#ShortPuts – A little risk reduction on the move today.
Bought to Close SPY MAY 19 2023 405.0 Put @ .18 (sold for 2.90)
Bought to Close SPY MAY 19 2023 407.5 Put @ .29 (sold for 5.55)
Monthly Archives: May 2023
SPX stopped
#SPX1dte Bought to close $SPX May 17th 4165/4185 call spreads for 2.20. Condors sold yesterday for 1.10. That makes me flat for the week, only two days to go. I have had three losing weeks in a row, let this not become a fourth.
TLT
#CoveredCalls – Bought to Close TLT MAY 19 2023 107.0 Calls @ .02 (sold for 1.13)
U Call / EYE Hear
#coveredcalls
$U STO 5/19 30 call at .43
XBI
#ShortPuts – Starter.
Sold XBI JUN 16 2023 80.0 Puts @ 1.30
TLT XBI
#SyntheticStock #ShortPuts – A slow week so far.
TLT: Added to synthetic.
Bought TLT JAN 17 2025 105.0/105.0/75.0 Synthetic Stock /Disaster Puts @ 2.80
Sold TLT MAY 26 2023 105.0 Calls @ .63
XBI: Awful liquidity in the synthetic so closing for tiny winners and moving back to put sales.
The good:
Sold XBI JUN 20 2025 80.0/80.0/40.0 Synthetic Stock with Disaster Puts @ 8.75 avg. (basis 4.85)
The bad:
Bought to Close XBI MAY 19 2023 80.0 Calls @ 5.00 ( sold for 1.40)
The result:
Net gain of .30 on the entire position. (mid was around 11.00 for the synthetic and filled below 9.00…uugh)
SPX 1-dte
#SPX1dte Sold to Open $SPX May 17th 4050/4070-4165/4185 condors for 1.10, SPX at 4125, deltas -.06 +.07
SPY,
STO, June 30
380 puts at 2.25
385 puts at 2.75
390 puts at 3.35
SPX 1-dte
#SPX1dte Expiring: $SPX May 15th 4030/4050-4165/4185 condors, sold Friday for 1.10
Spread is cheap and narrow for tomorrow so I will wait to sell in the morning
VIX
bot VIX 17 MAY 2023 [AM] 50 CALL @.01 /had bto.32
Market Movers???
SPX 1-dte
#SPX1dte Sold to Open $SPX May 15th 4030/4050-4165/4185 condors for 1.10, deltas -.06 +.06.
Sorry forgot to press “Post” on Friday.
BKNG EWZ SOXL
BKNG 2495/2500 put spread/sto @.20
EWZ 28.50 AND 29.00 PUT STO @ .35 AND .36
SOXL 12 PUT STO @.16
SPX risk off
#SPX1dte Bought to close $SPX May 12th 4070/4050 put spreads for .10. Condors sold yesterday for 1.05.
KRE SPY TLT
#ShortPuts #SyntheticCoveredCalls – A few.
KRE: Small synthetic stock position.
Bought to Close KRE MAY 12 2023 39.5 Calls @ .01 (sold for .70)
Sold KRE JUN 16 2023 39.0 Calls @ 1.00
SPY: One add.
Sold SPY JUN 09 2023 400.0 Put @ 3.10
TLT: Synthetic stock and long stock.
Bought to Close TLT MAY 12 2023 106.0 Calls @ .01 (sold for .55)
Sold TLT MAY 19 2023 106.0 Calls @ .56
F SOXL
#shortputs
Sto F 19 MAY 2023 12 PUT @.32
#rolling
SOXL 26 MAY 2023/12 MAY 2023 12 CALL @.20
SOXL 26 MAY 2023/12 MAY 2023 15.5 PUT @.30
F
#shortputs
sto F 19 MAY 2023 12 PUT @.35
SPX 1-dte
#SPX1dte Sold to Open $SPX May 12th 4050/4070-4175/4195 condors for 1.05, SPX at 4127, deltas -.06 +.06
GOOGL
#SyntheticStock – This one never had a chance. Run over from the beginning so never got close to a full position.
