#coveredcalls
$AI STO 12/15 29.50 call at .45
Monthly Archives: December 2023
SPX trades 12/11
#SPX1dte Sold to Open $SPX Dec 11th 4550/4570-4635/4655 condors for 1.05, deltas -.08 +.06, IV 16.2%
Economic Calendar 12/11 – 12/15
ENPH Condor Expiration
1 ENPH Dec 08 2023 117/107/102/99 Short Iron Condor sold for $2.15.
#OnlySpreads
SPY Expiration
1 SPY Dec 08 2023 466/463 Bear Call Spread
1 SPY Dec 06 2023 465/462 Bear Call Spread
#OnlySpreads
BOIL – rolling out a week
Rolled deep in the money BOIL puts out a week for decent credits and rolled down the following:
Rolled BOIL 32 Puts to BOIL 31 Puts for $0.47 Credit
Rolled BOIL 31 Puts to BOIL 29 Puts for $0.56 Credit
Rolled 1 BOIL 30 Put to 1 BOIL 29 Put for $0.90 Credit
TLT
#ShortPuts – A couple more.
Sold TLT Dec 15 2023 93.5 Puts @ .75
NOC
#SyntheticShortStock – Selling against a long term synthetic short out to 2026. Rolling out a week and down a strike.
Rolled NOC Dec 08 2023 480.0 Puts to Dec 15 2023 477.5 Puts @ 2.00 credit (7.45 and 4.50 total now)
TLT
#ShortPuts – Partial re-load.
Sold TLT Dec 15 2023 94.0 Puts @ 1.00
Sold TLT Dec 15 2023 95.0 Puts @ 1.50
SPX trades 12/8
#SPX1dte Sold to Open $SPX 4515/4535-4630/4660 condors for 1.00, deltas -.05 +.07, IV 21.65%
Muted reaction to Jobs number, wish I could have sold before the report but been burned too many times this year.
November Jobs Report
#Jobs — A bit more than expected. Wages increased strongly.
Gain of +199,000 non-farm payroll jobs, vs. expected gain of 185K
Unemployment down by 0.2 to 3.7%, vs expected unchanged
U6 unemployment 7.0%, down by 0.2
Labor force participation at 62.8%, up by 0.1
Average hourly earnings up by 0.4%; 4.0% increase over the year
September jobs revised down by -35K to +262K
October jobs unchanged at 150K
SPY Expiration
1 SPY Dec 07 2023 466/460 Bear Call Spread
SPY Dec 06 2023 466/459 Bear Call Spreads
#OnlySpreads
TLT
#ShortPuts – Some of these were sold in the money for a directional trade. After this big move I’m thinning the herd a little. Hoping to build a bigger Jan position on a pullback.
Bought to Close TLT Dec 15 2024 93.0 Put @ .39 (sold for 3.05)
Bought to Close TLT Dec 15 2024 94.0 Put @ .69 (sold for 2.30)
Bought to Close TLT Dec 15 2024 95.0 Put @ 1.10 (sold for 2.20)
Bought to Close TLT Jan 05 2024 93.0 Put @ .91 (sold for 2.44)
Bought to Close TLT Jan 05 2024 94.0 Put @ 1.27 (sold for 3.10)
Bought to Close TLT Jan 05 2024 95.0 Put @ 1.71 (sold for 3.85)
SPX trades 12/7
#SPX1dte Sold to Open $SPX Dec 7th 4500/4520-4590/4610 condors for .90, deltas -.07 +.06, IV 16.7%
Weekly jobless claims came in exactly as expected so market has no meaningful reaction. Tomorrow’s MONTHLY job number may have more impact as we have both CPI and Fed Decision coming next week.
Bearish?
Today’s candlestick is bearish engulfing. Similar to last Wednesday, but that time was not engulfing on the lower side like today’s.
SPY Expiration
1 SPY Dec 06 2023 466/460 Bear Call Spread
1 SPY Dec 06 2023 459 Call
#OnlySpreads
Closing LLY
Not much left to make here, so I’m taking it off. Bought to close $LLY 12/15 540 put @ .35. Sold for 3.30 on 11/8.
