Sold ADS Oct 09 2020 49 Covered Calls at $0.45.
#Earnings not until 10/22
Category Archives: Uncategorized
KSS
Sold KSS Oct 09 2020 21 Diagonal Calls at $0.16 for next week.
Waiting on 20 & 20.50 calls to expire today.
VXX Calls & Puts
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
SPY Rollups
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.
NVDA
#ShortPuts – Missed the bottom but still nice premium in these. Selling outside the expected move and below the 50ma and well before earnings…
Sold NVDA OCT 16 2020 480.0 Put @ 3.50
VXX Strangle
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.
SPX 7dte
#SPX7dteLong The trade is currently in the dead zone so trying to leg out for profit. Looking for a drift higher into the day, but no idea whether we’ll get it.
Sold to close $SPX Oct 2nd 3340/3320 put spreads for 6.50. Waiting to sell 3350/3370 call spreads.
Condors bought for 17.30 on Monday.
OSTK
#ShortPuts #CoveredCalls – Assigned stock at 85 and have reduced basis to 65.80 so letting it get called away at 70 if the market holds today. Replacing with these…
Sold OSTK OCT 9 2020 70.0 Puts @ 1.60
TSLA
#ShortPuts – Sold TSLA OCT 09 2020 375.0 Put @ 3.05
TQQQ Nov
Sold $TQQQ 11/16 85 puts @ 4.50
September Jobs Report
#Jobs — below expectations
Gain of +661,000 non-farm payroll jobs, vs. expected 800K gain
Unemployment at 7.9%, down by 0.5%, vs. expected 8.2%
U6 unemployment at 12.8%, down by 1.4%
Labor force participation 61.4%, down by 0.3
Average hourly earnings up 0.1%, less than .04 increase in August
August jobs revised up by +118K to +1.49M
July jobs revised up by +27K to +1.76M
NVTA Calls Rolled / T PENN MRVL Puts / NFLX BUPS Closed
#coveredcalls
$NVTA BTC 10/16 and STO 11/20 40 calls at added 2.60 credit
#shortputs
$T STO 10/9/2020 28.50 put at .70
$PENN STO 10/9/2020 72 put at 2.60
$MRVL BTC 10/2/2020 40 put at .35. STO at 1.95
#bups
$NFLX BTC 10/16 455/465 BUPS at 1.29. STO at 3.45. Thank you @ramie77. No, I don’t know why I closed it.
SPX 1-dte
#SPX1dte Sold to Open $SPX Oct 2nd 3255/3275-3450/3470 iron condors for 1.40, IV 23.8%, SPX 3373, deltas -.06,+.06.
Pretty wide condor given higher volatility and premium with Jobs report in the morning.
TSLA
#ShortPuts – Got half my roll up credit from this morning. Delivery numbers tomorrow so hoping for a sell the news to re-enter…
Bought to Close TSLA OCT 02 2020 410.0 Put @ .55 (sold for 3.15)
NFLX
#ShortPuts – Big rally so putting this one in the books and leaving the repair trade from previous post running…
Bought to Close NFLX OCT 16 2020 460.0 Put @ 2.21 (sold for 8.05)
NFLX
#ShortPuts #ShortCalls #RepairTrade – Can’t believe I’m having to do the same repair trade I did a couple weeks ago. What seemed like a safe call on a short strangle is getting hit again. Swapping it for a 2×1 short strangle for next week.
Bought to Close NFLX OCT 2 2020 520.0 Call @ 7.15 (sold for 1.45)
Sold NFLX OCT 9 2020 492.5 Put / 570.0 Call (2×1) @ 8.80
The 2×1 now has 3.10 of profit in it after the short call loss. New short put strike at the expected move and under the 50ma. Short call is almost 2x the expected move.
Still holding Oct 16th 460 strike short put @ 8.05
Earnings is Oct 20th which is after all this so plenty of IV out there for future adjustments…
OSTK
#ShortPuts – Bought to Close OSTK OCT 2 2020 67.5 Put @ .05 (sold for 2.20)
SPX 7-dte
#SPX7dtelong Bought to open $SPX Oct 7th 3355/3375-3385/3405 iron condors for 17.55, with SPX at 3380.
KSS Calls
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.
WBA Put
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
VXX Calls
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.
SNOW
#ShortPuts – First time in this one. Going short term at near the all time low. Selling the expected move since the stock is already down 8 today.
Sold SNOW OCT 09 2020 220.0 Put @ 2.25
VXX Puts
Bought to close VXX 10/02/2020 23.50 Puts @ 0.01.
They won’t trade any lower.
TDOC
#ShortPuts – Looking at week prior to earnings for any new sales now. Selling outside the expected move and below 20,50, and 100 day moving averages and week prior to earnings.
