SPX trades

#SPX1dte Sold to Open $SPX March 1st 3665/3685-3920/3940 iron condors for 1.40, SPX at 3829, IV 19.5%, deltas -.06 +.06

#SPX7dteLong Expiring at max credit of 20.00: Feb 26th 3885/3865 put spreads. Condors bought for 16.35 on Monday

#Speculation Bought to Open $SPX March 5th 3700/3680 put spreads for 2.65.

SPX 1-dte

#SPX1dte Bought to close $SPX 3700/3680 put spreads for .35. Condors sold yesterday for 1.35. Protecting from any possible big drop today.

Downside Warning in effect

#VIXIndicator Expect lower levels in the coming days or weeks.

Last DW fired on Jan 27th. The SPX low was only two days later and we rebounded from there. So it was brief.
The one before that was on Sept 3, 2020. The SPX low was 3 weeks later on Sep 24th.

SPX 1-dte

#SPX1dte Sold to Open $SPX Feb 26th 3680/3700-3920/3940 iron condors for 1.35, SPX at 3836, IV 27.5%, deltas -.06 +.05

SPX 7-dte

#SPX7dteLong Bought to Open $SPX March 3rd 3835/3855-3865/3885 iron condors for 17.95, with SPX at 3857.

Upside Warning canceled

#VIXIndicator The $VIX spike above 26.67 just killed the Upside Warning. We’ll go into a Downside one if we close above it.

SPX trades

#SPX1dte Expiring: $SPX Feb 24th 3790/3810-3945/3965 condors, sold yesterday for 1.25

#SPX7dteLong This one would have been an ideal candidate for a double-dip profit, but I sadly did not close put side on yesterday morning’s drop. Condor purchased for 16.40 last Thursday…

Sold to close 39056/3885 put side for .50 at 47 minutes before closing bell.
Letting call side expire… Hopefully will be at least 10.00 credit.

GME flying again?

Moving rapidly higher, up 40%+ on day, mostly in last few minutes

SPX trades

#SPX1dte Sold to open $SPX Feb 24th 3790/3810-3945/3965 iron condors for 1.25, SPX at 3890, IV 15.7%, delats -.06 +.06

#SPX7dteLong Bought to Open $SPX 3865/3885-3895/3915 iron condors for 16.75, SPX at 3890.

SPX 7-dte

#SPX7dteLong These two orders were filled at the same instant when SPX dipped to 3887.50:

Sold to Close $SPX Feb 22nd 3920/3900 put spreads for 19.65. Condors bought for 15.55 last Wednesday.

Bought to Open Feb 26th 3865/3885-3895/3915 iron condors for 16.35.

#spx1dte

SPX 1-dte

#SPX1dte Sold to Open $SPX 3810/3830-3955/3975 iron condors for .95, SPX at 3903, IV 9.8%, deltas -.06 +.06

Expiring: Feb 19th 3820/3840-3965/3985 condors, sold yesterday for .95

SPX 7-dte

#SPX7dteLong. Well, missed the timing on my long-only attempt for this Upside Warning. Sold to close $SPX Feb 19th 3935/3955 call spread for 2.70. Bought for 9.00 on Monday.

SPX 1-dte

#SPX1dte Sold to open $SPX Feb 19th 3820/3840-3965/3985 iron condors for .95,, SPX at 3918, IV 13.9%, deltas -.06 +.07

SPX 7-dte

#SPX7dteLong Bought to Open $SPX Feb 24th 3885/3905-3915/3935 iron condors for 16.40, with SPX at 3910.

Earnings updated

Sorry for falling behind, but if you refresh your browser you’ll see that the Upcoming Earnings chart has now been updated in the right-hand column.

SPX trades

#SPX7dteLong Bought to Open $SPX Feb 22nd 3900/3920-3930/3940 iron condors for 15.55, with SPX at 3923.

Earlier, sold to close Feb 17th 3905/3885 put spreads for 6.50. Watching 3915/3935 call spreads for a good exit. Condos bought last Thursday for 15.90.

#SPX1dte Expected to expire: Feb 17th 3850/3870-3975/3995 condors, sold yesterday for .95.

