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