STO March 22, 4100/4120 call spread at .60
Monthly Archives: March 2023
Markets
Remember, the first 37 moves are a head fake.
SPY on the Fed move
Sold to close one of my long hedges: 1 SPY 03/22/2023 408.0 Call at $0.30
2 hours until expiration
VXX Call Rolled and Put sold
I still have some of the old VXX pre-split Covered Calls
Bought to close VXX1 Mar 24 2023 11.5 Calls at $0.61. Sold on a roll last week at $1.90.
Rolled them to VXX1 Mar 31 2023 12.0 Calls at $0.66 for a $0.05 Credit.
(Like rolling 46.0 Calls to 48.0 Calls)
Also sold 1 VXX 03/24/2023 43.5 Put at $0.15.
#OnlySpreads
VIX index is not worried
Not about banks. Not about the Fed either
CHART OF THE DAY
SPY OptionsExpiration
1 SPY 365/386 Bull Put Spread
No short SPY puts left going into tomorrow’s fed announcement
SPY
#optionsexpiration
expired SPY 100 21 MAR 2023 400/404/385/381 CALL/PUT /sold @.32
btc the 400 short for .02 @2.57 cst. was not a problem till EOD.
SPY
#ShortPuts – A couple more. Gotta take ’em on a rally like this.
Bought to Close SPY MAR 22 2023 390.0 Put @ .40 (sold for 4.40)
Bought to Close SPY MAR 22 2023 392.0 Put @ .66 (sold for 3.70)
TQQQ,
BTC the butterfly and stayed short the $25 put in June
SPY Call
The last few minutes of trading pushed my SPY call in the money. Rolling!!
Bought to close 1 SPY Mar 21 2023 398.0 Call at $1.07
Rolled it to 1 SPY Mar 22 2023 403.0 Call at $1.26 for a $0.19 Credit at a 5 point higher strike.
My short put for today will expire.
#OnlySpreads
SPX 1-dte
#SPX1dte Not placing a trade for tomorrow due to Fed announcement. Looking for yesterday’s to expire but keeping a close eye as only 15 points from call strike and we are looking bullish.
Markets
Chart of the day
Median revenue growth is about to turn negative for the first time while these stocks still trade at over 22x earnings.
TQQQ,
BTO Butterfly, June 16, 25/35/40 and STO 25 put for a credit of .01 cent. I have not been trading these for a long time but if the banks have a problem and the FED is on hold this should work.
FRC Put
Playing this like I would a biotech stock approaching a binary event
Sold 1 FRC 03/24/2023 6.0 Put at $0.25
Stock currently $17.35
SPY TLT
#ShortPuts #SyntheticStock – A couple.
SPY: A little more risk reduction.
Bought to Close SPY MAR 22 2023 391.0 Put @ 1.33 (sold for 4.10)
Bought to Close SPY MAR 24 2023 390.0 Put @ 2.05 (sold for 3.85)
TLT: A new starter synthetic stock out to Jan 2025.
Bought TLT JAN 17 2025 105.0/105.0/75.0 Synthetic Stock /Disaster puts @ 4.85
Sold TLT MAR 24 2023 105.0 Calls @ 1.14
AMAT Stock
Exiting another low dividend payer
Liquidated the last of my tiny position in AMAT at $125.01, very near the YTD high.
Bought on 10/11/2022 at $75.00
#FormerFallingKnife #RaisingCash
VXX Put Ladder and SOXL Call
VXX: Calls yesterday, Puts today
Sold 1 VXX Mar 24 2023 44.0 Put at $0.10
Sold 1 VXX Mar 24 2023 44.5 Put at $0.10
Sold 1 VXX Mar 24 2023 45.0 Put at $0.12 and $0.22
Sold 1 VXX Mar 24 2023 45.5 Put at $0.14
Sold 1 VXX Mar 24 2023 46.0 Put at $0.17, $0.25 and $0.36
Sold 1 VXX Mar 24 2023 46.5 Put at $0.26, $0.33 and $0.40
Sold 1 VXX Mar 24 2023 47.0 Put at $0.22, $0.45 and $0.60
Sold 1 VXX Mar 24 2023 47.5 Put Limit at $0.35 and again at $0.70
Should be easy to roll if necessary. Paired up with an equal number of short calls.
