Expiration

#coveredcalls
$PLTR 26
$FDX 265
$PENN 89

#shortputs
$RIOT 7.5

Expirations

$TQQQ 12/31 135 puts
$TQQQ 12/31 142 puts
$UVXY 12/31 12/17 bear call spread
$AMZN 12/31 2950/2940 bull put spread

Happy New Year everyone! Wishing a great, healthy, prosperous 2021 to the Bistro family.

OPTIONSEXPIRATION 2020

Last one for the year.
Tough year all around but not as tough as the 2018 VIX explosion/SVXY implosion.

EXPIRED:
VXX 12/31/2020 23.0/40.0 Bear Call Spread
WBA 12/31/2020 41.0 Covered Call

GILD 12/31/2020 56.5 Diagonal Put
INTC 12/31/2020 43.5 Diagonal Puts
VXX 12/31/2020 16.5 Diagonal Puts – Part of a #ContangoSpecial
VXX 12/21/2020 16.0 Diagonal Puts – Part of a #ContangoSpecial

ASSIGNMENTS:
NONE

SPX 1-dte STOPPED

#SPX1dte Earlier I thought I’d get cute and put this trade on early in the day to boost premium. I figured we ain’t going to move much in final hours of the year.

Ha!

Stopping out the call side, will post my fill.

Beautiful Website Sendoff

#Awesome @jeffcp66 #Healthy2021

Paris fireworks

TQQQ Strangle Rollout

Bought to close TQQQ Dec 31 2020 195.0 Diagonal Calls at $0.01. They won’t trade any lower.
Sold these @ 0.35 just 2 days ago.
Replaced them with TQQQ Jan 08 2021 200.0 Diagonal Calls at $0.55.

Bought to close TQQQ Dec 31 2020 150.0 Puts at $0.01. They won’t trade any lower.
Sold these @ 0.54 on 12/28.
Replaced them with TQQQ Jan 08 2021 145.0 Diagonal Puts at $0.57

So the total premium for the new 5-day strangle is $1.12 and it’s 10 points wider.
Third time writing against the Jan longs.
#TripleDIP

SPY Rollup.

This market just won’t stay down on expiration day.
Bought to close SPY Dec 31 2020 371.0 Call Net Credit / Sold to Open SPY Jan 08 2021 374.0 Call @ 1.05 Credit plus 3 more points on the short strike.

SPX

The BECS Thesis:
SPX is rarely above 15% above its 50-Week MA, and when it is, it doesn’t stay there for very long. Currently, it is 15.9% above that MA and has been as high as 16.7% above it at the recent ATH. The rubber band is pretty stretched, and should pull back at some point, even if it’s done by trading sideways while the MA catches up.

With SPX’s 50-Week MA having risen 43 points over the last month, I am projecting that that MA will be approximately 3261 in 4 weeks (it is 3218 now). Multiplying 3261 by 1.15 equals 3750. Padding that by a little for mom and the kids gets me up to 3800 for the short strike of a BECS.

The Trade:
#bearcallspreads
SPX Jan 29th (29 days)
STO 3800 / 3850 BECS for 18.25 (1 contract)
Capital Allocated: $5000
Potential Max Profit: $1825
ROC: 36.5%
Planned max loss: $1000
ROR: 182.5%

The Plan:
Upside breakeven is at about 3820 on the SPX, and my loss at that point (based on T-0) will be about $1000. If SPX reaches that point, I will roll up and double, based on my bearish thesis above.

EIGR

Several years ago I picked up shares of EIGR from a short put debacle on a biotech when some of us were at OMM. It is up 10% today. I don’t remember the biotech but could the EIGR ship be coming in?
Happy New Year!

LABU

#ShortPuts – Adding…

Sold LABU FEB 19 2021 65.0 Put @ 3.10

TSLA

#ShortPuts – Taking it a couple weeks early and prior to quarterly delivery numbers next week…

Bought to Close TSLA JAN 15 2021 450.0 Put @ .80 (sold for 4.50)

Happy New Year to the Bistro world!

Click Home/REFRESH above for the celebratory view!!!

Thanks to all for being part of this site, which just turned FIVE years old! Looking forward to another exciting year in 2021…

Below is a screengrab of my very first post, along with the first replies…. oh so long ago.

And for those of you just following but not writing posts, please email me at jpayne.rdb@gmail.com to become a Contributor if you’d like to write your own posts.

All the best!

Jeff

SPX 1-dte

#SPX1dte Sold to Open $SPX Jan 4th 3645/3665-3785/3805 iron condors for 1.25, SPX at 3730, IV at 10.8%, deltas -.06, +.06

Expecting to expire: Dec 31st 3650/3670-37703790 condors, sold yesterday for 1.15.

BIIB FSLR OSTK SNOW UVXY

#ShortPuts #CoveredCalls #ShortStrangles #OptionsExpiration – Some housekeeping today…

BIIB: Covered. Waiting for the March news about the new drug.
Sold BIIB JAN 15 2021 255.0 Call @ 5.20
Expiring: 260 Call (sold for 9.95)

FSLR: Aggravating. Coverd Calls run over. Letting stock go for a small loss. Replacing with these slightly bigger size.
Sold FSLR JAN 22 2021 87.5 Puts @ 1.10 and 1.15

OSTK: Selling calls for next week against stock that wil be assigned.
Sold OSTK JAN 8 2021 52.0 Calls @ 2.00

SNOW: Adjusting 300/430 strangle for decent credit.
Bought to Close SNOW JAN 8 2021 430.0 Call Side @ .05 (strangle sold for 7.58)
Rolled SNOW JAN 8 2021 300.0 Put to JAN 15 2021 290.0/345.0 Strangle @ 2.65 credit

Long story short: New position Jan 15 290/345 @ 10.18 credit

UVXY: Hedge for my hedge. Stock will be assigned @ 10.98 Selling covered calls at breakeven. Hope to roll on a volatility pop.
Sold UVXY JAN 8 2021 10.0 Calls @ 1.01

WFC Call Ladder Roll

Bought to close WFC Dec 31 2020 29.0 Calls / Sold to Open WFC Jan 08 2021 29.0 Calls@ 0.23 Credit.

GILD Put Ladder Roll

Bought to close GILD Dec 31 2020 57.0 Put / Sold to Open GILD Jan 08 2021 56.0 Put @ 0.29 Credit and lowered the strike price a point for only 1 more week.
That puts the strike price below the 52 week low.
In fact you’d have to go back to 2013 to find a lower price.
Dividend yield here is 4.80%

#coveredcalls FCEL BTO FCEL at…

#coveredcalls
FCEL
BTO FCEL at 11.97
STO FCEL CC, 19 Feb 25C for .73

TQQQ, BTC December 31, 142…

TQQQ, BTC December 31, 142 puts at .02 cents in my trading account and IRA. I am done for this year.