IB has lifted all trading…

IB has lifted all trading restrictions, but implemented higher margin on those stocks.

TQQQ,

BTC at .01 on Friday.
57.5 puts, sold at 1.31
60 puts, sold ay 1.65
62.5 puts, sold at 1.10
62.5 puts , sold at 1.05 in my IRA
I was assigned PINS at 72.00 with cost basis of 69.05

XRT

https://www.zerohedge.com/markets/gamestop-distortion-sparks-massive-collapse-retail-etf-assets

Expiration

$AMC Jan-29-2021 14 #CoveredCalls, STO today @1.52.

Happy weekend all!

Expiration

#optionsexpiration

$DKNG 60 call
$WYNN 106 call
$NOK 6 call
$DKNG 58.5 call
$DKNG 57.5 call
$FDX 242.5
$TQQQ 62.5 put Thank you @jsd501 (Hope the shot went well)
$RKT 20 put
$PENN 95 put

OptionsExpiration

Expired:
SLB Jan 29 2021 23.50 Diagonals Calls
SLB Jan 29 2021 24.00 Diagonals Calls
SLB Jan 29 2021 24.50 Diagonals Calls

SPY Jan 29 2021 383.0 Diagonal Call
SPY Jan 29 2021 385.0 Diagonal Call

SQQQ Jan 29 2021 17.0 Covered Call

XRT Jan 29 2021 95.0 Diagonal Call

VXX Jan 29 2021 15.0 Diagonal Puts – #VXXContango
VXX Jan 29 2021 15.5 Diagonal Puts – #VXXContango

Assignments:
GME Jan 29 2021 50.0 Covered Call (a one day trade)

A very interesting week 🙂

SPX trades

#SPX1dte Sold to Open $SPX Feb 1st 3540/3560-3825/3845 iron condors for 1.25, SPX at 3726, IV 22.5%, deltas -.06,+.06

Expiring: Jan 29th 3660/3680-3870/3890 condors, sold yesterday for 1.15

#SPX7dteLong Expiring for max credit of 20.00: Jan 29th 3855/3835 put spreads. Condors bought for 16.55 on Monday

GME Diagonal Puts

Bought to open GME Feb 26 2021 5.0 Puts / Sold GME Feb 05 2021 15.0 Puts @ 0.05 Credit.
Stock at 315
Just hoping to pick up a long put with a longer expiration date for free.
GME eventually implodes once the #wallstreetbets crowd sees something else shiny

VXX major Call Rollups

Bought VXX Jan 29 2021 18.5 Calls / Sold to Open VXX Feb 05 2021 20.0 Calls @ 0.05 Credit – short 1.50 higher
Bought VXX Jan 29 2021 19.0 Calls / Sold to Open VXX Feb 05 2021 21.0 Calls @ 0.09 Credit – short 2.00 higher
Bought VXX Jan 29 2021 19.5 Calls / Sold to Open VXX Feb 05 2021 23.0 Calls @ 0.28 Credit – short 3.50 higher
Bought VXX Jan 29 2021 20.0 Calls / Sold to Open VXX Feb 05 2021 25.0 Calls @ 0.53 Credit – short 5.00 higher
Bought VXX Jan 29 2021 20.5 Calls / Sold to Open VXX Feb 05 2021 26.0 Calls @ 0.45 Credit – short 5.50 higher.

Done with VXX for this week.

Weird trade on GME

I was trying to game this a little (yeah yeah I know). With the spreads getting better that they were yesterday I decided to sell an iron butterfly for next week but legged into them to see if I could get more than the spread width, or match. It. Got filled on the $GME 2/5 195/190 bull put spread @ 2.62 and the 195/200 bear call spread @ 2.36, so total premium 4.98. Basically a free trade with a very narrow window/probability of profit. But I may be able to get out early in the week if the stock comes back down to 200. We’ll see.

GME

Damn – glad to be out of this
Bought to Close 1 GME Jan 29 2021 310 Call / Sold to Close GME Jan 29 2021 320 Call @ 1.00 Net Debit.
Since I put the spread on at a 2.00 point Credit, I’m thrilled with the $100 gain.

