Started a tiny new position in ROST at $103.60
Added to my TMUS position at $106.70
Back into TTWO at $140.80 after exiting it last October at $175.55.
All these buys were at new 52-week Lows (surprised that there weren’t more this morning)
#SP500
#FallingKnife
Author Archives: Option Iceman
VXX Call Ladder
I have a bunch of excess long calls left over from last week’s diagonal spreads.
Starting to write against them
Sold 1 VXX Jan 14 2022 21.0 Call at $0.98
Sold 1 VXX Jan 14 2022 21.5 Call at $0.82
Sold 1 VXX Jan 14 2022 22.0 Call at $0.71
XLV Put spreads again
Bought to open XLV Mar 18 2022 115 Put / Sold to Open XLV Jan 14 2022 132.5 Put at $0.08 Credit
Bought to open XLV Mar 18 2022 116 Put / Sold to Open XLV Jan 14 2022 132.5 Put at $0.10 Credit
#OnlySpreads
TLRY
Sold TLRY Jan 14 2022 10.5 Covered Calls @ 0.08
TSLA
With two TSLA Bear Call Spreads already in place I added a couple of Diagonal Puts on the open.
Sold 1 TSLA Jan 14 2022 800.0 Put at $2.37 against an existing Jan 710 Put. #TripleDip
Bought to Open 1 TSLA Feb 04 2022 730.0 Put / Sold to Open 1 TSLA Jan 14 2022 900.0 Put at $0.55 Credit.
This gets one of my long put positions out past earnings.
Markets
NASDAQ at critical support
OptionsExpiration
For the third week in a row all my short VXX Puts and Calls expired along with numerous re-writes against worthless old VXX long positions.
The pull back flipped my TQQQ risk from the call side to the put side so I’m looking for a NASDAQ bounceback next week.
Expired:
LABU 01/07/2022 50/42 Bear Call Spreads
LABU 01/07/2022 36.50 Covered Calls
RIVN 01/07/2022 180/107 Bear Call Spread
TLRY 01/07/2022 9.5 Covered Call
TNA 01/07/2022 110/90 Bear Call Spread
TNA 01/07/2022 90.0 Diagonal Call
TNA 01/07/2022 85.0 Diagonal Call
TNA 01/07/2022 84.0 Diagonal Calls
TQQQ 01/07/2022 190/171 Bear Call Spreads
TQQQ 01/07/2022 190/167 Bear Call Spread
TSLA 01/07/2022 1125.0 Diagonal Call
VXX 01/07/2022 17.0 Diagonal Puts
VXX 01/07/2022 17.5 Diagonal Puts
VXX 01/07/2022 19.0 Diagonal Calls
VXX 01/07/2022 19.5 Diagonal Calls
VXX 01/07/2022 30/20 Bear Call Spread
VXX 01/07/2022 31/20 Bear Call Spread
VXX 01/07/2022 32/20 Bear Call Spread
VXX 01/07/2022 33/20 Bear Call Spread
VXX 01/07/2022 34/20 Bear Call Spread
VXX 01/07/2022 48/20.5 Bear Call Spreads
VXX 01/07/2022 49/21 Bear Call Spreads
VXX 01/07/2022 50/21 Bear Call Spreads
VXX 01/07/2022 50/21.5 Bear Call Spread
LABU XLV Put Rolls
Last trades for this week
Rolled my LABU 32 Put to next week for a $0.59 Credit
Rolled down my XLV 136 Puts to next week’s 135.50 Puts for a $0.14 Credit and gained $0.50 on the short strike.
VXX Puts
Looking to replace puts for this week that are just about to expire
Sold VXX 01/14/2022 17.0 Puts @ 0.07
Sold VXX 01/14/2022 17.5 Puts @ 0.15 and $0.16.
I’m long plenty of Jan 21st puts to hedge these.
