EXPIRATION FRIDAY, 9/4/20, Expired worthless, all uncovered unless marked by **.
VMW 150.0 CALL STO @1.85
VIAC 29.0 CALLS STO.50
OSTK 105.0 CALL STO 5.00
MS 54.0 CALLS STO .52 **
KODK 6.0 PUTS STO .70
CZR 45.0 PUTS STO .85
CZR 51.0 CALLS STO .90
AAL 14.5 CALLS STO ..31
#SPX1dte Sold to Open $SPX Sept 8th 3240/3260-3545/3565 condors for 1.25, IV 22.38%, SPX 3431, deltas -.07,+.06. Bit nervous with the three day weekend, but strikes are decently OTM.
Bought to close WDC 09/04/2020 38.0 Covered Calls / Sold WDC 09/11/2020 40.0 Covered Calls @ 0.02 Credit plus and extra $2 on the short strike.
Since this was stock put to me after a disastrous earnings trade, they can have my stock next week..
Meanwhile the strike 37.0 puts I also sold as part of earnings week will expire today.
Yay!
Wow
Jekyll and Hyde market here.
Selling calls earlier, now puts
Sold VXX 09/11/2020 27.0 Put @ 0.48
Sold VXX 09/11/2020 26.50 Puts @ 0.33
Sold VXX 09/11/2020 26.00 Puts @ 0.22
#ShortPuts – Over 50 percent in a few hours…gotta take it.
Bought to Close SPY SEP 18 2020 310.0 Put @ 1.20 (sold for 2.60)
Bought to close 1 VXX SEP 04 20 $32 Call @ 0.01.
Sold @ 0.33 on 8/31
#SPX7dteLong Sold to close $SPX Sept 4th 3500/3480 put spreads for 19.25. Condors bought on Monday for 15.90. There looks to be a small chance of a rally to 3480, so not risking it. Now I’m rooting for it so I can make some money on my call side.
Also, super proud for shorting the market near the low today. But I still actually think that will be a winner next week.
Some more VXX Diagonal rolls
Bought to close 1 VXX 09/04/2020 28.00 Diagonal Call / Sold 1 VXX 09/11/2020 29.50 Diagonal Call @ 0.12 Credit plus 1.50 higher on the short strike
Bought to close VXX 09/04/2020 27.00 Diagonal Call / Sold VXX 09/11/2020 28.0 Diagonal Call @ 0.22 Credit plus 1.00 higher on the short strike.
I still have VXX 30.50, 31.0 and 32.0 short calls that should expire in an hour if I don’t cover them.
CC STO 9/11/20 22.0 NTM PUTS @1.33
Bought to close ADS 09/04/2020 51.0 Covered Call / Sold 1 ADS 09/11/2020 51.0 Covered Call @ 0.50 Credit
Bought to close ADS 09/04/2020 51.0 Covered Calls / Sold ADS 09/11/2020 51.0 Covered Calls @ 0.65 Credit (different account)
Bought to close ADS 09/04/2020 50.0 Covered Calls / Sold 1 ADS 09/11/2020 52.0 Covered Calls @ 0.38 Credit
Link to Calendar: https://research.investors.com/economic-calendar/
#ShortPuts – Stopped out of my overnight scalp at even. Added these though…
Sold UVXY SEP 11 2020 24.0 Puts @ .83 and .90
Sold to open $LABU 10/16 30 puts @ 2.00. Lowest strike in 10/16. 16 delta.
Bought to close KSS 09/04/2020 23.0 Calls / Sold KSS 09/11/2020 23.50 Calls @ 0.32 Credit plus an extra 0.50 on the strike price.
Bought to close KSS 09/04/2020 24.0 Calls / Sold KSS 09/11/2020 24.00 Calls @ 0.27 Credit
Bought to Open VIAC Oct 16 2020 33 Calls / Sold to Open VIAC Sep 11 2020 29 Calls @ Net Credit of $0.09.
I’m long excess September 32.50 Calls from earlier spreads but they expire in 2 weeks and I want to sell them soon.
The high for this move since earnings is 29.02 set yesterday morning.
