WFC Covered Call Roll

Rolling this week’s ladder position out 3 weeks to keep the ladder going
Bought to Close WFC Dec 24 2020 29 Calls / Sold to Open WFC Jan 15 2021 30 Calls @ 0.19 Credit plus an extra point on the strike price.

ADS Rollup

Bought to close ADS Dec 24 2020 72.5 Calls / Sold to Open ADS Dec 31 2020 75 Calls at $0.37 Credit and I moved the strike price up $2.50.
The stock is up 6% today on a ratings upgrade.

VXX Contango Specials

Bought to open VXX Jun 18 2021 7 Puts / Sold to Open VXX Dec 31 2020 16.0 Puts at $0.04 Credit.
Bought to open VXX Jun 18 2021 8 Puts / Sold to Open VXX Dec 31 2020 16.5 Puts at $0.08 Credit.

Short DTE = 8
Long DTE = 177

VXX = 17.51
#VXXContango

VXX Put Rolls

Bought to close VXX Dec 24 2020 20.5 Puts / Sold to Open VXX Dec 31 2020 20.5 Puts at $0.20 Credit.
Bought to close VXX Dec 24 2020 20.0 Puts / Sold to Open VXX Dec 31 2020 20.0 Puts at $0.23 Credit.
Done with this week’s VXX Trades

CINF

Sold 1 CINF 01/15/2021 90.0 Diagonal Call @ 1.10. Sold against a March 95 long call already held.
An unexplained 4 point explosion this morning in the stock.

SPY New Diagonal

Still trying to make back the short dividend loss from Monday’s early assignment.
Bought to Open 1 SPY Jan 29 2021 385 Call Net Credit / Sold to Open 1 SPY Dec 24 2020 367 Call at $0.22 Credit.

I have both a 370 and 372 short call expiring tomorrow.

SLB Covered Roll

An early roll because Thursday may be an illiquid day to trade.
Bought to close SLB Dec 24 2020 20.5 Calls / Sold to Open SLB Dec 31 2020 20.5 Calls @ $0.20 Credit with SLB at 21.37.

VIX

https://www.zerohedge.com/markets/vix-curve-suggest-caution-virus-risks-mount

On Monday, the VIX explosion unleashed a powerful move for protection, soaring to as high as $31.46, having been range-bound between $26-$20 for much of November and December. The cause was primarily due to a virus mutation in the UK, raising concern that the central assumption of exceptional economic growth next year could turn out wrong.

IFR News points out a “kink” in the VIX futures curve for February.

“There is almost a kink on the VIX futures curve for February with the curve between February and July a saucer shape that is flat.”

VXX Diagonal Calls

Sold VXX 12/31/2020 23.0 Calls @ 0.23.
Paired off with the Puts I rolled earlier today

VXX Put Roll

Looks like this week’s VIX spike has run out of gas, so rolling these early.
Bought to close VXX Dec 24 2020 22.5 Puts / Sold to Open VXX Dec 31 2020 22.5 Puts at $0.16 Credit.
Bought to close VXX Dec 24 2020 21.5 Puts / Sold to Open VXX Dec 31 2020 21.5 Puts at $0.20 Credit.

GILD Put Ladder

Starting with Diagonal Spreads. Would take the stock at the short strike (or roll a few times first) and hold the protective put as cheap insurance.
(Also the spread requirements in a retirement account are much lower than straight short puts)

Bought to Open GILD Mar 19 2021 45.0 Put/ Sold to Open GILD Dec 24 2020 57.0 Put at $0.03 Credit.
Bought to Open GILD Mar 19 2021 45.0 Put / Sold to Open GILD Dec 31 2020 56.50 Put at $0.12 Credit.

GILD YTD Low = 57.03 (set today)
Dividend % = 4.65%
#FallingKnife

OptionsExpiration

SPY 12/21/2020 371.0 Diagonal Call

VXX small sales

Sold VXX Dec 24 2020 21.00 Calls at $0.21
Sold VXX Dec 24 2020 22.00 Calls at $0.15
Sold VXX Dec 24 2020 22.50 Calls at $0.12

VXX= 18.50

SPY new Diagonal

Bought to Open SPY Jan 25 2021 385.0 Call / Sold to Open SPY Dec 28 2020 370.0 Call @ 0.31 Credit.
I have a short SPY 371.0 call expiring today as well.

SPY

Sold to Open 1 SPY Dec 23 2020 370.0 Call at $1.15.
This replaces an SPY short call that expired Friday.

I also have a short SPY 371.0 Call that I sold Friday at $1.03 about to go to a penny that is expiring today.