#OnlySpreads
TQQQ Call Closed and Puts Rolled
Bought to close 1 TQQQ Jan 07 2022 153.0 Call at $0.01. Sold last Friday on a roll at $15.30
Rolled this week’s 153 puts down 2 points to next week’s 151 puts at $0.71 Credit
Rolled this week’s 152 puts down 3 points to next week’s 149 puts at $0.25 Credit
Rolled this week’s 151 puts down 4 points to next week’s 147 puts at $0.25 Credit
Rolled this week’s 150 puts down 5 points to next week’s 145 puts at $0.38 Credit
I have other TQQQ short calls that expire today too
A whole lota TSLA goin’ on
Bought to close TSLA 01/07/2022 885.0 Puts at $0.02
Closed both sides of my TSLA 880/1015 Diagonal Calendar Bull Put spread at a Credit of $1.75.
Sold this spread on Wednesday for a small Credit so a #WinWin as I had a gain on both sides of the spread.
Then I sold 1 TSLA Jan 14 2022 840.0 Diagonal Put at $1.60 against long Jan monthly Puts.
#OnlySpreads
TSLA Call major rollup
Bought to close 1 TSLA Jan 07 2022 1,015.0 Diagonal Call at $8.87. Sold on a rollup last Friday at $65.31.
Sold to Open 1 TSLA Jan 14 2022 1,100.0 Call at $10.24.
A credit of $1.37 and a giant 85 Point jump in the short strike. The new strike is above today’s high of 1080.93.
My long Feb TSLA Call has now been more than paid for as we approach #Earnings in a couple of weeks.
#OnlySpreads
RIVN Put Rolldown
Bought to close RIVN Jan 07 2022 90.0 Diagonal Puts / Sold to Open RIVN Jan 14 2022 83.0 Puts at $0.05 Credit but a 7 point lower strike.
At least my RIVN Bear call spread will expire today
GPN stock
Sold my oldest and highest cost lot of GPN at $153.57.
Bought it back on October 12th at $149.75, and 3 more times after that.
Former #FallingKnife
VXX Calls
Starting in on next week’s writes
Sold VXX Jan 14 2022 21.0 Diagonal Calls at $0.63 and at $0.74
#OnlySpreads
TSLA Call Rollup
Bought to close 1 TSLA Jan 07 2022 940.0 Diagonal Call at $103.31. Sold last week on a roll at $127.45.
Sold to Open 1 TSLA Jan 14 2022 950.0 Call at $103.33 for a tiny credit but bumped the short strike 10 points.
Still waiting to see how my TSLA 1015.0 short Straddle works out today.
HUM Stock
Started tiny a new position in Humana at yesterday’s panic low (and new 52-week low) of $358.28
LABU Put Rolldown
Bought to Close LABU Jan 07 2022 35.0 Puts / Sold to Open LABU Jan 14 2022 34.0 Puts at $0.05 Credit and lowered the strike a point.
TNA Put Rolldowns
Bought to close 1 TNA Jan 07 2022 84.0 Put / Sold to Open 1 TNA Jan 14 2022 81.0 Put at $0.02 Credit but lowered the strike 3 points
Bought to close 1 TNA Jan 07 2022 86.0 Put / Sold to Open 1 TNA Jan 14 2022 84.0 Put at $0.02 Credit but lowered the strike 2 points
TQQQ Call Rollup
Bought to close 1 TQQQ Jan 07 2022 140.0 Call at $9.00. Sold last week on a roll at $33.17.
Replaced it with 1 TQQQ Jan 14 2022 143.0 Call at $9.44 for a $0.44 Credit and a 3 point better short strike.
LABU Early Assignment
Bought 200 Shares of LABU at $45.00 when my Jan 07 puts were exercised overnight.
After the $8.50 put premium my adjusted cost will be 36.50.
I’ll start writing covered calls there and roll up on the next bounce.
VIX flys
VIX up over 17% today
VXX Calls
Sold against my last two uncommitted long VXX calls
Sold 1 VXX Jan 07 2022 19.5 Call @ 0.58
Sold 1 VXX Jan 07 2022 20.0 Call @ 0.46.
