#Jobs — Way way below expectations; much lower than March’s blowout
Gain of +266,000 non-farm payroll jobs, vs. expected gain of 1M
Unemployment at 6.1%, up by 0.1
U6 unemployment at 10.4%, down by 0.3
Labor force participation 61.7%, up by 0.2
March revised down by -146K to +770K
Feb jobs revised up by +68K to +536K
#SPX1dte Sold to Open $SPX May 7th 4110/4130-4225/4245 iron condors for 1.20, SPX at 4188, IV 11.7%, deltas -.07, +.08
#SPX7dteLong Earlier: Bought to Open $SPX May 12th 4145/4165-4175/4195 iron condors for 16.45, with SPX at 4170.
TQQQ, STO June 18, 65 put at 1.31
STO June 18, 115 calls at 2.55
MSFT, STO May 21, 252.5 covered calls at 2.55, My 257.5 calls will expire tomorrow or I will cover them at .02 cents
BTC May 7, 75 puts at .02, sold at 1.15, just freeing up margin because this market feels really bad.
Sold 1 LABU May 07 2021 63.0 Diagonal Put at $1.30
#OnlySpreads
The VIX/VXX rally seems to be over ( it never seems to last more than 1 day).
Rolled down my May 7th 16.0(adj) and 15.50(adj) short calls to 05/07/2021 10.50(adj) short calls for an additional $0.15 Credit.
Also sold some 05/072021 37.50 short puts @ 0.21 and 0.25 to go with my currently short 05/07/2012 41.0 short calls turning hem into short 37.50/41.00 strangles.
Used the cash to buy some additional July 25.00 Puts @ $0.19
#VXContango
#JadeLizards – In an IRA so I have to spread these. For more downside protection selling the call side right on top of the short put to set up the Jade Lizard. Still no upside risk.
Sold ROKU MAY 7 2021 320.0/327.5 Bear Call Spread @ 2.65
Position for earnings is now 320/320/327.5 Jade Lizard @ 8.35
Is this a Jade Straddle? 🙂 🙂
#ShortPuts #ShortCalls – Selling against a May 21st 550.0 strike short put.
Sold TSLA MAY 14 2021 760.0 Call @ 2.38
#ShortStrangles – Turning the short put into a short strangle. Should be an easy adjustment if needed with earnings the following week.
Sold SNOW MAY 21 2021 240.0 Call @ 2.60
Now a 217.5/240.0 Strangle @ 6.00
#CoveredCalls – Rolling down for additional premium. Still selling slightly under my basis with the market looking weak. Earnings after the close tomorrow.
Rolled ROKU MAY 7 2021 350.0 Call to MAY 7 2021 325.0 Call @ 6.25 credit (27.50 total now)
#CoveredCalls – Stop set on this week’s sales. Adding more a couple weeks out.
Sold PINS MAY 21 2021 65.0 Calls @ 1.52
#tqqq
STO TQQQ 11 JUN 70 PUT @1.70 NYSE
#ShortPuts – Adding…
Sold LABU MAY 21 2021 60.0 Put @ 3.00
STO May 28, 75 put at 1.22
STO June 4, 70 put at 1.07
STO, June 18, 65 put at 1.29
#ShortPuts – I’ll be out most of the week. Did have a couple standing orders fill. Aggressively adding to a ladder.
Sold SOXL MAY 21 2021 35.0 Put @ 4.00
Sold SOXL MAY 21 2021 36.0 Put @ 4.00
STO June 11, 70 put at 1.59
Sold 1 SQQQ 05/21/2021 14.0 Covered Call @ 0.26
#SmallIRA
STO TQQQ 7 MAY 94.5 PUT @1.20 NYSE
STO May 28, 115 call at 1.50
Sold 1 LABU May 07 2021 67.0 Diagonal Put @ $1.60.
#OnlySpreads
Sold these covered calls:
VXX May 21 2021 46.0 Call at $1.76 & $2.06
VXX May 28 2021 46.0 Call at $2.29
VXX Jun 04 2021 46.0 Call at $2.74
VXX Jun 11 2021 46.0 Call at $3.40
Replaces the old pre-split calls that expired Friday
#VXXContango trade – a really long one
Bought to Open 1 VXX Jan 20 2023 5.0 Put at $0.15.