INTC Put Ladder

Starting with Diagonal Spreads. Would take the stock at the short strike and hold the protective put as cheap insurance.
(Also the spread requirements in a retirement account are much lower than straight short puts)

Bought to Open INTC Mar 19 2021 22.5 Puts/ Sold to Open INTC Dec 24 2020 43.5 Puts at $0.02 Credit.
Bought to Open INTC Mar 19 2021 27.5 Puts / Sold to Open INTC Dec 31 2020 43.5 Puts at $0.12 Credit.

INTC YTD Low = 43.61

GILD INTC

Back down and testing their YTD lows
All my earlier short puts have expired
#FallingKnife

More VXX Calls

Bought to open VXX Jan 15 2021 40.0 Calls / Sold to Open VXX Dec 24 2020 20.0 Calls @ 0.07 Credit
Bought to open VXX Jan 15 2021 42.0 Calls / Sold to Open VXX Dec 24 2020 20.50 Calls @ 0.07 Credit.
Bought to open VXX Jan 15 2021 41.0 Calls / Sold to Open VXX Dec 24 2020 20.50 Calls @ 0.07 Credit.
I still have more short Puts to pair up against.

WFC Covered Ladder

Extended my Covered Call Ladder out 3 weeks with the expiration of the strike 30.0 Covered Calls on Friday.
Sold WFC 01/08/2021 30.50 Covered Calls @ 0.62

SQQQ Covered Call

Sold 1 SQQQ 12/24/2020 17.50 Covered Call @ 0.15.

WBA Covered Call

Sold to Open 1 WBA Jan 08 2021 42.0 Covered Call @ $1.15.
Replaces a covered Call that expired Friday

VXX Calls

Bought to open VXX Jan 15 2021 45.0 Calls / Sold to Open VXX Dec 24 2020 20.0 Calls @ 0.15 Credit
Bought to open VXX Jan 15 2021 44.0 Calls / Sold to Open VXX Dec 24 2020 20.0 Calls @ 0.13 Credit.
Paired off with short 20.0 Diagonal Put spreads already in the account.

VIX

Going to be a fun day.

Glad to be coming into this week with no VXX short Calls

OptionsExpiration

EXPIRED:
CINF 12/18/2020 85.0/90.0 Bear Call Spread
CINF 12/18/2020 85.0 Diagonal Call
MRO 12/18/2020 7.0 Covered Calls
SPY 12/18/2020 371.0 Call
SQQQ 12/18/2020 6.00(adj) Covered Calls
VXX 12/18/2020 23.0/90.0 Bear Call Spread
VXX 12/18/2020 22.5/80.0 Bear Call Spread
VXX 12/18/2020 22.0/70.0 Bear Call Spread
VXX 12/18/2020 21.5/65.0 Bear Call Spread
VXX 12/18/2020 21.0/60.0 Bear Call Spread
VXX 12/18/2020 20.5/50.0 Bear Call Spread
VXX 12/18/2020 20.0 Diagonal Calls
VXX 12/18/2020 19.0 Diagonal Calls
VXX 12/18/2020 18.0 Diagonal Calls
WBA 12/18/2020 41.0 Covered Call
WFC 12/18/2020 30.0 Covered Calls

T 12/18/2020 26.0 Short Put
VXX 12/18/2020 16.5 Diagonal Puts

ASSIGNMENTS:
None

On the VXX BCS’s that expired, the longs were bought in late Sept/Early Oct. The short side calls were sold just last week and were only the latest of the calls written against those longs.
Multiple #DoubleDip Trades

VXX Contango Special

#VXXContango Special
Bought to open VXX Jan 21 2022 5 Puts / Sold to Open VXX Dec 24 2020 16.5 Puts at $0.07 Credit
Short DTE = 6
Long DTE = 399

SPY

Friggin’ Dividend
ASSIGNED as of 12/17/2020 CALL (SPY) SPDR S&P 500 ETF DEC 18 20 $360
ASSIGNED as of 12/17/2020 CALL (SPY) SPDR S&P500 ETF DEC 21 20 $341
ASSIGNED as of 12/17/2020 CALL (SPY) SPDR S&P500 ETF DEC 23 20 $350
Covered the short stock @ 369, 368.50 and 368.
Sold new calls
Sold 1 SPY 12/18/2020 371.0 Call @ 0.32 (expires today)
Sold 1 SPY 12/21/2020 371.0 Call @ 1.03 (expires Monday)
Sold 1 SPY 12/23/2020 372.0 Call @ 1.33 (expires Wednesday)

TSLA

Seems like institutions are front running the TSLA SP500 inclusion.
Up big in a down market.
New All-time High I believe

WBA Covered Call Roll

Rolled the other half of the 40.50 covered calls with WBA @ 40.98
Bought to close WBA Dec 18 2020 40.5 Call / Sold to Open WBA Dec 31 2020 41.0 Call at $0.48 Credit and added 0.50 to the strike price.

