Markets

Source: Bloomberg

Finally, just saying…

2020-07-20_12-32-00

SPX trades

#SPX7dteLong Bought to Open $SPX June 27th 3225/3245-3255/3275 condors for 16.75, with SPX close at 3251.

Expired with max 20.00 credit: June 20th 3190/3210 call spreads. Condors bought for 17.40 last Monday.

#SPX1dte #RiskReversal expired worthless, keeping .35 credit from Friday.

EWZ

ShortPuts – Bought to Close EWZ JUL 31 2020 27.5 Puts @ .06 (sold for .76)

Markets

If you are not in Tech this market sucks
Change in market cap year-to-date

Amazon +$561 billion
Apple +$365 billion
Microsoft +$335 billion
Tesla +$203 billion
Google +$112 billion

JPMorgan -$138 billion
Wells Fargo -$125 billion
Bank of America -$115 billion
Exxon Mobil -$111 billion
Berkshire Hathaway -$90 billion

This has sent Bloomberg’s Fear-Greed indicator to its highest ever – above March 2000’s previous peak – and as @C_Barraud notes that these highs contrasted with a plunge in March that produced record weekly lows, surpassing those in December 2018 and May 2000.

2020-07-20_12-09-26

CINF

BTC August 21, 50 puts at $0.30, sold at $2.00

Hat tip @optioniceman

TNA

#ShortPuts – A little bit of boredom and a little bit of hopefully #TakeOneForTheTeam

Sold TNA AUG 21 2020 20.0 Puts @ .61

SPY Rolls

Bought to close SPY 07/20/2020 305.0 Call / Sold SPY 07/27/2020 305.0 Call @ 0.25 Credit.

Bought to close SPY 07/20/2020 315.0 Call / Sold SPY 07/27/2020 316.0 Call @ 0.12 Credit plus an extra point on the strike/

SPY is just pennies away from it’s highest close since February, so we are overdue for a correction.
#SPYLadder

XLK DiagBFly

#DiagonalButterfly

BTO $XLK Jan 22: $90 call / $125 put long strangle @ $50
STO $XLK Aug 21: $110 short straddle @ $6.70

Minimum cash out value of the LEAP strangle is $35. Whatever happens I get to keep the $6.70 for the first (aggressive) sale of a straddle, so that leaves ($50 – $35 – $6.70) = $8.30 to finance over the next 550 days or $0.015 per day.

Given the volatility of the underlying it will be a roller coaster ride, but doable.

On this kind of trade I want to get the max premium out of the first sale (hence the straddle sale) – recognizing that an aggressive roll will be needed on one of the sides. For sure with XLK, future short term sales will be strangles not straddles.

T

#ShortPuts #Earnings – Earnings this week but not much premium. Going out to the monthlies and selling below the recent range. 8.3% divvy yield down there…

Sold T AUG 21 2020 28.5 Puts @ .52

#shortputs UNG Sold Aug. 21,…

#shortputs UNG

Sold Aug. 21, 9.50 put for .63

XBI

STO September 95 puts at 1.05

SOXL

BTC August 21, 55 puts at .05, sold at 2.90

LABU

#ShortPuts – Bought to Close LABU JUL 24 2020 47.5 Puts @ .08 (sold for 1.50)

VXX

Sold VXX 07/24/2020 28.50 Puts @ 0.36 with the stock at 30.15.
Sold against long 2021 and 2022 long Puts and replacing similar puts that expired Friday although at a lower strike.
#DoubleDip

SLB

Sold SLB 07/24/2020 20.50 Covered Calls @ 0.11 with the stock at 18.80.
#Earnings this week 07/24 BMO