Bought to close VXX Mar 19 2021 13.50 Puts / Sold to Open VXX Mar 26 2021 13.00 Puts at even money
The extra 0.50 on the short strike makes a big difference in the breakeven.
VXX range today was 12.86 to 13.33 so far.
Author Archives: Option Iceman
UVXY put rolldown
Bought to close UVXY Mar 19 2021 7.00 Puts / Sold to Open UVXY Mar 26 2021 6.5 Puts at $0.02 Credit.
Not waiting to see if the 7.0 Puts might expire tomorrow and the extra 0.50 on the short strike makes a big difference in the breakeven.
UVXY range today was 6.59 to 7.17 so far.
TQQQ
Bought to open 1 TQQQ Apr 30 2021 50 Put / Sold to Open 1 TQQQ Mar 26 2021 76 Put at $0.20 Credit.
I expect to get several writes against the long Put.
Short DTE = 8
Long DTE = 43
TQQQ is at 88
SPY Bull Diagonal
Bought to open 1 SPY Apr 09 2021 355.0 Put / Sold to Open 1 SPY Mar 19 2021 387.0 Put @ 0.07 Credit.
I should be able to get 4 or 5 re-writes against this long put if the first one expires Friday.
VXX Calls
The Fed killed the VIX rally and spiked the market higher. So I sold another set of calls against calls already long in the account and due to expire Friday:
VXX Mar 19 2021 13.50 Calls @ $0.40
VXX Mar 19 2021 14.00 Calls @ $0.28
VXX Mar 19 2021 14.50 Calls @ $0.19
VXX Calls
One last set of writes against calls already long in the account and due to expire Friday:
VXX Mar 19 2021 14.0 Calls @ $0.27
VXX Mar 19 2021 14.5 Calls @ $0.20
VXX Mar 19 2021 15.0 Calls @ $0.16
VXX Mar 19 2021 15.5 Calls @ $0.12
VXX Mar 19 2021 16.0 Calls @ $0.10
UVXY
The next split is overdue
Date / Ratio
03/08/2012 — 1 for 6
09/07/2012– 1 for 10
06/10/2013 — 1 for 10
01/24/2014 — 1 for 4
05/20/2015– 1 for 5
07/25/2016– 1 for 5
01/12/2017 — 1 for 5
07/17/2017– 1 for 4
09/18/2018– 1 for 5
GME Put
Sold 1 GME Mar 19 2021 45.0 Put at $0.38
SPY Rollup
A late surge forced me to roll this again
Bought to close 1 SPY Mar 15 2021 396.0 Call / Sold to Open 1 SPY Mar 17 2021 398.0 Call @ 0.58 Credit.
At 3:30 SPY was below 394.60 but rallied 2 points on 30 minutes
GME Puts
Sold to close 1 GME Mar 19 2021 90.0 Put @ 2.87. Bought it Thursday @ 2.85. So just a breakeven.
It was a hedge against a GME 03/12/2022 195.0 Put was sold Thursday @ 2.65 and that expired Friday.
Another #WinWin Spread
TLRY
Friday I closed out some TLRY MAR 12 2021 $28.0 short calls @ 0.01 right at the market close.
Today I dumped part of the long position that was hedging the short.
Sold to close TLRY Apr 01 2021 60 Call at $1.37 for a nice gain.
Another #WinWin spread
VXX
Sold VXX Mar 19 2021 13.5 Puts at $0.26.
I’m long the 14 puts for this week already
GME Put
Sold 1 GME MAR 19 2021 $50.0 PUT @ 0.52
TLRY
Sold 1 TLRY 03/19/2021 32.50 Diagonal Call @ 1.19. This pairs off with the 32.50 Put I’m already short.
AMC
Closed out the long hedge I had against last Friday’s AMC strike 12 Calls that expired worthless.
Sold to close AMC Apr 01 2021 22.0 Calls at $1.03. Bought them at 0.90 and 1.01 on 03/10
#WinWin on both sides of the spread.
