On Tuesday afternoon I Bought to Open 1 TSLA May 21 2021 975 Call / Sold to Open 1 TSLA Apr 16 2021 775 Call at $1.20 Net Credit.
Today I closed both sides @ $5.80 Credit.
Total gain in 2 days was $7.00 and it frees up significant buying power.
#WinWin with a credit in and another credit out
Author Archives: Option Iceman
LAZR
Anyone still in this one?
#FallingKnife
VXX Calls
Sold to Open VXX 04/16/2021 10.5 Call at $0.19 with the stock at 10.22.
Sold to Open VXX 04/16/2021 11.0 Call at $0.13 with the stock at 10.31.
I’ve got 10.00 an 10.50 short puts on VXX for this week that I would love to see expire so I’m daring the stock to go up.
LABU
Sold 1 LABU 04/16/2021 77.0 Call @ 0.83 to offset some of the risk of holding my short 65.0 Puts until Friday.
Total premium on the 65/77 strangle now at $3.75
VXX – Covering up the rest of the long stock
Sold to Open VXX May 07 2021 14.5 Call at $0.29
Sold to Open VXX May 07 2021 15.0 Call at $0.26
Sold to Open VXX May 07 2021 15.5 Call at $0.23
Sold to Open VXX May 07 2021 16.0 Call at $0.21
Sold to Open VXX Apr 30 2021 14.0 Call at $0.20
Sold to Open VXX Apr 30 2021 14.5 Call at $0.17
#OptionLadder
WFC Calls – closing the long
Sold to close WFC 04/16/2021 42.50 Calls at $0.33
Bought these on 01/22 at $0.21 and again on 02/08 @ $0.23.
They have been acting as long hedges against short diagonal calls since then.
The last of the writes against these were the 40.50 and 41.00 short diagonal calls that expired Friday.
#WinWin
VXX – Covering up a bit more stock
Sold VXX Apr 30 2021 14.0 Call at $0.19
Sold VXX Apr 30 2021 14.5 Call at $0.16
#OptionLadder
TSLA Diagonal Pre-Earnings
Bought to Open 1 TSLA May 21 2021 975 Call / Sold to Open 1 TSLA Apr 16 2021 775 Call at $1.20 Net Credit.
The short is before earnings, the long is after earnings.
TLRY Strangle
Sold TLRY Apr 16 2021 16/20 Strangles at $0.72 Credit
Sold TLRY Apr 16 2021 15/20 Strangles at $0.40 Credit
Stock at 17.50
WFC Puts
Sold to Open WFC Apr 16 2021 38.5 Puts at $0.17. Sold against long May/June puts
LABU
Sold 1 LABU Apr 16 2021 60.0 Put at $1.95 against an existing left over long put from last week’s diagonal.
I would sell a 55 put for this week if it starts trading over a point.
VXX Covered Calls
Sold VXX Apr 23 2021 12.0 Calls at $0.24
Sold VXX Apr 23 2021 12.5 Calls at $0.20
Sold VXX Apr 23 2021 13.0 Calls at $0.17
VXX is at 10.40
#OptionLadder
VXX Contango Payoff
Sold to close 2 VXX 01/21/2022 8.0 Puts @ 1.80
Bought on 06/05/2020 @ 0.98
In the 9 months I’ve held the long I’ve probably recovered the long put cost half a dozen times.
Waiting until after the coming reverse split to start some new #VXXContango strategies.
VTRS
Putting this #FallingKnife on my radar.
Viatris is the combination of Mylan, maker of generic drugs and EpiPen emergency allergic reaction injection, and Pfizer’s (PFE) older drugs business called Upjohn
OptionsExpiration
*Expired*
**Calls*
SQQQ 04/09/2021 16.5 Covered Call
TLRY 04/09/2021 25.5 Diagonal Calls
TLRY 04/09/2021 26.0 Diagonal Calls
VXX 04/09/2021 14.0 Diagonal Calls
VXX 04/09/2021 15.5 Diagonal Calls
WFC 04/09/2021 40.5 Diagonal Calls
WFC 04/09/2021 41.0 Diagonal Calls
**Puts**
LABU 04/09/2021 65.0 Diagonal Puts
TLRY 04/09/2021 19.5/15.0 Bull Put spread
WFC 04/09/2021 37.0 Diagonal Puts
*Assignments*
Unable to profitably roll these forward for another week:
VXX 04/09/2021 22.0 Put (cost basis on resulting the stock 11.26)
VXX 04/09/2021 21.0 Put (cost basis on resulting the stock 11.49)
VXX 04/09/2021 19.5 Put (cost basis on resulting the stock 11.47)
VXX 04/09/2021 19.0 Put (cost basis on resulting the stock 11.46)
I’ll write covered calls weekly to see if I can get out above my basis
LABU Put Roll
Rolled down my LABU Apr 09 2021 70.0 Puts to LABU Apr 16 2021 65.0 Puts @ 0.62 Credit.
