Bought to close 1 TSLA 05/06/2026 360/370 Bull Put Spread at $0.00
Bought to close 1 TSLA 05/06/2026 357.5/367.5 Bull Put Spread at $0.00 (yep, those are the right prices)
Sold 1 TSLA 05/11/2026 365/375 Bull Put Spread at $0.42 Credit
Daily Archives: Wednesday, May 6, 2026
DJIA
How long ago did some market commentator predict that the DJIA average would reach 50,000.
Well it finally happened today 🙂
XSP rolls 5/6/26
#FuzzyLEAPs No relief, gotta keep rolling up. I have noticed my account values have not moved up for two months now. This is in contrast to the first 4 months of this strategy, which saw steady profits. So what happened? The war correction, obviously, but what about my management of the trades stopped the profits? I was able to roll almost every day for a CREDIT the whole time, so I’m betting it was the roll DOWNs of both LEAP spreads and daily puts. It deprived me of some the profit I should have reaped when the recovery happened. I need to examine what happened and come up with a better approach for next time. Any feedback is also welcome.
Rolled $XSP May 6th 725 puts to May 7th 725 puts, .16 credit
Rolled UP May 6th 720 puts to May 7th 732 puts, .74 credit
Also rolled up 685 LEAPs to 730. My LEAPs are now at 710, 720, and 730.
SPX
A dip! 🙂 🙂
Bought to Close SPX May 06 2026 7225.0 Puts @ .25 (sold for 9.35)
Bought to Close SPX May 06 2026 7250.0 Puts @ .35 (sold for 15.60)
Bought to Close SPX May 06 2026 7275.0 Puts @ .70 (sold for 51.00)
Sold SPX May 07 2026 7275.0 Puts @ 5.75
Sold SPX May 07 2026 7300.0 Puts @ 9.45
And:
Rolled Dec 2030 7200.0 Puts to Dec 2030 7300.0 Puts @ 27.00 debit
Note:
This is some of the lowest premium I’ve received in quite awhile. Still, based on today’s numbers I could roll up every 4 days just on premium received without dipping into standby cash. Something else to keep in mind….factor in the cash you’re still receiving every day in times like this to help with rolls.
SPX Leaps
I am curios if you have a plan for dealing with the roll up of the LEAPs.
Apparently SPX is going to 7800 and it would be easy to run out of cash for the rolls. 🙂
TSLA UVXY
Sold 1 TSLA 05/08/2026 350/362.5 Bull Put Spread at $0.36 Credit
Bought 1 TSLA 05/11/2026 417.5 Call and Sold 1 TSLA 05/08/2026 410.0 Call at $0.43 Diagonal Credit
Bought 1 UVXY 05/15/2026 30.0 Put and Sold 1 UVXY 05/08/2026 34.5 Put at $0.14 Diagonal Credit
CE Calls rolled down
Bought to close CE 05/15/2026 80.0 Covered Calls at $0.05. Originally sold for $1.21 on 04/13
Replaced them with CE 05/15/2026 70.0 Covered Calls at $0.55
#DoubleDip
SPX
#fuzzyleaps
Morning trade:
Rolled SPX Dec 20 2030 7200 LEAPs up to 7300 strike @ 27.00 debit.
STO SPX May 7 2026 7275 Put @ 10.40.
Clearly the market can be…
Clearly the market can be irrational for much longer than anyone ever thinks………
More adjustments and I will still make money but it takes longer to get paid with adjustments.
Would not recommend shorting the market here, but at some point the snap in the other direction could be violent, be prepared.
Options Bistro 