Very lucky this week 🙂 🙂 . Made $$ on all three of my GME Bear Call spreads.

AMC covered straddle

Market is mispriced? Bought stock at 12.99, STO March19 13 straddle for 14.65. Free money?

AMC

Opened a Feb19 8/15 Covered strangle for 3.90 debit.

LAZR

ShortPuts – Adding one.

Sold LAZR FEB 26 2021 25.0 Put @ 1.75

GME Puts closed

Bought to close GME 01/29/2021 31.0 Puts @ 0.01.
Sold these at 0.40 as part of a diagonal spread.

XRT

Greetings all. Been off for a little bit. Y’all may be onto this already. Given all the hoopla over GME price action, I just realized that XRT has an IVR of 88 and with an IV of 108. The IV is actually higher than TQQQs right now. One may consider this trade over GME. STO March 65 put for 2.65 in an IRA. Trying to get a 115/65/60 reverse lizard filled in a non-qual. acct.

BIIB

#CoveredCalls – Gonna hang on to it another week with earnings and maybe get a pullback. A day late on this roll. I hate pre-market news!

Rolled BIIB JAN 29 2021 257.5 Call to FEB 5 2021 257.5 Call @ 1.05 credit

GME Question

Why hasn’t the GME board authorized the issuance of a massive number of new shares to pay down all of it’s debt and put billions in the bank like Tesla has done multiple times?

PINS

#BullPutSpreads #CoveredCalls – A little early here too but just wanted to have it done and set.

Original trade was super bullish ITM BuPS playing directionally selling 80/75 @ 3.20 (direction obviously ain’t my thing 🙂 ) Earnings next week so nice premium to roll into.

Sold PINS JAN 29 2021 75.0 Puts @ 6.80 (leaving short for assignment)
Sold PINS FEB 5 2021 65.0 Calls @ 8.20 (will be covered after assignment)

New position is now stock @ a 61.80 basis covered @ 65. This will be my original 3.20 profit goal if called away next week.

TQQQ

#ShortPuts – Adding to the calendar ladder. Was early on this one.

Sold TQQQ FEB 19 2021 75.0 Put @ 2.80

SPY

#ShortPuts – Adding to the ladder well below the 200 day.

Sold SPY MAR 19 2021 315.0 Put @ 4.10

XRT

#LongPuts – More scalping. Now hoping for a huge GME rally into the close to get back in.

Bought 10 XRT JAN 21 2022 90.0 Puts @ 17.50 and 17.00
Sold 7 XRT JAN 21 2022 90.0 Puts @ 18.75 (rest of partial fill from earlier)

Bought 5 XRT JAN 21 2022 90.0 Puts @ 16.50 (filled at the open)
Sold 5 XRT JAN 21 2022 90.0 Puts @ 18.75

TSLA

below 800 for the first time since 01/07.
The shorts are winning on this one

GME Puts

Bought to close GME 02/05/2021 7.0 Puts @ 0.01. They won’t trade any lower.
Sold yesterday @ 0.25

I may try to resell.

AMC

BTO $AMC Jan-29-2021 14 #CoveredCalls @13.00

Edited to add: Small Position. Likely lots of risk. Not suggesting follows.

SLV

STO SLV 2/12 25/27/28 Jade Lizard for 1.42 . break even 23.6, about 50 ema, max return 6% of the risk

BuPS and short puts

STO today
SQ 5 Mar 190/185 for 1.32
DDD 5 Feb 37P for 2.90
SLV 19 Feb 25P for 1.56
SPCE 5 Feb 46P for 6.15

XRT

FWIW
The XRT 95 call expiring today is 0.70 bid / 1.00 ask with the stock at 88.40.

XRT

#LongPuts – Scalping around a bigger postion.