Sold TDOC OCT 23 2020 187.5 Put @ 2.50
TSLA
#ShortPuts -Rolling up slightly for additional credit.
Rolled TSLA OCT 02 2020 385.0 Put to OCT 02 2020 410.0 Put @ 1.10 credit (3.15 total now)
XOM
Dividend yield now 10.5 %.
I’m guessing a cut is in the future.
The question is, how far might it drop?
PTON
Rolled $PTON Oct-09-2020 100 #CoveredCalls // Oct-16-2020 103 @0.10 debit
(edited to fix the weeks)
SPXpire
#SPX1dte Expiring: $SPX Sept 30th 3235/3255-3415/3435 iron condors, sold yesterday for 1.20.
#shortputs C Sold Oct. 16,…
Sold Oct. 16, 41.50 put for .93
#rolling #diagonal SPY Rollups This…
VXX Diagonal Call spreads
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.
DOCU Put Closed
#shortputs
$DOCU BTC 10/9 180 put at .20. STO at 2.67 Thank you @fuzzballl
NVAX Put
#shortputs
$NVAX STO 10/2 105 put at 1.50
LABU NFLX
#ShortPuts – Taking some more off the table…
Bought to Close LABU OCT 02 2020 45.0 Put @ .20 (sold for 1.32)
Bought to Close NFLX OCT 02 2020 450.0 Put @ .20 (sold for 3.60)
OSTK
#ShortPuts – Adding one…
Sold OSTK OCT 9 2020 64.0 Put @ 1.35
SPY Rollups
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.
NVDA adjustment
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.
Closing NFLX
Bought to close $NFLX 10/16 465/455 bull put spread @ 1.58. Sold for 3.45 on 9/21.
VXX
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.
SPX 7-dte
#SPX7dteLong In pre-market, sold to close $SPX Sept 30th 3250/3270 call spreads for 19.55. Condors bought for 17.90 last Wednesday.
VXX
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
SPX trades
#SPX7dteLong Bought to Open $SPX Oct 5th 3315/3335-3345/3365 condors for 17.50, with SPX at 3339.
#SPX1dte Sold to Open $SPX Sep 30th 3235/3255-3415/3435 condors for 1.20, IV 20.07%, SPX 3341, deltas -.05,+.06
Another NVDA condor
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.
OSTK
#ShortPuts – Starter position in a different account…
Sold OSTK OCT 9 2020 65.0 Put @ 1.60
TSLA
#ShortPuts – Jumping back in…
Sold TSLA OCT 02 2020 385.0 Put @ 2.05
NVTA Puts
#shortputs
$NVTA STO 10/16 40 puts at 1.30
VIX
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
Quote of the day
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.
TDOC
#ShortPuts – Nice run the last few days so I’ll take it 10 days early…
Bought to Close TDOC OCT 09 2020 180.0 Put @ .35 (sold for 2.75)
TSLA
ShortPuts – Taking the quick profit…
Bought to Close TSLA OCT 02 2020 390.0 Put @ 2.50 (sold for 4.75)
ADBE adjust
$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.
WFC Put spread
Put buyers are really concerned about Well Fargo’s October 14th #Earnings report
Bought to Open WFC Dec 18 2020 17.5 Puts / Sold to open WFC Oct 16 2020 21.5 Puts @ 0.04 Net Credit.
The short strike is a half point below the 52Week low.
And I have another spread-based short put at 22.0 that probably expires the week before.
That will give me an extra set of protective long puts.
#closing CHWY DKNG #jadelizard #shortputs…
#closing CHWY DKNG #jadelizard #shortputs
CHWY Sept. 10, sold a jade lizard with a long put, making it an iron condor. CHWY went down quite a bit, selling the long put and a couple rolls, closed the position today for a gain
DKNG Sept. 21, sold an Oct. 9, 41 put for .80, bought today for .08
SPY
#ShortPuts – Hitting resistance so taking it early…
Bought to Close SPY OCT 16 2020 295.0 Put @ .51 (sold for 2.30)
TSLA
#ShortPuts – Pretty aggressive but a couple rolls available leading into earnings…
Sold TSLA OCT 02 2020 390.0 Put @ 4.75
DOCU
#ShortPuts – Booking it on the early bounce…
Bought to Close DOCU OCT 09 2020 180.0 Put @ .30 (sold for 2.90)
MU earnings analysis
#Earnings $MU reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
June 29, 2020 AC +4.82%
March 25, 2020 AC +5.38%
Dec. 18, 2019 AC +2.80%
Sept. 26, 2019 AC -11.09% Biggest DOWN
June 25, 2019 AC +13.34% Biggest UP
March 20, 2019 AC +9.61%
Dec. 18, 2018 AC -7.91%
Sept. 20, 2018 AC -2.86%
June 20, 2018 AC +0.83%
March 22, 2018 AC -7.99%
Dec. 19, 2017 AC +4.02%
Sept. 26, 2017 AC +8.51%
Avg (+ or -) 6.60%
Bias 1.62%%, positive bias on earnings.
