FRC

2023-04-28_13-46-09

OptionsExpiration

BOIL 4.0 Covered Call
BOIL 5.5 Covered Calls

FRC 17.5 Diagonal Call

LABU 6.5/6 Bear Call Spread

PNC 150/134 Bear Call Spread
PNC 145/133 Bear Call Spread

SOXL 20/16.5 Bear Call Spread
SOXL 11.5/12.5 Bull Put Spreads
SOXL 10/12 Bull Put Spread

UVXY 6.5/4.5 Bear Call Spreads
UVXY 5.0 Covered Calls

VXX 46.0,47.0 and 48.0 Covered Calls
many, many VXX Bear Call Spreads

I made a graph

Below is some analysis of year-to-date performance of my #SPX1dte strategy. It compares the width of my condor (number of SPX points between short strikes, ranging from 70 to 305), and premium collected (ranging from .85 to 1.80, but shown on chart as 85.00 to 180.00). The VIX daily closing price is also shown at top for reference.

The main finding is that the orange bars, representing width, have dropped a lot in recent weeks. Premium used to be consistently below width, and now it is consistenly higher. Volatility struck this week but we were not able to get an increase in width, which led to my terrible, horrible, no good, very bad week.

SPX1dte-STUDY

SOXL Put Roll

Bought to close 1 SOXL Mar 28 2023 13.5 Put at $0.04. Sold on Monday at $0.16
Rolled to 1 SOXL 05/05/2023 12.5 Put at $0.18 for a $0.14 Credit

Bought to close SOXL Apr 28 2023 13 Puts at $0.01. Sold at $0.11 and $0.18.
Rolled to SOXL May 05 2023 12.5 Puts at $0.14 for a $0.13 Credit
#OnlySpreads

VXX Call Ladder

Starting in on next week
Sold 1 VXX May 05 2023 41.0 Call at $0.50
Sold 1 VXX May 05 2023 41.5 Call at $0.43
Sold 1 VXX May 05 2023 42.0 Call at $0.38
Sold 1 VXX May 05 2023 42.5 Call at $0.36
Sold 1 VXX May 05 2023 43.5 Call at $0.27

LABU Call Roll

Bought to close 1 LABU Mar 28 2023 5.5 Call at $0.08. Sold it last week on a roll at $0.45
Rolled to 1 LABU 05/05/2023 5.5 Call at $0.30 for a $0.22 Credit
#OnlySpreads

PNC Calls

For safety(I’m probably panicking for no reason), I rolled a couple of the 4 PNC short calls I’m carrying into the close up 5 p0ints for one more week:
Bought to close 1 PNC Mar 28 2023 131.0 Covered Call / Sold 1 PNC 05/05/2023 136.0 Covered Call at $0.10 Credit
Bought to close 1 PNC Mar 28 2023 132.0 Call / Sold 1 PNC 05/05/2023 137.0 Call at $0.34 Credit
Waiting to see if my 133 and 134 calls expire

Not my week

#SPX1dte Bought to close $SPX Apr 26th 4165/4185 call spreads for 4.20. Absolutely brutal.

SPX same day

#SPX1dte Sold to Open $SPX Apr 28th 4055/4075-4165/4185 condors for .85

FRC DISH Put Rolls

Bought to close 1 FRC Apr 28 2023 3.5 Put at $0.10. Sold on Tuesday at $0.20
Replaced it with 1 FRC May 05 2023 2.5 Put at $0.45

Straight out closed the other FRC Apr 28 2023 3.5 Put at $0.05. Sold at $0.15

Bought to close 1 DISH Apr 28 2023 7.0 Put at $0.05. Sold on a rolldown last Friday at $0.16
Replaced it with 1 DISH May 05 2023 6.5 Put at $0.25

#SmallVictories

HAS Stock

Sold out of a tiny position in one account:
Sold HAS at $58.57.
Bought on 11/16/2022 at $57.00 and again on 03/10/2023 at $50.98
#FormerFallingKnife #RaisingCash

SPY

#closing
#BIGmovetoday/
one day on. Take profit and run. put capitol back ready for another day.
better then waiting 15 and 29 days. I have seen this movie before!!/LOL

BTC SPY 12 MAY 2023 388 PUT @.60 / sold for 1.62
BTC SPY 26 MAY 2023 395 PUT @2.29/sold for4.39

Pain

#SPX1dte – Well, today is the type of day I try to avoid at all costs. My first major failure in many months.