SPX trades

#SPX1dte Sold to Open $SPX Feb 17th 3850/3870-3975/3995 iron condors for .95, SPX at 3936, IV 12.9%, deltas: -.07, +.07

#SPX7dteLong – Waiting for the close on this one, a spike a bit higher will help.

SPX 7 dte

#SPX7dteLong Bought to Open $SPX Feb 19th 3935/3955 call spreads for 9.00, with SPX at 3931.

Taking a cue from the Upside Warning and trying LONG only for this Friday’s expiration.

As for today’s expiration, flirting with the dead zone if we keep dropping.

SPXpire & GME

#SPX1dte Expiring: $SPX Feb 12th 3825/3845-3955/3975 condors, sold yesterday for 1.00.

Skipped selling one for Tuesday.

Expired: $GME Feb 12th 15 puts, sold last week for .50.

SPX7dte

#SPX7dteLong Sold to close $SPX Feb 12th 3875/3895-3905/3925 condors for 12.15. Bought on Monday for 15.25.

Taking the loss early rather than trying to ride the swings. A 3.10 hit is easier to stomach that what can get much bigger if I don’t exit it right.

SPX trades

#SPX7dteLong Bought to Open $SPX Feb 17th 3885/3905-3915/3925 iron condors for 15.90, SPX at 3910.

#SPX1dte Sold to Open $SPX Feb 12th 3825/3845-3955/3975 iron condors for .95, SPX at 3914, IV 12.55%, delta -.06 +.06

SPXpire

#SPX1dte Expired: $SPX Feb 10th 3840/3860-3960/3980 condors, sold yesterday for .95.

#SPX7dteLong Expiring with max credit of 20.00: Feb 10th 3865/3885 call spreads. Condors bought last Thursday for 15.70

SPX trades

#SPX7dteLong Bought to Open $SPX Feb 16th 3895/3915-3925/3945 iron condors for 15.60, with SPX at 3917.

#spx1dte

SPX trades

#SPX7dteLong Bought to Open $SPX Feb 12th 3875/3895-3905/3925 iron condors for 15.30, with SPX at 3901.

Expected to expire with max credit of 20.00: Feb 8th 3840/3860 call spreads. Condors bought for 16.85 last Tuesday.

#SPX1dte Expected to expire worthless: Feb 8th 3790/3810-3935/3955 condors, sold Friday for .90.

Upside Warning in effect

#VIXIndicator Well, that was a quickie. Back to the moon!

SPX 1-dte

#SPX1dte Sold to Open $SPX Feb 8th 3790/3810-3935/3955 iron condors for .90, SPX at 3884, IV 9.5%, deltas -.06,+.06

SPX 1-dte

#SPX1dte Bought to close $SPX Feb 5th 3905/3925 call spreads for .15, when SPX was at 3882. Stop hit at the open so closed it. Put side expected to expire. Condors sold yesterday for 1.05

January Jobs Report

#Jobs — Hiring resumes.

Gain of +49,000 non-farm payroll jobs, vs. expected gain of 50K
Unemployment at 6.3%, down by 0.4
U6 unemployment at 11.1%, down by 0.6
Labor force participation 61.4%, down by 0.1

Dec jobs revised down by -87K to -227K
Nov jobs revised down by -72K to +264K

SPX 1 dte

#SPX1dte Sold to Open $SPX Feb 5th 3775/3795-3905/3925 iron condors for 1.05, SPX at 2863, IV 12.8%, deltas -.06, +.07

SPX 7dte

#SPX7dteLong Sold to close $SPX Feb 5th 3780/3800 call spreads for 19.50. Condors bought for 17.65 last Friday. Put spread still in place for a hedge or cheap sale.

Bought to Open $SPX Feb 10th 3835/3855-3865/3885 iron condors for 15.70, with SPX at 3860

Downside Warning canceled

#VIXIndicator It was canceled at yesterday’s close. It went into effect at close on 1/27. Highest VIX and lowest SPX were on Friday 1/29. So it was a short one.