#VXXContango
Sold 1 SOXL Mar 24 2023 18.0 Call at $0.42
#OnlySpreads
SPY
#spy0dte
STO SPY 21 MAR 2023 400/404/385/381 CALL/PUT @.32
SPX,
STO 3895/3915 put spread at .65 in the premarket.
SPY
SPY 20 MAR 2023 390 PUT @.56
thanks @optioniceman
SPX 1 DTE
SPY OptionsExpiration
Expired:
1 SPY 360/387 Bull Put Spread
1 SPY 390.0 Put
1 SPY 395.0 and 1 SPY 396.0 Calls
#OnlySpreads
SPY
#ShortPuts – A little risk reduction prior to the Fed.
Bought to Close MAR 22 2023 380.0 Put @ .45 (sold for 3.50)
SPX 1-dte
#SPX1dte Sold to Open $SPX March 21st 3845/3865-4010/4030 condors for 1.40, SPX at 3948, deltas -.06 +.06
Expiring: March 20th 3780/3800-4010/4030 condors, sold Friday for 1.75
SPY Strangle 1DTE
One last position before Wednesday’s fireworks
Sold 1 SPY Mar 21 2023 398.0 Call at $0.27
Sold 1 SPY Mar 21 2023 386.0 Put at $0.21
#OnlySpreads
PFE LABU CVX U X Covered Calls / PACW BUPS
#coveredcalls
$PFE STO 3/24 41 call .24
$LABU STO 3/24 6 call .04 Channeling my inner @optioniceman
$CVX STO 3/24 157.5 call 1.16
$U STO 3/24 32 call .23
$X STO 3/24 27 call .21
#bups
$PACW STO 4/21 15/20 BUPS at $3.00 Thank you @jeffcp66 for the idea
AAPL
No longer an attractive dividend payer, I’m selling my tiny position in AAPL near it’s YTD high
Sold AAPL at $157.38. Bought on the first trading day of the year at $125.00.
With it’s one dividend payment included, made a respectable 26% 🙂
#FormerFallingKnife #RaisingCash
VXX Call Ladder
Finally moving away from the pre-split contracts
Sold to Open:
1 Contract VXX Mar 24 2023 60 Call at $2.48
1 Contract VXX Mar 24 2023 59 Call at $2.74
1 Contract VXX Mar 24 2023 58 Covered Call at $2.93
1 Contract VXX Mar 24 2023 57 Covered Call at $3.30
1 Contract VXX Mar 24 2023 56 Covered Call at $3.70
DJIA ZIM CRF
#CLEANUP 401K
sold DJIA @21.69 price dropping
bot ZIM @23.72 juicy divi/SMALL POSTION
sold CRF @7.01 price unstable
SPX puts closed
#SPX1dte Bought to close $SPX March 20th 3800/3780 put spreads for .05. Condors sold for 1.75 on Friday. Looking for calls to expire.
SPY 0DTE
Sold 1 SPY Mar 20 2023 396.0 Call at $0.25
Added a sale of 1 SPY Mar 20 2023 390.0 Put at $0.28
0 DTE scalp trade
#OnlySpreads
Stocks
Interesting that 100% of the stocks in my mini high yield portfolio are all up this morning
Doesn’t happen often and it doesn’t last very long
LABU
Sold LABU Mar 24 2023 6.0 Call at $0.06
Sold LABU Mar 24 2023 4.5 Puts at $0.15 and $0.16
#OnlySpreads
Weekend Charts
OptionsExpiration
LABU 6.0 Covered Call
LABU 4.5 Diagonal Put
SOXL 12.5 Diagonal Put
SOXL 12.0 Diagonal Put
UVXY 8.5/6.5 Bear Call Spreads
UVXY 9/7 Bear Call Spreads
VFC 20.5 Cash backed short put
SPY 370/388 Bull Put Spread
SPY 425/400 Bear Call Spread
SPY 407/398 Bear Call Spread
No SPY short puts or calls going into next week
SPY
Sto spy 24 MAR 2023 359/355 PUT @.12
Sto spy 24 MAR 2023 359/355 PUT @.11
SPX 1-dte
#SPX1dte Sold to Open $SPX March 20th 3780/3800-4010/4030 condors for 1.75, with SPX at 3916, deltas -.06 +.06
PACW bull put spread
#speculation #bullputspreads My first non-SPX trade in many months…
Sold to Open $PACW April 21st 15/10 put spreads for 3.70, with PACW at 9.05.
