With crazy high volatility in silver right now, sold to open $SLV June 21 25/28/32/35 iron condor @ .96. Premium around 1/3 the width of the strikes.
Monthly Archives: May 2024
SPY Puts
Starting a new Put Ladder:
Sold 1 SPY May 21 2024 525/528 Bull Put Spread at $0.28 Credit
Sold 1 SPY May 22 2024 524/527 Bull Put Spread at $0.49 Credit
Sold 1 SPY May 23 2024 523/526 Bull Put Spread at $0.45 Credit
Sold 1 SPY May 24 2024 521/524 Bull Put Spread at $0.38 Credit
GME NUE Puts
Sold 1 GME May 31 2024 / GME May 24 2024 10/16.5 Diagonal Bull Put Spread at $0.69 Credit
Sold 1 GME May 24 2024 10/17.5 Bull Put Spread at $0.99 Credit
Sold 1 NUE May 24 2024 162.5/170 Bull Put Spread at $1.03 Credit
CMG – Trying again
Sold 1 CMG May 24 2024 3075/3100/3275/3300 Iron Condor at $5.17 Credit
ARM F MARA SPCE HE USOY
#onlyspreads
Sto ARM 2024 MAY 24 98/95 PUT @.10
#coveredcalls
Sto F 24 MAY 24 12.5 CALL @.06
Sto SPCE 19 JUL 2024 4 CALL @.03
Sto HE 24 MAY 2024 12 CALL @.09
#shortputs
Sto MARA 24 MAY 2024 16 PUT @.03
–
#smallbuy
#dividends
BOT USOY @20.18
…….AND #everylittlebithelps
GME Calls
Sold 1 GME May 24 2024 41/31 Bear Call Spread at $0.62 Credit
Paired with some Bull Put spreads
CFG stock
Sold 1 tiny bit more of CFG at $37.28 (A new high)
Bought in May 2023 at $26.32
#FormerFallingKnife
SPX 0-dte trades 5/20/24
#SPX0dte Sold to Open $SPX May 20th 5280/5310-5315/5345 condors for 11.10, IV 12.38%, at 8:28 ET
Probably the lowest IV and lowest premium I’ve sold on this trade before the open. Chain IV on SPX options this week is quite low, with a slight rise on Thursday.
Earnings for week of 5/20 – 5/24
OptionsExpiraton
Spreads:
SPY 506/511 Bull Put Spread ( out of SPY puts – need to reload )
CMG 3050/3100 Bull Put Spread
GME 34/30 Bear Call Spread
GME 57/53 Bear Call Spread
GME 57/55 Bear Call Spread
GME 70/62 Bear Call Spread
GME 75/70 Bear Call Spread
GME 18/20 Bull Puts Spread
GME 19.5 Diagonal put
NUE 185/180 Bear Call Spreads
NUE 185/182.5 Bear Call Spread
SBUX 80/78 Bear Call Spread
SBUX 67.5/74 Bull But Spread
UPS 149 Diagonal Put
UPS 143/148 Bull Put Spreads
UPS 155/150 Bear Call Spreads
UPS 155/152.5 Bear Call Spread
Covered Calls:
BMY 46 Call
CVS 59, 60 and 61 Calls
GILD 69 Call
SBUX 77 Call
VFC 13.5 Call
VTRS 13 Call
VXX 13 Calls
WBA 19 Call
Assignments:
NWL 8 Covered Call — stock was put to me at $7.00
I would have had one more big expiration:
CMG 3000/3070/3230/3300 Short Iron Condor but Fidelity risk management chose to cover it at 3:30 even though all sides were safely out of the money.
They spent $200.00 plus commissions to cover a worthless position
F HE LLY NVDA SPCE CONY
SPCE 5/17–3 CALL
NVDA 5/17–820/825 PUT
LLY 5/17–722.50/725 PUT
F 5/17 –12.50 CALL
HE 5/17–13.00 CALL
CONY 5/17–20 AND 21 PUT
HE 5/17–11.00 CALL #assignment
F 5/17–13.50 PUT #assignment
CONY 5/17–22 AND 23 #assignment
Expiration
#optionsexpiration
$NVO 136 call
$NVO 134 call
$MARA 18.50 put
$VKTX 78 call
$VKTX 72 put assigned
$AI 27.50 call
$MOS 30 put
$UPST 32.50 call
SPX
#SyntheticShortStock – Rolling on the little bounce.
Rolled SPX MAY 17 2024 5300.0 Puts to May 20 2024 5300.0 Puts @ 6.25 credit (14.65 and 15.35 now)
TQQQ,
I added to my position of the June 21, 60 call options at 4.70
Economic Calendar 5/20 – 5/24
FOMC minutes on Wednesday afternoon and a butt-load of FOMC members yapping all week.
