#coveredcalls
$XBI BTC 11/4 84 call and STO 11/11 84 call at added credit of .53
#syntheticcoveredcalls
$BX BTC 11/4 99 call and STO 11/11 98 call at added credit of .25
#optionsexpiration
$BX 96 call
$PFE 48.50 call
$U 28.5 call
$GOOGL 102 call
$SHOP 35 call
$GNRC 120 call
Despite the market rally, all the LABU, SOXL,TQQQ and TNA Covered Calls and call spreads expired worthless.
Expired:
LABU 13/8.5 Bear Call Spreads
LABU 8.5 Covered Calls
LABU 9.0 Diagonal Calls
SLV 15/17 Bull Put Spreads
SOXL 17/10.5 Bear Call Spreads
SOXL 10.5 Covered Calls
SOXL 11.0 Diagonal Calls
SOXL 11.5 Diagonal Calls
SOXL 7.0 Diagonal Puts
SPY 320/367 Bull Put Spread
SPY 370.0 Diagonal Puts
TLRY 4.5 Covered Calls
TNA 47/37 Bear Call Spreads
TNA 37.5 Diagonal Calls
TNA 38.5 Diagonal Call
TNA 39.0 Diagonal Call
TNA 40.0 Diagonal and Covered Calls
TNA 41.5 Diagonal Call
TNA 42.0 Diagonal Call
TNA 43.0 Diagonal Call
TNA 44.0 Diagonal Calls
TNA 45.0 Diagonal Calls
TQQQ 24/22 Bear Call Spread
TQQQ 25/22 Bear Call Spread
TQQQ 26/22.5 Bear Call Spreads
TQQQ 27/23 Bear Call Spread
TQQQ 27/23.5 Bear Call Spreads
TQQQ 22.0/23.0/23.5/24.5 Covered Calls
TQQQ 24.5 Diagonal Calls
TQQQ 13/16.5 Bull Put Spreads
UVXY 10.5 Diagonal Calls
UVXY 11.0 Diagonal Calls
VXX 29/20 Bear Calls Spreads
#SPX1dte Sold to Open $SPX Nov 7th 3655/3675-3850/3870 condors for 1.35, SPX at 3758, deltas -.07 +.04, IV 16.1%
#ShortPuts #CoveredCalls #SyntheticShortStock #SyntheticStock #SyntheticDividends – A little bit of everything.
ADBE: Back in it. Earnings not until mid Dec.
Sold ADBE NOV 18 2022 270.0 Put @ 3.80
AMZN: Sold next week’s yesterday…against 2025 synthetic stock.
Bought to Close AMZN NOV 4 2022 100.0 Calls @ .01 (sold for 2.25 and 3.00)
NVDA: A few more. Lots of different positions in this one. Closed, sold and rolled. Aggressive puts sold against an overwrite of covered calls.
Bought to Close NVDA NOV 4 2022 135.0 Put @ .05 (sold for 6.10)
Sold NVDA NOV 11 2022 145.0 Put @ 6.50
Rolled NVDA NOV 4 2022 140.0 Put to NOV 11 2022 140.0 Put @ 3.50 credit (9.55 total now)
SPY: A little bit of everything.
Bought to Close SPY NOV 4 2022 380.0 Call @ .05 (sold for 5.90)
Bought to Close SPY NOV 4 2022 384.0 Call @ .04 (sold for 2.85)
Sold SPY NOV 7 2022 376.0 Call @ 3.39
Sold SPY NOV 11 2022 382.0 Call @ 3.50
Rolled SPY NOV 4 2022 380.0 Put to NOV 11 2022 380.0 Put @ 3.75 credit (9.65 total now)
TBT: Added to Jan 2025 synthetic short stock. Selling near term against.
Sold TBT JAN 17 2025 36.0 Calls – Bought TBT JAN 17 2025 36.0 Puts @ .50 credit (synthetic short)
Bought to Close TBT NOV 4 2022 34.0 Puts @ .01 (sold for .32)
Bought to Close TBT NOV 4 2022 34.5 Puts @ .01 (sold for .43)
Sold TBT NOV 11 2022 34.5 Puts @ .33
Sold TBT NOV 11 2022 35.5 Puts @ .60
Sold TBT NOV 11 2022 36.0 Puts @ .70
TLT: Collecting another nice synthetic dividend.
