Finally a rollup
Bought to Close SPY Oct 14 2020 340 Calls / Sold to Open SPY Oct 19 2020 341 Calls @ 0.09 Net Credit

Sold to Open VXX OCT 16 2020 24.0 Diagonal Calls @ 0.13.
Starting small but I have a bunch of short puts as a hedge

Bought to Close AAL Oct 16 2020 14.5 Calls at $0.01.
It won’t trade any lower

Rolled all today’s short diagonal calls to Wednesday or Friday expirations for small credits.
Too numerous to list.

This week …….

Bought to close KSS 10/09/2020 21.50 Covered Calls / Sold KSS 10/16/2020 23.00 Covered Calls @ 0.04 Credit plus a 1.50 higher strike.
KSS @ 21.75

Bought to close ADS Oct 09 2020 49 Diagonal Calls / Sold to open ADS Oct 16 2020 53 Diagonal Calls @ 0.05 Net Credit but bumped the strike price 4 points and brought in a little cash.

Edit:
Bought to close ADS Oct 09 2020 49 Covered Calls / Sold to open ADS Oct 16 2020 52.50 Covered Calls @ 0.22 Net Credit but bumped the strike price 3.50 points and brought in a little more cash.

Rolled all today’s short diagonal calls to Monday or Wednesday expirations for small credits.
Too numerous to list.

Why is this stock still up from March?

CCL Revenue nearly evaporates
Carnival Corp. said its revenue plunged to $31 million from $6.53 billion for the August quarter, a period that saw no sailings due to the Covid-19 pandemic and the removal of older ships as the company seeks to shrink its fleet.
The cruise operator on Thursday posted a third-quarter loss of $2.86 billion , or $3.69 a share, compared with a profit of $1.78 billion , or $2.58 a share, in the same period last year. The loss was in line with the company’s preliminary results last month. Analysts polled by FactSet were expecting a loss of $2.47 a share on revenue of $77.3 million .
Carnival also posted an adjusted loss of $2.19 a share, about in line with the $2.20 a share adjusted loss analysts polled by FactSet had expected. The company reported a profit of $1.78 billion in the third quarter last year. Carnival’s third-quarter loss was slimmer than the more than $4 billion loss it posted for the second quarter.
The cruise operator is moving to shed 18 less efficient ships, 10 of which have left the fleet, Carnival said. It said those 18 ships represent about 12% of its capacity before the pandemic and 3% of operating income in 2019.
The results came as the company’s Carnival Cruise Line has canceled most U.S. cruises through the end of the year, and its Seabourn luxury line this week canceled voyages on three ships as far forward as May 2021 . Cruise operators have lost billions of dollars this year as the pandemic forced them to halt sailings, leaving them dry in revenues. They haven’t sailed in the U.S. for more than half a year. Carnival said it expects a phased resumption of sailings.
In the U.S., the Centers for Disease Control and Prevention’s “no-sail” order was recently extended to Oct. 31 from Sept. 30 , though major cruise operators including Carnival had voluntarily agreed to cancel sailings through the end of October. The cruise industry last month proposed sailing protocols to the CDC, such as reducing virus transmission through air management.
Costa Cruises , the company’s Italian brand, started sailing again on Sept. 6 after a months-long hiatus brought on by ship outbreaks. Its German brand, AIDA Cruises , is resuming sailings in mid-October.
Carnival on average burned about $770 million a month during the third quarter, and it expects to burn about $350 million a month for the current quarter. Those cash-burn rates fall in line with the $650 million average monthly burn rate for the second half of the year the company previously expected.
Carnival said advanced bookings for the second half of 2021 available for sale as of Sept. 20 were at the higher end of the historical range.
Customer deposits as of Aug. 31 were $2.4 billion , most of which are future cruise credits the company had offered customers of canceled cruises in lieu of cash refunds, compared with $2.9 billion in May. Carnival said it can’t yet estimate how much of those deposits would be recognized in earnings compared to refunds or future cruise credits due to Covid-19 uncertainty.
The company continues to expect a loss of the year ending Nov. 30 .

