RH currently trading @ $442
BTO RH Dec 18, 460 / 440 / 410 Broken Wing Put Butterfly @ $2.25 credit
No risk to the upside (keep the credit) – downside breakeven $415.
Going back to the well on this one (mea culpa) – but RH never goes down for long!
Monthly Archives: November 2020
AAL Covered Call
Sold 1 AAL Dec 18 2020 17.0 Call @ 0.17.
Bought the stock back on 3/17 @ 17.01 and I’ve been writing against it ever since.
NFLX
#ShortPuts – Stay at home stocks selling off a little again today. How low can they go? Once again selling outside the expected move and well below the 200ma. Also about 3 weeks prior to earnings so very rollable if needed…
Sold NFLX DEC 31 2020 425.0 Put @ 4.20
TSLA #jadelizard My Dec TSLA…
TSLA #jadelizard
My Dec TSLA Jade came off this morning for 50% profit, here’s a Jan reset:
$380 put (sell)/$740 call (sell)/$750 call (buy) $9.80 credit. $9.80 cr on a $10-wide call spread leaves $20 net risk to upside. BE delta is 9 on the downside. Basically risk free to upside.
Happy Thanksgiving!
Sue
PFE Call Was Exercised
$PFE 11/20 39 call
Stock closed at adjusted price of 38.88. Call holder
exercised at 39. Stock called away. Previously reported as expired. Ooops!
TDOC
#ShortPuts – Selling at the expected move, near recent lows and below the 200ma…
Sold TDOC DEC 24 2020 170.0 Put @ 2.96
WBA
Early roll to get the strike where I want it.
Bought to close WBA Nov 27 2020 38.5 Calls / Sold to Open WBA Dec 04 2020 40 Calls at $0.02 Credit.
Did a lateral roll out 2 weeks just before the Ex-Div date and before the Amazon announcement that tanked the stock.
I think the stock recovers by year end barring a sharp market selloff
IIPR
R
BTC December 18, 100 puts at .05, sold at 2.20
OptionsExpiration
BOOT #coveredcalls 35 call, #assignment, finally profitable on a long suffering position
GPS #coveredcalls 25 call
NKTR #shortputs 16 put
FEYE #shortputs 13 put
MRNA #shortputspread 65/70
M #shortputs 8 put 5 put
NKLA #shortputs 15 put
OXY #shortputs 8 put
DKNG #shortputs 40 put
WBA #shortputs 35 put
CCL #shortputs 12 put
UAL #shortputs 35 put
UNG #shortputs 8 put
CCL #coveredcalls #assignment 16 call
CNQ #coveredcalls #assignment 20 call
M #coveredcalls #assignment 8 call
OptionsExpiration
Expired:
WSM 92.5 / 97.5 – 110 / 115 Call (Unbalanced Iron Condor 1 x 2) – keep the $3.73 credit
TWLO 220 / 240 / 250 Put Butterfly – keep the $0.86 credit
RH 340 / 360 / 370 Put Butterfly – keep the $3.15 credit
IBB 137 Put / 143 Call strangle – keep the $8.45 credit
ZM 440 / 450 Put – 680 / 690 Call (Iron Condor) – closed out the ITM put spread for $7 debit. Glad it was only 1 contract!
Assignments:
BABA 292.5 / 312.5 / 322.5 long Put spread – $10.00 credit – (part of 292.5 / 312.5 / 322.5 BWB Put Butterfly that was split up with the ITM 312.5 / 292.5 ITM short put spread rolled out to January (see here )
PFE 38.5 Call – exercised, so my PFE stock called away – a messy change of option contracts due to the merger/demerger. Happy to have this cleaned up.
Expiration
#optionsexpiration
$TQQQ 35 put Thank you @jsd501
$NVTA 45 put
$TDOC 170 put Thank you @fuzzballl
$RDFN 55 calls
$NEO 50 calls
$VSTO 25 calls
$TLRY 9 calls
PFE 39 calls
$NVDA 535 calls
$DKNG 45 put
$DKNG 40 put Thank you @thomberg1201
$NEO 40 put
$PSTG 17.5
$VSTO 20 put
$T 26.5 put
$OLLI 82.5 put
$LI 22.5 put
$LI 25 put
$FTCH 44 put
$PLUG 23 put
VXX After the bell
Sold these to balance out some of my short puts with VXX @ 18.60
VXX Nov 27 2020 21.5 Calls at $0.1833
VXX Nov 27 2020 22 Calls at $0.15
VXX Nov 27 2020 22.5 Calls at $0.12
I have short Puts at these strikes that are currently ITM.
FYI
Markets will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Friday, November 27, 2020, and are closed Thursday for Thanksgiving.
Options Expiration
Options Expiration / Assignment.
OA $USO Nov-20-2020 29 #CoveredCalls. Stock closed at 29.29 so this will be assigned.
