I came across this video. Thought to share it here.
Lost $30,000 on a $1-Wide Credit Spread – TSLA (Options Traders MUST Watch This)
Daily Archives: Wednesday, December 2, 2020
GMHI and LAZR
Here’s one to keep an eye on. My ex’s hubby is an engineer at Luminar. They make the lidar radar for self driving cars. BTW TSLA does not use lidar. All cameras and computers instead.
SNOW Earnings
SNOW Earnings
#ShortPuts #Earnings – I’ve got one account that’s nearly all cash so going pretty aggressive here. Looking out to the monthly expiration and selling below the 50ma and with breakeven at the expected move. First earnings announcement for SNOW so who knows where it goes…
Sold SNOW DEC 18 2020 250.0 Put @ 6.00
EDIT: Since this is it’s first ever announcement buying a disaster put for this week…
Bought SNOW DEC 4 2020 225.0 Put @ .50
SPX trades
#SPX7dteLong Sold to close $SPX Dec 2nd 3630/3650 call spreads for 19.10, to avoid any possible dump into the close. Iron Condors bought last Wednesday for 16.00; sold today for a total of 20.35.
#SPX1dte Expected to expire: 3575/3595-3710/3730 condors, sold yesterday for .90.
VIX
TSLA
#ShortPuts – I normally wouldn’t get quite this aggressive but next week’s look pretty safe so taking advantage of the drop today and selling right at the expected move.
Sold TSLA DEC 24 2020 460.0 Put @ 9.80
LABU, BTC December 18, 35…
LABU, BTC December 18, 35 puts at .05, Sold at 1.90, not much chance of getting assigned but with over 2 weeks to go why not take the risk off the table for .05 cents.
#shortputs FCEL Sold Jan. 15,…
#shortputs #coveredcalls FCEL
Sold Jan. 15, 5.5 put for .72. FCEL down 18% today to 7.39.
#tastytradefollow
Bought 100 shares and sold a Dec. 18, 7 call for 6.00
#closing PYPL Following the good…
#longcallspread HD Bought a Jan….
Bought a Jan. 15, 270/280 call spread for 4.38.
This is a “TP says” pick from TastyTrade. He has 4 trades each week, I follow some. Like anyone else, he is right sometimes.
PYPL, BTC December 18, 170…
PYPL, BTC December 18, 170 put at .27, sold at 1.61
TSLA (Diagonal Jade Lizard?)
#JadeLizards – Not sure what this is really called. Selling a call spread two weeks out and a put one week out. No upside risk and possibly allowing an extra put sale the second week. Slightly bullish overall…
Sold TSLA DEC 11 2020 475.0 Put @ 3.40
Sold TSLA DEC 18 2020 590.0/595.0 Bear Call Spread @ 1.67
WBA
Since March the 50 Day MA has acted as resistance. Now the stock is above the 50Day. Hopefully it will now act as support.
AMD, BTC January 15, 70…
AMD, BTC January 15, 70 puts at .34, sold at 1.10
SPX 7-dte
#SPX7dteLong Bought to Open $SPX Dec 7th 3635/3655-3665/3685 iron condors for 15.65, with SPX at 3659. Forgot to buy this one yesterday.
NVDA
#ShortPuts – This was originally a pretty conservative sale. Rolling up for a little more credit as it tries to break above the 50ma. Still outside the expected move.
Rolled NVDA DEC 18 2020 450.0 Put to DEC 18 2020 490 Put @ 2.60 credit (5.80 total now)
ZM put spread
Sold 1/15 360/350 bull put spread @ 2.60
GDXJ, BTC February 40 put…
GDXJ, BTC February 40 put at .62, sold at 1.05
I am thinking that Bitcoin may be replacing gold as an asset class. I do own 100 shares of GBTC and have a monster profit of $286.00
ZM
#ShortStrangles – Just to hopefully take advantage of the big selloff a little more rolling a put in and up to get to expiration sooner. New sale is at the expected move and offset by the earlier call sale.
Rolled ZM DEC 31 2020 325.0 Put to DEC 18 2020 360.0 Put @ 1.40 credit (5.60 total now)
VXX Contango special result
Bought to close all of my VXX Dec 04 2020 16.00 Diagonal puts @ 0.01. They won’t trade any lower.
On 11/27 I sold these while buying VXX Jun 21 2021 6.0 Puts @ 0.03 Credit. So now I’m left with more “free” long puts with 198 days until expiration.
Normal Contango drift down in VXX should take care of the long position.
Or consider it a lottery ticket.
Will repeat this kind of trade for next week too.
TQQQ
STO December 11, 160 put at 6.20,
GDXJ
#ShortPuts – Got well over half of this with a long way to go. Looking for a re-entry at some point.
Bought to Close GDXJ JAN 15 2021 42.0 Puts @ .29 (sold for .90)
ZM
#ShortStrangles – Selling against various short puts. 2 times the expected move and above the 20 and 50 day moving averages.
Sold ZM DEC 11 2020 500.0 Call @ 2.40
SPY Call Roll
Bought to Close 1 SPY Dec 02 2020 358 Call / Sold to Open 1 SPY Dec 09 2020 359 Call @ 0.45 Credit plus a 1 point higher strike.
At some point I’m going to have to roll my long Dec 18 2020 355.0 calls forward.
SPX 7-dte
#SPX7dte Sold to close $SPX Dec 2nd 3620/3600 put spreads for 1.25. Banking on 3630/3650 call side to make the bulk of profit. Condors bought last Wednesday for 16.00.
Options Bistro 