The first quarter of the year was so quiet that 100% of my stops turned out to be unnecessary. So I loosened up and let some days breech my stop and stayed in the trade. Then we got a downside warning and I started stopping out again, and to great benefit. However, I was still taking a more relaxed approach, not acting quickly when stop was first touched and waiting for a pullback.

This week included THREE stops, all of which would have been less costly had I acted soon after the first breech.

So lesson has been learned. I will be reacting quickly on stops moving forward, and only slightly relaxed after a period of complacency. Even then, I won’t allow my hope for a intraday reversal guide my strategy.

VIX Puts

Bought 1 VIXW May 03 2023 16.0 Put at $0.04
Sold 1 VIXW May 03 2023 17.0 Put at $0.23.
Looks like I made the right decision to cover the 18.0 Put at $0.23 yesterday
#OnlySpreads

SOXL

#rolling
#thursdayroll

SOXL 5 MAY 2023/28 APR 2023 13.5 PUT@ .36 /credit
SOXL 5 MAY 2023/28 APR 2023 13 PUT @ .41/ credit

#onlyspreads

SPX,

STO 4120/4140 put spread at .30 this morning, then I had to go out and got into a fender bender in the parking lot at the store. I need this trade to work out. LOL

SPX stopped

#SPX1dte Bought to close $SPX Apr 27th 4105/4125 call spreads for 2.50. Condors sold yesterday for 1.20

Whipsaw week, two stop outs on opposite ends. After the quick surge from 4089 to 4096, stopped out on the pull back.

#rolling

PFE Stock

Started a tiny new position in PFE at $39.00. Div = 4.1%
Q1 2023 Earnings Expected 05/02/2023

#SP500 #FallingKnife

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 27th 3970/3990-4105/4125 condors for 1.20. Deltas reversed from -.06 +.07 to be -.07 +.06 between entering order and the fill.

SPY

#shortputs

sto SPY 12 MAY 2023 388 PUT @1.62
sto SPY 26 MAY 2023 395 PUT @4.39

SPX risk off

#SPX1dte Bought to close $SPX Apr 26th 4025/4005 put spreads for .10. Condors sold this morning for 1.20.

VXX Put

Sold 1 VXX Apr 28 2023 38.5 Put at $0.19.
Sold a whole lot of VXX Calls yesterday so no additional margin

#smallbuy #dividends .64 monthly payer…

#smallbuy
#dividends .64 monthly payer
BOT TLTW @34.21

Tidals version of TLT

same like TSLY tidals version of TSLA

PNC

A big move for a big regional bank considering it’s normal trading range is much calmer (from below 121.50 yesterday to about 128.50 today)
Putting on some diagonal bear call spreads for future weeks:
Bought 1 PNC May 12 2023 150.0 Call/ Sold 1 PNC May 05 2023 134.0 Call at $0.35 Credit
Bought 1 PNC May 19 2023 150.0 Call/ Sold 1 PNC May 05 2023 135.0 Call at $0.75 Credit
Bought 1 PNC May 19 2023 150.0 Call/ Sold 1 PNC May 12 2023 135.0 Call at $1.09 Credit

VIX Put

The VIX index seems to be retreating
Bought to close 1 VIXW May 03 2023 18.0 Put at $0.23. Sold at $0.29
Sold to open 1 VIXW May 03 2023 17.0 Put at $0.10 against a long position of a 16.0 Put

SPX,

STO 4005/4025 put spread at .50 this morning

SPX same day

#SPX1dte Sold to Open $SPX Apr 26th 4005/4025-4125/4145 condors for 1.20, deltas -.06 +.07.

