Sold 1 BOIL Sep 15 2023 45/50 Bull Put Spread at $0.60
Sold 1 CVS Sep 29 2023 70.0 Covered Call at $0.13
Sold DG Sep 15 2023 132.0 Covered Calls at $0.45
Sold DG Sep 15 2023 139/133 Bear Call Spreads at $0.27
Sold 1 VXX Sep 15 2023 26/21.5 Bear Call Spread at $0.35 Credit
Corrected the expiration dates
Monthly Archives: September 2023
What!!!!!
Former FTX CEO Sam Bankman Fried’s lawyers have requested for a pre-trial release because the internet sucks in jail.
SPX same day
#SPX1dte Sold to Open $SPX Sep 11th 4415/4435-4510/4530 condors for 1.00, deltas -.07 +.06, IV 17.7%
Expiration / AI Call close
#optionsexpiration
$AI 26/37 strangle
$RIOT 12.5 call
$TSLA 265 call
#coveredcallss
$AI BTC 9/15 35 call at .05. STO at 1.25. Should have closed stock before earnings
Economic Calendar 9/11 – 9/15
There are no “three bull” (market moving) items for Monday, Tuesday, or Friday. CPI report on Wednesday could be a mover if it varies much from estimate.
SPX risk reversal
#SPX1dte Trying again… this week the Upside Warning did NOT come trhough and we dropped. But it was not severe so I am still looking for a retest of the 4607 high of 7/27.
Sold to Open $SPX Sept 15th 4335/4315 put spreads, delta -.06
Bought to open Sept 15th 4570/4590 call spreads, delta +.06
Total debit -.10
This is a double sized position.
DG
Sold DG 09/15/2023 118.0/122.0 Bull Put Spreads at $0.53 Credit
Sold DG 09/15/2023 134.0/129.0 Bear Call Spreads at $0.27 Credit.
#OnlySpreads
SNOW
#ShortPuts – 80 percent 6 weeks early.
Bought to Close SNOW Oct 20 2023 130.0 Put @ .55 (sold for 2.87)
Risk off
#SPX1dte Closed call side for .30 by selling to open $SPX Sept 8th 4510/4490 put spreads for 19.70.
ADBE adjustment
With the stock at 569, rolled $ADBE Sep 15 465/455 bull put spread up to 540/530 for 2.03 credit. Position is now a 530/540/580/590 iron condor, with 4.77 total premium taken in. I will take this position off before the end of the day on Thursday 9/14 (earnings after the bell).
SPX same day
#SPX1dte Sold to Open $SPX Sept 8th 4395/4415-4490/4510 condors for 1.45, deltas -.09 +.07, IV 19.9%
Futures were dead flat when I was filled, so I went a little more aggressive on deltas than I normally do, since I’m only slightly profitable in this short week.
MA,
STO October 20, 400 puts at 4.15
GOOGL, BTO October 20, 130 calls at 8.50
HE
rolled HE 14.5 put/9.8.2023 to next Friday/credit .11 (.96 so far)
SPY
#ShortPuts – Early fill.
Sold SPY Oct 20 2023 425.0 Put @ 3.20
Risk off
#SPX1dte Took off downside risk for 0.25 by selling $SPX Sept 7th 4380/4400 call spreads for 19.75.
AMZN
ROLLED AMZN 132 call 9.8.2023 to next Friday/ 132 call .80 credit (9.52 so far)
SPY,
STO September 29, 419 put at 1.04
SPX same day
#SPX1dte Sold to Open $SPX 4380/4400-4485/4505 condors for 1.10, deltas -.07 +.07, IV 21%
AI Strangle
#earnings #shortstrangles
$AI STO 9/8 26/37 strangle at .81.
Some Risk off
#SPX1dte Bought to close $SPX Sept 8th 4390/4370 put spreads for .50. This is part of the #RiskReversal I placed last Friday for a -.10 debit. The long call side is failing, but I’m at downside risk on the put side so I took off HALF of the put position. I will leave the other half to either expire or get stopped out (this trade is double the size of my normal size).
TSLA
#CoveredCalls – Rolled to the week before earnings. If stock called away it will be a tiny profit. Might roll to earnings eventually…
Rolled TSLA Sep 15 2023 200.0 Call to Oct 13 2023 200.0 Call @ 2.25 credit (71.15 total now)
SPX stopped
#SPX1dte Bought to close $SPX Sept 6th 4445/4425 put spreads for 1.25. Condors sold this morning for .85
BOIL HE
Sold 1 BOIL Sep 8 2023 47/51.5 Bull Put Spread at $0.51 Credit
Sold HE Sep 8 2023 9.5/11.5 Bull Put Spreads at $0.17 Credit
#OnlySpreads
SPY,
STO October 20, 425 put at 2.20
SPX same day
#SPX1dte Sold to Open $SPX 4425/4445-4525/4545 condors for .85, deltas -.06 +.05, IV 18.6%
SPY TLT
#ShortPuts – A couple late fills.
Sold SPY Oct 20 2023 430.0 Put @ 2.50
Sold TLT Oct 20 2023 94.0 Put @ 2.10
SPXpire
#SPX1dte Expiring: $SPX Sep 5th 4445/4465-4540/4560 condors, sold this morning for 1.00.
Rolling out SNOW puts
Originally sold the $SNOW Sep 15 150 puts (for 5.15) to potentially go long. With the move up, I’m rolling the position out to Oct 20 150 puts (29 delta) @ 3.65 credit. Total premium taken in now 8.80.