Bought to close VXX 09/04/2020 30.0 Diagonal Calls / Sold VXX 09/11/2020 34.0 Diagonal Calls @ 0.22 Credit.
Added 4 BIG points to the short strike
Since this was my biggest short call position I’m just playing it safe.
I have other calls short today with higher strikes (and some lower) that I will monitor until 3:45
All is forgiven. Nothing to see here.
VIX drops from 38.28 to 32.28 in less than 2 hours and is down 4% from yesterday’s close.
#SPX1dte Sold to Open $SPX Sept 11th 3200/3220 call spreads for 17.25, when SPX was at 3370. Betting on more downside. Risking 2.75.
$ROKU looks to be bouncing off the 50 day moving average. Sold 10/16 140/130 bull put spread @ 2.80. Short strike 27 delta. IV rank 37. Stock trading around 159-160.
Rolled $NFLX Sep-04-2020 490/500 #BuPS // Sep-11-2020 @0.50 Credit.
STO Sep-11-2020 14 #CoveredCalls @0.34
Holding for expire Sep-04-2020 14 #ShortCalls
#ShortPuts – Gotta take a shot at the 200ma bounce.
Sold SPY Sep 18 2020 310.0 Put @ 2.60
Sold more VXX 09/18/2020 80.0 Calls @ 0.42 against long November calls
#ShortPuts #Earnings #CoveredCalls – A few this morning…
DOCU: Earnings booking it for safety.
Bought to Close DOCU SEP 18 2020 190.0 Put @ 2.60 (sold for 3.34)
NFLX: Short strangle rolling call down for extra credit.
Rolled NFLX SEP 18 2020 640.0 Call to NFLX SEP 18 2020 600.0 Call @ 1.25 credit (6.65 total now)
OSTK: Will be assigned 100 shares. Got an early start on covered calls right at the open.
Sold OSTK SEP 11 2020 70.0 Call @ 7.50
SLB: Covered rolling.
Rolled SLB SEP 4 2020 19.0 Calls to SEP 18 2020 19.0 Calls @ .48 credit
STX: Covered rolling.
Rolled STX SEP 4 2020 46.0 Calls to SEP 11 2020 46.5 Calls @ .15 credit
TNA: Booking for safety.
Bought to Close TNA SEP 18 2020 27.0 Put @ .64 (sold for .90)
Bought to Close TNA SEP 18 2020 28.0 Put @ .85 (sold for 1.08)
UVXY: Replacing some closed yesterday.
Sold UVXY SEP 11 2020 24.5 Puts @ 1.10
Bought to close 5 TSLA Sep 04 2020 560 Calls Limit at $0.01 to release margin for other trades.
It won’t trade any lower.
This was the short side of a single 2800/3000 Bear Call Spread sold last Friday @ 7.60
Playing the eventual contango loss in VXX over time.
First trade in this expiration – a year out – 378 DTE
Bought 1 VXX SEP 17 2021 $10 PUT @ 0.70
#Jobs — increase meets expectation, while UE rate falls more than expected
Gain of +1,371,000 non-farm payroll jobs, vs. expected 1.32M gain
Unemployment at 8.4%, down by 1.8%, vs. expected 9.8%
U6 unemployment at 14.3%, down by 2.3%
Labor force participation 61.7%, up by 0.3
Average hourly earnings up 0.4%, up by 0.2
July jobs revised down by -29K to +1.734M
June jobs revised down by -10K to +4.781M
#VIXIndicator A double warning today as $VIX closed up over 25% from yesterday’s close and is also up over 50% from the August 11th VIX low. Expect lower markets in the coming days or weeks.
#ShortPuts – This might get volatility to come down a little. Going for one night scalp…roll if needed.
Sold UVXY SEP 4 2020 26.0 Puts @ .21
Bought back half of my AAL 09/04/2020 15.50 Diagonal Calls @ 0.01 to release a bit of margin.
They won’t trade any lower.
Just to force me to stay long and not bail too soon:
Liquidated my long VXX September 18 2020 80.0 Calls and also shorted them @ 0.25.
Sold against long October and November 70.0 Calls so no upside risk.
