#coveredcalls
$MO BTC 2/17 47 call and STO 2/24 47 call at added credit of .18. Stock at 47.42
$SHOP STO 2/17 56 call at 56. Stock at 53.43
Monthly Archives: February 2023
UVXY LABU SOXL
Bought to close UVXY Feb 17 2023 6.0 Calls at $0.01
Bought to close LABU Feb 17 2023 8.5 Call at $0.01
Bought to close SOXL Feb 17 2023 13.5 Put at $0.01
Join the Bistro Team
#Welcome Hello to everyone that is new to the site or has been watching for awhile. I would love for all regular visitors to become Contributors to OptionsBistro, with the ability to write your own posts. There is no obligation or cost to join, and you can write your own posts as often as you wish (or not at all). Becoming a Contributor makes it easier to post comments or questions, as well as control which notifications you receive.
Everyone can also enter #Welcome into the search box at right to see all archived posts about this sites’ features and details.
So please email me if interested in becoming a Contributor and I will reply with an invitation and instructions on how to sign up.
Thanks, and happy trading,
Jeff
SPY,
BTC FEB 15, 412 calls and STO FEB 21 calls for a credit of 1.16
TQQQ,
STO Feb. 17, 24 put at .24 cents earlier this morning.
SPX
STO 4040/4060-4210/4230 Iron condor at 1.025 in the premarket this morning.
SPX 1 DTE
#spx1dte
$SPX STO 2/15 4070/4050 – 4210/4230 at $1.05
AMZN Strangle
#shortstrangles
$AMZN STO 2/17 96/103 strangle at .80. Call is covered
SPY
#ShortPuts – A couple.
Sold SPY MAR 17 2023 390.0 Put @ 2.90
Sold SPY MAR 17 2023 395.0 Put @ 3.80
KR HAL Puts
#shortputs
$KR STO 2/17 43.5 put at .16
$HAL STO 2/17 37 put at .17
CPI for January (8:30 a.m.)
Hourly Wage Earnings for January (8:30 a.m.)
Fed’s Logan Speaks (11 a.m.)
Fed’s Harker Speaks (11:30 a.m.)
Fed’s Williams Speaks (2 p.m.)
American Petroleum Institute Crude Oil Inventory Data (4:30 p.m.)
SPX 1 DTE Expire
CPI report tomorrow
No trades expiring today and not placing one for tomorrow either, due to CPI report at 8:30am ET.
SPY, STO April 21,
STO 381 puts at 4.47
STO 383 puts at 4.81
STO 385 puts at 5.15
Schwab?
TDA had been bought out and at some point in the next few months I’ll be transferred. I was just wondering about their cash sweep account for unused cash sitting in the option trading accounts. I was at Fidelity before TDA and they used something called FDRXX which is currently yielding 4.18%.
TDA has nothing for the cash sweep so I was considering moving back to Fidelity. If Schwab has something similar to FDRXX I would definitely stay since TOS is far superior to Fidelity Active Trader Pro.
All I can find on the Schwab website is a thing called SWGXX with a similar yield to the Fidelity product.
Any Schwab guys out there?