UVXY Put Rolldown
Bought to close UVXY Mar 12 2021 8.0 Puts/ Sold to Open UVXY Mar 19 2021 7.5 Puts @ 0.05 Credit
GME Call Rollup
Bought to close GME Mar 12 2021 200.0 Call / Sold to Open 1 GME Mar 19 2021 230.0 Call @ 2.20 Credit
TLRY Call Rollup
Bought to close 1 TLRY Mar 12 2021 26.0 Call / Sold to Open 1 TLRY Mar 19 2021 30.0 Call @ 0.13 Credit but a 4 point bump in the short strike.
VXX Put Rolldown
Bought to close VXX Mar 12 2021 14.5 Puts / Sold to Open VXX Mar 26 2021 13.5 Puts at $0.02 Credit.
Lowered the short strike a point to a price below the all-time low on VXX but had to go out 2 weeks instead of 1.
I did this instead of rolling to the 03/19/2021 14.0 Puts because I’m already long the 14.0 Puts for next week and I want to see how they work out in the end.
I bought them in September and October of last year as the long side of diagonal spreads where the short has long since expired.
TLRY Put Closed
Bought to close 1 TLRY 03/12/2021 24.0 Put @ 0.01. Sold this on a rolldown last Friday @ $4.29
LABU Call Rolled
Bought to close 1 LABU Mar 12 2021 95.0 Call / Sold to Open 1 LABU Mar 19 2021 100.0 Call @ 1.25 Credit plus 5 more points on the short strike for just 1 more week.
TLRY
I had an extra long TLRY April Call so I wrote against it for next week.
Sold 1 TLRY Mar 19 2021 30 Call at $1.48
TLRY is at 26
SPY Call Rollup
Bought to close 1 SPY Mar 10 2021 386.0 Call / Sold to Open 1 SPY Mar 12 2021 387.0 Call @ 0.29 Credit.
I’ve got other SPY positions that will expire today.
TLRY Put Rolldowns
Bought to close 1 TLRY Mar 12 2021 33.0 Put / Sold to Open 1 TLRY Mar 19 2021 32.5 Put @ 0.67 Credit
Bought to close TLRY Mar 12 2021 30.0 Puts / Sold to Open TLRY Mar 19 2021 29.0 Puts @ 0.16 Credit
GME Round Trip
At 11:40 this morning I put on the following GME Bear Call Diagonal
Bought Mar 19 2021 380.0 Call / Sold GME 03/12/2021 280.0 @ 2.60 Credit
Just now (1:42) I closed it out at 13.00 Credit – eliminating a big spread risk in the process
Big #WinWin with a credit in and a credit out
If GME gets back above 330 I’ll look to put something similar on at higher strikes this time.
GME Puts
Sold 1 GME 03/12/2021 45.0 Put @ 0.30
Sold 1 GME 03/12/2021 50.0 Put @ 0.33
Sold 1 GME 03/12/2021 55.0 Put @ 0.60
GME at 260 after falling from 348.50
GME Diagonal
Giving this a extra week and hoping the mania dies away in 10 days or so.
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
Bitcoin options?
https://www.bloomberg.com/news/articles/2021-03-10/a-vix-like-gauge-for-bitcoin-sees-its-first-ever-options-trade
SPY 1 DTE
Sold SPY 03/10/2021 383/392 Strangle @ 1.28 Credit.
Legged in.
UVXY
Sold to Open UVXY Mar 12 2021 8.0 Puts at $0.16.
#DoubleDip write against Long April and June strike 5 puts.
#UVXYContango
UVXY is 8.35
LABU
Bought to open 1 LABU Apr 16 2021 135.0 Call / Sold to Open 1 LABU Mar 12 2021 95.0 Call at $1.55 Credit.
This turns my 45/65 Diagonal Bull Put spread into a Short Calendar Iron Condor Spread with 65 Put/ 95 Call as the short for this week.
Short DTE = 3
Long DTE = 38
GME Crazy trade closed
Bought to close GME Jul 16 2021 2.0 Puts @ 0.02.
Out 4 + months early
Sold to open GME Jul 16 2021 2.0 Puts at $0.37 on Jan 29.
Yes that is the correct strike price.