Bought 10 XRT JAN 21 2022 90.0 Puts @ 17.50 and 17.00
Sold 3 XRT JAN 21 2022 90.0 Puts @ 19.00 (partial fill)

WFC Calls

Bought to close WFC JAN 29 2021 $32.50 CALLS @ 0.01. Sold at 0.28 on a rollup last Friday
Bought to close WFC JAN 29 2021 $32.00 CALLS @ 0.01. Sold at 0.72 on a rollup last Friday.

O.T. I am leaving to…

O.T. I am leaving to get my vaccine shot over in Miami in a bit but my thoughts and prayers are with the hedge funds. See you next Monday.

GME Crazy

Sold to open GME Jul 16 2021 2.0 Puts at $0.37
Yes that is the correct strike price.
#GMECrazy

ps: today’s range on the option is 0.01 to 0.37
The wonder of limit orders.

WFC Covered Rollup

Rolled this week’s WFC 30.5 Covered Call up to next week’s 31.5 Covered Call @ 0.02 Credit.
This stock’s Ex-Dividend is 2/4

NVDA pre earnings

#ShortPuts – Selling the week prior. A little aggressive just inside the expected move but premium will be good if a roll is needed.

Sold NVDA FEB 19 2021 480.0 Put @ 7.50

SLB Covered Roll

Bought to close SLB Jan 29 2021 20.5 Calls / Sold to Open SLB Feb 05 2021 20.5 Calls @ 0.17 Credit.
I’ll keep rolling until the 2/16 Ex-Dividend date. At that point the call buyers will probably exercise that week’s covered call early taking me out of this stock in this account.

GME Bear Call spread

Bought to Open 1 GME Feb 05 2021 530.0 Call / Sold to Open 1 GME Feb 05 2021 520.0 Call @ at $2.50 Credit.
Seems like a decent chance of of making the profit since the short call is above all the trading so far.

GME Puts

Bought to close GME JAN 29 2021 $30.0 PUTS @ 0.01. Finally!!
It won’t trade any lower.
Sold @ 0.90 earlier in the week as part of a diagonal spread.
I now own the lottery ticket long put for free.

GME

Had an “I wish” order in an IRA sitting in all cash and it filled. Just saw this:

Bought 100 Shares of GME – Filled at $298.52
Sold to Open 1 Contract GME Jan 29 2021 50.00 Call -Filled at $250.52
Net Debit of 48.00 with a strike 50 covered call.
Good for a one day gain of $200 when assigned tomorrow.
( I used to do this kind of trade in TSLA a year ago. It worked 3 or 4 times)

After hour?

Does anyone trade before/after market, 0930-400?
I do not but, am interested.

Thanks

GME up again

Up to $338 in after-hours (from 197 close) after RobinHood says it will reopen trading on Friday.

I don’t know anything about…

I don’t know anything about this guy but ran across this column, as they say, not an endorsement or recommendation…

Retail Investors Are Beating Wall Street With GameStop’s Surge

Good overview of GME saga

https://www.theatlantic.com/ideas/archive/2021/01/why-everybody-obsessed-gamestop/617857/

SPX 1-dte

#SPX1dte Sold to Open $SPX Jan 29th 3660/3680-3870/3890 iron condors for 1.15, SPX at 3795, IV 23.2%, delats -.07,+.06

From The Schwab Web Site

Limits on certain transactions

In the interest of helping to reduce risk due to recent market volatility, we’ve put in place restrictions on certain securities. These restrictions may include increasing margin requirements or limiting certain types of transactions.

Now why can’t they put up a notice when their platforms aren’t working?

BBBY

Not great timing here. Oops…

https://www.marketwatch.com/story/bed-bath-beyonds-stock-tumbles-toward-a-record-loss-just-as-jp-morgan-chase-discloses-large-stake-2021-01-28?mod=mw_latestnews

LAZR

#ShortPuts – Just a starter in this expiration.

Sold LAZR FEB 26 2021 25.0 Put @ 1.50

Is it fair?

So criticism is abound today toward Robinhood for shutting off new positions in $GME (Game Stop) and others. Many of these retail traders that drove the stock up ONLY have Robinhood or other restrictive platforms, while hedge funds and others can trade shares in myriad ways without restriction. Plus, it is mostly retail traders who are LONG, and can still close their positions by selling… and the Hedge Funds are SHORT, so they want to see that selling happen.

