#SPX7dteLong Expiring ITM: long $SPX Aug 24th 3395/3415 call spreads for max credit of 20.00. Bought for 15.05 last Tuesday.
#SPX1dte Expiring worthless: short Aug 24th 3320/3340-3440/3460 condors, sold Friday for .90.
Category Archives: Uncategorized
LAST TRADE:
OSTK STO 8/28/20 120.0 CALL @6.00
#coveredcalls #jadelizard MRO WBA AMD…
#coveredcalls #jadelizard MRO WBA AMD
MRO sold Sept. 18, 6 call for .17
WBA sold Sept. 4, 41.50 call for .28
AMD sold Sept. 18, 73/90/91 for 1.11 #tastytradefollow modification
Credit generation campaign
Short term straddle/strangle trades for cost reduction purposes on the corresponding long dated long strangles:
0.5 x EWZ Aug 28: $30 short straddle @ $1.20
0.5 x EWZ Aug 28: $29.5 / 30.5 short strangle @ $0.77 (is the $0.43 cushion versus the straddle sale any comfort?).
XLF Sep 04 $24.5 short straddle @ $0.90 – giving myself more time to adjust.
XLU Sep 04 $60 short straddle @ $1.53
Market makers playing hard to fill for the MDLZ strangle so I am closing that out and replacing with an IBB LEAP strangle.
SPX Risk Reversal
- a la RandomWalk (but not sure whether the name fits this type of trade!)
Combine a close to the money Broken Wing Put Butterfly (debit trade) with an OTM unbalanced 1 x 3 x 2 Call Butterfly (credit trade) adjusting the strikes of the two trades to place it for as close to zero cost as possible.
Sept 21 weeklies: 3420 / 3400 / 3385 Put Butterfly @ $2.55 debit
Sept 21 weeklies: 3500 / 3510 / 3520 unbalanced Call Butterfly (1 x 3 x 2) @ $2.39 credit
Only risk to the downside is the debit paid ($0.16). Upside breakeven is around 3514. Two profit peaks (bigger one @ $3400, smaller one close to $3500.
But it makes more sense looking at the risk profile:
TQQQ
BTC August 28, 60 puts at .01, sold at 1.20 and that is it for this week.
SPX 7-dte (5-dte, actually)
#SPX7dte Bought to open $SPX Aug 28th 3395/3415-3425/3445 condors for 15.25, with SPX at 3421.
PANW earnings analysis
#Earnings $PANW reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
May 21, 2020 AC +3.67%
Feb. 24, 2020 AC -17.01% Biggest DOWN
Nov. 25, 2019 AC -11.95%
Sept. 4, 2019 AC +5.76%
May 29, 2019 AC -5.11%
Feb. 26, 2019 AC +8.20%
Nov. 29, 2018 AC -1.76%
Sept. 6, 2018 AC +3.28%
June 4, 2018 BO -0.52%
Feb. 26, 2018 AC +2.31%
Nov. 20, 2017 AC +4.82%
Aug. 31, 2017 AC +10.53% Biggest UP
Avg (+ or -) 6.24%
Bias 0.19%, no significant bias on earnings.
With stock at 191.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 246.70 to 285.30 (+/- 7.3%)
Based on AVERAGE one-day move over last 12 quarters: 249.61 to 282.61
Based on MAXIMUM one-day move over last 12 Q’s (17.0%): 220.75 to 311.25
Based on UP max only (+10.5%): 294.01
Open to requests for other symbols.
TQQQ
In my IRA, BTC August 28, 60 puts at .01, sold at 1.15
TSLA Sep
Been hesitant to do this since getting in front of speeding trains is not my idea of fun. At least not anymore.
Sold $TSLA 9/18 2300/2350 bear call spread @ 10.00.
#earningsPANW Anyone looking at this?…
Anyone looking at this? Reports tonight.
AAPL TSLA split euphoria
AAPL new high at 515.98
TSLA new high at 2140
TRADES:
VIAC STC STOCK @27.40
OSTK STO 9/4/20 120.0 CALL @10.60
AAL ADS WBA WDC WFC Calls
Sold AAL 08/28/2020 14.0 Covered Call @ 0.09
Sold AAL 08/28/2020 14.50 Diagonal Calls @ 0.06
Sold ADC 08/28/2020 50.0 Covered Call @ 0.10
Sold WBA 08/28/2020 42.0 Covered Calls @ 0.07
Sold WDC 08/28/2020 37.0 Covered Calls @ 0.06
Sold WFC 08/28/2020 25.0 Covered Call @ 0.09
Pays for this week’s beer run 🙂
Also:
Bought ADS 10/16/2020 70.0 Calls / Sold ADS 09/04/2020 50.0 Calls @ 0.25 Credit
VXX New Diagonal and other puts sales
Bought VXX Jan 21 2022 6.0 Puts / Sold VXX Aug 28 2020 24.0 Puts @ 0.12 Credit.
