SPXpire

#SPX1dte Expected to expire: $SPX May 9th 4070/4090-4160/4180 condors sold this morning for 1.30,

I will sell tomorrow after the CPI reaction settles in.

Off Topic…My first ChatGPT (Bored)

Explain what option positions take a long view of a stock

ChatGPT
Option positions that take a long view of a stock are those that profit from an increase in the underlying stock’s price over time. The two primary types of option positions that take a long view of a stock are:

Call options: A call option gives the holder the right, but not the obligation, to buy a specific stock at a predetermined price (strike price) on or before a specific date (expiration date). If the stock price increases above the strike price, the call option holder can exercise their option and buy the stock at the lower strike price, then sell it in the open market at the higher market price, realizing a profit.

Bull call spreads: A bull call spread involves buying a call option at a lower strike price and selling a call option at a higher strike price. This creates a limited-risk, limited-reward position that profits if the stock price increases above the higher strike price. The potential profit is limited to the difference between the two strike prices, minus the cost of the options.

In both cases, the option holder is betting that the stock price will increase over time, and profits from the increase in the stock price.

Fuzzy adds:

No mention of selling puts. C’mon man!

BKNG EWZ

#onlyspreads

Sto BKNG 12 MAY 2023 2500/2495 PUT @.20

#shortputs
Sto EWZ 12 MAY 2023 29 PUT @.36

SPX same day

#SPX1dte Sold to Open $SPX May 9th 4070/4090-4160/4180 condors for 1.30, deltas -.08 +.09. Banking on another quiet day before CPI report, so deltas are both aggressive and width is only 70 points.