BA and SNOW synthetic long and XLU synthetic short.
Bought to Close BA Sep 20 2024 157.5 Calls @ .07 (sold for 8.75)
Sold BA Sep 27 2024 155.0 Calls @ 2.47
Bought to Close SNOW Sep 20 2024 114.0 Calls @ .21 (sold for 4.65)
Sold SNOW Sep 27 2024 110.0 Calls @ 3.86
Bought to Close XLU Sep 20 2024 75.0 Puts @ .01 (sold for .26)
Sold XLU Sep 27 2024 77.5 Puts @ .28
#SyntheticShortStock – After looking things over for awhile I’m hanging on to the rest of the positions. Instead of rolling the daily put sales back in and up decided to leave them in the Oct monthly and just roll up there. Gives me few a more long deltas overall but plenty of room (half the expected move) for a drop while collecting good premium and theta.
Rolled SPX Oct 18 2024 5570.0 Puts to Oct 18 2024 5600.0 Puts @ 5.00 credit (15.00 total now)
#SyntheticShortStock – Due to the big rally today the deltas are starting to flip short. As an experiment closing my oldest position just to see what sort of fills I get in the LEAPS with the wide bid/ask. Turned out better than I expected getting filled just slightly worse than the mid.
Final numbers:
Initial trade:
Opened Dec 2027 5000/5000/5400 synthetic short at 225.00 debit
Closed Dec 2027 5000/5000/5400 synthetic short at 8.80 credit (this includes closing Oct 18th 5570 strike daily put sale)
Net loss on LEAPS of 216.20
Total premium received on daily sales of 427.15
Net gain of 210.95
Not bad with a synthetic short in a straight up market.
Selling iron fly for today at half the expected move. Risking a little of my SPY profits from earlier this week.
Sold today’s 5615/5640/5640/5665 @ 21.80
Back close to all time highs so taking the gains.
Bought to Close SPY Sep 27 2024 525.0 Put @ .53 (sold for 3.33)
Bought to Close SPY Oct 4 2024 525.0 Put @ 1.06 (sold for 3.50)
Bought to Close SPY Oct 11 2024 525.0 Put @ 1.63 (sold for 4.00)
Bought to Close SPY Oct 18 2024 490.0 Put @ .72 (sold for 3.00)
Bought to Close SPY Oct 18 2024 500.0 Put @ .95 (sold for 3.50)
Bought to Close SPY Oct 18 2024 515.0 Put @ 1.52 (sold for 3.60)
Not really interested in owning this up here so taking what I can get.
Bought to Close NVDA Sep 20 2024 105.0 Put @ .37 (sold for 1.78)
Bought to Close NVDA Sep 20 2024 110.0 Put @ 1.20 (sold for 2.65)
Bought to Close NVDA Sep 20 2024 115.0 Put @ 3.15 (sold for 3.95)
Another small one just to mess around with. Synthetic short stock with a long disaster call. Whole thing for a credit with the weekly sale against.
XLU Dec 18 2026 75/75/95 @ .05 debit.
And:
Sold XLU Sep 20 2024 75.0 Puts @ .26
Iceman gave me the idea with his VXX call spreads. Just a small one to mess around with. Synthetic short stock with a long disaster call.
VXX Jan 16 2026 55/55/85 @ 16.00 debit.
And:
Sold VXX Sep 13 2024 55.0 Put @ 2.95
Wouldn’t accept my copy/paste. I’ll try the link. Pretty much nailed the downside risk.
https://tinyurl.com/57zp9z3j
Starting to see some nice premium below the 200 day now.
Sold SPY Oct 18 2024 500.0 Put @ 3.50
Sold SPY Oct 18 2024 490.0 Put @ 3.00
And finally.
Sold SPY Sep 27 2024 525.0 Put @ 3.33
One more.
Sold SPY Oct 4 2024 525.0 Put @ 3.50
Selling near the 200 day.
Sold SPY Oct 11 2024 525.0 Put @ 4.00
Sold SPY Oct 18 2024 515.0 Put @ 3.60
Bought to Close TLT Sep 13 2024 93.5 Puts @ .09 (sold for .98)
Early assignment from an earnings iron fly lottery ticket. Goal is to get out at even now.
