Life got in the way yesterday and missed rolling the short calls…assigned on DVN

https://coveredcallswithjeff.wordpress.com/2021/05/29/assigned-on-dvn-profit-of-1070-in-8-days-return-on-capital-of-4-4-or-200-annualized/

OptionsExpiration

Expired:
SQQQ 05/28/2021 14.00 Covered Call
TLRY 05/28/2021 18.00 Diagonal Calls
VXX1 05/28/2021 12.0 Diagonal Calls
VXX1 05/28/2021 12.5 Diagonal Calls
VXX1 05/28/2021 13.0 Diagonal Calls
VXX1 05/28/2021 13.5 Diagonal Calls
VXX 05/28/2021 36.20 Covered Calls
VXX 05/28/2021 42.00 Diagonal Call
VXX 05/28/2021 42.50 Diagonal Call
VXX 05/28/2021 43.00 Diagonal Calls
VXX 05/28/2021 46.00 Covered Calls
VXX 05/28/2021 50.00 Covered Calls
VXX 05/28/2021 52.00 Diagonal Call
VXX 05/28/2021 33.50 Diagonal Put

Assignments:
UVXY1 05/28/2021 6.50 Put (10 shares at 44.50 net cost)
UVXY1 05/28/2021 6.0 Puts (40 shares at 44.00 net cost).

VXX Puts rolled down

Rolled 1 VXX 05/28/2021 36.0 Put to next week’s 35.50 Put @ 0.19 Credit
Rolled 1 VXX 05/28/2021 35.50 Put to next week’s 35.0 Put @ 0.29 Credit
Rolled 1 VXX 05/28/2021 35.0 Put to next week’s 34.0 Put @ 0.03 Credit
Rolled 1 VXX 05/28/2021 34.50 Put to next week’s 33.50 Put @ 0.18 Credit

AMC Calls rolled Up

I really bit the big one on these spreads but at least I can roll the shorts one more week.
Rolled 1 AMC 05/28/2021 14.50 Call to 06/11/2021 15.00 Call @ 0.28 Credit
Rolled 1 AMC 05/28/2021 15.00 Call to 06/04/2021 15.00 Call @ 0.40 Credit
Rolled 1 AMC 05/28/2021 15.50 Call to 06/04/2021 16.00 Call @ 0.05 Credit
Rolled 1 AMC 05/28/2021 17.00 Call to 06/04/2021 18.00 Call @ 0.05 Credit.
After A HUGE run up early, the stock actually closed slightly down on the day, so there is hope that there are a lot of trapped buyers above tonight’s close.

LABU Put

Bought to close 1 LABU 05/28/2021 62.0 Put @ 0.05. It won’t trade any lower.
Sold for $2.62 last Friday on a rolldown.

TQQQ

Bought to close 1 TQQQ 05/28/2021 105.0 Call @ 0.01. Sold this week @ 1.03.
Bought to close 1 TQQQ 05/28/2021 95.0 Put @ 0.01. Sold this week @ 0.59

SPX trades

#SPX1dte SOld to Open $SPX June 1st 4175/4155 put spreads for 1.10. With Upside Warning firing at the close, I am bullish and sellijg only put side again. SPX at 4212, IV 6.6%, delta -.14

Expiring worthless: May 28th 4165/4145 put spreads, sold yesterday for .90

#SPX7dteLong Hoping for some close above 4215. I sold put side yesterday for 5.55. Not looking too promising.

SNOW

#ShortPuts – Couldn’t resist. Replacing the second one closed earlier.

Sold SNOW JUN 18 2021 225.0 Put @ 4.90

TQQQ,

STO July 9, 70 put at .91

TQQQ,

BTC May 28, 75 put at .01 in my IRA, sold at 1.22

SOXL Put Partial Close

#shortputs
$SOXL BTC 6/18/37 put at 1.90. STO at 6.60. Thank you @fuzzballl

VXX1 Puts

Rolled VXX1 May 28 2021 9.0 Puts to VXX1 Jun 04 2021 9 Puts @ $0.12 Credit

LABU SNOW SOXL

#ShortPuts – Nice run on all these so taking profits.

