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)
Just looking at my oldest position (one spread). Dec 2027 5000/5000/5400. Set the position back on Feb 7th when the market was around 5000. Since then we’ve rallied 10 percent. There was about a month in there where I collected zero premium and had to roll the short put sales down while we were selling off a little. That can be expected. It is nice to see that decent money can be made even when the market is going big against your synthetic short LEAPS.
Here’s the actual numbers:
Cost to open the position: 22500 debit
Cost to close the position: 5400 credit
Loss on LEAPS: 17100
Total daily premium received: 32000
Net gain if closed everything today: 14900
That works out to about 46 cents on the dollar going to profit.
My thoughts: In a flatter market these would make really really good money. Been pretty much straight up the whole time but pretty easy to keep up with the lossses on the LEAPS. Already over halfway to covering max loss and the trade still has 182 weeks to run (130 weeks if I close it a year early).
Decision to make:
1. Do I close now and reset the LEAPS higher to reduce the risk and margin in the daily sales?
I say not yet since a selloff can still help the LEAPS and plenty of time to roll down the daily sales and margin requirements are still not terrible. I can’t confirm but it feels like the higher we go the less short deltas the LEAPS have. It feels like the losses are bigger as the LEAPS initially get out of the money and get closer to max loss. Pretty easy to sell the daily to flatten the delta on the overall position now with the LEAP deltas only being short 26 where they were initially around 50 at the beginning of the trade.
Gonna continue and see how things play out. So far so good.
#fuzzyspxexperiment (so I can find this post in a search LOL)
EDITED: Changed last paragraph from “in the money” to “out of the money”
This might cool things off a little…selling half the expected move.
Bought to Close SPX Jun 17 2024 5400.0 Puts @ .20 (sold for 12.55)
Sold SPX Jun 20 2024 5460.0 Puts @ 9.20
Gonna be on the road rest of the day so rolling early on the first little dip.
Rolled SPX Jun 17 2024 5400.0 Puts to Jun 18 2024 5405.0 Puts @ 6.00 credit (12.55 total now)
Another round. Nice end to a record week…53.10 in premium. Thank you Fed! (technically 7 trading days going back to last Thursday)
Bought to Close SPX Jun 14 2024 5395.0 Puts @ 1.05 (sold for 15.90)
Sold SPX Jun 17 2024 5400.0 Puts @ 6.55
Adding.
Sold XBI Jul 19 2024 88.0 Puts @ 1.30 and 1.40
A little early on these today.
Rolled SPX Jun 13 2024 5390.0 Puts to Jun 14 2024 5395.0 Puts @ 4.00 credit ( 15.90 total now)
Moving up into the gap and just below the big even number. Doing this early today to get the higher premium still priced into tomorrow for JP today. More data tomorrow too. Come and get it Mr. Market!
Bought to Close SPX Jun 12 2024 5340.0 Puts @ 1.15 (sold for 13.20)
Sold SPX Jun 13 2024 5390.0 Puts @ 11.90
Could’ve gotten 19 bucks for a roll this morning. Just couldn’t get any sort of weakness all afternoon which is what you really need when waiting later in the day.
Bought to Close SPX Jun 11 2024 5340.0 Puts @ .20 (sold for 3.10)
Sold SPX Jun 12 2024 5340.0 Puts @ 13.20
OK Mr. Market you are now free to sell off last hour. LOL
Premium gets a LOT better on Wed.
Bought to Close SPX Jun 10 2024 5330.0 Puts @ .10 (sold for 4.25)
Sold SPX Jun 11 2024 5340.0 Puts @ 3.10
Not a lot of premium first two days next week. Things crank up again on Wed.
Bought to Close Jun 07 2024 5320.0 Puts @ .75 (sold for 14.05)
Bought to Close Jun 07 2024 5320.0 Put @ .75 (sold for 11.20)
Sold SPX Jun 10 2024 5330.0 Puts @ 4.25
Starter. Come and get it.
Sold XBI Jul 19 2024 87.0 Put @ 1.40
If anyone is interested:
Roaring Kitty Livestream:
The Roaring Kitty guy is doing a livestream tomorrow so closing for safety.
Bought to Close Jun 21st 17.5/10.0 Bull Put Spreads @ .29 (sold for .48)
Wow! What happened? Nearly 90 points in 15 minutes.
