Bought to open VXX Mar 26 2021 32.0 Calls / Sold to Open VXX Mar 05 2021 20.5 Calls @ 0.07 Credit.
VXX is at 16.65.
I’ve already rolled most of my short puts to next week (way to early) but I’m liking my chances that my short VXX 02/26/2021 15.0 Puts will expire. That didn’t look likely this morning.
Despite the 30% move in the VIX today I am still expecting all my short VXX Calls for this week to expire tomorrow or be covered at a penny.
So I’m tiptoeing into next week’s expiration.
Bought to open VXX Mar 26 2021 32.0 Calls / Sold to Open VXX Mar 05 2021 19.0 Calls @ 0.04 Credit.
Once I start covering this week’s calls to free up some buying power, I’ll be selling more for next week.
VXX at 16 right now
Bought to close UVXY Feb 26 2021 9.0 Puts at $0.51. Sold these @ 0.63 last Friday.
Sold to Open UVXY Mar 05 2021 8.5 Puts @ 0.56 to replace them.
Bought to open SPY Mar 24 2021 350 Put / Sold to Open SPY Mar 05 2021 377 Put @ 0.07 Credit.
I’ve been rolling a SPY 377 short call forward every few days for a while, so this is an offset to that.
Gives me an Iron Condor at that strike price.
Hit 200 dollars after hours
Up 46 points
Here we go again 🙂
From Barrons:
The key inflection point in the GameStop saga last month — when brokers suddenly limited trading in the stock — could have been avoided if the systems designed to settle trades moved faster , according to Robinhood’s Vlad Tenev . Now, the CEO of the online broker may get his wish, at least partially.
The Depository Trust & Clearing Corporation (DTCC) announced on Wednesday that it expects to be able to shorten the time between when a trade takes place and when it is finalized — known as settlement — to one day from two. The DTCC is the most powerful clearinghouse in the market, and serves as a hub where buyers and sellers go to finalize and record their trades.
Robinhood, which relies on a subsidiary of the DTCC called the National Securities Clearing Corporation (NSCC) to clear its trades, stopped all buying in shares of GameStop (ticker: GME), AMC Entertainment (AMC) and other stocks on January 28 . Other brokers also placed limits on some transactions. Shares of the impacted companies mostly fell that day and some did not regain their prior highs afterwards. Investors blamed the brokers — and Robinhood in particular — for the shift.
Robinhood said that it was forced to take drastic action because of demands from the NSCC for more capital. Brokers need to deposit capital with their clearinghouses in case there’s some problem during the trade-settlement process. During the GameStop frenzy, those deposit requirements rose because of the large amounts of shares being traded and leverage being used. Robinhood deposited $124 million on January 25 , but the NSCC asked for $3 billion on Jan. 28 , Tenev said in testimony for a congressional hearing last week. The deposit requirement eventually fell to $1.4 billion that day, Tenev said, but Robinhood’s operations were impacted for days, with limits placed on buying and options.
At the hearing, Tenev said that he thinks the best way to solve this issue is to reduce the time to settlement to zero. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” he said. The DTCC said it cannot comment on the Robinhood episode.
However, the DTCC has been working for years on shortening the time from trade to settlement — and in 2017 reduced that time span to two days from three. DTCC executives now say they can get to T+1, or finalizing a trade one day after it takes place, within two years — which could allow the DTCC to reduce margin requirements on brokers and other market participants.
The delay between when a person hits “Buy” on an investing app and the trade being fully recorded has less to do with technology and more to do with industry practice and risk management. The DTCC says it has the technology to move to one-day or possibly even same-day settlement right now, but that it will depend heavily on the various parties that use its system to sign on.
The delay between trades and settlement also serves a purpose, and reducing that time could impact other processes. For instance, investment firms that trade one stock multiple times during a day tend to net those trades at the end of the day. That way, they don’t have to go through the same process for each trade. Making sure all of those trades are settled and financed in real time, or in a very short period, would likely be impossible given current market dynamics.