LABU: Expires today but it can move so closing now. Still holding higher strikes.
Bought to Close LABU MAY 28 2021 62.0 Put @ .10 (sold for 1.85)

SNOW: Earnings. Looking to replace it now.
Bought to Close SNOW JUN 18 2021 205.0 Put @ 1.55 (sold for 4.10)

SOXL: Taking the bottom of the ladder early. Still holding higher strikes.
Bought to Close SOXL JUN 18 2021 32.0 Put @ .70 (sold for 2.25)
Bought to Close SOXL JUN 18 2021 33.0 Put @ .85 (sold for 2.70)

TQQQ

#ShortPuts – With almost 70 percent of max with 3 weeks to go gotta book it.

Bought to Close TQQQ JUN 18 2021 80.0 Put @ .68 (sold for 2.00)
Bought to Close TQQQ JUN 18 2021 82.5 Put @ .84 (sold for 2.36)

NVDA earnings

#ShortPuts #Earnings – Gotta take the quickie on the big move.

Bought to Close NVDA JUN 18 2021 555.0 Put @ 1.50 (sold for 4.70)

TWTR

#CoveredCalls #ShortPuts – Rolling and adding.

Rolled TWTR MAY 28 2021 54.0 Calls to TWTR JUN 18 2021 54.5 Calls @ .28 credit

Sold TWTR JUN 18 2021 55.5 Puts @ 1.04

ROKU

#CoveredStrangles – I was going to let the stock get called away but I think I’ll hold it for a few more weeks. Rolling covered call out and up pairing it up with a short put leaving a covered strangle. Adds another 3.95 of upside on the stock.

Rolled ROKU MAY 28 2021 317.5 Call to JUN 18 2021 320.0 Call @ 1.45 credit

SNOW

#ShortPuts – Missed the early dip. Selling the expected move and below the 50 day.

Sold SNOW JUN 18 2021 220.0 Put @ 3.30

NVDA earnings

#Earnings #JadeLizards – Big run today so taking the winner in case it continues up.

Bought to Close NVDA JUN 18 2021 575.0/640.0/650.0 Jade Lizard @ 7.38 (sold for 10.25)

LABU Put Close

#shortputs
$LABU BTC 5/28 66.50 put at 2. STO at 8.60

LABU Call

Rolled 1 LABU 05/28/2021 64.0 Call to next week’s LABU 66.0 Call @ $0.21 Credit

TYRY Puts

Bought to close TLRY 05/28/21 15.50 Puts @ 0.01.
Sold for $0.86 last Friday on a rolldown

LABU Put

Bought to close 1 LABU 05/28/2021 59.0 Put @ 0.05. It won’t trade any lower.
Sold for $1.63 last Friday on a rolldown

GME Call Rollups

Rolled 1 GME May 28 2021 210 Call to next week’s GME Jun 04 2021 215 Call @ $0.40 Credit.
Rolled 1 GME May 28 2021 220 Call to next week’s GME Jun 04 2021 230 Call @ $0.05 Credit

ALB SNOW Put / DAN Call / SNOW SOXL Put Close

#shortputs
$ALB STO 6/18 160 put at $4.00
$SNOW STO 6/18 205 put at $3.10 Thank you @fuzzballl
$SNOW BTC 5/28 215 put at .50. STO at 3.80. Thank you @fuzzballl
$SOXL BTC 6/18 33 put at 1.00. STO at 4.00. Thank you @fuzzballl

#coveredcalls
$DAN STO 6/18 28 put at .50

#tqqq sto TQQQ 25 JUN…

#tqqq

sto TQQQ 25 JUN 80 PUT @1.30 thanks/ jsd501

#tqqq btc TQQQ 28 MAY…

#tqqq
btc TQQQ 28 MAY 90 PUT @.02 /had sto@ 1.25

TQQQ,

STO January 2022, 55 put at 4.80

AMC – just wow

Bought to Open 1 Contract AMC Jul 02 2021 30.0 Call / Sold to Open 1 AMC Jun 04 2021 22.0 Call at $0.20 Credit.
A one month difference between the life of the short and the life of the long gives me ample time to make adjustments in the spread..
By a week from Friday, this run(up almost 40% today) could be history.

TQQQ,

STO July 16, 70 put at 1.39 in my IRA.

GME iron condor

Looking for some consolidation for a few days here after this runup. Sold to open $GME Jun 4 180/190/300/310 iron condor @ 2.40 with the stock around 240. A bonus day of time decay with the short week next week.

