This may expire if the market stays up but ….

Bought to close VXX 06/19/2020 35.0 Calls / Sold VXX 06/26/2020 39.0 Calls @ 0.39 Credit plus 4 points on the short strike.

I rolled this up from a strike 34.0 last week and now the short strike is well out of the money.

Bought to open VXX 06/17/2022 8.0 Puts / Sold VXX 06/26/2020 34.0 Puts @ 0.07 Credit.
I can roll the short Puts weekly for the next 2 YEARS

Bought to close ADS 06/19/2020 52.0 Covered Calls / Sold ADS 06/26/2020 52.50 Covered Calls @ 1.52 Credit plus an additional 0.50 on the strike price.

Someone assigned my short 302 call for next Monday before I could roll it.
Luckily I still have a long July Call that is close to ITM.

Still….. it’s messy in an IRA

Bought to close 1 CINF 06/19/2020 65.0 Put / Sold 1 CINF 07/17/2020 60.0 Put @ 0.60 Credit plus a 5.00 point lower strike.

Bought to close 1 ADS 06/19/2020 47.0 Covered Call / Sold 1 ADS 06/26/2020 50.0 Call @ 0.10 Credit + 3.00 better strike for only one more week.

https://www.zerohedge.com/markets/what-expect-after-tomorrows-massive-option-expiration

“The short-term setup for an SPX pullback coming out of tomorrow’s Op-Ex is there, particularly as we see a “clustering” of the CTA deleveraging- and Dealer Gamma- levels not far below market.”

Maybe someone could translate this into plain English for me.
I don’t speak “quant”

Bought to close 1 CINF 06/19/2020 65.0 Put / Sold 1 CINF 08/21/2020 50.0 Put @ 0.24 Credit.

A little history:
04/30 – Sold 05/15/2020 65.0 Put @ 0.90 (big mistake)
05/14 – Rolled 05/15/2020 65.0 Put to 06/19/2020 65.0 Put @ 0.80 Credit (was 15 points ITM)
Today – Rolled the Jun 65 Put down to the August 50.0 Put @ 0.20 Credit ( I would take the stock here near the Covid low).
My Cash backed put requirement just dropped $1500.
Today is the first day that the August contracts traded on this stock.

One example of a Short Calendar Iron Condor Spread :
For those wondering why/how I’m managing all the VXX trades here is an example of one:
+1 Aug 21 2020 85.00 C
-1 Jun 19 2020 45.00 C
-1 Jun 19 2020 33.00 P
+1 Jan 15 2021 13.00 P
They are charging the $4000 call spread requirement but $0 on the put spread.
Given the recent (last 4 days) of trading in VXX, both the shorts are likely to expire.
If not, if VXX advances I would roll the 45 out and up, if it declines, I will roll the put out and down. If it stays near the centerline, I would likely roll laterally for additional premium for next week. But no action is likely until after 2pm Friday to allow all the time value to leach away from this week’s short options.

Sold VXX 06/19/2020 70.0 Calls @ 0.13
Sold VXX 06/19/2020 75.0 Call @ 0.11.
I’m surprised that they were worth anything 🙂

I wrote against these 5 times since I bought them on 5/13 , including the first write that totally paid for them.

Just in case anyone else is holding CINF, it went Xdiv 0.60 today and is still up 2.25

I missed posting this one after the opening spike in the VIX Monday morning.
Since the VIX went into a major retreat later in the day, this one is not available now.
Bought to open 1 VXX 07/31/2020 70.0 Call / Sold 1 VXX 06/19/2020 45.0 Call @ 0.02 Credit.

Looking to pick up a free long to replace Long 70 calls I hold for this Friday.