The DTCC has been experimenting with blockchain technology to clear and settle trades. Some of today’s processes could theoretically be automated under that system, which would store trading data in encrypted files and allow market players to hook into the database. But blockchain tech isn’t fast enough to keep up with the current volume of trading. The DTCC is working on a prototype of a system, dubbed Project Ion, that could one day put clearing and settlement on a blockchain.
For now, the DTCC expects to be able to move forward with its current technology. One client is already weighing in.
“T+1 is a welcome stepping stone to real-time settlement,” Tenev said in reaction to the DTCC announcement. “We look forward to working with lawmakers, regulators and the industry to make this a reality.”
05:53 AM EST, 02/24/2021 (MT Newswires) — Straddle prices for stocks expected to report quarterly results this week
Airbnb (ABNB) February weekly 187.50 straddle priced for a move of 12% into the expected release of quarterly results after the bell on Feb. 25.
AMC Entertainment (AMC) February weekly 7.5 straddle priced for a move of 22% into the expected release of quarterly results on Feb. 25.
Best Buy (BBY) February weekly 115 straddle priced for a move of 6% into the expected release of quarterly results before the bell on Feb. 25.
Some of the best credit investors we know always look at stock dividend yields vs. the company´s ten year corporate bonds. Interesting data here. These are the top 30 S&P 500 dividend yielders, but we also show their cost of debt. Many of the top dividend payers in the S&P are paying out much more than their cost of debt (average bond yield) and many of them have strong balance sheets as well. The top 3 highest spreads of dividend yield cost of debt are 1. Altria 2. Exxon Mobil and 3. AT&T. This speaks to how cheap true value names are.
Since I have been rolling a SPY short 377 Call forward for a few weeks I decided to take a chance on a 377 Put as a partial offset
Bought to Open 1 SPY Mar 15 2021 350 Put / Sold to Open 1 SPY Feb 26 2021 377 Put @ 0.06 Credit.
The short side is gone by Friday.
The long side is disaster protection and allows for a roll or rewrite of a new short.
Sold VXX 02/26/2021 18.00 Diagonal Calls @ 0.33 & 0.34
Sold VXX 02/26/2021 18.50 Diagonal Calls @ 0.29 & 0.30
Sold VXX 02/26/2021 19.00 Diagonal Calls @ 0.22, 0.26 & 0.29
Sold VXX 02/26/2021 19.50 Diagonal Calls @ 0.26
VXX opened at 15.82 and got up to 16.60.
Balances out my put exposure some more and uses up most of my leftover long March long calls.
#DoubleDip
Rolled today’s 385 Call to Wednesday’s 386 Call @ 0.06 Credit
Rolled today’s 386 Call to Wednesday’s 387 Call @ 0.42 Credit
Rolled today’s 387 Call to Wednesday’s 389 Call @ 0.12 Credit (now OTM for the moment)
Tanking – down 50
https://www.zerohedge.com/markets/tesla-unexpectedly-halts-sales-standard-range-model-y-without-explanation
Sold VXX 02/26/2021 18.00 Diagonal Calls @ 0.30
Sold VXX 02/26/2021 18.50 Diagonal Calls @ 0.26.
VXX opened at 15.60.
Balances out my put exposure a bit
Last trade today
Bought to close SLB Feb 19 2021 26 Calls / Sold to Open SLB Feb 26 2021 27.5 Calls @ 0.02 Credit
I was hoping the 26 calls would just expire …. but oh well …
Sold them @ 0.89 last week.
Bought to close 1 TLRY 02/19/2021 28.0 Put @ 0.01. Sold last week on a rolldown at 2.55
Didn’t want to chance the 29 puts expiring (it looks like they will) but with the open around 27.50 this morning I rolled those down to TLRY Feb 19 2021 26.0 Puts at a small credit.
Bought to close SPY Feb 19 2021 386 Call / Sold to Open SPY Feb 24 2021 387 Call @ 0.28 Credit plus the extra point on the strike price.
