#SPX5dte Sold to close $SPX Jan 10th 4770/4750 put spreads for 17.40. Condors bought Tuesday for 16.20. Saving call spreads for any possible run up we get into Monday.
Monthly Archives: January 2022
LABU Put Rolldown
Bought to Close LABU Jan 07 2022 35.0 Puts / Sold to Open LABU Jan 14 2022 34.0 Puts at $0.05 Credit and lowered the strike a point.
TNA Put Rolldowns
Bought to close 1 TNA Jan 07 2022 84.0 Put / Sold to Open 1 TNA Jan 14 2022 81.0 Put at $0.02 Credit but lowered the strike 3 points
Bought to close 1 TNA Jan 07 2022 86.0 Put / Sold to Open 1 TNA Jan 14 2022 84.0 Put at $0.02 Credit but lowered the strike 2 points
TQQQ Call Rollup
Bought to close 1 TQQQ Jan 07 2022 140.0 Call at $9.00. Sold last week on a roll at $33.17.
Replaced it with 1 TQQQ Jan 14 2022 143.0 Call at $9.44 for a $0.44 Credit and a 3 point better short strike.
TQQQ,
BTC January 14, 130 put at 1.10, sold at 3.10,just want to take some risk off the table.
December Jobs Report
#Jobs — Below expectations again; both measures of UE down again; upward revisions of past months again.
Gain of +199,000 non-farm payroll jobs, vs. expected gain of 422K.
Unemployment at 3.9%, down by 0.3 (vs. 4.1 estimate)
U6 unemployment at 7.3%, down by 0.5
Labor force participation 61.9%, up by 0.1
Average hourly earnings up 0.6%
October jobs revised up by +102K to +648K
November jobs revised up by +39K to +249K
TQQQ 1/14
Sold to open $TQQQ Jan 14 140 put @ 2.85
XBI Feb
Sold to open $XBI Feb 18 95 puts @ 1.80. Strike at 20 delta and at a level the underlying as seen in over a year and a half. IV very high (IV rank 65).
ARKK
#CoveredCalls – Another round.
Bought to Close ARKK JAN 7 2022 98.22 Calls @ .02 (sold for 1.39)
Sold ARKK JAN 14 2022 89.22 Calls @ 1.35
AAPL short puts
Sold to open $AAPL Feb 18 155 puts @ 1.90. Delta 16. Strike is near support, about 10 points below the 50 day moving average. ER 1/27.
SPX trades
#SPX5dte Sold to close $SPX Jan 7th 4790/4810 call spreads for .50. Sold puts for 16.00 yesterday so .55 profit on the condor.
TSLA
#ShortPuts – Had a chance to close this a few days ago for 90 cents but didn’t manage the winner. Gonna sit it out now with beer money.
Bought to Close TSLA JAN 21 2022 800.0 Put @ 3.33 (sold for 3.54)
TSLA June
Not quite a #FallingKnife with the stock technically still in an uptrend but with my short Jan 600 put likely to expire in a couple of weeks I thought I would take advantage of this increase in volatility to sell another longer term position.
Sold to open $TSLA 6/17 600 put @ 21.00.
XBI
#ShortPuts – Adding.
Sold XBI FEB 18 2022 95.0 Put @ 2.45
SPY
#JadeLizards – Taking half a couple weeks early.
Bought to Close SPY JAN 21 2022 425/473/478 Jade Lizard @ 2.36 (sold for 5.40)
Bought to Close SPY JAN 21 2022 435/473/478 Jade Lizard @ 2.77 (sold for 5.20)
LABU Early Assignment
Bought 200 Shares of LABU at $45.00 when my Jan 07 puts were exercised overnight.
After the $8.50 put premium my adjusted cost will be 36.50.
I’ll start writing covered calls there and roll up on the next bounce.
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.
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
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
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
FDX Stock
Sold my highest cost lot in FDX at $265.50.
Bought this right around #Earnings on 09/28 at $230.00.