Sold VXX 06/19/2020 34.0 Put @ 0.63
Sold VXX 06/19/2020 33.5 Put @ 0.55
Sold VXX 06/19/2020 33.0 Put @ 0.43
Sold VXX 06/19/2020 32.5 Puts @ 0.37
Sold VXX 06/19/2020 32.0 Puts @ 0.26
Sold VXX 06/19/2020 31.0 Puts @ 0.19

Re-establishing diagonals against 2021 and 2022 long puts

with the stock at 40.99
Bought to close VXX 06/12/2020 34.0 Calls / Sold 06/19/2020 35.0 Calls @ 0.16 Credit + 1.0 point bump in the strike price. (rolls are getting worse as the day goes on).

Bought to close 1 VXX 06/12/2020 37.0 Call / Sold 1 06/19/2020 42.0 Call @ 0.09 Credit + a big 5.0 point bump in the strike price for next week with the stock at 38.48.

Edit: with the stock at 41.02 added this –
Bought to close VXX 06/12/2020 36.0 Calls / Sold 06/19/2020 39.0 Call @ 0.05 Credit + a 3.0 point bump in the strike price.

Edit2: with the stock at 41.76 added this –
Bought to close VXX 06/12/2020 35.0 Calls / Sold 06/19/2020 36.50 Call @ 0.05 Credit + 1.5 point bump in the strike price. (rolls are getting worse as the day goes on).

Bought to close ADS 06/12/2020 49.0 Covered Calls / Sold ADS 06/19/2020 52.0 Covered Calls @ 0.05 Credit plus an additional 3.00 points on the strike price for one more week.

Late fills
Bought to close WBA 06/12/2020 41.0 Covered Call / Sold WBA 06/19/2020 41.50 Covered Call @ 0.31 Credit plus an additional 0.50 on the strike price.
Bought to close OXY 06/12/2020 17.0 Covered Calls / Sold OXY 06/19/2020 17.50 Covered Call @ 0.52 Credit plus an additional 0.50 on the strike price for one more week.

Bought to close 50% of my VXX 06/12/2020 30.5 Puts @ 0.01.
Sold these last week at an average cost of 2.17.

Now it looks like I’ll have to roll all my short calls instead.

Bought to open 1 VXX 09/18/2020 80.0 Call / Sold 1 VXX 06/12/2020 36.0 Call @ 0.14 Credit.
If this market flattens out after this 1300 point drop in the DJIA I should have a free September long position.

If the market continues to fall, I’ll roll the short up and out a week.

Bought to close 1 WFC 06/12/2020 27.0 Covered Call / Sold 1 WFC 06/19/2020 27.50 Covered Call @ 0.34 Credit plus a 0.50 higher strike price.
Bought to close WFC 06/12/2020 27.5 Covered Calls / Sold WFC 06/19/2020 28.50 Covered Calls @ 0.20 Credit plus a 1.00 higher strike price.

Bought to close 1 ADS 06/12/2020 46.0 Covered Call / Sold 1 ADS 06/19/2020 47.0 Covered Call @ 0.90 Credit plus a one point higher strike price.

Hard to believe this stock was above 66 on Monday

Bought to close CINF 06/19/2020 60.0 Covered Calls / Sold 07/17/2020 60.0 Covered Calls @ 1.90 Credit.

Bought to close SLB 06/12/2020 19.00 Calls / Sold SLB 06/19/2020 19.50 Calls @ 0.20 Credit plus 0.50 higher strike.

Bought to close WFC 06/12/2020 28.0 Calls / Sold WFC 06/16/2020 28.50 Calls @ 0.02 Credit but a 0.50 higher strike.

Bank stocks are not thrilled with sustained low interest rate forecasts by the Fed through 2022

One of my AAL 06/12/2020 12.0 Covered Calls was assigned.
Bought stock on 04/03 @ 9.86 with weekly writes since then.

Sold VXX 06/12/2020 36.0 Calls @ 0.33 and Sold VXX 06/12/2020 37.0 Calls @ 0.26 to write against my remaining long VXX calls.

Now hoping the stock stays above 31 and below 34 on Friday’s close.
(I’m not asking for much 🙂 )

Bought to close VIAC 06/12/2020 22.00 Calls / Sold VIAC 06/19/2020 22.00 Calls @ 0.15 Credit.
I guess I’ll have to wait for a bigger pullback to roll this up.