Rolled VXX 02/19/2021 16.50 Puts to VXX 02/26/2021 16.00 Puts @ 0.03 Credit
Rolled VXX 02/19/2021 16.0 Puts to VXX 02/26/2021 15.50 Puts @ 0.07 Credit
Rolled VXX 02/19/2021 15.50 Puts to VXX 02/26/2021 15.00 Puts @ 0.11 Credit
Rolled UVXY 02/19/2021 9.50 Puts to UVXY 02/26/2021 9.00 Puts @ 0.02 Credit.
The extra 0.50 lower on all the strike prices is more significant than the the cash inflow for 5 more trading days
But the cash is also nice.
The TLRY 02/19/2021 31.0 Puts I rolled down to from TLRY 02/12/2021 37.0 Puts last Friday had to be rolled again.
Rolled to TLRY 02/26/2021 29.0 Puts @ 0.14 Credit
Furious Aussies React To “Zero Warning” Facebook Ban On News Content
What Facebook has blocked in Australia so far:
FB has said “government pages should not be impacted” and will be re-instated. Some of the other non-news orgs hit:
Whatever you think about FB, this is likely to escalate
Reaching out to next week’s calls
Sold VXX 02/26/2021 23.0 Diagonal Calls @ 0.22
One last write against Feb long calls left over from other spreads.
Sold 02/19/2021 20.50 Calls @ 0.12
Sold 02/19/2021 20.00 Calls @ 0.15
Sold 02/19/2021 19.50 Calls @ 0.18
Sold 02/19/2021 19.00 Calls @ 0.21
VXX is under 16
Sold SPY Feb 19 2021 395 Calls / Bought SPY Mar 05 2021 403 Calls @ 0.19 Credit
Bought to close MRO 02/12/2021 8.50 Covered Calls / Sold 02/19/2021 9.00 Covered Calls @ 0.02 Credit.
I’ll let the stock go next Friday if it is above 9.0
Rolled VXX 02/12/2021 17.00 Puts to 02/19/2021 16.50 Puts for 0.02 Credit
Rolled VXX 02/12/2021 16.50 Puts to 02/19/2021 16.00 Puts for 0.10 Credit
Rolled VXX 02/12/2021 16.00 Puts to 02/19/2021 15.50 Puts for 0.12 Credit
Rolled UVXY 02/12/2021 10.00 Puts to 02/19/2021 9.50 Puts for 0.06 Credit.
The extra 0.50 lower on all the strike prices is more significant than the the cash inflow for 4 more trading days
But the cash is also nice.
Bought to close TLRY Feb 12 2021 37.0 Puts / Sold to Open TLRY Feb 19 2021 31.0 Puts @ 0.05 Credit.
Pushed the short strike down 6 points with the stock at 34.30
Bought to close VXX 02/12/2021 18.50 Diagonal Calls @ 0.01. Sold these at 0.16, 0.18 & 0.30
Bought to close VXX 02/12/2021 19.00 Diagonal Calls @ 0.01
Bought to close VXX 02/12/2021 19.50 Diagonal Calls @ 0.01
Since my puts are already rolled out I’m starting new call positions to pair up with them.
Bought to open VXX Mar 19 2021 50.0 Calls/ Sold to Open VXX Feb 19 2021 20.0 Calls at $0.15 Credit.
Once my buy orders for this week’s calls start filling at a penny, I’ll sell more for next week.
Rolled VXX 02/12/2021 22.00 Puts to 02/19/2021 22.00 Puts for 0.20 Credit
Rolled VXX 02/12/2021 21.00 Puts to 02/19/2021 21.00 Puts for 0.25 Credit
Rolled VXX 02/12/2021 19.50 Puts to 02/19/2021 19.50 Puts for 0.30 Credit
Rolled VXX 02/12/2021 19.00 Puts to 02/19/2021 19.00 Puts for 0.35 Credit.
Not enough strength in VXX to roll any of them down this week, but not a bad cash flow for only 5 more trading days (Presidents Day holiday next Monday)
I’m expecting to cover all this week’s paired up short calls by early tomorrow.
Sold to open TLRY 02/12/2021 80/100 Bear Call spreads @ 0.53 Credit.