My large offsetting position in short VXX 17.50 puts is looking pretty good right now.
#VXXContango
TSLA Put
Sold 1 TSLA Jan 07 2022 1015.0 Diagonal Put at 1.68.
I have a short call I’ve been rolling at the same strike, so no downside worries.
#OnlySpreads
TWTR stock
Added a tiny new position in TWTR at $40.00.
Hate the company, not sure if the stock trade works out, but fits my #FallingKnife strategy.
Won’t buy again until $35
RIVN Diagonal Put
Bought to open 1 RIVN Feb 04 2022 70.0 Put / Sold to Open 1 RIVN Jan 07 2022 90.0 Put at $0.52 Net Credit.
I’m already short a RIVN 107 Call I sold yesterday at $2.72, so ahead of the game so far.
#OnlySpreads
Markets
Getting serious out there as the DJIA finally joins the party to the downside.
The VIX is above yesterday’s peak.
LABU Put
Sold 1 LABU Jan 07 2022 32.0 Diagonal Put at $1.25. The yearly low for LABU is 31.90 (so far …)
#OnlySpreads
TQQQ Put
Added to my position
Sold 1 TQQQ Jan 07 2022 150.0 Diagonal Put at $0.93.
I’m trying to force TQQQ down toward this strike so a bunch of my TQQQ short calls expire on Friday
Markets
Without comment
VXX1 Puts
Starting to liquidate the long side of ancient #VXXContango trades. Sold my oldest lot and will try for higher prices.
Sold to close VXX1 Jan 21 2022 6.0 Puts at $1.65. Life of contract high since the reverse split on VXX.
Bought this on 05/29/2020 at $0.48.
Equals $6.60 on the newer strike 24 puts
BAX Stock
Sold my tiny bit of BAX at $88.32. Bought this former #FallingKnife on 08/05 at $74.00 and was never able to average down.
In within pennies of the 52-week low and the 52-week high was this morning.
Former #FallingKnife
FDX Stock
Sold my highest cost lot in FDX at $265.50.
Bought this right around #Earnings on 09/28 at $230.00.
I’ll hang on to my last purchase at $225.00 for a much bigger move.
Former #FallingKnife
TWTR
Twitter makes my #FallingKnife list as the stock approaches $40.
Haven’t bought any just yet.
VXX Calls
Created a new diagonal call spread to pair off with all the puts spreads I have for this week.
Bought to open VXX Jan 28 2022 37.0 Calls at $0.28
Sold to Open VXX Jan 07 2022 19.0 Calls at $0.32 for a net credit of $0.04.
Hoping for another couple of re-writes against the long after Friday.
VXX topped out at 18.42
TSLA Put
Sold TSLA Jan 07 2022 885.0 Put at $0.52
A re-write against my long TSLA Jan 2022 710.0 put.
#DoubleDip
TQQQ Puts
Sold TQQQ Jan 07 2022 153.0 Diagonal Puts at $0.72
XLV Puts
Sold XLV Jan 07 2022 136.0 Puts at $0.37 and $0.42
A second write against some long March puts.
#DoubleDip
More VXX Puts
Sold VXX Jan 07 2022 17.5 Puts at $0.26.
Sold against existing long March 15.0 Puts.
I can roll the short if necessary.
VXX Puts
Sold a few VXX Jan 07 2022 17.0 Puts @ 0.08.
Will be watching these for further writes as the price rises.
I’ve got a huge bunch of LONG VXX1 (pre-split) Jan 21 2022 6.0 Puts that are currently in the money and have to be unloaded over the next 2 weeks, so I’m not too worried about the chance to write against them 1 more time.
It’s getting KOLD again
Bought another KOLD Aug 19 2022 6.0 Put at $0.50.
Sold another KOLD Jan 21 2022 11.0 Put at $0.70.
Created another Bull Calendar Put spread with a $0.20 Credit.