This is risking 1.30 to make 3.70. Stock has over a month to recover. I may choose to close if it drops down below 2.00 pretty quickly, or below 1.00 weeks before expiration.
I have no idea if this bank crisis will get worse, but the risk/reward on the trade is hard to resist when this stock was at 27.00 only 10 days ago.
SPX 1 DTE Closed
#spx1dte
Sold at open
$SPX 3/17 3850/3870 – 4060/4040 at 1.05
Closed put side at .10
AMZN GOOGL SPY XBI
#ShortPuts #SyntheticStock #SyntheticCoveredCalls – A few.
AMZN: Synthetic covered rolls.
Rolled AMZN MAR 17 2023 92.0 Calls to MAR 24 2023 93.0 Calls @ .15 debit (2.05 total now)
Rolled AMZN MAR 17 2023 93.0 Calls to MAR 24 2023 94.0 Calls @ .05 credit (1.80 total now)
Rolled AMZN MAR 17 2023 94.0 Calls to MAR 24 2023 95.0 Calls @ .30 credit (1.65 total now)
Rolled AMZN MAR 17 2023 97.0 Calls to MAR 24 2023 100.0 Calls @ .15 credit (1.75 total now)
GOOGL: Synthetic Covered rolls. Staying prior to earnings.
Rolled GOOGL MAR 17 2023 92.0 Calls to APR 06 2023 93.0 Calls @ .05 debit (1.50 total now)
Rolled GOOGL MAR 17 2023 92.5 Calls to APR 06 2023 94.0 Calls @ .40 debit (.90 total now)
Rolled GOOGL MAR 17 2023 94.0 Calls to APR 06 2023 95.0 Calls @ .05 credit (2.00 total now)
SPY: Rolled calls already (no early divvy assignments!) and rolling some puts today. Using Wed expiration due to high Fed IV.
Rolled SPY MAR 17 2023 390.0 Put to MAR 22 2023 380.0 Put @ .60 credit (3.50 total now)
Rolled SPY MAR 17 2023 395.0 Put to MAR 22 2023 390.0 Put @ .15 credit (4.40 total now)
Rolled SPY MAR 17 2023 395.0 Put to MAR 22 2023 391.0 Put @ .70 credit (4.50 total now)
Rolled SPY MAR 17 2023 396.0 Put to MAR 22 2023 392.0 Put @ .20 credit (3.70 total now)
Rolled SPY MAR 17 2023 397.0 Puts to MAR 22 2023 394.0 Puts @ .10 credit (3.20 total now)
Rolled SPY MAR 17 2023 399.0 Put to MAR 22 2023 397.0 Put @ even (3.50 total now)
XBI: Rolling short puts and adding a synthetic long position.
Rolled XBI MAR 17 2023 80.0 Puts to MAR 24 2023 79.5 Puts @ .05 credit (1.15 total now)
Bought XBI JUN 20 2025 80.0/80.0/40.0 Synthetic Stock/Disaster Puts @ (7.00 fat finger, 5.25 and 4.75)
Sold XBI MAR 24 2023 77.0 Calls @ 1.58
SPX puts closed
#SPX1dte Bought to close $SPX 3860/3840 put spreads for .15. Taking off risk to avoid any Friday craziness.
That ends week with +2.75 profit. My Monday bear put spread died, but did act as a hedge against a collapse. I rarely am able to pick the right entry for long bear trades.
SPY
#SPY7DTE
#onlyspreads
STO SPY 24 MAR 2023 359/355 PUT @.11
LABU
ROLLED LABU march 17, 5.5 to march 23 @ .19 credit
Stocks
To fund my buys of more high yield stocks I’m selling some no-yield/low yield positions
Sold all my GOOGL at $102.00. Started buying this in Sept 2022 at $101.88 and finished buying in November at $91.69.
Made about 5.5% overall.
Sold a tiny bit of my FDX at $225.00 on the jump up from earnings last night and at a 6-month high.
Bought on 03/08/2022 at $199.25.