Futures were fairly calm over night, so perhaps yesterday was an isolated event. Regardless I will be watching closely today.

SPY

#ShortPuts – One quick fill today.

Sold SPY May 26 2023 395.0 Put @ 3.22

VIX OptionsExpiration

On 4/20 sold 1 VIXW Apr 26 2023 35/19 Bear Call Spread at $0.75 Credit
At 4:08 today, covered the short Call at $0.30.
Probably didn’t need to do that though but the VIX did get above 19.80 briefly

The other spread I sold later that day, 1 VIXW Apr 26 2023 30/20 Bear Call Spread sold at $0.42 will likely expire
The final settlement of the VIX contracts are determined on the open tomorrow
This is because it is an AM settled option.

The government just announced that…

The government just announced that they are taking over FRC

SPX stopped

#SPX1dte Bought to close $SPX Apr 25th 4085/4065 put spreads for 4.60. Condors sold this morning for 1.10.

Biggest debit of 2023 thus far. May be my first losing week of the year, but I think I can get it to be a bit on positive side..

VXX Call Ladder

Sold VXX Apr 28 2023 42.0 Calls at $0.60 and $0.69
Sold VXX Apr 28 2023 42.5 Calls at $0.43, $0.54 and $0.59
Sold VXX Apr 28 2023 43.0 Calls at $0.45, $0.52 and $0.53
Sold VXX Apr 28 2023 43.5 Calls at $0.41 and $0.43
Sold VXX Apr 28 2023 44.0 Calls at $0.33 and $0.36
Sold VXX Apr 28 2023 44.5 Call at $0.32
Sold VXX Apr 28 2023 45.0 Call at $0.28
Sold VXX Apr 28 2023 45.5 Call at $0.25
Sold VXX Apr 28 2023 46.0 Call at $0.22
Sold VXX Apr 28 2023 46.5 Calls at $0.20, $0.21 and $0.27
Sold VXX Apr 28 2023 47.0 Calls at $0.22 and $0.24
Sold 1 VXX Apr 28 2023 47.5 Call at $0.30
Sold 1 VXX Apr 28 2023 48.5 Call at $0.21

Pretty much done with VXX until Friday

KMB USB CFG Stocks

Sold a tiny position in KMB at $144.86. Bought on 03/08/2022 at $124.11 and got a year’s worth of dividends too.
#FormerFallingKnife

Added to my tiny USB position at $32.24.
Added to my tiny CFG position at $28.00
#SP500 #FallingKnife

SOXL

#rolling
#kickthecan
SOXL 12 MAY 2023/28 APR 2023 12 CALL @.30
SOXL 5 MAY 2023/28 APR 2023 15.5 PUT @.24

#onlyspreads

SPX same day

#SPX1dte Sold to open $SPX Apr 25th 4065/4085-4155/4175 condors for 1.10, deltas -.07 +.08

Going a little looser on deltas to get some premium, but certainly higher risk to whippy days.

META Earnings Iron Condor

#earnings #ironcondor
Earnings Wednesday after the close.
$META STO 4/28 185/190 – 240/235 at 1.40

MARA FRC Call

#coveredcalls
$MARA STO 4/28 10 call at .30
$FRC STO 4/28 16.50 call at 1.65

Well the $FRC cover not a good idea. Stock down $3.54 after hours, clearly surpassing the $$1.65 for the cover.