#GMECrazy
SPY
New Put Diagonal
Bought to open SPY Mar 31 2021 350.0 Put / Sold to Open 1 SPY Mar 12 2021 377.0 Put @ 0.46 Credit.
Extending the long side of the ladder.
SPY Roll
Bought to close 1 SPY Mar 08 2021 383.0 Call / Sold to Open 1 SPY Mar 10 2021 386.0 Call @ 0.40 Credit.
Sold the 383 Call Friday @ 2.81 and covered today @ 1.82
GME
Diagonal
Bought 1 GME 03/19/2021 300 Call / Sold 1 GME 03/12/2021 200 Call @ 4.40 Credit.
Five days is a long time in this stock.
SPY Zero DTE
Sold SPY 03/08/2021 379/389 Strangle @ 1.24
Legged in
SPY Call rollout
I never thought I would be rolling this when SPY was 373 just a few hours ago.
Bought to close 1 SPY 03/05/2021 381.0 Call @ 2.65. Sold this on Wednesday at 6.49
Replaced it with SPY 03/08/2021 383.0 Call @ 2.81
VXX Contango Special
VXX Contango Special
Bought to open VXX Sep 17 2021 7.0 Puts / Sold to Open VXX Mar 12 2021 14.5 Puts @ 0.09 Credit.
Short DTE = 7
Long DTE = 196
VXX @ 15.42
VXX Contango Special
Now that I’m out of all this week’s short puts I’m adding a new spread
Bought to open VXX Jun 18 2021 9.0 Puts / Sold to Open VXX Mar 12 2021 14.5 Puts @ 0.05 Credit.
Short DTE = 7
Long DTE = 105
VXX @ 15.48
SPY Put Rolldown
Bought to close 1 SPY Mar 05 2021 370.0 Put at $0.10. Sold @ 1.43 on 02/26.
Sold to Open 1 Contract SPY Mar 12 2021 363.0 Put @ 1.53.
#TripleDip Sale on my long March 150 Put and 7 points lower (again).
SQQQ Covered Call
Bought to close 1 SQQQ 03/05/2021 17.0 Covered Call @ 0.01. Sold this on 03/04 @ 0.11.
Replaced it with a SQQQ 03/12/2021 17.50 Covered Call @ 0.32
LABU
Bought to open 1 LABU Apr 16 2021 45.0 Put @ 2.28.
Paid for it by selling 1 LABU Mar 12 2021 65.0 Put @ 2.52.
Short DTE = 7
Long DTE = 42
LABU is 77.50
VXX Puts
Bought to close VXX 03/05/2021 15.0 Puts @ 0.01. Sold these last Friday on a rolldown @ 0.63
TLRY Rollout
Bought to close TLRY 03/05/2021 28.0 Straddles and rolled it out a week for a 1.06 Credit
VXX Puts
Bought to close VXX 03/05/2021 15.50 Puts @ 0.12 $ 0.07. Sold these on a rolldown last Friday @1.13.
Replaced them with 03/12/2021 14.50 Puts @ 0.21 & 0.15.
VXX opened at 15.65
UVXY
Bought to close Bought to close UVXY Mar 05 2021 8.50 Puts @ 0.01. They won’t trade any lower.
These started out as Feb 12 strike 10 Puts on 2/04.
Rolled them to Feb 19 strike 9.50 Puts on 02/12.
Rolled them to Feb 26 strike 9.00 Puts on 02/19.
Finally rolled them to Mar 05 strike 8.50 puts last Friday.
All the rolls were for credits and I’m out of my last shorts.
I’m left with some long June 5.0 puts that are slightly above my cost.
TQQQ
A one day scalp using a spread
Bought 1 TQQQ Mar 19 2021 50.0 Put / Sold to Open 1 TQQQ Mar 05 2021 70.0 Put @ 0.14 Credit.
If this decline gets serious I want to be long an extra put after tomorrow’s expiration.
I’m hoping TQQQ won’t drop from 77 to 70 by the close tomorrow.
VXX New Diagonal Calls
Bought to open VXX Apr 16 2021 43.0 Calls / Sold to Open VXX Mar 12 2021 19.5 Calls at $0.04 Credit.