The good:
Sold GOOGL JUN 20 2025 95.0/95.0/40.0 Synthetic Stock with Disaster Puts @ 30.00 (basis 8.50)
The bad:
Bought to Close GOOGL JUN 02 2023 95.0 Calls @ 21.85 (sold for 1.75)
Bought to Close GOOGL JUN 02 2023 96.0 Calls @ 21.00 (sold for 2.10)
The result:
Gain of 1.40 on the 95 covered call position
Gain of 2.60 on the 96 covered call position
SPX risk off
#SPX1dte Closed put side for .10.
AMZN
#SyntheticStock – Been another good run in this one. Seems like it’s due for a rest so taking it off. As always, when covered calls get run over it cuts into (potential) profits. I’ll still take it! 🙂 🙂 🙂
The good:
Sold AMZN JUN 20 2025 100.0/100.0/45.0 Synthetic Stock with Disaster Puts @ 21.45 (basis 4.00)
The bad:
Bought to Close AMZN MAY 19 2023 99.0 Calls @ 13.70 (sold for 2.50)
Bought to Close AMZN MAY 19 2023 100.0 Calls @ 12.75 (sold for 5.45)
The result:
Gain of 6.25 on the 99 covered call position
Gain of 10.15 on the 100 covered call position
SPX same day
#SPX1dte Sold to Open $SPX May 11th 4065/4085-4180/4200 condors for 1.15, delta -.07 +.06
CROX Put Roll
#shortputs
$CROX BTC 5/12 118 put and STO 5/19 116 put at added credit of .30 and $2 lower if assigned
SPX stopped
#SPX1dte BTC put side for 6.55. I honestly have no excuse for this, so I won’t try to make one.
AI Call Roll / AMD Call
#shortstrangles
$AI BTC 5/12 2o call and STO 5/19 21 call at added credit of .10 and gain $1 if called away next week. Put side of strangle should expire
#coveredcalls
$AMD STO 5/12 103 call at .40
SPX same day
#SPX1dte Sold to Open $SPX May 10th 4200/4220 call spreads for .45, when delta was +.04.
Looking to sell the 4085/4065 put spreads.
April CPI report
Core CPI up 5.5%, year over year, as expected.
Non-core up 4.9%, vs 5.0% expected.
Up 0.4% in April.
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
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.
EWZ
Sto EWZ 12 MAY 2023 28.5 PUT @.35 BATS
SPX 1-dte
#SPX1dte Expected to expire: $SPX May 8th 4080/4100-4180/4200 condors, sold this morning for 1.10.
At 45 minutes before closing bell, the 6-delta condor for tomorrow was 95 points wide and worth about .90. Both numbers too low, so there seems to currently be no benefit in selling in afternoon. I will wait again for morning.
Then Wednesday morning before the bell we have the CPI report.
SHOP Call / AI Strangle
#coveredcalls
$SHOP STO 5/12 67 call at .65
#shortstrangles
$AI STO 5/12 20/18 strangle at .80
SPY, STO June 23:
380 put at 2.51
385 put at 3.02
390 put at 3.71
SPX same day
#SPX1dte In pre-market, sold to open $SPX May 8th 4080/4100-4180/4200 condors for 1.10, deltas -.09, +.06.
Going one strike more aggressive on put side after Friday’s rally.
LABU Call Roll / Expiratio
#coveredcalls
$LABU BTC 5/5 6.50 call and STO 5/12 6.50 call at added .22 credit
#optionsexpiration
$PACW 6 call. Sold this morning at .25
#spx1dte
3960/3980 – 4140/4120 at 1.50
BTC call side at .40. Put side expired. I was away from trading for the afternoon and place the BTC order. Quite a ride I didn’t know I took.
Have a great weekend
SPX no trade
#SPX1dte After only a couple days of decent width (155 points for today’s trade, which got stopped out anyway), it’s pretty frustrating to see only a 110 pt spread for a weekend trade. I’m not going to do it. I will sell Monday morning.
TQQQ,
STO January 2025, 40 puts at 15.55, I think we will be much higher by 2025
ACLS PLL PACW Call
#coveredcalls
$ACLS STO 5/19 125 call at 1.20
$PLL STO 5/19 60 call at .95
$PACW STO 5/5 6 call at .25
TLT
#CoveredCalls #SyntheticCoveredCalls – A few. Received regular divvy today too along with these “synthetic” divvys.
