Nice recovery today that is taking most of my short puts back out of the money. Still, I need it a bit higher.
Sold 1 TQQQ Jan 14 2022 157.5 Diagonal Call at $1.03
Sold 1 TQQQ Jan 14 2022 159.0 Diagonal Call at $0.93
#OnlySpreads
Category Archives: Uncategorized
VXX Puts
Jan 21st is fast approaching.
I have some VXX1 long puts that are deep in-the-money but VXX could go much lower by expiration day.
So, I’m squeezing out as much additional time premium as I can by writing against them before they expire.
Sold VXX Jan 14 2022 17.0 Puts at $0.08
Sold VXX Jan 21 2022 16.5 Puts at $0.14, $0.15 and $0.17
Also added a new #VXXContango Spread
Bought to Open VXX Mar 18 2022 13.0 Puts / Sold to Open VXX Jan 21 2022 17.0 Puts at $0.04 Credit.
Long position DTE = 66
Short position DTE = 10
RIVN
Yesterday I sold 1 RIVN Jan 14 2022 75.0 Diagonal Put at $2.36.
Today I’m pairing that up with 1 RIVN Jan 14 2022 91.0 Diagonal Call at $1.69
VXX Puts
Paired with numerous call sales this morning
Sold VXX Jan 14 2022 17.5 Puts at $0.15, $0.16 & $0.17
SPY SVXY
#ShortPuts – Scalp enough small ones and they start adding up.
Bought to Close SVXY FEB 18 2022 50.0 Put @ 1.30 (sold this morning for 2.10)
Bought to Close SPY FEB 18 2022 435.0 Put @ 3.30 (sold this morning @ 4.45)
TSLA Call
After the expiration of my TSLA 01/07/2022 1125.0 Diagonal Call on Friday I was left with a long TSLA Jan 21 2022 1200.0 Call trading at about 6 points. Since this position expires before #Earnings week I’m pretty certain that this position will expire worthless. It is more than paid for from previous writes against it since late November.
Instead of selling it, I’m chancing one more #DoubleDip write for this week. Who knows where it will be on Friday, but I sold some pretty aggressive TSLA puts this morning, so this will give me an extra diagonal Call spread to pair off with the puts.
Sold 1 TSLA Jan 14 2022 1,130.0 Call at $5.75
TQQQ
#LongStock – Not a big position but still a fun little scalp.
Sold stock @ 140.28 (bought this morning for 134.60)
TQQQ 2/25
Sold to open $TQQQ Feb 25 110 put @ 5.55
Rolling TQQQ
Rolled $TQQQ Jan 14 140 put down 15 points and out to 2/18 125 put @ 1.60 credit.
ROST TMUS TTWO Stock
Started a tiny new position in ROST at $103.60
Added to my TMUS position at $106.70
Back into TTWO at $140.80 after exiting it last October at $175.55.
All these buys were at new 52-week Lows (surprised that there weren’t more this morning)
#SP500
#FallingKnife
VXX Call Ladder
I have a bunch of excess long calls left over from last week’s diagonal spreads.
Starting to write against them
Sold 1 VXX Jan 14 2022 21.0 Call at $0.98
Sold 1 VXX Jan 14 2022 21.5 Call at $0.82
Sold 1 VXX Jan 14 2022 22.0 Call at $0.71
XLV Put spreads again
Bought to open XLV Mar 18 2022 115 Put / Sold to Open XLV Jan 14 2022 132.5 Put at $0.08 Credit
Bought to open XLV Mar 18 2022 116 Put / Sold to Open XLV Jan 14 2022 132.5 Put at $0.10 Credit
#OnlySpreads
TLRY
Sold TLRY Jan 14 2022 10.5 Covered Calls @ 0.08
TSLA
With two TSLA Bear Call Spreads already in place I added a couple of Diagonal Puts on the open.
Sold 1 TSLA Jan 14 2022 800.0 Put at $2.37 against an existing Jan 710 Put. #TripleDip
Bought to Open 1 TSLA Feb 04 2022 730.0 Put / Sold to Open 1 TSLA Jan 14 2022 900.0 Put at $0.55 Credit.
This gets one of my long put positions out past earnings.
SVXY
#ShortPuts – Starter.
