VIX flys

VIX up over 17% today

SPX trades

#SPX1dte. It is absolutely crazy. As soon as I mention that the SPX1dte strategy is doing well, I get slapped across the face. Was away from my screen for the big drop, exited near the bottom, and now watching as we finally get a bounce. What a horrible stretch I am stuck in.

Bought to close $SPX Jan 5th 4740/4720 put spreads for 13.50. Condors sold yesterday for 1.30.

#spx5dte

VXX Calls

Sold against my last two uncommitted long VXX calls
Sold 1 VXX Jan 07 2022 19.5 Call @ 0.58
Sold 1 VXX Jan 07 2022 20.0 Call @ 0.46.
My large offsetting position in short VXX 17.50 puts is looking pretty good right now.
#VXXContango

TSLA Put

Sold 1 TSLA Jan 07 2022 1015.0 Diagonal Put at 1.68.
I have a short call I’ve been rolling at the same strike, so no downside worries.
#OnlySpreads

Sourcing Investment Ideas

Based on the recent posting by Jeff about “sharing” I wanted to share a source I have been using for investment ideas. I am not affiliated in any way with the site other than a follower.

Site is CoveredCallAdvisor.com.

Author of the site does a great job of identifying covered call opportunities. In a typical month he will come up with five to ten trades. He posts on the same day he trades with detailed explanations on his reason and goal for the trade.

Although I don’t follow his trades exactly (I am a bit more optimistic on my strike prices) I feel he does an excellent job in finding the trades. I currently have five open positions following his trades (all covered calls). I typically roll my strikes and keep my positions open for longer periods of time. He is more of a single position strategy person and doesn’t roll very often. His success rate is amazingly high.

Check him out….it has been a good source for me.

Hope this can help someone make some money!

TWTR stock

Added a tiny new position in TWTR at $40.00.
Hate the company, not sure if the stock trade works out, but fits my #FallingKnife strategy.
Won’t buy again until $35

TQQQ

#ShortPuts – Already closed my regular position in this one so taking another shot.

Sold TQQQ JAN 14 2022 145.0 Put @ 2.65

RIVN Diagonal Put

Bought to open 1 RIVN Feb 04 2022 70.0 Put / Sold to Open 1 RIVN Jan 07 2022 90.0 Put at $0.52 Net Credit.
I’m already short a RIVN 107 Call I sold yesterday at $2.72, so ahead of the game so far.
#OnlySpreads

Markets

Getting serious out there as the DJIA finally joins the party to the downside.
The VIX is above yesterday’s peak.

LABU Put

Sold 1 LABU Jan 07 2022 32.0 Diagonal Put at $1.25. The yearly low for LABU is 31.90 (so far …)
#OnlySpreads

XBI

#ShortPuts – Adding.

Sold XBI FEB 18 2022 100.0 Put @ 2.15

SPX 5dte

#SPX5dte, Well, since the day I posted my recent success with the strategy, it has basically been a disaster. In the almost two years since I started this, there has never been such a string of expirations that end in or near the dead zone. I have been hesitant to stop because I’m quite sure that as soon as I do, it will become viable again. But I really don’t have any choice now. I still have trades on for Friday and Monday, but I have to stop placing new ones. I’ll take some time to assess the results and the strategy as a whole.

I will continue to trade with #SPX1dte, as that strategy is doing fine, despite some recent losses due to my mistakes.

I know some of you have followed me on this strategy, but don’t post your experience. I would ask that if you are doing this, to please comment with your experiences and trades. If you have learned from me or anyone on this site, and have had success by following, I think it is only fair that you return the favor and share your experience.

I say this because I got an email from someone saying they had followed me on SPX5dte and found some success with certain adjustments… adjustments that I had not thought of or used. I asked him to please post in the room and share, but he disappeared.

So please, if you learn and make money from following us, share your experiences!

TQQQ Put

Added to my position
Sold 1 TQQQ Jan 07 2022 150.0 Diagonal Put at $0.93.
I’m trying to force TQQQ down toward this strike so a bunch of my TQQQ short calls expire on Friday

SOXL

#shortputs

sto 7 JAN 2022 69 PUT @1.17

come on Mr. market
either, or!!

SPXL

#ShortPuts – Starter position at the 200 day.

Sold SPXL FEB 18 2022 115.0 Put @ 2.25

ARCB Put

#shortputs
$ARCB STO 2/18 85 puts at 1.70

Markets

Without comment

FIVihGnVUAM1uNZ

QQQ Feb

Going back in. Sold to open $QQQ Feb 18 360/370/415/425 iron condor @ 2.78.

VXX1 Puts

Starting to liquidate the long side of ancient #VXXContango trades. Sold my oldest lot and will try for higher prices.
Sold to close VXX1 Jan 21 2022 6.0 Puts at $1.65. Life of contract high since the reverse split on VXX.
Bought this on 05/29/2020 at $0.48.
Equals $6.60 on the newer strike 24 puts

BAX Stock

Sold my tiny bit of BAX at $88.32. Bought this former #FallingKnife on 08/05 at $74.00 and was never able to average down.

In within pennies of the 52-week low and the 52-week high was this morning.
Former #FallingKnife