Long DTE = 228
Short DTE = 18
LABU Calls
Sold LABU Jan 07 2022 42.0 Diagonal Calls at $0.65, replacing similar calls that expired Friday.
#OnlySpreads
CCL NCLH
Apparently, nobody cares about the CDC warning on cruise lines anymore
CCL up 6%
NCLH up 5%
VXX Strangles
Sold VXX Jan 07 2022 20.0 Diagonal Calls at $0.23
Sold VXX Jan 07 2022 20.5 Diagonal Calls at $0.16
Sold VXX Jan 07 2022 17.5 Diagonal Puts at $0.16 and $0.17
Ancient VXX1 Puts closed
Sold to close VXX1(pre-split) Jan 21 2022 7.0 Puts at $2.55, a new contract high since the split. They are rapidly approaching expiration.
Bought these back in June 2020(yes 2020, not 2021) at $0.67 as the long side of a #VXXContango spread. They were free after the first week.
#VXXContango at work.
OptionsExpiration
Last one in 2021. Happy New year everyone
LABU 60/45 Bear Call Spread
LABU 60/44 Bear Call Spread
LABU 44.0 Diagonal Calls
LABU 42.0 Diagonal Calls
TLRY 12.0 Covered Calls
TNA 125/88 Bear Call Spread
TNA 110/88 Bear Call Spread
TQQQ 115/140 Bull Put Spreads
TQQQ 163.0 Diagonal Puts
TSLA 885.0 Diagonal Put
TSLA 1000.0 Diagonal Put
VXX 50/21 Bear Call Spread
VXX 45/21 Bear Call Spread
VXX 40/21 Bear Call Spread
VXX 39/21 Bear Call Spread
VXX 35/21 Bear Call Spread
VXX 34/21 Bear Call Spread
VXX 33/21 Bear Call Spread
VXX 20.5 Diagonal Calls
VXX 20.0 Diagonal Calls
VXX 18.0 Diagonal Puts – #VXXContango
TSLA Call – Yes yes yes
Bought to close 1 Contract TSLA Dec 31 2021 1,075.0 Call at $0.01. Sold as the short side of a DEC 31/ Feb 21 diagonal Bear Call spread at $54.21
Sold to Open 1 Contract TSLA Jan 07 2022 1,125.0 Call at $12.23 and a 50 !!! point higher strike (above the recent high on the stock). My Feb long will be there through earnings. 🙂
TQQQ Call Rollup
Bought to close 1 TQQQ Dec 31 2021 166.0 Call at $1.48. Sold on a rollup last week at $4.15.
Sold to Open 1 TQQQ Jan 07 2022 171.0 Call at $2.50 for a $1.02 Credit a a 5-point bump in the short strike.
Done with TQQQ for this year.
VXX Put Rolldown
Bought to close VXX Dec 31 2021 18.5 Puts at $0.08. Sold all during this week at prices from $0.11 to $0.15.
They may expire but they spent a good part of this afternoon in the money.
Replaced them with VXX Jan 07 2022 17.5 Puts at $0.10. I’m long Jan monthly 18 puts so no downside risk.
#VXXContango
TNA Call Rollups
Bought to close TNA Dec 31 2021 82.0 Calls at $3.16. Sold last week on a rollup at $4.50
Replaced them with short TNA Jan 07 2022 84.0 Calls at $3.21 for a $.05 Credit and a 2 point higher strike.
Bought to close TNA Dec 31 2021 83.0 Call at $2.58. Sold last week on a rollup at $3.80
Replaced it with a short TNA Jan 07 2022 85.0 Call at $2.77 for a $.12 Credit and a 2 point higher strike.
Bought to close TNA Dec 31 2021 85.0 Call at $0.63. Sold last week on a rollup at $2.67.
Replaced it with another short TNA Jan 07 2022 90.0 Call at $0.81 for a $.18 Credit and a 5 point higher strike. (the premium on the 90 call is less than the one I sold this morning but I’ll take it).
Done with TNA for this year.
