Afternoon tiny buys at new lows:
FITB at $29.67. Div = 4.1%
WU at $11.00. Div = 8.2%
BAX at $38.28. Div = 2.9%
BXP at $60.00. Div = 6.3%
#SP500 #FallingKnife
Daily Archives: Friday, March 10, 2023
SPX
BTO SPX Apr 3700/3600/3400 1/3/2 BWB @21.3 credit.
A lot of fear out there. short around the Oct low.
BTO SPX 3/20 3/17 4050 call calendar @1.2 ,
good RR if it moves that direction, doesn’t have to get there.
OptionsExpiration
What a fun week – he said sarcastically
==Expired==
LABU 11.5/7/5 Bear Call Spreads
LABU 7.5 Diagonal Calls
LABU 7.5 Covered Call
SOXL 19/17.5 Bear Call Spreads
SOXL 18.5/17 Bear Call Spreads
SOXL 18/16.5 Bear Call Spreads
SOXL 13.5 Diagonal Puts
SOXL 13.0 Diagonal Puts
SPY 415/402 Bear Call Spread
UVXY 4.5 Diagonal Puts
VXX 11.5 Diagonal Puts
VXX 10.5 Diagonal Puts
==Assignments==
Assigned on 5 VXX(Adjusted) 10.5 Covered Calls (represents 125 shares)
Couldn’t roll them out to next week or even out 2 weeks because of the gigantic bid/ask spreads.
I’ll take the loss on a small portion of my long stock, partially offset by the Put expirations in VXX above
Downside Warning in effect
#VIXindicator Fired at the close with $VIX over 25% higher than its two-day closing low.
Here are recent Downside Warnings for reference:
Fired 9/23/22, at the SPX close of 3,693.23. The SPX low of 3,491.58 was 14 trading days later (-5.5%)
Fired 4/22/22, at the SPX close of 4,272. The SPX low of 3,637 was 39 trading days later (-14.9%)
Fired 2/11/22, at the SPX close of 4,419. The SPX low of 4,115 was 8 trading days later (-6.9%).
Fired 1/20/22, at the SPX close of 4,483. The SPX low of 4,223 was 2 trading days later (-5.8%).
Fired 11/26/21, at the SPX close of 4,585. The SPX low of 4,495 was 5 trading days later (-2.0%).
Fired 9/20/21, canceled quickly but fired again on 9/28/21, at the SPX close of 4,353. The SPX low of 4,278 was 4 trading days later (-1.7%).
Fired 8/18/21, at the SPX close of 4,427. The SPX low of 4,368 was the next day, so another FALSE warning (-1.3%).
Fired 7/19/21, at the SPX close of 4,258. The SPX low was also that day, so this was a FALSE warning.
Fired 5/11/21, at the SPX close of 4,152. The SPX low was the next day at 4,056, so basically a FALSE warning. It dipped again 5 trading days after that to 4,061, then recovered from there(-2.3%).
Fired 2/25/21, at the SPX close of 3,829. The SPX low of 3,723 was 5 trading days later (-2.8%).
Fired 1/27/21, at the SPX close of 3,750. The SPX low of 3,694 was only 2 days later (-1.5%).
Fired 9/3/20, at the SPX close of 3,455. The SPX low of 3,209 was 3 weeks later on Sep 24th (-7.1%).
SPX 1-dte
#SPX1dte In last minute before closing bell, sold to open $SPX March 13th 3730/3750-3955/3975, SPX at 3861, deltas -.06 +.06
AMZN GOOGL SPY TLT
#CoveredCalls #ShortPuts #SyntheticCoveredCalls
AMZN: Synthetic covered.
Bought to Close AMZN MAR 10 2023 94.0 Calls @ .05 (sold for 1.76)
Bought to Close AMZN MAR 10 2023 95.0 Calls @ .05 (sold for 1.70)
Bought to Close AMZN MAR 10 2023 96.0 Calls @ .05 (sold for 1.26)
Sold AMZN MAR 17 2023 92.0 Calls @ 2.23
Sold AMZN MAR 17 2023 93.0 Calls @ 1.76
Sold AMZN MAR 17 2023 94.0 Calls @ 1.35
GOOGL: Synthetic covered.
Bought to Close GOOGL MAR 10 2023 92.0 Calls @ .05 (sold for 1.20)
Sold GOOGL MAR 17 2023 92.0 Calls @ 1.48
Sold GOOGL MAR 17 2023 92.5 Calls @ 1.29
SPY: A few.