TLRY at 43 and gave up all the 20 points it gained yesterday.
These pair off with the Put spreads I did yesterday giving me a short Iron Condor spread
Bought to close GME 02/12/2021 19.00 Puts @ 0.01. Sold these on 02/04 at 0.40 & 0.46
Bought to close GME 02/12/2021 20.00 Puts @ 0.01. Sold these on 02/04 at 0.52,0.54 & 0.83
Bought to open TLRY Mar 19 2021 14 Put / Sold to Open 1 TLRY Feb 12 2021 38 Put @ 0.05 Credit
Bought to open TLRY Mar 19 2021 13 Put / Sold to Open 1 TLRY Feb 12 2021 37 Put @ 0.10 Credit
TLRY up 20 @ 62
Just playing around a little with a new name
Will need strikes higher than 100 on the call side before I play those
Bought to close 02/12/2021 16.0 Diagonal Puts @ 0.01. They won’t trade any lower.
Sold these on 02/04 @ 0.46 & 0.47
Bought to close 1 SPY Feb 10 2021 385 Call / Sold to Open 1 SPY Feb 12 2021 386 Call @ 0.02 Credit but pushed the short up a point for only 2 more days to expiration.
Used the temporary spike in VXX to 17 to sell some diagonal calls against Feb and March long positions still in the account from old spreads.
#DoubleDip
Sold VXX 02/12/2021 20.0 Calls @ 0.14
Sold VXX 02/12/2021 19.50 Calls @ 0.14
Sold VXX 02/12/2021 19.0 Calls @ 0.18 & 0.23
Sold VXX 02/12/2021 18.50 Calls @ 0.18 & 0.30
Sold VXX 02/12/2021 18.00 Calls @ 0.25, 0.30 & 0.35
Bought to open VXX Jun 18 2021 9 Puts / Sold to Open VXX Feb 12 2021 16.0 Puts @ 0.03 Credit.
Short DTE = 3
Long DTE = 129
#VXXContango
Week ending 02/05:
Ethereum $ETH: +30%
Bitcoin $BTC: +14%
S&P 500 $SPY: +5%
Macerich $MAC: -17%
Tootsie Roll $TR: -21%
Bed Bath $BBBY: -25%
Nat. Beverage $FIZZ: -28%
Vol Index $VIX: -37%
New Concept $GBR: -39%
Express $EXPR: -48%
AMC $AMC: -48%
Koss $KOSS: -69%
GameStop $GME: -80%
$VIX futures contango settled at 10.58%
Headwind for $VXX and $UVXY
== Expired ==
GME 02/05/2021 520/530 Bear Call Spread
SLB 02/05/2021 25.50 Diagonal Calls
VXX 02/05/2021 20.0 Diagonal Calls
VXX 02/05/2021 21.0 Diagonal Calls
VXX 02/05/2021 22.0 Diagonal Call
VXX 02/05/2021 24.0 Diagonal Calls
VXX 02/05/2021 25.0 Diagonal Calls
VXX 02/05/2021 26 Diagonal Calls
WFC 02/05/2021 33.0 Diagonal Calls
GME 02/05/2021 8.0 Short Puts
GME 02/05/2021 9.0 Short Puts
GME 02/05/2021 10.0 Short Puts
GME 02/05/2021 11.0 Short Puts
GME 02/05/2021 40.0 Diagonal Put
SLB 02/05/2021 25.0 Short Puts
== Assignments ==
GME 02/05/2021 40.0 Covered Call (put the trade on this week for $38 debit)
SLB 02/05/2021 20.50 Covered Calls (dumping long stock purchased several years ago at much higher prices. Redeploying the resulting cash)
Somebody made a buck or two getting out
Ticker Top Insider Trading Date Transaction Value($)
OTLK Sukhtian Ghiath M. Feb 02 Buy 8,360,000
BDGE BASSWOOD CAPITAL MAN Feb 02 Buy 6,915,225
MSM JACOBSON MITCHELL Jan 29 Buy 5,290,780
AMC Silver Lake Group, L Jan 27 Sale 534,752,119
DCT Disco (Guernsey) Hol Feb 02 Sale 273,264,840
Bought to close 02/05/2021 17.50 Diagonal Puts / Sold VXX 02/12/2021 17.0 Puts @ 0.01 Credit
Bought to close 02/05/2021 17.0 Diagonal Puts / Sold VXX 02/12/2021 16.50 Puts @ 0.06 Credit
Bought to close 02/05/2021 18.50 Diagonal Calls @ 0.01. Sold on a rollup last Friday @ 2.42
Letting all the other VXX short calls expire
Bought to close GME FEB 05 2021 $23 PUTS @ 0.01. They won’t trade any lower.