#onlyspreads

SPY

#spy7dte
STO SPY 1 MAY 2023 398/394 PUT @.14

VIX one-day index launches

Further to Iceman’s post from Friday, the new one-day $VIX index launched this morning, ticker $VIX1D

https://www.prnewswire.com/news-releases/cboe-global-markets-launches-1-day-volatility-index-designed-to-measure-volatility-over-current-trading-day-301805109.html

SOXL Put, Boil Call

Sold 1 BOIL Apr 28 2023 4.0 Covered Call at $0.05

Sold 1 SOXL Apr 28 2023 13.5 Put at $0.16
Paired with my SOXL Apr 28 2023 16.5 Short call for a total strangle premium of $0.42
#OnlySpreads

META

#onlyspreads
STO META 28 APR 2023 177.5/167.5 PUT @.40

SPX same day

#SPX1dte In pre-market, sold to open $SPX Apr 24th 4070/4090-4165/4185 condors for .95, deltas -.07 +.06

SPY

#onlyspreads
sto SPY 21 APR 2023 410/406 PUT @.35 /expired

#spy7dte
sto SPY 28 APR 2023 396/392.5 PUT @.13
sto SPY 28 APR 2023 397/393 PUT @.14

OptionsExpiration

BOIL 4.0, 4.5, 5.0 and 5.5 Covered Calls

LABU 3.5/5.5 Bull Put Spreads

SOXL 21.5/17 Bear Call Spread
SOXL 11.5/13.5 Bull Put Spread
SOXL 12/14 Bull Put Spread
SOXL 12/14.5 Bull Put Spread

UVXY 4.5 and 5.0 Covered Calls

VXX 64/48 Bear Call Spreads
VXX 58/48.5 Bear Call Spread
VXX 57/45.5 Bear Call Spread
VXX 56/45 Bear Call Spread
VXX 56/44.5 Bear Call Spreads
VXX 55/44 Bear Call Spreads
VXX 54/43.5 Bear Call Spread
VXX 53/43 Bear Call Spread
VXX 42.5, 42.0, 41.5 and 41.0 Diagonal Calls

VXX 30/38 Bull Put Spreads
VXX 31/38 Bull Put Spreads
VXX 32/39 Bull Put Spreads
VXX 39.0 Diagonal Puts

Expired

VXX Puts

Now that my VXX Apr 21 39.0 Puts are expiring I’m selling some for next week.
Sold VXX Apr 28 2023 37.0 Diagonal Puts at $0.22, $0.25 and $0.29
Sold against existing long VXX May Puts
#VXXContango

SPX 1-dte

#SPX1dte Not trading for Monday, gonna wait for the morning.

AMZN Stock

Sold the last of my tiny AMZN stock position at $108.01
Bought on 11/09/2022 at $88.00
#FormerFallingKnife #RaisingCash

PNC Calls

Rolled a whole bunch of PNC April 21 2023 Calls up 4 points each for just one more week
Rolled PNC 127 Covered Call to PNC 131 Covered Call at $0.39 Credit
Rolled PNC 128 Call to PNC 132 Call at $0.29 Credit
Rolled PNC 129 Call to PNC 133 Call at $0.24 Credit
Rolled PNC 130 Call to PNC 134 Call at $0.19 Credit
All this while PNC was actually falling on the day

LABU Call Roll, SOXL Put sale

Bought to close LABU Apr 21 2023 6.0 Diagonal Calls at $0.06. Sold at $0.16
Rolled them to LABU Apr 28 2023 6.5 Diagonal Calls at $0.08 for a $0.02 Credit and a $0.50 higher Strike

Bought to close 1 LABU Apr 21 2023 6.0 Covered Call at $0.06
Sold 1 LABU Apr 28 2023 6.0 Covered Call at $0.28

Why is LABU so strong on Friday recently??
The rest of the market = ZZZZZZZZZZzzzzzzzzzzzzzz

Sold 1 SOXL Apr 21 2023 14.5 Put at $0.12
0DTE

The VIX Is Dead, Long…

The VIX Is Dead, Long Live The 0DTE VIX

https://www.zerohedge.com/markets/vix-dead-long-live-0dte-vix

#spx1dte

VXX Trades

Closed 1 VXX 38/48 short strangle at $0.02. Sold last Friday at $0.45

Bought to close 1 VXX Apr 21 2023 41.0 Covered Call at $0.21. Sold at $0.46
Rolled it up to 1 VXX Apr 28 2023 46.0 Covered Call at $0.53