I’m of two minds about this… on the one hand Robinhood is closing new positions to ALL traders… but the effect is that only the smaller guys are being restricted. Robinhood enticed and attracted smaller players to the market, and when these traders suddenly succeed in a huge play that damaged hedge funds, they are then cut off. But in another sense, this also protects novice traders from buying GME at $300, only to see it drop back to $20 in a few days or weeks (maybe).

What do you guys think? Should Robinhood be a fault? Will further action from Washington just drive brokers like RH out of business, limiting access to the smaller guys once again?

AOC, Rashida Tlaib Rip Robinhood Over GameStop Trading Restrictions

BABA

BTC $BABA Jan-29-2021 240/250 #BuPS @0.10. Was STO @1.25 1/22/2021.

Earnings 2/2.

#volatility Doe anyone have a…

#volatility
Doe anyone have a way to screen for the stocks with the highest IV or short term volatility?
Obviously GME would be on the list.
But what others?

SPX 7-dte

#SPX7dteLong Bought to Open $SPX Feb 3rd 3800/3820-3830/3850 iron condors for 17.55, with SPX at 3827.

Markets

ROBINHOOD ADDS AAL, CTRM, SNDL, OTHERS TO RESTRICTED TRADING

SPX BWB

BTO 2/3 3880/3890/3910 BWB for 0.75 credit.
GTC orders to close for $1 and $2 credit.

WFC Call Roll

Bought to close WFC Jan 29 2021 30.5 Calls / Sold to Open WFC Feb 05 2021 31.0 Calls at $0.17 Credit plus an extra 0.50 on the short strike.

Apex Clearing, who acts as…

Apex Clearing, who acts as the custodian of all tastyworks accounts, has informed us that the following symbols (AMC, GME, & KOSS) will be set to closing only order status immediately. You will only be able to submit orders to close out any open positions that you have in these symbols.

New opening orders will not be accepted at this time. We will update our clients should the clearing firm lift the Closing Only status in the near future.

Best,
The tastyworks Team

#closing LK LKNCY Jan. 6,…

#closing LK LKNCY

Jan. 6, 2020 I started trading LK ,the Chinese Starbucks competitor by successfully selling a 30 put, then a 36.50 put, a 40 put, by March a 30 put. There were financial shenanigans and a pandemic and I was assigned 100 shares at 30., LK was delisted and became LKNCY. I bought 100 shares in May at 2.08. I was a little early as it went below 1.00 in June. I sold the shares today at 13.21. If I include the early profitable put sales, I only lost about $130.00.
I don’t drink coffee.

GME Crazy

Sold 1 GME 02/05/2021 15.0 Put @ 1.01 with the stock at 200
#GMECrazy

ADBE

BTC $ADBE Jan-29-2021 435/445 #BuPS @0.10. Was STO @1.25 on 1/13.

Probably could have waited the day and a half, but… crazier things have bitten me with ADBE in the past.

#closing AAL Feb. 27, 2020,…

#closing AAL

Feb. 27, 2020, sold an April 20/20/22 ratio spread when AAL was around 28. AAL went to single digits. I closed the long and one short, rolled the short 20, 10 times to February. I closed it today, actually made about $150.

GME – Out with my Credit

On the way down …
Bought to Close 1 Contract GME Jan 29 2021 100 Call – Filled at $134.00
Sold to Close 1 Contract GME Feb 19 2021 150 Call – Filled at $134.00
Sold this spread for a 2.00 Credit so happy with the result.
Eliminates a $5k risk.

#closing #earnings AAPL Bought March…

#closing #earnings AAPL

Bought March 19, 115/125/165/175 #ironcondor for 2.57, sold yesterday for 3.15

XRT

#LongPuts – Trying to scalp around these a little. Only got a partial fill. (filled on all as I’m typing)

Sold XRT JAN 21 2022 90.0 Puts @ 20.00 and 20.25 (bought for 16.80 avg.)