Expired
#optionsexpiration
$PFE 46 call
$PFE 44.5 call
$SI 23 call
$SQ 87 call
$AMZN 110 call
$AMZN 123 call
$XBI 92 call
$AI 30 call$
$MPW 11 put
$U 33.5 put
$MOS 47.5 put
OptionsExpiration
Expired:
LABU 11.5/9.5 Bear Call Spreads
LABU 10.5/9.0 Bear Call Spreads
LABU 8.5 Covered Call
LABU 8.5 Diagonal Calls
SOXL 17.5, 18.0, 18.5 and 19.0 Diagonal Calls
SOXL 15.0 and 15.5 Diagonal Puts
TNA 46/45 Bear Call Spreads
TNA 46/44 Bear Call Spread
TNA 44.0 Diagonal Call
TNA 43.0 Diagonal Call
UVXY 6.5/5.5 Bear Call Spreads
UVXY 5.5 Covered Calls
UVXY 6.0 Covered Calls
VXX 13.5/12/5 Bear Call Spreads
VXX 13.0 Covered Calls
VXX 12.5 COvered Calls
Roll GOOGL LABU Puts
#shortputs
$GOOGL BTC 2/10/ 96 put and STO 2/17 96 put at added credit of $1.55
$LABU BTC 2/10/ 8 put and STO 2/17 8 put at added credit of .15
SPX 1 DTE
LABU UVXY VXX SOXL
Near the close:
Rolled DOWN LABU Feb 10 2023 7.5 Puts to LABU Feb 17 2023 7.0 Puts at $0.09 Credit
Rolled UVXY Feb 10 2023 5.0 Calls to UVXY Feb 17 2023 5.0 Calls at $0.11 Credit
Rolled VXX Feb 10 2023 11.5 Calls to VXX Feb 17 2023 11.5 Calls at $0.17 Credit
Rolled UP VXX Feb 10 2023 12.0 Calls to VXX Feb 17 2023 13.5 Calls at $0.04 Credit
Rolled DOWN SOXL Feb 10 2023 16.0 Puts to SOXL Feb 17 2023 14.0 Puts at $0.06 Credit
SOXL LABU
Earlier today:
Bought to close 1 SOXL Feb 10 2023 15.0 Put at $0.01
Bought to close 1 SOXL Feb 10 2023 17.0 Call at $0.01
Bought to close LABU Feb 10 2023 8.0 Calls at $0.01
AMZN SPY XBI
#SyntheticCoveredCalls #ShortPuts – A few.
AMZN: Synthetic covered.
Bought to Close AMZN FEB 10 2023 99.0 Calls @ .05 (sold for 1.56)
Bought to Close AMZN FEB 10 2023 100.0 Calls @ .05 (sold for 1.51)
Sold AMZN FEB 17 2023 97.0 Calls @ 3.15
Sold AMZN FEB 17 2023 98.0 Calls @ 2.60
Sold AMZN FEB 17 2023 99.0 Calls @ 2.07
Added one:
Bought AMZN JUN 20 2025 100.0/100.0/45.0 Synthetic Stock with Disaster Put @ 8.75
SPY: Rolling
Rolled SPY FEB 10 2023 410.0 Put to FEB 17 2023 404.0 Put @ .30 credit (3.00 total now)
XBI: Adding.
Sold XBI MAR 17 2023 80.0 Put @ 1.52
SPY,
STO Feb. 15, 412 call at 2.45, I will be assigned today at the 410 put that I sold for 2.70
Indicator/Speaker Schedule
University of Michigan Consumer Expectations Survey for February (10 a.m.)
Fed’s Waller Speaks (12:30 p.m.)
Baker Hughes Rig Count Data (1 p.m.)
CFTC Commitment of Traders Report (3:30 p.m.)
Fed’s Harker Speaks (4 p.m.)
SPX 1 DTE
#spx1dte
Expired $SPX 4030/4050 – 4200/4220 STO at $1.00
TLT
#ShortPuts #CoveredCalls – A few late ones.
Bought to Close TLT FEB 10 2023 106.5 Calls @ .05 (sold for 2.80)
Sold TLT FEB 17 2023 106.0 Calls @ .55
Sold TLT FEB 17 2023 104.0 Puts @ .83
SPX 1-dte
#SPX1dte Sold to Open $SPX Feb 10th 3980/4000-4155/4175 condors for 1.15.
Stopped out this morning when we opened at the day’s highs and my stop level was hit. Totally unnecessary. In fact, 100% of my stop-outs so far this year were not necessary. Had I gone with no-stop policy, my profits would be about 75% higher. Results from second half of last year are similar.
This year I have made a total of 16.10, but I have paid 12.75 for unnecessary exits.
(I trade one contract per 15K in each account. So 16.10 amounts to a 5.4%- 10.7% return on each account in 40 calendar days)
So I’m going to start a more relaxed approach. If stop level is hit (which is when SPX comes within the day’s expected move of either of my short strikes) I will watch closely and look for a chance to exit cheaply. If that chance does not come or I miss it, I will let it ride. If my strikes are breached, I will watch more closely and consider exiting for a loss.