Sold SVXY FEB 18 2022 50.0 Put @ 2.10
TQQQ
#LongStock – Tiny little buy @ 134.60 with the split coming Thursday. If I had to estimate this would be about 5 percent size.
Closing AMC
Bought to close $AMC Jan 21 22 puts @ 2.12. Sold for 2.30 on 12/17.
SPX trades
#SPX1dte STOPPED Bought to close $SPX Jan 10th 4605/4585 put spreads for 6.75. Condors sold for 1.25 on Friday. My two month slide of misery continues. As I posted earlier the $VIX really has not spiked until today, meaning my condors have not been wide enough for this dropping market. Last week I stopped trading the #SPX5dte due to persistent losses, but the 1-dte trades have ALSO been failing at an usually bad rate lately.
Closing AMZN
Bought to close $AMZN Jan 21 3150/3200/3800/3850 iron condor @ 26.55. Sold for 14.40 on 12/9.
SPY
#ShortPuts – Back to the old standby trade for implosions. Selling the expected move and below the 200 day. Starter position…
Sold SPY FEB 18 2022 435.0 Put @ 4.45
VIX Indicator
#VIXindicator This is probably the biggest drop I’ve seen since creating this indicator wherein an Upside Warning has not been canceled. It may be time to look at some of the rules and whether the behavior of $VIX and market over past couple years calls for some tweaks.
SOXL
#assignment
1/7/22 69 put , sold for 1.17
Dared Mr. market /looking to cover next week.
Markets
NASDAQ at critical support
LABU
btc, 18 MAR 2022, 50 CALL @.56 /sold for 4.50
70 days to go will take profit and wait for next bump up.
edit
OptionsExpiration
For the third week in a row all my short VXX Puts and Calls expired along with numerous re-writes against worthless old VXX long positions.
The pull back flipped my TQQQ risk from the call side to the put side so I’m looking for a NASDAQ bounceback next week.
Expired:
LABU 01/07/2022 50/42 Bear Call Spreads
LABU 01/07/2022 36.50 Covered Calls
RIVN 01/07/2022 180/107 Bear Call Spread
TLRY 01/07/2022 9.5 Covered Call
TNA 01/07/2022 110/90 Bear Call Spread
TNA 01/07/2022 90.0 Diagonal Call
TNA 01/07/2022 85.0 Diagonal Call
TNA 01/07/2022 84.0 Diagonal Calls
TQQQ 01/07/2022 190/171 Bear Call Spreads
TQQQ 01/07/2022 190/167 Bear Call Spread
TSLA 01/07/2022 1125.0 Diagonal Call
VXX 01/07/2022 17.0 Diagonal Puts
VXX 01/07/2022 17.5 Diagonal Puts
VXX 01/07/2022 19.0 Diagonal Calls
VXX 01/07/2022 19.5 Diagonal Calls
VXX 01/07/2022 30/20 Bear Call Spread
VXX 01/07/2022 31/20 Bear Call Spread
VXX 01/07/2022 32/20 Bear Call Spread
VXX 01/07/2022 33/20 Bear Call Spread
VXX 01/07/2022 34/20 Bear Call Spread
VXX 01/07/2022 48/20.5 Bear Call Spreads
VXX 01/07/2022 49/21 Bear Call Spreads
VXX 01/07/2022 50/21 Bear Call Spreads
VXX 01/07/2022 50/21.5 Bear Call Spread
LABU XLV Put Rolls
Last trades for this week
Rolled my LABU 32 Put to next week for a $0.59 Credit
Rolled down my XLV 136 Puts to next week’s 135.50 Puts for a $0.14 Credit and gained $0.50 on the short strike.
NFLX pre earnings
#JadeLizards – Playing for a little more downside selling outside the expected move on the put side. Pretty narrow window here. Earnings the following week.
Sold NFLX JAN 14 2022 510/535/540 Jade Lizard @ 5.10
VXX Puts
Looking to replace puts for this week that are just about to expire
Sold VXX 01/14/2022 17.0 Puts @ 0.07
Sold VXX 01/14/2022 17.5 Puts @ 0.15 and $0.16.
I’m long plenty of Jan 21st puts to hedge these.