627 DTE (Days to Expiration)
Bought to Open 2 VXX Jun 16 2023 5.0 Puts at $0.27.
774 DTE (Days to Expiration)
VXX at 38.70.
These are “after the split” strikes
Last week I bought some MSFT shares at 255.30 and sold the May 7, 257.5 calls at 1.60
Sold TLRY May 07 2021 16.5 Diagonal Puts at $0.29.
This creates a 16.50/25.0 short strangle for this week.
Total Premium $0.42 each strangle
Sold SLB 05/07/2021 29.50 Covered Calls @ $0.13.
Sold SLB 05/21/2021 30.0 Diagonal Calls @ $0.32
#coveredcalls
$AG STO 5/7 16 call at .40
$MGM STO 5/7 42 call at .35
$TQQQ STO 5/7 110 call at 1.75
#SPX7dteLong Sold to close $SPX May 3rd 4185/4165 put spreads for 1.65. Looking for bullish close to profit on call side. Condors bought for 15.65 last Tuesday.
Friday at close to close
Btc TQQQ 30 APR 106.5 PUT @.09/sto@ $1.44
Btc TQQQ 30 APR 105 PUT @.06 sto@$1.05
#optionsexpiration
$MGM 44 call
AG 17.5 call
TQQQ 113 call
$BLNK 39.5 call
$MRVL 48 call
$WYNN 130 call
$NVDA 620 call
$SPX 1 DTE
#assignment
$REGN 500 put
$MARA 52.50 put
$PENN 108 put
LABU 04/30/2021 87.5 Diagonal Call
LABU 04/30/2021 85.0 Diagonal Call
TLRY 04/30/2021 19.0 Diagonal Calls
TQQQ 04/30/2021 115.0 Diagonal Call
VXX 04/30/2021 10.5 Covered Calls
VXX 04/30/2021 11.0 Covered Calls
VXX 04/30/2021 11.5 Covered Calls
VXX 04/30/2021 12.0 Covered Calls
VXX 04/30/2021 13.5 Covered Calls
VXX 04/30/2021 14.5 Covered Calls
WFC 04/30/2021 46.0 Diagonal Calls
Everything else rolled out
STO May 21, 110 call at 4.25
It looks like I will be assigned the 110 puts based on the price today. My cost will be 106.50 so I may sell the 110 call for May 14 before the close.
STO November 19, 20 puts at 2.00, I think it would be a good purchase at that level.
STO June 4, 80 put at 1.40
#CoveredCalls – These will be covered after today. In an IRA so have to spread the call sales for now. Going for max downside protection selling slightly below basis.
Sold SPOT MAY 7 2021 252.5/310.0 Bear Call Spread @ 8.35
Sold TWTR MAY 7 2021 55.0/70 Bear Call Spreads @ 2.21
#shortputs
$OSTK BTC 5/7 60 put at .20. STO at 1.90. Thank you @fuzzballl
$O STO 5/21 67.50 put at 1.00
#CoveredCalls – These will be covered after today. Selling right at breakeven.
Sold PINS MAY 7 2021 67.0 Calls @ 1.90
STO, May 14, 95 put at 1.45 for a small trade. We have been trading between 105 and 112 for the last 15 trading days and the volume on the down days is greater than the up days so I am being cautious.
#IronCondors #Earnings #OneNightStand – I’ll take it.
Bought to Close AMZN APR 30 2021 3340/3350/3630/3640 @ .40 (sold for 4.10)
#ShortPuts – This has been borderline the whole time. Taking it on the bounce and waiting for earnings next week.
Bought to Close REGN APR 30 2021 490.0 Put @ 2.34 (sold for 4.50)
#SPX7dteLong Sold to close $SPX Apr 30th 4185/4165 put spreads for 3.65. Leaving call spreads for tomorrow. Condors bought for 15.45 on Monday.
Bought to Open $SPX May 5th 4170/4190-4200/4220 condors for 15.65, with SPX at 4194.
#SPX1dte I was unable to place a trade for Friday as I was traveling.
Sold to open $IWM Jun 18 203/210/242/249 iron condor @ 2.10. Small bearish bias. Taking in 30% of the strike width.