VXX
Sold VXX Feb 10 2023 12.0 Calls at $0.06, $0.07, $0.08 and $0.15
Sold VXX Feb 17 2023 13.5 Calls at $0.10 and $0.15
Sold VXX Feb 17 2023 13.0 Calls Net at $0.12, $0.13, $0.17 and $0.18
Sold VXX Feb 24 2023 13.5 Calls at $0.18, $0.20 and $0.25
#OnlySpreads
TNA Call roll and Put ladder
Got spooked by the opening surge and rolled these calls up too soon.
Rolled TNA Feb 10 2023 41.5 Calls to TNA Feb 17 2023 43.0 Call at $0.20 Credit
At least I was able to get a small scalp trade off for tomorrow
Sold to Open 1 TNA Feb 10 2023 45.0 Call at $0.14
Then started on some offsetting short puts:
Sold 1 TNA Feb 17 2023 37.5 Put at $0.61
Sold 1 TNA Feb 17 2023 37.0 Put at $0.58
Sold 1 TNA Feb 17 2023 36.5 Put at $0.50
Sold 1 TNA Feb 17 2023 36.0 Put at $0.43
#OnlySpreads
AMZN XBI
#SyntheticStock #SyntheticCoveredCalls #ShortPuts – I couldn’t resist. I feel like I have to stay involved in these while they are at good levels and have served me well over the last year. Gradually back in during the week. Plan is to still be nearly all SPY though.
AMZN:
Bought AMZN JUN 20 2025 100.0/100.0/45.0 Synthetic Stock with Disaster Puts @ 10.00
Sold AMZN FEB 10 2023 100.0 Calls @ 1.51
Sold AMZN FEB 10 2023 99.0 Calls @ 1.56
XBI:
Sold XBI Mar 17 2023 80.0 Puts @ 1.00 and 1.05
BAX Stock
First one of these trades in a while
Added to my tiny position in BAX at $40.12 ( a new 52-week low)
#SP500 #FallingKnife
PLL Put
#shortputs
$PLL STO 2/17 65 put at $1.50
SPX
Feb.9,
STO 4020/4040-4190/4210 iron condor at 1.05
SPX 1 DTE
#spx1dte
$SPX STO 2/9 4030/4050 – 4200/4220 at $1.00 SPX at 4117
The 2/8 $SPX 4070/4050 – 4240/4260 expired. STO at .90
VXX UVXY
Sold VXX Feb 10 2023 12.0 Calls at $0.18 and $0.19
Sold 1 VXX Feb 10 2023 11.5 Call at $0.38
Sold 1 UVXY Feb 10 2023 5.5 Call at $0.07
PFE XBI AMZN Call
#coveredcalls #syntheticcoveredcalls
$PFE STO 2/10 44.5 call at .12
$XBI STO 2/10 92 call at .31
$AMZN STO 2/10 110 call at .11
LABU SOXL Puts
Sold LABU Feb 10 2023 7.5 Puts at $0.08
Partial offset to the calls I sold Monday
Sold 1 SOXL Feb 10 2023 16.0 Put at $0.20
Sold 1 SOXL Feb 10 2023 15.5 Put at $0.15
Sold 1 SOXL Feb 10 2023 15.0 Put at $0.08
Partial offset to yesterday’s call ladder
#OnlySpreads
SPX 1 DTE
#spx1dte
$SPX STO 2/8 4080/4060 – 4230/4250 at .90. $SPX at 4158 when placed
SPY,
BTC Feb. 10, 355 put at .01
FED,
Tomorrow there are 5 people from the FED that are speaking but I think that Powell is the most important one so I am not nervous.
SOXL Call Ladder
Sold 1 SOXL Feb 10 2023 17.0 Call at $0.49
Sold 1 SOXL Feb 10 2023 17.5 Call at $0.33.
Later after Powell:
Sold 1 SOXL Feb 10 2023 18.0 Call at $0.43
Sold 1 SOXL Feb 10 2023 18.5 Call at $0.31
Sold 1 SOXL Feb 10 2023 19.0 Call at $0.26
#OnlySpreads
SPX stopped
#SPX1dte Market soared on Powell’s remarks. It hit my stop but then retreated pretty quickly so I was able to wait for a cheap close.