VXX Put Rolls

Bought to close to Close VXX Dec 18 2020 21.5 Puts / Sold to Open VXX Dec 24 2020 21.5 Puts @ 0.10 Credit.
Bought to close to Close VXX Dec 18 2020 20.5 Puts / Sold to Open VXX Dec 24 2020 20.5 Puts @ 0.15 Credit.

TQQQ – Calendar Condor

#BoredToDeathTrade – did a 2nd one
Buy to Open 1 TQQQ Jan 15 2021 100 Put at $0.77
Sell to Open 1 TQQQ Dec 24 2020 155 Put $1.00
Sell to Open 1 TQQQ Dec 24 2020 185 Call at $1.76
Buy to Open 1 TQQQ Jan 15 2021 220 Call at $1.14
Total Credit 0.85

VXX Puts

#VXXContango Special
Buy to Open VXX Jun 18 2021 7 Puts / Sell to Open VXX Dec 18 2020 16.5 Puts $0.04 Credit.
Short = 1 DTE
Long = 183 DTE

TQQQ – Calendar Condor

#BoredToDeathTrade
Buy to Open 1 TQQQ Jan 15 2021 100 Put at $0.87
Sell to Open 1 TQQQ Dec 24 2020 155 Put $1.08
Sell to Open 1 TQQQ Dec 24 2020 185 Call at $1.64
Buy to Open 1 TQQQ Jan 15 2021 220 Call at $1.10
Total Credit 0.75

VXX

Just before the Fed announcement in case things got crazy:
Bought to Open VXX Jan 15 2021 41.0 Calls / Sold to Open VXX Dec 18 2020 18.0 Calls @ 0.02 Credit.
The short is very easy to roll up but I don’t think I’ll need to.
I do expect I’ll have some free longs by Friday that I can write against several more times.

WBA Roll

Rolled half my covered calls in this account. Letting the rest run until Friday so I can possibly get my highest cost lot called away.
Bought to close WBA Dec 18 2020 40.5 Calls / Sold to Open WBA Dec 24 2020 41.0 Calls @ 0.13 Credit.
Raised the strike price as well.

Markets

VXX Puts

Early Roll to next week
Bought to close to Close VXX Dec 18 2020 22.5 Puts / Sold to Open VXX Dec 24 2020 22.5 Puts @ 0.15 Credit.

ADS early Rollup

Bought to close to Close ADS Dec 18 2020 70.5 Calls / Sold to Open ADS Dec 24 2020 72.5 Calls @ 0.10 Credit but bumped the strike up 2 points, and above the current stock price.
Illiquid options make this one tough to trade.
I’ll be looking to exit anything in this stock as soon as it makes sense.

GILD

Looks like the stock is headed back down to test the Yearly low. #FallingKnife
I’ll be looking at puts to sell.

OptionsExpiration

EXPIRED:
SPY 12/11/2020 370/380 Bear Call Spread
VXX 12/11/2020 19.50 Diagonal Calls
VXX 12/11/2020 20.00 Diagonal Calls
VXX 12/11/2020 20.50 Diagonal Calls
VXX 12/11/2020 17.00 Diagonal Puts

ASSIGNMENTS:
AAL 12/11/2020 15.00 Covered Call (Stock cost 9.86 on the Covid19 dive this spring)

VXX Puts and Calls

Bought to close VXX 12/11/2020 17.50 Diagonal Puts @ 0.01. They won’t trade any lower.
This was a pretty big position so I’m happy to pay the penny. Sold last Friday on a rolldown @ 0.95.

Also closed VXX Dec 11 2020 18 Calls at $0.08 (sold @ 0.17 & at 0.23)
Replaced them with short VXX Dec 18 2020 23 Calls @ 0.20 for a 0.12 Credit Plus 5 BIG points higher on the short strike.
(I wish Put rolls were this easy for just one more week.)

VIX

The VIX is all over the map today
Above 25 in the pre-market
Then down under 23 early
Then above 25 midday
Now down to 23 again.
Whew!!

