#CoveredCalls – A few today.


Bought to Close NVDA SEP 30 2022 135.0 Calls @ .05 (sold for 1.30)


Bought to Close SPY SEP 30 2022 377.0 Call @ .05 (sold for 2.30)
Bought to Close SPY SEP 30 2022 379.0 Calls @ .05 (sold for 1.75)
Bought to Close SPY SEP 30 2022 380.0 Call @ .05 (sold for 8.95)
Bought to Close SPY SEP 30 2022 385.0 Call @ .05 (sold for 2.33)

Sold part of some hedges:

Sold to Close SPY NOV 18 2022 300.0 Puts @ 2.06 (bought for 1.42)


Limited buys today as I’ve pulled most buy orders
Added T at $15.50
Added VFC at $31.50
Added QQQ at $269.27


#SPX1dte Sold 6 minutes after closing bell: $SPX Sept 30th 3490/3510-3750/3770 condors for 1.75, SPX closed at 3640, IV 40.8%, deltas -.05 +.06

SPX stopped

#SPX1dte Well, my instincts were correct to wait until morning to sell, but in the end made little difference.

Bought to close $SPX Sept 29th 3590/3570 put spreads for 3.40. Condors sold for 1.45 this morning. First loss of the week.

Labor Data

Initial filings for unemployment claims fell last week to their lowest level in five months, a sign that the labor market is strengthening even as the Federal Reserve is trying to slow things down.

Jobless claims for the week ended Sept. 24 totaled 193,000, a decrease of 16,000 from the previous week’s downwardly revised total and below the 215,000 Dow Jones estimate, according to a Labor Department report Thursday.

The drop in claims was the lowest level since April 23 and the first time claims fell below 200,000 since early May.

Continuing claims, which run a week behind, fell 29,000 to 1.347 million.

The strong labor numbers come amid Fed efforts to cool the economy and bring down inflation, which is running near its highest levels since the early 1980s. Central bank officials specifically have pointed to the tight labor market and its upward pressure on salaries as a target of the policy tightening.

Despite the efforts, there was more bad news Thursday for the Fed on the inflation front.

The personal consumption expenditures price index, a favorite inflation gauge for the Fed, showed a 7.3% year-over-year price gain in the second quarter, the Commerce Department reported in its final GDP estimate for the period. That was above the 7.1% reading in the prior two Q2 estimates and just off the 7.5% gain in the first quarter.

Excluding food and energy, core PCE inflation was 4.7%, 0.3 percentage point higher than the previous two estimates but below the 5.6% jump in Q1.

The Fed has raised interest rates five times in 2022 for a total of 3 percentage points, and officials have stressed the importance of continuing to hike until inflation comes down closer to the central bank’s 2% target.

SPX 1-dte

#SPX1dte In pre-market, sold to open $SPX Sept 29th 3570/3590-3775/3795 condors for 1.45, IV 53.6%, deltas -.05 +.05