OSTK

#ShortStrangles – Moving the earnings date didn’t do me any favors. Rolling put side of the strangles out and down for a credit and concentrating on selling the call side against it now.

Rolled OSTK OCT 30 2020 70.0 Puts to NOV 20 2020 65.0 Puts @ .90 credit (4.20 total now)
Sold OSTK OCT 23 2020 73.0 Calls @ .60

NVDA

#ShortStrangles – Been selling calls against next week’s short put. This week looks safe so selling next week early. Rolling put up for additional premium as well. Earnings still a few weeks away.

Sold NVDA OCT 30 2020 600.0 Call @ 1.55
Rolled NVDA OCT 30 2020 510.0 Put to OCT 30 2020 525.0 Put @ 2.47 credit

Overall position is now Oct 30th 525/600 @ 10.75

TSLA Earnings

#ShortPuts #ShortStrangles – No idea about this one but it feels risky. 🙂 🙂

Sold TSLA OCT 23 2020 392.5/500.0 Strangle @ 5.35

Going out an extra week on this one…

Sold TSLA OCT 30 2020 375.0 Put @ 4.35

NFLX Earnings

#ShortPuts #ShortStrangles #OneNightStand – Booking earnings trades and adding a small post earnings position…

Bought to Close NFLX OCT 23 2020 475.0 Put @ .60 (sold for 4.05)
Bought to Close NFLX OCT 23 2020 480.0/600.0 Strangle @ 1.40 (sold for 6.32)

Sold NFLX OCT 30 2020 460.0/560.0 Strangle @ 3.30

NFLX Earnings

#ShortStrangles – In a different account….fairly aggressive.

Sold NFLX OCT 23 2020 480.0/600.0 Strangle @ 6.32

LABU

#ShortPuts – Starter position. First trade beyond the election..

Sold LABU NOV 20 2020 40.0 Put @ 1.55

OSTK

#ShortPuts – Reducing size slightly…

Bought to Close OSTK OCT 23 2020 70.0 Put @ 1.20 (sold for 2.20)
Bought to Close OSTK OCT 23 2020 67.5 Put @ .65 (sold for 1.60)

NFLX Earnings

#ShortPuts – You can do better now. Selling below all the major moving averages and at recent lows and just outside the expected move.

Sold NFLX OCT 23 2020 475.0 Put @ 4.05

OSTK

#ShortPuts #ShortStrangles – Pulled a “WYNN” on me. Moved their earnings up a week so outstanding positions for next week jumped in value. You never know until it’s actually confirmed. Earnings last two years were in first or second week of Nov. Not this time…I’m guessing they wanted to avoid possible election fallout.

TQQQ

#ShortStrangles – Sold TQQQ OCT 30 2020 120.0/170.0 Strangle @ 3.75

NVDA

#ShortCalls – Selling against an Oct 30th 510 short put…

Sold NVDA OCT 23 2020 590.0 Call @ 1.82 (6.77 total in the strangle now)

TDOC

#ShortPuts – Adding. Week before earnings..

Sold TDOC OCT 23 2020 212.5 Put @ 2.45

ISRG Earnings

#IronButterfly #Earnings – Didn’t post this yesterday since it seemed like such a ridiculous trade…LOL Got lucky for once. Taking the gain now. Risk was 30 to make 470.

Bought to Close ISRG OCT 16 2020 745/750/750/755 Iron Butterfly @ 3.05 (sold for 4.70)

TSLA

#ShorPuts – Stopped out on the drop. Was keeping it on a tight leash since it was a one day scalp. Didn’t want any positions in it leading into earnings. Looking at selling again next week.

Bought to Close TSLA OCT 16 2020 437.0 Put @ .75 (sold for 2.00)

EWZ

#ShortPuts – Taking well over half a couple weeks early…

Bought to Close EWZ OCT 30 2020 27.0 Puts @ .22 (sold for .62)

TSLA

#ShortPuts – Filled on an earlier bounce…

Bought to Close TSLA OCT 16 2020 425.0 Put @ .55 (sold for 8.20)

TQQQ

#ShortPuts – Adding at lower strikes…

Sold TQQQ OCT 30 2020 110.0 Put @ 1.55

TSLA

#ShortPuts – Sold TSLA OCT 16 2020 437.0 Put @ 2.00

NVDA

#ShortPuts – Give Mr. Market another chance here…

Sold NVDA OCT 23 2020 530.0 Put @ 3.40

NVDA

#ShortPuts – Looking for a new entry now…

Bought to Close NVDA OCT 16 2020 525.0 Put @ .31 (sold for 6.65)

NFLX

#ShortPuts – Clearing out another one…

Bought to Close NFLX OCT 16 2020 490.0 Put @ .12 (sold for 2.35)

