SPXpire

#SPX1dte Expiring: $SPX Sept 30th 3235/3255-3415/3435 iron condors, sold yesterday for 1.20.

#shortputs C Sold Oct. 16,…

#shortputs C

Sold Oct. 16, 41.50 put for .93

#rolling #diagonal SPY Rollups This…

#rolling #diagonal SPY Rollups

This morning rolled Sept. 30, 333 call to next week, Oct. 5, 335 call for 1.17
Rolled Sept. 30, 332 call to Oct. 5, 334 call for .92

VXX Diagonal Call spreads

Puts earlier, now calls (or at least call spreads) to help balance out the positions.
Sold VXX Oct 02 2020 25.5 Calls at $0.33 and $0.40.
Sold VXX Oct 02 2020 26.0 Calls at $0.24 and $0.32.
These all filled with VXX between 24.75 and 25
Bought Oct 30 2020 42, 45, 47 and 50 calls as a hedge with small net credits overall.

DOCU Put Closed

#shortputs
$DOCU BTC 10/9 180 put at .20. STO at 2.67 Thank you @fuzzballl

NVAX Put

#shortputs
$NVAX STO 10/2 105 put at 1.50

LABU NFLX

#ShortPuts – Taking some more off the table…

Bought to Close LABU OCT 02 2020 45.0 Put @ .20 (sold for 1.32)
Bought to Close NFLX OCT 02 2020 450.0 Put @ .20 (sold for 3.60)

OSTK

#ShortPuts – Adding one…

Sold OSTK OCT 9 2020 64.0 Put @ 1.35

SPY Rollups

Except in the overnight market I didn’t get the hoped for SPY pullback. So I’m beginning to roll up for Friday’s expiration instead.
Bought to Close SPY Sep 30 2020 334 Calls / Sold to Open SPY Oct 02 2020 336 Calls @ 0.37 Net Credit
Bought to Close SPY Sep 30 2020 333 Calls / Sold to Open SPY Oct 05 2020 335 Calls @ 0.12 Net Credit .

I got a two point higher strike for Friday with SPY trading at 336.50.

NVDA adjustment

Adjusting $NVDA 10/16 430/440/550/560 iron condor with the stock around 543. Rolled 440/430 bull put spread up to 505/495 @ 1.83 credit. Short puts 22 delta. Total credit in trade now 5.21.

Closing NFLX

Bought to close $NFLX 10/16 465/455 bull put spread @ 1.58. Sold for 3.45 on 9/21.

VXX

Sold VXX Oct 02 2020 23.5 Puts at $0.11
Sold VXX Oct 02 2020 24.0 Puts at $0.33
Sold VXX Oct 02 2020 24.5 Put at $0.64.
Sold against 2021 and 2022 puts already long from earlier diagonal spreads.

SPX 7-dte

#SPX7dteLong In pre-market, sold to close $SPX Sept 30th 3250/3270 call spreads for 19.55. Condors bought for 17.90 last Wednesday.

VXX

Somebody thinks the VIX is going to drop tomorrow. All these filled near the end of the day and went even higher.
Sold VXX Oct 02 2020 23.5 Puts at $0.10
Sold VXX Oct 02 2020 24.0 Puts at $0.21
Sold VXX Oct 02 2020 24.5 Put at $0.48

SPX trades

#SPX7dteLong Bought to Open $SPX Oct 5th 3315/3335-3345/3365 condors for 17.50, with SPX at 3339.

#SPX1dte Sold to Open $SPX Sep 30th 3235/3255-3415/3435 condors for 1.20, IV 20.07%, SPX 3341, deltas -.05,+.06

Another NVDA condor

Sold $NVDA 10/16 470/480/590/600 iron condor @ 2.65 with the stock around 530. Short strikes around 16 delta. IV rank 35.