#OnlySpreads
TQQQ Call Closed and Puts Rolled
Bought to close 1 TQQQ Jan 07 2022 153.0 Call at $0.01. Sold last Friday on a roll at $15.30
Rolled this week’s 153 puts down 2 points to next week’s 151 puts at $0.71 Credit
Rolled this week’s 152 puts down 3 points to next week’s 149 puts at $0.25 Credit
Rolled this week’s 151 puts down 4 points to next week’s 147 puts at $0.25 Credit
Rolled this week’s 150 puts down 5 points to next week’s 145 puts at $0.38 Credit
I have other TQQQ short calls that expire today too
SPX 1-dte
#SPX1dter Sold to Open $SPX Jan 10th 4585/4605-4760/4780 condors for 1.25, SPX at 4694, IV 10.3%, deltas -.06 +.06
Expected to expire: Jan 7th 4590/4610-4760/4780 condors, sold yesterday for 1.20.
A whole lota TSLA goin’ on
Bought to close TSLA 01/07/2022 885.0 Puts at $0.02
Closed both sides of my TSLA 880/1015 Diagonal Calendar Bull Put spread at a Credit of $1.75.
Sold this spread on Wednesday for a small Credit so a #WinWin as I had a gain on both sides of the spread.
Then I sold 1 TSLA Jan 14 2022 840.0 Diagonal Put at $1.60 against long Jan monthly Puts.
#OnlySpreads
TQQQ
STO February 18, 180/195/200 butterfly at.85
TSLA Call major rollup
Bought to close 1 TSLA Jan 07 2022 1,015.0 Diagonal Call at $8.87. Sold on a rollup last Friday at $65.31.
Sold to Open 1 TSLA Jan 14 2022 1,100.0 Call at $10.24.
A credit of $1.37 and a giant 85 Point jump in the short strike. The new strike is above today’s high of 1080.93.
My long Feb TSLA Call has now been more than paid for as we approach #Earnings in a couple of weeks.
#OnlySpreads
TQQQ,
STO February 25, 115 put at 5.31
TQQQ,
STO February 25, 95 put at 2.27
RIVN Put Rolldown
Bought to close RIVN Jan 07 2022 90.0 Diagonal Puts / Sold to Open RIVN Jan 14 2022 83.0 Puts at $0.05 Credit but a 7 point lower strike.
At least my RIVN Bear call spread will expire today
EWZ
#ShortPuts – Missed this one yesterday. Figuring this thing has to recover at some point. Gradually adding when I’m in the mood. LOL
Sold EWZ JAN 21 2022 31.0 Put @ 4.15
TQQQ,
BTC January 7, 115 put at .01, sold at 2.80
ROKU
#ShortPuts – Popping out of a squeeze to the downside. Not sure how far it’ll go but I’ll take a shot. Two weeks before earnings and outside the expected move. This would get the stock at about 70 percent off the highs.
Sold ROKU FEB 4 2022 145.0 Put @ 2.75
TQQQ
#ShortPuts – First one in this expiration.
Sold TQQQ FEB 25 2022 115.0 Put @ 5.35
KWEB SOXL TSLA
#ShortPuts #JadeLizards – A liitle bit of everything.
KWEB: Covered rolling.
Rolled KWEB JAN 7 2022 32.42 Call to JAN 21 2022 32.42 Call @ .25 credit
SOXL: Filling out the ladder more aggressively. Double dip on some of these. #TakeOneForTheTeam possibility?
Sold SOXL JAN 28 2022 60.0 Put @ 3.80
Sold SOXL FEB 11 2022 55.0 Put @ 3.50
Sold SOXL FEB 25 2022 55.0 Puts @ 4.75 and 5.25
TSLA: Taking a shot on a little more downside…week before earnings.
Sold TSLA JAN 21 2022 860/1050/1060 Jade Lizard @ 10.10
GPN stock
Sold my oldest and highest cost lot of GPN at $153.57.
Bought it back on October 12th at $149.75, and 3 more times after that.
Former #FallingKnife
Closing DIS
Taking this off a couple of months early. Bought to close March 18 115 puts @ .35. Sold for 2.04 on 12/3.