VXX – creating straddles

I’m already short the puts for next week so I’m adding the calls to create Iron Condor Calendar spreads
Sold VXX 12/18/2020 21.0 Diagonal Calls @ 0.35
Sold VXX 12/18/2020 21.5 Diagonal Calls @ 0.32
Sold VXX 12/18/2020 22.0 Diagonal Calls @ 0.29

VXX Contango special result

11/24 Bought to Open VXX Jun 18 2021 8.0 Puts / Sold VXX Dec 04 2020 17.0 Puts @ 0.06 Credit.
12/04 Bought to close VXX Dec 04 2020 17 Puts at $0.02. Rolled to VXX Dec 11 2020 16 Puts at $0.10.
Today covered the VXX Dec 11 2020 16 Puts at $0.01.
They won’t trade any lower.

Adding the now “Free” VXX June 2021 puts to my growing portfolio of these with 190 Days to expiration (DTE)

Musk Inc.

Unmanned SpaceX Starship Flight Test Ends In Massive Fireball

TSLA – a profitable 2 days

A #CreditCredit trade

On Monday I Bought to open TSLA Jan 15 2021 1,000 Call / Sold to open TSLA Dec 11 2020 670 Call @ 0.67 Credit.

Closed both sides this afternoon at 7.52 Credit. Releases $33k spread requirement 2 DAYS EARLY.

Surprisingly I made more on the long side than I made on the short side even though the stock is down.

VXX Calls

Bought to open VXX Jan 15 2021 48.0 Calls / Sold to Open VXX Dec 11 2020 18.0 Calls @ 0.02 Credit with VXX at 17.00 and with less than 2 1/2 days until the expiration of the short.

With all the short puts I have, I would welcome a move to the short strike by Friday. The 5-day high on VXX is 17.57 though.

VXX Weekly Put rolls

Bought to Close VXX Dec 11 2020 22.5 Puts / Sold to Open VXX Dec 18 2020 22.5 Puts at $0.13 Credit.
Bought to Close VXX Dec 11 2020 21.5 Puts / Sold to Open VXX Dec 18 2020 21.5 Puts at $0.17 Credit.
Bought to Close VXX Dec 11 2020 20.5 Puts / Sold to Open VXX Dec 18 2020 20.5 Puts at $0.22 Credit.
Squeezed all the time premium out of this week’s positions.
Someday the market will correct.

WBA early Rollup

Bought to close WBA Dec 11 2020 40.5 Call / Sold to Open WBA Dec 18 2020 41.0 Call @ $0.12 Credit.
Finally worked the covered call strike up above my highest stock cost of 40.93 from 08/17/2020

SPY

Rolling my long up and out
Sold to Close SPY Dec 18 2020 355 Calls / Bought to Open SPY Jan 15 2021 370 Calls @ $7.43 Credit.
Taking a large gain on the December long position and getting extra cash while maintaining my hedge on near term shorts.

WFC Call ladder rollup

Bought to Close WFC Dec 11 2020 28 Calls / Sold to Open WFC Dec 31 2020 29 Calls at $0.14 Credit.
Did this a bit early in the week because of the sharp opening down.

Markets

Stretched pretty thin up here

positioning stretched

panic-euphoria

TSLA flier

Bought to open TSLA Jan 15 2021 1,000 Call / Sold to open TSLA Dec 11 2020 670 Call @ 0.67 Credit.

Hoping to pick up a free long call going into TSLA being added to the S&P500 on the 21st.

OptionsExpiration

EXPIRED:
VXX 12/04/2020 18.50 Diagonal Calls
VXX 12/04/2020 20.00 Diagonal Calls
VXX 12/04/2020 20.50 Diagonal Calls
VXX 12/04/2020 21.00 Diagonal Calls
VXX 12/04/2020 21.50 Diagonal Calls

GILD 12/04/2020 58.0 Short Put
INTC 12/04/2020 45.0 Short Put

ASSIGNMENTS:
INTC 12/04/2020 47.50 Covered Call (Stock cost 45.51 plus got the last dividend)

VXX Puts – last roll

Bought to close VXX Dec 04 2020 17 Puts Net Credit at $0.02.
Sold these on 11/24, 11/25, and 11/27 at 0.28, 0.27 and 0.44.

Replaced them with an equal number of short VXX Dec 11 2020 16 Puts at $0.10.

Done for the day.

SPY Rollup

Bought to close to Close SPY Dec 04 2020 367.0 Call / Sold to Open SPY Dec 11 2020 370.0 Call at $0.25 Credit plus 3 more points on the short strike and above the all-time high set earlier today.

VXX Weekly Put roll

Bought to Close VXX Dec 04 2020 17.5 Puts / Sold to Open VXX Dec 11 2020 17.0 Puts at $0.12 Credit plus a 0.50 lower strike.
The 17.50 short puts were the short side of a #VXXContango special from 11/23.

That just leaves the Dec 04 2020 17.0 Puts left to cover. They are currently out of the money with VXX at 17.10 but I don’t think VXX stays up here into the close.