GME
#BullPutSpreads – Originally sold these to finance the June long puts. Having to manage them now. Uugh. Widening a strike and rolling down. Still long the June monthly 10 strike puts.
Rolled GME May 17 2024 25.0/23.0 Bull Put Spreads to May 24 2024 21.0/18.0 Bull Put Spreads @ .15 debit (.09 total now)
SBUX
SOLD VERT ROLL SBUX /FROM 17 MAY 2024 /to 24 MAY 2024–78/70/78/70 PUT @.15
1.80 so far
SBUX Covered call rolls
Rolled 1 SBUX 05/17/2024 77.0 Call to 1 SBUX 05/24/2024 77.0 Covered Call at $0.39 Credit
Rolled UP SBUX 05/17/2024 77.0 Calls to 1 SBUX 05/24/2024 78.0 Covered Calls at $0.23 Credit early in the day, and at $0.24 Credit much later in the day with the 77 Calls in the money
GME Calls closed – Puts rolled
Bought 1 GME 05/17/2024 65/60 Bear Call Spread at $0.01 – sold Wednesday at $0.33
Rolled 1 long GME 05/17/2024 22.00 Put to 1 GME 05/24/2024 18.0 Put at $0.46 Credit
$1.47 profit on the old long
Hoping for a bounce to roll down the short put
Edit: rolled several profitable long puts down to next week – all for credits
GME Puts
#longputs
STC 6/21 20 puts at 4.25. BTO 5/14 for 2.10. Taking partial. Thank you @fuzzballl
TQQQ,
It look s like my 45 puts will expire at zero today.
SPX 0-dte 5/17/24
#SPX0dte Sold to Open $SPX May 17th 5270/5300-5305/5335 condors for 14.15, IV 15.86%, at 8:27 ET
GME yet again
Bought 1 GME May 24 2024 14.0 Put / Sold 1 GME May 17 2024 22.5 Put at a diagonal credit of $0.12
SPY Expiration
1 SPY May 16 2024 507/512 Bull Put Spread – sold at $0.37
1 SPY May 16 2024 533/531 Bear Call Spread – sold this morning at $0.42 Credit
Rolled my SPY 527 Call out to tomorrow at $0.30 Credit
BOIL Calls
In addition to my covered calls for next week, I sold the following spread:
Sold 1 BOIL May 24 2024 25/20.5 Bear Call Spread at $0.25 Credit
META closed
Bought to close 1 META May 17 2024 437.5/442.5 Bull Put Spread at $0.01.
Sold Tuesday at $0.27
SPX
#SyntheticShortStock – Nice to have these back in the game.
Bought to Close SPX May 16 2024 5260.0 Puts @ .40 (sold for 8.25)
Sold SPX MAY 17 2024 5300.0 Puts @ 8.40 and 9.10
TQQQ,
BTO June 21, $60 calls at 5.70. it is a starter position so small for now.
SPX 0-dte trades 5/16/24
#SPX0dte Sold to Open $SPX May 16th 5280/5310-5315/5345 condors for 13.35, IV 15.36%, at 8:34 ET
SPY Expiration
1 SPY 508/513 Bull Put Spread
1 SPY Diagonal 530 Call
Rolled my SPY 527 Call out to tomorrow at $0.52 Credit
CMG VIX Puts
Sold 1 CMG May 17 2024 3050/3100 Bull Put Spread at $0.85 Credit.
Sold 1 VIX May 22 2024 10/12.5 Bull Put Spread at $0.18 Credit.
NVO Call Roll
#coveredcalls
$NVO BTC 5/17 134 call and STO 5/24 136 call at added credit of .15 and $2 more if called away.
SPX
#SyntheticShortStock – Been rolling the short puts out and down during the selloff. With the “V” shaped recovery I’ve been rolling them up and in during the rally. With today’s big bounce I’m bringing them back into tomorrow to get them back in play. Until today most rolls have been for small credits. I’ll take the debit today…still leaves nice gains and I can resume daily selling (unless we tank tomorrow) LOL.
Currently:
SPX May 31 2024 5240.0 Puts @ 27.25
Then:
Rolled SPX May 31 2024 5240.0 Puts to May 16 2024 5260.0 Puts @ 19.00 debit (8.25 total now)
EDIT: Mistyped….19 debit on the roll…not 9. Numbers changed to reflect that.
VKTX Strangle
#shortstrangles
$VKTX STO 5/17 78/72 strangle at 1.40
More GME
Sold 1 GME May 17 2024 18/22/62/70 Short Iron Condor at $0.78 Credit
TQQQ,
STO, June 14, 52 puts at .54
GME Calls
Sold 1 GME 05/17/2024 65/60 Bear Call Spread at $0.33 Credit
ULTY
SPX 0-dte trades 5/15/24
#SPX0dte Sold to Open $SPX May 15th 5185/5205-5315/5335 condors for 1.20, IV 22.23%, deltas -.06 +.07
CPI comes in lower than expected
Inflation eased slightly in April, providing at least a bit of relief for consumers while still holding above levels that would suggest a cut in interest rates is imminent.
