Closed my last current short position
Bought to close TSLA Feb 11 2022 930.0 Call at $0.14. Sold last week on a roll at 29.83
Sold to Close a very old, fully paid for long position used as a hedge on several short calls
Sold 1 TSLA Feb 18 2022 1,300 Call at $0.09. It was going to expire worthless anyway.
Bought to close 1 LABU Feb 11 2022 21.0 Put at $0.58. Sold last week on a roll at $4.30
Replaced it with 1 short LABU Feb 18 2022 18.0 Put at $0.60 plus gained 3 points on the short strike
Started a tiny new position in APD at $249.79
Started a tiny new position in LUMN at $10.74
Started a tiny new position in ZBRA at $440.00
Closed out my highest cost lot in WU at $19.30 for a small gain. I bought it a total of 4 times all the way down to $16.00 in November 2021.
#SP500 #FallingKnife
Added a tiny bit of Dow component and #SP500 stock 3M at $160.00
#FallingKnife
Bought to close 1 TNA Feb 11 2022 66.0 Put at $3.39. Sold on a roll last week at $6.73
Replaced it with a short TNA Feb 18 2022 63.0 Put at $3.46 plus 3 points lower on the short strike.
Just taking a little risk off on the put side. If the market stops falling, VXX will collapse again.
Bought to close VXX Feb 11 2022 20.0 Puts at $0.44. Sold these on Monday at $0.50.
I have lots of short puts left at lower strikes for this week .
Bought to close RIVN Feb 11 2022 73.0 Puts at $6.10. Sold these on a roll last Friday at $12.25
Replaced them with short RIVN Feb 18 2022 71.0 Puts at $6.17 and a 2 point lower strike price.
Sold 1 RIVN Feb 11 2022 68.0 Call at $1.25
Sold 1 RIVN Feb 11 2022 69.0 Call at $1.47
Sold LABU Feb 18 2022 25.0 Covered Calls at $0.55 and $0.60
Sold LABU Feb 18 2022 26.0 Covered Calls at $0.35, $0.40 and $0.45
Sold LABU Feb 18 2022 27.0 Covered Call at $0.25 and $0.30
All my long stock is covered for next week.
Sold VXX Feb 11 2022 20.5 Calls at $0.31
Sold TQQQ Feb 11 2022 55.0 Puts at $0.51
Sold TQQQ Feb 11 2022 54.0 Puts at $0.42 and $0.44
Low trade in TQQQ for this week was about 55.85
Today’s low so far is 59.22
Couldn’t get anything from this week’s 25 calls so switched to next week.
Sold 1 LABU Feb 18 2022 25.0 Covered Call at $0.50
Bought to open LABU Feb 25 2022 30.0 Calls at $0.12
Sold to Open LABU Feb 11 2022 23.0 Calls at $0.32
I’ve got 20, 21 and 22 short puts that would work very well if I have to cover these short calls.
Plus I have a bunch of long stock from put assignments
Sold off my 2nd lot of ALGN at $537.45.
Bought this on Jan 21st at $475.00 which, at the time, was a new low.
Still have a tiny bit left that was bought at $450.00
#SP500
Former #FallingKnife
Sold TQQQ Feb 11 2022 64.0 Call at $0.42
Sold TQQQ Feb 11 2022 64.5 Call at $0.37
Sold TQQQ Feb 11 2022 65.0 Call at $0.26
Sold TQQQ Feb 11 2022 65.5 Call at $0.21
Sold TQQQ Feb 11 2022 66.0 Call at $0.14
Sold TQQQ Feb 11 2022 66.5 Call at $0.14
Bought to close KOLD1 (pre-split contracts) Feb 18 2022 7.0 Puts at $0.45. Sold at $0.60 before the latest collapse in KOLD.
Taking a little risk off the table.