🙂 🙂 🙂
Bought to Close TLT MAY 05 2023 106.0 Calls @ .01 (sold for 2.00)….should fill soon
Bought to Close TLT MAY 05 2023 107.0 Calls @ .01 (sold for .95)
Sold TLT MAY 12 2023 106.0 Calls @ .55
Sold TLT MAY 19 2023 106.0 Calls @ .82
KRE
#CoveredCalls #SyntheticCoveredCalls – A few.
KRE: Another round.
Bought to Close KRE MAY 05 2023 39.5 Calls @ .05 (sold for .64)
Sold KRE MAY 12 2023 39.5 Calls @ .70
SPY,
Yesterday I STO:
June 16,
380 puts at 4.15
385 puts at 4.95
390 puts at 5.90
AMZN GOOGL XBI
#CoveredCalls #SyntheticCoveredCalls – All yesterday rolling up and out.
AMZN: Synthetic covered. Had call ladders but trying to get everything to the same strike for simplicity.
Rolled AMZN MAY 05 2023 98.0 Calls to MAY 19 2023 99.0 Calls @ .21 credit (2.50 total now)
Rolled AMZN MAY 05 2023 99.0 Calls to MAY 19 2023 100.0 Calls @ .42 credit (3.15 total now)
Rolled AMZN MAY 05 2023 100.0 Calls to MAY 19 2023 100.0 Calls @ 1.40 credit (6.20 total now)
GOOGL: Synthetic covered. Had call ladders but trying to get everything to the same strike for simplicity.
Rolled GOOGL MAY 05 2023 94.0 Calls to JUN 02 2023 95.0 Calls @ .15 credit (1.75 total now)
Rolled GOOGL MAY 05 2023 95.0 Calls to JUN 02 2023 96.0 Calls @ .28 credit (1.05 total now)
Rolled GOOGL MAY 05 2023 96.0 Call to JUN 02 2023 96.0 Call @ 1.28 credit (3.90 total now)
XBI: Covered and synthetic covered.
Rolled XBI MAY 05 2023 78.0 Calls to MAY 19 2023 78.5 Calls @ .24 credit (3.05 total now)
Rolled XBI MAY 05 2023 79.0 Calls to MAY 19 2023 80.0 Calls @ even (1.40 total now)
SPX risk off
#SPX1dte Bought to close $SPX May 5th 3985/3965 put spreads for .05. Call side flirting with my stop point so I’m watching.
April Jobs Report
#Jobs — Higher than expected, record low UE, lost -149K on prior month revisions.
Gain of +253,000 non-farm payroll jobs, vs. expected gain of 180K
Unemployment down by 0.1 to 3.4%, tied for lowest since 1969, vs. expected gain to 3.6%
U6 unemployment 6.6%, down by 0.1
Labor force participation 62.6%, same as last month
Average hourly earnings up by 0.5%; 4.4% increase over the year; both 0.2% than expected..
March jobs revised down by -71K to +165K
February jobs revised down by -78K to +248K
SPX 1-dte
#SPX1dte Sold to Open $SPX May 5th 3965/3985-4140/4160 condors for 1.30, deltas -.06 +.06
Width and premium have returned to this trade in recent days.
Expiring: May 4th 3990/4010-4160/4180 condors, sold yesterday for 1.15
KRE
Brought KRE stock @36.00
BTO KRE Aug 18…36 Put @3.95
STO KRE Jun 23…40 Call @1.30
Will be looking for next call sale to cover remaining 2.65 of Put purchase
Jobs Report tomorrow!
SPX,
STO May 4, 3990/4010 put spread at .75 this morning.
SHOP Strangle / LABU AEHR Call
#shortstrangles
$SHOP STO 5/5 46/53 strangle at 1.09
#coveredcalls
STO 5/5 LABU 6.50 call at .06
STO 5/19 AEHR 30 call at .60
SPX-1dte
#SPX1dte Sold to Open $SPX May 4th 3990/4010-4160/4180 condors for 1.15, delta -.06 +.05. Only partial fill so far.