SPX trades

#SPX7dteLong Sold to close $SPX May 28th 4205/4185 put spreads for 5.55. Leaving call spreads for tomorrow. Condors bought for 15.10 on Monday.

Bought to Open $SPX June 2nd 4180/4200-4210/4230 condors for 14.25, with SPX at 4206. I think that’s the lowest I have ever paid. It is only 5 trading days given the Monday holiday.

#spx1dte

TQQQ,

STO June 25, 80 put at 1.25

VXX

Selling off some long Puts:

Sold to Close VXX1 Jun 18 2021 8.0 Puts Limit at $0.25. I’ve been in this lot almost a year and I’m selling 20% above my average cost.
This is only a tiny percentage of this long position as I was buying them as the long side on #VXXContango trades for many months.

Sold VXX1 Jun 18 2021 9.0 Puts Limit at $0.79, $0.84 & $0.90, with gains on all these trades.
Also only a portion of a bigger long.

SNOW earnings and post earnings

#ShortPuts – Taking the two day trade and adding a new one.

Bought to Close SNOW MAY 28 2021 215.0 Put @ 1.25 (sold for 4.10)

Sold SNOW JUN 18 2021 205.0 Put @ 4.10

ROKU

#CoveredCalls #ShortPuts – One annoying position and one new position.

Assigned stock at 450.0 and basis since reduced to 345.50 Leting stock get called away at 317.50 so a manageable loss to recover now. Starting a put selling replacement program on it.

Sold ROKU JUN 18 2021 320.0 Put @ 6.50

And a new position in a different account:

Sold ROKU JUN 18 2021 315.0 Put @ 5.10

LABU

Sold to Open 1 LABU May 28 2021 64.0 Call at $0.83.
Selling above the highest short put in this week’s ladder

Sky’s the limit?

#VIXIndicator The Downside Warning was canceled on Wednesday with the $VIX close. Two more closes below 18.28 and we’ll have an Upside Warning.

Update on SPY Ladder Strategy….lot of activity….not much to show for it yet….

The SPY Ladder Strategy is not contributing much to the account….so far. Hopefully things will improve with experience.

We started the ladder in Feb selling March IC’s. As we approach 21 DTE we close and open new positions 45-50 days out (if available). We have opened 302 positions……600+ trades including closing. So far Schwab is making more money than I am! Commissions are slightly higher than the profits so far.

What am I learning….

  1. It is really hard not to adjust….which I should not be doing. Adjusting takes incremental investment. The IC’s are each defined risk….and I should let them ride. I have rolled up the untested side on a number of occasions but the end result is narrowing the spread of the body. When the SPY moves in the other direction it doesn’t take long to put the rolled position under pressure.
  2. Need to establish wider “width” in the IC body. At least 30 delta. Premiums are much more attractive at 20…..always tempting to go narrower.
  3. Very hard to make money if volatility goes below 15 when establishing a new position. Need to be more disciplined and refrain from new positions with SPY IV at 12-13.
  4. Positions are carrying unrealized gain of $2,547……which is promising if we can realize a good percent of it.
  5. Schwab platform isn’t the easiest to work with when rolling spreads….figuring out how much a credit for the untested side so you know how much you can spend rolling up the tested side without incremental investment…time consuming with lots of “fiddling”. If you have suggestion on how to do this better in Schwab feel free to comment! It looks much quicker on TT….I have gotten quicker and now have an IC Roll Layout with two All-in-one boxes open on the right and the positions on the left.
  6. I started increasing the sizes….initially they were 2 and 3 contracts….now 5 to 8.
  7. Need to get better with establishing skewed positions…

Graph below shows the daily P/L for the strategy. Table on the right is profit and return. 8% annualized return needs to improve. Would like to get this to a minimum of 20%. Willing to take on higher risk (bigger positions) if the return can be improved.

Hope this is interesting for some of you. No plans to stop yet…….

#iron-condor, #spyladder

BIIB

#ShortPuts – Based on IV over the next few weeks BIIB must have some sort of a drug announcement coming. It’s still too early for earnings to drive that type of expected move. I’m treating it like an earnings type of event and selling the week before. Selling down at 6 month lows and at the expected move.