Sold these yesterday for 0.18 and 0.21
Sold to close SPY 02/05/2021 385.0 Calls @ 3.25 on the open. Bought these @ 2.67
These were excess longs from earlier bear call spreads where the short expired.
Then I rolled one of the shorts expiring today.
Bought to close Buy to Close 1 SPY Feb 05 2021 382.0 Call / Sold to Open 1 SPY Feb 16 2021 385.0 Call @ 0.03 Credit but bumped the strike up 3 points.
Sold To Open GME FEB 05 2021 $40 PUT @ 1.77 while buying the GME MAR 19 2021 $10 PUT @ 0.50 to lower the margin requirements a bit.
The short expires today
Bought to close GME FEB 05 2021 $15 PUTS @ 0.01. They won’t trade any lower.
Sold these for of 0.40 on 01/29
Bought to close AMC FEB 05 2021 $5 PUTS @ 0.01. They won’t trade any lower.
Sold these for an average of 0.36
That leaves me with long March and June strike 2 puts that are fully paid for as “lottery tickets”
Dumped a couple more extra long Puts at a gain after the short puts sold against them expired last Friday.
Sold to close GME FEB 12 2021 $17 PUTS @ 0.80. Originally bought them @ 0.75.
#WinWin on the original spread.
GME at 56.50
Done with GME trades for today
New diagonal
Bought to open GME Mar 26 2021 10.0 Put/ Sold to Open GME Feb 12 2021 20.0 Put at $0.15 Credit.
Fido calculates the Breakeven price is GME @ 17.17 (at the expiration date of the short I’m assuming)
GME Currently at 59.
For Thursday
GameStop (GME) – 121.07% Short Interest
AMC Entertainment (AMC) – 78.97%
Virgin Galactic Holdings (SPCE) – 71.95%
FuboTV (FUBO) – 71.91%
Bed Bath & Beyond (BBBY) – 65.48%
Ligand Pharmaceuticals (LGND) – 64.88%
National Beverage Corporation (FIZZ) – 62.62%
SunPower Corporation (SPWR) – 57.49%
Tanger Factory Outlet Centers (SKT) – 52.41%
GSX Techedu (GSX) – 50.32%
Tootsie Roll Industries (TR) – 45.91%
Gogo Inc (GOGO) – 43.95%
Accelerate Diagnostics (AXDX) – 43.08%
Beyond Meat (BYND) – 42.89%
Ontrak (OTRK) – 42.56%
Clovis Oncology (CLVS) – 42.13%
Rocket Companies (RKT) – 40.72%
Seritage Growth Properties (SRG) – 38.69%
iRobot Corporation (IRBT) – 38.45%
Bought to open GME Mar 19 2021 6.0 Puts / Sold to Open GME Feb 12 2021 18.0 Puts at $0.22 Credit
I’ve got a whole bunch of naked and hedged short puts expiring tomorrow plus I’m already long more puts than I am short.
SPY Feb 03 2021 383 Short Diagonal Call
Bought to close Buy to Close GME Feb 05 2021 12 Puts at $0.01 taking out of the rest of this position.
Sold these on 01/29 @ 0.38
I pulled my orders to close 8, 9, 10 & 11 short puts as they look to expire Friday. Still short some 15 puts that I’m trying to close.
