Sold $SPX 1/8 3640/3665/3805/3830 iron condor @ 4.05. Short puts 14 delta, short calls 13 delta.

$TQQQ 12/31 135 puts
$TQQQ 12/31 142 puts
$UVXY 12/31 12/17 bear call spread
$AMZN 12/31 2950/2940 bull put spread

Happy New Year everyone! Wishing a great, healthy, prosperous 2021 to the Bistro family.

Sold $SQ 2/19 180 put @ 5.00

Bought to close $DOCU 1/15 185/195/260/270 iron condor @ 1.23. Sold for 2.95 on 12/9.

Sold $ZM 1/15 330/340/450/460 iron condor @ 3.35. IV rank 42.

Got back to my desk and saw that this closing order was filled. Bought to close $ZM 12/18 350/360/460/470 iron condor @ .50. Sold for 2.89 on 12/3.

Sold $DOCU 1/15 185/195/260/270 iron condor @ 2.95 with the stock trading around 225. Short puts 17 delta, short calls 22 delta. IV rank 31.

Bought to close $DOCU 12/18 260/270 bear call spread @ .55. Sold for 1.90 on 12/4.

$DOCU looks to be getting all tuckered out from all the earnings excitement and looks to be needing a little break. Sold 12/18 260/270 bear call spread @ 1.90 with the stock at 244.80.

Today’s candle kinda resembling a tombstone doji, with the current pricenot too far from the lows/bottom of the AM post-earnings gap. IV rank is 33.

Sold $ZM 12/18 350/360/460/470 iron condor for 2.89. Stock around 410. A couple of notes of caution. Liquidity isn’t great in this so that is informing my position size. Also, with the fact that expiration is close (around 2 weeks) it will not leave a lot of time for adjustments if the stock moves strongly again in either direction. But IV rank is 43 so if the stock movement calms down I would expect some IV contraction that will help this position.

Sold 1/15 360/350 bull put spread @ 2.60

Sold $SPX 12/2 3505/3530/3660/3685 iron condor @ 4.30. Short puts 13 delta, short calls 15 delta.

Sold 12/18 185 put @ 2.25

Bought to close $BOIL 12/18 60/70 bear call spread @ .10. Sold for 1.30 on 8/5. Nice profit but almost 4 months to get there even as the underlying was mostly trending down since August. Low liquidity played a big part as well, not allowing me to get out for a decent price. Finally able to take it off today. Barring any crazy moves in nat gas, I will probably avoid this one going forward.

BTC 12/4 155/177.50 strangle (earnings trade) @ 1.87. Sold for 4.11 yesterday.

Bought to close $DOCU 11/20 180/190/250/260 @ 1.59 for around 47% of the profit. Sold for 3.00 on 10/22. With the recovery since mid yesterday and the stock now above 204, I took the opportunity to get out for a profit. IV has increased since I sold this which is of course the opposite of what I wanted but enough time decay has happened so theta beats vega this time.

Not political, just observing that Mitch McConnell’s comments about Trump’s legal fight(s) may have gotten some notice: https://www.zerohedge.com/political/mcconnnell-backs-trump-push-recounts-says-shouldnt-accept-election-results-media

Things could get hairy for a while in the markets before they calm down if election uncertainty gets priced back into this again.

Rolled $ADBE 11/20 470/460 bull put spread up to 485/475 @ 1.40 credit. After multiple rolls on both sides of this original iron condor, the position has now been adjusted to ultimately become an iron butterfly with total premium collected of 7.30. With wing widths of 10 points, that leaves the max loss at 2.70 which I am okay to sit with through expiration. I will probably put a GTC order in probably for somewhere around 7.00 to get out of this wild garden hose of a trade for near breakeven.

Sold $SPX 11/6 3300/3325/3530/3555 iron condor @ 4.20. Short strikes at 12 delta.

Rolled $ADBE 450/440 bull put spread up to 470/460 for 1.12 credit. Part of iron condor with 485/495 bear call spread (which has previously been rolled down). Total premium taken in now 5.91.

Rolled $ADBE 550/560 bear call spread down to 485/495 for 1.35 credit. Part of iron condor with 450/440 bull put spread. Total premium taken in 4.79.

Rolled $ZM 560/570 bear call spread down to 500/510 for 1.55 credit. Paired with 460/450 bull put spread. After two roll downs of the bear call spread side, total premium taken in is now 5.79.