Bought to close $SPX Feb 7th 4190/4210 call spreads for .45. Condors sold yesterday for 1.60.
CINF DD JPM MSFT Stocks
Sold my last tiny bit of CINF at $122.21, very close to a 6-month high.
Bought on 07/28/2022 at $97.20.
Sold my last tiny bit of DD at $76.77, very close to a 6-month high.
Bought on 06/13/2022 at $61.67.
Sold my highest cost lot of JPM at $143.49, very close to a 6-month high.
Bought on 03/01/2022 at $134.00.
Sold my last tiny bit of MSFT at $263.45, very close to a 3-month high.
Bought on 11/03/2022 at $219.13.
This Weeks Possible Stimuli
Fed Chairman Powell Speaks (Tuesday)
Consumer Credit for December (Tuesday)
Fed’s Williams Speaks (Wednesday)
MBA Mortgage Applications (Wednesday)
Fed’s Waller Speaks (Friday)
University of Michigan Consumer Sentiment Survey for February (Friday)
SPX 1-dte
#SPX1dte Sold to Open $SPX Feb 7th 4000/4020-4190/4210 condors for 1.60, SPX at 4106, deltas -.06 +.06.
UVXY VXX LABU
Sold UVXY Feb 10 2023 5.5 Covered Calls at $0.12
Sold UVXY Feb 10 2023 6.0 Covered Calls at $0.06
Sold VXX Feb 10 2023 12.5 Covered Calls at $0.11
Sold VXX Feb 10 2023 13.0 Covered Calls at $0.07
#CoveredCalls
Sold LABU Feb 10 2023 9.5 Calls at $0.17
#OnlySpreads
Expiration / Close AMZN Put / GDX Assigned
#optionsexpiration
$BLNK 14 put
$SHOP 44.5 put
$SHOP 46.5 put
$LABU 8 put
$XBI 93 call
#shortputs #earningstrade
$AMZN BTC 2/3 106 put at .22. STO yesterday at 2.20. Stock closed at 103.39. Whew!
#assignment
$GDX 30.50 put
OptionsExpiration
Expired:
LABU 12/9.5 Bear Call Spreads
LABU 11.5/9.5 Bear Call Spreads
LABU 9.0 Diagonal Calls
LABU 8.0 Diagonal Puts
SOXL 11.0 Diagonal Puts
TNA 50/45 Bear Call Spread
TNA 48.0 Diagonal Calls
UVXY 5.0/5.5/6.0/6.5 Covered Calls
VXX 11.5/12.0/12.5/13.0/13.5 Covered Calls
SPX 1 DTE Close
$SPX Closed todays put side at .10. Call should expire. Condor sold for $1.10 yesterday. Not able to watch and learning how to be prudent.
Have a great weekend all.
XBI
#SyntheticStock #SyntheticCoveredCalls – That’s the last of it. Traded it from 100 down to 90 over 13 months and turned out to be biggest winner while going down. LOL Gotta love options!
Sold XBI JAN 17 2025 90.0/90.0/40.0 Synthetic Stock @ 8.20 (bought for 4.20)
Bought to Close XBI FEB 3 2023 88.0 Calls @ 3.50 (sold for 2.20)
Bought to Close XBI FEB 3 2023 89.0 Call @ 2.50 (sold for 1.20)
Bought to Close XBI FEB 3 2023 90.0 Calls @ 1.65 (sold for 1.00)
Net gain 1.80 on the last batch.
TLT
#CoveredCalls – Close but not quite. Try again next week.
Rolled TLT FEB 3 2023 106.5 Calls to FEB 10 2023 106.5 Calls @ .80 credit (2.80 total now)
SPY
#CoveredCalls #ShortPuts – Using the early weakness for most of these.
