I normally don’t like investing in retailers so I bought even less than I normally would for a low priced stock.
Bought GPS at $18.00, a new 52-week low.
#SP500
Rapidly #FallingKnife
Author Archives: Option Iceman
RIVN Put
Bought to close 1 RIVN Nov 26 2021 100.0 Put at $0.05. It won’t trade any lower
Sold as part of a Jan/Nov Diagonal spread earlier this week at $3.45.
Still have the long to write against next week
Markets
The retail bloodbath continues today
JWN -30%
GAP -24%
VXX Puts
Hoping for ‘Volmageddon 2.0’ but it looks like it won’t happen this week
Bought to close VXX Nov 26 2021 24.5 Puts at $3.62. Sold last Thursday at $4.05.
Sold to Open VXX Dec 03 2021 24.5 Puts at $3.77.
VXX Covered Calls
With some successful put rolls out of the way I’m rolling part of my covered calls up to next week for a nice bump in premium.
Bought to close VXX Nov 26 2021 23.0 Calls at $0.07. Sold Friday and Monday at $0.23 and $0.24.
Sold to Open VXX Dec 03 2021 23.5 Covered Calls at $0.44
Bought to close VXX Nov 26 2021 22.5 Calls at $0.14. Sold on Monday at $0.21, $0.23 and $0.28.
Sold to open VXX Dec 03 2021 23.0 Covered Calls at $0.59
TSLA Call Rollups
Rolled this week’s TSLA 840 Diagonal Call to next week’s TSLA 845 Call for a $0.05 Credit
Rolled this week’s TSLA 880 Diagonal Call to next week’s TSLA 890 Call for a $0.05 Credit.
Rolled this week’s TSLA 930 Diagonal Call to next week’s TSLA 940 Call for a $0.80 Credit.
Lowered my spread requirements by $2500.
Waiting to cover my remaining TSLA 11/26/2021 1250.0 call and my TSLA 11/26/2021 840.0 Puts at a penny so I can re-write more of each for next week.
VXX Put rolldowns
Bought to close VXX Nov 26 2021 21.0 Puts at $0.20. Sold on a roll last Thursday at $1.04.
Sold to Open VXX Dec 03 2021 20.0 Puts at $0.22. A full point lower.
Partial Roll
Bought to close VXX Nov 26 2021 22.5 Puts at $1.25. Sold on a roll last Thursday at $2.13.
Sold to Open VXX Dec 03 2021 22.0 Puts at $1.40 and a half point lower.
Bought to close VXX Nov 26 2021 24.0 Puts at $2.39. Sold on a roll last Thursday at $3.66.
Sold to Open VXX Dec 03 2021 23.5 Puts at $2.41 and a half point lower.
TSLA Put
Sold 1 TSLA Nov 26 2021 840.0 Put at $1.31.
A #DoubleDip write against a leftover Nov 26 2021 720 Put from last week’s spreads.
No additional spread requirement because of my existing call spreads
Stock is 1080
Markets
Some retailers getting crushed
ANF -17%
BBY -16%
URBN -14%
DKS -10%
and a non retail stock
ZM -19%
TQQQ early Call rollups
Because it’s a holiday week and rolls will be tougher in a typically quiet day on Wednesday and a shortened trading day on Friday, I’m taking advantage of a weak market to improve some positions for next week.
Bought to close 1 TQQQ Nov 26 2021 144.0 Call at $20.97. Sold last Thursday on a roll at $26.64.
Sold to Open 1 TQQQ Dec 03 2021 145.0 Call at $21.30 for a credit of $0.33 and a point higher on the strike.
Bought to Close 1 TQQQ Nov 26 2021 159.0 Call at $8.03. Sold last Thursday on a roll at $12.64.
Sold to Open 1 TQQQ Dec 03 2021 162.0 Call at $8.74 for a $0.71 Credit and a 3 point higher strike.
VXX
Sold VXX Nov 26 2021 22.5 Covered Calls at $0.32, $0.33 and $0.34
TNA Put
Sold 1 TNA Nov 26 2021 93.0 Put at $1.72, replacing a 98 put that expired Friday and paired with a short 103 call for this week.
LABU Put
Sold 1 LABU Nov 26 2021 45.0 Put at $1.55.
The strike is below the current 52-week low
VXX
Running at the end of the day
Sold VXX Nov 26 2021 22.0 Covered Calls at $0.45
Sold VXX Nov 26 2021 22.5 Covered Calls at $0.31
Sold VXX Nov 26 2021 23.0 Covered Calls at $0.23
TMUS stock
Started a tiny position in TMUS at $114.00, at a new 52-week low.