TNA Put Rolldown
Bought to close 1 TNA Dec 31 2021 88.0 Put at $3.03. Sold last week on a rolldown at $5.96.
Replaced it with 1 short TNA Jan 07 2022 86.0 Put at $3.08 and a 2 point drop in the short strike.
LABU Put Rolldown
Bought to close 1 LABU Dec 31 2021 38.0 Put at $0.97. Sold on Tuesday at $1.34.
Replaced it with 1 short LABU Jan 07 2022 35.0 Put at $1.32 for a Net Credit of $0.35 and a 3 point better strike.
Also added a new diagonal Put spread:
Bought to open LABU Feb 04 2022 25.0 Puts / Sold to Open LABU Jan 07 2022 35.0 Puts at $0.62 Credit.
TSLA Call Rollup
Bought to close 1 TSLA Dec 31 2021 1,000.0 Call / Sold to Open 1 TSLA Jan 07 2022 1,015.0 Call at $0.52 Net Credit plus a 15 point higher strike for next week.
TQQQ Call Rollup
Bought to close 1 TQQQ Dec 31 2021 163.0 Call at $4.89. Sold on a rollup last week at $5.92
Sold to Open 1 TQQQ Jan 07 2022 167.0 Call at $5.01 for a $0.12 Credit a a 4 point bump in the short strike.
TNA Call
Getting a jump on next week’s calls as I think my 88 calls for today will be covered for a penny soon.
Sold TNA Jan 07 2022 90.0 Call at $1.15
MARKETS
Bloomberg notes, the S&P 500 hasn’t dipped below its 200-day moving average on an intraday basis at all this year, a feat that has only happened four other times since 1981.
TQQQ Put Scalp
Sold TQQQ Dec 31 2021 163.0 Puts at $0.32.
Expires tomorrow
TSLA
Tesla Recalls More Than 475,000 US Vehicles Due To Quality Issues
The massive number of vehicles being recalled represents about 25% of all Tesla vehicles manufactured since the company’s inception.
I’m hoping the news holds the stock down for at least the next 2 days.
VXX Strangle
Sold VXX Dec 31 2021 20.0 Call at $0.30
Sold VXX Dec 31 2021 18.5 Put at $0.11 and more at $0.12
TNA Call
Sold 1 TNA Dec 31 2021 88.0 Call at $2.05.
Paired with the short 88 put I rolled to last week for a short staddle for a total of $8.01
LABU Put
Sold 1 LABU Dec 31 2021 38.0 Put at $1.34
VXX Calls
Added a couple more of the short VXX Dec 31 2021 21.0 Calls at $0.24
TFX Stock
I bought TFX stock 5 times as it fell in November and on Dec 01. Selling off the first, highest cost lot at a small gain.
Sold TFX at $333.00
TNA Call
Sold 1 TNA Dec 31 2021 88.0 Diagonal Call at $1.40
#OnlySpreads
TSLA
Taking another crack at TSLA
Bought 1 TSLA Feb 1300 Call, Sold 1 TSLA Dec 31 2021 1075.0 Call at $1.20 Credit
#OnlySpreads
VXX Calls
Sold VXX Dec 30 20211 21.0 Calls at $0.34, $.040, $0.42 and $0.44
#OnlySpreads
OptionsExpiration
For the 2nd week in a row EVERY short position I had for this week in VXX expired. I had a lot of old long calls from prior spreads run off too, but I got to write against those mostly worthless calls one more time.