OSTK

#ShortPuts – Starter position in a different account…

Sold OSTK OCT 9 2020 65.0 Put @ 1.60

TSLA

#ShortPuts – Jumping back in…

Sold TSLA OCT 02 2020 385.0 Put @ 2.05

NVTA Puts

#shortputs
$NVTA STO 10/16 40 puts at 1.30

VIX

What if the VIX doesn’t go up?

https://www.zerohedge.com/markets/crash-risk-what-if-election-not-doomsday-event-vix-expects-it-be

Quote of the day

If you intend to watch, remove all sharp objects and fragile home furnishings from your TV room. Start drinking at least one hour in advance. Consider a small dose of horse tranquilizer.

TDOC

#ShortPuts – Nice run the last few days so I’ll take it 10 days early…

Bought to Close TDOC OCT 09 2020 180.0 Put @ .35 (sold for 2.75)

TSLA

ShortPuts – Taking the quick profit…

Bought to Close TSLA OCT 02 2020 390.0 Put @ 2.50 (sold for 4.75)

ADBE adjust

$ADBE Adjusted my 10/16 420/430/510/520 iron condor. Rolled the 430/420 bull put spread up to 460/450 for 1.18 credit. Stock at 490.77 and looking pretty strong. Total premium now 4.29.

WFC Put spread

Put buyers are really concerned about Well Fargo’s October 14th #Earnings report
Bought to Open WFC Dec 18 2020 17.5 Puts / Sold to open WFC Oct 16 2020 21.5 Puts @ 0.04 Net Credit.

The short strike is a half point below the 52Week low.
And I have another spread-based short put at 22.0 that probably expires the week before.
That will give me an extra set of protective long puts.

#closing CHWY DKNG #jadelizard #shortputs…

#closing CHWY DKNG #jadelizard #shortputs

CHWY Sept. 10, sold a jade lizard with a long put, making it an iron condor. CHWY went down quite a bit, selling the long put and a couple rolls, closed the position today for a gain
DKNG Sept. 21, sold an Oct. 9, 41 put for .80, bought today for .08

SPY

#ShortPuts – Hitting resistance so taking it early…

Bought to Close SPY OCT 16 2020 295.0 Put @ .51 (sold for 2.30)

TSLA

#ShortPuts – Pretty aggressive but a couple rolls available leading into earnings…

Sold TSLA OCT 02 2020 390.0 Put @ 4.75

DOCU

#ShortPuts – Booking it on the early bounce…

Bought to Close DOCU OCT 09 2020 180.0 Put @ .30 (sold for 2.90)

MU earnings analysis

#Earnings $MU reports tonight. Below are details on earnings one-day moves over the last 12 quarters.

June 29, 2020 AC +4.82%
March 25, 2020 AC +5.38%
Dec. 18, 2019 AC +2.80%
Sept. 26, 2019 AC -11.09% Biggest DOWN
June 25, 2019 AC +13.34% Biggest UP
March 20, 2019 AC +9.61%
Dec. 18, 2018 AC -7.91%
Sept. 20, 2018 AC -2.86%
June 20, 2018 AC +0.83%
March 22, 2018 AC -7.99%
Dec. 19, 2017 AC +4.02%
Sept. 26, 2017 AC +8.51%

Avg (+ or -) 6.60%
Bias 1.62%%, positive bias on earnings.

With stock at 51.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 47.23 to 54.77 (+/- 7.4%)
Based on AVERAGE one-day move over last 12 quarters: 47.64 to 54.36
Based on MAXIMUM one-day move over last 12 Q’s (13.3%): 44.20 to 57.80
Based on DOWN max only (-11.1%): 45.34

Open to requests for other symbols.

WDC

Sold to open WDC Oct 02 2020 41 Calls at $0.31

SLB Covered Calls

Covered up part of my long stock yesterday
Sold SLB 10/02/2020 17.0 Calls @ 0.25
Sold SLB 10/02/2020 17.5 Calls @ 0.13

Some thoughts and examples on “working” covered calls over an extended period of time versus “trading”

https://coveredcallswithjeff.wordpress.com/2020/09/29/treating-covered-call-positions-as-a-mid-term-strategy-versus-one-and-done-trades/

DKNG Puts Closed / GOOGL DKNG WYNN BUPS Closed

#shortputs
$DKNG BTC 10/16 40 puts at .20. STO for 3.96

#bups
$GOOGL BTC 10/2 1250/1300 BUPS at .30. STO at 1.95. Thank you @jsd501
$DKNG BTC 10/16 30/35 BUPS at .10. STO at 1.70.
$WYNN BTC 10/16 70/80 BUPS at 6.00. STO at 2.83.

