Rolled right at the open to start capturing the weekend premium.
Rolled SPX Nov 08 2024 5925.0 Puts to Nov 11 2024 5945.0 Puts @ 5.75 credit (12.75 total now)
Author Archives: fuzzballl
VXX
Sold againt synthetic short stock.
Rolled VXX Nov 08 2024 54.0 Puts to Dec 20 2024 51.0 Puts @ .75 debit (1.45 toal now)
BA
Small roll up for additional credit.
Rolled BA Nov 15 2024 150.0 Puts to Nov 15 2024 152.5 Puts @ 1.15 credit (3.85 total now)
SPX
Selling tomorrow near yesterday’s high and the expected move.
Bought to Close SPX Nov 07 2024 5875.0 Puts @ .40 (sold for 11.50)
Sold SPX Nov 08 2024 5925.0 Puts @ 7.00
SPX
Not sure what I’ll use these for but it seems like a good day to do it.
Bought to Open SPX Dec 19 2025 1000.0 Puts @ 1.60
SPX
Wouldn’t mind these new ones taking some heat tomorrow. C’mon JP!
Bought to Close SPX Nov 06 2024 5825.0 Puts @ .25 (Sold for 30.60)
Sold SPX Nov 07 2024 5875.0 Puts @ 11.50
SPY
Taking these early on the bounce.
Bought to Close SPY Nov 15 2024 555.0 Put @ .50 (sold for 2.90)
Bought to Close SPY Dec 20 2024 510.0 Put @ .98 (sold for 3.00)
Bought to Close SPY Dec 20 2024 510.0 Put @ .97 (sold for 3.27)
Bought to Close SPY Dec 20 2024 520.0 Put @ 1.20 (sold for 3.15)
Bought to Close SPY Dec 20 2024 525.0 Put @ 1.40 (sold for 4.37)
Bought to Close SPY Dec 20 2024 530.0 Put @ 1.60 (sold for 3.47)
SPX
Rolling down but taking a little premium too. Might still have good premium post election with the Fed coming.
Rolled SPX Nov 05 2024 5835.0 Puts to Nov 06 2024 5825.0 Puts @ 4.50 credit (30.60 total now)
BA
I think the vote will pass this time.
Rolled BA Nov 15 2024 145.0 Puts to Nov 15 2024 155.0 Puts @ 3.40 credit (5.40 total now)
And:
Sold BA Nov 15 2024 150.0 Puts @ 2.70
SNOW
Selling against synthetic stock. Goal is to get out at even at some point.
Bought to Close SNOW Nov 01 2024 117.0 Calls @ .23 (sold for 2.65)
Sold SNOW Nov 08 2024 117.0 Calls @ 3.08
VXX
Another round.
Bought to Close VXX Nov 01 2024 53.0 Puts @ .05 (sold for 1.60)
Sold VXX Nov 08 2024 54.0 Puts @ 2.20
SPX
Straight roll. See if we get any sort of follow through on Mon or Tue.
Rolled SPX Nov 01 2024 5835.0 Puts to Nov 05 2024 5835.0 Puts @ 1.50 credit (26.10 total now)
AMZN earnings
Lottery ticket:
Bought Nov 01 2024 175/180/185 put butterfly @ .60
SPY
Add to Dec ladder.
Sold SPY Dec 20 2024 510.0 Put @ 3.00
VXX
Adding to synthetic short one more time.
VXX Jan 16 2026 55/55/85 @ 13.50 debit.
And:
Sold VXX Nov 08 2024 54.0 Puts @ 2.05
MCD
Took a shot at a post Ecoli bounce. Not getting it so selling the same strikes on the call side to reduce max loss. Just one contract.
Sold MCD Nov 15 2024 300/305 Bear Call Spread @ 1.05 (total for both sides now 3.65)
I’ll have to decide on expiration day if I want the stock or not. Planning on just taking the loss unless Mickey Deez really tanks. Would maybe consider keeping it around 280.
SPX
IV and expected moves between today and Friday of election week. Highest I have ever seen. Mind blowing put premiums.
SNOW
Selling against synthetic stock.
Bought to Close SNOW Oct 25 2024 117.0 Calls @ .10 (sold for 3.85)
Sold SNOW Nov 01 2024 117.0 Calls @ 2.65
VXX
Selling against synthetic shorts. Staying aggressive. Plenty of nice IV to roll into during election week if needed.
