Sold 1 LABU May 07 2021 67.0 Diagonal Put @ $1.60.
#OnlySpreads
Author Archives: Option Iceman
VXX Option Ladder
Sold these covered calls:
VXX May 21 2021 46.0 Call at $1.76 & $2.06
VXX May 28 2021 46.0 Call at $2.29
VXX Jun 04 2021 46.0 Call at $2.74
VXX Jun 11 2021 46.0 Call at $3.40
Replaces the old pre-split calls that expired Friday
VXX
#VXXContango trade – a really long one
Bought to Open 1 VXX Jan 20 2023 5.0 Put at $0.15.
627 DTE (Days to Expiration)
Bought to Open 2 VXX Jun 16 2023 5.0 Puts at $0.27.
774 DTE (Days to Expiration)
VXX at 38.70.
These are “after the split” strikes
TLRY
Sold TLRY May 07 2021 16.5 Diagonal Puts at $0.29.
This creates a 16.50/25.0 short strangle for this week.
Total Premium $0.42 each strangle
SLB
Sold SLB 05/07/2021 29.50 Covered Calls @ $0.13.
Sold SLB 05/21/2021 30.0 Diagonal Calls @ $0.32
OptionsExpiration
LABU 04/30/2021 87.5 Diagonal Call
LABU 04/30/2021 85.0 Diagonal Call
TLRY 04/30/2021 19.0 Diagonal Calls
TQQQ 04/30/2021 115.0 Diagonal Call
VXX 04/30/2021 10.5 Covered Calls
VXX 04/30/2021 11.0 Covered Calls
VXX 04/30/2021 11.5 Covered Calls
VXX 04/30/2021 12.0 Covered Calls
VXX 04/30/2021 13.5 Covered Calls
VXX 04/30/2021 14.5 Covered Calls
WFC 04/30/2021 46.0 Diagonal Calls
Everything else rolled out
WFC Calls
Taking another shot at this one to get some calls to expire
Sold WFC Apr 30 2021 46.0 Calls at $0.34.
I have long calls out in June as a disaster hedge.
SLB Calls
Sold SLB May 21 2021 29.5 Calls at $0.47. Sold these against long stock plus long June Calls
VXX
Finally new 100 share weeklys available
Sold 1 VXX May 07 2021 41.0 Covered Call at $1.10
Sold 1 VXX May 14 2021 46.0 Covered Call at $1.10
Sold 1 VXX May 28 2021 50.0 Covered Call at $1.70 (highest available strike).
Plus a kicker VXX Diagonal Bear Call spreads:
Bought to Open 1 VXX Jun 18 2021 64.0 Call / Sold to Open 1 VXX May 21 2021 44 Call at $0.14 Credit.
Bought to Open 1 VXX Jun 18 2021 64.0 Call / Sold to Open 1 VXX May 21 2021 45 Call at $0.08 Credit.
TLRY Calls
Writing against some deep in the money short puts as if I already owned the stock:
Sold TLRY Apr 30 2021 19.5 Calls at $0.31
Sold TLRY May 14 2021 24.0 Calls at $0.41
LABU
Sold LABU Apr 30 2021 78.0 Put at $1.25.
Sold LABU Apr 30 2021 75.0 Put at $0.95.
This turns two short calls for this week into short strangles.
GME now debt free
Why didn’t they do this sooner?
April 26, 2021 11:19 PM ET (BZ Newswire) — News
GameStop Corporation (NYSE:GME) shares soared 22% higher in the regular and after-hours sessions combined on Monday.
What Happened: The video game retailer said Monday that it had completed its previously announced “at-the-market” equity offering in a statement.
GameStop completed the sale of 3.5 million shares of common stock and generated gross proceeds before commissions and expenses of nearly $551 million.
“Net proceeds will be used to continue accelerating GameStop’s transformation as well as for general corporate purposes and further strengthening the Company’s balance sheet,” as per the statement.
Also in April, GameStop issued an irrevocable notice of redemption to redeem $216.4 million in principal amount of its 10% Senior Notes due 2023 on April 30.
GameStop said the early redemption will cover the entire amount of its outstanding 10% Senior Notes, which makes up all its long-term debt.
VXX Adjustments
Adjusting positions for the split:
Bought to close VXX(adj) 04/30/2021 14.0 Calls @ 0.01. Sold at 0.19 & 0.20.
Bought to close VXX(adj) 04/30/2021 12.5 Calls @ 0.01. Sold at 0.14.