Bought to close KSS 10/09/2020 21.0 Diagonal Calls / Sold KSS 10/16/2020 21.50 Diagonal Calls @ 0.12 Credit plus a 0.50 higher strike.
No earnings next week for this one
KSS @ 21.68

Buying more time – bringing in $cash

Bought to close VXX 10/09/2020 25.0 Puts / Sold VXX 10/16/2020 25.0 Puts @ 0.29 Credit
Bought to close VXX 10/09/2020 24.50 Puts / Sold VXX 10/16/2020 24.50 Puts @ 0.34 Credit
Bought to close VXX 10/09/2020 24.0 Puts / Sold VXX 10/16/2020 23.50 Puts @ 0.02 Credit plus a 0.50 lower strike
Bought to close VXX 10/09/2020 23.50 Puts / Sold VXX 10/16/2020 23.0 Puts @ 0.11 Credit plus a 0.50 lower strike.

I have lots of short VXX calls expiring today too.

Done with worrying about VXX for this week.

Swimming against the riptide on this one:
Bought 1 VXX Dec 18 2020 60.0 Call @ 0.63
Bought 1 VXX Dec 18 2020 50.0 Call @ 0.92

I will surely write against these several times.

Quite a while ago I rolled up an earlier long call to a 10/16/2020 336.0 Call @ 9.03.

I’ve written against this long several times, some trades better than others.

Since this call is closing in on expiration, and many of my short calls are at or above this strike price, I’m rolling the long out to December for a credit and much more time.

Sold to close the 10/16/2020 Call @ 8.97 for a very minor loss.
Bought to open a 12/18/2020 355.0 Call @ 8.70 for 0.27 Net credit on the trade.

We will see if we get a further rally above 343.50 in the next 6 days to make my timing wrong on this.

Spanning the election mess
Bought to open 1 SPY Nov 27 2020 360.0 Call / Sold 1 SPY Oct 26 2020 346.0 Call @ 0.07 Credit.
Giving at least one of my spreads room to run on an upside move.

Last roll
Bought to Close 1 SPY Oct 07 2020 340 Call / Sold to Open 1 SPY Oct 12 2020 343 Call @ 0.71 Net Credit plus a 3 point bump in the short strike.

Actually took a small profit on the 340 call from Monday’s roll.

Once SPY breeched 341, I began to place my roll orders
Bought to Close 1 SPY Oct 07 2020 335 Call / Sold to Open 1 SPY Oct 12 2020 336 Call @ 0.25 Net Credit
Bought to Close SPY Oct 07 2020 336 Call / Sold to Open SPY Oct 12 2020 337 Calls @ 0.54 Net Credit
Bought to Close 1 SPY Oct 07 2020 338 Call / Sold to Open 1 SPY Oct 09 2020 338 Call @ 0.41 Net Credit
Bought to Close SPY Oct 07 2020 339 Calls / Sold to Open SPY Oct 09 2020 341 Calls @ 0.22 Net Credit.

Pushed all my strike prices up.

Puts this morning – calls this afternoon
Bought to Open VXX Nov 20 2020 70 Calls / Sold to Open VXX Oct 09 2020 27.5 Calls @ 0.03 Net Credit

Trying to keep my positions balanced although I still have more puts short than calls, and the strikes are closer to the stock than the calls.

High so far on VXX is 25.54

Bought to open VXX Jan 15 2021 15.0 Puts / Sold to Open VXX Oct 09 2020 24.0 Puts @ 0.03 Net Credit.
I expect the short to expire leaving me with a few more “no cost” longs for next January (or I can roll).

Also Sold to Open VXX Oct 09 2020 23.50 Puts @ 0.12

Pretty benign range for VXX today. 24.39-24.81 with half the day gone

Bought to close 1 SPY Oct 05 2020 338 Call / Sold to Open 1 SPY Oct 07 2020 340 Call @ 0.50 Net Credit.

SPY rallied 5 points today so getting almost a point for a call 3 points out of the money this morning just wasn’t enough premium I guess.