At least my 65.0 Puts for today are still looking like they will expire, leaving me with a couple of extra long puts for next week.
TQQQ Call Roll
Rolled up my TQQQ Apr 09 2021 103.5 Call to TQQQ Apr 16 2021 107.0 Call at $0.07 Credit.
Pushed it from In the money to out of the money for next week.
VXX Puts – closing some small longs
Sold to close 1 VXX 09/17/2021 10.0 Put @ 2.25. Bought on 09/04/2020 @ 0.70.
Sold to close 1 VXX 06/18/2021 10.0 Put @ 1.37. Bought on 05/08/2020 @ 0.65.
Sold to close 1 VXX 06/18/2021 9.0 Put @ 0.75. Bought on 06/30/2020 @ 0.40.
Rounding out my positions preparing for the coming split.
VXX Reverse split
Barclays Bank PLC Announces Reverse Split of the iPath ® Series B S&P 500 ® VIX Short-Term Futures™ ETNs
Barclays Bank PLC (“Barclays”) announced today that it will implement a 1 for 4 reverse split of its iPath ® Series B S&P 500 ® VIX Short-Term Futures ™ ETNs (CUSIP: 06746P621) (the “ETNs”) which it intends to be effective at the open of trading on Friday, April 23, 2021. The ETNs currently trade on the CBOE BZX Exchange (“CBOE”) under the ticker symbol “VXX.”
VXX Puts
New #VXXContango Trade.
Bought to Open VXX Jun 17 2022 3.0 Puts / Sold to Open VXX Apr 16 2021 10.0 Puts at $0.05 Net Credit.
Short DTE = 8
Long DTE = 435
VXX at 10.31
TSLA Diagonal Closed
On Monday I bought to Open 1 TSLA May 21 2021 900.0 Call / Sold to Open 1 TSLA Apr 09 2021 725.0 Call @ 0.60 Credit.
Today I closed both sides @ $5.60 Credit.
Total gain in 3 days was $6.20 and it frees up significant buying power.
#WinWin with a credit in and another credit out
VXX Puts
My short strike price finally caught up to the strike on my existing long term puts left over from earlier #VXXContango Trades.
Sold VXX 04/16/2021 10.0 Puts @ 0.20.
Sold against existing long June 10 and September 10 Puts.
LABU
Last new positions for this week in this stock.
Sold LABU 04/09/2021 65.0 Puts @ 0.65.
LABU at 73.75.
2 DTE
TLRY
Sold TLRY 04/09/2021 19.50 Puts @ 0.52.
Stock at 20 and at the March/April low.
#FallingKnife
LABU
Sold 1 LABU Apr 09 2021 70 Put at $1.05. Adding to my position.
I still have extra long Puts from earlier diagonal spreads.
TSLA Diagonal Pre-earnings
Bought to Open 1 TSLA May 21 2021 900.0 Call / Sold to Open 1 TSLA Apr 09 2021 725.0 Call @ 0.60 Credit.
The short is before earnings, the long is after earnings.
Gained about 1.20 on the spread prices by today’s close.
#BoredToDeath Trade
VXX – Closing a long Put position
Sold to close VXX Apr 16 2021 10.0 Puts @ 0.15 & 0.16
Purchased this lot on January 27th @ 0.06 and have been writing against them since then.
I am scaling out of these and when they are gone I’ll start writing them
I’m still long June/September/Jan 2022/Jun 2022 Puts that I continue to write against.
UVXY – Closing a long Put position
Sold to close UVXY Apr 16 2021 5.0 Puts @ 0.23.
Purchased these on March 1st @ 0.04 while writing March 5th 8.0 Puts against them that ultimately expired.
A #WinWin on a #UVXYContango trade.
I’m still long June 4.0 and 5.0 Puts that I continue to write against.
The next reverse split can’t be too far off with the stock at 5.40
VXX Put Roll
Last Trade today
Bought to close VXX Apr 01 2021 11.5 Puts / Sold to Open VXX Apr 09 2021 11.5 Puts at $0.23 Credit
LABU Put Roll
Bought to close 1 LABU 04/01/2021 75.0 Put @ 0.05. Sold this on a rolldown last Thursday @ $5.92
Replaced it with 1 LABU 04/09/2021 70.0 Put @ $1.25
TLRY
The short calls have done their work for this week, so I covered at a slight gain and rolled them up above some of my short puts for next week.