NVDA

#ShortPuts – Stock down so rolling up to the 50ma for additional credit. Still outside the expected move and before earnings…

Rolled NVDA OCT 30 2020 485.0 Put to OCT 30 2020 510.0 Put @ 1.65 credit (4.95 total now)

TDOC

#ShortPuts – Jumping back in selling the 50ma for next week and prior to earnings…

Sold TDOC OCT 23 2020 212.5 Put @ 2.18

NFLX OSTK

#ShortPuts #ShortStrangles – A couple this morning…

Bought to Close NFLX OCT 16 2020 480.0 Put @ .10 (sold for 3.20)

Sold OSTK OCT 30 2020 70.0/115.0 Strangles @ 3.30

AAPL

#ShortPuts – Trying for a quickie the week before earnings and below the 50ma…

Sold AAPL OCT 23 2020 115.0 Put @ 1.30

TDOC

#ShortPuts – Nice bounce today…

Bought to Close TDOC OCT 23 2020 187.5 Put @ .20 (sold for 2.50)

TQQQ

#ShortPuts – Starter position down below the 20, 50, and 100 day.

Sold TQQQ OCT 30 2020 115.0 Put @ 2.00

OLED

#JadeLizards – Just for something to do. Selling the week before earnings and playing for a pullback over the next week. No upside risk…

Sold OLED OCT 23 2020 187.5/197.5/200.0 Jade Lizard @ 2.55

TSLA

#ShortStrangles – Not fighting the upside on these. Stopped out of call side at nearly even and rolling up the put side to the expected move. See if we can talk this thing down a little going into earnings next week.

Bought to Close TSLA OCT 16 2020 480.0 Call @ 2.86 ( sold for 2.73)
Rolled TSLA OCT 16 2020 400.0 Put to OCT 16 2020 425.0 Put @ 2.45 credit (8.20 total now)

OSTK

#ShortPuts – Selling the high election IV and a couple weeks prior to earnings…

Sold OSTK OCT 30 2020 67.5 Put @ 2.80
Sold OSTK OCT 30 2020 65.0 Put @ 2.20
Sold OSTK OCT 30 2020 62.5 Put @ 1.70

TSLA

#ShortStrangles – Rolling up put side for additional credit…

Rolled TSLA OCT 16 2020 375.0 Put to OCT 16 2020 400.0 Put @ 2.00 credit

Now sitting at 400/480 @ 8.60

NVDA

#ShortPuts – Hard to find anything down today. Throwing this out there prior to the election and below the 50ma and well outside the expected move…

Sold NVDA OCT 30 2020 485.0 Put @ 3.30

UVXY

#CoveredCalls – With earnings coming I think the buying power can be put to use in better ways. Taking the small loss on the covered stock. Sold stock pre-market at 17.75 (basis 18.90) and looking to close the short 18 calls for a penny or two.

EWZ

#ShortPuts – Sold EWZ Oct 30 2020 27.0 Puts @ .62

NFLX

#ShortPuts – Week before earnings…

Sold NFLX OCT 16 2020 490.0 Put @ 2.35

OSTK

#ShortPuts – Out with the old and in with the new…

Bought to Close OSTK OCT 9 2020 70.0 Puts @ .05 (sold for 1.60)

Sold OSTK OCT 23 2020 70.0 Put @ 2.20
Sold OSTK OCT 23 2020 67.5 Put @ 1.60

TLT

Back on my radar. First target would be about a 140 put sale if they ever get enough premium. Looks to be falling out of a squeeze with some more days of down possible.

TQQQ

#ShortPuts #OneNightStand – Taking these for a quick one day profit. Thanks for the tweet yesterday President Trump!

Bought to Close TQQQ OCT 16 2020 110.0 Put @ .88 (sold for 2.45)
Bought to Close TQQQ OCT 23 2020 100.0 Put @ 1.18 (sold for 2.20)

NVDA

#ShortPuts – Let’s try to stir something up here. Aggressive roll up for additional premium. New sale just above the 50ma and at the expected move as well as a few weeks before earnings.

Rolled NVDA OCT 16 2020 480.0 Put to Oct 16 2020 525.0 Put @ 3.15 credit (6.65 total now)

NFLX TSLA

#ShortPuts #ShortCalls – A few more fills…

NFLX: Tired of fighting this to the upside. Stock caught another ridiculous upgrade today. Small loss (.40) on calls and booking and holding short puts.

