BB

I didn’t know Blackberry was still a thing until my stepson alerted me about the IVR (108). STO Feb19 8/20 #shortstrangle for 1.12. The chart is entertaining. But, I hope the trade won’t be too much fun!

#boredtodeath

LAZR

Keep an eye on this one. Still 50 IVR on an IV of 136. After a ridiculous 4x plus move in Nov., it seems to be “consolidating” somewhat. Hard to call a 10% intraday move part of consolidation. But thing sure does move!

TSLA

Premium is not exactly collapsing, but it’s coming down nicely. The 5 delta #shortstrangle expiring next week still has a pretty rich premium. The 460/840 is trading at 4.60.

MRNA

Still has a high IVR. Sold next week’s 210 call for 1.75 to pair with my Jan 110 put. My Dec11 210 and 220 calls should expire worthless tomorrow.

#shortcalls

TQQQ

In an IRA STO Dec18 135 #shortputs for 1.45, 11 delta with 9 days to OpEx.

TSLA

STO Dec18 480/950 #shortstrangles for 6.85. The strikes are 6 delta with 9 days to opex. IV is expanding. TW shows the IV coming out BB squeeze.

X

Take a look at X. It’s been on a massive rally recently. But I haven’t paid attention to the chart until now. The move is too vertical as of late. IV is 79 although IVR is only 21. For example, the 20 delta Jan 15/23 mid is 1.04 with only $178 BPR for us TastyWorks acolytes. X is up another .80 pre-market, so 20 delta strikes may be different.

SNOW strangle

STO SNOW Dec11 320/475 strangle for 3.30. Had to leg into this because I wasn’t getting a decent fill in 1 order.

#shortstrangles

MRNA

#shortstrangles Legged into an MRNA strangle. STO yesterday Jan 110 put for 6. Blowoff move looks overdone. They just added new strikes for Friday’s expo . STO Dec04 230 call for 2.40

APRN

One of the few stocks that’s up right now. STO Mar20 6 put for .53

BA

STO Mar20 (3 DTE) 100 put in an IRA for 9.00 with the stock at 108. I could have waited for a couple minutes and gotten a better fill. But I chased it a bit.

DUK

An “are you kidding me” trade. STO Mar20 75 put for 1.80, immediate fill. 27 delta with 4 days to expiration, 78 IV, 110 IVR. 78 IV for a yute? AYFKM?

XLU

XLU has an IV of 51 and is yielding over 3%. A basket of utes with an IV like a tech stock? The 40 month EMA (54.08) or the middle BB on the monthly chart has been support since 2010. Adding to my existing long position. STO Apr17 57 put at 2.14.

TLT

IV is at 42, more like a tech stock. IV rank is 237. Speechless.

OXY

Crazy (?) pricing on puts. Rolled OXY Mar6 33.50 puts to Mar13 33 puts for .41 credit. Fifty cent lower strike for 5 days with the stock at 27. Keeping the dream alive another week.

DAL #shortput

STO DAL Apr17 40 put for 1.83 for an IRA. IVR is 93. If assigned at this level, the div. yield would be 4%.

VIX

The VIX is tagging the 3 standard dev. upper BB on its daily chart, which is typically where it needs to be for us to get a market bounce. Also there is an ongoing negative divergence with the 5,3,3 stochastic in 1 hour VIX chart. With this setup, most of the time the market bottom is signaled after the first indication of negative divergence. Rarely, it takes a 2nd or 3rd indication to signal a short term market bottom. Looks like we will need a 3rd wave. I hope the chart snippet of the 1 hour VIX chart will clarify my description.

Screen Shot 2020-02-27 at 7.04.24 PM

VIX to SPX Coorelation

I just noticed the coorelation has popped above the zero line for the first time since the beginning of the month-long market pullback last May.

Long BA

Two days to expiration. STO BA Jan10 320 put for 2.65.

Betting on Higher Vol.

STO VIX Jan22 13.5 Puts @ .75

#LittleRocketMan and the VIX is at the low end of its range.

AXSM

This biotech has a shockingly high IV of 290 and a 92 IVR. 😀 STO 1 Dec20 25 put (8 delta) for 1.30. The bid/ask is stupid wide.

LULU Earnings

BTC LULU Dec13 215 Put @ 1.15. Opened yesterday afternoon at 2.28

Rolling NUGT

BTC NUGT Jan 03 25.5 Puts (55% winner), STO Jan 17 25 put for .38cr

#coveredcall

VIX / SPX Correlation

The #VIX to SPX correlation is the highest it has been since we had the month-long decline in May. Today’s correlation is -.18. As a point of reference, the correlation hit the zero line a day or 2 before the onset of the May decline. Conversely, the correlation pretty much bounces between -.75 and the -1.00 floor during rallies. As with all indicators, it doesn’t have a perfect track record either. But I’m getting cautious and increasing my cash position.

TSLA

#ShortCalls Rolled Nov 15 342.50 call to Nov 22 350 call for .63 credit. This is paired with a Jan2021 180 short put. Wouldn’t mind owning TSLA down there at 180.

AVGO Earnings For an IRA,…

AVGO Earnings

For an IRA, closed Jun14 260 #shortputs for about 70% max profit and rolled to Jun21 257.50 for net credit of 2.35. This gets my basis, if assigned next week, near its recent low. IVR was still above 60 earlier in the session when I made the roll.

AAL up 6.5% on JPM…

AAL up 6.5% on JPM note

IVR is only 20 though.

Rolling BYND #ShortPuts – Jun14…

Rolling BYND #ShortPuts – Jun14 125 to Jun28 110 (bottom of the breakout level) for 1.45 credit.

BYND

I just noticed options are now trading in BYND. IV is around 106.

ROKU

Rolled ROKU May17 weekly 78 puts to May24 77 puts for .59cr. I’m leaning slightly positive delta in this position, which includes a Jun21 80/90 strangle.

Taking another stab at GE…

Taking another stab at GE #shortputs. STO May24 8.5 puts for .33, right at 30 delta.

TSLA #Shortput STO Apr18 200…

TSLA #Shortput STO Apr18 200 put for 2.56. Going long near recent support level of about 245. The 200 put is 9 delta.