Bought to open VXX Jan 15 2021 15.0 Puts / Sold to Open VXX Oct 09 2020 24.0 Puts @ 0.03 Net Credit.
I expect the short to expire leaving me with a few more “no cost” longs for next January (or I can roll).
Also Sold to Open VXX Oct 09 2020 23.50 Puts @ 0.12
Pretty benign range for VXX today. 24.39-24.81 with half the day gone
#LongCalls #LEAPS – Wasn’t expecting this kind of bounce. Looks like it’s running back up to resistance so taking the quick profit and looking for a put sale entry on a pullback.
Sold to Close 10 EWZ JAN 20 2023 27.0 Calls @ 6.45 (bought for 5.70)
Gains on short calls last week and losses on short calls this week.
Net gain overall of .45 on a 10 lot…
#rolling #diagonal SPY #coveredcalls CC
SPY Rolled Oct. 7, 335 calls to Oct. 12, 336 for .43
CC sold Oct. 16, 24 covered call for .33
#ShortStrangles – Another one the week before earnings in case rolling is needed. Selling 1.5x the expected move on the downside and 2x the expected move on the upside.
Sold TSLA OCT 16 2020 375.0/480.0 Strangle @ 6.60
#ShortPuts – Trying to squeeze one more in before earnings…
Sold NFLX OCT 16 2020 480.0 Put @ 3.20
#shortputs
$OSTK BTC OCT 9 64.0 Put @ .10 (sold for 1.50).
$OSTK BTC OCT 9 65.0 Put @ .10 (sold for 1.59). Thank you @fuzzballl
#ShortPuts – Gotta book ’em on a move like this…
Bought to Close OSTK OCT 9 2020 65.0 Put @ .16 (sold for 1.60)
Bought to Close OSTK OCT 9 2020 64.0 Put @ .15 (sold for 1.35)
Bought to close 1 SPY Oct 05 2020 338 Call / Sold to Open 1 SPY Oct 07 2020 340 Call @ 0.50 Net Credit.
SPY rallied 5 points today so getting almost a point for a call 3 points out of the money this morning just wasn’t enough premium I guess.
Sept. 29, sold Oct. 16, 75/80 for.95, bought today for .12
Selling a small diagonal with the short side next week instead of this week..
Bought to open VXX Jan 15 2021 16 Puts / Sold to Open VXX Oct 16 2020 23.5 Puts @ 0.07 Net Credit.
I expect the short to expire leaving me with a few more “no cost” longs for next January.
I’m thinking the VIX pulls back dramatically by Thanksgiving based on the skew in the VIX futures.
#SPX7dteLong Bought to Open $SPX Oct 9th 3370/3390-3400/3420 iron condors for 17.00, with SPX at 3395.
Expected to expire: Oct 5th 3345/3365 call spreads for max credit of 20.00. Condors bought last Tuesday for 17.50.
#SPX1dte expiring: Oct 5th 3240/3260-3440/3460 condors, sold Friday for 1.45.
Sold ADS Oct 09 2020 51.0 Covered Call @ 0.25
Sold KSS Oct 09 2020 22.0 Covered Calls at $0.22
Sold WBA Oct 09 2020 37.5 Covered Call at $0.15
Sold WDC Oct 09 2020 40.0 Covered Calls at $0.07
Enough for this week’s grocery store run 🙂
Sold to open VXX Oct 09 2020 24.5 Puts @ $0.42, adding to my position.
Sold to open VXX Oct 09 2020 24.0 Puts @ $0.22, adding to my position.
This replaces similar VXX Puts that expired Friday.
#DoubleDip
The low for VXX so far today is 24.90 but the VIX is still up 3.5% today
#closing NFLX #rolling AAL M CCL NKLA #coveredcalls X CCL UAL
NFLX closed a Nov. 20 #ironcondor for a loss of $24, being uncooperative
AAL rolled Oct. 16, 20 put to Nov. 20 for .27
CCL rolled Oct. 16, 20 put to Nov. 20 for .50
M rolled Oct. 16, 8 put to Nov. 20 for .18
X sold Oct. 16, 8.5 #coveredcall for .16
CCL sold Oct. 16, 16 #coveredcall for .45
UAL rolled Oct. 30, 27 #coveredcall to Dec. 18 for 1.40
NKLA Sept. 9 sold an Oct. 16, 20/30 put spread for 1.47. financial shenanigans brought the stock down, Today sold the long put for 1.40, was bought for .35, rolled the short put to Nov. for 2.90
#ShortPuts – Another one filled. Completely out of LABU now…
Bought to Close LABU OCT 09 2020 42.5 Put @ .10 (sold for 1.35)
It’s happening again
VIX up 4%
S&P up 1.3%
Arrrggg 🙂
#ShortStrangles – Adding a call next week to balance out this week’s 2P x 1C short strangle. Selling 2 times the expected move and above all time highs and a week prior to earnings.