Bought to Close VXX Oct 25 2024 52.5 Puts @ .14 (sold for .88, 1.30, 1.40, 4.50)
Sold VXX Nov 01 2024 53.0 Puts @ 1.59
BA
Reloading.
Sold BA Nov 15 2024 145.0 Puts @ 2.03
BA earnings
Bought to Close BA Oct 25 2024 152.5 Puts @ .05 (sold for 1.57)
TLT
Still have a synthetic stock position I’m selling against.
Bought to Close TLT Nov 01 2024 97.5 Calls @ .03 (sold for .38)
Sold TLT Nov 08 2024 95.5 Calls @ .61
TSLA earnings
I’ll take it. LOL
Bought to Close TSLA Dec 20 2024 160.0 Puts @ .58 (sold for 1.95)
SPX
Rolling out to next Friday. Down a little but going for extra premium.
Rolled SPX Oct 23 2024 5845.0 Puts to Nov 01 2024 5835.0 Puts @ 10.00 credit (24.60 total now)
VXX
Adding to synthetic short again. Turning into a decent sized position. A bunch of short puts sitting at 52.50 for Friday. Be nice not to have to roll again.
VXX Jan 16 2026 55/55/85 @ 15.00 debit.
And:
Sold VXX Oct 23 2024 52.5 Puts @ .88
SPY
Adding below the 200 day.
Sold SPY Dec 20 2024 520.0 Put @ 3.15
MCD
Just for fun. Earnings on the 29th.
Sold MCD Nov 15 2024 305/300 Bull Put Spread @ 2.60
BA
Early on this but might get a pop if the contract offer passes.
Rolled BA Oct 25 2024 152.5 Calls to Dec 20 2024 165.0 Calls @ .30 debit (3.00 total now)
SPY
Out to Dec and down at the 200 day. Looking to add lower.
Sold SPY Dec 20 2024 530.0 Put @ 3.47
SPX
Be out most of the day so an early roll today.
Rolled SPX Oct 22 2024 5850.0 Puts to Oct 23 2024 5845.0 Puts @ 3.00 credit (14.60 total now)
BA
Setting up a synthetic covered straddle for earnings. Short 152.5 calls so adding the put side.
Sold BA Oct 25 2024 152.5 Puts @ 1.57
SPX
Roll to tomorrow and down a strike.
Rolled SPX Oct 21 2024 5855.0 Puts to Oct 22 2024 5850.0 Puts @ 2.65 credit (11.60 total now)
SPY
Starter at the 100 day. Hoping for more down at the 200 eventually.
Sold SPY Nov 15 2024 555.0 Put @ 2.90
SPX
And finally:
Sold SPX Oct 21 2024 5855.0 Puts @ 8.50 and 9.40
SPX whew!
SPX Closed everything and reset to higher strikes.
Had 5 positions but one was closed quite awhile ago in a different account for a 211 point gain.
Other 4 positions:
SPX Dec 2027 5400/5400/5800 @ 202.0 debit (trade set Jun 05 2024)
SPX Dec 2028 5000/5000/5400 @ 283.0 debit (trade set Feb 08 2024)
SPX Dec 2029 5200/5200/5600 @ 360.0 debit (trade set Mar 07 2024)
SPX Dec 2029 5500/5500/5900 @ 308.0 debit (trade set Jul 15 2024)
Dec 2027 closed for 95.0 credit
Dec 2028 closed for 63.0 credit
Dec 2029 closed for 179.0 credit
Dec 2029 closed for 260.0 credit
Math:
Net loss on LEAPS:
-556.0
Total premium received from daily sales:
1087.0
Net gain on all positions combined:
531.0 (or 132.75 average per position all being rolled into the cost of the new positions)
Moral of the story:
This crazy experiment has given me great data for the future. It’s possible to have really good profits shorting SPX in a crazy up market due to more than offsetting the rise with daily put sales. A flat to slightly descending market would be fantastic. (it can’t go up forever! LOL)
For simplicity I’ve reset everything to just 2028 and 2029 all at the same strikes.
SPX Dec 2028 5800/5800/6200 @ 288.0 debit (trade set Oct 18 2024)
SPX Dec 2029 5800/5800/6200 @ 355.0 debit (trade set Oct 18 2024)
With 2 of each of these the total debit is 1286.0 minus the 531.0 profits the cost has already been greatly reduced to 188.75 per position. Daily sales will reach the bottom line much quicker now. We’ll call it my #SPXsnowball 🙂 🙂 🙂
SPX
Last trade with my current positions. Reset everything to higher strikes. Took the profits and rolled them into the costs of the new positions. Detailed post coming on that later.