Selling a small diagonal with the short side next week instead of this week..
Bought to open VXX Jan 15 2021 16 Puts / Sold to Open VXX Oct 16 2020 23.5 Puts @ 0.07 Net Credit.
I expect the short to expire leaving me with a few more “no cost” longs for next January.

I’m thinking the VIX pulls back dramatically by Thanksgiving based on the skew in the VIX futures.

Sold ADS Oct 09 2020 51.0 Covered Call @ 0.25
Sold KSS Oct 09 2020 22.0 Covered Calls at $0.22
Sold WBA Oct 09 2020 37.5 Covered Call at $0.15
Sold WDC Oct 09 2020 40.0 Covered Calls at $0.07

Enough for this week’s grocery store run 🙂

It’s happening again

VIX up 4%
S&P up 1.3%

Arrrggg 🙂

Sold to Open SPY Oct 09 2020 340 Diagonal Calls at $2.22 & 2.66
Sold to open SPY Oct 07 2020 339 Diagonal Calls at $1.83 & 2.27
Sold to open 1 SPY Oct 05 2020 338 Diagonal Call at $0.90

Sold these to replace the 10/02/2020 335 calls that expired and the 10/02/2020 336 Calls I covered for a penny on Friday.

Bought to Open 1 SPY Nov 20 2020 360 Call /Sold to Open 1 SPY Oct 07 2020 335 Call @ 0.58 Net Credit
Bought to Open 1 SPY Nov 20 2020 355 Call /Sold to Open 1 SPY Oct 09 2020 335 Call @ 0.14 Net Credit

Bought to close SPY Oct 02 2020 336 Calls at $0.01. (Tried to cancel the order but was too late)
Sold these at 4.52 last week.

Bought to Close SPY Oct 02 2020 334 Call / Sold to Open SPY Oct 07 2020 338 Call @ 0.82 Net Credit plus a 4 point higher strike for Next Wednesday.

The SPY high for the last 10 days has been 338.74.

Bought to close VXX Oct 02 2020 25.5 Calls @ 0.09. Sold these last Friday at 0.32 and 0.41.
Replaced them with some VXX Oct 09 2020 31.0 Calls @ 0.12.
VXX is at 25.40. Not chancing a bounce in the last 20 minutes that could put them back in the money.

I’m pretty confident that my VXX 26.0 Calls will expire though.

Sold another VXX 10/09/2020 25.0 Put at 0.71 – adding to my position
Also
Sold VXX 10/09/2020 24.0 Puts at 0.24 – also adding.

I have a huge bunch of 24.0 and 24.50 puts expiring in an hour.
VXX is at 25.35

Sold KSS Oct 09 2020 21 Diagonal Calls at $0.16 for next week.
Waiting on 20 & 20.50 calls to expire today.

added some for next week:
Sold VXX Oct 09 2020 30 Call at $0.42
Sold VXX Oct 09 2020 29.5 Call at $0.46
Sold VXX Oct 09 2020 29 Call at $0.55

Sold VXX Oct 09 2020 24.5 Puts at $0.44
Sold VXX Oct 09 2020 24.0 Puts at $0.26

All these are hedged with VXX Nov/Dec long positions for the Calls and 2021/2022 long positions for the puts

The first of many potential rolls for today’s expiration
Bought to Close SPY Oct 02 2020 330 Call / Sold to Open SPY Oct 05 2020 331 Call @ 0.42 Net Credit plus a one point higher strike for Monday.
Bought to Close SPY Oct 02 2020 331 Call / Sold to Open SPY Oct 05 2020 332 Call @ 0.43 Net Credit plus a one point higher strike.
Bought to Close SPY Oct 02 2020 333 Calls / Sold to Open SPY Oct 05 2020 335 Calls @ 0.19 Net Credit plus two points higher (and currently out of the money for the moment).

Still have 334, 335 and 336 Call to deal with by the close.

Sold 1 VXX 10/09/2020 28.50 Call @ 0.68 & 1 VXX 10/09/2020 25.0 Put at 0.66 for a net credit of 1.34.

Sold to open KSS Oct 02 2020 20 Covered Calls @ $0.17
Sold to open KSS Oct 02 2020 20.5 Diagonal Calls @ $0.07.
The stock is up a point today partly due to the surprise move in BBBY after a blowout earnings report.

