#CoveredCalls – Some late fills.
Rolled TQQQ FEB 4 2022 57.5 Calls to TQQQ FEB 11 2022 60.0 Calls @ .15 credit (1.55 total now)
Bought to Close TQQQ FEB 4 2022 59.0 Calls @ .21 (sold for 2.10)
Bought to Close TQQQ FEB 4 2022 60.0 Call @ .05 (sold for 2.50)
Sold TQQQ FEB 11 2022 59.0 Calls @ 2.74
Sold TQQQ FEB 11 2022 59.0 Call @ 2.85
Sold TQQQ FEB 18 2022 64.0 Calls @ 1.51
Bring the gamma!
Tuesday and Thursday expiries coming to the $CBOE $SPX https://t.co/dcHHNsXYXv—
Pat Hennessy, CMT (@pat_hennessy) February 04, 2022
Reacting to the severe drops in stocks like LABU, RIVN, TNA and TQQQ, I spent most of the week setting up diagonal bear call spreads that all worked to give me some cash flow.
A partial recovery in the market today also helped me to roll my puts in these for small credits.
And once again, I threaded the needle by having VXX close above 20 and below 21.50 and all the VXX puts and calls expired (along with some old long VXX calls left over from previous spreads).
Expired:
LABU 25.0 Covered Calls
LABU 17.0 Diagonal Puts
RIVN 160/74 Bear Call Spread
RIVN 85/73 Bear Call Spread
RIVN 85/72 Bear Call Spread
RIVN 80/67 Bear Call Spread
TNA 105/67 Bear Call Spread
TNA 80/67 Bear Call Spread
TNA 79/67 Bear Call Spread
TNA 66.0 Diagonal Call
TQQQ 75/69 Bear Call Spreads
TQQQ 75/67 Bear Call Spread
TQQQ 74/66.5 Bear Call Spread
TQQQ 66.5 Diagonal Call
TQQQ 66.0 Covered Call
TQQQ 65.5 Covered Call
TQQQ 65.0 Covered Call
VXX 40/29 Bear Call Spread
VXX 39/28 Bear Call Spread
VXX 39/27 Bear Call Spread
VXX 38/26 Bear Call Spread
VXX 38/25.5 Bear Call Spread
VXX 37/25 Bear Call Spread
VXX 36/25 Bear Call Spread
VXX 35/25 Bear Call Spreads
VXX 34/24.5 Bear Call Spreads
VXX 33/24.5 Bear Call Spreads
VXX 32/24.5 Bear Call Spreads
VXX 31/24.5 Bear Call Spreads
VXX 24.0 Diagonal Calls
VXX 23.5 Diagonal Call
VXX 23.0 Diagonal Calls
VXX 22.5 Diagonal Calls
VXX 22.0 Diagonal Calls
VXX 21.5 Diagonal Calls
VXX 20.0 Diagonal Puts – #VXXContango
VXX 19.5 Diagonal Puts – #VXXContango
VXX 19.0 Diagonal Puts – #VXXContango
XLV 131.0 Diagonal Puts
Assignments:
Only 1, and it happened last night
1 TNA 80.50 Put
#SPX1dte Sold to Open $SPX Feb 7th 4385/4405-4595/4615 condors for 1.70, SPX at 4513, deltas -.06 +.06
Expiring: 4335/4355-4590/4610 condors, sold yesterday for 1.55
Decided to go 7 weeks out to start the ladder. Also planning to be aggressive with this ladder to try to keep up with the growth of SPY.
Sold SPY March 25th 2022 450 Put @ 13.00
Bought to close 1 TSLA Feb 04 2022 860.0 Put at $0.01. Sold last week on a rolldown after earnings at $50.92
All my short puts are gone.
Bought to close TSLA Feb 04 2022 900.0 Call / Sold to Open 1 TSLA Feb 11 2022 930.0 Call at $0.02 Credit.
At the open today it looked like this would expire.
I have 3 long TSA calls (2 are fully paid for and not worth much) against this 1 short Call
Rolled part of the position up:
Bought to close VXX Feb 04 2022 22.0 Calls at $0.06. Sold last Friday on a rollup at $2.78
Sold to Open Contracts VXX Feb 11 2022 24.5 Calls at $0.32
#CoveredCalls – A few more.
Bought to Close SOXL FEB 4 2022 43.0 Calls @ .34 (sold for 3.25)
Bought to Close SOXL FEB 4 2022 47.0 Call @ .05 (sold for 3.00)
Bought to Close SOXL FEB 4 2022 48.5 Call @ .05 (sold for 2.30)
Sold SOXL FEB 11 2022 40.0 Calls @ 4.04
Sold SOXL FEB 11 2022 48.0 Calls @ 1.07
#CoveredCalls – Another round.
Bought to Close ARKK FEB 4 2022 74.0 Calls @ .05 (sold for 1.84)
Sold ARKK FEB 11 2022 75.0 Calls @ 1.70
Bought to Close 1 TNA Feb 04 2022 62.0 Diagonal Call at $0.03. Sold on Monday at $0.99
Bought to Close 1 TNA Feb 04 2022 63.0 Diagonal Call at $0.01. Sold on Monday at $0.86
Sold to Open 1 TNA Feb 11 2022 66.0 Call at $0.43
Sold to Open 1 TNA Feb 11 2022 67.0 Call at $0.33
Bought to close 1 TSLA Feb 04 2022 700.0 Put at $0.01. Sold last week at $3.50
Still waiting on and TSLA 860.0 Put to drop to a penny too.
Managed to get out of my long stock for breakeven. Basis was 446.33 and closed stock plus covered calls for 446.35. Looking to build a put ladder over the next few weeks as long as SPY keeps trending above its 50-Wk MA.
#coveredcalls
Rolled up some of my covered calls to next week at strikes above this week’s high.
Bought to close 1 TQQQ Feb 04 2022 63.5 Call at $0.02. Sold last Friday at $0.41.
Bought to close 1 TQQQ Feb 04 2022 64.0 Call at $0.01. Sold last Friday at $0.39.
Sold to Open 1 TQQQ Feb 11 2022 66.5 Covered Call at $0.41
Sold to Open 1 TQQQ Feb 11 2022 67.0 Covered Call at $0.37
STO March 18, 100 put at 2.75 with stock at 113,
If Russia does invade, oil should rise
Added to my tiny position in CLX at 144.51 (at a 3-year low)
Added to my tiny position in PYPL at $123.00
Added to my tiny position in SWKS at $132.00
Added to my tiny position in XYL at $88.00
Started a new position in FTV at $65.00
#SP500 #FallingKnife
#Jobs — Above expectations for a change; wage growth strong, labor participation up, Nov & Dec jobs revised upward by ridiculous amounts.
Gain of +467,000 non-farm payroll jobs, vs. expected gain of 150K
Unemployment at 4.0%, up by 0.1 (vs. 3.9 estimate)
U6 unemployment at 7.1%, down by 0.2
Labor force participation 62.2%, up by 0.3
Average hourly earnings up 0.7%, vs. 05 estimate
December jobs revised up by +311K to +510K
November jobs revised up by +398K to +647K
Options Bistro 