Bought to close TLRY Apr 01 2021 23.0 Calls at 0.30 average price.
Sold TLRY Apr 09 2021 25.5 Calls at $0.52
Sold TLRY Apr 09 2021 26.0 Calls at $0.50
LABU Scalp
Sold to open LABU Apr 01 2021 85.0 Call at $0.65.
Sold to open LABU Apr 01 2021 90.0 Call at $0.20.
Paired with my 65/70/75 short puts for today
UVXY Roll
Bought to close UVXY Apr 01 2021 6.5 Puts / Sold to Open UVXY Apr 09 2021 6.5 Puts at $0.19 Credit
Bought to close UVXY Apr 01 2021 7.0 Puts / Sold to Open UVXY Apr 09 2021 7.0 Puts at $0.13 Credit
TLRY Put Rolldowns
Bought to Close TLRY Apr 01 2021 25.0 Puts / Sold to Open TLRY Apr 09 2021 24.0 Puts at 0.05 Credit.
Bought to Close TLRY Apr 01 2021 28.0 Puts / Sold to Open TLRY Apr 09 2021 27.5 Puts at 0.05 Credit.
SPY Scalp
Sold SPY Mar 31 2021 399.0 Call Limit at $0.30
VXX Put Rolldown
Rolled VXX Apr 01 2021 13.5 Puts down to VXX APR 16 2021 13.0 Puts @ 0.09 Credit and a $0.50 lower strike.
VXX Contango Special
Bought to Open VXX Jun 18 2021 8.0 Puts / Sold to Open VXX Apr 09 2021 11.0 Puts at $0.11 Credit
VXX at 11.60
Short DTE = 10
Long DTE = 80
VXX Calls and Puts
Sold VXX Apr 09 2021 14.0 Calls at $0.26
Sold VXX Apr 01 2021 11.5 Puts at $0.16
Bought VXX Jan 21 2022 4.0 Puts Limit at $0.05
TLRY Diagonal Calls
In a bid to improve my short Bull put positions I’m entering some Call spreads, daring the stock to go up.
Bought to open TLRY Apr 23 2021 42.0 Calls / Sold to Open TLRY Apr 01 2021 23.0 Calls at $0.04 Credit.
TLRY = 21.50
Short DTE = 2
Long DTE = 24
VXX Calls
Sold VXX 04/01/2021 13.0 Diagonal Calls @ 0.31 & 0.34
These expire Thursday
VIAC Puts
Sold VIAC 04/01/2021 35.0 Put @ 0.39
Sold VIAC 04/09/2021 35.0 Put @ 0.65
LABU Diagonal Put
Bought to open 1 LABU Apr 30 2021 40.0 Put / Sold to Open 1 LABU Apr 01 2021 60.0 Put at 0.40 Credit.
LABU = 71
Short DTE = 3 (no trading Friday)
Long DTE = 32
VIAC Diagonal Put
Bought to open 1 VIAC Apr 16 2021 30.0 Put / Sold to open 1 VIAC Apr 01 2021 40.0 Put @ 0.71 Credit
VXX Call Rollups
Bought to close VXX Mar 26 2021 13.0 Calls / Sold to Open VXX Apr 01 2021 13.5 Calls at $0.19 Credit
Bought to close VXX Mar 26 2021 13.5 Calls / Sold to Open VXX Apr 01 2021 14.0 Calls at $0.15 Credit
**Partial positions
TLRY Put Roll
Bought to close TLRY Mar 26 2021 25.0 Puts / Sold to Open TLRY Apr 01 2021 25.0 Puts @ 0.49 Credit
GME Spread Roll
On Wednesday I sold 1 GME Mar 26 2021 250 / 200 Bear Call Spread at $1.37 Credit after earnings with GME at 150.
Now that the stock is up to the 200 short strike I’m rolling the entire spread up.
Bought to close 1 GME Mar 26 2021 250.0/200.0 Bear Call Spread @ $6.57 Debit and
Sold to open 1 GME Apr 01 2021 300.0/250.0 Bear Call Spread @ $6.86 Credit.
I’ll have to wait another week but the short strike is 50 points higher.
Meanwhile I have short strike 80 and 50 puts expiring today.
VXX Calls
Bought to close VXX Mar 26 2021 12.5 Calls Limit at $0.01. They won’t trade any lower.