I’ll roll these tomorrow if necessary.

Bought to close 1 WBA 10/02/2020 36.0 Put @ 0.28.
Sold this on 09/09/2020 @ 1.33.

Still short a WBA 10/16/2020 35.0 Put that was also sold on 09/09 @ 1.39

New Diagonals leading up to the election date
Bought to Open VXX Nov 06 2020 50 Call / Sold to Open VXX Oct 09 2020 27.5 Call @ 0.03 Net Credit.
Bought to Open VXX Oct 30 2020 39 Call / Sold to Open VXX Oct 09 2020 27.0 Call @ 0.03 Net Credit.

Also started new positions for next week:
Sold to open VXX Oct 09 2020 29 Call at $0.32
Sold to open VXX Oct 09 2020 28.5 Calls at $0.36

Sold these against existing Nov and Dec long Calls.

The VIX is making a bit of a run today in the face of an up market.
With these trades I’ve balanced out all my short calls and short puts.
All the positions are now “Short Calendar Iron Condor Spreads” according the Fidelity’s site until tomorrow’s expiration.

Bought to close VXX 10/02/2020 23.50 Puts @ 0.01.
They won’t trade any lower.

Dividend yield now 10.5 %.
I’m guessing a cut is in the future.
The question is, how far might it drop?

Puts earlier, now calls (or at least call spreads) to help balance out the positions.
Sold VXX Oct 02 2020 25.5 Calls at $0.33 and $0.40.
Sold VXX Oct 02 2020 26.0 Calls at $0.24 and $0.32.
These all filled with VXX between 24.75 and 25
Bought Oct 30 2020 42, 45, 47 and 50 calls as a hedge with small net credits overall.

Except in the overnight market I didn’t get the hoped for SPY pullback. So I’m beginning to roll up for Friday’s expiration instead.
Bought to Close SPY Sep 30 2020 334 Calls / Sold to Open SPY Oct 02 2020 336 Calls @ 0.37 Net Credit
Bought to Close SPY Sep 30 2020 333 Calls / Sold to Open SPY Oct 05 2020 335 Calls @ 0.12 Net Credit .

I got a two point higher strike for Friday with SPY trading at 336.50.

Sold VXX Oct 02 2020 23.5 Puts at $0.11
Sold VXX Oct 02 2020 24.0 Puts at $0.33
Sold VXX Oct 02 2020 24.5 Put at $0.64.
Sold against 2021 and 2022 puts already long from earlier diagonal spreads.

Somebody thinks the VIX is going to drop tomorrow. All these filled near the end of the day and went even higher.
Sold VXX Oct 02 2020 23.5 Puts at $0.10
Sold VXX Oct 02 2020 24.0 Puts at $0.21
Sold VXX Oct 02 2020 24.5 Put at $0.48

What if the VIX doesn’t go up?

https://www.zerohedge.com/markets/crash-risk-what-if-election-not-doomsday-event-vix-expects-it-be

If you intend to watch, remove all sharp objects and fragile home furnishings from your TV room. Start drinking at least one hour in advance. Consider a small dose of horse tranquilizer.

Sold to open WDC Oct 02 2020 41 Calls at $0.31

Covered up part of my long stock yesterday
Sold SLB 10/02/2020 17.0 Calls @ 0.25
Sold SLB 10/02/2020 17.5 Calls @ 0.13

Bought to Close SPY Sep 28 2020 330 Calls / Sold to Open SPY Sep 30 2020 331 Calls @ 0.20 Net Credit

Bought to Close SPY Sep 28 2020 331 Calls / Sold to open SPY Sep 30 2020 333 Calls @ 0.04 Net Credit.
Bought to Close SPY Sep 28 2020 332 Call / Sold to open SPY Sep 30 2020 334 Call @ 0.42 Net Credit.
Two points better off on the short strike on both.