Later:
Bought to close VXX Apr 21 2023 40.5 Covered Calls Net Credit at $0.04. Sold yesterday on a rolldown at a $0.58 Average
Rolled them UP to VXX Apr 28 2023 48.0 Covered Calls at $0.27 for a $0.23 Credit with a big jump in the short strike

Bought to close VXX Apr 21 2023 43.5 Covered Calls at $0.01. Sold them at $0.22 earlier this week
Rolled them UP to VXX Apr 28 2023 48.0 Covered Calls at $0.30 for a $0.29 Credit

Bought to close 1 VXX Apr 21 2023 42.0 Covered Call at $0.01. Sold at $0.34 yesterday
Rolled it UP to 1 VXX Apr 28 2023 48.0 Covered Calls at $0.30 for a $0.29 Credit

SPX risk off

#SPX1dte Bought to close $SPX April 21st 4055/4035 put spreads for .10. Condors sold yesterday for 1.05. Risk still ON for call side, but it seems the precipitous moves this week have been downward.

Lesson learned last week: If I get to the end of the week and I’m at or above my 3.00 target, lean toward taking risk off and ending the week strong, rather than last week when the final two hours of day chopped 2.20 off my week.

Provided no upside surge today, week’s profit is +4.00

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 21st 4035/4055-4165/4185 condors for 1.05, SPX at 4120, deltas -.06 +.07

Expiring: Apr 20th 4075/4095-4205/4225 condors, sold yesterday for .90

VXX Call Rolldown for this week

Trying for a bit of extra premium 1DTE
Doing what I can to keep my VXX 39.0 short puts out of the money

Bought to close VXX Apr 21 2023 42.0 Covered Calls at $0.28 and $0.29. Sold earlier this week at $0.31 and $0.33
Bought to close 1 VXX Apr 21 2023 42.5 Covered Call at $0.22. Sold earlier this week at $0.27
Bought to close 1 VXX Apr 21 2023 43 Covered Call at $0.18. Sold earlier this week at $0.24

Sold VXX Apr 21 2023 40.5 Covered Calls at $0.56, $0.57, $0.58 and $0.59
Since the calls are covered, if I have to roll them back up, I will (for a credit of course)
#DoubleDip

I am going to hold…

I am going to hold off on a trade until tomorrow. There are more earnings and it could have a effect on the market tomorrow morning and the FED head is not helping.

LABU SOXL Call Rolls

Moving early so I have less to worry about tomorrow

Rolled 1 LABU Apr 21 2023 5.5 Call to next week’s LABU Apr 28 2023 5.5 Call at $0.14 Credit
#OnlySpreads

Still have LABU Covered Calls at the same strike that I will hold until near the close tomorrow

Rolled UP 1 SOXL Apr 21 2023 15.5 Call to next week’s SOXL Apr 28 2023 16.5 Call at $0.04 Credit and bumped the short strike up above this week’s HIGH price
#OnlySpreads

VIX Bear Call Spreads

A couple more on the open:

Bought 1 VIXW Apr 26 2023 35 Call at $0.07
Sold 1 VIXW Apr 26 2023 19 Call at $0.82 for a $0.75 Credit

Bought 1 VIXW May 03 2023 35 Call at $0.21
Sold 1 VIXW May 03 2023 22 Call at $0.80 for a $0.59 Credit

PACW put spread

#speculation #bullputspreads #assignment

Sold this $PACW Apr 21st 15/10 put spread for 3.70 on March 17th, and it fizzled out, failing to get above 11 until yesterday. I was on a plane when it peaked at 11.71 so didn’t close. Last night, ASSIGNED on the short puts on over half of the spreads. Today, looking to close remaining SPREADS for 3.50, breakeven covering commissions. Also will look to sell stock if we get over 11.50, which would be effectively the same. Earnings are next week so no interest in holding on to the stock longer.

