TQQQ Puts Closed

#shortputs
$TQQQ BTC 9/18 40 put at .05. STO at 1.72. Thank you @jsd501

TSLA

Crazy town again – today’s move equivalent to 278 points on the old stock.
On my watch list, only TSLA and /NQ futures, WDC and every VIX related stock index or future is up.
Everything else down.

Anther new high for S&P500 although it reversed into the red at the end.
Seven straight days with new all time highs

ZM Earnings IC

#earnings #ironcondor
$ZM STO 9/4 270/280/370/360 IC at 3.05

TSLA

#ShortStrangles – Rolling up the put side slightly…

Rolled TSLA SEP 4 2020 300.0 Puts to SEP 4 2020 350.0 Puts @ .93 credit (12.25 total now based on pre-split)

EWZ

#ShortPuts – Completely out of this now for the first time in quite awhile. Watching for a re-entry…

Bought to Close EWZ SEP 4 2020 28.5 Puts @ .17 (sold for .64)

#closing and #coveredcalls COF Aug….

#closing and #coveredcalls
COF Aug. 19 sold 57.50/75 #shortstrangles for 1.67, bought today for 1.22
CC sold Sept. 4, 21 covered call for .43

NVDA

#ShortPuts – Rolling this one up again for additional credit. Selling at the 20ma and the current expected move. We’ll call it a possible #TakeOneForTheTeam …..

Rolled NVDA SEP 18 2020 450.0 Put to SEP 18 2020 490.0 Put @ 4.70 credit (11.75 total now)

VIX & markets


In fact as the S&P hits all-time-highs, this is a level of VIX that has not been seen since those heady days of extreme speculation and retail day-trading muppetry. This is a very different regime of ‘walls of worry’ that we saw during the 2017/2018 all-time-highs…
This level of co-movement between VIX and stocks is highly unusual – and has typically not ended well for stocks. Except this time is even more extreme, as the correlation between stocks and vol is at its highest since the collapse of XIV and Volmageddon 2018…

2020-08-31_7-47-50

https://www.zerohedge.com/markets/last-time-happened-was-day-dot-com-bubble-burst

BA

#CallsInsteadOfStock

BA @ $171.90

BTO BA Dec 18 $160 / $190 Long Call Vertical @ $12.20 (position $11.90 ITM at kick-off)

STO BA Sep 18 $165/$160 Bull Put Spread @ $1.79 (half sale).

TRADES:

VMW BTO STOCK a teeny bit @147.08
CC STO 9/4/20 ITM 21.5 PUTS @.88
WKHS STO 9/4/20 19.0 CALLS @.56
WKHS STO 9/4/20 19.0 CALLS @1.00

OK, the site is working…

OK, the site is working for me now. No need to answer my query. Thank you

TQQQ

BTC September 4, 65 puts at .01 and that is all this week.

NFLX

#ShortStrangles – Selling at about 2x the expected move…

Sold NFLX SEP 18 2020 440.0/640.0 Strangle @ 3.60

NFLX

#ShortPuts – Staying small and short term…

Sold NFLX SEP 18 2020 450.0 Put @ 2.85

FSLY

#ShortPuts – A couple starters…

Sold FSLY SEP 18 2020 75.0 Put @ 2.20
Sold FSLY SEP 18 2020 70.0 Put @ 1.20

PFE

#CoveredStrangle

BTO PFE @ $37.73

STO Oct 02; $35 / $40 strangle @ $0.73

Happy to double down @ $35 and then sell calls.

ZM earnings analysis

#Earnings $ZM reports tonight. Below are details on earnings one-day moves over its entire history.

June 2, 2020 AC +7.58%
March 4, 2020 AC +7.02%
Dec. 5, 2019 AC -9.94%
Sept. 6, 2019 BO -7.85%
June 6, 2019 AC +18.40%

Avg (+ or -) 10.16%
Bias 3.04%, positive bias on earnings.

With stock at 305.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 267.52 to 342.48 (+/- 12.3%)
Based on AVERAGE one-day move over last 5 quarters: 274.02 to 335.98
Based on MAXIMUM one-day move over last 12 Q’s (18.4%): 248.88 to 361.12
Based on DOWN max only (-9.9%): 274.68

NOTE: 5-day results show reversals into the negative for the last two quarters!

Open to requests for other symbols.