#FormerFallingKnife
Added a tiny bit on VNO at $14.77
#SP500 #FallingKnife
SOXL and LABU
Rolled 1 SOXL Mar 17 2023 14.0 Diagonal Call to SOXL Mar 24 2023 14.5 Call at $0.02 Credit
Rolled SOXL Mar 17 2023 16.0 Diagonal Calls to SOXL Mar 24 2023 17.0 Calls at $0.13 Credit
Bought to close LABU Mar 17 2023 6.0 Diagonal Calls at $0.01
#OnlySpreads
VXX Calls & Puts
Bought to close VXX1(adjusted) 03/17/2023 13.0 Puts at $0.32. Sold last week on a roll at $2.07
Rolled them to VXX1 03/24/2023 12.5 Puts at $0.36 and lowered the short strike $0.50
Rolled 1 VXX 03/17/2023 49.0 Call to 1 VXX 03/24/2023 51.0 Call at $0.04 Debit(fat finger mistake – should have been entered as a credit) and raised the short strike 3 points
Rolled 1 VXX 03/17/2023 50.0 Call to 1 VXX 03/24/2023 54.0 Call at $0.53 Credit and raised the short strike 4 points
Rolled 1 VXX 03/17/2023 51.0 Call to 1 VXX 03/24/2023 56.0 Call at $0.41 Credit and raised the short strike 5 points
SPX,
STO 3860/3880 put spread at 1.35 in the pre market
SPY SOXL
#optionsexpiration
march 16 383 put
—
#onlyspreads
march spy spreads expired
377/373
370/366
—
#rolling
LABU 24 MAR 2023/17 MAR 2023 6 PUT @.14 CREDIT
SOXL 24 MAR 2023/17 MAR 2023 17/16.5 CALL @.44 CREDIT
—
#shortputs
SOLD -1 LABU 100 17 MAR 23 5.5 PUT @.17
SPX 1 DTE
#spx1dte
$SPX STO 3/16 3740/3760 – 3980/4000 at 1.22 SPX at 3783 Expired
Out all day so no trade for tomorrow unless I try at the open.
SPX 1-dte
#SPX1dte At 12:46 PDT, sold to open $SPX March 17th 3840/3860-4035/4055 condors for 1.20.
Stocks
A few tiny trades early in the day at new lows:
LNC at $21.34
TFC at $29.79 and $30.00
USB at $34.29
#SP500 #FallingKnife
UVXY
Partial position roll
Rolled this week’s UVXY 03/17/2023 5.0 Covered Calls to next week at $0.13 Credit
I will try to roll the rest of them up for a credit if UVXY falls again tomorrow
SPY OptionsExpiration
All expired:
1 SPY 424/400 Bear Call Spread
1 SPY 405/397 Bear Call Spread
1 SPY 370/388 Bull Put Spread
and
1 SPY 03/16/2023 390.0 Diagonal Put (sold on a roll Tuesday at $4.29)
#SPYDailyLadder #OnlySpreads
SPX
Jeff,
Thanks for your advise. I was “Killing it” until March 2nd, since then I’m at 2.96 loss.
Are you using TOS to calculate the expected move?
SPX stopped
#SPX1dte BTC $SPX March 16th 3970/3990 call spreads for 1.50. With my .05 closure of puts that makes the day breakeven, less commissions.
How do you manage the emotional side of trading SPX?
This question is for Jeff and everyone else trading SPX.
When your position is tested, like today with SPX at 3961 and short calls at 3970, how do you manage the emotional side of trading?
I usually close the trade early for a small loss, but most of the time miss out on a winning trade.
I think, it is a purely emotional response, but should be avoided in trading.
- Do you stick to your plan and close early, or hope for the best and see what happens?
- Is your approach different for Calls vs. Puts?
STO SPX 4000/4020 call spread…
STO SPX 4000/4020 call spread at .50 cents in my IRA for a small trade for expiration today.
SPY
#CoveredCalls – With the up move today now need to roll a day early for dividend risk.