Also sold these against similar long positions left over from earlier diagonals:
Sold VXX Aug 28 2020 23.50 Puts @ 0.53
Sold VXX Aug 28 2020 23.0 Puts @ 0.30
#DoubleDip
SPY bearish Diagonal
Sold 1 SPY Sep 18 2020 335.0 Call / Bought 1 SPY Oct 16 2020 345.0 Call @ 3.61 Credit.
If there is no market pullback in the next month I can do a weekly roll after that.
SPY was down near 335 several times in the last 10 trading days
LABU
#ShortPuts – Adding one…
Sold LABU SEP 18 2020 40.0 Put @ 1.50
SPY
STO October 2, 290/310 bull put spread at 1.15, I have my order in to cover this at .55 cents.
TDOC
#ShortPuts – Adding one…
Sold TDOC SEP 18 2020 180.0 Put @ 2.60
AAPL
STO October 2, 320/360-620/660 iron condor at 2.10
Covered Calls 8/21 and Actions
All the positions below are part of covered call strategies across three accounts. Assigned on a couple I wasn’t planning on. Just couldn’t get all the trades done. Internet at the cottage in Canada is functional….but not ideal.
XLK
XLK @ $118.18
BTC $XLK Aug 21: $110 short straddle @$7.65 (originally sold @ $6.70)
Scaled into additional LEAP strangles earlier in the month, so layered on additional short terms straddle sales
BTC $XLK Aug 21: $115 straddle @$2.65 (originally sold for $4.41).
This turned the Aug 21 set of straddle sales into a profit.
STO $XLK Aug 28: $117.5 straddle @$2.94
Cover is the Jan 22: $90 call / $125 put long strangle @ $50
MDLZ
MDLZ @ $57.47
BTC MDLZ Aug 21 $56.0 short straddle @ $1.70 (originally sold for $1.03)
Assess on Monday, but planning to move to strangle rather than straddles sales and 14 DTE.
Cover is the Jan 2022 long $40 put / $65 call strangle.
XLF vs. FAS
XLF @ $24.36
BTC XLF Aug 21 $25 short straddle @ $0.68 (originally sold for $1.02)
Cover is the Jan 2022 15 PUT / 30 CALL long strangle @ $ 1.56
New set of straddles for XLF to be sold on Monday.
FAS @ $36.38
BTC FAS Aug 21 $40 short straddle @ $3.70 (originally sold for $3.34)
STO FAS Sep 04 $36 short straddle @ $3.29
Cover is the FAS Jan 2022 20 PUT / 70 CALL long strangle @ $ 10.28
It’s early days but I’m expecting FAS volatility to be too high for this strategy. I’ve already moved to selling 14DTE for FAS, the next modification will be selling strangles rather than straddles.
Update on ABT CC, Profit $8,497 in 87 Days, 31.1% Return or 130% Annualized
Our Covered Call strategy on ABT was established with the purchase of 300 shares on May 26. Since that time we have added to the position with 300 shares on 6/25 and 400 on 8/21. Covered Call strategy on Abbott has performed well aided by an upward move in the stock. We have rolled the options 13 times and had two expirations. Abbott is attractive for CC Writing as it trades weekly options, potential for growth on the stock price and pays a dividend.
EWZ
BTC EWZ Aug 21 $31.5 straddle @ $1.96 (sold for $1.48)
With last Monday’s sharp decline on EWZ I used the opportunity to add to my long LEAP strangles and then made a corresponding weekly straddle sale at the lower ATM strike ($30) – this turned the combined set of weekly sales into a profit:
BTC EWZ Aug 21 $30 straddle for $0.49 @ (sold for $1.29)
Cover is EWZ Jan 2022 long strangle $27 call / $37 put.
Gut feeling told me to hold off from selling the new set of weekly straddles until I see how the market unfolds on Monday.
Options Expiration / Late Roll
OX $SONO Aug-21-2020 $20 #CoveredCall – Buy/Write on 6/23 @13.05. So far still in positive territory, if just barely.