Bought to close XLV Feb 11 2022 134.0 Puts at $0.90. Sold last Wednesday on a rolldown at $2.09. (I seem to always be rolling these early)
Sold XLV Feb 18 2022 133.0 Calls at $1.03 and gained a point on the short strike.
The VIX is down 5% today as the market rallies. Added these:
Sold VXX Feb 11 2022 18.5 Puts at $0.12
Sold VXX Feb 11 2022 21.0 Calls at $0.32
Total strangle credit for this week: $0.44
Sold VXX Feb 11 2022 19.0 Puts at $0.26
Bought VXX Sep 16 2022 7.0 Puts at $0.17.
Long DTE = 220
Short DTE = 3
#VXXContango
My short VXX Calls and Puts for this week are now in balance.
Sold TNA Feb 11 2022 65.0 Calls at $0.61 and $0.87
Sold TNA Feb 11 2022 66.0 Calls at $0.58
Sold TNA Feb 11 2022 67.0 Call at $0.44
Added a tiny bit of FB at $220.57.
#SP500 #FallingKnife
(now 100 points below it’s pre-earnings price)
Sold 1 VXX Feb 11 2022 19.0 Put at $0.25
Sold VXX Feb 11 2022 18.5 Puts at $0.11
Sold against old long VXX Puts from earlier spreads.
30 minutes later:
Sold 1 VXX Feb 11 2022 24.0 Call at $0.25
The VIX is bouncing all over the place.
Bought to open LABU Feb 25 2022 30 Calls at $0.10
Sold to Open LABU Feb 11 2022 22.5 Calls at $0.30
I’ve got 20, 21 and 22 short puts that would work very well if I have to cover these short calls.
Sold Puts earlier, Calls now
Sold VXX Feb 11 2022 22.5 Diagonal Calls @ $0.42 and $0.43
Sold VXX Feb 11 2022 23.0 Diagonal Calls @ $0.32, $0.33, $0.35 and $0.36
Sold VXX Feb 11 2022 23.5 Diagonal Calls @ $0.29 and $0.30
Sold VXX Feb 11 2022 24.0 Diagonal Calls @ $0.24, and $0.25
All last weeks’ short puts expired so I’ll hold on to those long puts that are now “free” and do it all over again.
Bought VXX Jun 16 2023 5.0 Puts at $0.40
Sold to Open VXX Feb 11 2022 19.5 Puts at $0.43
Short DTE = 4
Long DTE = 494
Bought VXX Jan 20 2023 6.0 Puts at $0.32
Sold to Open VXX Feb 11 2022 19.5 Puts at $0.43
Short DTE = 4
Long DTE = 347
#VXXContango
Added a tiny bit to these at new 52-week lows
Bought CLX at $140.00 (a new 3-year low)
Bought FB at $230.00
Bought SWK at $161.74
Bought ZBH at 112.55
#SP500 #FallingKnife
Bring the gamma!
Tuesday and Thursday expiries coming to the $CBOE $SPX https://t.co/dcHHNsXYXv—
Pat Hennessy, CMT (@pat_hennessy) February 04, 2022
Reacting to the severe drops in stocks like LABU, RIVN, TNA and TQQQ, I spent most of the week setting up diagonal bear call spreads that all worked to give me some cash flow.
A partial recovery in the market today also helped me to roll my puts in these for small credits.
And once again, I threaded the needle by having VXX close above 20 and below 21.50 and all the VXX puts and calls expired (along with some old long VXX calls left over from previous spreads).
