#SPX1dte Bought to Open $SPX July 29th 3310/3325 call spreads for 1.80. Spec play based on pullback during Upside Warning.
Category Archives: Uncategorized
Markets – AAMTG
The big boys finally get hit – Tech Giants Apple, Amazon, Microsoft, Tesla, Google Tumble
https://www.finviz.com/map.ashx?t=sec
SPX 1-dte
#SPX1te Sold to Open $SPX July 24th 3125/3145-3290/3310 condors for .95, IV 19.05%, SPX 3232, deltas: -.05, +.05.
VXX New Diagonal
Bought to Open 1 VXX Oct 16 2020 70 Call at $1.24
Sold to Open 1 VXX Jul 31 2020 32 Call at $1.36
for a Net Credit at $0.12
Pushing my (hopefully free) long position out closer to the election
VXX
Moving out to next week’s Calls for a diagonal spread.
Sold VXX JUL 31 2020 $37 Calls @ 0.57 against August and September long positions.
#DoubleDip
Doing this as VXX crosses above 30, taking all of tomorrow’s short puts out of the money.
EW earnings analysis & trade
#Earnings $EW reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
April 23, 2020 AC +1.10%
Jan. 30, 2020 AC -6.03%
Oct. 23, 2019 AC +1.63%
July 23, 2019 AC +9.93% Biggest UP
April 23, 2019 AC -1.79%
Jan. 31, 2019 AC -1.00%
Oct. 23, 2018 AC -5.35%
July 26, 2018 AC -8.50%
April 24, 2018 AC -3.82%
Feb. 1, 2018 AC +3.81%
Oct. 24, 2017 AC -9.55% Biggest DOWN
July 26, 2017 AC +0.64%
Avg (+ or -) 4.43%
Bias -1.58%, negative bias on earnings.
With stock at 61.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 73.37 to 83.03 (+/- 6.2%)
Based on AVERAGE one-day move over last 12 quarters: 74.74 to 81.66
Based on MAXIMUM one-day move over last 12 Q’s (9.9%): 70.43 to 85.97
Based on DOWN max only (-9.6%): 70.73
Open to requests for other symbols.
TSLA condor closed
#Earnings $TSLA July 24th 1375/1385-1880/1885 condors closed for .40. Sold yesterday for 3.45.
NVDA
#ShortPuts – Adding one the week before earnings down near the 50ma.
Sold NVDA AUG 07 2020 375.0 Put @ 2.59
AAPL
#ShortPuts – Another one for safety. Waiting for earnings now…
Bought to Close AAPL JUL 24 2020 370.0 Put @ .44 (sold for 2.30)
MSFT
#ShortPuts – Haven’t been in this one in ages. Selling at the expected move and the 50ma.
Sold MSFT AUG 21 2020 195.0 Put @ 2.60
TSLA Earnings (pre and post)
#ShortPuts #ShortStrangles #JadeLizards
Bought to Close TSLA JUL 24 2020 1500.0/1505.0 Bear Call Spread part of the Jade Lizard @ 4.49
Any fill better than 5.0 adds to the profit here. I’ll let the put side expire for net gain of 2.36.
Also:
Sold TSLA AUG 21 2020 800.0/3200.0 Strangle @ 6.10 (can do better now)
Figuring 50 percent down and 100 percent up might be safe! 🙂 🙂
Also:
Still holding 600 strike short put in Aug monthly.
#fuzzyhotair #putratioladder AAPL put ratio…
AAPL put ratio ladder, week 3 (1×2 credit ratios, 30 delta/25 delta, with a BWB hedge to extend downside)
Week 1: CLOSED
Aug 21 345/340 sold 6.70, bought 2.32
Wish I hadn’t closed this, the breakeven was super far away…should have let more juice drain off until 20 DTE
Week 2:
Aug 28 372.5/365 sold 7.12, put fly hedge 350/340/335 .90
Breakeven $340
Week 3–the Sep 4 expiration just opened today
Sep 4 360/355 sold 6.05, put fly hedge bought 345/335/330 for .93
Breakeven: $335
TSLA post-earnings condor
Sold $TSLA 8/21 1330/1350//1800/1820 iron condor @ 9.40. Leaning short with short puts and calls at 20 and 36 delta. IV rank 34.
INTC earnings analysis
#Earnings $INTC reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
April 23, 2020 AC +0.37%
Jan. 23, 2020 AC +8.13%
Oct. 24, 2019 AC +8.09%
July 25, 2019 AC -1.09%
April 25, 2019 AC -8.99% Biggest DOWN
Jan. 24, 2019 AC -5.46%
Oct. 25, 2018 AC +3.11%
July 26, 2018 AC -8.58%
April 26, 2018 AC -0.60%
Jan. 25, 2018 AC +10.55% Biggest UP
Oct. 26, 2017 AC +7.37%
July 27, 2017 AC +0.97%
Avg (+ or -) 5.28%
Bias 1.16%%, positive bias on earnings.
With stock at 61.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 58.17 to 63.83 (+/- 4.6%)
Based on AVERAGE one-day move over last 12 quarters: 57.78 to 64.22
Based on MAXIMUM one-day move over last 12 Q’s (10.6%): 54.56 to 67.44
Based on DOWN max only (-9.0%): 55.52
Open to requests for other symbols.
SPX trades
#SPX7dteLong Bought to Open $SPX July 29th 3240/3260-3270/3290 condors for 16.95, with SPX at 3268.
Expiring: July 22nd 3230/3250 call spreads for max credit of 20.00. Condors bought last Wednesday for 17.40.
#SPX1dte Expiring: July 22nd 3165/3185-3310/3330 condors, sold yesterday for 1.10.