Covered:
Rolled SPY FEB 3 2023 397.0 Call to FEB 17 2023 399.0 Call @ .35 credit (7.15 total now)
Rolled SPY FEB 3 2023 390.0 Calls to MAR 3 2023 393.0 Calls @ .35 credit (5.45 total now)
Rolled SPY FEB 3 2023 388.0 Call to MAR 17 2023 393.0 Call @ .35 credit (3.25 total now)
Rolled SPY FEB 10 2023 386.0 Calls to MAR 3 2023 388.0 Calls @ .20 credit (5.90 total now)
New:
Sold SPY FEB 10 2023 410.0 Put @ 2.70
Sold SPY FEB 17 2023 405.0 Put @ 2.75
Sold SPY FEB 24 2023 400.0 Put @ 2.50
Sold SPY MAR 3 2023 402.5 Put @ 3.15
Sold SPY MAR 10 2023 400.0 Put @ 4.00
Sold SPY MAR 17 2023 395.0 Put @ 4.25
Sold SPY MAR 24 2023 392.5 Put @ 4.20
Sold SPY MAR 31 2023 390.0 Put @ 4.35
Food For Thought
And no, I am not buying you lunch for thinking.
History tells us that the end of rate hikes has typically rewarded patient investors. The chart below shows returns for the S&P 500 following the end of rate-hike cycles since 1980.
LABU UVXY VXX
Scaled in:
Sold LABU Feb 03 2023 9.5 Calls at $0.09, $0.14 and $0.15
Scaled in:
Sold UVXY Feb 03 2023 5.0 Calls at $0.10, $0.11, $0.12, $0.13 and $0.14
Sold VXX Feb 03 2023 12.0 Calls at $0.07
Scaled in:
Sold VXX Feb 03 2023 11.5 Calls at $0.10, $.012 and $0.15
SPX 1 DTE
#spx1dte
$SPX STO 2/3 4040/4060 – 4280/4300 at $1.10 $SPX at 4177
Today’s trade expired. STO at .90
SPY
#ShortPuts – Have to take these on this kind of a bounce.
Bought to Close SPY FEB 3 2023 400.0 Put @ .09 (sold for 3.30)
Bought to Close SPY FEB 10 2023 390.0 Put @ .27 (sold for 2.05)
Bought to Close SPY FEB 10 2023 395.0 Put @ .46 (sold for 3.15)
Bought to Close SPY FEB 10 2023 395.0 Put @ .46 (sold for 2.50)
TSLA Put Close / AMZN Put / SQ AMZN PFE Call Roll
#shortputs
$TSLA BTC 2/3 160 put at .05. STO at 2.24
$AMZN STO 2/3 106 put at $2.20 Earnings tonight
#coveredcalls
$SQ BTC 2/3 85 call and STO 2/10 87 call at even. Would gain $2 if called away.
$AMZN BTC 2/3 120 call and STO 2/10 123 call at cost of .21. Would gain $3 if called away. See what earnings brings.
$PFE BTC 2/3 45 call and STO 2/10 46 call at added credit of .04. Would gain $1 if called away.
Breaking News!!
No, I’m not pregnant. 🙂 🙂 🙂
Been waiting awhile for a chance to do this. This big runup has presented the perfect opportunity. Been an interesting 13 months but I’ve managed to stay 100 percent in the market the entire time. With this rally and all accounts sitting at lifetime highs I’m closing all non SPY positions and from this point forward will only be trading SPY. Looking at my history during the last couple years I’ve managed to do pretty good with it in all kinds of markets. Can’t beat the liquidity and expirations available. A little bit of a divvy kicker to boot and ZERO single stock risk.
It was a mixed bag over the last year but more and bigger winners than losers so can’t complain. Here’s a summary of every ticker for the last 13 months.
(Very) Big Winners:
SPY
XBI
Big Losers:
ARKK
NFLX
SOXL
TQQQ
Medium Winners:
ADBE
AMZN
EWZ
MSFT
SVXY
TBT
TLT
TSLA
Medium Losers
NVDA
Small winners:
COST
QYLD
ROKU
SNOW
SPX
SPXL
TNA
Small losers
/ES
ISRG
LABU
RSX
Breakeven:
COST
FAS
FXI
HOOD
KWEB
META
I can’t say that I won’t take advantage of opportunities if I see them but it would have to be something like XBI at 60 or TLT at 90. 🙂 🙂 🙂 Still holding TLT and some XBI at this point while gradually unwinding them. Everything else is gone except some current SPY positions I elected to keep.