Sold BIIB JUN 4 2021 245.0 Put @ 3.20

biib

LABU Put Close

#shortputs
$LABU BTC 5/28 63.5 put at $#. STO at $7.59. Thank you @fuzzballl

NVDA earnings

#ShortPuts – A little more aggressive in a different account than yesterday. Going with the Lizard with no upside risk. A down move but less than expected would be perfect.

Sold NVDA JUN 18 2021 575.0/640.0/650.0 Jade Lizard @ 10.25

LABU

#ShortPuts – Adding one to average down a little.

Sold LABU JUN 18 2021 50.0 Put @ 2.20

SPX trades

#SPX7dteLong Sold to close $SPX May 26th 4170/4190 call spreads for 16.10. Leaving put spreads for later this morning. Cindors bought for 16.65 last Thursday.

Locking in just shy of breakeven, with put spreads still open. We still have not cleared the Downside Warning so market does not seem ready to take off again. I’m being more proactive with closure after a few weeks of poor results from waiting.

LABU

Bought to Open 1 LABU Sep 17 2021 35.0 Put / Sold to Open 1 LABU Jun 11 2021 55.0 Put at $0.75 Credit.
#OnlySpreads

Markets, GME, AMC

As the general market fades, meme stocks push higher.
Fading the move with diagonal Bear Call spreads

Bought to Open 1 GME Jun 11 2021 310.0 Call / Sold to Open 1 GME May 28 2021 210.0 Call at $0.95 Credit.
Bought to Open AMC Jul 16 2021 25.0 Calls /Sold to Open AMC Jun 11 2021 16.0 Calls Net Credit at $0.17 Credit.

SQQQ

Sold 1 SQQQ Jun 18 2021 17.00 Covered Call @ 0.26

LABU Put

#shortputs
$LABU STO 9/17 40 put at 3.60. Thank you @jsd501 for the idea.

SLV

Sold to Open SLV May 28 2021 25.5 Puts at $0.27.
Looking to add long stock at a better price than today’s low

CLX

Putting this dividend paying SP500 stock on my watch list.
#FallingKnife with a new 52week low today

NVDA earnings (sort of)

#NVDA #Earnings – Going out a few weeks and selling closer to the 200 day and near recent lows. Also outside the expected move.

Sold NVDA JUN 18 2021 555.0 Put @ 4.70

TLRY

Sold TLRY May 28 2021 16.5 Covered Calls at $0.27 replacing strike 16.0 calls that expired Friday

SNOW earnings

#ShortPuts #Earnings – Earnings not until tomorrow but selling while it’s down a little.

Sold SNOW MAY 28 2021 215.0 Put @ 4.10

NFLX IC

BTC half of NFLX June 460/470/550/560 IC at 1.5, sold for 3.2

LABU,

STO January 40 put at 5.70

Closing IWM

Bought to close $IWM Jun 18 203/210/242/249 iron condor @ 2.05 for 50% of the profit (sold for 2.10)

SPX update

#SPX7dteLong Bought to Open $SPX May 28th 4185/4205-4215/4235 condors for 15.10, with SPX at 4208.

Expiring for max credit of 20.00: May 24th 4155/4175 call spreads, bought last Tuesday for 16.85

Last week, the 7-dte strategy saw three straight losses, further validating the need to leg out of these trades when opportunity is there.

TQQQ diagonal call spread

Bought to open 1 TQQQ Jul 16 2021 130.0 Call / Sold to Open 1 TQQQ May 28 2021 105.0 Call @ 0.08 Credit.
Hoping the 1o5 call sold for $1.03 expires Friday

TQQQ Put Close

#shortputs
$TQQQ BTC 5/28 75 put at .08. STO at 1.63. Thank you @jsd501

TSLA

#ShortCalls – Closed a short put earlier for a nice gain so no need to hold the risk on this.

Bought to Close TSLA JUN 4 2021 675.0 Call @ 2.36 (sold for 2.15)

Still holding a Jun 475 short put.

REGN

#ShortPuts – Selling at the expected move and near recent lows. Also, above the 20, 50, and 100 day moving averages.

Sold REGN JUN 18 2021 475.0 Put @ 4.20

TSLA

#ShortPuts – Nice run today so I’ll take almost half.

Bought to Close TSLA MAY 28 2021 560.0 Put @ 3.50 (sold for 6.75)

AMC

Sold AMC May 28 2021 14.5 Calls at $0.80.