VXX Calls

Sold 1 VXX Sep 04 2020 30.00 Call at $0.47
Sold 1 VXX Sep 04 2020 30.50 Call at $0.43
Sold 1 VXX Sep 04 2020 31.00 Call at $0.39
Sold 1 VXX Sep 04 2020 32.00 Call at $0.33
Holding Long VXX October and November calls as a hedge

VXX

New Diagonal Call spread
Bought Open VXX Oct 16 2020 65 Calls / Sold VXX Sep 04 2020 27.5 Calls @ 0.03 Credit.
It’s not about how much you make in the first week of the diagonal spread, it’s how much you can make with re-writes.

SPX 7

#SPX7dteLong Bought to Open $SPX Sept 4th 3480/3500-3510/3530 condors for 15.90, with SPX at 3506.

TSLA

Tesla ‘Losing Ground’ In Europe’s Biggest EV Market As July Registrations Crash

“Tesla posted a 76% decline…”

https://www.zerohedge.com/markets/tesla-losing-ground-europes-biggest-ev-market-july-registrations-crash

Expiration

#optionsexpiration
$MRVL 36 put
$CLDR 12.50 put
$NIO 18.50 Put
$NVAX 117 call

Have a nice weekend all. Be safe. Storms, fires and politicians abound. Be careful.

OptionsExpiration

Expired:
AAL 08/28/2020 15.0 Diagonal Calls
ADS 08/28/2020 55.0 Covered Call
MRO 08/28/2020 6.50 Covered Calls
WBA 08/28/2020 40.0 Covered Call
WBA 08/28/2020 42.0 Covered Calls
WFC 08/28/2020 25.0 Covered Call
VXX 08/28/2020 26.0 Diagonal Calls
VXX 08/28/2020 27.0 Diagonal Calls
VXX 08/28/2020 27.5 Diagonal Calls

VXX 08/28/2020 24.0 Diagonal Puts
VXX 08/28/2020 23.5 Diagonal Puts
VXX 08/28/2020 23.0 Diagonal Puts

Assignments:
None

SPY Rolling LEAP

#longcalls
$SPY BTC 1/212/2022 240 call and BTO 1/21/2022 330 call for 101.06 credit. If world going to end soon, I’ll need spending money. 😉

SPX trades and expirations

#SPX1dte Sold to Open $SPX Aug 31st 3425/3445-3555/3575 condors for .95, IV 10.16%, SPX 3507, deltas -.07, +.06.

Expiring: Aug 28th 3400/3420-3550/3570 condors , sold yesterday for .90.

#Supercharger expiring: $SPX Aug 28th 3400/3425 call spreads for max credit of 20.00, bought yesterday for 18.80.

#Earnings Expired at full loss: $ANF 10.5 puts, bought Wednesday for .85.

Rolling SPX

I know I said I was only going to roll this once but I guess I can’t stay away from the roll game. Let’s see what happens with this. Extending the trade to 9/4.
Rolled 9/2 3375/3400/3505/3520 iron condor out to 9/4 3410/3435/3520/3545 for .15 credit. Short puts 20 delta short calls 42 delta.

EXPIRATION FRIDAY: All expired worthless, except as noted:

KODK 7.0 CALLS STO @.70
KODK 8.0 CALLS STO @.67
KODK 9.0 CALLS STO @.54
OSTK 102.0 CALL STO @6.03
OSTK 105.0 CALL STO @5.00
OSTK 118.0 CALL STO @4.00
OSTK 120.0 CALL STO @6.00
OSTK 125.0 CALL STO @6.70
OSTK 130.0 CALL STO @7.10
CC STO 21.5 PUTS @1.74 BTC @.60
CC STO 22.5 PUTS @2.26 BTC @1.05
TRADES: I’m putting trades I made here after I did expiration.
CZR STO 9/4/20 51.0 CALL .90
VMW STO 9/4/20 150.0 CALL @1.85
CONNECTION TO THE SERVER HAS BEEN DISCONNECTED, SO THE MESSAGE ON THE SCREEN SAYS, SO I AM SENDING THIS OUT EARLY IF IT GOES. Have a safe and great weekend everybody.

SPY

BTC 280/300 put spread at .50, sold at 1.02

SPX 7-dte

#SPX7dteLong Sold to close $SPX Aug 31st 3445/3465 call spreads for 18.75. Condors bought for 15.30 on Tuesday. Will look to sell the put side for a buck or less or keep it as a hedge. But it seems hedges are no longer necessary. We are never going down again, ever.

