OptionsExpiration

Expiring:
VXX 11/27/2020 21.0 Diagonal Calls
VXX 11/27/2020 21.5 Diagonal Calls
VXX 11/27/2020 22.0 Diagonal Calls
VXX 11/27/2020 22.5 Diagonal Calls
VXX 11/27/2020 23.0 Diagonal Calls

T 11/27/2020 26.00 Short Put
GILD 11/27/2020 58.00 Short Put

Everything else was rolled out.
Done for today.

INTC Covered Call rollup

Bought to close INTC Nov 27 2020 47 Call / Sold to Open INTC Dec 04 2020 47.5 Call at $0.17 Credit plus another $0.50 on the short strike.
I’m not ready to give away this stock just yet.

VXX Put rolldown

Bought to Close VXX Nov 27 2020 17.5 Puts / Sold to Open VXX Dec 04 2020 17.0 Puts at $0.09 Credit and lowered the strike 0.50.

WFC Covered Ladder Rollup

Bought to close WFC Nov 27 2020 28.0 Calls / Sold to Open WFC Dec 18 2020 30.0 Calls @ 0.07 Credit.
Added $2.00 to the short strike.
This stock is running after multiple upgrades since the stock was 26 when I put on the original short call and is now over 28.

WBA Covered Call Rollup

Bought to Close WBA Nov 27 2020 40 Call at $0.07
Sold to Open WBA Dec 04 2020 40.5 Call at $0.29.
Added $0.50 to my short strike plus the 0.22 net credit.
This company seems to be shaking off the Amazon challenge to their business.

VXX Rolls

Bought to close VXX Nov 27 2020 22.5 Puts / Sold to Open VXX Dec 04 2020 22.5 Puts at $0.11 Credit.
Bought to close VXX Nov 27 2020 21.5 Puts / Sold to Open VXX Dec 04 2020 21.5 Puts at $0.15 Credit.
Bought to close VXX Nov 27 2020 20.0 Puts / Sold to Open VXX Dec 04 2020 20.0 Puts at $0.25 Credit.

Because the market is never going down again I need to buy more time.

SPY Roll

Bought to Close 1 SPY Nov 25 2020 357 Call / Sold to Open 1 SPY Dec 02 2020 358 Call at $0.39 Net Credit and bumped the strike price up a point..

Did this on the open because of possible liquidity issues on the pre-holiday.

CINF SPY VXX

Traveling today so posting all today’s trades:
Sold to Close 1 SPY Nov 27 2020 360 Call at $4.41 for a breakeven trade. Bought this as the long side of a SPY diagonal spread on 10/08 @ 4.38 and wrote against it a few times.

Sold t0 Open 1 CINF Dec 18 2020 85 diagonal call @ 1.05. Sold against an existing March 90 Call. Replacing a similar short call that expired Friday. #DoubleDip

Two new VXX Contango specials:
Bought to Open VXX Jun 18 2021 8.0 Puts / Sold VXX Dec 04 2020 17.0 Puts @ 0.06 Credit
Bought to Open VXX Jun 18 2021 7.0 Puts / Sold VXX Dec 04 2020 16.5 Puts @ 0.02 Credit
#VXXGame

MRO Covered Calls

Sold MRO Dec 18 2020 7.0 Covered Calls @ 0.11

VXX Contango Special

Bought to Open VXX Jun 18 2021 9 Puts / Sold to Open VXX Dec 04 2020 17.5 Puts at $0.06 Credit.
Long side = 207 DTE
Short side = 11 DTE

AAL Covered Call

Sold 1 AAL Dec 18 2020 17.0 Call @ 0.17.
Bought the stock back on 3/17 @ 17.01 and I’ve been writing against it ever since.

