#CoveredCalls – Not much today. Just sitting and enjoying the rally (EWZ especially!). For risk reduction letting some stock go…
SPY stock called away @ 295.0 (basis 291.90)
Assigned these on a 300 put that I sold at the beginning of the implosion. Happy to be out of it…
Bought to close AAL 05/29/2020 11.50 Covered Calls / Sold AAL 06/05/2020 12.00 Covered Calls @ 0.12 Credit Plus a 0.50 higher strike
Bought to close WBA 05/29/2020 40.50 Covered Call / Sold WBA 06/05/2020 41.00 Covered Call @ 0.12 Credit Plus a 0.50 higher strike. (This gets the strike above my entry cost on the stock)
Sold off a little more of my SPY @ $303.62 in after hours trading.
Bought this lot @ $250 on 3/12.
The average cost on my remaining SPY is @ $233.33/sh.
#SPX7dteLong Bought to Open $SPX June 3rd 2990/3010-3020/3040 condors for 17.25, with SPX at 3019.
I did not close the put side of today’s condor. It went as high as 7.00 but I decided to hold it to see if I could get more. I had made 1.60 on the trade so it was a conscious decision.
#SPX1dte expiring: May 27th 2905/2925-30503070 condors, sold yesterday for 1.00.
#shortputs APPN
Sold June 19, 50 put for 1.00
#Earnings $NTAP reports tonight. Options trades need to be placed today to capture any earnings move. Below are details on earnings one-day moves over the last 12 quarters.
Feb. 12, 2020 AC -9.27%
Nov. 13, 2019 AC +3.17%
Aug. 14, 2019 AC +3.93%
May 22, 2019 AC -8.10%
Feb. 13, 2019 AC -5.47%
Nov. 14, 2018 AC -11.72% Biggest DOWN
Aug. 15, 2018 AC -3.58%
May 23, 2018 AC +1.93%
Feb. 14, 2018 AC -4.89%
Nov. 15, 2017 AC +15.91% Biggest UP
Aug. 16, 2017 AC -6.72%
May 24, 2017 AC +3.53%
Avg (+ or -) 6.52%
Bias -1.77%, negative bias on earnings.
With stock at 45.40 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 42.28 to 48.52 (+/- 6.9%)
Based on AVERAGE one-day move over last 12 quarters: 42.44 to 48.36
Based on MAXIMUM one-day move over last 12 Q’s (15.9%): 38.18 to 52.62
Based on DOWN max only (-11.7%): 40.08
Open to requests for other symbols.
#closing FB BABA QQQ COF
FB Bought 242.50/245 #shortcallspreads for .48, sold May 22 for .83
BABA bought 170/175/230/235 #ironcondor for 1.10, sold May 22 for 1.37
QQQ bought 185/195/235/246 #ironcondor for 1.97, sold May 13 for 2.68
COF bought June 19, 50 put for .41, sold May 21 for 1.04 #shortputs
STO September 18, 45 put at 3.71
STO September 18, 50 put at 4.80
STO September 40 puts at 2.75
#closing #shortcallspreads DRIP
Bought 12 post split 14.59/51.42 June 19 call spreads for .01, sold as a 175/185 call spread on Feb. 25 for 2.08. I’ve been trying to close this for a few weeks. Thanks to you DRIP traders!
#SPX7dteLong In pre-market, GTC order filled: Bought to close $SPX May 27th 2980/3000 call spreads for 18.60. Condors sold last Wednesday for 17.00. Will sell put side early in the day.
Options Bistro 