Bought to close 1 CINF 06/19/2020 55.0 Covered Call / Sold 1 07/17/2020 55.0 Covered Call @ 0.60 Credit.
Bought to close 1 CINF 06/19/2020 60.0 Covered Call / Sold 1 07/17/2020 60.0 Covered Call @ 1.30 Credit.

The stock is ex-dividend for 0.60 on 06/16 and I want to keep the dividend. The June options would likely be assigned before expiration.

Bought to close 1 CINF 06/19/2020 60.0 Covered Call / Sold 1 07/17/2020 60.0 Covered Call @ 0.90 Credit.

The stock is also ex-dividend for 0.60 on 06/16 and I want to keep the dividend. The June option would likely be assigned before expiration.

Bought to open 100 SQQQ / Sold 1 SQQQ 06/26/2020 10.0 Covered Call @ 8.32 Debit
– stock bought @ 8.48

Bought to open 100 SQQQ / Sold 1 SQQQ 06/26/2020 10.0 Covered Call @ 8.37 Debit – stock 8.53
Bought to open 100 SQQQ / Sold 1 SQQQ 06/26/2020 10.5 Covered Call @ 8.37 Debit – stock 8.49
Day’s Range $8.43 – $8.82

Expired:
VXX 06/05/2020 40.00 Diagonal Calls
VXX 06/05/2020 33.00 Diagonal Calls
VXX 06/05/2020 32.50 Diagonal Calls

Assigned:
CCL 06/05/2020 16.50 Covered Call

Bought to open 01/21/2022 8.0 Puts / Sold 06/12/2020 29.0 Puts @ 0.27 Credit
The long is 595 DTE and the short is 7 DTE with the stock at 29.14

Bought to close AAL 06/05/2020 12.00 Calls / Sold AAL 06/12/2020 12.00 Calls @ 0.28 Credit.
I’ll have to wait for a pull back to roll up in the future.

Funny headline on zerohedge:
“We Still Expect To Be Paid” – America’s Largest Mall Operator Sues Gap For $70M In Back-Rent

“Like watching drunk hobos fight over a half-eaten sandwich at 3am…

Simon Property Group, one of the biggest – if not the biggest – mall operator in the US, us suing GAP, one of its largest tenants, claiming the retailer failed to pay more than $65.9 million in rent and other charges due during the coronavirus pandemic.
CNBC, which brought us the story, says the battle is unfolding in a Delaware state court. The lawsuit “highlights the mounting tension between retail landlords and their tenants, many of which stopped paying rent after the crisis forced them to shut stores.” It was filed on Tuesday. And a reporter at CNBC was apparently told to “expect more” lawsuits, apparently by somebody at SPG.

Bought to close 1 CINF 06/19/2020 70.00 Put / Sold 1 CINF 09/18/2020 65.00 Put @ 0.30 Credit plus a BIG 5 point drop in the strike price.
Stock is 64.32

Bought 1 VXX 08/21/2020 75.0 Put @ 0.53.

Sold VXX 06/05/2020 32.50 Calls @ 0.22
Sold VXX 06/05/2020 33.00 Calls @ 0.12
These pair off with the August long calls I bought over the last two days.

Just to be safe after VXX blew through this week’s strike:
Bought to close VXX 06/05/2020 31.50 Puts / Sold VXX 06/12/2020 30.50 Puts @ 0.10 Credit plus a 1.0 point lower strike

about to gap up

Bought 100 SQQQ / Sold 1 SQQQ 06/12/2020 10.50 Covered Call @ 8.88 Debit
Bought 100 SQQQ / Sold 1 SQQQ 06/19/2020 11.00 Covered Call @ 8.83 Debit.
Giving both room to run before hitting the strikes if this market finally pulls back.