Rolled 114 covered call down to 110 @ 1.75 credit for this Friday. Basis 110.10 now. Close enough I’d probably let it go there.
Haven’t really mentioned it in awhile. Still have all 5 positions and short puts currently sitting at Oct monthly 5570 strike. Since they are just out of the money and nearing the sweet spot for theta the 5 positions are overall running 388 per day theta. That will decrease as we get closer to expiration.
Really no hurry to roll these in and up yet since overall they are net 92 long deltas. If the market rallies or time passes where they get to neutral or negative deltas then I might consider the roll. For now really happy with the overall setup. Bigly profitable YTD so just watching time pass for now.
Been bored so couldn’t help myself. This should be the KOD for NVDA. LOL Little early on these.
Sold NVDA Sep 20 2024 115.0 Put @ 3.95
Sold NVDA Sep 20 2024 110.0 Put @ 2.65
Sold NVDA Sep 20 2024 105.0 Put @ 1.78
Took a lottery ticket shot day of earnings. Sold 130/135/135/140 Iron Fly @ 4.55
Today woke up to SNOW stock assignment @ 135 and decided to keep it.
At 11:30 central sold the long put for 15.15 and then sold next week’s 114 call @ 3.45.
Total premium recived of 23.15 giving a basis of 111.85 with stock covered at 114. Let’s see if it’s nearing a bottom.
Rolling covered calls and selling more calls against synthetic stock. Still short 93.5 strike puts in same expiration. Keeping everything in the week before the Fed meeting.
Rolled TLT Aug 21 2024 97.0 Calls to Sep 13 2024 97.0 Calls @ .95 credit (1.65 total now)
Sold TLT Sep 13 2024 100.0 Calls @ .71
Covered calls rolled out a few more days for more “divvys”. First time in a Wed expiration.
Rolled TLT Aug 16 2024 97.0 Calls to Aug 21 2024 97.0 Calls @ .28 credit (.71 total now)
Sold against synthetic stock. Small positions. SNOW was rolled into earnings week.
Rolled BA Aug 16 2024 170.0 Calls to Sep 20 2024 175.0 Calls @ .75 credit (3.55 total now)
Rolled SNOW Aug 16 2024 120.0 Calls to Aug 23 2024 128.0 Calls @ .10 credit (3.60 total now)
These were yesterday….a day too soon. LOL Recovering from my trip so not doing too much.
Bought to Close NVDA AUG 16 2024 100.0 Put @ .09 (sold for 2.40)
Bought to Close NVDA AUG 16 2024 110.0 Put @ .78 (sold for 2.50)
Bought to Close NVDA AUG 16 2024 115.0 Puts @ 2.47 (sold for 2.60)
Bought to Close SPY SEP 20 2024 490.0 Put @ 1.38 (sold for 3.30)
Bought to Close SPY SEP 20 2024 505.0 Put @ 2.27 (sold for 3.30)
Selling the week before the Fed meeting then maybe be able to do it again during FED week with the elevated IV. I’ll do the same thing with a bunch of covered calls if my current ones expire next week.
Sold TLT Sep 13 2024 93.5 Puts @ .98 (thanks Fidelity for the penny price improvement!)
Also at the open took another one off for small gain in case this is a DCB.
Bought to Close SPY Sep 20 2024 470.0 Put @ 2.37 (sold for 3.00)
Also right at the open sold against synthetic stock. Small positions.
Sold BA Aug 16 2024 170.0 Calls @ 2.80
Sold SNOW Aug 16 2024 120.0 Calls @ 3.50
Learned something very interesting this week about rolling these. With a VIX curve like this the increased short term volatility outweighs the time added so it’s very tough to roll for a credit. With Sep vol much lower went out to Oct to get more even vol and was able to roll down a few strikes. Luckily, this isn’t the norm. Crazy stuff going on and election coming up things might calm down after that and get back into a contango situation.
An increasing VIX without going to backwardation still seems to be great for rolling vs a short term shock to the market with near term super spikes in vol. I am considering only selling put spreads from now on when the market is at nose bleeds. Had that been the case here I would have booked the losses on the spreads and possibly closed the LEAP shorts for bigly gains.