Rolled $SPXL Aug-21-2020 $55 #CoveredCall // Sep-18-2020 $58 @1.25 Credit. Almost let this get assigned, but figured I’d ride it for another month.
TSLA
Bought to close 1 TSLA 08/21/2020 2300 Call @ 0.01
Sold this yesterday as part of a spread @ 1.96
VXX roll
Bought to close VXX 08/21/2020 25.0 Puts / Sold VXX 08/28/2020 24.0 Puts @ 0.15 Credit plus a point lower on the strike.
Sold these last Friday @ 0.71 and closed @ 0.45 today
#ironcondor AMZN Sold Sept. 18,…
#ironcondor AMZN
Sold Sept. 18, 3030/3050/3660/3680 for 6.20
SPX 1-dte
#Spx1dte Sold to Open $SPX Aug 24th 3320/3340-3440/3460 condors for .90, IV 10.25%, SPX 3398, delats: -.09, +.05.
Expiring: Aug 21st 3315/3335-3425/3445 condors, sold yesterday for 1.00.
SPY
BTC 280/300 bull put spread at .55, sold at 1.07 following the TT rules. I had another 7 days to go before I took the trade off at 21 days but I got my 50%.
SPX 7-dte closed
#SPX7dteLong Sold to Close $SPX Aug 21st 3390/3410 call spreads for 8.25. Put side sold for 4.45 yesterday. Bought for 15.20 on Monday, closed for 12.70 total. Need to break out of this consolidation to get these back into profit mode.
A TRADE:
CC BTO STOCK @19.83 Buying the dip.
TRADES; NOT timely.
OSTK BTO STOCK @120.48 Half the calls are not covered.
OSTK STO 8/28/20 125.0 CALLS @6.60 & 6.80
OSTK STO 8/28/20 130.0 CALL @7.10
KODK STO 8/28/20 9.0 CALLS @.54
LABU
#ShortPuts – Adding one…
Sold LABU SEP 11 2020 47.5 Put @ 2.45
Econ Calendar for week of 8/24/20
Link to calendar: https://research.investors.com/economic-calendar/
FSLY LVGO NFLX NVDA SLB UVXY
#ShortPuts #ShortStrangles #CoveredCalls – That’s about it for this week. Ready for the election fun with my biggest cash position of the year.
FSLY: A quickie for fun.
Bought to Close FSLY SEP 4 2020 65.0 Put @ .29 (sold for 1.25)
LVGO: Still holding positions in the other side of the merger with TDOC.
Bought to Close LVGO AUG 28 2020 110.0 Put @ .20 (sold for 2.30)
Bought to Close LVGO SEP 4 2020 100.0 Put @ .60 (sold for 2.05)
NFLX: Second time with one of these. Booking it a little early for safety.
Bought to Close NFLX SEP 4 2020 425.0/575.0 Strangle @ 1.44 (sold for 4.75)
NVDA: Cramer really talking it up. Rolling up from the 50ma to the 20ma for additional credit.
Rolled NVDA SEP 18 2020 425.0 Put to SEP 18 2020 450.0 Put @ 3.10 credit (7.05 total now)
SLB: Covered Calls.
Bought to Close SLB AUG 21 2020 19.0 Calls @ .01 (sold for .53)
Sold SLB SEP 4 2020 19.0 Calls @ .37
UVXY: Rolling covered calls for more credit while keeping a little downside cushion.
Rolled UVXY AUG 21 2020 19.0 Calls to AUG 28 2020 19.0 Calls @ .60 credit
Rolled UVXY AUG 21 2020 17.0 Calls to SEP 4 2020 17.0 Calls @ .38 credit
#fallingknifeCR Not much of a…
#fallingknifeCR
Not much of a fall but, worth a shot IMHO
CR BTO BuCS 18 Sep 55/60 for 2.10
KLAC
#IronCondor – BTC KLAC SEP 18, 2020: 230 / 220 – 175 /165 Iron Condor @ $2.15 (originally sold for $3.78). Worth it for the 10 day holding period.
Closing LABU
Bought to close 9/4 40 puts @ .40. Sold for 1.75 on 8/12.
FL closed
#Earnings Sold to close $FL Aug 21st 27 #LongStraddle for .75. Bought yesterday for 2.03. The only time profit was available was the open but unfortunately I was not paying close enough attention.
TNA
#ShortPuts – Starter positions going down below the 50ma.