SPX,

STO 4070/4090 put spread at 1.15 in the pre market.

#spx1dte

SPY

#optionsexpiration
#onlyspreads
SPY 19 APR 2023 412/408 PUT STO@.30

TSLA

BTO TSLA 200 calendar 1.22
earning AMC, big volume, and big IV skew.

VIX Bear Call Spreads

The VIX index just hit a new 52-week low at 16.17, pressuring my bull put spreads
As a partial offset I put on the following VIXW (Vix Weekly) Bear call spreads.
Bought 1 VIXW May 03 2023 35.0 Call at $0.11
Sold 1 VIXW May 03 2023 21.0 Call at $0.64 for a $0.53 Credit

Bought 1 VIX May 17 2023 42.5 Call at $0.22
Sold 1 VIX May 17 2023 26.0 Call at $0.77 for a $0.55 Credit

With my long VXX and UVXY stock benefiting greatly if the VIX rallies, I’m not likely to be pressured to close these prematurely.

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 20th 4075/4095-4205/4225 condors for .90. SPX at 4156. Deltas -.06 +.06. Only partial fill so far but about to board a plane. That’s why I’m selling earlier than usual.

Expected to Expire: Apr 19th 4090/4110-4200/4220 condors, sold yesterday for 1.00

UVXY Covered Calls

Couldn’t get any premium for this week so went out a couple of weeks
Sold to Open UVXY May 05 2023 5.5 Calls at $0.11
Sold to Open UVXY Apr 28 2023 5.0 Calls at $0.07.
Waiting for volatility to return to this market.

ALGN Stock

Sold all of my ALGN stock at $356.01.
Started buying in Jan 2022 at $494.00 and stopped after 7 buys on 10/27/2022 at $178.00
Overall, made 7.5% (with no dividend income) and not worth the hassle.
I don’t often buy no dividend stocks any more
This frees up a bit of cash as the market looks toppy
#FormerFallingKnife #RaisingCash

SOXL SPY

#rolling
SOXL 28 APR 23/21 APR 2023 15.5 PUT @.32 credit
#onlyspreads
Sto SPY 19 APR 2023 412/408 PUT @.30

STO 4070/4090 put spread at…

STO 4070/4090 put spread at .80 in the premarket

SPX 1 DTE

#spx1dte
$SPX STO 4/19 4085/4105 – 4220/4200 at .95

Expired
SPX 4075/4095 – 4210/4190 Sold at .95

SPX out

#SPX1dte Bought to close $SPX Apr 18th 4140/4120 put spreads for .85. Sold for 1.30 this morning.

Market just too unstable and close to my strike. I will post tomorrow’s trade in comments, but waiting until final minutes of the day.

JPM Stock

Sold a tiny bit of JPM at $141.38.
Bought on 03/07/2022 at $129.00
#FormerFallingKnife #RaisingCash

SCHW Put / SGML Call

#shortputs
$SCHW STO 4/21 53 put at .52

#coveredcalls
$SGML STO 4/21 40 call at .45

MARA Put Close

#shortputs
$MARA BTC 4/21 10 put at .05. STO at .88 on 4/12

SPX stop and roll

#SPX1dte Bought to close $SPX Apr 18th 4185/4205 call spreads for 1.40. Condors sold yesterday for 1.10 (I did not post this trade)

#Rolling Sold to open $SPX Apr 18th 4120/4140-4200/4220 condors for 1.30. Deltas -.13 +.05. Aggressive bullish roll for today.

SHOP U PLL Call

#coveredcalls
$SHOP STO 4/21 50 call at .51
$U STO 4/21 31.5 call at .31
$PLL STO 4/21 60 call at .65

It looks like no trade…

It looks like no trade for me for tomorrow because there is not enough premium or volatility.