Since these were only worth about a dollar and the market doesn’t feel like a big selloff is coming today (LOL famous last words!) rolling early to keep the theta going. More data coming tomorrow so still nice premium down at the expected move.
Rolled SPX Jun 06 2024 5310.0 Puts to Jun 07 2024 5320.0 Puts @ 7.00 credit (14.05 total now)
Rolled SPX Jun 06 2024 5320.0 Put to Jun 07 2024 5320.0 Put @ 6.50 credit (11.20 total now)
Never got anywhere close to a full position but I’ll take ’em.
Bought to Close XBI Jun 21 2024 84.0 Put @ .14 (sold for 1.50)
Bought to Close XBI Jun 21 2024 85.0 Put @ .18 (sold for 1.67)
Taking these as quick scalps at 55-60 percent of max many weeks early.
Bought to Close SPY Jul 12 2024 505.0 Put @ 1.39 (sold for 3.00)
Bought to Close SPY Jul 19 2024 495.0 Put @ 1.13 (sold for 2.83)
Bought to Close SPY Jul 31 2024 490.0 Put @ 1.33 (sold for 2.90)
Added another synthetic short in non taxable account. I’ll be looking to close the one in the taxable account soon. Easier to do these if they are all together in one spot. That’ll be it until Sep when the Dec 2030s come along.
Added Dec 2027 5400/5400/5800 @ 202.00
Sold SPX Jun 06 2024 5320.0 Put @ 4.70
Finally a little dip to get this done.
Bought to Close SPX Jun 05 2024 5280.0 Puts @ .55 (sold for 14.90)
Sold SPX Jun 06 2024 5310.0 Puts @ 7.05
Synthetic covered calls. Spending some of my premium received on the roll up and out. This should be a week or two prior to earnings.
Rolled BA Jun 07 2024 172.5 Calls to Jul 19 2024 180.0 Calls @ 2.75 debit. (.90 total now)
Rolled out and down to tomorrow on the early small bounce. Great premium next week so I’d like to get out of these this week. Next week should be WILD!
Rolled SPX Jun 04 2024 5290.0 Puts to Jun 05 2024 5280.0 Puts @ even. (14.90 total now)
Selling the expected move and down under the 100 day.
Sold SPY Jul 12 2024 505.0 Put @ 3.00
Time will tell if this was a good move or not. Bringing these back in to tomorrow. Instead of a roll booking it as a closing a position and then opening a new position.
Bought to Close SPX Jun 06 2024 5290.0 Puts @ 21.50 (sold for 23.15 and 23.75)
Sold SPX Jun 04 2024 5290.0 Puts @ 14.90
Selling outside the expected moves and down closer to the 200 day.
Sold SPY Jul 19 2024 495.0 Put @ 2.82
Sold SPY Jul 31 2024 490.0 Put @ 2.90
EDIT: Bought SPY Sep 20 2024 250.0 Puts @ .13 as a little backstop to sell against.
Still in a long synthetic stock position. Won’t bore you with too many details.
Closed Dec 2026 190/190/150 @ 1.85 gain. Happy with that since I was able to keep up with the down move selling aggresive calls.
Reset to Dec 2026 175/175/135. Still selling aggressively against it.
Sold BA Jun 07 2024 172.5 Calls @ 3.65
Letting today’s short 175 calls expire (sold for 2.45)
EDIT: Certainly don’t want to have to deal with double sales on the short calls. Closing for safety.
Bought to Close BA May 31 2024 175.0 Calls @ .23 (sold for 2.45)
A small synthetic stock position
Bought to Close SNOW May 31 2024 155.0 Calls @ .03 (sold for 8.30)
Sold SNOW Jun 07 2024 150.0 Calls @ 1.68
SPX IV is jacked up a little next Friday so rolling to Thursday. Might be able to use Friday premium for a roll or another sale then.
Rolled SPX May 30 2024 5300.0 Puts to Jun 06 2024 5290.0 Puts @ even. (23.15 and 23.75 total now)
Straight roll today.
Rolled SPX May 29 2024 5300.0 Puts to May 30 2024 5300.0 Puts @ 3.15 and 3.25 credit (23.15 and 23.75 total now)
Options Bistro 