Following Jeff from yesterday.
Bought 1 VXX 08/20/2020 80.00 Call @ 0.48.
This strike is 5 points lower than my earlier buy

Sold OXY 06/05/2020 17.00 Covered Calls @ 0.06. Two days until expiration with the stock at 15.35

Following Jeff from yesterday.
Bought 1 VXX 08/20/2020 85.00 Call @ 0.43.
I will be writing against this weekly and should be able to cover my cost in a few weeks.

Sold to close 1 SPY 06/19/2020 310.00 Call / Bought 1 SPY 08/21/2020 325.00 Call @ 0.34 Credit.
Bought the 310 call @ 1.97 and sold today @ 5.68.

I will continue and roll out the short calls in the diagonal weekly until August.

Edit: Rolled 1 SPY 06/03/2020 299.0 Call to a 06/10/2020 300.0 Call for a 0.05 Credit and pushed the strike up a point.

Sold the last lot of SPY @ 309.62 in the pre-market. Bought this @ 230.00 in March.

S&P Futures Surge 10 Points In One Tick On $3.2BN Market On Close Buy Imbalance

With the Nasdaq starting to lag a bit, I’m looking at covered call trades for SQQQ. The stock is just a few cents off it’s all time low of 9.23 set today.
Looking to write near term 10.50 or 11.00 covered calls to give it a bit of room to run.

The contango drag is powerful with this one so stay small..

Remember the old saying for markets – escalator up – elevator down

Bought to open VXX 06/17/2022 7.00 Puts / Sold to open 06/12/2020 31.00 Puts @ 0.17 Credit.
The short is 10 dte ( a bit longer than normal for me) and the long is 2 years (745 dte).
I think contango drag in VXX will help my long position eventually?

Sold VXX 06/05/2020 31.00 Puts @ 0.27 against 2021 and 2022 long puts

The FAAMGs Are Up 15% In 2020; The Remaining 495 S&P Stocks Are Down 8%

New diagonal
Bought to open VXX Jan 21 2022 6.0 Puts / Sold VXX Jun 03 2020 31.0 Puts @ 0.09 Credit.
The short is 7 dte and the long is 602 dte, and I can write a new option every week.

Expirations – everything else was rolled out a week
OXY 05/29/2020 17.00 Covered Calls
SLB 05/29/2020 19.00 Diagonal Calls
VXX 05/29/2020 30.00 Diagonal Puts
VXX 05/29/2020 30.50 Diagonal Puts

Assignments – no good roll was available for additional cash flow so I’m letting these go..
AA 05/29/2020 8.00 Covered Calls
WBA 05/29/2020 37.50 Covered Call (I got the initial time premium plus the $0.4575 Div)

Bought to close SLB 05/29/2020 19.50 Covered Calls / Sold SLB 06/05/2020 19.50 Covered Calls @ 0.14 Credit

https://www.zerohedge.com/markets/atlanta-fed-now-sees-q2-gdp-collapsing-staggering-51

Nothing to see here

Bought to close CCL 05/29/2020 16.00 Covered Call / Sold CCL 06/05/2020 16.50 Call @ 0.30 Credit plus an extra half point higher on the strike for one more week.

Bought to close VIAC 05/29/2020 21.00 Diagonal Calls / Sold VIAC 06/05/2020 22.0 Calls @ 0.07 Credit plus an extra point higher on the strike for one more week.

Bought to close SLB 05/29/2020 18.00 Calls / Sold SLB 06/05/2020 18.00 Calls @ 0.22 Credit
Bought to close SLB 05/29/2020 18.50 Calls / Sold SLB 06/05/2020 19.00 Calls @ 0.02 Credit but a 0.50 higher strike for next week.
Still cash flow positive.

Bought to close WFC 05/29/2020 27.50 Calls / Sold WFC 06/05/2020 28.00 Calls @ 0.24 Credit plus a 0.50 higher strike

Sold another lot of my SPY @ 306.12. Bought this on 3/16 @ 240.00
I honestly didn’t think it would get back here.
My last remaining lot was bought @ 230.00 and I will enter a sell order now another 2.50 higher.

ps. you’d think the VIX would be collapsing today as we hit new highs, but it is flat