QQQ IVZ
Still selling tiny bits
Sold QQQ at $313.13. Bought on 10/11/2022 at $262.37
Sold IVZ at $20.53. Bought on 03/01/2022 at $19.83 (oldest and highest)
Lots more of this one to go.
#FormerFallingKnife #RaisingCash
TQQQ,
STC Feb 3, 24/26 call spread and BTC the 21 put for a total credit of 1.40 which I put on at .34 cents. Employment numbers are out tomorrow so taking off the risk
QQQ BBY COO EBAY FDX PNR Stocks
Sold tiny lots of my oldest and highest:
QQQ at $307.76. Bought on 06/13/2022 at $277.48
BBY at $90.90. Bought on 05/18/2022 at $74.83
EBAY at $51.51. Bought on 05/18/2022 at $45.34
FDX at $210.90. Bought on 02/24/2022 at $208.25
PNR at $60.01. Bought on 07/14/2022 ay $45.00
I’m holding more lots of all of these at lower cost
Sold all of low dividend stock COO at $361.20. Bought at an average cost of $328.89 in May and July 2022
#FormerFallingKnife #RaisingCash
AMZN NVDA SPY
AMZN:
Sold AMZN FEB 17 2023 100.0 Put @ 2.55
NVDA:
Bought to Close NVDA FEB 3 2023 190.0 Puts @ .21 (sold for 6.75)
Sold NVDA FEB 17 2023 195.0 Put @ 3.00
Sold NVDA FEB 17 2023 197.5 Put @ 3.75
SPY:
Bought to Close SPY FEB 3 2023 395.0 Puts @ .17 (sold for .60)
Bought to Close SPY FEB 3 2023 397.5 Put @ .24 (sold for 3.15)
Bought to Close SPY FEB 3 2023 398.0 Put @ .26 (sold for 3.25)
Sold SPY FEB 17 2023 400.0 Puts @ 2.50
Sold SPY FEB 17 2023 405.0 Put @ 3.10
Rolled SPY FEB 3 2023 390.0 Put to FEB 3 2023 400.0 Put @ 1.90 credit (5.20 total now)
SPX 1 DTE
#spx1dte
$SPX STO 2/2 4020/4040 – 4190/4210 at .90
Todays 4020/4040 – 4180/4200 Expired. STO at .90
Upside Warning finally coming through
#VIXindicator After peaking at 4100 on Dec 13th, $SPX made a hammock on a pullback. But the Upside Warning was never canceled. Now it is coming through with a new high on SPX and new low on $VIX.
SPY QQQ AMAT MSFT DOW NKE Stock
Sold a bit of SPY at $410.49. Bought on 10/13/2022 at $349.43
Sold a bit of QQQ at $300.30. Bought on 09/29/2022 at $269.28
Sold a bit of AMAT at $115.76 (near a 6-month high). Bought on 05/11/2022 at $104.00.
Hold another lot at $75.00
Sold a bit of MSFT at $250.01. Bought on 09/23/2022 at $237.00
Hold another lot at $219.13
Sold a bit of DOW at $60.01. Bought on 07/14/2022 at $48.66
Hold another lot at $45.97
Sold a bit of NKE at $129.23. Bought on 05/11/2022 at $107.77.
Hold another lot at $102.75
BA,
STO May 19, 160 put at 1.78, adding to my position. Stock is trading at $214
LABU SOXL
Sold LABU Feb 03 2023 8.0 Puts at $0.32
Paired with calls sold yesterday
Sold SOXL Feb 03 2023 15.5 Calls at $0.47
Sold SOXL Feb 03 2023 13.0 Puts at $0.11
Total #ShortStrangle premium $0.58
Today’s Economic Announcements
S&P Global Manufacturing (Final) PMI for January (9:45 a.m.)
Construction Spending for December (10 a.m.)
ISM Manufacturing PMI for January (10 a.m.)
JOLTS Job Openings for December (10 a.m.)
Energy Information Administration Crude Oil Inventory Data (10:30 a.m.)
FOMC Policy Announcement (2 p.m.)
Fed’s Powell Speaks (2:30 p.m.)
Wards Total Vehicle Sales for January
Options Bistro 