VIX Index Closed at 17.78
Unless the VIX Index opens up above 21 or below 17 tomorrow morning, all my remaining spreads expire.
Nice of them to set the expiration (at the market open) BEFORE the Fed announcement
VIX May 03 2023 16/17 Bull Put Spreads
VIX May 03 2023 33/21 Bear Call Spread
VIX May 03 2023 35/22 Bear Call Spread
VIX May 03 2023 35/23 Bear Call Spread
#ShortPuts – Just to avoid any more early assignments (for now).
Rolled TLT MAY 05 2023 108.0 Puts to JUN 16 2023 108.0 Puts @ 1.30 credit (3.90 total now)
#coveredcalls #earnings
$AMD STO 5/5 94 call at 1.75. Earnings tonight
#SyntheticStock – Starting small out to Jan 2025.
Bought KRE JAN 17 2025 40.0/40.0/30.0 Synthetic Stock /Disaster Puts @ 3.00
Sold KRE MAY 05 2023 39.5 Calls @ .64
#CoveredCalls – Early assigned on some more stock.
Sold TLT MAY 19 2023 107.0 Calls @ 1.13
Tiny buys:
CFG at $26.32 Div = 5.91%
KRE at $40.00 Div = 3.51%
ZION at $22.55 Div = 6.11%
#FallingKnife
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
#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
#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.
#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!
Closed 1 of my VIXW May 03 2023 15/17 Bull Put spreads at $0.02
Sold at $0.28
#OnlySpreads
STO 4105/4125 put spread at .85 in the premarket.
Options Bistro 