Sold NFLX OCT 16 2020 580.0 Call @ 1.83
#ShortPuts – A couple small profits. NTES is post split now so booking here and looking for a smaller size entry…
Bought to Close LABU OCT 09 2020 40.0 Put @ .10 (sold for 1.20)
Bought to Close NTES OCT 09 2020 87.0 Puts @ .60 (sold for .80) split adjusted
Roll Oct-16-2020 SPCE 30 #Shortputs // Nov-20-2020 @1.05 Credit.
Still digging out on this one – multiple rolls since starting with 31 puts sold in Feb.
(ETA: The Spice must flow)
Sold to Open SPY Oct 09 2020 340 Diagonal Calls at $2.22 & 2.66
Sold to open SPY Oct 07 2020 339 Diagonal Calls at $1.83 & 2.27
Sold to open 1 SPY Oct 05 2020 338 Diagonal Call at $0.90
Sold these to replace the 10/02/2020 335 calls that expired and the 10/02/2020 336 Calls I covered for a penny on Friday.
Bought to Open 1 SPY Nov 20 2020 360 Call /Sold to Open 1 SPY Oct 07 2020 335 Call @ 0.58 Net Credit
Bought to Open 1 SPY Nov 20 2020 355 Call /Sold to Open 1 SPY Oct 09 2020 335 Call @ 0.14 Net Credit
Short options have helped but hard to offset $50 drop in stock price.
https://coveredcallswithjeff.wordpress.com/2020/10/05/peleton-pton-covered-call-strategy-2771-in-33-days-roi-of-17-9-or-198-annualized/
https://coveredcallswithjeff.wordpress.com/2020/10/05/goldman-sachs-gs-covered-call-assigned-profit-of-455-in-44-days-roi-5-or-4-annualized/
Four months ago I posted a (too long) summary of a SPY mechanical put selling paper trading exercise I would consider if I had a large account. For a refresher here’s the link:
https://bit.ly/3cZuOw6
I’m still running the theory and so far so good. Even with the selloff recently nothing has gone ITM except for a very short time. For awhile I ran it as a sell around 40-45 days and roll at 15-20 days. I’m now in the process of returning to the original allocation of 1 contract per expiration for 20-22 straight expirations. I’m not trying to time anything so these results could be a little better I think. Just mechanically selling as soon as new expirations are available.
So far (allocating about 600k)
Premium received: 29,360
Total realized gain: 21,090
Avg. strike sold: 295
Avg. gain per contract closed: $324
At the current pace it’s looking like about 60k gain for a year with very few issues or stress. Unless we get another black swan covid type implosion I’m thinking this is a decent low maintenance strategy. If nothing else it is a great learning exercise for a new option trader.
#optionsexpiration
$PENN 67 put
$TSLA 385 put
$NVAX 125 calls
$BX 54 call
$PFE 37 call
Bought to close SPY Oct 02 2020 336 Calls at $0.01. (Tried to cancel the order but was too late)
Sold these at 4.52 last week.
Have a nice weekend everyone.. I am done for this week.
TQQQ, STO June 45 puts at 5.05
DKNG STO 10/9/20 59.0 PUTS @.98
DKNG STO 10/9/20 70.0 CALLS @1.10 Delta is 23
That is all I’m carrying over the weekend.
Good and safe weekend all. ;>)
Bought to Close SPY Oct 02 2020 334 Call / Sold to Open SPY Oct 07 2020 338 Call @ 0.82 Net Credit plus a 4 point higher strike for Next Wednesday.
The SPY high for the last 10 days has been 338.74.
#ShortPuts -Going back in short term. Selling outside the expected move and below the 50 and 100 moving averages. Also 2 weeks before earnings…
Sold NFLX OCT 09 2020 475.0 Put @ 3.15
#SPX1dte Sold to Open $SPX Oct 5th 3240/3260-3440/3460 iron condors for 1.45, IV 17%, SPX 3363, deltas -.06,+.06.
Expiring: Oct 2nd 3255/3275-3450/3470 condors, sold yesterday for 1.40.
Bought to close VXX Oct 02 2020 25.5 Calls @ 0.09. Sold these last Friday at 0.32 and 0.41.
Replaced them with some VXX Oct 09 2020 31.0 Calls @ 0.12.
VXX is at 25.40. Not chancing a bounce in the last 20 minutes that could put them back in the money.
I’m pretty confident that my VXX 26.0 Calls will expire though.