AMC Entertainment’s (AMC) largest shareholder Wanda Group has sold most of its shares in the movie theater company, cutting its stake to 0.002% on a diluted basis following AMC’s recent capital raise.

According to a US Securities and Exchange filing Friday, Wanda Group, which formerly held a stake of more than 30% in the company, sold the shares in the open market in the period May 13 through 18 at around $14 per share. Following the sale, the Chinese conglomerate now owns 10,000 shares in AMC

#tqqq at close yesterday. STO…

#tqqq
at close yesterday.

STO TQQQ 28 MAY 90 PUT @1.25

SPX

BTO $SPX Jun-01-21 4160/May-28-21 4160 Call Calendar @4.5, soon after the close.

A little early, but that long weekend should be worth at least 4.5 in time premium, with a 125 point range for SPX to chop around.

Options Expiration

#OptionsExpiration – Turned into a pretty good week…

BIIB 245 Put (sold for 3.50)
SPOT 240 Call (sold for 5.00)
TSLA 575 Put (sold for 6.10)
TSLA 650 Call (sold for 8.25)

OptionsExpiration

A main monthly expiration as a bunch of long hedges roll off along with the latest shorts.

Expired:
LABU 05/21/2021 70/100 Bear Call Spread
LABU 05/21/2021 67/76 Bear Call Spread
LABU 05/21/2021 60/45 Bull Put Spreads
SQQQ 05/21/2021 13.0 Covered Call
SQQQ 05/21/2021 13.5 Diagonal Calls
TLRY 05/21/2021 16/32 Bear Call Spreads
TNA 05/21/2021 80.0 Diagonal Put
TQQQ 05/21/2021 85/55 Bull Put Spread
VXX1 05/21/2021 11.0/30 Bear Call Spreads
VXX1 05/21/2021 11.5/31 Bear Call Spreads
VXX1 05/21/2021 12.0/32 Bear Call Spreads
VXX1 05/21/2021 12.5/33 Bear Call Spreads
VXX1 05/21/2021 13.0/33 Bear Call Spreads
VXX 05/21/2021 42.0 Covered Calls
VXX 05/21/2021 43.0 Covered Call
VXX 05/21/2021 44.0 Covered Calls
VXX 05/21/2021 46.0 Covered Calls

UVXY

Last trade before the split
Bought to Close UVXY May 21 2021 4.5 Puts at $0.16. Breakeven with last week’s sale on a rolldown.
Sold to open UVXY May 28 2021 4.5 Puts at $0.42.

Hedged with long September Puts.

TQQQ

#ShortPuts – Starter for a new ladder in June.

Sold TQQQ JUN 18 2021 82.5 Put@ 2.36
Sold TQQQ JUN 18 2021 80.0 Put @ 2.00

SPX

Now SPX is close to the lower range for the day, so far…

STC $SPX May-21-21 4150/May-24-21 4150 Call Calendar 9.5

took most off. bought at 4.05 and added at 3.

TSLA

#ShortPuts #ShortCalls – Replacing this week’s.

Sold TSLA MAY 28 2021 560.0 Put @ 6.75 (in an IRA)
Sold TSLA JUN 4 2021 675.0 Call @ 2.15 (selling against Jun 21st 475 strike put)

TWTR

#CoveredCalls – Barely ITM so rolling another week for nice credit.

Rolled TWTR MAY 21 2021 54.0 Calls to MAY 28 2021 54.0 Calls @ .90 credit (1.95 total now)

SPOT

#CoveredCalls – Replacing this week’s.

Sold SPOT JUN 4 2021 237.5 Call @ 4.20

SOXL

#ShortPuts – Book,roll and add.

Bought to Close SOXL MAY 21 2021 34.0 Puts @ .20 (sold for 1.75 and 5.00)
Bought to Close SOXL MAY 21 2021 35.0 Puts @ .91 (sold for 1.74 and 4.00)

Rolled SOXL MAY 21 2021 36.0 Puts to JUN 18 2021 34.0 Puts @ 1.35 credit (3.90 total now)

Adding starters lower leaving room to aggressively add.

Sold SOXL JUN 18 2021 33.0 Put @ 2.70
Sold SOXL JUN 18 2021 32.0 Put @ 2.25

TLRY Puts Rolled down

Rolled TLRY May 21 2021 16.0 Puts to TLRY May 28 2021 15.5 Puts @ 0.04 Credit