Bought to Close SPX Oct 18 2024 5850.00 Puts @ 1.00 (sold for 50.55)
BA SNOW SPX VXX XBI XLU
A few.
BA: Rolling into earnings. Sold against synthetic stock.
Rolled BA Oct 18 2024 150.0 Calls to Oct 25 2024 152.5 Calls @ 1.20 credit (3.30 toal now)
SNOW: Sold against synthetic stock.
Rolled SNOW Oct 18 2024 115.0 Calls to Oct 25 2024 117.0 Calls @ .10 debit (3.80 total now)
SPX: Still working it. 5850 short puts for today’s expiration.
VXX: Sold against synthetic short stock.
Rolled VXX Oct 18 2024 53.0 Puts to Oct 25 2024 52.5 Puts @ .35 credit (1.30, 1.40, and 4.50 total now)
XBI: Taking nice gains early.
Bought to Close XBI Nov 01 2024 93.0 Puts @ .27 (sold for 1.30)
Bought to Close XBI Nov 15 2024 90.0 Puts @ .53 (sold for 1.33)
XLU: Sold against synthetic short stock.
Bought to Close XLU Oct 18 2024 77.5 Puts @ .01 (sold for .31)
Sold XLU Nov 15 2024 78.0 Puts @ .61
AMZN
Closing synthetic longs with earnings approaching. I’ll re-load if we get a pullback.
Sold to Close AMZN Dec 18 2026 180/180/140 (and 10/18 180 short calls) @ 24.55 credit (bought for 20.35)
TLT
Taking these early.
Bought to Close TLT Nov 01 2024 90.0 Puts @ .14 (sold for .23)
Bought to Close TLT Nov 01 2024 91.0 Puts @ .21 (sold for .34)
SPX
I’ve been rolling up all month. Might as well go out in a blaze of glory. LOL Rolling up to yesterday’s high and a little inside the expected move.
Rolled SPX Oct 18 2024 5795.0 Puts to Oct 18 2024 5850.0 Puts @ 7.00 credit (50.55 total now)
(Too early)
SPX
I may close all positions and book the gains and re-center all the positions this week. We’ll see how it goes.
Rolled SPX Oct 18 2024 5775.0 Puts to Oct 18 2024 5795.0 Puts @ 3.10 credit (43.55 total now)
VXX
A few more.
Bought to Close VXX Oct 11 2024 53.0 Puts @ .05 (sold for 1.60)
Sold VXX Oct 18 2024 53.0 Puts @ .95
SPX
Sitting right at the expected move for next week and deltas starting to flip negative so rolling up to a little inside the expected move. Not a lot of data next week just retail sales and unemployment claims on Thursday.
Rolled SPX Oct 18 2024 5700.0 Puts to Oct 18 2024 5725.0 Puts @ 4.10 credit (37.00 total now)
BA
Another round. Earnings on the 23rd.
Bought to Close BA Oct 11 2024 155.0 Calls @ .05 (sold for 2.45)
Sold BA Oct 18 2024 150.0 Calls @ 2.10
VXX
Another round against synthetic shorts.
Bought to Close VXX Oct 11 2024 52.5 Puts @ .05 (sold for 1.45)
Sold VXX Oct 18 2024 53.0 Puts @ 1.05
VXX
Adding to synthetic short.
VXX Jan 16 2026 55/55/85 @ 15.25 and 15.00 debit.
And:
Sold VXX Oct 18 2024 53.0 Puts @ .95
SPX
Might be pushing my luck here but nothing seems to bother this market. Let’s see if that’s true for one more week.
Rolled SPX Oct 18 2024 5675.0 Puts to Oct 18 2024 5700.0 Puts @ 4.00 credit (32.90 total now)
XBI
Adding.
Sold XBI Nov 15 2024 90.0 Puts @ 1.33
SPX
Right at the open.
Rolled SPX Oct 18 2024 5650.0 Puts to Oct 18 2024 5675.0 Puts @ 4.50 credit (28.95 total now)
TLT
Dumping all my covered TLT stock in case the 200 day doesn’t hold. SPAXX interest still above the TLT divvy so getting the cash back in there. Partially re-loading with put sales below the 200 day.