Expired:
LABU 25.0 Covered Calls
LABU 17.0 Diagonal Puts
RIVN 160/74 Bear Call Spread
RIVN 85/73 Bear Call Spread
RIVN 85/72 Bear Call Spread
RIVN 80/67 Bear Call Spread
TNA 105/67 Bear Call Spread
TNA 80/67 Bear Call Spread
TNA 79/67 Bear Call Spread
TNA 66.0 Diagonal Call
TQQQ 75/69 Bear Call Spreads
TQQQ 75/67 Bear Call Spread
TQQQ 74/66.5 Bear Call Spread
TQQQ 66.5 Diagonal Call
TQQQ 66.0 Covered Call
TQQQ 65.5 Covered Call
TQQQ 65.0 Covered Call
VXX 40/29 Bear Call Spread
VXX 39/28 Bear Call Spread
VXX 39/27 Bear Call Spread
VXX 38/26 Bear Call Spread
VXX 38/25.5 Bear Call Spread
VXX 37/25 Bear Call Spread
VXX 36/25 Bear Call Spread
VXX 35/25 Bear Call Spreads
VXX 34/24.5 Bear Call Spreads
VXX 33/24.5 Bear Call Spreads
VXX 32/24.5 Bear Call Spreads
VXX 31/24.5 Bear Call Spreads
VXX 24.0 Diagonal Calls
VXX 23.5 Diagonal Call
VXX 23.0 Diagonal Calls
VXX 22.5 Diagonal Calls
VXX 22.0 Diagonal Calls
VXX 21.5 Diagonal Calls
VXX 20.0 Diagonal Puts – #VXXContango
VXX 19.5 Diagonal Puts – #VXXContango
VXX 19.0 Diagonal Puts – #VXXContango
XLV 131.0 Diagonal Puts
Assignments:
Only 1, and it happened last night
1 TNA 80.50 Put
Bought to close 1 TSLA Feb 04 2022 860.0 Put at $0.01. Sold last week on a rolldown after earnings at $50.92
All my short puts are gone.
Bought to close TSLA Feb 04 2022 900.0 Call / Sold to Open 1 TSLA Feb 11 2022 930.0 Call at $0.02 Credit.
At the open today it looked like this would expire.
I have 3 long TSA calls (2 are fully paid for and not worth much) against this 1 short Call
Rolled part of the position up:
Bought to close VXX Feb 04 2022 22.0 Calls at $0.06. Sold last Friday on a rollup at $2.78
Sold to Open Contracts VXX Feb 11 2022 24.5 Calls at $0.32
Bought to Close 1 TNA Feb 04 2022 62.0 Diagonal Call at $0.03. Sold on Monday at $0.99
Bought to Close 1 TNA Feb 04 2022 63.0 Diagonal Call at $0.01. Sold on Monday at $0.86
Sold to Open 1 TNA Feb 11 2022 66.0 Call at $0.43
Sold to Open 1 TNA Feb 11 2022 67.0 Call at $0.33
Bought to close 1 TSLA Feb 04 2022 700.0 Put at $0.01. Sold last week at $3.50
Still waiting on and TSLA 860.0 Put to drop to a penny too.
Rolled up some of my covered calls to next week at strikes above this week’s high.
Bought to close 1 TQQQ Feb 04 2022 63.5 Call at $0.02. Sold last Friday at $0.41.
Bought to close 1 TQQQ Feb 04 2022 64.0 Call at $0.01. Sold last Friday at $0.39.
Sold to Open 1 TQQQ Feb 11 2022 66.5 Covered Call at $0.41
Sold to Open 1 TQQQ Feb 11 2022 67.0 Covered Call at $0.37
Added to my tiny position in CLX at 144.51 (at a 3-year low)
Added to my tiny position in PYPL at $123.00
Added to my tiny position in SWKS at $132.00
Added to my tiny position in XYL at $88.00
Started a new position in FTV at $65.00
#SP500 #FallingKnife
Closed the last of these since it expires tomorrow
Sold to close 1 LABU Feb 04 2022 25.0 Put at $8.00. Bought on 01/05/2022 at $1.20.
I’m guessing I’ll have to roll the short Feb 04 2022 17.0 Puts I thought would expire, but I’ll deal with that tomorrow.
Started a tiny new position in FB at $237.00.