Bought to close VXX Feb 05 2021 22.0 Puts / Sold to Open VXX Feb 12 2021 22.0 Puts @ 0.20 Credit.
Just bringing in #CASH and buying more time before they get farther in the money.
Along with this trade I cancelled the orders I had in to cover short VXX calls at 22,23,25,& 26 for this week. I’ll just let them expire.
Bought to close SPY Feb 03 2021 376.0 Call / Sold to Open SPY Feb 08 2021 377 Call @ 0.06 Credit but bumped the short strike up a point..
SPY = 382.85
Still have a short 383 call for today that I am letting run to the close to see if it expires
Bought to close GME 02/05/2021 12.0 Puts @ 0.01. It won’t trade any lower.
Sold this lot on 01/27 at 0.30
Bought to open VXX Jan 21 2022 5.0 Puts / Sold to Open VXX Feb 05 2021 17.0 Puts @ 0.03 Credit
#VXXContango special
VXX 17.79
Short DTE = 2
Long DTE = 352
2nd time for this strategy in an IRA account with 100% cash.
Bought 100 GME @ 103.71
Sold 1 GME Feb 05 2021 40.0 Covered Calls @ 65.71.
Net Debit is $38.00
Looking for this to be assigned Friday to get the $200 profit
new #VXXContango special
Bought to open VXX Jan 21 2022 6.0 Puts / Sold to Open VXX Feb 05 2021 17.5 Puts @ 0.06 Credit
VXX = 18.30
Short DTE = 3
Long DTE = 353
from Zerohedge
GME Surges 85% ‘Off The Lows’ After Robinhood Lifts Trading Restrictions
“…in all my 6 days of trading, I have never seen anything like this…”
.. as attention now seems to be shifting to biotechs where names like VXRT, DVAX and BCRX sharply higher today.
Bought to open 1 SPY Feb 26 2021 393.0 Call / Sold to Open 1 SPY Feb 05 2021 383.0 Call @ 0.04 Credit.
A 2 day move from 370 to 382 may be a bit overdone.
Just trying to pick up a long with a bit longer life than the calls I already own so I can write against it a few more times.
Bought to open AMC Mar 19 2021 2.0 Puts / Sold to Open AMC Feb 05 2021 5.0 Puts @ 0.22 Credit
Bought to open AMC Jun 18 2021 2.0 Puts / Sold to Open AMC Feb 05 2021 5.0 Puts @ 0.07 Credit
I may have been a bit early but I can roll the shorts if I have to.
GME –
How the GME Options frenzy could price itself out of existance
Reddit-fueled stocks ‘now have options that are very expensive, perhaps prohibitively so’: BTIG’s Emanuel
There’s an old saying among commodity traders that the cure for high prices is high prices. The same likely will prove true for options on GameStop Corp. and other highflying targets that have become popular on Reddit message boards, argued one veteran options analyst.
The idea is just Econ 101: as prices for wheat or oil or gold rise too high, users naturally use less of the product. As demand is rationed, prices eventually decline (the same idea works in reverse, with low prices seen as the cure for, you guessed it, low prices).
And so it might go after last week’s frenzied buying of call options, which give the holder the right but not the obligation to buy the underlying security at a set price by a certain time, on GameStop (GME) and shares of other heavily shorted companies, said Julian Emanuel , chief equity and derivatives strategist at BTIG, in a Sunday note.
The heavy call buying was part of an effort by an army of individual investors organized via Reddit’s WallStreetBets forum to run up the prices of the heavily shorted companies, forcing short sellers to buy back their shares and accelerating the rally. The call buying generated a feedback loop of its own as market makers, who had sold the call options, bought the underlying stocks to hedge, or neutralize, their market exposure.
More details:How an options-trading frenzy is lifting stocks and stirring fears of a market bubble (https:// www.marketwatch.com/story/a-surge-in-options-trading-is-pushing-around-the-stock-market-and-bringing-back-memories-of- the-dot-com-bubble-11611618636)
The strategy, as anyone paying the slightest attention last week to markets or the news knows, seems to have worked quite nicely. GameStop shares soared 400% last week to end Friday at $325 after touching a high above $500 on Thursday. GameStop ended 2020 near $18 a share.