TSLA

#ShortStrangles – Going back in. Riding alongside @OptionIceman

Sold TSLA SEP 4 2020 1500.0/3400.0 Strangle @ 7.60

SPY

Ignoring the pre/post market moves, we just got another new high in the SPY. Six day run with new highs every day.

The VIX has dropped 3 points since 11 AM

AAL Covered Call

Bought to close 1 AAL 08/28/2020 14.0 Covered Call / Sold 1 AAL 09/04/2020 14.0 Covered Call @ 0.46 Credit

TSLA – into the split

Bought to close TSLA Aug 28 2020 2500/2700 Bear Call Spread @ 0.05. Sold 2 days ago @ 2.10

Replaced it with TSLA Sep 04 2020 2800/3000 Bear Call Spread @ 7.60 Credit

I have no idea what the stock does after the split but my short for next week is 300 points above the short for this week. (this week’s move low to high was about 375 points and peaked at 2318.49)

Stock is 2220

TRADES:

THC STO 9/4/20 29.5 CALLS @.40
THC STO 9/4/20 25.5 PUTS @.25
CC STO 9/11/20 22.0 CALLS @.38
VMW BTO STOCK @146.17
OSTK STO 9/4/20 110.CALLS @5.60/BTC @4.00 Volatility chased me out.
CZR BTO STOCK @49.11
THC STO 9/4/20 25.5 PUTS @.25

SPCE

#CoveredCalls – Rolling…

Rolled SPCE AUG 28 2020 15.0 Calls to SEP 18 2020 15.0 Calls @ .43 credit

UVXY

#CoveredCalls #Shortputs – Rolling and adding…

Rolled UVXY AUG 28 2020 19.0 Calls to SEP 11 2020 20.0 Calls @ .25 credit
Sold UVXY SEP 4 2020 20.0 Puts @ .72

WDC

I should have waited one more day rolling my short 37 Puts 😦
At least I own some stock 🙂

Bought to close WDC 08/28/2020 37.0 Covered Calls / Sold WDC 09/04/2020 38.0 Covered Calls @ 0.22 Credit Plus a point higher on the strike price

KSS Roll

Bought to close KSS 08/28/2020 23.0 Covered Calls / Sold KSS 09/04/2020 24.0 Covered Calls @ 0.12 Credit plus a point higher strike.
KSS is recovering from it’s swoon after earnings.

AAL Roll

Bought to close AAL 08/28/2020 14.50 Diagonal Calls / Sold AAL 09/04/2020 15.50 Diagonal Calls @ 0.15 Credit plus a point higher strike

DOCU BUPS Closed

$DOCU BTC 8/28 210/220 BUPS at 1.20. Thank you @ramie77. Roll up original 8/21 150/160 BUPS to 175/185 at 1.29 extra credit. Rolled to 210/220 for added 3.95 credit. Total credits after close is 5.57. Thanks @ramie77 for teaching me how you roll.

VXX

And so it begins
My VXX November Calls are all up (between 38% and 66%) above my cost.
Let the November madness do it’s work

480206

https://www.zerohedge.com/markets/correction-watch-divergences-are-developing-between-large-us-stocks-everything-else

#fallingknifeDLTR STO DLTR Jade Liz…

#fallingknifeDLTR
STO DLTR Jade Liz
2 Oct 90/98/99 for 2.18

PTON

Buy/Write PTON Sep-18-2020 80 #CoveredCall @70. Stock @75.77.

TSLA spread – What are they smoking?

With only hours to go before expiration my 2500/2700 BCS still is trading @ 1.85
Stock is 2305

SPLK ULTA WDAY Earnings wrap up

#JadeLizards #IronFlies – Should’ve sold ITM puts on all of these…LOL No upside risk at least paying off a little.

SPLK Lizard closed call side for slightly better than max loss put side expires (.45 gain)
WDAY Lizard expiring (gain .72)
ULTA Iron Fly call side closed for less than max loss put side expires (lottery ticket .70 loss)

3 cases of the Silver Bullets!

Assigned on BAX Covered Calls, Profit $3,325 in 82 days, 3.8% or 17% annualized.

JEFFLSMITH ~ EDIT”ASSIGNED ON BAX COVERED CALLS, PROFIT $3,325 IN 82 DAYS, 3.8% OR 17% ANNUALIZED.”