SPX trades

#SPX7dteLong Sold to close $SPX Feb 3rd 3830/3850 call spreads for 9.25. Leaving put side for possible down move into close… if not then trade will be a loss. Condors bought for 17.55 last Thursday. I will post the exit below as a comment.

#SPX1dte expecting to expire: Feb 3rd 3715/3735-3895/3415 iron condors, sold yesterday for 1.05

SPX trades

#SPX7dteLong Bought to Open $SPX Feb 8th 3810/3830-3840/3860 iron condors for 16.85, with SPX 3837.

#spx1dte

SPX trades

#SPX7dteLong Bought to Open $SPX Feb 5th 3750/3770-3780/3800 iron condors for 17.65, with SPX at 3774.

Expected to expire with full 20.00 credit: Feb 1st 3855/3835 put spreads. Condors bought for 16.20 last Tuesday.

#SPX1dte Expiring: Feb 1st 3540/3560-3825/3845 condors, sold Friday for 1.25.

GME puts

#ShortPuts #Speculation My first position in the nuttiness.

Sold to Open $GME Feb 12th 15 puts for .50.

Also looking for a good way to be short with a spread.

SPX trades

#SPX1dte Sold to Open $SPX Feb 1st 3540/3560-3825/3845 iron condors for 1.25, SPX at 3726, IV 22.5%, deltas -.06,+.06

Expiring: Jan 29th 3660/3680-3870/3890 condors, sold yesterday for 1.15

#SPX7dteLong Expiring for max credit of 20.00: Jan 29th 3855/3835 put spreads. Condors bought for 16.55 on Monday

GME up again

Up to $338 in after-hours (from 197 close) after RobinHood says it will reopen trading on Friday.

Good overview of GME saga

https://www.theatlantic.com/ideas/archive/2021/01/why-everybody-obsessed-gamestop/617857/

SPX 1-dte

#SPX1dte Sold to Open $SPX Jan 29th 3660/3680-3870/3890 iron condors for 1.15, SPX at 3795, IV 23.2%, delats -.07,+.06

Is it fair?

So criticism is abound today toward Robinhood for shutting off new positions in $GME (Game Stop) and others. Many of these retail traders that drove the stock up ONLY have Robinhood or other restrictive platforms, while hedge funds and others can trade shares in myriad ways without restriction. Plus, it is mostly retail traders who are LONG, and can still close their positions by selling… and the Hedge Funds are SHORT, so they want to see that selling happen.

I’m of two minds about this… on the one hand Robinhood is closing new positions to ALL traders… but the effect is that only the smaller guys are being restricted. Robinhood enticed and attracted smaller players to the market, and when these traders suddenly succeed in a huge play that damaged hedge funds, they are then cut off. But in another sense, this also protects novice traders from buying GME at $300, only to see it drop back to $20 in a few days or weeks (maybe).

What do you guys think? Should Robinhood be a fault? Will further action from Washington just drive brokers like RH out of business, limiting access to the smaller guys once again?

AOC, Rashida Tlaib Rip Robinhood Over GameStop Trading Restrictions

SPX 7-dte

#SPX7dteLong Bought to Open $SPX Feb 3rd 3800/3820-3830/3850 iron condors for 17.55, with SPX at 3827.

Will the GME game stop?

I hope everyone on Earth has now seen the dangers in selling short calls or stock. With the Natural Gas crash, and $SVXY, and now a bunch of Reddit geeks and $GME… I feel lucky to have escaped my earlier trading days when naked options were a regular part of my strategy. Even so, still got spanked badly last year with naked calls on $DRIP… that was my final gambit. Don’t be surprised if something like GME happens to the DOWN side on a high priced stock, imperiling naked put sellers.

Downside Warning taking effect at the close

#VIXIndicator Over 25% higher at the close means new Downside Warning… we are likely to see lower prices in the coming days or weeks.

SPX trades

#SPX1dte STOPPED: bought to close $SPX Jan 27th 3780/3760 put spreads for 3.90. Condors sold yesterday for 1.05. I have been riding this one up and down all day, from 9.00 to about 2.50, then back to 9.00.