Bought to Close NFLX OCT 9 2020 475 Put @ .15 (sold for 3.15)
Bought to Close NFLX OCT 9 2020 570.0 Call @ .74 (sold against 492.5 puts @ 2.10)
Bought to Close NFLX OCT 16 2020 580.0 Call @ 3.65 (sold for 1.83)

Still holding 492.5 short puts for Friday…

TSLA:
Bought to Close TSLA OCT 9 2020 375.0 Put @ .14 (sold for 3.05)

SNOW

#ShortPuts – Nice recovery in this one last few days…

Bought to Close SNOW OCT 09 2020 220.0 Put @ .14 (sold for 2.25)

TQQQ

#ShortPuts – Let’s see if this thing can implode to the 200ma…

Sold TQQQ OCT 16 2020 110.0 Put @ 2.45
Sold TQQQ OCT 23 2020 100.0 Put @ 2.20

#takeonefortheteam

EWZ

#LongCalls #LEAPS – Wasn’t expecting this kind of bounce. Looks like it’s running back up to resistance so taking the quick profit and looking for a put sale entry on a pullback.

Sold to Close 10 EWZ JAN 20 2023 27.0 Calls @ 6.45 (bought for 5.70)

Gains on short calls last week and losses on short calls this week.

Net gain overall of .45 on a 10 lot…

TSLA

#ShortStrangles – Another one the week before earnings in case rolling is needed. Selling 1.5x the expected move on the downside and 2x the expected move on the upside.

Sold TSLA OCT 16 2020 375.0/480.0 Strangle @ 6.60

NFLX

#ShortPuts – Trying to squeeze one more in before earnings…

Sold NFLX OCT 16 2020 480.0 Put @ 3.20

OSTK

#ShortPuts – Gotta book ’em on a move like this…

Bought to Close OSTK OCT 9 2020 65.0 Put @ .16 (sold for 1.60)
Bought to Close OSTK OCT 9 2020 64.0 Put @ .15 (sold for 1.35)

LABU

#ShortPuts – Another one filled. Completely out of LABU now…

Bought to Close LABU OCT 09 2020 42.5 Put @ .10 (sold for 1.35)

NFLX

#ShortStrangles – Adding a call next week to balance out this week’s 2P x 1C short strangle. Selling 2 times the expected move and above all time highs and a week prior to earnings.

Sold NFLX OCT 16 2020 580.0 Call @ 1.83

LABU NTES

#ShortPuts – A couple small profits. NTES is post split now so booking here and looking for a smaller size entry…

Bought to Close LABU OCT 09 2020 40.0 Put @ .10 (sold for 1.20)
Bought to Close NTES OCT 09 2020 87.0 Puts @ .60 (sold for .80) split adjusted

SPY 4 Month Update

Four months ago I posted a (too long) summary of a SPY mechanical put selling paper trading exercise I would consider if I had a large account. For a refresher here’s the link:

https://bit.ly/3cZuOw6

I’m still running the theory and so far so good. Even with the selloff recently nothing has gone ITM except for a very short time. For awhile I ran it as a sell around 40-45 days and roll at 15-20 days. I’m now in the process of returning to the original allocation of 1 contract per expiration for 20-22 straight expirations. I’m not trying to time anything so these results could be a little better I think. Just mechanically selling as soon as new expirations are available.

So far (allocating about 600k)

Premium received: 29,360
Total realized gain: 21,090
Avg. strike sold: 295
Avg. gain per contract closed: $324

At the current pace it’s looking like about 60k gain for a year with very few issues or stress. Unless we get another black swan covid type implosion I’m thinking this is a decent low maintenance strategy. If nothing else it is a great learning exercise for a new option trader.

spy ladder

p&l

NFLX

#ShortPuts -Going back in short term. Selling outside the expected move and below the 50 and 100 moving averages. Also 2 weeks before earnings…

Sold NFLX OCT 09 2020 475.0 Put @ 3.15

NVDA

#ShortPuts – Missed the bottom but still nice premium in these. Selling outside the expected move and below the 50ma and well before earnings…

Sold NVDA OCT 16 2020 480.0 Put @ 3.50

OSTK

#ShortPuts #CoveredCalls – Assigned stock at 85 and have reduced basis to 65.80 so letting it get called away at 70 if the market holds today. Replacing with these…

Sold OSTK OCT 9 2020 70.0 Puts @ 1.60

TSLA

#ShortPuts – Sold TSLA OCT 09 2020 375.0 Put @ 3.05

TSLA

#ShortPuts – Got half my roll up credit from this morning. Delivery numbers tomorrow so hoping for a sell the news to re-enter…

Bought to Close TSLA OCT 02 2020 410.0 Put @ .55 (sold for 3.15)

NFLX

#ShortPuts – Big rally so putting this one in the books and leaving the repair trade from previous post running…

Bought to Close NFLX OCT 16 2020 460.0 Put @ 2.21 (sold for 8.05)

NFLX

#ShortPuts #ShortCalls #RepairTrade – Can’t believe I’m having to do the same repair trade I did a couple weeks ago. What seemed like a safe call on a short strangle is getting hit again. Swapping it for a 2×1 short strangle for next week.