Baxter had a nice jump in stock price the last couple of days closing at over $86 yesterday. We were short Aug 28 $83 and $83.50 calls. Plans were to roll the options up and out (diagonal) today and hope the upward momentum continued. Stock goes Exdiv today with a dividend of $.245 which we intended to capture. Made a mistake not rolling up to “out of the money” strike price yesterday and lost the dividend ($367) as a result.

We may replace the position today. Baxter doesn’t have the volatility (lower return on covered calls) but it pays a solid dividend and is a good core healthcare holding.

#assigned-2, #bax, #coveredcalls-2, #bax-2

WDC

Highest close in 8 trading days.
Rolled my WDC 08/28/2020 37.0 Puts to WDC 09/04/2020 37.0 Puts @ 0.17 Credit

Econ Calendar for week of 8/31/2020

#Jobs report on Friday.

Presentation2
Presentation2

Link to calendar: https://research.investors.com/economic-calendar/

Last TRADE:

VIAC STO 9/4/20 29.0 CALLS @.50

SPX 1-dte

#SPX1dte Sold to Open $SPX 3400/3420-3550/3570 condors for .90, IV 16.37%, SPX 3497, deltas -.06,+.06.

My put side are the same strikes as my #Supercharger bought earlier. Of course, call Superchargers have the exact same profile and risk as Put credit spreads. So I’m doubled up on the down side risk.

#spx7dtelong

ULTA Earnings Lottery Ticket

#IronFlies #Earnings #LotteryTickets – Taking a low risk high reward shot. Risk 85 to make 665. Need a slightly less than half the expected move.

Sold ULTA AUG 28 2020 212.5/220.0/227.5 Iron Fly @ 6.65

OSTK

#JadeLizards – Not sure why premium is so high in this but I’ll take a shot at a Lizard for next week. Considered the naked strangle but I prefer the no risk upside here.

Sold OSTK SEP 4 2020 85.0/110.0/112.0 Jade Lizard @ 3.25

SPX 7-dte

#SPX7dteLong Bought to Open $SPX Sept 2nd 3460/3480-3490/3510 condors for 16.45, with SPX at 3483. The price on these went up about a buck after the VIX spike. It was in the mid-15’s this morning.

OSTK

#ShortPuts – First time in this one. Selling down close to the 50ma.

Sold OSTK SEP 18 2020 75.0 Put @ 4.10

VXX – the beauty of diagonal puts

So the long puts I buy as part of the diagonal put spreads I have been setting up for months have been written against multiple times, but this week looks like a big winner for this strategy:
Just some examples:
Long 2 Jan 15 2021 12.00 Puts @ 58.29 while being short 2 Aug 28 2020 23.00 Puts @ 58.62
Long 2 Jan 15 2021 13.00 Puts @ 106.38 while being short 2 Aug 28 2020 24.00 Puts @ 123.43
Long 1 Jan 15 2021 14.00 Put @ 55.69 while being short 1 Aug 28 2020 24.00 Put @ 61.71
Long 2 Jan 15 2021 15.00 Puts @ 141.38 while being short 2 Aug 28 2020 24.00 Puts @ 123.43
Long 2 Jan 15 2021 16.00 Puts @ 163.38 while being short 2 Aug 28 2020 24.00 Puts @ 123.43

As you can see, this week’s short puts pretty much cover the costs of the long positions yet again. #DoubleDip
The real beauty is that the short positions are gone tomorrow, but the longs are still there until January.
Contango losses in VXX have recently been about a point per week, except for the occasional spikes like we are seeing in the last two days.
It’s entirely possible that eventually, the long position go in the money before expiration.

TQQQ

#ShortPuts – Starter…hoping to get a chance to add. Selling outside the expected move and below the 50ma.

Sold TQQQ SEP 18 2020 115.0 Put @ 2.75

VIX

a bit more strength on the VIX and the upside warning will be cancelled
High 27.09 so far, up 15%

TRADES:

OSTK STO 9/4/20 102.0 CALL @6.03
OSTK STO 9/4/20 105.0 CALL @5.00

TRADES:

LCA STO 9/18/20 15.0 PUTS @1.23
LCA STO 9/18/20 15.0 CALLS @1.40
THC STO 9/4/20 29.0 CALLS @.50

ROKU

#ShortPuts – Another one near all time highs. Taking it off 3 weeks early…

Bought to Close ROKU SEP 18 2020 125.0 Put @ .50 (sold for 2.80)

WDAY Earnings

#JadeLizards #Earnings – Probably should just sell the put since stocks only go up. Still going with the Lizard but a little less in the money on the call side.