Sold TLT Shares @ 94.20 net (after closing short calls) basis of 89.30
Sold TLT Nov 01 2024 90.0 Puts @ .23
Sold TLT Nov 01 2024 91.0 Puts @ .34
NVDA
Bought to Close NVDA Nov 01 2024 110.0 Put @ .95 (sold for 3.42)
VXX
Got the rest finally.
Bought to Close VXX Oct 04 2024 53.0 Puts @ .05 (sold for 1.30)
Sold VXX Oct 11 2024 53.0 Puts @ 1.60
BA SPX TLT VXX
A few.
BA: Selling against synthetic stock.
Bought to Close BA Oct 04 2024 160.0 Calls @ .03 (sold for 2.70)
Sold BA Oct 11 2024 155.0 Calls @ 2.45
SPX: Roll up for a little more premium. Staying slightly long deltas but keeping some downside room.
Rolled SPX Oct 18 2024 5630.0 Puts to Oct 18 2024 5650.0 Puts @ 3.75 credit (24.45 total now)
TLT: Got the regular divvy and keeping the stock. And 6 months of divvys on the call sales. LOL
Bought to Close TLT Oct 04 2024 97.0 Calls @ .01 (sold for 2.10)
Sold TLT Oct 18 2024 97.0 Calls @ .55
VXX: Sold against synthetic short stock.
Bought to Close VXX Oct 04 2024 50.0 Puts @ .05 (sold for 1.15)…waiting on 53s to fill also.
Sold VXX Oct 11 2024 52.5 Puts @ 1.45
Port Strike
You wonder why they want the restriction on automation in the new contract? No putting the AI genie back in the bottle now.
https://x.com/ShangguanJiewen/status/1840736962564559310
NVDA
Starter just before the election.
Sold NVDA Nov 01 2024 110.0 Put @ 3.42
VXX
Adding to synthetic short.
VXX Jan 16 2026 55/55/85 @ 17.00 debit.
And:
Sold VXX Oct 04 2024 51.0 Puts @ 1.15
BA SNOW SPX TLT XLU
A few:
BA: Sold against synthetic stock.
Rolled BA Sep 27 2024 155.0 Calls to Oct 04 2024 160.0 Calls @ .25 credit (2.70 total now)
SNOW: Sold against synthetic stock.
Rolled SNOW Sep 27 2024 110.0 Calls to Oct 18 2024 115.0 Calls @ .05 credit (3.90 total now)
SPX: No changes but looking at a possible roll up of the short puts.
TLT: Covered stock I’m hanging onto for one more week to get the divvy.
Rolled Sep 27 2024 97.0 Calls to Oct 04 2024 97.0 Calls @ .14 credit (2.10 total now)
XLU: Sold against synthetic short stock.
Bought to Close XLU Sep 27 2024 77.5 Puts @ .01 filled yesterday (sold for .28)
Sold XLU Oct 18 2024 77.5 Puts @ .31
XBI
Starting a pre-election ladder at the 200 day.
Sold XBI Nov 01 2024 93.0 Puts @ 1.30
TLT
Another round.
Sold TLT Oct 18 2024 100.0 Calls @ .41
TLT
On the road this week so not doing much. These were sold against synthetic long stock.
Bought to Close TLT Sep 30 2024 102.0 Calls @ .01 (sold for .80)
SPX
Rolled SPX Oct 18 2024 5610.0 Puts to Oct 18 2024 5630.0 Puts @ 3.70 credit (20.70 total now)
SPY
Buying these to sell against on the next implosion. Far enough out to cover all the election drama also.
Bought to Open SPY Mar 21 2025 200.0 Puts @ .28
Bought to Open SPY Mar 21 2025 250.0 Puts @ .47
SPX
Let’s give Mr. Market something to think about.
Rolled SPX Oct 18 2024 5600.0 Puts to Oct 18 2024 5610.0 Puts @ 2.00 credit (17.00 total now)
New positions are currently about 32 long deltas and 425 theta overall including the LEAPS.
Fun fact: 5630 is the highest strike I’ve ever sold so almost there.
BA SNOW XLU
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
SPX
#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)
SPX
#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.
SPX
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
SPY
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)
NVDA
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)
XLU
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
VXX
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
Spot Gamma
Wouldn’t accept my copy/paste. I’ll try the link. Pretty much nailed the downside risk.
https://tinyurl.com/57zp9z3j
SPY
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
SPY
And finally.
Sold SPY Sep 27 2024 525.0 Put @ 3.33
SPY
One more.
Sold SPY Oct 4 2024 525.0 Put @ 3.50
Options Bistro 