#shortstrangles
$AI STO 6/9 33/37.50 at $2.15
Daily Archives: Tuesday, June 6, 2023
SPY XBI
#ShortPuts – Taking a lot of risk off.
SPY:
Bought to Close SPY JUN 16 2023 405.0 Put @ .30 (sold for 3.00)
Bought to Close SPY JUN 16 2023 410.0 Put @ .44 (sold for 4.10)
Bought to Close SPY JUN 23 2023 405.0 Put @ .55 (sold for 4.05)
XBI:
Bought to Close XBI JUN 16 2023 80.0 Puts @ .13 (sold for 1.30)
SOXL
Sold SOXL Jun 16 2023 17.5 Puts at $0.18 and $0.19
Offsetting this week’s short calls in SOXL
SPX same day
#SPX1dte Sold to Open $SPX June 6th 4215/4235-4310/4330 condors for .90, deltas -.07 +.05, IV 19.3%.
The IV for today’s chain was only 12.9% before the close yesterday. That extra IV that comes in overnight is why these morning trades have been the better bet. But now that the market isn’t swinging much overnight the choice is tougher. For the same premium 15 minutes before yesterday’s close, I could have gotten 5 more points on put side and 10 more on call side (-.06 +.06 deltas)
Upside Warning in effect
#VIXindicator An Upside Warning went into effect at the close on Monday, meaning probable upside to the market in coming days or weeks. This one comes after the previous UpW was canceled on May 2nd, but no Downside Warning resulted. The market chopped around for a month but stayed fairly strong.
Options Bistro 