire Hathaway’s $10 billion preferred stock stake in common shares and not in cash, according to a filing early Wednesday.
Occidental (ticker: OXY) will issue 17,274,130 shares to Warren Buffett’s Berkshire (BRK.A), a move that will be nearly 2% dilutive. Occidental is effectively paying Berkshire a premium to save $200 million in cash.
(Note: Berkshire immediately sold that stock dividend and turned it into $CASH – I guess it’s too early to bottom fish)
#CoveredCalls – Another small roll up into the week before earnings.
Rolled SPCE APR 24 2020 15.0 Calls to MAY 1 2020 15.5 Calls @ .05 debit (stock basis 14.45)
https://www.bizjournals.com/cincinnati/news/2020/04/15/fifth-third-u-s-bank-other-banks-sites-go-down-due.html
On March 23, Gov. Gavin Newsom made a dramatic announcement: Tesla founder Elon Musk was donating over 1,000 ventilators to California.
It seemed like miraculous news at a moment when the state was desperately searching for ventilators to help save critical coronavirus patients. But was it true?
Newsom’s office now says Musk was supposed to deliver the ventilators directly to hospitals. So far, however, the governor’s office says no California hospital has received them.
https://www.sacbee.com/opinion/editorials/article241982586.html
#shortputs XOM
Sold May 1, 35 put for .67 XOM around 40
#ShortPuts – Booking XOP and re-deploying into a starter position in EWZ. Thanks @Ramie and @thomberg1201 !
Bought to Close XOP APR 17 2020 35.5 Puts @ .32 (sold for .88)
Sold EWZ MAY 15 2020 23.0 Put @ 1.08
Sold EWZ MAY 15 2020 24.0 Put @ 1.40
Sold EWZ MAY 15 2020 25.0 Put @ 1.78
EDIT:
Adding same strikes in June. Hoping to add to all of these eventually.
Sold EWZ JUN 19 2020 23.0 Put @ 1.73
Sold EWZ JUN 19 2020 24.0 Put @ 2.09
Sold EWZ JUN 19 2020 25.0 Put @ 2.53
Bought to close $XOP 5/15 53 calls @ .24. Sold for 1.12 on 4/9. They were paired as a short strangle with 5/15 35 puts which I am still short.
#shortputs EWZ
Sold May 1, 22 put @.57, EWZ around 24.80
STO June 35 puts at 2.26
STO June 30 puts at 1.47
#ShortPuts – Adding one to yesterday’s starter…
Sold XBI MAY 15 2020 75.0 Puts @ 1.50
#ShortPuts – Sold SPY APR 15 2020 275.0 Puts @ 1.00
Options Bistro 