Given those gyrations, implied volatility — one measure of an option’s cost — at an off-the-charts 1,000% proved cheap for options that expired last week, Emanuel said, noting in the chart below the surge in 3-day realized volatility.
But it’s likely to be a different story going forward, he said, arguing that options “have likely become too expensive to remain a source fueling further upside in a number of the meteoric gainers.”
To illustrate, he noted that an at-the-money call option (one with a strike price equal to the stock price) on GameStop expiring on Feb. 19 cost around half of GameStop’s actual share price, or 580% volatility. By comparison, at- the-money call on the S&P 500 , also expiring on Feb. 19 , cost 2.5% of the index’s actual price, or 26.5% volatility, he said.
Since both options were at-the-money, they had no “intrinsic value,” a measure of the option’s profitability based on the strike price relative to the share price. Instead, the premiums consisted entirely of “time value,” based on the underlying asset’s expected volatility and the time until the option expires.
The bottom line, Emanuel said, is that options on GameStop and much of GameStop’s cohort of social-media-fueled speculative stocks “now have options that are very expensive, perhaps prohibitively so.”
Bought to close 1 SPY Feb 01 2021 381.0 Call at $0.01. It won’t trade any lower.
Sold this one on 01/27 @ 3.30.
Replaced it with 1 SPY Feb 05 2021 382.0 Call at $1.27.
New #VXXContango Special
Bought to open VXX Sep 17 2021 5.0 Puts / Sold to Open VXX Feb 05 2021 17.0 Puts @ 0.04 Credit
Short DTE = 4
Long DTE = 228
KOLD Down 20% today
BOIL Up 20%
for those watching these things
https://www.zerohedge.com/markets/gamestop-distortion-sparks-massive-collapse-retail-etf-assets
Bought to open GME Feb 26 2021 5.0 Puts / Sold GME Feb 05 2021 15.0 Puts @ 0.05 Credit.
Stock at 315
Just hoping to pick up a long put with a longer expiration date for free.
GME eventually implodes once the #wallstreetbets crowd sees something else shiny
Bought VXX Jan 29 2021 18.5 Calls / Sold to Open VXX Feb 05 2021 20.0 Calls @ 0.05 Credit – short 1.50 higher
Bought VXX Jan 29 2021 19.0 Calls / Sold to Open VXX Feb 05 2021 21.0 Calls @ 0.09 Credit – short 2.00 higher
Bought VXX Jan 29 2021 19.5 Calls / Sold to Open VXX Feb 05 2021 23.0 Calls @ 0.28 Credit – short 3.50 higher
Bought VXX Jan 29 2021 20.0 Calls / Sold to Open VXX Feb 05 2021 25.0 Calls @ 0.53 Credit – short 5.00 higher
Bought VXX Jan 29 2021 20.5 Calls / Sold to Open VXX Feb 05 2021 26.0 Calls @ 0.45 Credit – short 5.50 higher.
Done with VXX for this week.
Damn – glad to be out of this
Bought to Close 1 GME Jan 29 2021 310 Call / Sold to Close GME Jan 29 2021 320 Call @ 1.00 Net Debit.
Since I put the spread on at a 2.00 point Credit, I’m thrilled with the $100 gain.
Very lucky this week 🙂 🙂 . Made $$ on all three of my GME Bear Call spreads.
Bought to close GME 01/29/2021 31.0 Puts @ 0.01.
Sold these at 0.40 as part of a diagonal spread.
Why hasn’t the GME board authorized the issuance of a massive number of new shares to pay down all of it’s debt and put billions in the bank like Tesla has done multiple times?
below 800 for the first time since 01/07.
The shorts are winning on this one
Bought to close GME 02/05/2021 7.0 Puts @ 0.01. They won’t trade any lower.
Sold yesterday @ 0.25
I may try to resell.
FWIW
The XRT 95 call expiring today is 0.70 bid / 1.00 ask with the stock at 88.40.
Options Bistro 