Right at the open:
Rolled SPX Aug 16 2024 5585.0 Puts to Oct 18 2024 5570.0 Puts @ .25 credit (10.05 total now)
Taking these in a day.
Bought to Close SPY Sep 20 2024 400.0 Put @ 1.28 (sold for 4.00)
Bought to Close SPY Sep 20 2024 425.0 Put @ 1.97 (sold for 5.00)
And a tiny winner to thin the herd.
Bought to Close SPY Sep 20 2024 450.0 Put @ 2.85 (sold for 3.00)
Not as good as opening prices but I’d still be very happy with these on a more normal type of drop.
Sold SPY Sep 20 2024 400.0 Put @ 4.00
Sold SPY Sep 20 2024 425.0 Put @ 5.00
Out in the middle of South Dakota and Spectrum has capped my speeds due to data usage this week. I can barely get on any platform. Missed the opening prices for SPY put sales. Thanks Spectrum!
I did mange to close these. Bought as protection months ago before the big rally and I had kinda written them off as worthless. I’ll take it!
Sold to Close SPX Dec 19 2025 1000.0 Put @ 4.50 (bought for 4.10)
Sold to Close SPX Dec 19 2026 1000.0 Put @ 5.00 (bought for 5.55)
SPY: Another add.
Sold SPY Sep 20 2024 450.0 Put @ 3.00
VIX: I was a little too far out in time to really get the big pop. I’ll take the 34 percent though.
Sold to Close VIX Dec 18 2024 20/30 Bull Call Spreads @ 1.60 (bought for 1.06)
Another add.
Sold SPY Sep 20 2024 470.0 Put @ 3.00
SPY: One add down below the 200 day.
Sold SPY Sep 20 2024 490.0 Put @ 3.30
TLT: Done with put sales until it comes back down a little.
Bought to Close TLT AUG 02 2024 93.0 Puts @ .01 (sold for 1.44)
A couple late fills.
Sold NVDA Aug 16 2024 100.0 Put @ 2.40
Sold SPY Sep 20 2024 505.0 Put @ 3.30
Taking almost half on the bounce.
Bought to Close SPY Sep 20 2024 500.0 Put @ 1.67 (sold for 3.00)
Was busy Thur and Fri (and Sat)…out on the road. Sturgis baby! Still got my Fri expiration stuff done.
BA: Synthetic stock (earnings next week)
Rolled BA JUL 26 2024 182.5 Calls to AUG 02 2024 185.0 Calls @ 1.00 credit (1.90 total now)
SNOW: Synthetic stock
Bought to Close SNOW JUL 26 2024 133.0 Calls @ .03 (sold for 2.10)
Sold SNOW AUG 02 2024 132.0 Calls @ 2.75
TLT: Could have closed for a couple cents and then sold again but was in a hurry so did the roll.
Rolled TLT JUL 26 2024 93.0 Puts to AUG 02 2024 93.0 Puts @ .83 credit (1.44 total now)
Can’t resist. Selling outside the expected move and down at the 200 day.
Sold SPY Sep 20 2024 500.0 Put @ 3.00
Let’s try to triple the divvy in a week. LOL
Sold TLT Jul 26 2024 93.0 Puts @ .61
A much needed reset lower. Wouldn’t mind doing this next month too. Still have all my premium while reducing losses on the LEAPS. At some point (hopefully lower) the market will come back and take out my short put daily sales. A big rally I’ll roll back in and up (which is what happened last time).
Rolled SPX Jul 19 2024 5620.0 Puts to Aug 16 2024 5585.0 Puts @ .50 credit (9.85 total now)
Rolling on the early bounce just in case it doesn’t last.
Rolled SPX Jul 18 2024 5625.0 Puts to Jul 19 2024 5620.0 Puts @ 2.00 credit (9.35 total now)
I’ll give it another day before rolling further out.
Rolled SPX Jul 17 2024 5630.0 Puts to Jul 18 2024 5625.0 Puts @ .50 credit (7.35 total now)
Adding one.
Sold NVDA Aug 16 2024 110.0 Put @ 2.50
Another round. Selling tomorrow at half the expected move. Not much in the way of data tomorrow but unemployment on Thur.