Goes along with my T and VZ positions
#Sp500 #FallingKnife
TSLA – rolling the long out and up
Sold to close 1 TSLA Dec 17 2021 960.0 Call at $237.87. Bought it at $13.58 as the long on a diagonal call spread.
Replaced it with a less expensive long to give me an extra month of rolling my short calls while pulling some cash out of the position.
Bought 1 TSLA Jan 21 2022 1,250.0 Call at $97.62
PYPL stock
Started a tiny new position in PYPL at what was a new low at $189.00. It’s lower now
#SP500 #FallingKnife
RIVN
New Diagonal Put spread
Bought 1 RIVN Jan 21 2022 65.0 Put / Sold to Open 1 RIVN Nov 26 2021 100.0 Put at $0.40 Net Credit
TNA Call
Sold 1 TNA Nov 26 2021 103.5 Diagonal Call Net at $2.10, replacing part of the 99 and 100 calls that expired Friday
ATVI Stock
Added to my tiny ATVI stock position at $60.00.
#SP500 #FallingKnife
RIVN TSLA
Moving in opposite directions
Sold 1 RIVN Nov 26 2021 105.0 Diagonal Put at $2.30, replacing the 130 Put I covered at a nickel on Friday
Sold 1 TSLA Nov 26 2021 1,250.0 Diagonal Call at $10.55, replacing the 1160 Call I covered at a penny on Friday.
TSLA Call Covered
It took until the end of the day but
Bought to close TSLA 11/19/2021 1160.0 Diagonal Call at $0.01. Sold last Friday at $6.47 on a #DoubleDip write against a December long call
OptionsExpiration
As with any major monthly expiration a lot of old long calls and puts from old spreads rolled off. In most cases I was able to get one more week of writing against them since they were worthless coming into this week.
A fresh slate on Monday with a lot less risk.
==EXPIRED==
AMC 11/19/2021 95/48 Bear Call Spread
AMC 11/19/2021 65/47 Bear Call Spread
AMC 11/19/2021 20/39 Bull Put Spreads
LABU 11/19/2021 90/56.0 Bear Call Spread
LABU 11/19/2021 85/56.0 Bear Call Spreads
LABU 11/19/2021 56.0 Diagonal Calls
LABU 11/19/2021 35/49 Bear Call Spreads
LABU 11/19/2021 48.0 Diagonal Puts
SLV 11/19/2021 23.5 Diagonal Calls
SLV 11/19/2021 18/22.5 Bull Put Spreads
TLRY 11/19/2021 20/15.5 Bear Call Spreads
TLRY 11/19/2021 15.0 Diagonal Calls
TLRY 11/19/2021 15.0 Covered Calls
TNA 11/19/2021 98.0 Diagonal Puts – threaded the needle here
TNA 11/19/2021 99.0 Diagonal Calls – here too
TNA 11/19/2021 100.0 Diagonal Calls
TNA 11/19/2021 114.0 Diagonal Calls
TQQQ 11/19/2021 70/155.0 Bull Put Spread
TQQQ 11/19/2021 70/156.0 Bull Put Spread
TQQQ 11/19/2021 75/157.0 Bull Put Spread
TQQQ 11/19/2021 110/158.0 Bull Put Spread
TQQQ 11/19/2021 110/159.0 Bull Put Spread
VXX 11/19/2021 63/25 Bear Call Spreads
VXX 11/19/2021 62/25 Bear Call Spreads
VXX 11/19/2021 61/24 Bear Call Spreads
VXX 11/19/2021 60/24 Bear Call Spreads
VXX 11/19/2021 59/23 Bear Call Spreads
VXX 11/19/2021 34/22.5 Bear Call Spreads
VXX 11/19/2021 22.5 Covered Calls
VXX 11/19/2021 22.0 Covered Calls
VXX 11/19/2021 21.5 Covered Calls
LABU Puts
Rolled these down 5 points last week, rolling them down 3 points more now
Bought to Close LABU Nov 19 2021 50.0 Puts/ Sold to Open LABU Nov 26 2021 47.0 Puts at $0.05 Credit.
The new strike is below the 52-week low.
My 49 and 48 puts are about to expire along with my 56 Calls
RIVN put closed
Bought to close 1 RIVN Nov 19 2021 130.0 Put at $0.05. It won’t trade any lower
Sold as part of a Jan/Nov Diagonal spread earlier this week at $2.32.
Still have the long to write against next week
VXX Calls
Continuing to roll some covered calls, this time up a bit.