#spx1dte
$SPX STO 4/30 4135/4155 – 4250/4270 at .90. SPX at 4212
#coveredcalls
$NVDA STO 4/30 620 call at 1.50. Sold against long calls
$RIOT STO 5/7 45 call at 1.40.
Looks like the post-earnings selling might be slowing down. Sold to open $PINS Jun 18 60/55 bull put spread @ 1.05.
#ShortPuts #CoveredCalls – Setting up early for earnings next week. One covered and one new position.
Sold ROKU MAY 7 2021 350.0 Call @ 21.25 (slightly below basis but prefer downside protection)
Sold ROKU MAY 7 2021 320.0 Put @ 5.70 (replacing one closed this morning)
Taking another shot at this one to get some calls to expire
Sold WFC Apr 30 2021 46.0 Calls at $0.34.
I have long calls out in June as a disaster hedge.
Sold SLB May 21 2021 29.5 Calls at $0.47. Sold these against long stock plus long June Calls
#ShortPuts – Just to be completely out of this one. Looking for new ladder opportunities out beyond May monthlies.
Bought to Close OSTK MAY 14 2021 55.0 Put @ .45 (sold for 1.25)
Finally new 100 share weeklys available
Sold 1 VXX May 07 2021 41.0 Covered Call at $1.10
Sold 1 VXX May 14 2021 46.0 Covered Call at $1.10
Sold 1 VXX May 28 2021 50.0 Covered Call at $1.70 (highest available strike).
Plus a kicker VXX Diagonal Bear Call spreads:
Bought to Open 1 VXX Jun 18 2021 64.0 Call / Sold to Open 1 VXX May 21 2021 44 Call at $0.14 Credit.
Bought to Open 1 VXX Jun 18 2021 64.0 Call / Sold to Open 1 VXX May 21 2021 45 Call at $0.08 Credit.
#coveredcalls
$TQQQ STO 4/30 113 call at .70
#ShortPuts #Earnings – Just a small one. Sold all at once.
Sold TWTR APR 30 2021 62.0/61.0/60.0 Puts @ 3.55
#IronCondors #Earnings – Taking a shot at it just inside the expected move by about 5 points.
Sold AMZN APR 30 2021 3340/3350/3630/3640 @ 4.10
Post-earnings after the morning pop, sold to open $FB May 21 300/310/340/350 iron condor @ 3.30
#ShortPuts – Adding…
Sold LABU MAY 21 2021 68.5 Put @ 2.05
Sold LABU MAY 21 2021 69.0 Put @ 2.15
STO December 40 puts at 4.10
#ShortPuts – Taking it on the bounce.
Bought to Close ROKU APR 30 2021 345.0 Put @ .35 (sold for 3.75)
#ShortPuts – Still holding 55 strike out a couple weeks.
Bought to Close OSTK APR 30 2021 62.5 Puts @ .05 (sold for 1.82)
Bought to Close OSTK MAY 7 2021 57.5 Put @ .10 (sold for 1.26)
Bought to Close OSTK MAY 7 2021 60.0 Put @ .15 (sold for 1.85)
#SPX1dte Expired worthless: $SPX Apr 28th 4115/4135-4230/4250 iron condor, sold yesterday for 1.15.
#SPX7dteLong Expiring with max credit of 20.00: Apr 28th 4140/4160 call spreads, sold last Thursday for 16.95.
#Earnings $AMZN reports TOMORROW (Thursday) after the bell. Below are details on earnings one-day moves over the last 12 quarters.
Feb. 2, 2021 AC -1.99%
Oct. 29, 2020 AC -5.44%
July 30, 2020 AC +3.69%
April 30, 2020 AC -7.59%
Jan. 30, 2020 AC +7.37% Biggest UP
Oct. 24, 2019 AC -1.09%
July 25, 2019 AC -1.55%
April 25, 2019 AC +2.54%
Jan. 31, 2019 AC -5.38%
Oct. 25, 2018 AC -7.81% Biggest DOWN
July 26, 2018 AC +0.51%
April 26, 2018 AC +3.60%
Avg (+ or -) 4.05%
Bias -1.10%, negative bias on earnings.
With stock at 3475.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 3326.44 to 3623.56
Based on AVERAGE one-day move over last 12 quarters: 3334.38 to 3615.62
Based on MAXIMUM one-day move over last 12 Q’s (7.8%): 3203.60 to 3746.40
Based on UP max only (+7.4%): 3731.11
Open to requests for other symbols.