VXX Calls
Starting in on next week’s writes
Sold VXX Jan 14 2022 21.0 Diagonal Calls at $0.63 and at $0.74
#OnlySpreads
TSLA Call Rollup
Bought to close 1 TSLA Jan 07 2022 940.0 Diagonal Call at $103.31. Sold last week on a roll at $127.45.
Sold to Open 1 TSLA Jan 14 2022 950.0 Call at $103.33 for a tiny credit but bumped the short strike 10 points.
Still waiting to see how my TSLA 1015.0 short Straddle works out today.
HUM Stock
Started tiny a new position in Humana at yesterday’s panic low (and new 52-week low) of $358.28
SPX trades
#SPX5dte Sold to close $SPX Jan 10th 4770/4750 put spreads for 17.40. Condors bought Tuesday for 16.20. Saving call spreads for any possible run up we get into Monday.
LABU Put Rolldown
Bought to Close LABU Jan 07 2022 35.0 Puts / Sold to Open LABU Jan 14 2022 34.0 Puts at $0.05 Credit and lowered the strike a point.
TNA Put Rolldowns
Bought to close 1 TNA Jan 07 2022 84.0 Put / Sold to Open 1 TNA Jan 14 2022 81.0 Put at $0.02 Credit but lowered the strike 3 points
Bought to close 1 TNA Jan 07 2022 86.0 Put / Sold to Open 1 TNA Jan 14 2022 84.0 Put at $0.02 Credit but lowered the strike 2 points
TQQQ Call Rollup
Bought to close 1 TQQQ Jan 07 2022 140.0 Call at $9.00. Sold last week on a roll at $33.17.
Replaced it with 1 TQQQ Jan 14 2022 143.0 Call at $9.44 for a $0.44 Credit and a 3 point better short strike.
TQQQ,
BTC January 14, 130 put at 1.10, sold at 3.10,just want to take some risk off the table.
December Jobs Report
#Jobs — Below expectations again; both measures of UE down again; upward revisions of past months again.
Gain of +199,000 non-farm payroll jobs, vs. expected gain of 422K.
Unemployment at 3.9%, down by 0.3 (vs. 4.1 estimate)
U6 unemployment at 7.3%, down by 0.5
Labor force participation 61.9%, up by 0.1
Average hourly earnings up 0.6%
October jobs revised up by +102K to +648K
November jobs revised up by +39K to +249K
TQQQ 1/14
Sold to open $TQQQ Jan 14 140 put @ 2.85
XBI Feb
Sold to open $XBI Feb 18 95 puts @ 1.80. Strike at 20 delta and at a level the underlying as seen in over a year and a half. IV very high (IV rank 65).
ARKK
#CoveredCalls – Another round.
Bought to Close ARKK JAN 7 2022 98.22 Calls @ .02 (sold for 1.39)
Sold ARKK JAN 14 2022 89.22 Calls @ 1.35
AAPL short puts
Sold to open $AAPL Feb 18 155 puts @ 1.90. Delta 16. Strike is near support, about 10 points below the 50 day moving average. ER 1/27.
SPX trades
#SPX5dte Sold to close $SPX Jan 7th 4790/4810 call spreads for .50. Sold puts for 16.00 yesterday so .55 profit on the condor.
TSLA
#ShortPuts – Had a chance to close this a few days ago for 90 cents but didn’t manage the winner. Gonna sit it out now with beer money.
Bought to Close TSLA JAN 21 2022 800.0 Put @ 3.33 (sold for 3.54)
TSLA June
Not quite a #FallingKnife with the stock technically still in an uptrend but with my short Jan 600 put likely to expire in a couple of weeks I thought I would take advantage of this increase in volatility to sell another longer term position.
Sold to open $TSLA 6/17 600 put @ 21.00.
XBI
#ShortPuts – Adding.
Sold XBI FEB 18 2022 95.0 Put @ 2.45
SPY
#JadeLizards – Taking half a couple weeks early.
Bought to Close SPY JAN 21 2022 425/473/478 Jade Lizard @ 2.36 (sold for 5.40)
Bought to Close SPY JAN 21 2022 435/473/478 Jade Lizard @ 2.77 (sold for 5.20)
LABU Early Assignment
Bought 200 Shares of LABU at $45.00 when my Jan 07 puts were exercised overnight.