Expiring today: $SPX 10/30 3190/3215/3375/3400 iron condor

Rolled $ZM 680/690 bear call spread down to 560/570 for 1.10 credit. Paired with 460/450 bull put spread for an iron condor which I originally sold for 3.14 on 10/16. Total premium now 4.24.

Sold $BIIB 12/18 215/200 bull put spread @ 5.25. IV rank 83.

Sold 11/20 90 put @ 3.70

Sold $MMM 12/18 150 puts @ 3.55. Willing to take assignment at a cost basis of 146.45, which is below the lows from August.

Sold 11/20 430/440/545/555 iron condor @ 2.80

Sold $DOCU 11/20 180/190/250/260 iron condor @ 3.00. Short strikes both around 19 delta. Earnings not expected until after expiration. IV rank 32.

Sold $NFLX 11/20 455/445 bull put spread @ 2.42.

Sold $ZM 11/20 450/460/680/690 iron condor @ 3.14. IVR 43. Earnings not expected until after Nov expiration.

Sold $ADBE 11/20 440/450/550/560 iron condor @ 3.44. Short strikes both at 21 delta. Stock now around 497, trading near the middle of the recent range. IV rank 30. Earnings not expected until after opex.

Bought to close $ADBE 10/16 450/460/510/520 iron condor @ 2.52.

Position was originally 420/430/510/520 and put spread was rolled up to 450/460. Total premium taken in 4.29, so 1.77 profit (57% of the premium for the original trade).

Bought to close $NVDA 10/16 470/480/590/600 iron condor @ .95. Sold for 2.65 on 9/29.

Bought to close $AMZN 10/16 2650/2700/3500/3550 iron condor @ 2.40. Sold for 14.39 on 9/11.

Sold $TQQQ 11/16 85 puts @ 4.50

Adjusting $NVDA 10/16 430/440/550/560 iron condor with the stock around 543. Rolled 440/430 bull put spread up to 505/495 @ 1.83 credit. Short puts 22 delta. Total credit in trade now 5.21.

Bought to close $NFLX 10/16 465/455 bull put spread @ 1.58. Sold for 3.45 on 9/21.

Sold $NVDA 10/16 470/480/590/600 iron condor @ 2.65 with the stock around 530. Short strikes around 16 delta. IV rank 35.

$ADBE Adjusted my 10/16 420/430/510/520 iron condor. Rolled the 430/420 bull put spread up to 460/450 for 1.18 credit. Stock at 490.77 and looking pretty strong. Total premium now 4.29.

Sold to open $NVDA 10/16 430/440/550/560 iron condor @ 3.38

Sold $ADBE 10/16 420/430/510/520 iron condor @ 3.11. Short strikes around 20 delta. IV rank 39. My only issue with this trade is the liquidity is good but not great.

Bought to close $DOCU 10/16 180/170 bull put spread @ .90. Sold for 2.28 on 9/11.

Sold to open $NFLX 10/16 465/455 bull put spread @ 3.45. Short strike 36 delta. IV rank 32.

Sold to open $PYPL 10/16 170 puts @ 3.80. Stock is up nicely on a really weak day in the market. Delta 27, IV rank 41.

There was a good article this weekend in Barron’s on how Covid killed cash (it was on its way out before all this but the pandemic is just speeding things up). Some interesting takes on how to play it with $PYPL getting the most positive mentions. They also like $SQ $V and $MA among others. $PYPL and $SQ are both up today, not being dragged down by the ties to pandemic-reduced transaction volume that $V $MA have.

An alternative trade: 10/16 170/160 bull put spread for around 2.00.

Bought to close $AMAT 10/16 50 puts @ .72. Sold for 1.60 on 9/8.

$BABA Bought to close 9/18 270/280/290 iron butterfly @ 7.04. This was an adjusted position that began as a 225/235/280/290 iron condor that I had to start playing defense on, a few days after I entered on 8/20. The bull put spread was rolled up 3 times until the position became an iron fly with 7.16 in premium taken in. Closing today for 7.04 allows me to take the whole thing off for near breakeven.

Sold $AMZN 10/16 2650/2700/3500/3550 iron condor @ 14.39. Almost 30% the width of the strikes (short puts/calls at 15 and 18 delta). IV rank 52.