Down 27% and at a new low
#SP500 #FallingKnife
Futures still in contango for now, even with the VIX up 13% to 24.87
A rally to a difficult level where overhead supply comes into play… Fade the move here- our thinking. pic.twitter.com/8CQ0BTgcJL
— Carter Braxton Worth (@CarterBWorth) February 2, 2022
Bought to close 1 TNA Feb 04 2022 67.0 Put at $6.71. Sold on a roll last Friday at $14.95
Sold to Open 1 TNA Feb 11 2022 66.0 Put at $6.73. A small credit but gained a point on the strike.
Bought to close 1 TNA Feb 04 2022 65.0 Put at $4.58. Sold on a roll last Friday at $12.76
Sold to Open 1 TNA Feb 11 2022 63.0 Put at $4.60. A small credit but gained 2 points on the strike.
Started a tiny new position in HON at a new low of $195.28.
Started a tiny new position in XYL at a new low of $93.29
#SP500 #FallingKnife
Writing against most of my leftover long calls and hoping this move in VXX gets all my short puts for this week expire (or at least drop to a penny)
Sold VXX Feb 04 2022 23.0 Diagonal Calls at $0.20
Sold VXX Feb 04 2022 22.5 Diagonal Calls at $0.29
Sold VXX Feb 04 2022 22.0 Diagonal Calls at $0.35
Sold VXX Feb 04 2022 21.5 Diagonal Call at $0.43
Facebook Plummets 16% After Missing Across The Board, Guiding Below Expectations
Started a tiny new position in ETSY at $136.00
#SP500 #FallingKnife
Given that the market could hit another air pocket at any time I’m taking the opportunity to roll these puts down for another week.
Bought to close XLV Feb 04 2022 134.5 Puts at $1.97. Sold on a rollout last Friday at $6.58
Made back more on this trade than I lost on the Roll last week.
Sold to Open XLV Feb 11 2022 134.0 Puts at $2.09.
XLV has rallied to 132.70 and I still have XLV 131.0 Puts that I hope to let expire.
Sold the last of my tiny VRTX stock position at $251.00, a new 52-week high.
Bought this pretty close to the 52-week low at $180.00 on 10/01/2021.
Former #Sp500 #FallingKnife
Because of last week’s short put assignments I find myself with excess long Puts the expire Friday.
Sold to close 1 LABU Feb 04 2022 25.0 Put at $5.80. Still have more to sell.
Bought this on 12/31 at $0.73.
This helps offset part of the loss on the LABU stock position.
Ditching spreads on KOLD for this one trade
Sold 1 KOLD Feb 18 2022 23.0 Put at $3.50.
15% return on cash if it expires in a couple of weeks.
Bought VXX Nov 18 2022 5.0 Puts at $0.10
Sold to Open VXX Feb 04 2022 19.0 Puts at $0.18
Short DTE = 2
Long DTE = 289
#VXXContango
Sold TQQQ Feb 04 2022 69 Diagonal Calls at $0.52.
Paired with short puts rolled over last week and long stock.
Added the tiniest bit of stock to my small IRA #SP500 Portfolio project
Bought PYPL at $131.00
#FallingKnife
Sold to Open TNA Feb 04 2022 67.0 Calls at $0.61.
I’ve got short 65.0 and 67.0 Puts as a balance for this week so hoping it’s close to the strike and I have to roll these up on Friday
Bought to Open VXX Sep 16 2022 7.0 Puts at $0.15 – First Long puts in this month
Sold to Open VXX Feb 04 2022 19.5 Puts at $0.21
Short DTE = 3
Long DTE = 227
If I’m forced to roll the short puts on Friday, I’m happy because that means the market is still rising, which helps my LABU, TNA and TQQQ put positions.
#VXXContango
Sold LABU Feb 04 2022 25.0 Covered Calls at $0.10.
I’ll take these small gains while waiting for LABU to recover.