#SPX7dteLong Expecting full credit of +20.00 on 3855/3835 put spreads. Condors bought for 15.60 last Thursday.

So between the two strategies came out 1.55 ahead on the day.

SPX 1-dte

#SPX1dte Sold to Open $SPX 3760/3780-3905/3925 iron condors for 1.05, SPX at 3857, IV 14.55%, deltas -.06, +.07.

SPX 7-dte

#SPX7dte Bought to Open $SPX Feb 1st 3835/3855-3865/3885 iron condors for 16.25, with SPX at 3857.

SPX trades

#SPX7dteLong Bought to open $SPX Jan 29th 3815/3835-3845/3865 iron condors for 16.55, with SPX at 3841.

#SPX1dte Bought to close Jan 25th 3780/3760 put spreads for .10. Stop was hit on the huge dip so playing it safe.

SPX 7-dte

#SPX7dteLong Sold to close $SPX Jan 25th 3835/3815 put spreads for 2.20. Banking on call side for a better return. Condors bought last Wednesday for 15.55.

SPX 1-dte

#SPX1dte Sold to Open $SPX Jan 25th 3760/3780-3890/3910 iron condors for 1.15, SPX at 3848, IV 9.7%, deltas: -.07,+.07

Expiring: Jan 22nd 3780/3800-3905/3925 condors, sold yesterday for .85

SPX trades

#SPX7dteLong Bought to Open Jan 27th $SPX 3835/3855-3865/3885 iron condors for 15.60, with SPX at 3860

#SPX1dte Sold to Open Jan 22nd $SPX 3780/3800-3905/3925 iron condors for .80, SPX at 3860, IV 11.6%, deltas -.06,+.06.

SPXpire

#SPX7dteLong Expiring for max credit of 20.00: $SPX Jan 20th 3825/3845 call spreads. Sold put side for 4.80 this morning, so that somewhat makes up for yesterday’s loss!

SPX 7-dte

#SPX7dteLong Bought to Open $SPX 3815/3835-3845/3865 iron condor for 15.55, with SPX at 3839.

SPX trades

#SPX7dteLong Suffered a full loss yesterday (16.75) as I clung to the trade in hopes of a drop into the close. After that, not going to wait on today’s condor which could also end up in the dead zone.
Sold to close $SPX Jan 20th 3815/3795 put spreads for 4.80. Condors bought for 15.80 last Thursday. I think there’s the possibility for a strong rally today provided inauguration goes smoothly.

#SPX1dte Yesterday’s expired at max profit (1.35)… did not sell one for today given chance for a big move.

SPX trades

#SPX1dte Sold to Open $SPX Jan 19th 3645/3665-3835/3855 iron condors for 1.35, SPX at 3778, IV 13.1%, delats -.07,+.07

Expiring: Jan 15th 3710/3730-3855/3875 condors, sold yesterday for 1.00

#SPX7dteLong Expected to expire at max credit of 20.00: Jan 15th 3810/3790 put spreads. Condors bought for 16.50 on Monday.

SPX 1-dte

#SPX1dte Sold to Open $SPX Jan 15th 3710/3730-3855/3875, with SPX at 3805, IV 15.55%, deltas: -.07,+.06

SPX 7 dte

#SPX7dteLong Bought to Open $SPX Jan 20th 3795/3815-3825/3845 iron condors for 15.80, with SPX at 3817.

SPX trades

#SPX7dteLong. Badly legged out of both sides, netted 8.20 total. Condors bought for 16.10 last Thursday.

#SPX1dte Expected to expire: condors sold yesterday for 1.00

SPX trades

#SPX7dtelong Bought to Open $SPX Jan 19th 3770/3790-3800/3820 iron condors for 16.75, with SPX at 3796. This is next TUESDAY expiration due to the Monday holiday.

#SPX1dte trade to follow

SPX trades

#SPX7dteLong Bought to Open $SPX Jan 15th 3790/3810-3820/3840 iron condors for 16.50, with SPX at 3815.

#SPX1dte Expected to expire: $SPX Jan 11th 3700/3720-3870/3890 condors, sold Friday for 1.00.