But at least I have ALL the short 12/04/2020 calls from my VXX strangles expiring today.

VXX Weekly Put roll

Bought to Close VXX Dec 04 2020 18 Puts / Sold to Open VXX Dec 11 2020 17.5 Puts at $0.02 Credit
Sold the 18.0 puts at $1.05 while rolling down the 18.50 puts for a 0.19 credit last Friday and covered those this morning at $0.93.
So in 2 weekly rolls I’ve lowered the short strike a full point while still taking in a bit more $CASH

VXX Puts

Bought to close Buy to Close VXX Dec 04 2020 16.5 Puts at $0.01. They won’t trade any lower.

Part of a #VXXContango special from 11/24.
I now own some VXX June 7.0 puts for free.

VXX Diagonal Calls

Bought to Open VXX Mar 19 2021 55 Calls / Sold to Open VXX Dec 18 2020 20 Calls $0.03 Credit.

With the long calls out in March, there will be multiple opportunities to sell against it.

WBA

We don’t need no stinkin’ badges

…… I mean Amazon drugs

wba 12-03-2020

VXX early rolls

Bought to Close VXX Dec 04 2020 22.5 Puts / Sold to Open VXX Dec 11 2020 22.5 Puts at $0.07 Credit.
Bought to Close VXX Dec 04 2020 21.5 Puts / Sold to Open VXX Dec 11 2020 21.5 Puts at $0.12 Credit.
Bought to Close VXX Dec 04 2020 20.5 Puts / Sold to Open VXX Dec 11 2020 20.5 Puts at $0.18 Credit.
Bought to Close VXX Dec 04 2020 20.0 Puts / Sold to Open VXX Dec 11 2020 20.0 Puts at $0.19 Credit.

Bringing in some $CASH and buying more time.

Is this market EVER going to pull back???

VIX

WBA

Since March the 50 Day MA has acted as resistance. Now the stock is above the 50Day. Hopefully it will now act as support.

wba 12-02-20

VXX Contango special result

Bought to close all of my VXX Dec 04 2020 16.00 Diagonal puts @ 0.01. They won’t trade any lower.

On 11/27 I sold these while buying VXX Jun 21 2021 6.0 Puts @ 0.03 Credit. So now I’m left with more “free” long puts with 198 days until expiration.

Normal Contango drift down in VXX should take care of the long position.
Or consider it a lottery ticket.

Will repeat this kind of trade for next week too.

SPY Call Roll

Bought to Close 1 SPY Dec 02 2020 358 Call / Sold to Open 1 SPY Dec 09 2020 359 Call @ 0.45 Credit plus a 1 point higher strike.

At some point I’m going to have to roll my long Dec 18 2020 355.0 calls forward.

VXX Diagonal Call spreads

To balance out a large number of short put spreads, turning them into Condors.
Bought to Open VXX Jan 15 2021 43 Calls / Sold to Open VXX Dec 11 2020 19.5 Calls at $0.07 Credit.
Bought to Open VXX Jan 15 2021 45 Calls / Sold to Open VXX Dec 11 2020 20 Calls at $0.08 Credit.
Bought to Open VXX Jan 15 2021 50 Calls / Sold to Open VXX Dec 11 2020 20.5 Calls at $0.07 Credit.

Bought to Open VXX Jan 15 2021 55 Calls / Sold to Open VXX Dec 04 2020 18.5 Calls at $0.02 Credit.

Markets

2020-11-25_9-23-05_1

SPY Bear Diagonal Spread

Sold 1 SPY 12/04/2020 367.0 Call / Bought 1 SPY 12/14/2020 380.0 Call @ 1.72 Credit.
SPY at 365.80

WBA early roll

Bought to close WBA 12/04/2020 40.50 Covered Calls @ 0.10. Sold these on 11/27 @ 0.29.
Replaced them with short WBA 11/11/2020 40.50 Covered Calls @ 0.32.
WBA is at 38.90

INTC

Running in a weak market up to 48.00
The last rung of my INTC 45 put ladder expires Friday

Snow

Off topic
First snow of the season in the Ohio valley today.
Fires and hot chocolate tonight

VXX Diagonal Calls

Sold all the following on the move of VXX to 18 :
VXX Dec 04 2020 20.0 Calls at $0.23
VXX Dec 04 2020 20.5 Calls at $0.19
VXX Dec 04 2020 21.0 Calls at $0.15
Replaces similar calls that expired Friday.
#DoubleDip

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

INTC 11/27/2020 45.0 Short Put
GILD 11/27/2020 58.00 Short Put
T 11/27/2020 26.00 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.