TSLA Earnings

#JadeLizards #Earnings – Trying to rally back up to the call side so taking it for about half.

Boughtto Close TSLA JAN 29 2021 725.0/850.0/852.5 Jade Lizard @ 1.57 (sold for 3.25)

UVXY

Bought to close UVXY 01/29/2021 10.0 Diagonal Puts @ 0.01. They won’t trade any lower.
Sold these on 01/26 @ 0.23.
Another #UVXYContango Trade worked and my long June 2021 puts are now free and clear.

XRT

#LongPuts – Makes me a little queasy to even type this but I’m adding to a long put position out in Jan 2022. Prices are all over the place so give it some room on any orders. Not adding any short term put sales yet.

Bought XRT JAN 21 2022 90.0 Puts @ 15.00, 16.00, and 17.50

XRT

Switching from GME to XRT diagonals
Bought to open 1 XRT Feb 19 2021 120.0 Call /Sold to Open 1 XRT Jan 29 2021 95.0 Call at $0.32 Credit.
XRT @ 93 and the short expires tomorrow so rapid decay on that side.
Premium on the XRT short was 5.02

Will the GME game stop?

I hope everyone on Earth has now seen the dangers in selling short calls or stock. With the Natural Gas crash, and $SVXY, and now a bunch of Reddit geeks and $GME… I feel lucky to have escaped my earlier trading days when naked options were a regular part of my strategy. Even so, still got spanked badly last year with naked calls on $DRIP… that was my final gambit. Don’t be surprised if something like GME happens to the DOWN side on a high priced stock, imperiling naked put sellers.

GME Crazy

First Crazy fill of the day
Sold GME 02/05/2021 7.0 Puts @ 0.25

Better than a biotech going before the FDA
#GMECrazy

Reddit…Wallstreetbets….GME, AMC

www.cnbc.com/2021/01/27/reddit-group-wallstreetbets-behind-massive-gamestop-amc-run-ups-goes-private-invitation-required.html

#earnings #ironcondor AAPL Sold March…

#earnings #ironcondor AAPL #jadelizard AAL

AAPL Sold March 19, 115/125/165/175 for 3.15
AAL Sold Feb. 19, 17/17/19 for 2.35

Both #tastytradefollow

VXX

  • last one

Bought to open 1 VXX Mar 19 2021 45.0 Call / Sold to Open 1 VXX Feb 05 2021 22.0 Call @ 0.25 Credit.
The short strike is a point higher than my last trade for the same net credit.

At the same time I am liquidating my remaining VXX 03/19/2021 65.0 Long Calls (left over from old diagonal spreads) @ 0.86.
Acquired these on 01/14/2021 @ 0.34.

Downside Warning taking effect at the close

#VIXIndicator Over 25% higher at the close means new Downside Warning… we are likely to see lower prices in the coming days or weeks.

SPY

#ShortPuts – Adding one below the 200 day.

Sold SPY MAR 19 2021 325.0 Put @ 4.00

TQQQ

#ShortPuts – Didn’t last long. Was completely out for about 24 hours. Starting a little ladder. These are filling better than mid price also.

Sold TQQQ FEB 26 2021 70.0 Put @ 2.40
Sold TQQQ MAR 5 2021 65.0 Put @ 2.56
Sold TQQQ MAR 19 2021 60.0 Put @ 2.70

VXX again

Tiptoeing into next week’s short calls with another position:
Bought to open 1 VXX Mar 19 2021 45.0 Call / Sold to Open 1 VXX Feb 05 2021 21.0 Call @ 0.25 Credit.
The short strike is a point higher than my last trade for the same net credit.

At the same time I am liquidating 1/2 of my remaining VXX 03/19/2021 65.0 Long Calls (left over from old diagonal spreads) @ 0.62.
Acquired these on 01/14/2021 @ 0.34.

PTON,

Stock looks like it is breaking down so, I did a combo trade for March 19.
BTO 145 put x1
STO 130 put x2
BTO 125 put X1
I did this for a debit of 4.80