SPXpire

Expiring:
#SPX1dte Sept 28th 3190/3210-3365/3385 condors, sold Friday for 1.40
#SPX7dteLong Sept 28th 3305/3325 call spreads for max credit of 20.00. Condors bought last Tuesday for 17.70.

TQQQ

#ShortPuts – Risk reduction on the bounce. Looking for a new pullback to re-load.

Bought to Close TQQQ OCT 02 2020 100.0 Put @ .20 (sold for 2.30)

NVDA

#ShortPuts – I’ll take it a few days early…

Bought to Close NVDA OCT 02 2020 450.0 Put @ .15 (sold for 4.33)

NFLX

#ShortStrangles – Stock caught an upgrade with a 570 target. Rolling the put sold earlier up for additional credit and adding a weekly short call.

Rolled NFLX OCT 16 2020 425.0 Put to OCT 16 2020 460.0 Put @ 4.91 credit (8.09 total now)
Sold NFLX OCT 2 2020 520.0 Call @ 1.45

EDIT: More aggressive put roll up to allow slightly more aggressive call selling for a couple weeks leading up to earnings.

TAN, Making a new high…

TAN, Making a new high so STO October 16, 57 puts at 1.10

SPY Roll

Bought to Close SPY Sep 28 2020 330 Calls / Sold to Open SPY Sep 30 2020 331 Calls @ 0.20 Net Credit

EWZ

#LongCalls #LEAPS – Haven’t done one of these in awhile. Buying the LEAP calls and selling short term against them. I’ll hopefully be more disciplined with my call sales than in my past. Goal is to eventually cover the cost of the LEAPS selling half as many short term. EWZ near multi year lows (other than covid crash).

Bought to Open 10 EWZ JAN 20 2023 27.0 Calls @ 5.70
Sold 5 EWZ OCT 2 2020 29.0 Calls @ .12

Nearly every one of these I’ve ever tried would have been successful had I not got greedy with weekly sales. 🙂 🙂

ROKU BWB

Since many months sitting on a ROKU Jan 2022, $140 / $190 Bull Call Spread (cost $13). Looking for ways to sell premium against that spread, this BWB does the trick with the $175 / $185 leg of the BWB 100% ITM, happy to keep rolling the short call spread side $185 / $200 as often as it takes.

$ROKU BTO Oct 16, 175 / 185 / 200 Broken Wing Call Butterfly for $0.07 debit.

Breakeven on the upside at $185. $0.07 of downside exposure.

#BWB 

SPX 7-dte

#SPX7dteLong Bought to open $SPX Oct 2nd 3320/3340-3350/3370 iron condors for 17.30, with SPX at 3345.

SPY Rolls

Bought to Close SPY Sep 28 2020 331 Calls / Sold to open SPY Sep 30 2020 333 Calls @ 0.04 Net Credit.
Bought to Close SPY Sep 28 2020 332 Call / Sold to open SPY Sep 30 2020 334 Call @ 0.42 Net Credit.
Two points better off on the short strike on both.

NFLX

#ShortPuts – Selling down at the 200ma and 1.5 times the expected move and the week before earnings.

Sold NFLX OCT 16 2020 425.0 Put @ 3.18

#rolling #diagonal SPY Rolled Sept….

#rolling #diagonal SPY

Rolled Sept. 28, 331 to Sept. 30, 332 for .53

BA BWB

$BA BTO Oct 16, 160 / 165 / 175 Broken Wing Call Butterfly for $1.11 credit.

Breakeven on the upside at $171. No downside risk (keep credit).