SPX trades
#SPX1dte Sold to Open $SPX 3470/3490-3630/3650 iron condors for 1.20, SPX at 2566, IV 12.09%, deltas -.07,+.06
Expiring: Nov 20th 3485/3505-3640/3660 condors, sold yesterday for 1.15
#SPX7dteLong Expiring at max credit of 20.00: Nov 20th 3620/3600 put spreads. Condors bought Monday for 16.35.
#VIXIndicator The Upside Warning is not producing much yet, but the VIX action is so anemic that I don’t think we should be doubting it yet.
AAL
Sold 1 AAL Dec 11 2020 15.0 Covered Call @ 0.25.
Pretty good premium with the stock down at 12.50
VXX Put Roll Down
Bought to close VXX Nov 20 2020 18.5 Puts / Sold to Open VXX Nov 27 2020 18.0 Puts at $0.19 Credit plus I lowered the short strike 0.50.
Of course the minute I did this, the SPY dropped and VXX went to the high of the day
Now only waiting for my six short strike 18.0 Puts expire in an hour
#coveredcalls SNAP Bought 100 shares…
#coveredcalls SNAP
Bought 100 shares and sold Nov. 27, 44 call for 42.72.
#closing #jadelizard WYNN Nov. 12,…
#closing #jadelizard WYNN
Nov. 12, sold a post earnings Dec. 18, 77.50/90/92.50 for 3.50, closed today for 2.28
#jadelizard GME Sold Dec. 18,…
#jadelizard GME
Sold Dec. 18, 10/14/15 for 1.13
#tastytradefollow
TSLA
#ShortPuts – In a different account than today’s earlier sale…strictly a play on entering the S&P so way more directional than I usually go. Stops set on very profitable Dec 4th 400.0 and Dec 11th 325.0 strikes sold earlier so adding this on today’s slight weakness.
Sold TSLA DEC 18 2020 450.0 Put @ 18.55
Closing nat gas position
Bought to close $BOIL 12/18 60/70 bear call spread @ .10. Sold for 1.30 on 8/5. Nice profit but almost 4 months to get there even as the underlying was mostly trending down since August. Low liquidity played a big part as well, not allowing me to get out for a decent price. Finally able to take it off today. Barring any crazy moves in nat gas, I will probably avoid this one going forward.
VXX Roll
Bought to close VXX Nov 20 2020 20 Puts / Sold to Open VXX Nov 27 2020 20 Puts at $0.27 Credit.
Short trading week next week.
SPY Roll
Bought to close SPY Nov 20 2020 349 Call / Sold to Open SPY Nov 27 2020 350 Call at $0.15 Credit plus a 1 point bump in the short strike
SLB Covered Call Rolls
Bought to close SLB Nov 20 2020 19.0 Calls / Sold to Open SLB Nov 27 2020 19.0 Calls at $0.09 Credit.
Bought to close SLB Nov 20 2020 19.5 Calls / Sold to Open SLB Nov 27 2020 19.5 Calls at $0.20 and 0.22 Credit.
Bought to close SLB Nov 20 2020 20.0 Calls / Sold to Open SLB Nov 27 2020 20.5 Calls at $0.02 Credit but added 0.50 to the short strike (which is now OTM)
ADS
Last Friday I rolled my short calls up to 67.50 @ 1.30 for this week. Today I closed those @ 0.95.
In their place I sold ADS Nov 27 2020 70.0 Calls @ 1.10.
With the post-Covid high of 71.50 on the stock I don’t think I’ll have to roll up again.
Considering that the stock then dropped below 67.50 I might have done better by showing more patience and waiting for the last hour.
AAL
Rolled $AAL Nov-20-2020 13 #CoveredCalls // Dec-18-2020 14 @0.40 Credit.
Didn’t mean to go out to December, dammit.
OSTK
#CoveredCalls – Rolling but keeping a little downside protection…
Rolled OSTK NOV 20 2020 56.0 Calls to DEC 04 2020 57.0 Calls @ 1.20 credit
SPX 7-dte
#SPX7dteLong Sold to close $SPX Nov 23rd 3615/3595 put spreads for 15.00. Leaving call side to close later today or Monday. Condors bought for 16.35 on Tuesday.
There’s a good chance this will end up in trouble if market rises on Monday, so I’m getting out now for what will likely be break-even, if i can close call side on a spike higher this afternoon.
TSLA
#ShortPuts – Selling outside the expected move and below the 50ma…
Sold TSLA DEC 11 2020 400.0 Put @ 4.25
TQQQ
BTC November 20, 95 puts at .01
sold at 2.31
VXX Puts
Bought to Close VXX Nov 20 2020 17.5 Puts at $0.01 .
They won’t trade any lower.