SPX trades 12/6
#SPX1dte Sold $SPX Dec 6th 4555/4535 put spreads for 1.15, delta -.17
Tiny Stock Gains
Sold some more:
VNO at $28.02
USB at $40.01
BBY at $75.01
CPB at $43.01
#FormerFallingKnife #GoingToCash
SPY Expiration
SPY Dec 05 2023 457 Calls
SPY Dec 05 2023 458 Call
SPY Dec 05 2023 459 Call
BOIL CVS SPY
BOIL vs Put Assignment Friday
Sold 1 BOIL Dec 08 2023 38 Covered Call at $0.90
CVS Covered Call Ladder
Sold 1 CVS Dec 08 2023 73 Covered Call at $0.28
Sold CVS Dec 15 2023 73 Covered Calls at $0.58 and $0.68
Sold 1 CVS Dec 22 2023 74 Covered Call at $0.59
SPY Calls for today
Sold SPY Dec 05 2023 457 Calls at $0.98
Sold 1 SPY Dec 05 2023 458 Call at $0.22
Sold 1 SPY Dec 05 2023 459 Call at $0.13
#OnlySpreads
Something I Read
Sentiment always reverses faster than you’d expect. At first, it might feel like the bad times will only worsen. But when they don’t, folks begin to look at the bright side – and the next thing you know, everyone’s bullish again.
Typically, that process takes time… usually months, not weeks or days. But the recent stock reversal is an exception.
You see, stocks were oversold at the October bottom based on the relative strength index (“RSI”).
The RSI looks at recent prices to determine if a stock has moved too far, too fast. When that happens, a snapback rally is possible. So it’s worth paying attention to this indicator.
We generally refer to an RSI reading below 30 as “oversold.” In other words, a rally is likely. And we refer to an RSI above 70 as “overbought,” meaning a decline is likely. The S&P 500 Index just went from oversold to overbought in just a month.
Reversals that quick have only happened 10 other times since 1950. That makes today’s action incredibly rare.
More important, the market sees consistently higher gains after these setups.
You might expect stocks to suffer after becoming overbought. But history shows the opposite is likely to happen after a quick RSI reversal. In fact, the market tends to massively outperform the typical 7.9% annual gains we’ve seen since 1950.
Similar instances led to 4.4% gains in three months, 8% gains in six months, and an impressive 12.5% gain over the next year. Those are solid results. Plus, stocks were higher a year later 70% of the time.
This isn’t what we’d typically expect after the RSI shows stocks are overbought. And most folks out there are still looking for reasons to sell.
But the data is clear. It tells us that the recent rally will continue. So don’t get caught on the sidelines as it unfolds.
SPX 12/5
#spx0dte
STO 12/5 $SPX 4500/4520 – 4595/4615 at .85
SPX trades 12/5
#SPX1dte Bought to close $SPX Dec 5th 4610/4630 call spreads for .10. Condors sold yesterday for 1.45. 4520/4500 put spreads still short. Econ data coming at 9:45 & 10 ET.
SPY Expiration
SPY Dec 04 2023 457 Calls
SPY Dec 04 2023 458 Call
#OnlySpreads
Tiny stock gains
Sold small pieces of all these:
AAP at $54.86
BXP at $64.29
FITB at $30.30
MMM at $100.45
PARA at $15.81
UPS at $156.01
VNO at $27.01
ZION at $39.01
#FormerFallingKnife #GoingToCash
SPX
#spxcampaign
At the morning drop
$SPX STO 12/4 4530/4550 BUPS at 3.84. BTC on the way up at 1.80. Patience might have been golden, but it could turn to coal.
UVXY blip
A tiny bump up off of new lows in UVXY:
Sold UVXY Dec 15 2023 17/13 Bear Call Spreads at $0.14 Credit
Sold UVXY Dec 15 2023 17.5/13.5 Bear Call Spreads at $0.12 Credit
Sold UVXY Dec 15 2023 18/13.5 Bear Call Spreads at $0.12 Credit
Sold UVXY Dec 29 2023 17/14 Bear Call Spreads at $0.19 Credit
#OnlySpreads
SPY
#ShortPuts – New SPY ladder starting in Jan monthly down around the 50 day and the expected move.
Sold SPY Jan 19 2024 435.0 Put @ 2.45
Sold SPY Jan 19 2024 440.0 Put @ 3.19
SPX hedge (SPY hedge hedge)
#BearishDoubleVertical #BullPutSpreads – Taking gains on the long put side. Adding a SPY hedge against the call side of the SPX hedge. Very bullish SPY up to my short call SPX strikes but with very limited downside. Overall still hoping it tanks to 4000. LOL
Sold to Close SPX Jan 19 2024 4400/4300 Bear Put Spread @ 11.10 (“bought” for 3.00 credit)
Leaving the short call side on for now (4750/4760) and selling SPY put spreads to help protect those in another rally.