Bought to Close SPY MAR 10 2023 389.0 Calls @ .45 (sold for 5.85)
Sold SPY MAR 13 2023 386.0 Calls @ 3.77
Sold SPY MAR 13 2023 387.0 Calls @ 3.00
Sold SPY MAR 13 2023 388.0 Calls @ 2.58
Rolled SPY MAR 10 2023 399.0 Put to MAR 17 2023 396.0 Put @ .40 credit (3.55 total now)
Rolled SPY MAR 10 2023 400.0 Puts to MAR 17 2023 397.0 Puts @ even (2.45 and 4.00 total now)
TLT: Covered.
Rolled TLT MAR 10 2023 103.0 Calls to MAR 24 2023 104.5 Calls @ even
UVXY call spread
Sold to open $UVXY Apr 21 7/12 bear call spread @ .62
SPY VIX SOXL
SOLD VIX 17 MAY 2023 [AM] 50 CALL @.65 /bto for .49
BTO VIX MAY 17 2023 17 STRIKE @ .21
#spy
SOLD SPY 10 MAR 2023 388 PUT @1.17 /bto .16 yesterday
—
#rolling
SPY 10 MAR 2023 392 to 14 MAR 2023 PUT 389 @.49
#optionsexpiration
soxl 13 btc .01
—
#rolling
SOXL 17 MAR 2023/10 MAR 2023 13.5 PUT @.70
SOXL 17 MAR 2023/10 MAR 2023 12 PUT @.31
VIX
STO VIX Apr 30/31 BeCS 0.2 , this pairs up with the 19/15 BuPS sold on monday.
XBI,
STO May 19, 165 puts at 1.51
XBI
STO XBI Apr21’23 70 PUT @ 1.50
SPY
The SPY went positive for a few minutes so I rolled my last SPY Put position for this week
Rolled today’s SPY Mar 10 2023 396.0 Put to Monday’s SPY Mar 13 2023 395.0 Put at $0.21 Credit.
My SPY Daily Put ladder for next week is:
Monday: 395
Tuesday: 392
Wednesday: 390
#OnlySpreads
LABU
#rolling
#kickthecan
SOLD CALENDAR LABU 17 MAR 2023/10 MAR 2023 6 PUT @.08
VXX and UVXY Calls
Going to the moon???
Sold UVXY Mar 17 2023 6.0 Calls at $0.30, $0.33, $0.35 and $0.42
Sold UVXY Mar 17 2023 6.5 Calls at $0.33, $0.41, $0.44 and $0.60
Sold 1 VXX Mar 17 2023 54.0 Call at $1.29
Sold 1 VXX Mar 17 2023 55.0 Call at $1.35
Sold 1 VXX Mar 17 2023 56.0 Call Net at $1.58
Sold 1 VXX Mar 17 2023 57.0 Call Net at $2.53
#OnlySpreads
KRE
STO KRE Jun16’23 40 PUT @1.20
Stocks
Decent yields all around as a bunch of tiny old orders fill on the opening
LNC at $26.36. Div = 6.5%
HAS at $50.00. Div = 5.4%
MTB at $125.10. Div = 3.9%
MMM at $105.00. Div = 5.6%
SCHD at $72.50. Div = 3.5%
TFC at $38.70. Div = 5.0%
VNO at $17.35. Div = 8.3%
ZION at $37.61. Div = 3.8%
#SP500 #FallingKnife
SPX stopped
#SPX1dte Bought to close $SPX 3850/3830 put spreads for 3.25. Condors sold an hour earlier for 1.50.
That makes for my worst week of 2023 so far, but still managed a profit of +1.35.
Upside Warning canceled
#VIXindicator Well, yesterday was not an anomaly. Drop continues, I will be stopped out, and the Upside Warning in effect since late November was just canceled with the $VIX spiking higher.
SPX 1-dte
#SPX1dte SAME DAY Sold to Open $SPX March 10th 3830/3850-4010/4030 condors for 1.50, deltas -.06 +.06
February Jobs report
#Jobs — Down from January, but exceeding expectations again. Wage growth lower than expected, which may be taken as good news about inflation
Gain of +311,000 non-farm payroll jobs, vs. expected gain of 225K
Unemployment rose 3.6%, vs. expected 3.4%
U6 unemployment 6.8%, up by 0.2
Labor force participation 62.5%, up by 0.1
Average hourly earnings up by 0.2%; 4.6% increase over the year. Both are 0.2 lower than expected.
January jobs revised down by -14K to +504K
December jobs revised down by -21K to +239K
Options Bistro 