Bought to Close NFLX OCT 2 2020 520.0 Call @ 7.15 (sold for 1.45)
Sold NFLX OCT 9 2020 492.5 Put / 570.0 Call (2×1) @ 8.80

The 2×1 now has 3.10 of profit in it after the short call loss. New short put strike at the expected move and under the 50ma. Short call is almost 2x the expected move.

Still holding Oct 16th 460 strike short put @ 8.05

Earnings is Oct 20th which is after all this so plenty of IV out there for future adjustments…

OSTK

#ShortPuts – Bought to Close OSTK OCT 2 2020 67.5 Put @ .05 (sold for 2.20)

SNOW

#ShortPuts – First time in this one. Going short term at near the all time low. Selling the expected move since the stock is already down 8 today.

Sold SNOW OCT 09 2020 220.0 Put @ 2.25

TDOC

#ShortPuts – Looking at week prior to earnings for any new sales now. Selling outside the expected move and below 20,50, and 100 day moving averages and week prior to earnings.

Sold TDOC OCT 23 2020 187.5 Put @ 2.50

TSLA

#ShortPuts -Rolling up slightly for additional credit.

Rolled TSLA OCT 02 2020 385.0 Put to OCT 02 2020 410.0 Put @ 1.10 credit (3.15 total now)

LABU NFLX

#ShortPuts – Taking some more off the table…

Bought to Close LABU OCT 02 2020 45.0 Put @ .20 (sold for 1.32)
Bought to Close NFLX OCT 02 2020 450.0 Put @ .20 (sold for 3.60)

OSTK

#ShortPuts – Adding one…

Sold OSTK OCT 9 2020 64.0 Put @ 1.35

OSTK

#ShortPuts – Starter position in a different account…

Sold OSTK OCT 9 2020 65.0 Put @ 1.60

TSLA

#ShortPuts – Jumping back in…

Sold TSLA OCT 02 2020 385.0 Put @ 2.05

TDOC

#ShortPuts – Nice run the last few days so I’ll take it 10 days early…

Bought to Close TDOC OCT 09 2020 180.0 Put @ .35 (sold for 2.75)

TSLA

ShortPuts – Taking the quick profit…

Bought to Close TSLA OCT 02 2020 390.0 Put @ 2.50 (sold for 4.75)

SPY

#ShortPuts – Hitting resistance so taking it early…

Bought to Close SPY OCT 16 2020 295.0 Put @ .51 (sold for 2.30)

TSLA

#ShortPuts – Pretty aggressive but a couple rolls available leading into earnings…

Sold TSLA OCT 02 2020 390.0 Put @ 4.75

DOCU

#ShortPuts – Booking it on the early bounce…

Bought to Close DOCU OCT 09 2020 180.0 Put @ .30 (sold for 2.90)

TQQQ

#ShortPuts – Risk reduction on the bounce. Looking for a new pullback to re-load.

Bought to Close TQQQ OCT 02 2020 100.0 Put @ .20 (sold for 2.30)

NVDA

#ShortPuts – I’ll take it a few days early…

Bought to Close NVDA OCT 02 2020 450.0 Put @ .15 (sold for 4.33)

NFLX

#ShortStrangles – Stock caught an upgrade with a 570 target. Rolling the put sold earlier up for additional credit and adding a weekly short call.

Rolled NFLX OCT 16 2020 425.0 Put to OCT 16 2020 460.0 Put @ 4.91 credit (8.09 total now)
Sold NFLX OCT 2 2020 520.0 Call @ 1.45

EDIT: More aggressive put roll up to allow slightly more aggressive call selling for a couple weeks leading up to earnings.

EWZ

#LongCalls #LEAPS – Haven’t done one of these in awhile. Buying the LEAP calls and selling short term against them. I’ll hopefully be more disciplined with my call sales than in my past. Goal is to eventually cover the cost of the LEAPS selling half as many short term. EWZ near multi year lows (other than covid crash).

Bought to Open 10 EWZ JAN 20 2023 27.0 Calls @ 5.70
Sold 5 EWZ OCT 2 2020 29.0 Calls @ .12

Nearly every one of these I’ve ever tried would have been successful had I not got greedy with weekly sales. 🙂 🙂

NFLX

#ShortPuts – Selling down at the 200ma and 1.5 times the expected move and the week before earnings.

Sold NFLX OCT 16 2020 425.0 Put @ 3.18