Peeled off my highest cost lot of #SP500 stock ALGN and sold it at $504.27.
Bought this on 01/18 at $494.00.
I’m keeping lots I bought at $475.00 and $450.00 for a bit longer
Former #FallingKnife
Bought VXX Apr 14 2022 13.0 Puts at $0.24
Sold to Open VXX Feb 04 2022 20.0 Puts at $0.31
Bought to Open VXX Mar 18 2022 12.0 Puts at $0.02
Sold to Open VXX Feb 04 2022 19.5 Puts at $0.13
#VXXContango Spreads
Then I sold some calls against long calls left over from previous Bear Call spreads
Sold VXX Feb 04 2022 24.0 Calls at $0.32 and $0.35
Sold VXX Feb 04 2022 24.5 Calls at $0.28 and $0.31
Sold VXX Feb 04 2022 25.0 Calls at $0.26 and $0.28
#DoubleDip trades
Sold 1 RIVN Feb 04 2022 74.0 Call at $0.55
Bought to open VXX Apr 14 2022 12.0 Puts at $0.10
Sold to Open VXX Feb 04 2022 20.0 Puts at $0.14
Short DTE = 4
Long DTE = 73
My first buy of the April contracts. Could they be ITM by April – Absolutely!!
Could the Feb 04 VXX 20’s be ITM by Friday – Absolutely!! – but they can be rolled very easily for additional premium.
#VXXContango
Sold TNA Feb 04 2022 67.0 Calls at $0.44 & $0.50
Sold 1 TNA Feb 04 2022 66.0 Call at $0.57
Sold 1 TNA Feb 04 2022 65.0 Call at $0.70
Sold 1 TNA Feb 04 2022 64.0 Call at $0.80
Sold 1 TNA Feb 04 2022 63.0 Call at $0.86
Sold 1 TNA Feb 04 2022 62.0 Call at $0.99
Paired with TNA ITM Bull Put spreads rolled over last week.
Sold TQQQ Feb 04 2022 65.0 Call at $0.30
Sold TQQQ Feb 04 2022 65.5 Call at $0.27
Sold TQQQ Feb 04 2022 66.0 Call at $0.24
Expired:
LABU 25.0 Covered Calls
RIVN 73.0 Diagonal Calls
RIVN 185/70 Bear Call Spread
TNA 100/67 Bear Call Spread
TNA 80/67 Bear Call Spread
TQQQ 64.5 Covered Call
TQQQ 65.0 Covered Call
TQQQ 65.5 Covered Call
TQQQ 80/65 Bear Call Spreads
TQQQ 87.5/65 Bear Call Spreads
TSLA 1,200.0 Diagonal Call
VXX 23.5 Diagonal Calls
VXX 24.0 Diagonal Calls
VXX 25.0 Diagonal Calls
VXX 26.0 Diagonal Calls
VXX 26.5 Diagonal Calls
VXX 27.0 Diagonal Calls
VXX 27.5 Diagonal Calls
VXX 37/27.5 Bear Call Spread
VXX 38/27.5 Bear Call Spread
VXX 20.0 Diagonal Puts – #VXXContango
XLV 127.0 Diagonal Puts – the only other put (other than VXX) that expired in this week’s market.
Rolled all the others in RIVN, TNA, TQQQ, TSLA and XLV for tiny credits.
Assignments:
Unable to roll these out a week for any credit –
LABU 34.0 Puts (adjusted stock cost after put premium is 26.30)
LABU 32.0 Put (adjusted stock cost after put premium is 18.60)
At the close – hitting the bid because I had 3 extra long calls in future weeks
Sold to Open 1 VXX Feb 04 2022 29.0 Call at $0.31
Sold to Open 1 VXX Feb 04 2022 28.0 Call at $0.38
Sold to Open 1 VXX Feb 04 2022 27.0 Call at $0.50
VXX at 22.99
Bought to close 1 TSLA Jan 28 2022 730.0 Put at $0.01. Sold on Tuesday before earnings at $2.29
Sold TQQQ Feb 04 2022 63.5 Call at $0.41
Sold TQQQ Feb 04 2022 64.0 Call at $0.39
Sold TQQQ Feb 04 2022 64.5 Call at $0.33
TQQQ at 54.50
Starting rolls because VXX is bouncing and it could get crazy at the close.
