Well, that was kind of fun while it lasted
Sold UVXY May 12 2023 5.0 Covered Calls at $0.05
Sold UVXY May 05 2023 6.5/4.5 Bear Call Spreads at $0.05 Credit
Sold UVXY May 19 2023 5.0 Diagonal Calls at $0.10, $0.13 and $0.15

Sold VXX May 05 2023 44.0 Diagonal Calls at $0.16 and $0.20
Sold VXX May 05 2023 43.5 Diagonal Call at $0.19
Sold VXX May 05 2023 43.0 Diagonal Call at $0.20
Sold VXX May 05 2023 42.5 Diagonal Calls at $0.23 and $0.85
Sold VXX May 05 2023 42.0 Diagonal Calls at $0.33 and $0.78
Sold VXX May 05 2023 41.5 Diagonal Calls at $0.39 and $0.78
Sold VXX May 05 2023 41.0 Diagonal Calls at $0.42 and $0.73

fuzzballl 9:55 am on Tuesday, May 2, 2023
Tags: CoveredCalls ( 2,202 ), ShortPuts ( 4,763 )

SPY

#ShortPuts #CoveredCalls – A little early on these today but still some decent rolls for DITM covered calls.

Rolled SPY MAY 05 2023 388.0 Call to JUN 02 2023 391.0 Call @ .30 credit (12.45 total now)
Rolled SPY MAY 05 2023 391.0 Calls to JUN 02 2023 394.0 Calls @ .60 credit (11.40 total now)
Rolled SPY MAY 05 2023 392.0 Calls to JUN 02 2023 395.0 Calls @ .70 credit (11.35 total now)
Rolled SPY MAY 05 2023 393.0 Calls to JUN 02 2023 396.0 Calls @ .90 credit (11.85 total now)

Sold SPY JUN 02 2023 400.0 Put @ 3.00

Jeff 8:26 am on Tuesday, May 2, 2023
Tags: VIXIndicator ( 294 )

Upside Warning canceled

#VIXindicator The Upside Warning, which went into effect on March 30th, was canceled today when $VIX spiked above 19.73, which is 25% above Friday’s close.

This UpW produced a 3.4% increase from the SPX close on March 30th to yesterday’s high of 4,186.93.

If we close with VIX above 19.73 it will mean a Downside Warning.

Jeff 8:13 am on Tuesday, May 2, 2023
Tags: 3, SPX1dte ( 1,714 )

Tail spin continues

#SPX1dte. No, I didn’t get out. I was driving to work when this happened.

Obviously, I need to stop this tail spin. No trade for tomorrow anyway, due to Fed decision. But most likely I need to do two things: (1) get back to basics with condors, even if low premium, and (2) not trade if I can’t be by the computer all morning.

Something changed in the market and SPX options a couple weeks ago. It completely uprooted my strategy which had been going very strong since last summer. I clearly was not ready for that change. I was going on my first quarter mentality of “everything’s fine every day.” It was, and now it isn’t.

As for today, I’m only left to hope for a bounce. That probability is high enough to stop me from closing now for 15.00+.

And now a writers strike has hit Hollywood, so I’m also out of a job!