I might be a bit early on this one but the stock is down over 30% since before the earnings announcement last week and while the stock is down a little today, selling momentum seems to have slowed with price now hanging around with the 50 day moving average. Sold $DOCU 10/16 180/170 bull put spread @ 2.28. Short puts 27 delta. IV rank is 39.

Bought to close $CRWD 9/18 110/115//145/150 iron condor @ .65. Sold for 1.40 on 9/3.

Bought to close 9/18 $AMZN 2980/3000//3600/3620 iron condor @ 2.60. Sold for 6.79 on 8/18.

Let’s try this again. Sold $SPX 9/11 3300/3325/3500/3525 iron condor @ 3.95. Short deltas 14 (puts) 10 (calls).

With the stock looking weak and a decisive break below the 200 day moving average, this wouldn’t be the ideal day (at least technically) to sell puts and take a bullish position. But I am looking to potentially acquire this stock below 50 and this put sale will allow me to do that if it continues down more than another 10% at expiration. As of now it’s down almost 9% today, almost 15% over the last 4 trading days and around 20% from its intraday high on 8/14.

Sold $AMAT 10/16 50 puts @ 1.60. Delta 25. IV rank 34.

Wow

Sold to open $LABU 10/16 30 puts @ 2.00. Lowest strike in 10/16. 16 delta.

$ROKU looks to be bouncing off the 50 day moving average. Sold 10/16 140/130 bull put spread @ 2.80. Short strike 27 delta. IV rank 37. Stock trading around 159-160.

Sold $CRWD 9/18 110/115/145/150 iron condor @ 1.40.

Sold $AAPL 10/16 115/100 bull put spread @ 1.15. Short puts 24 delta. IV rank 55.

For all you signal traders, I hope you’ve been paying attention. Apparently I’m getting good at this. As soon as I put on a new SPX condor, the index immediately ran up about 25 points.

Let me know when you’re ready for a pullback and I’ll sell a put spread or something. Happy to help.

Sold $WYNN 10/16 80/70 bull put spread @ 2.88. Short puts 31 delta.

Was out of trading this for a long time but apparently I just can’t stay away now.
Channeling the short memory of a defensive back that got burned, and initiating a new 3 day trade:
Sold $SPX 9/4 3475/3500/3600/3625 iron condor @ 4.35. Short puts 15 delta, short calls 16 delta. SPX around 3558.

With SPX going up again, bought to close 9/9 3450/3475//3540/3565 @ 16.76. Feel free to consider this your signal to sell the market.

Will reinitiate with something probably later today.

I was watching this all day and it hung around just under the short calls most of the day. On the punch up above the 3520 level, I decided to roll it again keeping short delta with about 15 points of room on the upside. 3 day weekend coming as well so there’s an extra day of decay in there.
Rolled $SPX 9/4 3410/3435//3520/3545 iron condor out to 9/9 3450/3475//3540/3565 for .27 credit.

I know I said I was only going to roll this once but I guess I can’t stay away from the roll game. Let’s see what happens with this. Extending the trade to 9/4.
Rolled 9/2 3375/3400/3505/3520 iron condor out to 9/4 3410/3435/3520/3545 for .15 credit. Short puts 20 delta short calls 42 delta.

Well that was fun. My timing couldn’t have been better for all you folks looking to fade my moves. If you missed it, pay better attention next time 😉

I will do one roll of this then I’m probably done. I spent way too much time in rollout hell the last couple of years with these positions and I’m not keen on getting back into that game. But for now:
Rolled 8/28 3355/3380//3485/3510 iron condor out to 9/2 3375/3400//3505/3530 for .20 credit. Short puts 19 delta, short calls 36 delta. In exchange for the upside room I have donated 3 more days to the trade. Let’s see if we can’t get a little 20-30 point pull back in the SPX.

3 day trade
Sold $SPX 8/28 3355/3380//3485/3510 iron condor @ 3.60 credit. Short strike deltas at 13 (puts) and 15 (calls).

Rolled $BABA 9/18 270/260 bull put spread up to 280/270 for 1.21 credit. Position is now an iron butterfly (270/280/290) with the stock around 288. Total premium taken in 7.16. Nothing more to do with this. I will either take it off for a profit if the stock comes back toward 280 or will accept the max loss of 2.84.