Sold 1 VXX 05/21/2021 45.0 Covered Call @ $2.06
LABU Call
Sold 1 LABU Apr 30 2021 87.5 Call at $1.83
TLRY
Sold TLRY Apr 30 2021 19.0 Diagonal Calls at $0.28, replacing calls that expired Friday
LABU
Sold to Open 1 LABU Apr 30 2021 85.0 Call at $1.50.
LABU = 80, up 5 already today
VXX
#Contango trade – a really long one
Bought to Open 4 Contracts 1 Jan 20 2023 2.0 Puts at $0.20.
Adjusted for Friday’s split this is like 1 Jan 2023 8.0 Put with the stock @ 39.65.
634 DTE (Days to Expiration)
OptionsExpiration
EXPIRED:
== Calls ==
LABU 04/23/2021 76.0/135.0 Bear Call Spread
LABU 04/23/2021 80.0 Diagonal Call
SLB 04/23/2021 29.50/40.0 Bear Call Spreads
TLRY 04/23/2021 20.0/42.0 Bear Call Spread
TLRY 04/23/2021 20.5/43.0 Bear Call Spread
TLRY 04/23/2021 20.5/44.0 Bear Call Spread
WFC 04/23/2021 44.0 Diagonal Calls
VXX 04/23/2021 10.5/26.0 Bear Call Spreads
VXX 04/23/2021 11.0 Covered Calls
VXX 04/23/2021 11.5 Covered Calls
VXX 04/23/2021 12.0 Covered Calls
VXX 04/23/2021 12.5 Covered Calls
VXX 04/23/2021 13.0 Covered Calls
VXX 04/23/2021 13.5 Covered Calls
== Puts ==
LABU 04/23/2021 65.0/45.0 Bull Put Spread
LABU 04/23/2021 60.0 Diagonal Puts
TLRY 04/23/2021 15.0/12.0 Bull Put Spreads
TNA 04/23/2021 80.0 Diagonal Put
TQQQ 04/23/2021 99.0 Diagonal Put
WFC 04/23/2021 41.0/30.0 Bull Put Spreads
ASSIGNMENTS: None
WFC Calls
Just like last week I thought after a weak open at 42.63 that these would expire.
Rolling up again.
Bought to close WFC Apr 23 2021 43.5 Calls / Sold to Open WFC Apr 30 2021 44.0 Calls @ 0.12 Credit.
TQQQ Call
Bought to close 1 TQQQ Apr 23 2021 109.0 Call at $0.97. Sold this last Friday on a rollup @ $4.42.
Replaced it with a short TQQQ Apr 30 2021 115.0 Call at $1.09.
At least the short TQQQ 99.0 Put will expire
LABU Call Rollup
The short puts worked well but I had to roll one of the calls,
Bought to close 1 LABU Apr 23 2021 74.0 Call / Sold to Open 1 LABU Apr 30 2021 80.0 Call Net Credit at $0.34 Credit.
Still holding out hope that my 76.0 and 80.0 calls expire shortly
UVXY Put Roll
Rolled UVXY Apr 23 2021 5.0 Puts to UVXY Apr 30 2021 5.0 Puts at $0.18 Credit.
Sold against long June 4.0 and 5.0 Puts already in the account.
VXX Put winner
Bought to close VXX 04/23/2021 9.50 Diagonal Puts @ 0.01.
They won’t trade any lower and I’m out before tomorrow’s reverse split in VXX.
Sold these last week on a rolldown @ 0.18 average price.
#VXXContango
VXX Put rolldown
A rare chance to roll down the strike.
Bought to close VXX Apr 23 2021 10.5 Puts / Sold to Open VXX Apr 30 2021 10.0 Puts at $0.02 Credit.
Sold the 10.50 puts last Friday on a roll @ 0.85. Covered today @ 0.32.
The new short strike has now reached the strike of my long June 10 Puts.
#VXXContango
VXX and UVXY Puts
2 Rolls today
Rolled UVXY 7.0 Puts to next week for a 0.07 Credit
Rolled VXX 11.0 Puts to next week for a 0.17 Credit
LABU Calls
As a partial offset to the short puts I sold earlier in the week,
Bought 1 LABU May 21 2021 100 Call / Sold to Open LABU Apr 23 2021 74.0 Call at $0.35 Credit
and
Sold 1 Sold to Open LABU Apr 23 2021 76.0 Call @ 0.65 against a long call already in the account.
That gives me 2 short straddles for this week:
Short 65.0/74.0 Straddle – total premium $3.30
Short 60.0/76.0 Straddle – total premium $2.30
Markets
TLRY
Sold TLRY Apr 23 2021 15.0 Puts at $0.37.
Pairs off with the TLRY 20.50 Calls I sold yesterday.