The original trade was:
Bought to open VXX Jan 21 2022 5 Puts/ Sold to Open VXX Nov 20 2020 17.5 Puts at $0.02 and $0.05 Credit last Friday and on Monday.
I now own more 1 year long puts on VXX for free.
TSLA
In Striking Rebuke, Consumer Reports Finds Tesla Has Second-Worst Reliability Of Rated Cars.
I’m not surprised
https://www.zerohedge.com/technology/striking-rebuke-consumer-reports-finds-tesla-has-second-worst-reliability-all-automakers
WFC Covered Ladder
Sold WFC Nov 27 2020 28 Calls at $0.06
Sold WFC Dec 04 2020 28 Calls at $0.15
Sold WFC Dec 11 2020 28 Calls at $0.25.
WFC at 26
SPX 1-dte
#SPX1dte Sold to Open $SPX Nov 20th 3485/3505-3640/3660 iron condors for 1.15, SPX at 3578, IV 17.34%, deltas -.07,+.05.
VXX Put Rolls to next week
One less day to trade next week
Bought to close VXX Nov 20 2020 22.5 Puts / Sold to Open VXX Nov 27 2020 22.5 Puts at $0.22 Credit.
Bought to close VXX Nov 20 2020 20.5 Puts / Sold to Open VXX Nov 27 2020 20.5 Puts at $0.35 Credit.
Bringing in $Cash and buying time.
NVDA Earnings
#ShortPuts #Earnings – I’ll take ’em here…
Bought to Close NVDA NOV 20 2020 505.0 Put @ .35 (sold for 3.35)
Bought to Close NVDA NOV 20 2020 500.0 Put @ .30 (sold for 4.25)
AVGO Pre-Earnings
#ShortPuts – Selling at the expected move, below the 50ma and the week before earnings. Lousy fill…
Sold AVGO DEC 4 2020 360.0 Put @ 2.90
TWLO
STO January 15, 240 put at 5.40, stock trading at 298
AMD
STO January 15, 70 put at 1.10 with stock trading at 85
SONO
Rolled $SONO Nov-20-2020 15 #CoveredCalls // Dec-18-2020 22.5 @5.25 Debit for a 7.50 better strike.
#coveredcalls LB Sold Dec. 18,…
Sold Dec. 18, 40 call for 1.80. LB up after earnings.
SPXL
Rolled SPXL Nov-20-2020 60 #CoveredCall // Dec-18-2020 64 @0.60 Credit.
CRWD
STO January 15, 120 put at 4.20
#shortputspread NVDA Sold Dec. 18…
#shortputspread NVDA
Sold Dec. 18 455/465 for 1.40
#postearnings
#closing #shortputs NKLA Sept. 9,…
#closing #shortputs NKLA
Sept. 9, sold an Oct. 16, 20/30 put spread for 1.47 at exactly the wrong time as it went from around 50 that day to the teens. The long put worked out which is the difference in this trade. I closed the long put and went essentially naked to Nov. 20. Closed the position today with a little over $100 gain. NKLA has recovered to 26.
NVDA
#ShortPuts – Thanks @jsd501 for the post earnings idea…
Sold NVDA DEC 18 2020 450 Put @ 3.20
TQQQ
STO January 15, 80 put at 2.10
Digging In
#SPX7dteLong Added more to my $SPX Nov 25th 3615/3635 call spreads for 3.75. Bought the first batch much too early yesterday for 9.50. Sticking with the Upside Warning, although it faces quite an adversary in this Covid surge.
NVDA
STO January 15, 425 put at 5.05
TQQQ
#ShortPuts – Sold TQQQ JAN 15 2021 85.0 Put @ 2.55
TSLA Roll Call (Present) ;-) / PLUG Put
$TSLA BTC 11/20 490 call and STO 11/27 510 call for added 1.04 credit and extra $20 if called away. Sold against 12/18 450 calls.
$PLUG STO 11/20 23 put at .50.
Calculating risk associated with a collar trade
A friend asked me a question about risk and collar trades. I provided an answer, but then started doubting if the answer was correct.
Example:
BTO 100 shares of XYZ stock
BTO 1 Jan 2020 $100 PUT
STO 1 Jan 2020 $100 CALL
The entire transaction was done for $100 debit.
I said that if the position is held until expiry, there would be not risk (not counting fees).
Is that correct or did I miss something?
TGT,
STO December 18, 160 puts at 2.05
TQQQ,
STO January 15, 85 puts at 2.40
SPX trades
#SPX7dteLong Sold to close $SPX Nov 18th 3545/3565 call spreads for 19.75. Condors bought for 17.75 on Tuesday the 10th. The drop made me nervous enough to sacrifice $25 to avoid an ITM expiration.
#SPX1dte Expiring: 3520/3540-3660/3680 condors, sold yesterday for 1.30.