Bought to open VXX Apr 16 2021 42.0 Calls / Sold to Open VXX Mar 12 2021 19.5 Calls at $0.04 Credit.
VXX was at 16.15 for the first trade and 16.30 for the second.
Also rolled out my VXX 03/05/2021 19.5 Puts to next week for 0.30 Credit and
rolled out my VXX 03/05/2021 19.0 Puts to next week for 0.35 Credit.
TQQQ
Sold 1 TQQQ MAR 19 21 $61.0 Put @ 1.28 with TQQQ at 79.50
UVXY
Bought to close UVXY Mar 05 2021 8.00 Puts @ 0.01. They won’t trade any lower.
This was the short side of a #ContangoSpecial trade put on Monday and was sold @ 0.13 for a 0.10 Credit on the spread.
So I’m now long UVXY Apr 16 2021 “lottery ticket” 5.00 Puts for free with more than a month to go.
VXX
Sold to open VXX Mar 12 2021 22.0 Calls at $0.33
Sold to Open VXX Mar 12 2021 21.5 Call at $0.35.
Also rolled out my VXX 03/05/2021 21.0 Puts to next week for 0.25 Credit.
VXX = 15.50
TQQQ
Added a tiny bit more:
Sold TQQQ Mar 19 2021 65.0 Put at $1.70
TQQQ = 83
VIX
up 10% today
VXX Puts
Rolled my VXX 03/05/2021 22.0 Diagonal Puts out to next week for a 0.20 Credit
VXX Spreads
Buy to Open VXX Mar 19 2021 30.0 Calls / Sold to Open VXX Mar 05 2021 17.5 Calls @ 0.04.
Buy to Open VXX Mar 19 2021 31.0 Calls / Sold to Open VXX Mar 05 2021 17.5 Calls @ 0.04.
Buy to Open VXX Mar 19 2021 32.0 Calls / Sold to Open VXX Mar 05 2021 18.0 Calls @ 0.03.
Buy to Open VXX Mar 19 2021 33.0 Calls / Sold to Open VXX Mar 05 2021 18.0 Calls @ 0.03.
Buy to Open VXX Mar 19 2021 34.0 Calls / Sold to Open VXX Mar 05 2021 18.0 Calls @ 0.03.
Short DTE = 2
Long DTE = 16
VXX at 15.30. Double top on the 1 minute chart today at about 15.57
I’ve got VXX 15.50 and 15.0 short puts for Friday I’d love to be out of so I’m encouraging it to go up
TQQQ
Sold 1 TQQQ Mar 19 2021 63.0 Put @ 1.06.
Sold 1 TQQQ Mar 19 2021 62.0 Put @ 1.07.
VXX
New VXX Diagonal Spread
Bought to open VXX Apr 16 2021 41.0 Calls / Sold to Open VXX Mar 12 2021 19.0 Calls @ 0.02 Credit.
Pushing my long hedge position for future writes out to April.
VXX Calls
Using this morning’s pop in volatility to venture into next week’s calls
Sold VXX 03/12/2021 19.0 Calls @ 0.38 & 0.43
Sold VXX 03/12/2021 20.0 Calls @ 0.34 & 0.38
Sold VXX 03/12/2021 21.0 Calls @ 0.30 & 0.34
I’ve turned some more short put spreads into Iron Condors.
VXX is at 15.30
TLRY
A couple of adjustments to my TLRY position.
Rolled down my TLRY Mar 05 2021 34.0 Put to a TLRY Mar 12 2021 33.0 Put at $0.35 Credit
Added a couple of Bear Call spreads to convert some put spreads to Iron Condors
Bought 1 TLRY Apr 16 2021 70.0 Call / Sold 1 TLRY Mar 05 2021 28.0 Call @ 0.16 Credit
Bought 1 TLRY Apr 01 2021 60.0 Call / Sold 1 TLRY Mar 05 2021 28.0 Call @ 0.22 Credit
SPY Call
Sold 1 SPY MAR 03 2021 $393.0 Diagonal Call @ 1.15.