Sold TNA SEP 18 2020 28.0 Put @ 1.08
Sold TNA SEP 18 2020 27.0 Put @ .90
TSLA
#BullPutSpreads – I’ll take a small shot pre-split. The stock actually sold off for 10 whole minutes. 🙂 🙂
Sold TSLA AUG 28 2020 1300.0/1000.0 Bull Put Spread @ 2.40
TSLA…I’m calling the top here
#ShortStrangles – Ending my foray into the TSLA short strangle world. Overall loss on the 2 tries. I’ll venture back in post split on the put side only.
Bought to Close TSLA SEP 18 2020 1300.0/2900.0 Strangle @ 37.60 (sold for 19.45)
Gain on first try was 5.30 so net loss of 14.15
Looking for a put sale on some weakness….
AMZN
BTC the August 21 2650/3750 strangle at .03, sold at 2.60 thanks to Fuzzball for the trade.
XLE at the close STO…
XLE at the close
STO XLE Oct16’20 30 PUT @ 0.43
STO XLE Dec18’20 30 PUT @ 1.10
TSLA
MAking a new all time high so, rolled the 750 put up to the 1200 put for a credit of 6.02
SPX trades
#SPX1dte Sold to Open $SPX Aug 21st (PM) 3315/3335-3425/3445 condors for 1.00, IV 12.74%, SPX 3390, deltas -.07, +.07.
WDC to STX swap
#CoveredCalls – Thanks to @OptionIceman for reminding me WDC had suspended it’s divvy. I was not aware of this. STX is a similar company with a similar chart and a similar divvy. Liquidated my WDC and bought an equal number of shares in STX. WDC was underwater so I’ll roll all that into the new position and go from there with an STX basis.
Thanks again Iceman!
TSLA
I’ve been away from this one since January.
Taking a flyer here with 1 DTE
Sold 1 TSLA 08/21/2020 2300 Call / Bought 1 TSLA 2500 Call @ 1.52 Credit.
This stock topped out at 2021.99 so far, up 140 ish
AMZN NVDA SPCE WDC
#IronCondors #ShortStrangles #CoveredCalls #Earnings – A little bit of everything today…
AMZN: Book it. Remnants of an iron condor after closing the longs recently.
Bought to Close AMZN AUG 21 2020 2700.0/3700.0 Strangle @ .25 (sold for 4.05)
NVDA: Earnings plus new position.
Bought to Close NVDA AUG 21 2020 455.0 Put @ .23 (sold for 4.10)
Bought to Close NVDA SEP 04 2020 425.0 Put @ 1.55 (sold for 3.80)
Sold NVDA SEP 18 2020 425.0 Put @ 3.95
SPCE: Covered. New sales playing to the downside.
Bought to Close SPCE AUG 21 2020 18.0 Calls @ .05 (sold for 1.65)
Sold SPCE AUG 28 2020 15.0 Calls @ 2.05
WDC: Stock assigned early so beginning covered call campaign. Great divvy down here.
Sold WDC SEP 11 2020 36.0 Calls @ .56
A TRADE:
KODK STO 8/28/20 8.0 CALLS @.68
KODK 100 SHARES @7.29 #Covered call.
CLDR PUT Rolled
#shortputs
$CLDR BTC 8/21 12.5 put and STO 8/26 12.5 put at .10 added credit
FL earnings analysis & trade
#Earnings $FL reports tomorrow morning. Below are details on earnings one-day moves over the last 12 quarters.
May 22, 2020 BO -8.49%
Feb. 28, 2020 BO +8.01%
Nov. 22, 2019 BO -2.91%
Aug. 23, 2019 BO -18.91%
May 24, 2019 BO -15.95%
March 1, 2019 BO +5.96%
Nov. 20, 2018 AC +14.90%
Aug. 24, 2018 BO -9.17%
May 25, 2018 BO +20.15%
March 2, 2018 BO -12.72%
Nov. 17, 2017 BO +28.16% Biggest UP
Aug. 18, 2017 BO -27.92% Biggest DOWN
Avg (+ or -) 14.44%
Bias -1.57%, negative bias on earnings.
With stock at 27.15 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 25.04 to 29.26 (+/- 7.8%)
Based on AVERAGE one-day move over last 12 quarters: 23.23 to 31.07
Based on MAXIMUM one-day move over last 12 Q’s (28.2%): 19.50 to 34.80
Based on DOWN max only (-27.9%): 19.57
Open to requests for other symbols.
NVDA closed
#Earnings BTC $NVDA 455/460-525/530 iron condors for $0.15. Sold yesterday for 1.75.