Bought to Close TLT NOV 4 2022 100.0 Calls @ .01 (sold for .95)
Sold TLT NOV 11 2022 97.5 Calls @ .45
XBI: Another good week in this one
Bought to Close XBI NOV 4 2022 79.5 Calls @ .05 (sold for 2.40)
Sold XBI NOV 11 2022 79.5 Calls @ 1.50
Letting some early assignment stock go @ 78.5 (basis 78.15)
Replacing with:
Sold XBI NOV 11 2022 81.0 Put @ 2.90
Rolled XBI NOV 4 2022 81.5 Puts to NOV 11 2022 81.5 Puts @ 1.05 credit (3.05 total now)
Rolled XBI NOV 4 2022 82.5 Puts to NOV 11 2022 82.5 Puts @ .77 credit (2.90 total now)
Rolled XBI NOV 4 2022 83.0 Puts to NOV 11 2022 83.0 Puts @ .64 credit (3.00 total now)
Rolled XBI NOV 4 2022 84.0 Puts to NOV 11 2022 84.0 Puts @ .45 credit (3.05 total now)
Sold SOXL Nov 11 2022 7.0 Puts at $0.11.
Sold SOXL Nov 11 2022 10.5 Calls at $0.17.
Replacing similar options that are about to expire today
#OnlySpreads
Bought to close 1 SPY Nov 04 364.0 Diagonal Put at $0.09. Sold yesterday at $0.94
Sold 1 SPY Nov 09 2022 360.0 Put at $0.77 to replace it.
#OnlySpreads
Sold VXX Nov 11 2022 20.0 Diagonal Calls at $0.12 and $0.13
Sold UVXY Nov 11 2022 11.0 Diagonal Calls at $0.19
Paired with the short puts I rolled down earlier.
Rolled down 1 TQQQ Nov 04 2022 19.5 Put to 1 TQQQ Nov 11 2022 19.0 Put at $0.08 Credit.
I keep rolling this down hoping that one of these weeks it will finally expire.
At least the roll is cash positive each week.
Also rolled TQQQ Nov 04 2022 17.5 Puts down to TQQQ Nov 11 2022 15.5 Puts at $0.02 Credit
#onlySpreads
Bought 1 TNA Nov 25 2022 45.0 Call at $0.40
Bought 1 TNA Dec 02 2022 47.0 Call at $0.42
Sold TNA Nov 11 2022 40.0 Calls Net Credit at $0.50 and $0.52.
Waiting until a large number of (both covered and diagonal) TNA calls expire this afternoon before re-writing them for next week.
#OnlySpreads
#SPX1dte Bought to close $SPX Nov 4th 3810/3830 call spreads for .80. Condors sold for 1.35 this morning.
My P/L chart looks like railroad tracks on a candle chart. Here are results of last 4 weeks:
+4.70
-5.85
+7.90
-5.71
The good news is I can identify two mistakes from this week that turned it sour. If it weren’t for my human mistakes, the strategy would be the problem.
I have been tracking paper results if I used a “no stop” strategy, and it officially pulled slightly ahead of my actual gains. Had I gone with no stops since May 16th, my profits would be 11.7% higher.
As it is, my accounts are up an average of 22.3% since May 16th, using ONLY the #SPX1dte and a small amount of #SPX5dte.
I was early on all these trades, especially the rolldowns
Rolled VXX Nov 04 2022 17.5 Puts down to VXX Nov 11 2022 17.0 Puts at $0.02 Credit
Bought to close VXX Nov 04 2022 17.0 Puts at $0.01.
#VXXContango
Rolled UVXY Nov 04 2022 9.5 Puts down to UVXY Nov 11 2022 9.0 Puts at $0.02 Credit
Bought to close UVXY Nov 04 2022 9.0 Puts at $0.01.
#UVXYContango
Nonfarm payrolls grew by 261,000 in October, better than the estimate for 205,000.
The unemployment rate moved higher to 3.7%, while a broader jobless measure also increased, to 6.8%.
Big job gainers by industry included health care, professional and technical services, and leisure and hospitality.
Average hourly earnings rose 0.4% for the month and were up 4.7% from a year ago.
Labor force participation rate declined by one-tenth of a point to 62.2%.
#SPX1dte At 21 minutes after opening bell, sold to open $SPX Nov 4th 3630/3650-3810/3830 condors for 1.35. Deltas -.06 +.06
Options Bistro 