Bought to open 1 SPY 10/26/2020 346.0 Call / Sold 1 SPY 09/30/2020 334.0 Call @ 0.04 Credit
Betting on some downside volatility after tomorrow’s debate.
Hoping to get re-write opportunities all though October

Sold WFC OCT 16 2020 $27 CALLS @ 0.18

Sold 1 WBA OCT 02 2020 $37.50 Covered Call @ 0.17
Sold WBA OCT 02 2020 $38.00 Diagonal Calls @ 0.12
The stock range is 35.83 to 36.36 so far today

Sold 1 SPY Sep 28 2020 330.0 Diagonal Call at $0.61

Also set up a new diagonal spread:
Bought to Open 1 SPY Oct 16 2020 348 Call / Sold to open 1 SPY Sep 28 2020 330 Call @ 0.22 Net Credit

Bought to close WDC Sep 25 2020 40.0 Diagonal Calls at $0.01. It won’t trade any lower.
Replaced these with WDC Oct 02 2020 40.0 Diagonal Calls at $0.43

Bought to close SPY Sep 25 2020 334 Call at $0.01. (Sold Wednesday @ 1.15)
Bought to close SPY Sep 25 2020 333 Call at $0.01. (Sold last Friday @ 5.12)
They won’t trade any lower.

Replaced them:
Sold 1 SPY Sep 28 2020 329.0 Diagonal Call at $0.55
Sold 1 SPY Sep 30 2020 329.0 Diagonal Call at $1.34

Bought to close VXX Sep 25 2020 26.0 Puts at $0.22. Sold last Friday on a roll down at $2.46.

Replaced them with short VXX Oct 02 2020 24.5 Puts at $0.29 for a 0.07 Net Credit.

With VXX bouncing around on both sides of the strike price yesterday, I’m not waiting for expiration.

Squeezing some lunch money out of this one for tomorrow
Sold SLB Sep 25 2020 17.5 Covered Calls at $0.05

Covered up my last long call for a diagonal spread when SPY sprinted to 325.50.
Sold 1 SPY Sep 28 2020 332 Call at $0.52.

I have two short calls expiring (I hope) tomorrow at 333 and 334.

Looking at a 6 month chart.
Support seems to be in a band from 320 to 322.
We are testing that now.
If SPY breaks 320, not much support until 300 or so.
And the VIX could easily spike 10 -20%

Western Digital has given back almost all of yesterday’s big up move.
Two pieces of news yesterday:

Craig-Hallum analyst Christian Schwab upgrades Western Digital (NASDAQ:WDC) from Hold to Buy and raises the price target from $44 to $62.

Western Digital shares have sprung to life amid speculation that a corporate reorganization announced on Tuesday could be a prelude to a split into two companies, one focused on disk drives and the other on flash memory products.
Western Digital (ticker: WDC) said late Tuesday that it had created two separate business units, one focused on drives and the other on flash. The company also announced that it had hired a former Symantec and Cisco executive, Robert Soderbery , as general manager of the flash unit — and that it was looking for a leader for the hard drive business.
The company gave no indication that it planned to divest or spin either of the two businesses, but some analysts think CEO David Goeckeler may be laying the groundwork for major structural change at the company.

The puts get interesting around the $40 area.
A double bottom there in June and in August.
Trying for a 40/30 diagonal Bull Put Spread.

Sold VXX Sep 25 2020 30.50 Calls at $0.13.
Balancing out short puts.
Hedged with Nov long calls.

Sold 1 SPY Sep 25 2020 334.00 Diagonal Call @ 1.16.

I have SPY 332, 333, & 334 short diagonal calls hopefully expiring today

Big move in WDC this morning. Up almost 10%
Wrote my covered Calls way too early.
Sold WDC Sep 25 2020 41 Calls at $0.22

Bought to open KSS Nov 20 2020 32.50 Calls/ Sold KSS Sep 25 2020 22.50 Calls @ 0.06 Credit
Bought to open SLB Jan 15 2021 27.50 Calls/ Sold SLB Sep 25 2020 18.00 Calls @ 0.04 Credit.
I have long stock in both these names but I have not written covered calls on them for this week yet.
Let’s see how the spreads work out in the next few days.

Sold SPY Sep 23 2020 332.00 Calls at $0.43 against already long calls in October.