Bought to close VXX Nov 19 2021 22.5 Calls at $0.01. Sold on 11/15 at $0.21 and $0.22
Sold to Open VXX Nov 26 2021 23.0 Calls at $0.23 & $0.24.
KOLD Puts Rolled down – again
Bought to close KOLD Nov 19 2021 7.0 Puts at $0.03. Sold in October as a #DoubleDip write at $1.42.
Sold to Open KOLD Dec 17 2021 6.0 Puts at $0.74.
Bought to close KOLD Nov 19 2021 6.0 Puts at $0.03. Sold in October as a #DoubleDip write at $0.90
Sold to Open KOLD Dec 17 2021 5.0 Puts at $0.49.
My long puts are May 2022 3.0 and 4.0.
T stock
Added to my tiny T stock position at a fresh 52-week low at $24.00
Low forward P/E, high divvy down here.
My chart only goes out 5 years and this is as low as it’s been.
#SP500 #FallingKnife
TSLA Puts
Bought to close 1 TSLA Nov 19 2021 840.0 Put at $0.01. Sold this on Monday at $2.06
Bought to close 1 TSLA Nov 19 2021 835.0 Put at $0.01. Sold this on Monday at $1.78
Both were #DoubleDip writes against leftover longs from earlier diagonal spreads
Markets
15 of the top 20 losers in the #SP500 are Oil and Gas related stocks
Questions about continued demand if worldwide lockdowns reappear.
Most of these set their highs for the year within the last 30 days.
VXX Calls
Just starting to roll some covered calls
Bought to close VXX Nov 19 2021 22.5 Calls at $0.03. Sold on 11/15 at $0.20.
Sold to Open VXX Nov 26 2021 22.5 Calls at $0.38
TFX Stock
Bought a tiny bit of TFX at 327.66, at a fresh 52-week low
#SP500 #FallingKnife
VXX Long term
Bought to open VXX Jan 19 2024 5.0 Put at $0.90
#VXXContango purchase
RIVN Put Rolled
Bought to close 1 RIVN Nov 19 2021 130.0 Diagonal Put / Sold to Open 1 RIVN Nov 26 2021 120.0 Put at $0.20 Credit and jumped the short strike down 10 points.
I’ll ride one more of these 130.0 Diagonal Puts into tomorrow’s expiration
VXX Put Rolls
Rolled VXX 24.5 Puts to next week’s 24.5 Puts for $0.12 Credit
Rolled VXX 24.0 Puts to next week’s 24.0 Puts for $0.15 Credit
Rolled VXX 22.5 Puts to next week’s 22.5 Puts for $0.30 Credit
Rolled down VXX 21.5 Puts to next week’s 21.0 Puts for $0.02 Credit
TQQQ Call Rolls
Rolled This week’s calls to next week
Rolled 144.0 Call to 144.0 Call for $0.16 Credit
Rolled 149.0 Call to 150.0 Call for $0.65 Debit ( no 149 strike for next week) -bumped the strike up a point
Rolled 159.0 Call to 159.0 Call for $0.98 Credit
Rolled 161.0 Call to 162.5 Call for $0.05 Credit – bumped the strike up 1.5 points
Rolled 166.0 Call to 169.0 Call for $0.14 Credit – bumped the strike up 3.0 points
TQQQ early Call assignment
I got assigned overnight on 1 short TQQQ Nov 19 2021 125.0 Call.
To take care of the short stock I exercised my own long TQQQ Nov 26 160.0 Call. Paid $0.88 for it on 10/11.
One less thing to worry about tomorrow.
#CantWinThemAll
RIVN Options
Weeklys now trading
Just in time as I will likely have to roll my short puts tomorrow
CAG CTXS FLT MKTX Stock
Market is up but four #SP500 stocks opened at new lows
Bought CAG at $31.68 – first purchase
Bought CTXS at $85.00 – avg. cost at $89 (stock is now below the 3-year and Covid low)
Bought FLT at $229.00 – first purchase
Bought MKTX at $380.00 – avg. cost at $400
#Fallingknife times 4
TSLA – closing long call
Finally dumped the extra long TSLA December call left over from a successful diagonal trade from late October.
Here’s how it went down:
10/27 Bought TSLA Dec 1250 Call @ 29.20
10/27 Sold TSLA 10/29 1050 Call @ 31.80
10/29 Bought TSLA 10/29 1050 Call @ 53.21
10/29 Sold TSLA 11/05 1080 Call @ 53.80
11/04 Bought TSLA 11/05 1080 Call @ 153.43
11/04 Sold TSLA 11/12 1100 Call @ 155.93
11/12 Bought TSLA 11/12 1100 Call @ 0.02
11/17 Sold TSLA Dec 1250 Call @ 30.00
#WinWin
TQQQ Put Scalps
Sold TQQQ Nov 19 2021 158.0 Put at $0.27
Sold TQQQ Nov 19 2021 159.0 Put at $0.37
Hoping TQQQ tests these levels on Friday to help my call positions.