I’ll hang on to my last purchase at $225.00 for a much bigger move.
Former #FallingKnife
SPX trades
#SPX5dte Sold to close $SPX Jan 5th 4795/4775 put spreads for 7.50. Saving call spreads.
TWTR
Twitter makes my #FallingKnife list as the stock approaches $40.
Haven’t bought any just yet.
Closing LABU
Bought to close $LABU Jan 7 30 puts @ .29
Closing QQQ
Was waiting for a decent pullback in the Nasdaq to get out of this. Bought to close $QQQ Jan 21 350/360/410/420 iron condor @ .92. Sold for 2.75 on 12/15.
NVDA pre earnings
#ShortPuts – Selling just outside the expected move and a couple weeks before earnings.
Sold NVDA FEB 4 2022 245.0 Put @ 3.40
FAS
#JadeLizards – Blowing out to the upside. Closing now for slightly better gain than holding and also releasing the margin.
Bought to Close FAS JAN 21 2022 95.0/130.0/134.0 Jade Lizard @ 3.42 (sold for 4.17)
SOXL TQQQ
#ShortPuts – Jumping back in after closing quite a few yesterday.
Sold SOXL JAN 21 2022 59.0 Put @ 1.60
Sold SOXL JAN 21 2022 60.0 Put @ 1.85
Sold SOXL FEB 11 2022 55.0 Put @ 2.70
Sold TQQQ JAN 21 2022 145.0 Put @ 2.70
Sold TQQQ FEB 18 2022 125.0 Put @ 3.77
VXX Calls
Created a new diagonal call spread to pair off with all the puts spreads I have for this week.
Bought to open VXX Jan 28 2022 37.0 Calls at $0.28
Sold to Open VXX Jan 07 2022 19.0 Calls at $0.32 for a net credit of $0.04.
Hoping for another couple of re-writes against the long after Friday.
VXX topped out at 18.42
TQQQ,
STO February 11, 120 put at 2.40
TSLA Put
Sold TSLA Jan 07 2022 885.0 Put at $0.52
A re-write against my long TSLA Jan 2022 710.0 put.
#DoubleDip
TQQQ,
STO February 4, 125 put at2.25
TQQQ Puts
Sold TQQQ Jan 07 2022 153.0 Diagonal Puts at $0.72
XLV Puts
Sold XLV Jan 07 2022 136.0 Puts at $0.37 and $0.42
A second write against some long March puts.
#DoubleDip
More VXX Puts
Sold VXX Jan 07 2022 17.5 Puts at $0.26.
Sold against existing long March 15.0 Puts.
I can roll the short if necessary.
VXX Puts
Sold a few VXX Jan 07 2022 17.0 Puts @ 0.08.
Will be watching these for further writes as the price rises.
I’ve got a huge bunch of LONG VXX1 (pre-split) Jan 21 2022 6.0 Puts that are currently in the money and have to be unloaded over the next 2 weeks, so I’m not too worried about the chance to write against them 1 more time.
LCID LABU Call
#coveredcalls
$LCID STO 1/7 45 call at .46
$LABU STO 1/7 41.50 call at .65
SPX trades
#SPX5dte Bought to Open $SPX Jan 7th 4760/4780-4790/4810 condors for 15.95, with SPX at 4783.
It’s getting KOLD again
Bought another KOLD Aug 19 2022 6.0 Put at $0.50.
Sold another KOLD Jan 21 2022 11.0 Put at $0.70.
Created another Bull Calendar Put spread with a $0.20 Credit.
Long DTE = 228
Short DTE = 18
NIO EXAS RCL TAN Call / TQQQ TSLA NVDA Put Close / TSLA ADBE BUPS Close
#coveredcalls
$NIO STO 1/7 36 call at .35
$EXAS STO 1/21 90 call at 1.65
$RCL STO 1/7 85 call at .60
$TAN STO 1/7 81 call at .45
#shortputs
$TQQQ BTC 1/14 105 put at .10. STO at 1.35.