WBA

Early roll to get the strike where I want it.
Bought to close WBA Nov 27 2020 38.5 Calls / Sold to Open WBA Dec 04 2020 40 Calls at $0.02 Credit.
Did a lateral roll out 2 weeks just before the Ex-Div date and before the Amazon announcement that tanked the stock.
I think the stock recovers by year end barring a sharp market selloff

VXX After the bell

Sold these to balance out some of my short puts with VXX @ 18.60
VXX Nov 27 2020 21.5 Calls at $0.1833
VXX Nov 27 2020 22 Calls at $0.15
VXX Nov 27 2020 22.5 Calls at $0.12

I have short Puts at these strikes that are currently ITM.

FYI
Markets will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Friday, November 27, 2020, and are closed Thursday for Thanksgiving.

OptionsExpiration

Expiring:
AAL 11/20/2020 17.0 Covered Call
CINF 11/20/2020 85.0 Diagonal Calls
INTC 11/20/2020 47.0 Covered Call
MRO 11/20/2020 6.50 Covered Calls
SLB 11/20/2020 20.50 Covered Calls
VXX 11/20/2020 26.0 Diagonal Calls
WBA 11/20/2020 41.0 Covered Call

INTC 11/20/2020 45.0 Short Put
VXX 11/20/2020 18.0 Diagonal Puts
XOM 11/20/2020 30.0 Short Put

Assignments:
KSS 11/20/2020 24.0 Covered Call
KSS 11/20/2020 25.0 Covered Call

AAL

Sold 1 AAL Dec 11 2020 15.0 Covered Call @ 0.25.
Pretty good premium with the stock down at 12.50

VXX Put Roll Down

Bought to close VXX Nov 20 2020 18.5 Puts / Sold to Open VXX Nov 27 2020 18.0 Puts at $0.19 Credit plus I lowered the short strike 0.50.

Of course the minute I did this, the SPY dropped and VXX went to the high of the day

Now only waiting for my six short strike 18.0 Puts expire in an hour

VXX Roll

Bought to close VXX Nov 20 2020 20 Puts / Sold to Open VXX Nov 27 2020 20 Puts at $0.27 Credit.
Short trading week next week.

SPY Roll

Bought to close SPY Nov 20 2020 349 Call / Sold to Open SPY Nov 27 2020 350 Call at $0.15 Credit plus a 1 point bump in the short strike

SLB Covered Call Rolls

Bought to close SLB Nov 20 2020 19.0 Calls / Sold to Open SLB Nov 27 2020 19.0 Calls at $0.09 Credit.
Bought to close SLB Nov 20 2020 19.5 Calls / Sold to Open SLB Nov 27 2020 19.5 Calls at $0.20 and 0.22 Credit.
Bought to close SLB Nov 20 2020 20.0 Calls / Sold to Open SLB Nov 27 2020 20.5 Calls at $0.02 Credit but added 0.50 to the short strike (which is now OTM)

ADS

Last Friday I rolled my short calls up to 67.50 @ 1.30 for this week. Today I closed those @ 0.95.
In their place I sold ADS Nov 27 2020 70.0 Calls @ 1.10.
With the post-Covid high of 71.50 on the stock I don’t think I’ll have to roll up again.

Considering that the stock then dropped below 67.50 I might have done better by showing more patience and waiting for the last hour.

VXX Puts

Bought to Close VXX Nov 20 2020 17.5 Puts at $0.01 .
They won’t trade any lower.

The original trade was:
Bought to open VXX Jan 21 2022 5 Puts/ Sold to Open VXX Nov 20 2020 17.5 Puts at $0.02 and $0.05 Credit last Friday and on Monday.
I now own more 1 year long puts on VXX for free.

TSLA

In Striking Rebuke, Consumer Reports Finds Tesla Has Second-Worst Reliability Of Rated Cars.

I’m not surprised

https://www.zerohedge.com/technology/striking-rebuke-consumer-reports-finds-tesla-has-second-worst-reliability-all-automakers

CR

WFC Covered Ladder

Sold WFC Nov 27 2020 28 Calls at $0.06
Sold WFC Dec 04 2020 28 Calls at $0.15
Sold WFC Dec 11 2020 28 Calls at $0.25.