Writing against some deep in the money short puts as if I already owned the stock:
Sold TLRY Apr 30 2021 19.5 Calls at $0.31
Sold TLRY May 14 2021 24.0 Calls at $0.41
#Earnings $FB reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
Jan. 27, 2021 AC -2.62%
Oct. 29, 2020 AC -6.30%
July 30, 2020 AC +8.17%
April 29, 2020 AC +5.41%
Jan. 29, 2020 AC -6.13%
Oct. 30, 2019 AC +1.80%
July 24, 2019 AC -1.93%
April 24, 2019 AC +5.84%
Jan. 30, 2019 AC +10.81% Biggest UP
Oct. 30, 2018 AC +3.80%
July 25, 2018 AC -18.96% Biggest DOWN
April 25, 2018 AC +9.06%
Avg (+ or -) 6.74%
Bias 0.75%, slight positive bias on earnings.
With stock at 306.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 291.03 to 322.97
Based on AVERAGE one-day move over last 12 quarters: 285.39 to 326.61
Based on MAXIMUM one-day move over last 12 Q’s (19.0%): 247.98 to 364.02
Based on UP max only (+10.8%): 339.08
Open to requests for other symbols.
#Earnings $AAPL reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
Jan. 27, 2021 AC -3.49%
Oct. 29, 2020 AC -5.60%
July 30, 2020 AC +10.46% Biggest UP
April 30, 2020 AC -1.60%
Jan. 28, 2020 AC +2.09%
Oct. 30, 2019 AC +2.26%
July 30, 2019 AC +2.04%
April 30, 2019 AC +4.90%
Jan. 29, 2019 AC +6.83%
Nov. 1, 2018 AC -6.63% Biggest DOWN
July 31, 2018 AC +5.89%
May 1, 2018 AC +4.41%
Avg (+ or -) 4.68%
Bias 1.80%, positive bias on earnings.
With stock at 133.50 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 128.55 to 138.45
Based on AVERAGE one-day move over last 12 quarters: 127.25 to 139.75
Based on MAXIMUM one-day move over last 12 Q’s (10.5%): 119.54 to 147.46
Based on DOWN max only (-6.6%): 124.65
Open to requests for other symbols.
STO TQQQ 30 APR 2021 106.5 PUT @1.44
#shortputs
$TQQQ BTC 4/30 105 put at .85. STO at 3.25 on 4/19. Thank you @jsd501
Sold LABU Apr 30 2021 78.0 Put at $1.25.
Sold LABU Apr 30 2021 75.0 Put at $0.95.
This turns two short calls for this week into short strangles.
BTC June 18, 22.5 puts at .05, sold at 2.53, these were the old 45 puts before the split.
#shortputs
t 5.27$LABU BTC 4/30 69 put at .20. STO a7 5.27.
#coveredcalls
$WYNN STO 4/30 130 call at .90
#ShortPuts – This could go anywhere but I’m giving it a shot. Selling just inside the expected move but below the 50 and 200 day.
Sold SPOT APR 30 2021 275.0 Put @ 3.10
#SPX7dteLong Bought to Open $SPX May 3rd 4165/4185-4195/4215 iron condors for 15.65, with SPX at 4190.
1-dte trade to follow in comments
#ShortPuts – Sold PINS APR 30 2021 70.0 Puts @ 1.35
Why didn’t they do this sooner?
April 26, 2021 11:19 PM ET (BZ Newswire) — News
GameStop Corporation (NYSE:GME) shares soared 22% higher in the regular and after-hours sessions combined on Monday.
What Happened: The video game retailer said Monday that it had completed its previously announced “at-the-market” equity offering in a statement.
GameStop completed the sale of 3.5 million shares of common stock and generated gross proceeds before commissions and expenses of nearly $551 million.
“Net proceeds will be used to continue accelerating GameStop’s transformation as well as for general corporate purposes and further strengthening the Company’s balance sheet,” as per the statement.
Also in April, GameStop issued an irrevocable notice of redemption to redeem $216.4 million in principal amount of its 10% Senior Notes due 2023 on April 30.
GameStop said the early redemption will cover the entire amount of its outstanding 10% Senior Notes, which makes up all its long-term debt.
Options Bistro 