This was my first Jeff follow. Now I’m a Believer.
DE earnings analysis
#Earnings $DE reports tomorrow morning. Below are details on earnings one-day moves over the last 12 quarters.
May 22, 2020 BO -1.47%
Feb. 21, 2020 BO +6.99% Biggest UP
Nov. 27, 2019 BO -4.29%
Aug. 16, 2019 BO +3.84%
May 17, 2019 BO -7.65% Biggest DOWN
Feb. 15, 2019 BO -2.11%
Nov. 21, 2018 BO +2.42%
Aug. 17, 2018 BO +2.35%
May 18, 2018 BO +5.74%
Feb. 16, 2018 BO +1.57%
Nov. 22, 2017 BO +4.32%
Aug. 18, 2017 BO -5.37%
Avg (+ or -) 4.01%
Bias 0.53%, positive bias on earnings.
With stock at 191.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 183.41 to 198.59 (+/- 4.0%)
Based on AVERAGE one-day move over last 12 quarters: 183.34 to 198.66
Based on MAXIMUM one-day move over last 12 Q’s (-7.7%): 176.39 to 205.61
Based on UP max only (+7.0%): 204.35
Open to requests for other symbols.
#shortputs VIAC Sold Sept. 18,…
#shortputs VIAC
Sold Sept. 18, 25 put for .88.
TSLA hits 2003.16
Just WOW
NVDA closed
#Earnings BTC $NVDA 455/460-525/530 iron condors for .20. Sold yesterday for 1.70.
WFC GILD WBA HII
S&P500 Dividend payers within 10% of their yearly lows.
On my watch list for now
BABA Iron Condor
Sold $BABA 9/18 225/235//280/290 iron condor @ 2.95. Earnings were reported this morning.
TSLA
STO September 18, 750/3500 strangle at 6.80, Going to try one more time to make money on TSLA.
KSS covered calls
Bought to Close KSS Aug 21 2020 22.5 Covered Calls 0.01. Sold before earnings @ 1.88.
So it didn’t quite protect me from the drop in the stock, but it did help.
Some diagonal bear spreads helped a bit too.
#closing PLUG Aug. 12, sold…
#closing PLUG
Aug. 12, sold a Sept. 18, 10/12 put spread for 1.15, bought today for .59
Thanks to everyone who was plugging PLUG
SPX 7-dte
#SPX7dteLong Bought to Oen $SPX Aug 26th 3340/3360-3370/3390 condors for 16.00, with SPX at 3363.
TQQQ
BTC August 21, 70 puts at .01, sold at .85 cents. That is it for this week.
VXX
Completing some Short Calendar Iron Condor Spreads.
Bought to Open VXX Oct 16 2020 70 Calls / Sold VXX Aug 21 2020 26.0 Calls @ 0.05 Credit.
Bought to Open VXX Sep 18 2020 60 Calls / Sold VXX Aug 21 2020 27.0 Calls @ 0.08 Credit.
Still trying to keep my 25.0 Puts out of the money by the close tomorrow.
As a kicker I also sold some VXX Aug 21 2020 28.0 Calls @ 0.25 against already long calls that expire tomorrow but are fully paid for from earlier spreads.
#DoubleDip
A TRADE:
OSTK STO 9/4/20 130.0 CALL @10.0
SPX dead zone
#SPX7dte First time I’ve ended in the dead zone of one of these long condors. Got a dollar for the put side this morning but zero for the call side. My mistake was forgetting the Fed minutes were today, which meant I should have closed with a small profit before 2pm ET. Loss of 14.80.
VXX
Adding some calls for this week hoping to pull my large put positions back out of the money before Friday
Sold VXX 08/21/2020 26.0 Calls @ 0.29
Sold VXX 08/21/2020 27.0 Calls @ 0.18.
Sold these against November long calls I’ve been adding for the last two weeks.
If the markets decline badly, these can easily be rolled.
INTC
#ShortPuts – Just in case NVDA pulls some chip stocks down taking this off for safety. Got over half of max profit. Might look at it again when the squeeze forms and sell something ITM for the recovery.
Bought to Close INTC SEP 18 2020 45.0 Puts @ .42 (sold for .94)
ROKU
#ShortPuts – Just for safety. Still holding Sep 18th 125 strike.
Bought to Close ROKU AUG 21 2020 140.0 Put @ .34 (sold for 2.78)
SPY
STO October 2, 280/300 bull put spread at 1.02
Options Bistro 