WFC at 26

VXX Put Rolls to next week

One less day to trade next week
Bought to close VXX Nov 20 2020 22.5 Puts / Sold to Open VXX Nov 27 2020 22.5 Puts at $0.22 Credit.
Bought to close VXX Nov 20 2020 20.5 Puts / Sold to Open VXX Nov 27 2020 20.5 Puts at $0.35 Credit.
Bringing in $Cash and buying time.

VXX Puts – early roll

Bought to close VXX Nov 20 2020 21.5 Puts / Sold to Open VXX Nov 27 2020 21.5 Puts at $0.30 Credit.
Taking in $Cash. Buying more time.

SPY Diagonal

Sold 1 SPY NOV 25 2020 $357 CALL / Bought 1 SPY DEC 11 2020 $380 CALL @ 4.75 Credit

Bring out your dead AAL WFC

Not dead yet

VXX Contango Special

Bought to open VXX Jan 21 2022 6 Puts / Sold to Open VXX Nov 27 2020 17.5 Puts @ 0.12 Credit.
Short DTE = 9
Long DTE = 429

https://www.zerohedge.com/markets/vix-has-new-event-nemesis

AMZN WBA

Amazon to sell RX Drugs.
WBA down 10%

SPY Roll

Bought to close 1 SPY Nov 16 2020 349 Call / Sold to Open 1 SPY Nov 20 2020 349 Call @ 0.52 Credit

INTC

Sold INTC Nov 20 2020 47.0 Covered Call at $0.37 to replace the 46.50 Covered Call that expired Friday

PFE

Now trading down where it was before the vaccine announcement.

SLB Covered Calls

Sold SLB 11/20/2020 19.50 Covered Calls @ 0.26
Sold SLB 11/20/2020 20.00 Covered Calls @ 0.11 & 0.17

VXX new Long term Diagonal Puts

Can you say contango?
Bought to open VXX Jan 21 2022 6 Puts/ Sold to Open VXX Nov 20 2020 18 Puts at $0.07 Credit.
Bought to open VXX Jan 21 2022 5 Puts/ Sold to Open VXX Nov 20 2020 17.5 Puts at $0.05 Credit.
Long side = 432 DTE
Short side = 5 DTE

SPY

Sold to open 1 SPY 11/18/2020 355.0 Call @ 5.02.
Sold against a 360 Call already long for 11/27.
This works best if SPY drops next week.

OptionsExpiration

EXPIRED:
INTC 11/13/2020 46.5 Covered Call
SLB 11/13/2020 18.50 Covered Calls
SLB 11/13/2020 19.00 Covered Calls
SLB 11/13/2020 20.00 Covered Calls
VXX 11/13/2020 22.00 Diagonal Call
VXX 11/13/2020 23.00 Diagonal Calls
VXX 11/13/2020 23.50 Diagonal Calls
VXX 11/13/2020 24.00 Diagonal Call

INTC 11/13/2020 45.0 Put

ASSIGNMENTS:
KSS 11/13/2020 23.50 Covered Call

ADS Roll

Bought to close ADS 11/13/2020 65.0 Calls / Sold ADS 11/20/2020 67.50 Calls @ 0.70 Credit plus another 2.5 points on the short strike for only 1 week.
No earning or dividend to account for the very generous premium/strike bump.

Last VXX Put Roll

Bought to close VXX 11/13/2020 19.00 Puts / Sold VXX 11/20/2020 18.00 Puts @ 0.15 Credit but I dropped the strike price a full point.
I’m done with VXX for this week.
*Except for the short VXX calls that expire in an hour

KSS Roll into earning

Bought to close 1 KSS 11/13/2020 23.50 Covered Call / Sold 1 KSS 11/20/2020 24.0 Covered Call @ 1.02 Credit plus another $0.50 up on the strike price. (a nice fat time premium)

I’m letting my other 11/13 23.50 covered Call get assigned, partly based on my history with this stock.
I bought my first 100 shares on 3/13 at 23.19 just as the Covid decline accelerated . I’m letting those shares go.
I bought a 2nd 100 shares on 04/02 at 11.65. I didn’t get the dead low but did pretty well on that buy.