With stock at 51.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 47.23 to 54.77 (+/- 7.4%)
Based on AVERAGE one-day move over last 12 quarters: 47.64 to 54.36
Based on MAXIMUM one-day move over last 12 Q’s (13.3%): 44.20 to 57.80
Based on DOWN max only (-11.1%): 45.34
Open to requests for other symbols.
WDC
Sold to open WDC Oct 02 2020 41 Calls at $0.31
SLB Covered Calls
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
Some thoughts and examples on “working” covered calls over an extended period of time versus “trading”
DKNG Puts Closed / GOOGL DKNG WYNN BUPS Closed
#shortputs
$DKNG BTC 10/16 40 puts at .20. STO for 3.96
#bups
$GOOGL BTC 10/2 1250/1300 BUPS at .30. STO at 1.95. Thank you @jsd501
$DKNG BTC 10/16 30/35 BUPS at .10. STO at 1.70.
$WYNN BTC 10/16 70/80 BUPS at 6.00. STO at 2.83.
SPXpire
Expiring:
#SPX1dte Sept 28th 3190/3210-3365/3385 condors, sold Friday for 1.40
#SPX7dteLong Sept 28th 3305/3325 call spreads for max credit of 20.00. Condors bought last Tuesday for 17.70.
TQQQ
#ShortPuts – Risk reduction on the bounce. Looking for a new pullback to re-load.
Bought to Close TQQQ OCT 02 2020 100.0 Put @ .20 (sold for 2.30)
NVDA
#ShortPuts – I’ll take it a few days early…
Bought to Close NVDA OCT 02 2020 450.0 Put @ .15 (sold for 4.33)
NFLX
#ShortStrangles – Stock caught an upgrade with a 570 target. Rolling the put sold earlier up for additional credit and adding a weekly short call.
Rolled NFLX OCT 16 2020 425.0 Put to OCT 16 2020 460.0 Put @ 4.91 credit (8.09 total now)
Sold NFLX OCT 2 2020 520.0 Call @ 1.45
EDIT: More aggressive put roll up to allow slightly more aggressive call selling for a couple weeks leading up to earnings.
TAN, Making a new high…
TAN, Making a new high so STO October 16, 57 puts at 1.10
SPY Roll
Bought to Close SPY Sep 28 2020 330 Calls / Sold to Open SPY Sep 30 2020 331 Calls @ 0.20 Net Credit
EWZ
#LongCalls #LEAPS – Haven’t done one of these in awhile. Buying the LEAP calls and selling short term against them. I’ll hopefully be more disciplined with my call sales than in my past. Goal is to eventually cover the cost of the LEAPS selling half as many short term. EWZ near multi year lows (other than covid crash).
Bought to Open 10 EWZ JAN 20 2023 27.0 Calls @ 5.70
Sold 5 EWZ OCT 2 2020 29.0 Calls @ .12
Nearly every one of these I’ve ever tried would have been successful had I not got greedy with weekly sales. 🙂 🙂
ROKU BWB
Since many months sitting on a ROKU Jan 2022, $140 / $190 Bull Call Spread (cost $13). Looking for ways to sell premium against that spread, this BWB does the trick with the $175 / $185 leg of the BWB 100% ITM, happy to keep rolling the short call spread side $185 / $200 as often as it takes.
$ROKU BTO Oct 16, 175 / 185 / 200 Broken Wing Call Butterfly for $0.07 debit.
Breakeven on the upside at $185. $0.07 of downside exposure.
SPX 7-dte
#SPX7dteLong Bought to open $SPX Oct 2nd 3320/3340-3350/3370 iron condors for 17.30, with SPX at 3345.
SPY Rolls
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.
NFLX
#ShortPuts – Selling down at the 200ma and 1.5 times the expected move and the week before earnings.
Sold NFLX OCT 16 2020 425.0 Put @ 3.18
#rolling #diagonal SPY Rolled Sept….
BA BWB
$BA BTO Oct 16, 160 / 165 / 175 Broken Wing Call Butterfly for $1.11 credit.
Breakeven on the upside at $171. No downside risk (keep credit).
#shortputspread ALB Sold Oct.16, 75/80…
#shortputspread ALB
Sold Oct.16, 75/80 for .95
Options Bistro 