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