#Earnings Unless it rallies tomorrow, looks like $CRWD will be a bust, but it was sold ITM so I knew the risk…
BTC $FIVE Sept 4th 112 puts for .05. Will let the call side wait for tomorrow.
#ShortPuts – A couple of my bigger positions so have to take the one day gains. Looking for a re-entry on any decent drop.
Bought to Close UVXY SEP 11 2020 21.5 Puts @ .19 (sold for 1.17)
Bought to Close UVXY SEP 11 2020 22.0 Puts @ .25 (sold for 1.16)
Not much green here
Semis and software groups are the leading losers.
NO new lows in the SP500 yet so no #FallingKnife candidates today
https://www.finviz.com/map.ashx?t=sec
Sold $AMD 10/16 65/110 strangle @ 3.42.
#TastyTradeFollow
Probably a nice bounce if it gets here
@DAN is right is will be the 3rd day down (ie: Tuesday)
#SPX7dteLong Bought to Open $SPX Sept 9th 3460/3480-3490/3510 condors for 17.20, with SPX at 3480.
Also, yesterday: Sept 2nd 3490/3510 call spreads expired ITM for max credit of 20.00. Condors bought last Thursday for 16.45.
Bought to Close 1 Contract SQQQ Sep 04 2020 19 Put @ $0.01. It won’t trade any lower.
Sold earlier this week @ 0.22
Sold $CRWD 9/18 110/115/145/150 iron condor @ 1.40.
#vxxgame
SOLD -1 VXX 20 NOV 20 65 CALL @2.76
had bto @ .92 on 8/13/20
Sold $AAPL 10/16 115/100 bull put spread @ 1.15. Short puts 24 delta. IV rank 55.
WKHS STO 9/11/20 20.0 CALLS @.73
THC STO 9/11/20 29.0 ATM CALLS @1.12
WKHS STO 9/11/12 16.5 PUT @.60
Thursday’s levels to watch: The Upside Warning will be canceled with an intraday VIX high of 30.42.
WE ARE THERE 🙂
Good time to have 10 excess long calls in VXX
VIX has spiked over 50% higher than its recent low.
Looks like I picked the wrong week to quit sniffing glue
Rolled 9/4 3475/3500/3600/3625 iron condor out to 9/9 3455/3480/3570/3595 for .30 credit
#earningsfive
Yesterday STO 4 Sep Bups 112/107 for 1.50
Today, BTC for .10
Thanks Jeff for the data
VXX
I would have expected more of a move here, could that indicate the 500 drop in /NQ isn’t that relevant? It is to me though.
Misleading headline of the day
“The Nasdaq Has Given Up All Of September’s Gains”
https://www.zerohedge.com/markets/classic-feedback-loop-why-everyone-chasing-gamma-crash
#ShortPuts – Adding….
Sold TQQQ SEP 18 2020 120.0 Put @ 2.05
Sold WFC SEP 25 2020 $30 CALLS @ 0.11
The stock is bouncing around just above 25.
The premium is about equal to the new quarterly dividend, which is not a lot these days.
In my estimation banks are pretty Covid-proof so I’ll hold on for an eventual recovery.
It would be nice if they managed their business better though 😦
MS BTO STOCK @54.03 & 54.16 on the Point & Figure chart’s ascending triple top’s breakout, and double chart breakout buy signals. We’ll see.
#Earnings $AVGO reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
June 4, 2020 AC +2.65%
March 12, 2020 AC +7.05%
Dec. 12, 2019 AC -3.77%
Sept. 12, 2019 AC -3.41%
June 13, 2019 AC -5.56% Biggest DOWN
March 14, 2019 AC +8.23% Biggest UP
Dec. 6, 2018 AC +0.58%
Sept. 6, 2018 AC +7.69%
June 7, 2018 AC -2.53%
March 15, 2018 AC -4.81%
Dec. 6, 2017 AC
Aug. 24, 2017 AC -3.70%
Avg (+ or -) 4.17%
Bias 0.20%, no significant bias on earnings.