I’ve been sell covered calls all the way up on both lots and have been tempted to get out many times since my shares got above my average cost of 17.42.

I figure whatever happens next week I’ll be happy. It the stock is up, at least I still have some, if it is down, at least I sold some.

WBA

Rolled some covered Calls out to attempt to capture next week’s 0.4675 per share dividend on 11/18.
Bought to close WBA 11/13/2020 38.50 Covered Calls / Sold WBA 11/27/2020 38.50 Call @ even money
Bought to close WBA 11/13/2020 41.0 Covered Call / Sold WBA 11/20/2020 41.0 Call @ 0.12 Credit.
WBA is at 42.42

VXX Put Roll

Bought to close VXX 11/13/2020 19.50 Puts / Sold VXX 11/20/2020 18.50 Puts @ 0.08 Credit but I dropped the strike price a full point.
My short strikes are rapidly approaching the long strikes in January.

Still waiting to see if I will have to cover the 19.0 Puts later this afternoon

SPY – selling out a long call

Sold 1 SPY 11/20/2020 355.0 Call @ 4.57.
Bought this on 10/05 as part of a diagonal spread @ 4.23.
I wrote against this several more times after the original short was gone.
Now with only a week to go until it expires, I’m cashing in my chips on this one.

I’m probably early …. but oh well

SLB Covered Calls

Sold SLB NOV 20 2020 $19.0 Covered Calls @ 0.17 for next week.

VXX New Diagonal

Bought to Open VXX Jan 21 2022 5.0 Puts Net Credit / Sold to Open VXX Nov 20 2020 17.5 Puts @ 0.02 Credit.

Long side – 434 DTE
Short side – 7 DTE

SPY early Roll

Bought to close 1 SPY 11/13/2002 340.0 Call / Sold 1 SPY 11/18/341.0 Call @ 0.07 Credit with SPY at 352.29
Bumped the strike up 1 point closer to my long Dec 355 call.
Even if SPY falls more tomorrow, I doubt the spread between the options changes much because they are too far in the money.

VXX

Since I’ve rolled most of my short put exposure to next Friday, I’m selling some counter-balancing calls to create some short strangles.
Sold 11/20/2020 26.0 Calls @ 0.39 with VXX at 20.30.

Also sold some more calls for this week – Sold VXX 11/09/2020 23.50 Calls @ 0.11.
Trying to encourage a few short puts in VXX to expire tomorrow.

Edit: Added some VXX 11/13/2020 23.0 short Diagonal Calls @ 0.11 and 0.15

VXX Puts

One more early roll that brings my short strike closer to the strikes of my 2021 long puts

Bringing in $Cash and buying more time

Bought to close to Close VXX Nov 13 2020 22.0 Puts / Sold to Open VXX Nov 20 2020 21.5 Puts @ 0.02 Credit but lowered the strike 0.50.

I now only have strike 19.0 and 19.50 puts to worry about for tomorrow.
A covering trade @ 0.01 or an expiration on both would be welcome.

SPY Roll

Bought to close 1 SPY 11/11/2002 348.0 Call / Sold 1 SPY 11/16/349.0 Call @ 0.26 Credit.
Bumped the strike a point. Sold against a long SPY Dec 355 call

VXX Puts

Some early rolls that I should have done yesterday with the stock higher.

Bringing in $Cash and buying more time

Bought to close to Close VXX Nov 13 2020 22.5 Puts / Sold to Open VXX Nov 20 2020 22.5 Puts @ 0.30 Credit.

