Daily Archives: Friday, December 15, 2023
TLT
#ShortPuts – Taking nice gains a month early. Adding to shorter term sales.
Bought to Close TLT Jan 19 2024 95.0 Put @ .48 (sold for 3.23)
Bought to Close TLT Jan 19 2024 96.0 Put @ .69 (sold for 3.91)
Bought to Close TLT Jan 19 2024 97.0 Put @ .98 (sold for 4.65)
Bought to Close TLT Jan 19 2024 98.0 Put @ 1.34 (sold for 3.45)
Sold TLT Dec 22 2023 99.0 Put @ .86
Sold TLT Dec 22 2023 100.0 Put @ 1.56
NOC
#SyntheticShortStock – As usual my covered puts got absolutely smoked. Selling against a long term synthetic short out to 2026. Rolling out and down a strike. Week before earnings.
Rolled NOC Dec 15 2023 477.5 Puts @ to Jan 19 2024 475 Puts @ even (7.45 and 4.50 total now)
At some point I may close the synthetic short and trade the puts like regular sales.
I’m sensing a theme here. LOL Decent directional trades but killing myself with the options. I still have nightmares about owning 900 shares of SOXL at 70 and having calls get run over and selling the stock at 90 just before it went to 600. UUgh.
TLT
#CoveredCalls #ShortPuts – As usual my covered calls got absolutely smoked. I’ve been rolling the calls up and out and selling puts daring it to come back down. Taking put profits and buying back covered calls gradually. Would like to get as much of it uncovered as possible in case JP actually does cut rates (although I am still skeptical).
Adding:
Sold TLT Dec 22 2023 99.0 Puts @ .93
XBI
#CoveredCalls #ShortPuts – As usual my covered calls got absolutely smoked. Letting stock go at a loss and replacing with short puts to get back to even. Last time I tried this I went full position with my put sales right before the last implosion. I’ll be more careful this time going with about one third size and hoping to add.
I’m going this route instead of rolling the calls to get cash back into the sweep earning 5 percent.
XBI Stock called away @ 75.00 (basis 76.90 and 78.25)
Sold XBI Dec 22 2023 84.0 Puts @ .86
SPX trades 12/15
#SPX1dte Sold to Open $SPX Dec 15th 4675/4655 put spreads for .75, delta -.08, IV 21.05%
Options Bistro 