#shortputs
$NVAX BTC 10/2 105 put and STO 10/9 102 put at 3.85 credit
#SPX7dteLong Sold to close $SPX Oct 2nd 3350/3370 call spreads for 10.55. Have been waiting for a pop even higher but losing steam. This is such a precarious exercise when the spread is expiring ATM with elevated volatility. You can have $2,000 swings all day for each spread.
Condors bought for 17.30 on Monday, sold today for a total of 17.05.
Sold another VXX 10/09/2020 25.0 Put at 0.71 – adding to my position
Also
Sold VXX 10/09/2020 24.0 Puts at 0.24 – also adding.
I have a huge bunch of 24.0 and 24.50 puts expiring in an hour.
VXX is at 25.35
NVDA, STO October 23, 440/450 bull put spread at .91
TQQQ STO, March 55 puts at 5.15, someone is very bearish on tech stocks. These are small trades and I can sell more at better prices if we get bigger down draft.
STO December 75 puts at 5.00
STO January 65 puts at 4.70
Link to calendar: https://research.investors.com/economic-calendar/
#shortputs
$TDOC BTC 10/9 180 put at .15. STO at 2.70.
$OSTK STO 10/9 70 put at 1.80
$NVDA STO 10/9 480 put at 3.60. Thank you @fuzzballl for the hat trick.
#coveredcalls
$PENN BTC 10/2 65 call and STO 10/16 70 call at 1.40 debit but would gain $5 if called away. Stock at 73.80.
$DKNG BTC 10/16 60 call and STO 10/30 63 call at .40 additional credit and would gain $3 if called away. Stock at 62.98.
$NUGT BTC 10/2 90 call and STO 10/9 90 call at 1.70 credit. Stock at 83.95.
Sold 1 GILD 11/06/2020 60.00 Put @ 1.41
Sold 1 T 12/18/2020 26.00 Put @ 0.64
Sold 1 XOM 11/20/2020 30.00 Put @ 1.22
All strikes are below the panic lows in March/April.
#FallingKnife stocks.
#AccidentalHighYield
Sold ADS Oct 09 2020 49 Covered Calls at $0.45.
#Earnings not until 10/22
Sold KSS Oct 09 2020 21 Diagonal Calls at $0.16 for next week.
Waiting on 20 & 20.50 calls to expire today.
added some for next week:
Sold VXX Oct 09 2020 30 Call at $0.42
Sold VXX Oct 09 2020 29.5 Call at $0.46
Sold VXX Oct 09 2020 29 Call at $0.55
Sold VXX Oct 09 2020 24.5 Puts at $0.44
Sold VXX Oct 09 2020 24.0 Puts at $0.26
All these are hedged with VXX Nov/Dec long positions for the Calls and 2021/2022 long positions for the puts
The first of many potential rolls for today’s expiration
Bought to Close SPY Oct 02 2020 330 Call / Sold to Open SPY Oct 05 2020 331 Call @ 0.42 Net Credit plus a one point higher strike for Monday.
Bought to Close SPY Oct 02 2020 331 Call / Sold to Open SPY Oct 05 2020 332 Call @ 0.43 Net Credit plus a one point higher strike.
Bought to Close SPY Oct 02 2020 333 Calls / Sold to Open SPY Oct 05 2020 335 Calls @ 0.19 Net Credit plus two points higher (and currently out of the money for the moment).
Still have 334, 335 and 336 Call to deal with by the close.
#ShortPuts – Missed the bottom but still nice premium in these. Selling outside the expected move and below the 50ma and well before earnings…
Sold NVDA OCT 16 2020 480.0 Put @ 3.50
Sold 1 VXX 10/09/2020 28.50 Call @ 0.68 & 1 VXX 10/09/2020 25.0 Put at 0.66 for a net credit of 1.34.
#SPX7dteLong The trade is currently in the dead zone so trying to leg out for profit. Looking for a drift higher into the day, but no idea whether we’ll get it.
Sold to close $SPX Oct 2nd 3340/3320 put spreads for 6.50. Waiting to sell 3350/3370 call spreads.
Condors bought for 17.30 on Monday.