Existing positions after a few credit rolls:
Bought to Close SPX Jul 16 2024 5620.0 Puts @ .60 (sold for 45.25)
New position sold yesterday:
Bought to Close SPX Jul 16 2024 5620.0 Put @ .60 (sold for 7.50)
And:
Sold SPX Jul 17 2024 5630.0 Puts @ 6.85
Changed my mind already. Big run today I’ll reload the covered calls out in Aug. Wouldn’t mind these taking some heat. Might be an issue with a surprise July cut but I’m betting not.
Sold TLT Aug 16 2024 97.0 Calls @ .43
Getting the stock uncovered and taking the gains on the short puts. Reload puts on a pullback possibly.
Bought to Close TLT Jul 19 2024 93.5 Puts @ .29 (sold for 2.10)
Bought to Close TLT Jul 19 2024 94.0 Calls @ .40 (sold for .56)
Added another synthetic short to hopefully take advantge of all the craziness over the next few months. When the Dec 2030s come out in Sep I may look at closing my oldest one.
Couldn’t add at the money due to a conflict in strikes with an earlier position. Went slightly in the money for less out of pocket but slightly higher margin.
Added Dec 2029 5500/5500/5900 @ 308.50 debit
Sold SPX Jul 16 2024 5620.0 Put @ 7.50
Straight roll…my favorite kind.
Rolled SPX Jul 15 2024 5620.0 Puts to Jul 16 2024 5620.0 Puts @ 5.25 credit (45.25 total now)
Update to SPX experiment. Here’s the original setups with date entered and cost to enter. All of these costs have already been recovered with daily sale premium. The first position is in one account and the other three are in a different account. I’m tracking those three as a combined P/L.
1. Feb 7th 5000/5000/5400 @ 225.0 debit (Dec 2027 expiration)
2. Feb 7th 5000/5000/5400 @ 283.0 debit (Dec 2028 expiration)
3. Mar 7th 5200/5200/5600 @ 360.0 debit (Dec 2029 expiration)
4. Jun 5th 5400/5400/5800 @ 202.0 debit (Dec 2027 expiration)
==============================================================
Position 1:
Cost to enter: 22500 debit
Cost to close: 3540 credit (if closed now)
Loss on LEAPS: 18960
Premium received: 41285
Gain overall: 22325
==============================================================
Positions 2,3,and 4 combined:
Cost to enter: 84500 debit
Cost to close: 47310 credit (if closed now)
Loss on LEAPS: 37190
Premium received: 86765
Gain overall: 49575
==============================================================
So if looking at it like a business:
Total Revenue: 128050
Total Costs: 56150
Net Gain: 71900
Average of 56 cents per dollar going to profit. Nice improvemnt on that last few weeks.
EDIT: Note: If these positions were all in an IRA type of account requiring full margin the current buying power hit would be 348000. That’s based on 40000 per LEAP bear call spread plus the current 5620 puts being sold against various long LEAP put positions.
Using the bounce to get a decent roll to Monday.
Rolled SPX Jul 12 2024 5625.0 Puts to Jul 15 2024 5620.0 Puts @ 2.50 credit (40.00 total now)
Jumping back in with a starter position the week before earnings.
Sold NVDA Aug 16 2024 115.0 Puts @ 2.60
This should finally do it. LOL Roll up to half of tomorrow’s expected move. (horrible timing)
Rolled SPX Jul 11 2024 5600.0 Puts to Jul 12 2024 5625.0 Puts @ 8.00 credit (37.50 total now)
Trying to squeeze a little more out of these. Holding 94 strike covered calls also.
Rolled TLT Jul 19 2024 92.5 Puts to Jul 19 2024 93.5 Puts @ .30 credit (2.10 total now)
This should put a top on the ridiculousness. LOL
Rolled SPX Jul 10 2024 5565.0 Puts to Jul 11 2024 5600.0 Puts @ 20.00 credit (29.50 total now)
Pretty weak premium first half of the week. Thur and Fri get much better.
Rolled SPX Jul 09 2024 5560.0 Puts to Jul 10 2024 5565.0 Puts @ 4.10 credit (9.50 total now)
Taking the gains on the early bounce.
Bought to Close XBI Jul 19 2024 87.0 Puts @ .19 (sold for 1.40)
Bought to Close XBI Jul 19 2024 88.0 Puts @ .29 (sold for 1.35)
Taking the gains on the early bounce.