WU Stock
Added to my WU position at the old 52-week low of 16.92
Low P/E, High Divvy down here.
#Sp500 #FallingKnife
RIVN Diagonal Put
Bought to Open 1 RIVN Jan 21 2022 70.0 Put / Sold to Open 1 RIVN Nov 19 2021 130.0 Put at $0.15 Net Credit.
If the stock stays above 130 for 2 more days I’ll have a “free” lottery ticket long put for 2 more months
Markets
FDX Stock
Sold off my first tiny lot of FDX stock at $255.25. Bought on 09/22/2021 at $230.00.
I made two more buys around #Earnings at $225.00 and $220.00.
#SP500
Former #FallingKnife
ZBH –
Added to my tiny ZIMMER BIOMET stock position at a new low of $130.00
#SP500 #FallingKnife
RIVN Options
Begins trading today
Monthlys only so far.
High strike at 220, Low strike at 70 for November, December.
Also Jan, Mar, Jun 2022 options and Jan 2023 and 2024
LABU Puts
Sold LABU Nov 19 2021 48.0 Puts Limit at $0.70.
I was certainly correct in rolling down last week’s Puts by 5 points.
LABU 6-month low is 47.26
KOLD Early Roll
Bought to close 1 KOLD Nov 19 2021 5.0 Put / Sold to Open 1 KOLD Dec 17 2021 5.0 Put at $0.45 Credit.
Put is sold against long KOLD May 3.0 & 4.0 Puts.
#OnlySpreads
BOIL must be spiking up today
AMC TLRY VXX
Sold 1 AMC Nov 19 2021 47.0 Call at $0.66
Sold 1 AMC Nov 19 2021 48.0 Call at $0.66
Sold TLRY Nov 19 2021 15.0 Diagonal Calls at $0.53
Sold VXX Nov 19 2021 23.0 Diagonal Calls at $0.20
Sold VXX Nov 19 2021 22.0 Diagonal Calls at $0.32
Sold VXX Nov 19 2021 21.5 Diagonal Calls at $0.39
TSLA
Sold 1 TSLA Nov 19 2021 840.0 Put at $2.06
Sold 1 TSLA Nov 19 2021 835.0 Put at $1.78.
#DoubleDip writes against leftover longs from last week’s diagonal Put spreads.
VXX Calls
Sold VXX Nov 19 2021 22.5 Covered Calls at $0.23 average price.
This strike is also where my largest short put position is, so I would welcome a move over 22.50
TNA
Sold TNA Nov 19 2021 98.0 Puts at $0.59.
Paired with existing short TNA 100.0 Diagonal calls for this week.
Last week’s low on TNA was 103.18
TQQQ
Sold 1 TQQQ Nov 19 2021 157.0 Put at $1.31.
Paired with existing short TQQQ 161.0 Diagonal call for this week.
Last week’s low on TQQQ was 156.50
OptionsExpiration
== Expired ==
AMC 11/12/2021 48.0 Diagonal Call
AMC 11/12/2021 53.0 Diagonal Call
AMC 11/12/2021 60.0 Diagonal Call #Earnings
LABU 11/12/2021 65/60 Bear Call Spread
LABU 11/12/2021 62.0 Diagonal Call
LABU 11/12/2021 63.0 Diagonal Call
LABU 11/12/2021 66.0 Diagonal Call
TQQQ 11/12/2021 147.0 Diagonal Puts
TSLA 11/12/2021 695/840 Bull Put Spread
TSLA 11/12/2021 740/840 Bull Put Spread
VXX 11/12/2021 23.0 Covered Calls
VXX 11/12/2021 56/23 Bear Call Spreads
== Assignments ==
SLV 11/12/2021 23.0 Covered Calls (was assigned the stock about a month ago on a 23 strike short Put)
TSLA Call Rollup
Bought to close 1 TSLA Nov 12 2021 1,100.0 Call at $0.02. Sold on a rollup last week at $155.93
Sold to Open 1 TSLA Nov 19 2021 1,160.0 Call at $6.47.
Last TSLA trade for today.
LABU Put Rolldown
Decided not to wait to see if the 54 puts are going to expire
Bought to close LABU Nov 12 2021 54.0 Puts at $0.42. Sold this week at $0.74.