With stock at 365.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 340.68 to 389.32 (+/- 6.7%)
Based on AVERAGE one-day move over last 12 quarters: 349.80 to 380.20
Based on MAXIMUM one-day move over last 12 Q’s (8.2%): 334.96 to 395.04
Based on DOWN max only (-5.6%): 344.71
Open to requests for other symbols.
Sold 1 VXX Sep 04 2020 28 Call / Bought 1 VXX Sep 25 2020 50 Call @ 0.15 Credit
Big ramp up is SPY plus a big move up in VIX/VXX
Today’s all-time-high in the S&P 500 was accompanied by the highest level ever for VIX at an all-time high stock print…
How long can this last?
STO October 16, 90 puts at 1.30, stock is at 142 but, earnings are tonight.
#ShortPuts – Booking and selling some more. These are replacing some stock that will get called away over the weekend at breakeven. Had been selling DITM calls against it but not very rollable now. Resetting with new short puts.
Bought to Close UVXY SEP 4 2020 21.0 Puts @ .12 (sold for .54)
Sold UVXY SEP 11 2020 22.0 Puts @ 1.16
#Earnings. Aggressive put spread: Sold to Open $CRWD Sept 4th 150/145 put spreads for 3.20.
For all you signal traders, I hope you’ve been paying attention. Apparently I’m getting good at this. As soon as I put on a new SPX condor, the index immediately ran up about 25 points.
Let me know when you’re ready for a pullback and I’ll sell a put spread or something. Happy to help.
#CoveredCalls – Picking up some upside…
Rolled UVXY SEP 11 2020 20.0 Calls to UVXY SEP 18 2020 21.0 Calls @ .15 credit
#Earnings Sold to Open $FIVE Sept 4th 107/112-135/140 condors for 1.661 (avg price). Bullish lean based on past performance, and market’s direction.
Sold $WYNN 10/16 80/70 bull put spread @ 2.88. Short puts 31 delta.
Was out of trading this for a long time but apparently I just can’t stay away now.
Channeling the short memory of a defensive back that got burned, and initiating a new 3 day trade:
Sold $SPX 9/4 3475/3500/3600/3625 iron condor @ 4.35. Short puts 15 delta, short calls 16 delta. SPX around 3558.
With SPX going up again, bought to close 9/9 3450/3475//3540/3565 @ 16.76. Feel free to consider this your signal to sell the market.
Will reinitiate with something probably later today.
Sold MSFT 1 x 3 x 2 SEP 25 2020: 230 / 225 / 220 PUT Unbalanced Butterfly @ 1.35 credit.
No risk to the upside. Downside breakeven point @ $222.
Adjustment plan when (if) MSFT goes lower, close out the 1 x 230 / 225 put spread for a credit, add a 2 x upside call credit spread to match the leftover 225 / 220 put spread, creating an Iron Condor.
#ShortPuts #Earnings – Going out a couple weeks for a lower sale…
Sold DOCU SEP 18 2020 190.0 Put @ 3.30
#ShortPuts – Still hedging a little…
Bought to Close UVXY SEP 4 2020 20.0 Puts @ .05 (sold for .72)
Sold UVXY SEP 11 2020 21.5 Puts @ 1.17
#ShortStrangles – Stopped out at over 50 percent max. Based on pre-split prices…
Bought to Close TSLA SEP 4 2020 1750.0/3400.0 Strangle @ 5.55 (sold for 12.20)
#earningsCRWD
STO 11 Sep BuPS 115/120 for 1.63
Short delta .24
Reports tonight
Hoping for, and a participant in, continued irrational tech speculation.
/VX Futures, VIX and VXX all up again
Really afraid of the VIX move if the SPY were to actually go down
New diagonal call spread to go along with my covered calls @ 38 and my Put diagonal spread @ 37.
Bought WDC Oct 16 2020 47.5 Calls / Sold WDC Sep 04 2020 38.5 Calls @ 0.21 Credit.
If the stock stays up I will roll the covered calls and the diagonal calls out while the puts expire.
All the shorts expire with the stock ending the week between 37 and 38
#ShortDiagonalCalendar
Sold 1 SQQQ Sep 04 2020 19 Put @ 0.22 on the open when the stock got down to 19.55
Options Bistro 