Finally took this one off for just about a scratch/very small loss after it ran away from me after earnings. Originally put the trade on 8/9 and did several rolls and adjustments bringing in net 2.85 in premium. Bought the final position (Oct 21 55/75 strangle) back for 3.15 for an overall .30 loss.
Daily Archives: Wednesday, September 21, 2022
Inflation
When satire is indistinguishable from the real world and funny because it is actually true..
XBI
#CoveredCalls – Let’s see if I can get out of these a week earlier.
Rolled XBI SEP 30 2022 81.0 Calls to SEP 23 2022 79.0 Calls @ .18 debit
Rolled XBI SEP 30 2022 80.0 Calls to SEP 23 2022 78.0 Calls @ .04 credit
SPX 1-dte
#SPX1dte Sold to Open $SPX Sept 22nd 3650/3670-3920/3940 condors for 1.35, SPX at 3798, IV 38.8%, deltas -.05 +.06
TBT
#LongLEAPS – Just a little starter for fun. Hopefully add a little along the way and maybe sell a little against it. Tough fill so probably overpaid.
Bought to Open TBT JAN 17 2025 30.0 Put @ 7.40
Stocks
Tiny buys post FED
Only one – sort of surprised there aren’t more
Bought VZ at $40.00 and $39.77 Div = 6.43%
#SP500 #FallingKnife
SPX 2 hour trades
#SPX1dte Sold to Open $SPX Sept 21st 3770/3750 put spreads for 3.40.
After the Fed
Sold VXX Sep 23 2022 20.5 Diagonal Calls at $0.12, $0.13 and $0.14
The VIX index briefly hit 30 before dropping back 10%
SPY
#CoveredCalls – Not rolling them all but taking a few down for additional premium.
Rolled SPY SEP 23 2022 390.0 Call to SEP 23 2022 385.0 Call @ 2.45 credit (8.65 total now)
Rolled SPY SEP 23 2022 390.0 Call to SEP 23 2022 380.0 Call @ 5.50 credit (8.40 total now)
Rolled SPY SEP 30 2022 389.0 Call to SEP 30 2022 380.0 Call @ 5.25 credit (8.95 total now)
LABU TQQQ Covered Calls
Sold TQQQ Sep 23 2022 30.0 Calls at $0.07 and $0.09
Sold TQQQ Sep 23 2022 27.0 Call at $0.48 and $0.53
Sold TQQQ Sep 23 2022 27.5 Call at $0.36 and $0.39
Sold TQQQ Sep 23 2022 28.0 Call at $0.27 and $0.29
Sold TQQQ Sep 23 2022 28.5 Call at $0.21
Sold LABU Sep 23 2022 9.0 Calls Limit at $0.10.
Waiting on the FED
Markets
2Y Treasury Yields Top 4.00% For First Time Since Oct 2007
JPM’s Fed Day Scenario Analysis: Market Could Have Best Day In History, Or Crash 5%
What is priced in right now:
+75bps today,
+75bps in Nov,
+50bps in Dec.
*ZeroHedge*
SPX 1-dte
#SPX1dte SAME DAY: Sold to open $SPX Sept 21st 3720/3740-3995/4015 condors for 1.60, SPX at 3872, IV 77.4%, deltas -.05 +.04.
IV incredibly high, probably as a result of the huge move we had last Tuesday after inflation report. I felt these strikes were far enough OTM, with lower deltas than I normally sell, to place the trade before Fed announcement.
Options Bistro 