Sold on 3/23 at an average price of 0.35
AMC Roll
Bought to close AMC Mar 26 2021 15.5 Call / Sold to Open AMC Apr 01 2021 15.5 Call at $0.40 Credit.
VXX & UVXY Put Rolls
Bought to close UVXY Mar 26 2021 6.5 Puts / Sold to Open UVXY Apr 01 2021 6.5 Puts at $0.18 Credit.
Bought to close VXX Mar 26 2021 13.0 Puts / Sold to Open VXX Apr 01 2021 13.0 Puts at $0.15 Credit.
LABU
Bought to close 1 LABU Mar 26 2021 75.0 Put at $0.97. Sold this on 3/23 @ 1.31.
To replace it I sold to open 1 LABU Apr 01 2021 65.0 Put at $1.27. The new strike is outside the recent trading range and 10 points lower.
LABU rolldown
Thanks to a nice bounce in LABU today I was able to do a significant rolldown to next week.
Bought to Close 1 LABU Mar 26 2021 80.0 Put / Sold to Open 1 LABU Apr 01 2021 75.0 Put at $0.30 Credit.
Also – Bought to open 1 LABU Apr 23 2021 45.0 Put / Sold to Open 1 LABU Mar 26 2021 70.0 Put @ 0.09 Credit to grab some additional time premium for this week.
I’ve got 105 & 110 short Calls expiring tomorrow as well.
VXX Calls
Rolled down my VXX Mar 26 2021 15.0 Calls to VXX Mar 26 2021 13.0 Calls for a $0.30 additional Credit.
VXX Calls
Rolled down my VXX Mar 26 2021 16.0 Calls to VXX Mar 26 2021 13.5 Calls for a $0.17 additional Credit
Rolled down my VXX Mar 26 2021 15.5 Calls to VXX Mar 26 2021 13.0 Calls for a $0.25 additional Credit.
I’ve got short puts at those strike too so now they are straddles for tomorrow.
REGN Put
SPY
Sold to open 1 SPY Mar 26 2021 385 Put at $1.14.
2 DTE
VXX Calls
Sold VXX Mar 26 2021 13 Calls Net Credit at $0.18
VXX at 12.50
GME Calls
Bought to open 1 GME Mar 26 2021 250 Call / Sold to Open 1 GME Mar 26 2021 200 Call at $1.37 Credit.
GME is at 150.
No additional Margin because I was already short a 30/80 put spread with the same requirements.
Maybe the earnings report brought home a bit of reality for the crazy bullish traders.
LABU Put Spread & re-write
Bought to open 1 LABU Apr 23 2021 55 Put / Sold to Open 1 LABU Mar 26 2021 80.0 Put at $0.55 Credit.
This pairs off with the LABU Call spreads I sold yesterday at 105 & 110
LABU is 85, down almost 19 points.
Also sold 1 LABU Mar 26 2021 75.0 Put at $1.31 against a long April 45.0 Put left over from an earlier spread.
#DoubleDip
GME Put
Sold 1 GME Mar 26 2021 50.00 Put @ 0.52.
GME is 181 right now
VXX Calls
Sold VXX Apr 16 2021 18.0 Calls at $0.29
Sold VXX Apr 09 2021 15.5 Calls at $0.33
Sold VXX Apr 01 2021 13.5 Calls at 0.30, 0.31 & 0.32
Sold VXX Mar 26 2021 12.5 Calls at $0.26, 0.37 & 0.38
Sold VXX Mar 26 2021 13.5 Call at $0.12 & 0.13
Paired off with short put spreads and sold against May long calls.
GME Put Spread
Bought to open 1 GME Apr 30 2021 30.0 Put / Sold to Open 1 GME Mar 26 2021 80.0 Put at $0.30 Credit
SPY
Sold 1 SPY Mar 24 2021 395 Call at $1.11 against some April long calls left over from old spreads.
#DoubleDip
LABU
Sold 1 LABU Mar 26 2021 110 Call at $3.20 against my existing long April 135 Call.
#DoubleDip as last week’s short strike 100 call expired Friday.
LABU New Diagonal
Bought to open 1 LABU Apr 23 2021 135 Call / Sold to Open LABU Mar 26 2021 105 Call @ 1.30 Credit.
LABU is at 101
GME – Exit the long Call
Sold to close 1 GME Mar 26 2021 350 Call at $6.55
On Wednesday, March 10, 2021 I set up a GME Diagonal Call Spread:
Bought to open 1 GME Mar 26 2021 350.0 Call / Sold to Open 1 GME Mar 19 2021 250.0 Call @ 7.63 Credit.
The short position expired Friday.