#BWB 

#shortputspread ALB Sold Oct.16, 75/80…

#shortputspread ALB

Sold Oct.16, 75/80 for .95

SPY new Diagonal

Bought to open 1 SPY 10/26/2020 346.0 Call / Sold 1 SPY 09/30/2020 334.0 Call @ 0.04 Credit
Betting on some downside volatility after tomorrow’s debate.
Hoping to get re-write opportunities all though October

NTES

#ShortPuts – Downgraded to 540-570 target.

Sold NTES OCT 09 2020 435.0 Put @ 4.00

WFC Covered Call

Sold WFC OCT 16 2020 $27 CALLS @ 0.18

WBA Calls

Sold 1 WBA OCT 02 2020 $37.50 Covered Call @ 0.17
Sold WBA OCT 02 2020 $38.00 Diagonal Calls @ 0.12
The stock range is 35.83 to 36.36 so far today

OSTK

#ShortPuts #CoveredCalls – Catching up on Friday. Keeping stock a little longer and adding a put sale.

Rolled OSTK SEP 25 2020 70.0 Call to OCT 02 2020 70.0 Call @ 3.05 credit
Sold OSTK OCT 02 2020 67.5 Put @ 2.20

Expirations Assignments

#optionsexpiration
$MRVL 40 call
$RAD 14 call
$NUGT 85 call
$OSTK 65 put Thank you @fuzzballl

#assignments

$SQ 149 call After four months of rolling I decided to gather no more moss at this time

OptionsExpiration

Expired:
KSS 09/25/2020 22.50 Covered Calls
SLB 09/25/2020 17.50 Covered Calls
SLB 09/25/2020 18.00 Covered Calls
VIAC 09/25/2020 31.00 Diagonal Calls
VXX 09/25/2020 31.00 Diagonal Calls
VXX 09/25/2020 30.50 Diagonal Calls
VXX 09/25/2020 30.00 Diagonal Calls
VXX 09/25/2020 29.00 Diagonal Calls
VXX 09/25/2020 28.50 Diagonal Calls
WBA 09/25/2020 36.50 Covered Call
WBA 09/25/2020 37.00 Diagonal Call
WBA 09/25/2020 37.50 Diagonal Call
WDC 09/25/2020 40.00 Covered Calls
WDC 09/25/2020 40.50 Diagonal Calls
WDC 09/25/2020 41.00 Diagonal Calls
WFC 09/25/2020 30.00 Covered Calls

VXX 09/25/2020 24.50 Diagonal Puts
VXX 09/25/2020 24.00 Diagonal Puts
VXX 09/25/2020 23.50 Diagonal Puts
WDC 09/25/2020 33.50 Diagonal Puts

Assignments:
None

Expirations / Roll

Expirations / Roll

OX $AAL 14 Sep-25-2020 Calls
STO $AAL 12.5 Oct-02-2020 #CoveredCalls

OX $AMD Sep-25-2020 82.5/85 #BeCS (end of a long chain of trades)

Econ calendar for week of 9/28/20

#JOBS report is Friday morning

Screen Shot 2020-09-25 at 1.03.10 PM
Screen Shot 2020-09-25 at 1.03.10 PM

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

Expiration Friday, all expired worthless,…

Expiration Friday, all expired worthless, ** denotes covered option. If CALL, doesn’t have an “s” after it it is only ONE CALL. ;>) Great weekend everyone, and where it applies, a great Holiday.

KODK 11.5 CALL STO @.75
KODK 12.0 CALL STO @.65
KODK 12.5 CALL STO @.50
OSTK 74.0 CALL STO @3.60
OSTK 76.0 CALL STO @3.10
VMW 141.0 CALL STO @.70 **
AAPL 115.0 CALL STO @.87 **
DKNG 52.0 CALL STO @.58 ** Looks like stocks going to be assigned
DKNG 53.0 CALL STO @.80 ** ” ” ” ” “

SPX 1-dte

#SPX1dte Sold to Open $SPX 3190/3210-3365/3385 iron condors for 1.40, IV 14.95%, SPX 3296, deltas -.07,+.06

MU Puts

#shortputs
$MU STO 10/2 46 put at .82. Earnings 10/2. Stock at 48.94. That’s all I have.