Sold WDAY AUG 28 2020 197.5/215.0/217.5 Jade Lizard @ 3.22

WSM

Been sitting on a Sep 18 $100/$110 call credit spread sold for $2.14 credit, waiting patiently to fill the put credit spread when(if) WSM pulls back after its insane run up since March (3x) and latterly into earnings. The tyres were kicked last night and found wanting – just the opportunity to take the Sep 18 $85/$75 put credit spread sold for $1.14 – so credit of $3.28 for the Iron Condor.

#ironcondor

VIX SPY

It’s getting a bit crazy again.
SPY sets a new all time high (almost to 350) and then reverses a bit back to unchanged.
However, the VIX explodes from 22.85 to 24.28 in just 20 minutes.

Something is going on under the surface but I don’t know what.
Algos at work?

FB

#ShortPuts – I’ve been kinda overlooking this one. Mentioned this morning on tastytrade for it’s IV rank. Selling slightly inside the expected move for once.

Sold FB SEP 18 2020 270.0 Put @ 4.05

TRADES:

KODK STO 9/4/20 6.0 CALLS @.70
KODK STO 9/4/20 6.0 PUTS @.70

SPXtra

#SPX1dte Bought to Open $SPX Aug 28th 3400/3420 call spreads for 18.80, with SPX at 3482. This is a result of mistakenly entering the wrong strikes on a spread… but then I saw that I could make over a buck in one day, pretty much a no-brainer to buy it.

#supercharger

#shortputs #closing VIAV Bought to…

#shortputs #closing VIAC

Bought to close Sept. 18, 25 put for .36, sold Aug. 20 for .88

SPX 1-dte

#SPX1dte Rolled the dice on a favorable close and lost. Condors sold for .90, ITM expiration costs me 8.93.

I’m probably going to sell an aggressive call spread soon, but imma wait for now.

Rolling SPX iron condor

Well that was fun. My timing couldn’t have been better for all you folks looking to fade my moves. If you missed it, pay better attention next time 😉

I will do one roll of this then I’m probably done. I spent way too much time in rollout hell the last couple of years with these positions and I’m not keen on getting back into that game. But for now:
Rolled 8/28 3355/3380//3485/3510 iron condor out to 9/2 3375/3400//3505/3530 for .20 credit. Short puts 19 delta, short calls 36 delta. In exchange for the upside room I have donated 3 more days to the trade. Let’s see if we can’t get a little 20-30 point pull back in the SPX.

IBB – Parking Cash

#DiagonalButterfly

BTO IBB Jan 2022 : long strangle $115 call / $150 put @ $53.74
STO IBB Aug 28: $133 straddle @ $5.34

Excess premium bought $53.74 – $35 = $18.74, so hunting down that amount through straddle / strangle sales until Jan 2022. I setup the original trade on 18 August.

With IBB hovering around the $133 strike and 2 DTE, thought I’d drive the rolling process, rather than be driven – so rolled early:

BTC Aug 28: $133 straddle @ $2.30 (originally sold for $5.34)

STO Sep 04: $133 straddle for $3.94.

VXX

Sold 1 VXX 08/28/2020 26.0 Diagonal Call @ 0.21
Sold 2 VXX 08/28/2020 27.0 Diagonal Calls @ 0.13

Creating Short Calendar Iron Condor Spreads to help balance out a lot of short Puts.
Sold the Calls against already long November Calls.
Hoping to keep VXX above 24 through Friday.

I would add to these if higher prices come along tomorrow.

VIX shooting higher

…as the indices reach unreal heights. I left my desk for a couple hours this morning after the open was pretty calm. As it turned out, the SPX rose steadily the whole time I was away, so when I returned my short call had been hit. Tried to stop out but was not filled, not getting deep ITM. Missed my stop point so I’m without oars at the moment.

TSLA

#BullPutSpreads – Bought to Close TSLA AUG 28 2020 1300.0/1000.0 BuPS @ .06 (sold for 2.40)

SPLK Earnings

#JadeLizards #Earnings – In a different account playing the ‘ol reliable downside Lizard. Breakeven near recent lows with no upside risk.

Sold SPLK AUG 28 2020 190.0/205.0/207.5 Jade Lizard @ 2.55

TSLA

Another new all time high @ 2166

Sold 1 TSLA 08/28/2020 2500 Call / Bought 1 TSLA 08/28/2020 2700 Call @ 2.10 Credit.

2 days to expiration