Bought to Close NVDA Jul 19 2024 115.0 Put @ .43 (sold for 2.59)
Bought to Close NVDA Aug 16 2024 105.0 Puts @ .85 (sold for 2.00 and 3.45)
Bought to Close NVDA Aug 16 2024 110.0 Put @ 1.42 (sold for 2.70)
Early on this but nice to see a little weakness.
Bought to Close SPX Jul 08 2024 5520.0 Puts @ .30 (sold for 7.00)
Sold SPX Jul 09 2024 5560.0 Puts @ 5.40
I’ve got some 94 strike covered calls so rolling up short puts in case we keep going.
Rolled TLT Jul 19 2024 91.0 Puts to Jul 19 2024 92.5 Puts @ .50 credit (1.80 total now)
Getting kinda scary up here. Crazy.
Bought to Close SPX Jul 05 2024 5485.0 Puts @ .50 (Sold for 22.90)
Sold SPX Jul 08 2024 5520.0 Puts @ 7.00
This should make Friday a little more exciting.
Rolled SPX Jul 05 2024 5460.0 Puts to Jul 05 2024 5485.0 Puts @ 2.50 credit (22.90 total now)
Early roll since it feels a little weak. Going out to Friday and down a couple strikes for nice credit. (cue up the rally! LOL)
Rolled SPX Jul 02 2024 5470.0 Puts to Jul 05 2024 5460.0 Puts @ 4.75 credit (20.40 total now)
Adding a little.
Sold TLT Jul 19 2024 91.0 Puts @ 1.30
Early roll today. Be out most of the afternoon.
Rolled SPX Jul 01 2024 5475.0 Puts to Jul 02 2024 5470.0 Puts @ 1.75 credit (15.65 total now)
Lottery ticket for a possible sh*t show between election day and inauguration day.
Bought VIX Dec 18 2024 20/30 Bull Call Spreads @ 1.06
Roll to Monday and up to just inside the expected move.
Rolled SPX Jun 28 2024 5465.0 Puts to Jul 01 2024 5475.0 Puts @ 5.25 credit (13.90 total now)
One add.
Sold NVDA Aug 16 2024 105.0 Put @ 2.00
I may regret this this but with weak premium next week staying aggressive tomorrow with the extra juice available.
Bought to Close SPX Jun 27 2024 5455.0 Puts @ .65 (sold for 34.10)
Sold SPX Jun 28 2024 5465.0 Puts @ 8.65
Not much happening today. Straight roll to tomorrow.
Rolled SPX Jun 26 2024 5455.0 Puts to Jun 27 2024 5455.0 Puts @ 6.00 credit (34.10 total now)
Feels like it wants to drift lower. Rolling early on the little bounce. Out a day and down another strike.
Rolled SPX Jun 25 2024 5460.0 Puts to Jun 26 2024 5455.0 Puts @ 3.40 credit (28.10 total now)
One add.
Sold NVDA Aug 16 2024 105.0 Put @ 3.45
Held out as long as I could for the theta. Roll out a day and down a strike now. Love a flat day!
Rolled SPX Jun 24 2024 5465.0 Puts to Jun 25 2024 5460.0 Puts @ 5.75 credit (24.70 total now)
Out to Monday and down a strike.
Rolled SPX Jun 21 2024 5470.0 Puts to Jun 24 2024 5465.0 Puts @ 4.25 credit (18.95 total now)
One more a little closer in. Plenty of rolling time before earnings.
Sold NVDA Jul 19 2024 115.0 Put @ 2.59
Doubling up the divvy again.
Bought to Close TLT Jun 21 2024 94.0 Calls @ .03 (sold for .45)
Sold TLT Jul 19 2024 97.0 Calls @ .42
Sold TLT Jul 19 2024 98.0 Calls @ .29
Could’ve done a lot better earlier but missed it. Just a little starter at the expected move the week before earnings.
Sold NVDA Aug 16 2024 110.0 Put @ 2.70
Rolling to just inside the expected move. C’mon Mr. Market take a run at it.
Rolled SPX Jun 20 2024 5460.0 Puts to Jun 21 2024 5470.0 Puts @ 5.50 credit (14.70 total now)
Options Bistro 