#ShortPuts #CoveredCalls – Assigned stock at 85 and have reduced basis to 65.80 so letting it get called away at 70 if the market holds today. Replacing with these…
Sold OSTK OCT 9 2020 70.0 Puts @ 1.60
#ShortPuts – Sold TSLA OCT 09 2020 375.0 Put @ 3.05
Sold $TQQQ 11/16 85 puts @ 4.50
#Jobs — below expectations
Gain of +661,000 non-farm payroll jobs, vs. expected 800K gain
Unemployment at 7.9%, down by 0.5%, vs. expected 8.2%
U6 unemployment at 12.8%, down by 1.4%
Labor force participation 61.4%, down by 0.3
Average hourly earnings up 0.1%, less than .04 increase in August
August jobs revised up by +118K to +1.49M
July jobs revised up by +27K to +1.76M
#coveredcalls
$NVTA BTC 10/16 and STO 11/20 40 calls at added 2.60 credit
#shortputs
$T STO 10/9/2020 28.50 put at .70
$PENN STO 10/9/2020 72 put at 2.60
$MRVL BTC 10/2/2020 40 put at .35. STO at 1.95
#bups
$NFLX BTC 10/16 455/465 BUPS at 1.29. STO at 3.45. Thank you @ramie77. No, I don’t know why I closed it.
#SPX1dte Sold to Open $SPX Oct 2nd 3255/3275-3450/3470 iron condors for 1.40, IV 23.8%, SPX 3373, deltas -.06,+.06.
Pretty wide condor given higher volatility and premium with Jobs report in the morning.
#ShortPuts – Got half my roll up credit from this morning. Delivery numbers tomorrow so hoping for a sell the news to re-enter…
Bought to Close TSLA OCT 02 2020 410.0 Put @ .55 (sold for 3.15)
#ShortPuts – Big rally so putting this one in the books and leaving the repair trade from previous post running…
Bought to Close NFLX OCT 16 2020 460.0 Put @ 2.21 (sold for 8.05)
#ShortPuts #ShortCalls #RepairTrade – Can’t believe I’m having to do the same repair trade I did a couple weeks ago. What seemed like a safe call on a short strangle is getting hit again. Swapping it for a 2×1 short strangle for next week.
Bought to Close NFLX OCT 2 2020 520.0 Call @ 7.15 (sold for 1.45)
Sold NFLX OCT 9 2020 492.5 Put / 570.0 Call (2×1) @ 8.80
The 2×1 now has 3.10 of profit in it after the short call loss. New short put strike at the expected move and under the 50ma. Short call is almost 2x the expected move.
Still holding Oct 16th 460 strike short put @ 8.05
Earnings is Oct 20th which is after all this so plenty of IV out there for future adjustments…
#ShortPuts – Bought to Close OSTK OCT 2 2020 67.5 Put @ .05 (sold for 2.20)
#SPX7dtelong Bought to open $SPX Oct 7th 3355/3375-3385/3405 iron condors for 17.55, with SPX at 3380.
Sold to open KSS Oct 02 2020 20 Covered Calls @ $0.17
Sold to open KSS Oct 02 2020 20.5 Diagonal Calls @ $0.07.
The stock is up a point today partly due to the surprise move in BBBY after a blowout earnings report.
I’ll roll these tomorrow if necessary.
Bought to close 1 WBA 10/02/2020 36.0 Put @ 0.28.
Sold this on 09/09/2020 @ 1.33.
Still short a WBA 10/16/2020 35.0 Put that was also sold on 09/09 @ 1.39
New Diagonals leading up to the election date
Bought to Open VXX Nov 06 2020 50 Call / Sold to Open VXX Oct 09 2020 27.5 Call @ 0.03 Net Credit.
Bought to Open VXX Oct 30 2020 39 Call / Sold to Open VXX Oct 09 2020 27.0 Call @ 0.03 Net Credit.
Also started new positions for next week:
Sold to open VXX Oct 09 2020 29 Call at $0.32
Sold to open VXX Oct 09 2020 28.5 Calls at $0.36
Sold these against existing Nov and Dec long Calls.
The VIX is making a bit of a run today in the face of an up market.
With these trades I’ve balanced out all my short calls and short puts.
All the positions are now “Short Calendar Iron Condor Spreads” according the Fidelity’s site until tomorrow’s expiration.
#ShortPuts – First time in this one. Going short term at near the all time low. Selling the expected move since the stock is already down 8 today.
Sold SNOW OCT 09 2020 220.0 Put @ 2.25
Bought to close VXX 10/02/2020 23.50 Puts @ 0.01.
They won’t trade any lower.
#ShortPuts – Looking at week prior to earnings for any new sales now. Selling outside the expected move and below 20,50, and 100 day moving averages and week prior to earnings.
Sold TDOC OCT 23 2020 187.5 Put @ 2.50
#ShortPuts -Rolling up slightly for additional credit.
Rolled TSLA OCT 02 2020 385.0 Put to OCT 02 2020 410.0 Put @ 1.10 credit (3.15 total now)
Dividend yield now 10.5 %.
I’m guessing a cut is in the future.
The question is, how far might it drop?
Rolled $PTON Oct-09-2020 100 #CoveredCalls // Oct-16-2020 103 @0.10 debit
(edited to fix the weeks)
Options Bistro 