$TQQQ BTC 1/21 125 put at .60. STO at 5.15.
$TQQQ BTC 1/21 90 put at .10. STO at 1.30 . Thank you @jsd501
$TQQQ BTC 1/21 125 put at .05. STO at 4.75 .
$TSLA BTC 1/21 630 put at .60. STO at 4.10.
$NVDA BTC 1/21 235 put at .55. STO at 3.95. Thank you @fuzzballl
#bups
$TSLA BTC 1/21 840/890 BUPS at 1.20. STO at 11.98 on 11/23
$TSLA BTC 1/21 820/875 BUPS at 1.00. STO at 18.83 on 12/21
$ADBE BTC 1/21 505/525 BUPS at 1.20. STO at 4.00 on 12/16 Thank you @ramie77
TQQQ,
STO January 28. 125 put at 1.20
SVXY
#ShortPuts – This experiment was a success. Markets not that great but at least tradable.
Bought to Close SVXY JAN 21 2022 48.0 Put @ .32 (sold for 2.00)
Bought to Close SVXY JAN 21 2022 50.0 Put @ .41 (sold for 1.90)
SOXL
#ShortPuts – That didn’t work…so much for stirring things up. LOL
Bought to Close SOXL JAN 7 2022 67.5 Put @ .85 (sold for 2.00)
ROKU
#ShortPuts – Happy to take this. 3.60 of it was a repair trade and everything else profit.
Bought to Close ROKU JAN 7 2022 215.0 Put @ 1.00 (sold for 5.25)
Closing ADBE
Bought to close $ADBE Jan 21 525/505 bull put spread @ 1.50. Sold for 4.15 on 12/16
SOXL TQQQ
#ShortPuts – Taking a few off if they’re over 80 percent with at least 3 weeks still to run.
Bought to Close SOXL JAN 14 2022 55.0 Put @ .34 (sold for 2.70)
Bought to Close SOXL JAN 14 2022 57.5 Put @ .50 (sold for 3.00)
Bought to Close SOXL JAN 21 2022 53.0 Put @ .57 (sold for 3.80)
Bought to Close SOXL JAN 21 2022 55.0 Put @ .70 (sold for 3.20)
Bought to Close SOXL JAN 28 2022 50.0 Put @ .67 (sold for 3.80)
Bought to Close TQQQ JAN 14 2022 130.0 Put @ .33 (sold for 3.25)
Bought to Close TQQQ JAN 21 2022 125.0 Put @ .60 (sold for 3.75)
LABU Calls
Sold LABU Jan 07 2022 42.0 Diagonal Calls at $0.65, replacing similar calls that expired Friday.
#OnlySpreads
CCL NCLH
Apparently, nobody cares about the CDC warning on cruise lines anymore
CCL up 6%
NCLH up 5%
VXX Strangles
Sold VXX Jan 07 2022 20.0 Diagonal Calls at $0.23
Sold VXX Jan 07 2022 20.5 Diagonal Calls at $0.16
Sold VXX Jan 07 2022 17.5 Diagonal Puts at $0.16 and $0.17
Ancient VXX1 Puts closed
Sold to close VXX1(pre-split) Jan 21 2022 7.0 Puts at $2.55, a new contract high since the split. They are rapidly approaching expiration.
Bought these back in June 2020(yes 2020, not 2021) at $0.67 as the long side of a #VXXContango spread. They were free after the first week.
#VXXContango at work.
Tidbits from Twitter
$SVXY (-0.5x VIX) returned 49% in 2021. 8% was due to lower $VX futures; 41% was due to rolls.
$VXX (+1x VIX) returned -72% in 2021. -16% was due to lower $VX futures; -56% was due to rolls.
IB Account in 2021
Good morning and best wishes for a successful year of investing in 2022.
Despite best efforts my covered call efforts failed to beat the SPX in 2021. I was ahead until Omicron impact in Nov/Dec. Made some money….but it would be nice to see the time and effort result in a return higher than the index. Maybe this year!
Options Bistro 