#SPX7dteLong Expiring ITM: long $SPX Aug 24th 3395/3415 call spreads for max credit of 20.00. Bought for 15.05 last Tuesday.
#SPX1dte Expiring worthless: short Aug 24th 3320/3340-3440/3460 condors, sold Friday for .90.
Daily Archives: Monday, August 24, 2020
LAST TRADE:
OSTK STO 8/28/20 120.0 CALL @6.00
#coveredcalls #jadelizard MRO WBA AMD…
#coveredcalls #jadelizard MRO WBA AMD
MRO sold Sept. 18, 6 call for .17
WBA sold Sept. 4, 41.50 call for .28
AMD sold Sept. 18, 73/90/91 for 1.11 #tastytradefollow modification
Credit generation campaign
Short term straddle/strangle trades for cost reduction purposes on the corresponding long dated long strangles:
0.5 x EWZ Aug 28: $30 short straddle @ $1.20
0.5 x EWZ Aug 28: $29.5 / 30.5 short strangle @ $0.77 (is the $0.43 cushion versus the straddle sale any comfort?).
XLF Sep 04 $24.5 short straddle @ $0.90 – giving myself more time to adjust.
XLU Sep 04 $60 short straddle @ $1.53
Market makers playing hard to fill for the MDLZ strangle so I am closing that out and replacing with an IBB LEAP strangle.
SPX Risk Reversal
- a la RandomWalk (but not sure whether the name fits this type of trade!)
Combine a close to the money Broken Wing Put Butterfly (debit trade) with an OTM unbalanced 1 x 3 x 2 Call Butterfly (credit trade) adjusting the strikes of the two trades to place it for as close to zero cost as possible.
Sept 21 weeklies: 3420 / 3400 / 3385 Put Butterfly @ $2.55 debit
Sept 21 weeklies: 3500 / 3510 / 3520 unbalanced Call Butterfly (1 x 3 x 2) @ $2.39 credit
Only risk to the downside is the debit paid ($0.16). Upside breakeven is around 3514. Two profit peaks (bigger one @ $3400, smaller one close to $3500.
But it makes more sense looking at the risk profile:
TQQQ
BTC August 28, 60 puts at .01, sold at 1.20 and that is it for this week.
SPX 7-dte (5-dte, actually)
#SPX7dte Bought to open $SPX Aug 28th 3395/3415-3425/3445 condors for 15.25, with SPX at 3421.
PANW earnings analysis
#Earnings $PANW reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
May 21, 2020 AC +3.67%
Feb. 24, 2020 AC -17.01% Biggest DOWN
Nov. 25, 2019 AC -11.95%
Sept. 4, 2019 AC +5.76%
May 29, 2019 AC -5.11%
Feb. 26, 2019 AC +8.20%
Nov. 29, 2018 AC -1.76%
Sept. 6, 2018 AC +3.28%
June 4, 2018 BO -0.52%
Feb. 26, 2018 AC +2.31%
Nov. 20, 2017 AC +4.82%
Aug. 31, 2017 AC +10.53% Biggest UP
Avg (+ or -) 6.24%
Bias 0.19%, no significant bias on earnings.
With stock at 191.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 246.70 to 285.30 (+/- 7.3%)
Based on AVERAGE one-day move over last 12 quarters: 249.61 to 282.61
Based on MAXIMUM one-day move over last 12 Q’s (17.0%): 220.75 to 311.25
Based on UP max only (+10.5%): 294.01
Open to requests for other symbols.
TQQQ
In my IRA, BTC August 28, 60 puts at .01, sold at 1.15
TSLA Sep
Been hesitant to do this since getting in front of speeding trains is not my idea of fun. At least not anymore.
Sold $TSLA 9/18 2300/2350 bear call spread @ 10.00.
#earningsPANW Anyone looking at this?…
Anyone looking at this? Reports tonight.
AAPL TSLA split euphoria
AAPL new high at 515.98
TSLA new high at 2140
TRADES:
VIAC STC STOCK @27.40
OSTK STO 9/4/20 120.0 CALL @10.60
AAL ADS WBA WDC WFC Calls
Sold AAL 08/28/2020 14.0 Covered Call @ 0.09
Sold AAL 08/28/2020 14.50 Diagonal Calls @ 0.06
Sold ADC 08/28/2020 50.0 Covered Call @ 0.10
Sold WBA 08/28/2020 42.0 Covered Calls @ 0.07
Sold WDC 08/28/2020 37.0 Covered Calls @ 0.06
Sold WFC 08/28/2020 25.0 Covered Call @ 0.09
Pays for this week’s beer run 🙂
Also:
Bought ADS 10/16/2020 70.0 Calls / Sold ADS 09/04/2020 50.0 Calls @ 0.25 Credit
VXX New Diagonal and other puts sales
Bought VXX Jan 21 2022 6.0 Puts / Sold VXX Aug 28 2020 24.0 Puts @ 0.12 Credit.
Also sold these against similar long positions left over from earlier diagonals:
Sold VXX Aug 28 2020 23.50 Puts @ 0.53
Sold VXX Aug 28 2020 23.0 Puts @ 0.30
#DoubleDip
SPY bearish Diagonal
Sold 1 SPY Sep 18 2020 335.0 Call / Bought 1 SPY Oct 16 2020 345.0 Call @ 3.61 Credit.
If there is no market pullback in the next month I can do a weekly roll after that.
SPY was down near 335 several times in the last 10 trading days
LABU
#ShortPuts – Adding one…
Sold LABU SEP 18 2020 40.0 Put @ 1.50
SPY
STO October 2, 290/310 bull put spread at 1.15, I have my order in to cover this at .55 cents.
TDOC
#ShortPuts – Adding one…
Sold TDOC SEP 18 2020 180.0 Put @ 2.60
AAPL
STO October 2, 320/360-620/660 iron condor at 2.10