Bought to close to Close VXX Nov 13 2020 21.0 Puts / Sold to Open VXX Nov 20 2020 20.5 Puts @ 0.02 Credit but lowered the strike 0.50.
Bought to close to Close VXX Nov 13 2020 20.5 Puts / Sold to Open VXX Nov 20 2020 20.0 Puts @ 0.04 Credit but lowered the strike 0.50.

VXX Calls

I was too cautious and only did 1 each hoping to add if it ran a bit more above the 20.30 high for the day.
Offsetting a large short put position.
Sold VXX Nov 13 2020 23 Call Limit at $0.31
Sold VXX Nov 13 2020 23.5 Call Limit at $0.26
Sold VXX Nov 13 2020 24 Call Limit at $0.21

SLB Covered Calls

Sold SLB 12/04/2020 20.0 Covered Calls @ 0.43

WBA

Up 9% today.
Above my cost and at the highest price since early August.
Next dividend date is 11/18

SLB

Sold to open SLB 11/13/2020 18.50 Covered Calls @ 0.19.
Sold to open SLB 11/13/2020 19.00 Covered Calls @ 0.13.
Sold to open SLB 11/13/2020 20.00 Covered Calls @ 0.12.

AAL

Sold to open AAL 11/13/2020 17.00 Covered Calls @ 0.17.
Sold to open AAL 11/20/2020 17.00 Covered Calls @ 0.30.

Markets

Nice day to have leftover “lottery ticket” long calls from old diagonal spreads.
Will try and exit as many as I can.

BIIB

Expert panel votes down Biogen’s Alzheimer’s drug, and rebukes the FDA in the process

https://www.fool.com/investing/2020/11/06/fda-committee-votes-strongly-against-biogens-alzhe/

Wil it return to where the rally started from?
chart (2)

OptionsExpiration

EXPIRED TODAY:
SLB 11/06/2020 17.50 Covered Calls
SLB 11/06/2020 18.00 Covered Calls
VXX 11/06/2020 27.50 Diagonal Calls
VXX 11/06/2020 29.00 Diagonal Calls
VXX 11/06/2020 30.00 Diagonal Calls
VXX 11/06/2020 31.00 Diagonal Calls
VXX 11/06/2020 32.0/45.0 Bear Call Spreads
VXX 11/06/2020 33.0/50.0 Bear Call Spread
WBA 11/06/2020 38.00 Covered Call
WFC 11/06/2020 24.00 Covered Call

BIIB 11/06/2020 220.0 Diagonal Put – Yeah !!

Assignments:
None

VXX New Diagonals

Bought to open Jan 15 2021 14.0 Puts / Sold Nov 13 2020 19.50 Puts @ 0.05 Credit.
Bought to open Jan 15 2021 13.0 Puts / Sold Nov 13 2020 19.0 Puts @ 0.05 Credit.
VXX is at the low of the week @ 20.51

BTW – the strike prices are getting much closer together so the margin on the spreads is pretty small.

BIIB

@adamfeuerstein 2m
$BIIB – FDA panel votes against aducanumab efficacy for the “positive” EMERGE study.

1 Yes 8 No 2 Uncertain

This was the best data Biogen had.

More votes to come.

GILD

Decided to roll this instead of taking assignment. The EX Dividend date is not until December so no need to commit the cash just yet.
Bought to close GILD 11/06/2020 60.0 Put / Sold GILD 12/04/2020 58.0 Put @ 0.25 Credit and lowered the short strike 2 points.
Made money on the short 60 put too.

VXX – one last roll

Bringing in $CASH. Buying more time.

Bought to close VXX 11/06/2020 21.0 Diagonal Puts / Sold VXX 11/13/2020 19.50 Diagonal Puts @ 0.01 Credit plus 1.50 points better on the short strike..

When VXX was 27.00 on Monday I never would have believed I would have to roll this position.

Done with VXX rolls for this week.

And I’m just waiting for my remaining VXX Diagonal Calls to expire in an hour.