Rolling up SHOP puts
Originally sold the $SHOP Sep 15 60 puts (for 3.48) to potentially go long. With the move up, I’m rolling the position up and out to Oct 20 65 puts (40 delta) @ 2.86 credit. Total premium taken in: 6.34.
DG
Sold DG Sep 08 2023 140.0 Calls at $0.20
Sold DG Sep 08 2023 139.0 Calls $0.30
Sold DG Sep 08 2023 138.0 Calls at $0.40
Sold DG Sep 08 2023 136.0 Calls at $0.50
All these against leftover long calls from last week
Sold DG 124/127 Bull Put Spreads at $0.60 Credit
#OnlySpreads
BOIL VXX UVXY
Sold BOIL Sep 08 2023 47/53.5 Bull Put Spreads at $0.80 Credit
Bought VXX Sep 15 2023 27.5 Calls / Sold VXX Sep 08 2023 22.0 Calls at $0.22 Credit
Bought VXX Sep 15 2023 27.5 Calls / Sold VXX Sep 08 2023 21.5 Calls at $0.37 Credit
Bought UVXY Sep 15 2023 25.0 Calls / Sold UVXY Sep 08 2023 15.0 Calls at $0.27 Credit
#OnlySpreads
HE
#shortputs
STO HE 8 SEP 2023 14.5 PUT @.85
Economic Calendar 9/4 – 9/8
SPX same day
#SPX1dte Sold to Open $SPX Sep 5th 4445/4465-4540/4560 condors for 1.00, deltas -.06 +.07, IV 18%
Upside Warning is reinstated
#VIXIndicator An Upside Warning took effect at the close Friday after three consecutive closes of $VIX below the 78.6 Fib line drawn from pre-correction low and correction high. This could mean higher prices in coming days or weeks.
This is the FOURTH Upside Warning we’ve seen WITHOUT any intervening Downside Warnings. That’s the first time that has happened in the 20+ years of tracking this indicator.
Here is data on last several Upside Warnings.
July 14, 2023: close on that day: 4,505. Subsequent high was 4,607 on July 27. 9 trading days, +2.3%
June 5, 2023: close on that day: 4,274. Subsequent high was 4,458 on June 30. 18 trading days, +4.3%
Mar 30, 2023: close on that day: 4,051. Subsequent high was 4,187 on May 1. 21 trading days, +3.4%
Nov 23, 2022: close on that day: 4,027. Subsequent high was 4195 on Feb 2. 47 trading days, +4.2%
Aug 5, 2022: close on that day: 4145. Subsequent high was 4325 on Aug 16. 7 trading days, +4.3%
Mar 29, 2022: (failed) close on that day: 4631. SPX did not go higher. UpW was canceled after 6 trading days
Dec 27, 2021: close on that day: 4791. Subsequent high was 4818 on Jan 4. 6 trading days, +0.6%
Oct 18, 2021: close on that day: 4486. Subsequent high was 4743 on Nov 22. 14 trading days, +5.7%
Aug 25, 2021: close on that day: 4496. Subsequent high was 4595 on Sep 2. 6 trading days, +1.1%
Aug 13, 2021: (headfake) close on that day: 4468. Subsequent high was 4480 the next day. Canceled the day after that.
May 28, 2021: close on that day: 4204. Subsequent high was 4393 on July 7. 31 trading days, +4.5%
Mar 15, 2021: close on that day: 3969. Subsequent high was 4238 on May 7. 40 trading days, +6.8%
Feb 5, 2021: close on that day: 3886. Subsequent high was 3950 on Feb 16. 6 trading days, +1.6%
Nov 11, 2020: close that day: 3585. Subsequent high was 3726 on Dec 18. 25 trading days, +3.9%
Closing SMCI
Bought to close $SMCI Sep 15 210/220/340/350 iron condor for .62. Sold for 2.65 on 8/9.
AMZN
#rolling
sept 1 to sept 8th 132 call/credit .32/total so far 8.72
SPY,
STO October 20, 440 puts at 4.01 for a small starter position and will add more on a pull back.
XBI
#CoveredCalls – Easing these up a little.
Rolled XBI Sep 01 2023 75.0 Calls to Oct 06 2023 75.5 Calls @ .30 credit (3.95 total now)
TLT
#ShortPuts #CoveredCalls – Picking up a little more credit and adding.
Rolled TLT Sep 15 2023 99.0 Calls to Sep 15 2023 97.5 Calls @ .17 credit (.57 total now)
Rolled TLT Sep 15 2023 99.0 Calls to Sep 15 2023 97.0 Calls @ .26 credit (.66 total now)
Sold TLT Oct 20 2023 95.0 Put @ 2.10
Sold TLT Oct 20 2023 96.0 Put @ 2.25
TQQQ,
STO October 20, 33 puts at .66 cents.
TQQQ, STO october 13, 35…
TQQQ, STO october 13, 35 puts at .74 cents.
August Jobs Report
#Jobs — Higher than expected, but downward revisions of past months and UE ticks up.
Gain of +187,000 non-farm payroll jobs, vs. expected gain of 170K
Unemployment up 0.2 to 3.7%, highest since Feb 2022
U6 unemployment 7.1%, up by 0.4
Labor force participation at 62.8%, up to pre-Covid levels
Average hourly earnings up by 0.2%; 4.3% increase over the year, each 0 .1 weaker than expected
July jobs revised down by -30K to +157K
June jobs revised down by -80K to +105K
SPX same day
#SPX1dte Sold 3 minutes after Jobs report release: $SPX 4455/4575-4570/4590 condors for 1.10, deltas -.07 +.06
Options Bistro 