SPY
#ShortPuts – I’d LOVE to get my covered calls back so here you go Mr. Market. The bait is in the water and the cork is bobbing. (sorry still in fishing mode! LOL)
Sold SPY MAY 19 2023 405.0 Put @ 2.90
Sold SPY MAY 26 2023 397.5 Put @ 2.40
Sold SPY MAY 26 2023 400.0 Put @ 2.75
Sold SPY JUN 02 2023 390.0 Put @ 2.20
Sold SPY JUN 02 2023 395.0 Put @ 2.75
AAPL
@BUYWRITE
BOT +100 AAPL @169.97
STO AAPL 5 MAY 2023 170 CALL @3.15
#shortputs
STO AAPL 5 MAY 2023 170 PUT @3.22
2 DAYS UNTIL we see.
TLT
#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)
AMD Call
#coveredcalls #earnings
$AMD STO 5/5 94 call at 1.75. Earnings tonight
KRE
#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
TLT
#CoveredCalls – Early assigned on some more stock.
Sold TLT MAY 19 2023 107.0 Calls @ 1.13
KRE CFG ZION
Tiny buys:
CFG at $26.32 Div = 5.91%
KRE at $40.00 Div = 3.51%
ZION at $22.55 Div = 6.11%
#FallingKnife
UVXY VXX
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
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
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.
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!
VIX Puts
Closed 1 of my VIXW May 03 2023 15/17 Bull Put spreads at $0.02
Sold at $0.28
#OnlySpreads
SPX,
STO 4105/4125 put spread at .85 in the premarket.
TSLY TLTW
BOT TSLY @13.28
BOT TLTW @33.99
SPX 1-dte
#SPX1dte Sold to Open $SPX May 2nd 4135/4115 put spreads for .80. SPX at 4167, delta -.10.
After last week’s debacle and the persistency of narrow-width condors, I legged in today and am doing this tomorrow. I will only sell call spread today if we spike higher in the last 23 minutes. Otherwise will wait for morning.
Expiring: May 1st 4115/4135-4210/4230 condors, legged into for total of 1.20 this morning
CMG F
#onlyspreads
CMG 5 MAY 2023 1950/1945 PUT @.19 credit
—
#shortputs
F 5 MAY 2023 11.5 PUT @.14 credit
SPY
#ShortPuts – A few today.
Bought to Close SPY MAY 05 2023 395.0 Put @ .08 (sold for 3.45)
Bought to Close SPY MAY 05 2023 397.5 Put @ .10 (sold for 2.95)
Bought to Close SPY MAY 05 2023 400.0 Put @ .15 (sold for 3.45)
Bought to Close SPY MAY 05 2023 402.5 Put @ .22 (sold for 8.80)
Bought to Close SPY MAY 12 2023 387.5 Put @ .21 (sold for 3.60)
Rolled SPY MAY 19 2023 390.0 Put to MAY 19 23 407.5 Put @ 1.48 credit (5.55 toal now)
Rolled SPY MAY 26 2023 395.0 Put to MAY 26 23 405.0 Put @ 1.05 credit (4.25 total now)
VIX Index
Another new low at $15.53
NO FEAR about the FED
VXX
Sold VXX May 05 2023 41.0 Covered Calls at $0.21, $0.22, $0.23, $0.24 and $0.25
Sold VXX May 05 2023 41.5 Covered Calls at $0.21 and $0.22
Sold VXX May 05 2023 42.0 Covered Calls at $0.20
Sold 1 VXX May 05 2023 37.0 Diagonal Put at $0.39
Liquidated some very old pre-split Long Puts
Sold to close VXX1 Sep 15 2023 6.0 Puts at $0.16
Sold to close VXX1 Jan 19 2024 5.0 Puts at $0.30 (partial fill)
SPX 1-dte SAME DAY
#SPX1dte Thirty minutes after open bell, sold to Open $SPX May 1st 4135/4115 put spreads for .75.
Not sure if I’ll sell a call side.
LABU SOXL Calls
Sold LABU May 05 2023 6.0 Calls at $0.16, $0.18 and $0.21
Sold 1 LABU May 05 2023 6.5 Call at $0.08
Sold 1 SOXL May 05 2023 16.0 Call at $0.11
#OnlySpreads
Options Bistro 