ADS Roll

Bought to close ADS 11/06/2020 55.0 Calls / Sold ADS 11/13/220 55.0 Calls @ 0.35 Credit

KSS Covered Calls

Bought to close KSS 11/06/2020 23.0 Covered Calls @ 0.01. It won’t trade any lower. Sold last Friday @ 0.43.

Replaced them with KSS 11/13/2020 23.50 Covered Calls @ 0.26

WBA Covered Calls

Bought to close WBA 11/06/2020 37.50 Covered Calls / Sold WBA 11/13/2020 38.50 Covered Calls @ 0.08 Credit plus a point higher on the option strike price.

SPY Roll

Bought to close 1 SPY Nov 06 2020 345 Diagonal Call / Sold to Open 1 SPY Nov 11 2020 348 Call @ 0.02 Net Credit plus a 3 point bump in the short strike.
SPY @ 349.59

VXX – more rolls

Bringing in $CASH. Buying more time

Bought to close VXX 11/06/2020 22.0 Diagonal Puts / Sold VXX 11/13/2020 21.0 Diagonal Puts @ 0.04 Credit.
Bought to close VXX 11/06/2020 21.5 Diagonal Puts / Sold VXX 11/13/2020 20.5 Diagonal Puts @ 0.12 Credit.
Dropped the strikes a full point.

I’m still holding out hope that my 21.0 puts can expire

VXX

Bought to close VXX 11/06/2020 28.0 Diagonal Calls @ 0.01 to release some margin. They won’t trade any lower.
Sold last Friday on a rollup @ 1.48.
Bought to close VXX 11/06/2020 26.50 Diagonal Calls @ 0.01 to release some more margin. They won’t trade any lower.
Sold last Friday on a rollup @ 2.18

Rolled some Puts down for next week:
Bought to close VXX 11/06/2020 23.0 Diagonal Puts / Sold VXX 11/13/2020 22.50 Diagonal Puts @ 0.17 Credit.
Paired off with long Jan strike 15 and 16 puts.
Bought to close VXX 11/06/2020 22.50 Diagonal Puts / Sold VXX 11/13/2020 22.0 Diagonal Puts @ 0.22 Credit.
Paired off with long Jan strike 15, 16 and 17 puts.

VIX futures

Looks much different than the last few months

vix

VIX collapse continues

Down another 8.5% pre-market

Headline of the day

Google Searches For “Liquor Store Near Me” Hits All-Time High Amid Election Anxiety

SPY Roll

Bought to close 1 SPY Nov 04 2020 338 Diagonal Call / Sold to Open SPY Nov 09 2020 340 Diagonal Call at $0.32 Credit plus two points higher on the short strike

SPY = 346.61

VIX collapse

down 13% pre-market

BIIB Diagonal Put

Bought to Open 1 BIIB Jan 15 2021 180 Put / Sold to Open 1 BIIB Nov 06 2020 220 Put @ $3.00 Net Credit.

Hoping the 3 year low holds for 3 more days . BIIB is at 246

chart (2)

BTW: The put premium for Friday was $6.70

VXX

Playing for an eventual VIX collapse back into the 20’s and a return of VXX Contango.
Bought to open VXX 06/18/2021 7.0 Puts / Sold to open VXX 11/06/2020 21.50 Puts @ 0.08 Credit.
Bought to open VXX 06/18/2021 8.0 Puts / Sold to open VXX 11/06/2020 21.50 Puts @ 0.03 Credit.
I don’t think I have to worry about this week but the short can be easily rolled down is VXX drops from 25 to 21.50 by Friday.

btw: my short VXX 33.00 diagonal calls for this week are still trading @ 0.51 with VXX at 24.60.
Insane premium.
But that is why I’m loading up on the put side.

SPY

Sold 1 SPY 11/04/2020 342.0 Diagonal Call @ 1.32.
Hedged with an existing long December 355 call. #DoubleDip
Easily rollable if I miscalculated tomorrow’s move.