SPX trades

#SPX1dte Sold to Open $SPX Jan 11th 3700/3720-3870/3890 iron condors for 1.00, with SPX at 3816, IV 11.3%, deltas -.06, +.06.

#spx7dtelong

December Jobs Report

#Jobs — LOSS of jobs, first time in 8 months.

Loss of -140,000 non-farm payroll jobs, vs. expected gain of 50K
Unemployment at 6.7%, unchanged
U6 unemployment at 11.7%, down by 0.3%
Labor force participation 61.5%, unchanged
Avg hourly earnings +0.8%

Nov jobs revised up by +91K to +245K
Oct jobs revised up by +44K to +654K

SPX trades

#SPX7dteLong Sold to close $SPX Jan 8th 3700/3720 call spreads for 19.70. Condors bought on Monday for 17.60. Put spreads remain as a hedge for tomorrow.

Skipping #SPX1dte for tomorrow as premium is low and #Jobs report is in the morning.

SPX 7-dte

#SPX7dteLong Bought to Open $SPX 3775/3795-3805/3825 iron condors for 16.10, with SPX at 3802.

SPX trades

#SPX7dteLong Sold to close $SPX Jan 6th 3735/3755 call spreads for 19.00. Condors bought for 17.05 on 12/29.

#spx1dte

Unplugged

#Speculation Sold to close $PLUG Jan 15th 20 Calls for 16.00. Calls were bought for .80 on August 12th. I may reload if we get a deep enough pullback.

SPX 1-dte

#SPX1dte Sold to Open $SPX Jan 6th 3590/3600-3790/3810 iron condors for 1.65, SPX at 3725, IV 23.3%, deltas -.06, +.08.

SPX 7-dte

#SPX7dteLong Bought to Open $SPX Jan 11th 3690/3710-3720/3740 iron condors for 17.55, with SPX at 3718.

SPX trades

Wow, what a wild day to start the year.

#SPX7dte Sold to close $SPX Jan 4th 3730/3710 put spreads for 19.30. Condors bought for 14.25 on Wednesday.

#SPX1dte – Got stopped out of call side the same day I placed the condor (Thursday), and now getting stopped out of 3665/3645 put side. Holding on now for a bounce to make the exit cheap.

SPX 1-dte STOPPED

#SPX1dte Earlier I thought I’d get cute and put this trade on early in the day to boost premium. I figured we ain’t going to move much in final hours of the year.

Ha!

Stopping out the call side, will post my fill.

Happy New Year to the Bistro world!

Click Home/REFRESH above for the celebratory view!!!

Thanks to all for being part of this site, which just turned FIVE years old! Looking forward to another exciting year in 2021…

Below is a screengrab of my very first post, along with the first replies…. oh so long ago.

And for those of you just following but not writing posts, please email me at jpayne.rdb@gmail.com to become a Contributor if you’d like to write your own posts.

All the best!

Jeff

SPX 1-dte

#SPX1dte Sold to Open $SPX Jan 4th 3645/3665-3785/3805 iron condors for 1.25, SPX at 3730, IV at 10.8%, deltas -.06, +.06

Expecting to expire: Dec 31st 3650/3670-37703790 condors, sold yesterday for 1.15.

SPX 7-dte

#SPX7dte Sold to close $SPX Dec 30th 3715/3735 call spreads for 19.65. Condors bought for 15.45 last Wednesday.

SPX 1-dte

#SPX1dte Sold to Open $SPX Dec 31st 3650/3670-3770/3790 ieron condors for 1.10, SPX at 3731, IV 13.0%, deltas -.08,+.08.

SPX 7-dte

#SPX7dteLong Bought to Open $SPX Jan 4th 3710/3730/3740/3760 iron condors for 14.25, with SPX at 3733. I meant to buy Jan 4th yesterday, but I instead bought Jan 6th. So I’m doing the 4th today, even though it’s only two trading days away. Come get me.

SPX 7dte

#SPX7dteLong Bought to Open $SPX Jan 6th 3705/3725-3735/3755 iron condors for 17.05, with SPX at 3730.