VXX Puts – early roll
Bought to close VXX Nov 20 2020 21.5 Puts / Sold to Open VXX Nov 27 2020 21.5 Puts at $0.30 Credit.
Taking in $Cash. Buying more time.
SPY Diagonal
Sold 1 SPY NOV 25 2020 $357 CALL / Bought 1 SPY DEC 11 2020 $380 CALL @ 4.75 Credit
PTON
Rolled $PTON Nov-20-2020 $125 #CoveredCalls // Nov-27-2020 110 @1.50 Credit.
Was earlier today and I could have probably gotten a bit more if I’d have waited.
SPX 7-dte
#SPX7dteLong Bought to Open $SPX Nov 25th 3615/3635 call spreads for 9.50, with SPX at 3610. Taking only call side for expiry one week from today, based on Upside Warning and usual lazy bullishness around a holiday week.
TQQQ
STO January 15, 90 put at 2.75, could have done better.
TQQQ
#ShortPuts – IV is jacked up nicely out around Inauguration day. Throwing this out as a starter hoping to add some lower…
Sold TQQQ JAN 15 2021 80.0 Put @ 2.00
Bring out your dead AAL WFC
Not dead yet
VXX Contango Special
Bought to open VXX Jan 21 2022 6 Puts / Sold to Open VXX Nov 27 2020 17.5 Puts @ 0.12 Credit.
Short DTE = 9
Long DTE = 429
https://www.zerohedge.com/markets/vix-has-new-event-nemesis
Closing TGT
BTC 12/4 155/177.50 strangle (earnings trade) @ 1.87. Sold for 4.11 yesterday.
SNOW
#ShortPuts – Bought to Close SNOW NOV 20 2020 230.0 Put @ .14 (sold for 2.80)
WKHS FTCH Put Closed
$WKHS BTC 11/20 20 put at .20. STO at $4.00 on 9/25
$FTCH BTC 11/20 41 put at .10. STO at $2.05 on 11/12
NVDA earnings analysis
#Earnings $NVDA reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
Aug. 19, 2020 AC +0.02%
May 21, 2020 AC +2.86%
Feb. 13, 2020 AC +7.02%
Nov. 14, 2019 AC -2.66%
Aug. 15, 2019 AC +7.25% Biggest UP
May 16, 2019 AC -2.28%
Feb. 14, 2019 AC +1.81%
Nov. 15, 2018 AC -18.75% Biggest DOWN
Aug. 16, 2018 AC -4.90%
May 10, 2018 AC -2.15%
Feb. 8, 2018 AC +6.69%
Nov. 9, 2017 AC +5.26%
Avg (+ or -) 5.14%
Bias 0.01%, no bias on earnings.
With stock at 537.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 501.81 to 572.19 (+/- 6.6%)
Based on AVERAGE one-day move over last 12 quarters: 509.41 to 564.59
Based on MAXIMUM one-day move over last 12 Q’s (18.8%): 436.31 to 637.69
Based on UP max only (+7.3%): 575.93
Open to requests for other symbols.
NVTA Put Closed
$NVTA BTC 11/20 45 put at .60. STO at 3.61. Another batch hopefully will expire Friday.
TQQQ
BTC November 20, 85 puts at .01
#assignment WBA August 17, bought…
#assignment WBA
August 17, bought 100 shares at 41.11 and sold a 41.50 call with the purpose of picking up the dividend. I received the dividend and WBA started going down. I sold calls and puts 6 times, called away on a 38c call missing the dividend. I would have rolled except for the Amazon effect. Total profit of $91.75.
Upside Warning in effect
Look out above… The $VIX low closes have fired an Upside Warning on the #VIXIndicator. Expect continued higher levels on $SPX in the coming days or weeks.
NFLX FTCH Put Closed / BABA BECS Closed
$NFLX BTC 11/20 450 put at .40. STO at 3.40. Thank you @fuzzballl
$FTCH BTC 11/20 38 put at .08. STO at 2.00.
$BABA BTC 11/20 330/320 at .20. STO at 2.50
COST – Unbalanced Condor (closeout)
Original trade for a $0.01 debit:
BTO 1 x COST Nov 20: $385 /$380 long PUT Vertical @ $ 2.45 debit
STO 2 x COST Nov 20: $375 / $370 short PUT Vertical @ $1.22 credit (x 2)
Closed out both verticals for a credit of $1.50.
Happy to avoid the gamma mashup for the rest of the week.
SPX 1-dte
#SPX1dte Sold to Open $SPX Nov 18th 3520/3540-3660/3680 iron condors for 1.30, SPX 3609, IV 15.75%, deltas -.07,+.06
TGT earnings
Sold $TGT 12/4 155/177.50 strangle @ 4.11.
#Earnings #TastyTradeFollow
Options Bistro 