After the $8.50 put premium my adjusted cost will be 36.50.
I’ll start writing covered calls there and roll up on the next bounce.
VIX flys
VIX up over 17% today
SPX trades
#SPX1dte. It is absolutely crazy. As soon as I mention that the SPX1dte strategy is doing well, I get slapped across the face. Was away from my screen for the big drop, exited near the bottom, and now watching as we finally get a bounce. What a horrible stretch I am stuck in.
Bought to close $SPX Jan 5th 4740/4720 put spreads for 13.50. Condors sold yesterday for 1.30.
VXX Calls
Sold against my last two uncommitted long VXX calls
Sold 1 VXX Jan 07 2022 19.5 Call @ 0.58
Sold 1 VXX Jan 07 2022 20.0 Call @ 0.46.
My large offsetting position in short VXX 17.50 puts is looking pretty good right now.
#VXXContango
TSLA Put
Sold 1 TSLA Jan 07 2022 1015.0 Diagonal Put at 1.68.
I have a short call I’ve been rolling at the same strike, so no downside worries.
#OnlySpreads
Sourcing Investment Ideas
Based on the recent posting by Jeff about “sharing” I wanted to share a source I have been using for investment ideas. I am not affiliated in any way with the site other than a follower.
Site is CoveredCallAdvisor.com.
Author of the site does a great job of identifying covered call opportunities. In a typical month he will come up with five to ten trades. He posts on the same day he trades with detailed explanations on his reason and goal for the trade.
Although I don’t follow his trades exactly (I am a bit more optimistic on my strike prices) I feel he does an excellent job in finding the trades. I currently have five open positions following his trades (all covered calls). I typically roll my strikes and keep my positions open for longer periods of time. He is more of a single position strategy person and doesn’t roll very often. His success rate is amazingly high.
Check him out….it has been a good source for me.
Hope this can help someone make some money!
TWTR stock
Added a tiny new position in TWTR at $40.00.
Hate the company, not sure if the stock trade works out, but fits my #FallingKnife strategy.
Won’t buy again until $35
TQQQ
#ShortPuts – Already closed my regular position in this one so taking another shot.
Sold TQQQ JAN 14 2022 145.0 Put @ 2.65
RIVN Diagonal Put
Bought to open 1 RIVN Feb 04 2022 70.0 Put / Sold to Open 1 RIVN Jan 07 2022 90.0 Put at $0.52 Net Credit.
I’m already short a RIVN 107 Call I sold yesterday at $2.72, so ahead of the game so far.
#OnlySpreads
Markets
Getting serious out there as the DJIA finally joins the party to the downside.
The VIX is above yesterday’s peak.
LABU Put
Sold 1 LABU Jan 07 2022 32.0 Diagonal Put at $1.25. The yearly low for LABU is 31.90 (so far …)
#OnlySpreads
XBI
#ShortPuts – Adding.
Sold XBI FEB 18 2022 100.0 Put @ 2.15
SPX 5dte
#SPX5dte, Well, since the day I posted my recent success with the strategy, it has basically been a disaster. In the almost two years since I started this, there has never been such a string of expirations that end in or near the dead zone. I have been hesitant to stop because I’m quite sure that as soon as I do, it will become viable again. But I really don’t have any choice now. I still have trades on for Friday and Monday, but I have to stop placing new ones. I’ll take some time to assess the results and the strategy as a whole.
I will continue to trade with #SPX1dte, as that strategy is doing fine, despite some recent losses due to my mistakes.
I know some of you have followed me on this strategy, but don’t post your experience. I would ask that if you are doing this, to please comment with your experiences and trades. If you have learned from me or anyone on this site, and have had success by following, I think it is only fair that you return the favor and share your experience.
I say this because I got an email from someone saying they had followed me on SPX5dte and found some success with certain adjustments… adjustments that I had not thought of or used. I asked him to please post in the room and share, but he disappeared.
So please, if you learn and make money from following us, share your experiences!
TQQQ Put
Added to my position
Sold 1 TQQQ Jan 07 2022 150.0 Diagonal Put at $0.93.
I’m trying to force TQQQ down toward this strike so a bunch of my TQQQ short calls expire on Friday
Options Bistro 