Of course, that means the strong market forced me to roll a lot of calls in other stocks
EXPIRED:
RIVN 12/23/2021 90.0 Diagonal Put
SQQQ 12/23/2021 7.0 Covered Calls
TLRY 12/23/2021 12.0 Covered Calls
TNA 12/23/2021 60/71 Bull Put Spread
TNA 12/23/2021 65.0 Diagonal Put
TQQQ 12/23/2021 120/140 Bull Put Spreads
TQQQ 12/23/2021 130.0 Diagonal Puts
TSLA 12/23/2021 720/800 Bull Put Spread
TSLA 12/23/2021 700/790 Bull Put Spread
VXX 12/23/2021 36/27 Bear Call Spreads
VXX 12/23/2021 37/28 Bear Call Spreads
VXX 12/23/2021 46/29 Bear Call Spreads
VXX 12/23/2021 47/30 Bear Call Spreads
VXX 12/23/2021 26.0 Diagonal Calls
VXX 12/23/2021 25.0 Diagonal Calls
VXX 12/23/2021 24.0 Diagonal Calls
VXX 12/23/2021 23.5 Diagonal Calls
VXX 12/23/2021 23.0 Diagonal Calls
VXX 12/23/2021 18.0 Diagonal Puts
XLV 12/23/2021 136.0 Diagonal Put
XLV 12/23/2021 137.0 Diagonal Put
Merry Christmas everyone
Merry Christmas everyone
TQQQ Call Rollups
Bought to Close 1 TQQQ Dec 23 2021 160.0 Call / Sold to Open 1 TQQQ Dec 31 2021 163.0 Call at $0.07 Credit.
Bought to Close 1 TQQQ Dec 23 2021 162.0 Call / Sold to Open 1 TQQQ Dec 31 2021 165.0 Call at $0.47 Credit.
Bought to Close 1 TQQQ Dec 23 2021 162.0 Call / Sold to Open 1 TQQQ Dec 31 2021 166.0 Call at $0.05 Credit.
Done for today.
TNA Calls Rolled up.
Almost finished for today
Bought to Close 1 TNA Dec 23 2021 82.0 Call / Sold to Open 1 TNA Dec 31 2021 85.0 Call at $0.02 Credit
Bought to Close 1 TNA Dec 23 2021 81.0 Call / Sold to Open 1 TNA Dec 31 2021 83.0 Call at $0.38 Credit
Bought to Close TNA Dec 23 2021 80.0 Calls / Sold to Open TNA Dec 31 2021 82.0 Calls at $0.02 Credit
LABU Calls Rolled up
Bought to Close LABU Dec 23 2021 41.0 Calls at $1.67. Sold last Friday at $1.75 so a tiny gain.
Sold to Open LABU Dec 31 2021 44.0 Calls at $1.72 to replace them
Bought to close 1 LABU 1 Dec 23 2021 42.0 Call at $0.60. Sold on Monday at $1.45
Sold to Open 1 LABU Dec 31 2021 45.0 Call at $1.25 and create a 45 strangle with the put I rolled down to earlier.
LABU Puts Closed
Didn’t expect this last Friday.
Bought to close LABU Dec 23 2021 42.0 Puts at $0.05. They won’t trade any lower.
Sold last Friday at $4.08 on a rolldown.
LABU – new diagonal Call spread
Bought to Open 1 LABU Jan 21 2022 50.0 Call / Sold to Open 1 LABU Dec 31 2021 42.0 Call at $0.15 Credit.
To partially offset the short put risk for next week.
KOLD
Legged into this one.
Sold to open KOLD Jan 21 2022 10.0 Put at $0.90 yesterday.
Bought to open KOLD Aug 19 2022 6.0 Put at $0.50 today.
Pretty good ROI on the spread requirements for the first month.
If Nat gas spikes and KOLD tanks, I can always roll the short down at the January expiration.
TSLA – New Short Calendar Iron Condor Spread
Bought to Open 1 Contract TSLA Jan 21 2022 710.0 Put / Sold to Open 1 TSLA Dec 31 2021 885.0 Put at $0.03 Credit for the first week. I expect several re-writes.
Paired with this new call spread
Bought 1 TSLA Feb 18 2022 1,200 Call / Sold to Open TSLA Dec 31 2021 1,000 Call at $3.50 Net Credit.
The long call has enough life that I should get multiple re-writes.
The result is 885 / 1000 short strangle for the coming week with an initial total short premium of $5,535
Options Bistro 