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
Author Archives: Option Iceman
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%)
VXX Put rolldown
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.
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