Rolled SPY MAR 17 2023 380.0 Call to MAR 24 2023 382.0 Call @ .60 credit (12.25 total now)
Rolled SPY MAR 17 2023 383.0 Calls to MAR 24 2023 385.0 Calls @ .25 credit (9.00 total now)
Rolled SPY MAR 17 2023 384.0 Calls to MAR 24 2023 386.0 Calls @ .35 credit (8.80 total now)
Rolled SPY MAR 17 2023 385.0 Calls to MAR 24 2023 387.0 Calls @ .60 credit (8.60 total now)
How do you know if your in the money short call might be at risk during an ex-dividend event? Here’s a quick and easy way. Just look at the value of the corresponding put:
Any option that has an extrinsic value of less than the amount of the dividend might be a candidate for early exercise. So if a trader is short an ITM call and the strike’s corresponding put is trading for less than the upcoming dividend, they’re more likely to be assigned.
Something just happened
Something just happened
TLT
#ShortPuts – Re-load.
Sold TLT MAR 31 2023 104.5.0 Puts @ 1.00
SPY Put Rolldown
Bought to close 1 SPY Mar 16 2023 392.0 Put at $1.78. Sold this at $4.61 on a rolldown yesterday
Rolled it to tomorrow’s SPY Mar 17 2023 388.0 Put at $1.84 for a $0.06 Credit
Dropped the short strike 4 points
Also sold 1 SPY Mar 17 2023 398.0 Call at $0.43 for tomorrow’s expiration
SPX puts closed
#SPX1dte Bought to close $SPX Mar 16th 3765/3745 put spreads for .05. Condors sold for 1.55 yesterday. This is for safety in volatile market.
XBI
#ShortPuts – One add.
Sold XBI APR 21 2023 75.0 Put @ 2.65
SPX,
STO 3745/3765 put spread at .55 in the premarket
Stocks
Tiny buys at new lows for some high yielders:
WU at $10.14
HBAN at $10.20
PRU at $80.10
PNC at $124.00
#FallingKnife
SPY OptionsExpiration
1 SPY 405/395 Bear Call spread expired
1 SPY 405/397.0 Bear Call spread expired too.
Short a 397 Call and a 400 Call for tomorrow
#OnlySpreads
Stocks
Dumped all my META at $197.16, a new recovery high for this year.
Bought this one 12 times during the 2022 meltdown, getting in at $245.0 to start and ending with a buy at $98.00.
Made about 4% overall and it wasn’t worth the aggravation. 🙂
SPY SOXL
roll SPY 16 MAR 2023/15 MAR 2023 383/386 PUT @.48 /ROLL ONE DAY AND DOWN 386 to 383
roll SOXL 24 MAR 2023/17 MAR 2023 12 CALL @.34
SPX 1 DTE
#spx1dte
$SPX STO 3/16 3740/3760 – 3980/4000 at 1.22 SPX at 3783
Today’s trade
STO 3/15 3790/3810 – 4020/4090 should expire. Sold this morning for .95
SPX 1-dte
#SPX1dte Sold to Open $SPX March 16th 3745/3765-3970/3990 condors for 1.55, SPX at 3877, deltas -.06 +.06
SPX closed
#SPX1dte Bought to close $SPX March 15th 3800/3780 put spreads for .30. Condors sold yesterday for 1.40. My stop was NOT hit but I’m closing for protection in light of a volatile week.
#SPX5dte My ill-timed long put spread (bought Monday for 2.00) has turned out to be a downside hedge for the week on condor trades. But that power will drain a lot tomorrow as Friday expiration nears.
SPX,
Ona bounce I sold the 3900/3920 call spread for 1.20for the expiration today.
UVXY Puts
Bought to close UVXY Mar 17 2023 6.0 Puts at $0.14. Sold on a roll last week at $1.33
Rolled to short UVXY Mar 24 2023 5.5 Puts at $0.18 and picked up $0.50 on the short strike
#OnlySpreads
SPY Put rolled
Rolled today’s SPY Mar 14 2023 390.0 Put to Thursday’s SPY Mar 16 2023 388.0 Put at $0.02 Credit
Dropped the short strike 2 points
#OnlySpreads
Hmmmmmmmm??
#Cant make this up
Federal Reserve Governor Michelle Bowman asserted that the U.S. banking system remained resilient and had a solid foundation of strong capital and liquidity.
Citi Bank economist Veronica Clark said that the Federal Reserve needs to raise rates higher citing the economy is still too strong on a broad basis.
Options Bistro 