The consumer price index, a broad measure of how much goods and services cost at the cash register, increased 0.3% from March, the Labor Department’s Bureau of Labor Services reported Wednesday. That was slightly below the Dow Jones estimate for 0.4%.
On a 12-month basis, however, the CPI increased 3.4%, in line with expectations.
Excluding food and energy, the key core inflation reading came in at 0.3% monthly and 3.6% on an annual basis, both as forecast.
https://www.cnbc.com/2024/05/15/cpi-inflation-april-2024-consumer-prices-rose-0point3percent-in-april.html
$GME and $AMC were halted…
$GME and $AMC were halted 34 times today combined…
GameStop
▪ +100% pre-market
▪ +62% at EOD
AMC
▪ +120% pre-market
▪ +32% at EOD
CMG Puts
Sold 1 CMG May 17 2024 3000/3070 Bull Put Spread at $0.85 Credit
SPY Expiration
1 SPY 05/14/2024 510/515 Bull Put Spread – sold on Friday at $0.32
SPY Calls Rolled
Never thought I would have to roll these calls up (again).
Turned the new spread into a 1 day diagonal to account for Fed driven volatility tomorrow
Bought to close 1 SPY 526/523 Bear Call Spread then
Sold to open 1 SPY May 16 2024 533 / SPY May 15 2024 527 Diagonal Bear Call Spread at $0.06 Credit on the rollup
SE
Bought to close 1 SE May 17 2024 45 Put at $0.01. Sold yesterday at $0.32
#Earnings were a non-event
UPST Calls
#coveredcalls
$UPST STO 5/17 32.50 calls at .62
GME
#BullPutSpreads – Thanks @OptionIceman. Paying for my lottery tickets.
Sold GME May 17 2024 25.0/23.0 Bull Put Spreads @ .24
GME Puts
Sold 1 GME May 17 2024 26/30 Bull Put Spread at $0.85 Credit
This crazy run up will probably last a few more days
GME
#LongPuts – Lottery tickets.
Bought GME Jun 21 2024 10.0 Puts at $0.22
SPCE HE LLY
#coveredcalls
#everylittlebithelps
SOLD 17 MAY 2024 3 CALL @.05
—
#rolling
Sto HE from 17 MAY 2024 to24 MAY 2024/ 12 PUT @.10
—
#onlyspreads
SOLD LLY 17 MAY 2024 725/722.5 PUT @.11
NUE Call Spread
Sold 1 NUE May 17 2024 185/180 Bear Call Spread at $0.28 Credit
ULTY YMAG YMAX
#smallbuy
#dividends
#exdivtomorrow
BOT ULTY @16.25
BOT YMAG @20.30
BOT YMAX @20.46
META SBUX AMC TZA Puts
Sold 1 META May 17 2024 437.5/442.5 Bull Put Spread at $0.27 Credit
Sold 1 SBUX May 24 2024/May 17 2024 69/74 Diagonal Bull Put Spread at $0.14 Credit
Sold 1 TZA May 17 2024 16.0 Put at $0.11
Sold 1 AMC May 17 2024 3.0 Put at $0.06
TLT
#CoveredCalls – Haven’t posted much on these but still plugging along. They were ITM for awhile but back in play now. Doubling the divvy.
Sold TLT Jun 21 2024 94.0 Calls @ .45
SPX 0-dte trades 5/14/24
#SPX0dte Sold to Open $SPX May 13th 5145/5165-5265/5285 condors for 1.15, IV 20.62%, deltas -.06 +.06
I decided to hold second half of long May 13th 5260/5280 call spreads through the PPI report. That cost me as we dropped. It’s 5 points below by condor so I will try to sell at an early peak.
SPY Expiration
1 SPY 05/13/2024 513/517 Bull Put Spread – sold Friday at $0.34
TQQQ,
STO June 28, 46 puts at .56 cents.