Total premium for the 15.0/20.50 Strangle is $0.88
IWM TNA
With the Russell2000 being hit so hard today, I’m looking for a way to play a bounceback.
Targeting TNA as that vehicle
#OnlySpreads
https://www.zerohedge.com/markets/small-caps-are-puking
WFC
Sold WFC Apr 23 2021 41.0 Puts at $0.15.
This pairs up with my short WFC 43.50 Calls for this week giving me a 41.0/43.50 short strangle.
Total Premium now $0.94
LABU
Sold 1 LABU Apr 23 2021 60.0 Put at $1.93.
This is my second one of these
TQQQ
Sold 1 TQQQ Apr 23 2021 99.0 Put at $0.58.
This pairs up with my short TQQQ 109.0 Call for this week giving me a 99.0/109.0 short strangle.
Total Premium now $5.00
LABU
Sold 1 LABU Apr 23 2021 60.0 Put at $1.65.
Continuing to replace LABU Puts that expired Friday.
VXX – More Calls
Sold VXX Apr 23 2021 11.5 Calls at $0.16
Sold VXX Apr 23 2021 11.0 Calls at $0.21
Sold VXX Apr 23 2021 10.5 Calls at $0.31
I’ve done all that I can to encourage the stock higher so that some short puts expire on Friday.
TLRY
Sold TLRY 04/23/2021 20.50 Calls @ 0.51.
Replaces strike 20 calls that expired Friday.
VXX Calls
On the first spike to 10.15 I sold:
VXX 04/30/2021 10.50 Calls @ 0.52
VXX 04/30/2021 11.00 Calls @ 0.42
VXX 04/30/2021 11.50 Calls @ 0.32
VXX 04/30/2021 12.00 Calls @ 0.26
VXX 04/30/2021 12.50 Calls @ 0.22
LABU
Sold 1 LABU Apr 23 2021 65 Put at $2.10.
This is a start to replace the short LABU 65 and 60 Puts that expired Friday.
VXX
Selling some long Puts to get ready for Friday’s split.
Sold to close VXX Jan 21 2022 5.0 Puts @ 0.46.
This was my first lot of these puts bought on 05/26/2020 at $0.29.
I’ve been writing against them for almost a year. I still have plenty left with an average cost of $0.16
#VXXContango
Earnings
OptionsExpiration
*Expired*
==Calls==
LABU 04/16/2021 77.0/135.0 Bear Call Spread
SLB 04/16/2021 28.0/37.5 Bear Call Spreads
TLRY 04/16/2021 20.0/60.0 Bear Call Spread
TLRY 04/16/2021 20.0/70.0 Bear Call Spreads
VXX 04/16/2021 10.5/41.0 Bear Call Spreads
VXX 04/16/2021 11.0/41.0 Bear Call Spreads
VXX 04/16/2021 11.5/42.0 Bear Call Spreads
VXX 04/16/2021 12.0/42.0 Bear Call Spreads
VXX 04/16/2021 12.0/43.0 Bear Call Spreads
VXX 04/16/2021 18.0/43.0 Bear Call Spreads
VXX 04/16/2021 18.5/43.0 Bear Call Spreads
==Puts==
LABU 04/16/2021 60.0/45.0 Bull Put Spread
LABU 04/16/2021 65.0 Diagonal Puts
REGN 04/16/2021 410.0 Short Put
TLRY 04/16/2021 16.0/14.0 Bull Put Spreads
TLRY 04/16/2021 15.0 Diagonal Puts
WFC 04/16/2021 38.5/30.0 Bull Put Spreads
*Assignments*
None
VXX Puts
Bought to close VXX 04/14/2021 10.0 Puts @ 0.16. Zero time value with the stock at 9.84.
Sold these on 04/08 @ $0.22 and $0.23.
Done for today
WFC Rollup
Rolled my WFC Apr 16 2021 43 Calls to WFC Apr 23 2021 43.5 Calls @ 0.03 Credit.
I really thought this one was going to expire.
TQQQ Rollup
Rolled 1 TQQQ Apr 16 2021 107 Call up to 1 TQQQ Apr 23 2021 109 Call @ 0.12 Credit.
This is my 2nd roll on this one
LABU
Bought to close 1 LABU 04/16/2021 75.0 Call @ 0.01. Sold this on Wednesday @ 0.75
VXX Long Puts – 10 bagger
I Bought 2 VXX 04/16/2021 11.0 Puts @ $0.09 on 02/03/2021.
I just sold them at the life of contract high(until today at least) @ $1.11
That’s a rare 1000% gain.
TSLA Diagonal Closed
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
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
