#SPX1dte Sold to Open $SPX Oct 17th 3420/3460-3700/3720 condors for 1.30, SPX at 3595, deltas -.05 +.07
Daily Archives: Friday, October 14, 2022
SPY TSLA XBI
#CoveredCalls #ShortCalls #ShortPuts – A little bit of everything.
SPY: Rolled down for additional credit and added.
Rolled SPY OCT 21 2022 380.0 Call to OCT 21 2022 372.0 Call @ 2.00 credit (3.75 total now)
Sold SPY OCT 28 2022 385.0 Call @ 2.50
TBT: Added
Bought to Open TBT JAN 17 2025 30.0 Put @ 6.50
TSLA: Didn’t really want to hold through earnings but here we are. Rolled down and added max protection call spreads (2 call spreads per 1 short put) for a slightly inverted Jade Lizard. No profit but no risk to the upside and taking more downside help instead.
Rolled TSLA OCT 14 2022 220.0 Put to OCT 28 2022 205.0 Put @ .15 credit
Sold TSLA OCT 28 2022 200.0/205.0 Bear Call Spreads @ 3.00
Now 205/200/205 Jade Lizard @ 10.10
(1 put and 2 call spreads)
No idea what the name of this would be now. LOL
XBI: A little bit of everything. Rolling short puts, taking profits in short calls and reloading covered calls.
Rolled XBI OCT 14 2022 80.0 Put to OCT 21 2022 80.0 Put @ 1.68 credit (3.72 total now)
Rolled XBI OCT 14 2022 81.0 Put to OCT 21 2022 81.0 Put @ 1.35 credit (3.91 total now)
Rolled XBI OCT 14 2022 81.5 Put to OCT 21 2022 81.5 Put @ 1.20 credit (3.00 total now)
Rolled XBI OCT 14 2022 82.0 Put to OCT 21 2022 82.0 Put @ 1.05 credit (3.05 total now)
Rolled XBI OCT 14 2022 82.5 Put to OCT 21 2022 82.5 Put @ .90 credit (3.10 total now)
Rolled XBI OCT 14 2022 83.0 Put to OCT 21 2022 83.0 Put @ .77 credit (3.12 total now)
Bought to Close XBI OCT 14 2022 83.0 Calls @ .01 (sold for 1.00)
Bought to Close XBI OCT 14 2022 79.0 Calls @ .05 (sold for 3.20)
Sold XBI OCT 21 2022 77.5 Calls @ 2.65
SPX R/R
When you are long one of these spreads, you are faced with decisions all day long (and even all night long with $SPX)… when to exit? With a small profit? Or wait for a bigger one.
Being short is easier.. if stop is hit, GET OUT.
Last night at 9:30pm Pacific I could have taken profits on call spread by selling at 2.50. I instead put in an order for 4.00, thinking we’d edge higher over night. Instead, we dropped. Then after the open, I put in a new sell order for 1.50… the opening spike got me to 1.35, so no fill. Now we have collapsed, and likely profit will be zero. Only hope is whatever volatility just spiked us down will be seen as a buying opportunity like yesterday’s morning was.
Still, successful week with 4 wins, 1 likely breakeven (today) for total profit of 4.85.
Options Bistro 