VIX Index Options
Sold 1 VIX May 22 2024 20/15.5 Bear Call Spread at $0.20 Credit
Sold 1 VIX May 22 2024 12.5 Put at $0.09
Small Puts
Sold 1 WMT May 17 2024 55 Put at $0.06
Sold 1 GME May 17 2024 12 Put at $0.08
Sold 1 URA May 17 2024 29.5 Put at $0.10
Sold 1 SONY May 17 2024 65 Put at $0.15
Sold 1 SE May 17 2024 45 Put at $0.32
#EveryLittleBitHelps
SPY Puts
Extending my Put Ladder
Sold 1 SPY May 17 2024 506/511 Bull Put Spread at $0.35 Credit
Sold 1 SPY May 16 2024 507/512 Bull Put Spread at $0.37 Credit
Sold 1 SPY May 15 2024 508/513 Bull Put Spread at $0.39 Credit
NVDA F
STO NVDA 17 MAY 2024 825/820 PUT @.25
—
#coveredcalls
STO F 17 MAY 2024 12.5 CALL @.13
BOIL CFG CVS FIS GILD VFC VXX WBA
Sold 1 BOIL May 17 2024 17 Covered Call at $0.15
Sold 1 CVS May 17 2024 61.0 Covered Call at $0.08
Sold 1 VFC May 17 2024 13.5 Covered Call at $0.05
Sold 1 WBA May 17 2024 19.0 Covered Call at $0.04
Sold VXX May 17 2024 13.0 Covered Calls at $0.09
Sold 1 GILD May 24 2024 17 Covered Call at $0.18
Sold tiny bits of some old #FallingKnife stocks at 52 week highs:
Sold CFG at $36.38
Sold FIS at $75.71 and $76.05
SPX 0-dte trades 5/13/24
#SPX0dte Sold to Open $SPX May 13th 5200/5230-5235/5265 condors for 12.40, IV 14.29%.
Earnings Week of May 13th
BMY after hours
Despite closing at 44.94, I got a tiny fill on BMY at $43.00 after hours.
OptionsExpiration
Another active #Earnings driven week, That’s about done for this quarter.
Spreads:
AKAM 78/83 Bull Put Spread
CAVA 66/71/81/85 Iron Condor
CMG 3120/3140 Bull Put Spread
DIS 98/103 Bull Put Spread
HIMS 19.5/15.5 Bear Call Spread
HIMS 19/15 Bear Call Spread
HIMS 18.5/14.5 Bear Call Spread
NUE 167.5/172.5 Bull Put Spreads
NUE 175 Diagonal Call
PLTR 16/20/29/33 Iron Condor
SBUX 70/71 Bull Put Spread
SBUX 71 Diagonal Put
SHOP 53/57 Bull Put Spread
SHOP 52/56 Bull Put Spread
UPS 160/148 Bear Call Spreads
UPS 144 Diagonal Put
VXX 18/13 Bear Call Spread
VXX 22/16 Bear Call Spreads
WYNN 86/91 Bull Put Spread
Covered Calls:
BOIL 16.5 Call
CVS 59 Call
CVS 60 Call
GILD 69 Call
SBUX 80 Call
VXX 13 Calls
Assignments:
CLF 19.5 Put
SPY Expiration
1 SPY 05/10/2024 516/519 Bull Put Spread – sold today at $0.30
MARA Put Roll
#shortputs
$MARA BTC 5/10 19 put and STO 5/17 18.50 put at added credit of .05 and .50 less if assigned next week.
NVO Call Roll
#coveredcalls
$NVO BTC 5/10 127 call and STO 5/17 128 call at cost of .20. Misread my screen. Thought this was a credit. Do not like to roll at a debit. Note to self. Go to ophthalmologist.
USOY
BOT USOY @20.04
CLF Put
Bought to close 1 CLF May 10 2024 17.5 Put at $0.01. Sold on a roll last week at $0.67
Economic Calendar 5/13 – 5/17
Starting with this post, I am including only the U.S. items and only “2-bull” and “3-bull” items (ignoring minor items that are rated 1-bull). This is because in recent weeks there have been several 2-bull entries that have caused sharp intraday moves. However, even 3-bull entries for other countries fail to have significant effect. So for the purposes of intraday trading decisions, I hope this is the best use of the Bloomberg website’s calendar. You can find the calendar and make your own filters here: Bloomberg Economic Calendar
Also, you can always find this post quickly by clicking on “Economic Calendar” in the menu at top of this site.
SBUX F
Starting a new SPY Put Ladder
Sold 1 SPY 05/10/2024 516/519 Bull Put Spread at $0.30 Credit
Sold 1 SPY 05/13/2024 513/517 Bull Put Spread at $0.34 Credit
Sold 1 SPY 05/14/2024 510/515 Bull Put Spread at $0.32 Credit (paired with the calls sold yesterday)
SPX 0-dte trades 5/10/24
#SPX0dte Sold to Open $SPX May 10th 5180/5200-5265/5285 condors for 1.35, IV 15.65%, deltas -.11, +.07
This is much more aggressive than usual. My thinking is we are pretty stretched to upside and that we’ll go higher but not THIS much past all-time highs today. But if we do, my long 5160/5180 call spread for May 14th will be making up for any stop loss for today. As for downside, I don’t see a dip happening today.
I will likely take profits on HALF of the long spread today, currently +4.50 in black. Sure enough, the May 10th spread that I took 1.10 in profit on yesterday is over 4.00 this morning.
Options Bistro 