Gaining a nice bump in the short strike prices along with the positive cash flow.
Bought to close 1 VXX Jan 28 2022 23.0 Call / Sold to Open 1 VXX Feb 04 2022 25.5 Call at $0.22 Credit
Bought to close 1 VXX Jan 28 2022 22.5 Call / Sold to Open 1 VXX Feb 04 2022 23.5 Call at $0.32 Credit
Bought to Close VXX Jan 28 2022 21.5 Calls / Sold to Open VXX Feb 04 2022 22.0 Calls at $0.05 Credit.
Waiting out my 23.50 and 24.0 Calls until near the close
My Calls at 25.0 and higher will most likely expire.
Hoping for less volatility next week.
Sold KOLD1 Feb 18 2022 5.0 Puts at $0.50.
Sold against fully paid for long KOLD1 May 3.0 Puts.
All my longs are now fully covered
#DoubleDip
Bought to close 1 TSLA 01/28/2022 1,000.00 Diagonal Call at $0.01.
Sold on a rollup last Friday at $60.67
Leaves a fully paid for TSLA Feb 1200 Call that I might sell or write against again.
Another day, another batch of #SP500 #FallingKnife trades
Added to my positions in:
CDAY at $68.00
ILMN at $319.00
Started new positions in:
AAL at $15.00
MMM at 163.38
SWK at $169.00
VFC at $65.18
WDC at $49.20
Sold KOLD1 Feb 18 2022 8.0 Put (pre-split contract) at $0.95 against a long August 4.0 Put already long and paid for.
Sold KOLD1 Feb 18 2022 7.0 Puts (pre-split contract) at $0.60 against long May 4.0 Puts already long and paid for.
#DoubleDip
2022 YTD performances… but we are not in a bear market…
$SHOP -38.28%
$NFLX -35.63%
$SQ -26.72%
$MDB -32.44%
$SPOT -26.27%
$DOCU -24.71%
$CMG -22.37%
$TEAM -21.05%
$TSLA -18.17%
Honorable mentions:
$GME -35.65%
$AMC -45.66%
Nothing to see here…
More tiny buys of #SP500 stocks at new lows
Started a new position in NLSN at $18.15
Started a new position in TER at $103.02 after #Earnings collapse (40 point air pocket on earnings)
Started a new position in TROW at $150.00
#FallingKnife
Did puts earlier, now some calls
Sold VXX Jan 28 2022 27.5 Calls at $0.21, $0.22 and $0.23.
The spike high on VXX this week was Monday at 27.84 when the VIX index was above 38. I don’t see that happening again this week.
VXX currently at 23.60
Starting a tiny new position in INTC stock at its old 52-week low.
Bought INTC at $47.87
Added MKTX at $329.54. My last trade was to sell a bit of this at $415.00 for a small gain on 12/15/2021.
#SP500 #FallingKnife
Bought to open VXX Mar 18 2022 10.0 Puts at $0.01
Sold to Open VXX Feb 04 2022 19.0 Puts at $0.20
Short DTE = 8
Long DTE = 50
The long side of the spread is just to lower the margin requirements by 10 points per contract vs. a outright sale of the put as a cash backed trade.
And it’s an ultra-cheap lottery ticket.
#VXXContango
Puts this morning, more calls now
Sold VXX Jan 28 2022 27.0 Calls at $0.94.
VXX at 24.33
Started a new tiny position in PAYC at $298.23 as it reached its 52-week low
#SP500 #FallingKnife
Options Bistro 