The strike is at near term resistance in SPY
UVXY Contango Special
Bought to open UVXY Apr 16 2021 5.00 Puts / Sold to Open UVXY Mar 05 2021 8.00 Puts at $0.10 Credit.
UVXY is 8.65 and I have excess long puts from earlier spreads.
Short DTE = 4
Long DTE = 46
SPY
Sold to open 1 SPY MAR 01 2021 $389 Diagonal Call @ 1.06 after an 8 point bump in SPY in just 2 hours.
Turns my short put spread into an Iron Condor Spread
VIX
30.82 high today before pulling back and closing down on the day.
Pretty nice double top and not quite as high as yesterday’s 31.16 peak
TLRY
Rolled down my last short put for this week.
Bought to close 1 TLRY Feb 26 2021 26 Put / Sold to Open 1 TLRY Mar 05 2021 25 Put @ 0.40 Credit
TLRY Win-Win
Closed out another diagonal spread I put on with profits on both sides
Bought to close TLRY 02/26/2021 26.0 Short Calls @ 0.01 – Sold @ 0.90 (avg price) on 02/23
Sold to close TLRY 04/16/2021 70.0 Long Calls @ 0.93 – Bought @ 0.61 (avg price) on 2/23
SPY Put Rolldown
Bought to close 1 SPY Feb 26 2021 377.0 Put at $0.01. Sold @ 1.51 on 02/23.
Sold to Open 1 Contract SPY Mar 05 2021 370.0 Put @ 1.43.
#DoubleDip Sale on my long March 150 Put and 7 points lower
AMC Win-Win
Closed out the diagonal spread I put on yesterday with profits on both sides
Bought to close AMC 02/26/2021 8.0 Short Calls @ 0.13 – Sold @ 0.79
Sold to close AMC 03/26/2021 12.0 Long Calls @ 0.91 – Bought @ 0.77
SPY Rollup
After several rolls laterally I’m finally able to roll this one up.
Bought to close 1 SPY Feb 26 2021 377.0 Call / Sold to Open 1 SPY Mar 03 2021 380.0 Call @ 0.38 Credit
SLB Call roll
Bought to close SLB Feb 26 2021 27.5 Calls / Sold to Open SLB Mar 05 2021 28.5 Calls @ 0.12 Credit plus another point higher for next week.
I’m expecting my SLB 28.50 and 29.50 short calls for today to expire.
VXX Call Rolls
Even though today’s VXX calls would have expired I couldn’t pass up the great premiums for next week while waiting for this weeks calls to roll off.
Bought to close VXX 02/26/2021 20.0 Calls @ 0.09. Sold these @ 0.23 earlier this week.
Bought to close VXX 02/26/2021 21.0 Calls @ 0.06. Sold these @ 0.19 earlier this week.
Bought to close VXX 02/26/2021 22.0 Calls @ 0.04. Sold these @ 0.15 earlier this week.
Replaced all the above with options 2 points higher in strike. (Hopefully that is enough)
Sold VXX 03/05/2021 22.0 Calls @ 0.61
Sold VXX 03/05/2021 23.0 Calls @ 0.58
Sold VXX 03/05/2021 24.0 Calls @ 0.56.
VXX peaked at 17.29
VXX Puts closed
Bought to close VXX Feb 26 2021 15 Puts Limit at $0.01. Sold these on a rolldown last Friday at 0.50
TLRY
Rolled all but 1 of my TLRY short puts to next week.
Also put on some bear call spreads to lessen the pain a bit.
Sold 02/26 26.0 Calls @ 27.0 Calls while buying April 70 calls to hedge.
Either my remaining put will expire or the calls will and I’ll roll what I need to tomorrow afternoon.
VIX closed above 29
Up 33 % and Hit 31.16
AMC
Sold AMC Feb 26 2021 6.5 Puts @ 0.10 & AMC Feb 26 2021 6.0 Puts @ 0.05 against some left over Jun 2.0 long puts I already own.
Also Sold Feb 26 2021 8.0 Calls while buying AMC March 26 12.0 Calls @ 0.02 Credit.
So I have 6.0/8.0 and 6.5/8.0 short strangles expiring tomorrow.. Waiting to see what kind of opening we get Friday.
