There must be a good options play here

“Why Food Processing Company Archer-Daniels-Midland Shares Are Sinking Today

Archer-Daniels-Midland Company (ADM.NaE) shares are trading lower after the company placed its CFO on administrative leave and updated its FY23 outlook on Sunday.

Also, the company has appointed Ismael Roig as its interim Chief Financial Officer.

The company placed Vikram Luthar on leave due to an investigation studying accounting practices and procedures related to its nutrition segment.

ADM’s investigation was initiated in response to the receipt of a voluntary document request by the U.S. Securities and Exchange Commission (SEC). ADM said it is cooperating with the SEC.

Terry Crews, Lead Director, said, “Pending the outcome of the investigation, the Board determined that it was advisable to place Mr. Luthar on administrative leave. The Board will continue to work in close coordination with ADM’s advisors to identify the best path forward and ensure ADM’s processes align with financial governance best practices.”

FY23 Outlook: The company now expects adjusted EPS of above $6.90 vs. consensus of $7.28.

Also, Archer-Daniels-Midland (ADM.NaE) expects to report fourth quarter and FY23 operating profit for its AS&O and Carbohydrate Solutions reporting segments in line with previous indications provided in the third quarter 2023 earnings call.

Due to the ongoing investigation, the company has withdrawn its outlook for the nutrition segment.

Also, Archer-Daniels-Midland (ADM.NaE) expects to delay its fourth-quarter earnings release and the filing of its Annual Report on Form 10-K.

Price Action: ADM shares are down 20.2% at $54.44 on the last check Monday.”

Bought VXX Jan 17 2025 5.0 Puts at $0.10.
I expect to hold these through the next reverse split

1 SPY 01/18/2024 470.00 Put
1 SPY 01/18/2024 471.00 Put
SPY 01/18/2024 472.00 Puts

Added a tiny bit of FBTC at $36.00
Added a tiny bit of IBIT at $24.00

1 SPY 473 Call
SPY 471 Puts

1 SPY Jan 16 2024 472.00 Put

Added a tiny bit of FBTC at $37.00

SPY 480 and 477 Calls
SPY 473 Put

Dipping my little toe in
Bought a tiny bit of FBTC at $40, $39 and $38.00.
Scaling in slowly

Bought a tiny bit of IBIT at $26 and $25.

Options should be available eventually.

1 SPY Jan 03 2024 469 Call
1 SPY Jan 03 2024 471 Call

SPY Puts
Sold 1 SPY Jan 08 2024 465 Put at $0.65
Sold 1 SPY Jan 08 2024 466 Put at $0.81
Sold 1 SPY Jan 09 2024 464 Put at $0.84
Paired with SPY Bear Call Spreads already on the books

SPY Expiration:
SPY 481/474 Bear Call Spread
SPY 481/473 Bear Call Spreads

Rolled this week’s short 30 Puts to next week’s 29 Puts at $0.40 Credit and picked up a point on the short strike
First good news on this one in a while

SPY Expiration
SPY Dec 20 2023 481/475 Bear Call Spread

Does anyone know when the SPY ex-div date is???

A new low below 12.

Market to the moon

Rolled deep in the money BOIL puts out a week for decent credits and rolled down the following:
Rolled BOIL 32 Puts to BOIL 31 Puts for $0.47 Credit
Rolled BOIL 31 Puts to BOIL 29 Puts for $0.56 Credit
Rolled 1 BOIL 30 Put to 1 BOIL 29 Put for $0.90 Credit

SPY Dec 05 2023 457 Calls
SPY Dec 05 2023 458 Call
SPY Dec 05 2023 459 Call

Sold SPY Dec 01 2023 460.0 Diagonal Calls at $0.12, $0.20 and $0.29
Crazy strong market

“Sorry, we have run into a small problem.
Don’t worry, it’s nothing you did, just a minor system error on our end.​ We’re working on it and hope to have it resolved soon.​​”

Bought to close BOIL Dec 01 2023 34 Puts at $0.05

Sold SPY Nov 29 2023 459 Calls at $0.23 and $0.35

Sold 1 COF Dec 01 2023 111 Call at $0.45
Sold 1 BOIL Dec 01 2023 34 Put at $0.50
Sold 1 ENPH Dec 01 2023 107 Call at $0.52
Sold 1 EXPE Dec 01 2023 140 Call at $0.76

SPY Nov 28 2023 456.0 Calls sold yesterday at $0.34, $0.35, $0.37 and $0.42
1 SPY Nov 28 2023 457.0 Call sold yesterday at $0.17
1 SPY Nov 28 2023 449/452 Bull Put spread sold at $0.13 Credit

Another 52-week low in the VIX today
NO FEAR in this market

SPY Nov 27 2023 456 Calls sold earlier today

All high probability of expiration

BMY Dec 01 2023 48 Put at $0.08
MRK Dec 01 2023 98 Put at $0.09
BOIL Dec 01 2023 31 Put at $0.10
HRL Dec 01 2023 30 Put at $0.10
NTAP Dec 01 2023 70 Put at $0.25
DLTR Dec 01 2023 99 Put at $0.33

1 CMA Nov 24 2023 43 Put
1 AAP Nov 24 2023 47 Put
1 CVS Nov 24 2023 67 Put
1 USB Nov 24 2023 36.5 Put
1 HPQ Nov 24 2023 25.5 Put
1 JWN Nov 24 2023 12.5 Put
1 CVS Nov 24 2023 73.0 Covered Call
1 NVDA Nov 24 2023 445/450/545/550 Short Iron Condor
1 SPY Nov 24 2023 457 Diagonal Call

Assignments:
DG 118 Covered Calls

Sold 1 CMA Nov 24 2023 43 Put at $0.15
Sold 1 AAP Nov 24 2023 47 Put at $0.15
Sold 1 CVS Nov 24 2023 67 Put at $0.19
Sold 1 USB Nov 24 2023 36.5 at $0.20
Sold 1 HPQ Nov 24 2023 25.5 Put at $0.11

CVS 73 Covered Calls
LNC 25 Covered Call
UVXY 14 Covered Calls
WBA 22.5 Covered Calls

Bear Call Spreads expiring:
UVXY
VXX
WM
WMT
AAP
COF
PENN
Condor expiring:
NVDA

Assignments
TGT Covered Call
TSN Covered Cal
Both reversing old put assignments

Expired Friday:
DVN 42.5 Put
EBAY 36.0 Put
GM 26.0 Put
MOS 31.0 Put
TPR 24.5 Put

New Positions for this week:
AAP 46.0 Put at $0.57
BBWI 25.0 Put at $0.20
TGT 98.0 Put at $1.09
Strikes are below 52-Week Lows