Total Credit = 14.18
Options Expiration
Free Lottery tickets that didn’t pay off –
Along with all the short positions listed below, a lot of old long hedges(fully paid for by earliers short positions) are rolling off today.
My account positions page will look much cleaner after today:
AMC 2.0 Puts, GILD 42.50/45.0/47.50 Puts, GME 6.0 Puts, INTC 22.50/27.50 Puts/ SLB 35.0/37.50 Calls / TLRY 13.0/14.0/17.0 Puts / UVXY 6.0 Puts / VXX 45/50/52/54/55/59/60 Calls & 10/11 Puts / WFC 47.50 Calls
== Shorts Expiring ==
CALLS:
GME 03/19/2021 230/300 Bear Call Spread
GME 03/19/2021 250.0 Diagonal Call
GME 03/19/2021 290.0 Diagonal Call
LABU 03/19/2021 100.0 Diagonal Call (barely)
SLB 03/19/2021 30.0 Diagonal Calls
SPY 03/19/2021 399/401 Bear Call Spread
SPY 03/19/2021 391.0 Diagonal Call
TLRY 03/19/2021 30.0 Diagonal Calls
TLRY 03/19/2021 32.50 Diagonal Call
VXX 03/19/2021 23.0/13.50 Bear Call Spreads
VXX 03/19/2021 25.0/14.00 Bear Call Spreads
VXX 03/19/2021 34.0/14.50 Bear Call Spreads
VXX 03/19/2021 35.0/15.00 Bear Call Spreads
VXX 03/19/2021 36.0/15.50 Bear Call Spreads
VXX 03/19/2021 37.0/16.00 Bear Call Spreads
VXX 03/19/2021 38.0/16.00 Bear Call Spreads
PUTS:
GME 03/19/2021 10.0/110.0 Bull Put Spread
GME 03/19/2021 6.0/50.0 Bull Put Spread
GME 03/19/2021 6.0/45.0 Bull Put Spread
PRGO 03/19/2021 37.50 Short Put
SPY 03/19/2021 387.0 Diagonal Put
TQQQ 03/19/2021 50.0/61.0 Bull Put Spread
TQQQ 03/19/2021 62.0 Diagonal Put
VTRS 03/19/2021 12.50 Short Puts
== Assignments ==
WFC 03/19/2021 29.0 Covered Calls
GME Call Spread finally works
Two weeks ago I put on a GME Bearish Diagonal spread
Bought 1 GME 03/19/2021 300 Call / Sold 1 GME 03/12/2021 200 Call @ 4.40 Credit.
Last Friday I rolled up the short that was in the money:
Bought to close GME Mar 12 2021 200.0 Call / Sold to Open 1 GME Mar 19 2021 230.0 Call @ 2.20 Credit.
So the total Credit was 6.60
I could close the short 230.0 Call @ 0.01 but with only 5 minutes until the close I think I’ll let it expire.
AMC Calls
Bought to close 1 AMC 03/19/2021 14.00 Diagonal Call @ 0.01. Sold @ 1.70 this week.
GME
About an hour to go and I’m still waiting to cover my 230, 250 and 290 short calls
Geesh!
GME at 206
TLRY Put Rolldown
Bought to close TLRY Mar 19 2021 27.0 Puts / Sold to Open TLRY Mar 26 2021 25.0 Puts @ 0.18 Credit plus a 2 point drop in the short strike.
That puts the strike from an in the money to an out of the money position for next week.
I’ve also got TLRY 30 and 32.5 short calls expiring today 🙂
TQQQ
Bought to close 1 TQQQ Mar 19 2021 63 Put at $0.01. Sold at 1.06 on 03/03.
Letting my short 62 put and short 61 put expire.
VXX Puts Closed
Bought to close VXX 03/19/2021 12.50 Puts @ 0.01. They won’t trade any lower.
Sold at an average of 0.15 over the last week.
Also liquidated my long VXX 03/19/2021 14.0 Puts @ 0.73.
Bought these 09/09/2020 @ 0.64 & 0.71 and 10/08/2020 @ 0.56 and have been writing WEEKLY against them ever since.
UVXY Puts Rolled
Bought to Close UVXY Mar 19 2021 7.5 Puts / Sold to Open UVXY Mar 26 2021 7.0 Puts @ Even but a 0.50 lower strike.
Not a lot of risk here since my long hedges are April and June 5.0 Puts
TQQQ
Bought to close TQQQ Mar 19 2021 65 Puts at $0.01. Sold at 1.45 average price on 03/03/2021
LABU
What happened???
90.68 -15.23 (-14.38%)