#diagonal SPY Rolled Sept. 25,…

#diagonal SPY

Rolled Sept. 25, 330 call to Sept. 28, 331 for .68

NVAX Puts Closed / PENN VXX HAL Puts Rolled

#shortputs
$NVAX BTC 9/25 106 put at .15. STO at 4.50.
$NVAX BTC 9/25 107 put at .15. STO at 5.69.
$PENN BTC 9/25 70 put and STO 10/2 67 put at .20 added credit
$VXX BTC 9/25 24 put and STO 10/2 24.5 put at .28 added credit
$HAL BTC 9/25 16 put and STO 10/2 16 put at even.

#shortputspread NVDA Sold Nov. 20,…

#shortputspread NVDA

Sold Nov. 20, 420/430 for 2.41 I plan to be out before some upcoming election and earnings the 11th.

SPY

Sold 1 SPY Sep 28 2020 330.0 Diagonal Call at $0.61

Also set up a new diagonal spread:
Bought to Open 1 SPY Oct 16 2020 348 Call / Sold to open 1 SPY Sep 28 2020 330 Call @ 0.22 Net Credit

Markets

#FallingKnife

Energy names are leading the downside in the S&P500 with the market up
APA Apache Corporation
FTI TechnipFMC plc
MRO Marathon Oil Corporation
NOV National Oilwell Varco, Inc.
OXY Occidental Petroleum Corporation
SLB Schlumberger Limited
FANG Diamondback Energy, Inc.
VLO Valero Energy Corporation
MPC Marathon Petroleum Corporation
COG Cabot Oil & Gas Corporation
HFC HollyFrontier Corporation
DVN Devon Energy Corporation
PSX Phillips 66

Only Cabot and Valero are currently profitable but most are still paying a dividend

TRADES: Late posting

CZR BTO STOCK @54.85
AAPL BTO STOCK 108.94 & 109.37

WDC roll

Bought to close WDC Sep 25 2020 40.0 Diagonal Calls at $0.01. It won’t trade any lower.
Replaced these with WDC Oct 02 2020 40.0 Diagonal Calls at $0.43

SPY roll

Bought to close SPY Sep 25 2020 334 Call at $0.01. (Sold Wednesday @ 1.15)
Bought to close SPY Sep 25 2020 333 Call at $0.01. (Sold last Friday @ 5.12)
They won’t trade any lower.

Replaced them:
Sold 1 SPY Sep 28 2020 329.0 Diagonal Call at $0.55
Sold 1 SPY Sep 30 2020 329.0 Diagonal Call at $1.34

VXX Put roll

Bought to close VXX Sep 25 2020 26.0 Puts at $0.22. Sold last Friday on a roll down at $2.46.

Replaced them with short VXX Oct 02 2020 24.5 Puts at $0.29 for a 0.07 Net Credit.

With VXX bouncing around on both sides of the strike price yesterday, I’m not waiting for expiration.

KR Put Closed

#shortputs
$KR BTC 9/25 35 put at 1.50. STO at 2.07.

NVDA iron condor

Sold to open $NVDA 10/16 430/440/550/560 iron condor @ 3.38

NVDA TSLA Put Closed

#shortputs
$NVDA BTC 9/25 465 put at .50. STO at 3.80. Thank you @fuzzballl
$TSLA BTC 9/25 350 put at .60. STO at 6.20. Thank you @fuzzballl

OSTK

#ShortPuts – Another one for tomorrow.

Bought to Close OSTK SEP 25 2020 67.5 Put @ .20 (sold for 2.70)

SLB

Squeezing some lunch money out of this one for tomorrow
Sold SLB Sep 25 2020 17.5 Covered Calls at $0.05

TSLA

#ShortPuts – Took the quickie profits on both of these. Looking to re-load on a pullback.

Bought to Close TSLA OCT 2 2020 325.0 Put @ 3.40 (sold this morning for 5.50)
Bought to Close TSLA OCT 2 2020 310.0 Put @ 2.25 (sold this morning for 3.80)