Sold SPY Jan 19 2024 480/460 Bull Put Spreads @ 16.00
I’ll manage those by planning to take stock at a basis 4 dollars above wherever the stock is at expiration if we tank.
Stuff
Tomorrow: The health of the auto market will be in focus, with AutoZone and Nio, the Chinese electric vehicle maker, set to deliver results.
Wednesday: Earnings reports are due from GameStop and C3.ai, with shares in the latter up roughly 175 percent this year amid investor enthusiasm for artificial intelligence.
Thursday: Lululemon and Dollar General report results.
Friday: It’s the jobs report. Economists have estimated that employers added roughly 200,000 positions last month, which would keep the unemployment rate unchanged at 3.9 percent. Market watchers will be paying particular attention to wage gains and revisions of previous months’ data for an indication of whether the labor market is cooling off, or if October’s tepid report was just a blip.
SPX trades 12/4
#SPX1dte Sold to Open $SPX Dec 4th 4525/4545-4620/4640 condors for 1.15, deltas -.07 +.07, IV 18%
SPX hedge
#BearishDoubleVertical – New hashtag! LOL Going out to Jan monthly and using the expected move for strike selecions. Trade makes money anywhere below 4750 but the lower the better.
Sold SPX Jan 19 2024 4750/4760 Bear Call Spreads
Bought SPX Jan 19 2024 4400/4300 Bear Put Spreads
Ratio of 5 calls for one put so net credit of 3.00
Economic Calendar 12/4 – 12/8
Stocks
Closed out my last tiny positions in these for gains
WHR at $114.01
CCI at $117.61
MTB at $130.01
Sold a bit more ZION at $37.01
#FormerFallingKnife
TQQQ,
BTO March 15, 40 calls at 7.35
More BOIL Puts
Bought to close BOIL Dec 01 2023 36.0 Puts at $0.05
Replaced them with 1 short BOIL Dec 08 2023 35.0 Put at 1.55
#OnlySpreads
SPY Calls today
Sold SPY Dec 01 2023 460.0 Diagonal Calls at $0.12, $0.20 and $0.29
Crazy strong market
TQQQ,
STO December 15, 45 puts at 2.09
TLT
#ShortPuts – Another.
Bought to Close TLT Dec 15 2023 92.0 Put @ .95 (sold for 3.45)
TLT
#ShortPuts – No sign of a JP pullback. Maybe this will throw a wet blanket on the bond market for awhile.
Sold TLT Jan 19 2024 95.0 Put @ 3.23
Sold TLT Jan 19 2024 96.0 Put @ 3.91
Sold TLT Jan 19 2024 97.0 Put @ 4.65
SPY
#ShortPuts – I’ll keep peeling these off as it climbs.
Bought to Close SPY Dec 15 2023 435.0 Puts @ .35 (sold for 2.08 avg)
FIDELITY is DOWN
“Sorry, we have run into a small problem.
Don’t worry, it’s nothing you did, just a minor system error on our end. We’re working on it and hope to have it resolved soon.”
SPX trades 12/1
#SPX1dte Sokd to Open $SPX 4515/4535-4610/4630 condors for .65, deltas -.06 +.05, IV 20.2%
Waited until Powell finished remarks and for Q&A to begin. Went with less aggressive deltas, so I have less chance of stepping in sh*t on a Friday.
TLT
#ShortPuts – Taking off the bottom of the big Dec ladder for decent gains before JP starts yakking today. Hopefully a JP dip to reload.
Bought to Close TLT Dec 15 2023 88.0 Put @ .24 (sold for 2.77)
Bought to Close TLT Dec 15 2023 89.0 Put @ .41 (sold for 2.80)
Bought to Close TLT Dec 15 2023 90.0 Put @ .66 (sold for 3.40)
Bought to Close TLT Dec 15 2023 91.0 Put @ 1.03 (sold for 3.70)
NOC
#SyntheticShortStock – Long term short out to 2026. Been selling short put a little too aggressivey so bringing it back in and only slightly in the money.
Bought to Close NOC Jan 19 2024 480.0 Put @ 11.40 (sold for 12.95)
Sold NOC Dec 08 2023 480.0 Put @ 5.45
QQQ,
STO:
December 15, 350 puts at .17
December 22, 350 puts at .32
December 29, 350 puts at .47
December 29, 360 puts at .88
January 5, 360 puts at 1.19
BOIL Puts
Bought to close BOIL Dec 01 2023 34 Puts at $0.05



