OptionsExpiration

Tough to make any money in a market like this. I was very aggressive selling calls and Bear Call Spreads against TQQQ and TNA as they collapsed, and they almost all expired, so that helped.

Despite the carnage the VIX was fairly calm so all my VXX and UVXY positions expired.

Hoping for some stabilization next week.

Expired:
LABU 7.5 Diagonal and Covered Calls

SOXL 13.5 Diagonal Calls
SOXL 12.5 Diagonal Calls
SOXL 8.5 Covered Calls
SOXL 6.5 Diagonal Puts

TLRY 3.5 Covered Calls

TNA 36.0 Diagonal Calls
TNA 35.0 Diagonal Calls
TNA 34.5 Diagonal Calls
TNA 34.0 Diagonal Calls
TNA 33.0 Covered Calls

TQQQ 34/20 Bear Call Spread
TQQQ 33/20 Bear Call Spread
TQQQ 32/20 Bear Call Spread
TQQQ 19.5 Diagonal Calls
TQQQ 19.0 Diagonal Calls
TQQQ 18.5 Covered Calls
TQQQ 18.5 Diagonal Calls
TQQQ 18.0 Diagonal Calls (just barely)

UVXY 22/15.5 Bear Call Spreads
UVXY 16/14.5 Bear Call Spreads
UVXY 14.5 Diagonal Calls
UVXY 11.5 Diagonal Puts — #UVXYContango

VXX 29/25.5 Bear Call Spreads
VXX 29/25 Bear Call Spreads
VXX 26/24.5 Bear Call Spreads
VXX 26/24 Bear Call Spreads
VXX 23.5 Diagonal Calls
VXX 23.0 Diagonal Calls
VXX 20.0 Diagonal Puts — #VXXContango
VXX 19.5 Diagonal Puts — #VXXContango

Assignments:
None

SOXL Puts Rolled down

Bought to close SOXL Oct 14 2022 7.0 Puts at $0.13. Sold this week at $0.30 and $0.35
Replaced them with short SOXL Oct 21 2022 6.0 Puts at $0.19 for a $0.06 Credit and lowered the short strike a point.
Last trade today
#OnlySpreads

SPX 1-dte

#SPX1dte Sold to Open $SPX Oct 17th 3420/3460-3700/3720 condors for 1.30, SPX at 3595, deltas -.05 +.07

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

TNA Put Rolled Down

Bought to close 1 1 TNA Oct 14 2022 30.0 Put at $0.47. Sold last week on a rolldown at $1.01.
Replaced it with 1 TNA Oct 21 2022 28.0 Put at $0.99 and lowered the short strike another 2 points

TQQQ Calls and SLV Puts Rolled

Bought to close TQQQ Oct 14 2022 17.5 Calls at $0.32. Sold Yesterday (way too early) at $0.47, $0.62 and $0.76.
Replaced them with TQQQ Oct 21 2022 19.5 Calls at $0.43 for $0.11 Credit and pushed the short strike up 2 points and out of the money.
Still waiting to see if I have to cover my short 18.0 Diagonal Calls.

Rolled SLV Oct 14 2022 17.0 Diagonal Puts to SLV Oct 21 2022 16.5 Puts at $0.02 Credit and lowered the short strike $0.50

#OnlySpreads

Stocks

Sold all my tiny remaining BIIB position at $272.01. Bought in Jan, Feb and March at $215.77, $204.86 and $195.00.
#FormerFallingKnife #RaisingCash

Bought a tiny bit of STX at $50.00. Div = 5.28%
#SP500 #FallingKnife

SPY LABU TQQQ VXX

Bought to close 1 SPY Oct 14 2022 345.0 Diagonal Put at $0.01. Sold on Wednesday at $1.26.
Replaced it with 1 short Diagonal SPY Oct 21 2022 335.0 Put at $0.59.

Sold LABU Oct 14 2022 7.5 Covered Calls at $0.20. A one day scalp trade.
Sold LABU Oct 21 2022 8.5 Covered Calls at $0.20 for next week.

Sold 1 TQQQ Oct 14 2022 19.5 Covered Call at $0.66 adding to calls I sold yesterday on the way up.
Rolled 1 short TQQQ Oct 14 2022 22.0 Put to TQQQ Oct 21 2022 21.5 Put at $0.02 Credit and lowered the strike $0.50.

Sold 1 VXX Oct 21 2022 19.5 Put at $0.22, adding to my position.

#OnlySpreads

SPX R/R

#SPX1dte #Risk/Reversal

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.