Sold to Open LABU Nov 19 2021 49.0 Puts at $0.72.
My short calls will expire though.
TSLA Puts
Bought to Close 2 of my 4 TSLA Nov 12 2021 840.0 Puts at $0.01.
Sold on 11/08 and 11/09 at $2.55 and $3.56.
This leaves me long a couple of fully paid for “lottery ticket” puts for next week.
TSLA Calls
Bought to close 1 TSLA Nov 12 2021 1,235.0 Diagonal Call at $0.01.
Sold on a rollup last Friday at $42.90.
Leaves me with an extra (fully paid for) December long Call to write against again.
Also Rolled another call
Bought to close 1 TSLA Nov 12 2021 920.0 Call at $100.57. Sold on a roll last week at $317.43
Sold to open 1 TSLA Nov 19 2021 930.0 Call at $102.17
LABU Put Rolldown
Bought to close LABU Nov 12 2021 55.0 Puts at $0.58. Sold earlier this week at $0.70
Sold to Open LABU Nov 19 2021 50.0 Puts at $0.73
I still have 54.0 puts that I hope will expire, plus calls at 60 and above.
SLV TLRY Call Rollups
Bought to Close TLRY Nov 12 2021 15.0 Calls at $0.01. Sold earlier this week at $0.08 and $0.15.
Sold to Open TLRY Nov 19 2021 15.5 Calls at $0.15.
Bought to Close SLV Nov 12 2021 23.0 Calls/ Sold to Open SLV Nov 19 2021 23.5 Calls at $0.02 Credit.
TNA TQQQ Call Rolls
Bought to close TNA Nov 12 2021 107.5 Calls at $1.05. Sold last Friday at $5.15 on another roll.
Sold to Open Contracts TNA Nov 19 2021 114.0 Calls at $1.07
Rolled this week’s TQQQ 137.0 call to next week for a $0.15 Credit.
VXX Call Rollup
Bought to close VXX Nov 12 2021 23 Calls at $0.06. Sold earlier this week at $0.39
Sold to Open VXX Nov 19 2021 24.0 Calls at $0.29.
GPN stock
Added a tiny bit to my GPN stock position at a new low of $128.61.
#SP500 #FallingKnife
SLV Put Rolldown
Bought to close SLV Nov 12 2021 23.0 Puts / Sold to Open SLV Nov 19 2021 22.5 Puts at $0.02 Credit.
Waiting to see if my SLV 23.0 Covered Calls get assigned tomorrow.
TNA early Rollup
The market seems to have stabilized about 2:45.
Doing another early roll while it is still down
Bought to close TNA Nov 12 2021 98.0 Calls at $6.68. Sold last week on a roll at $14.75
Sold to Open TNA Nov 19 2021 100.0 Calls at $6.73
TQQQ early Rollup
Another one while the market is down
Bought to Close 1 TQQQ Nov 12 2021 147.0 Call at $13.00. Sold last week on a roll at $25.20
Sold to Open 1 TQQQ Nov 19 2021 149.0 Call at $13.05.
PENN Stock
Started a tiny new position in PENN at $56.00.
#SP500 #FallingKnife at a new low
LABU Puts
Sold LABU Nov 12 2021 54.0 Puts at $0.74. Paired with short calls for this week at 60 and above.
VXX Calls
Bought to Close VXX Nov 12 2021 24.5 Calls at $0.17. Sold these just yesterday at $0.19 and $0.20.
Sold to Open VXX Nov 19 2021 25.0 Calls at $0.57 with the strike $0.50 higher and a Net Credit of $0.40 extra cash
TQQQ Puts
Scalp Trade
Sold TQQQ Nov 12 2021 147.0 Puts @ 0.25
TQQQ Early Call rollup
Bought to close 1 TQQQ Nov 12 2021 156.0 Call at $7.55. Sold last week on a roll at $11.75
Sold to Open 1 TQQQ Nov 19 2021 159.0 Call at $7.70
VXX Early Put rolldown
The VIX quickly gave up most of yesterday’s gain this morning so rolling my largest short Put position down for a small credit to next week. Market declines only last a day anyway it seems.
Bought to close VXX Nov 12 2021 23.0 Puts at $2.04. Sold last week at $3.63 on another roll.
Sold to Open VXX Nov 19 2021 22.5 Puts at $2.09
TSLA
With the stock down 133 points, some levered accounts should be getting margin calls about now.
We could be going lower as levered longs unwind.
ZBH Stock
Started a tiny new position in ZBH at 134.00, a new 52 week low.
#SP500 #FallingKnife
Options Bistro 