VIX – worth a read
https://www.zerohedge.com/markets/volatility-more-number-its-everything
Textbook Volatility Defined
Volatility is a measure of the historical dispersion of returns around a mean. The greater the dispersion, the higher the volatility, and ultimately the range of potential outcomes.
Volatility is typically quoted as +/- 1 standard deviation. For instance, 14% annualized volatility means, with 68% certainty, we should expect annualized returns to be +/- 14%. The volatility formula describes a normal bell-shaped curve in which price changes should be contained.
Normal implies there are equal odds the market falls 1% or rises 1% versus the average change. The graph below depicts a bell-shaped curve. The diagram also highlights standard deviations and the percentage of data that falls within each deviation.
Normal Is Not Reality
The assumption of a normally distributed bell curve is at the heart of finance. Embedded in that assumption is the idea that market participants are rational and markets efficient. It drives risk management, option pricing, and many economic and market theories. The problem with such analysis is that the assumption is flat out wrong.
In a normal shaped curve, the S&P 500 should never move by more than five standard deviations up or down. By “never,” we mean once every 3.5 million trading days (approximately 14,000 years). Since 1970 there have been 34 such days. In March of 2020 alone, there were 7!
Summary
When investor confidence is high, liquidity is high, and volatility is typically low. Plenty of buyers and sellers willing to trade help assure orderly markets. However, when potential buyers become concerned about the risk of loss, liquidity fades. Buyers step away, sellers will take almost any price to protect against even steeper declines, and prices become more volatile. The suddenness of increased volatility and the false assumption of normally distributed prices leads to statistically impossible drawdowns.
Currently, volatility is two times pre-COVID levels. While sharply lower from March and April, liquidity remains problematic.
Volatility reminds us that the market structure is not stable. As a result, markets are more susceptible to sharp price changes. While most markets have been rising in recent months, the liquidity situation argues that bad news or a change in sentiment could result in substantial and nearly instantaneous losses.
Liquidity is poor, complacency is high, trade with caution.
T Earnings
#ShortPuts #Earnings – Might end up with some stock here. Got another position out in the monthlies slightly lower.
Sold T JUL 24 2020 30.5 Puts @ .75
LULU
MSFT earnings analysis
#Earnings $MSFT reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
April 29, 2020 AC +1.00%
Jan. 29, 2020 AC +2.82%
Oct. 23, 2019 AC +1.96%
July 18, 2019 AC +0.14%
April 24, 2019 AC +3.31%
Jan. 30, 2019 AC -1.83% Biggest DOWN
Oct. 24, 2018 AC +5.84%
July 19, 2018 AC +1.79%
April 26, 2018 AC +1.65%
Jan. 31, 2018 AC -0.78%
Oct. 26, 2017 AC +6.41% Biggest UP
July 20, 2017 AC -0.57%
Avg (+ or -) 2.34%
Bias 1.81%, positive bias on earnings.
With stock at 211.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 201.16 to 220.84 (+/- 4.7%)
Based on AVERAGE one-day move over last 12 quarters: 206.06 to 215.94
Based on MAXIMUM one-day move over last 12 Q’s (6.4%): 197.47 to 224.53
Based on DOWN max only (-1.8%): 207.14
Open to requests for other symbols.
PFE Calls
#coveredcalls
$PFE STO 7/24 38.50 calls at .27
APT Calls / NUGT Calls Rolled / NFLX Put Closed
#coveredcalls
$APT STO 7/24 23 calls at .55
$NUGT BTC 8/21 90 calls and STO 8/21 95 calls for $3 debit. Stock at 98.12
$AAOI STO 7/24 14.50 calls at .40
#shortputs #earnings
$NFLX BTC 7/24 450 put at .40. STO at 4.94. Thank you @fuzzballl for trade and the caution.
TNA
#ShortPuts – After a few rolls finally got this one. Happily paying the dime here…
Bought to Close TNA JUL 24 2020 26.0 Puts @ .10 (sold for 3.10 total premium)
TSLA Earnings
#ShortPuts #Earnings – In a different account…going out to the monthlies and down near where my covered call is sitting.
Sold TSLA AUG 21 2020 600.0 Put @ 2.27
TSLA Earnings
#JadeLizards #Earnings – Doing this in a PM account so the margin hit isn’t horrible. Playing for a down move of 100 to 500 points. LOL. No upside risk. Need at least down 100 for a shot at decent profit. Anything less than that still makes 1.85.
Sold TSLA JUL 24 2020 1100.0/1500.0/1505.0 Jade Lizard @ 6.85
TSLA earnings analysis & trade
#Earnings $TSLA reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
April 29, 2020 AC -2.32%
Jan. 29, 2020 AC +10.29%
Oct. 23, 2019 AC +17.66% Biggest UP
July 24, 2019 AC -13.61% Biggest DOWN
April 24, 2019 AC -4.26%
Jan. 30, 2019 AC -0.56%
Oct. 24, 2018 AC +9.13%
Aug. 1, 2018 AC +16.18%
May 2, 2018 AC -5.54%
Feb. 7, 2018 AC -8.62%
Nov. 1, 2017 AC -6.79%
Aug. 2, 2017 AC +6.50%
Avg (+ or -) 8.46%
Bias 1.51%, positive bias on earnings.
With stock at 1600.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 1363.21 to 1836.79 (+/- 14.8%)
Based on AVERAGE one-day move over last 12 quarters: 1464.72 to 1735.28
Based on MAXIMUM one-day move over last 12 Q’s (17.7%): 1317.44 to 1882.56
Based on DOWN max only (-13.6%): 1382.24
Open to requests for other symbols.
CMG earnings analysis
#Earnings $CMG reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
April 21, 2020 AC +12.14%
Feb. 4, 2020 AC -3.48%
Oct. 22, 2019 AC -5.15%
July 23, 2019 AC +5.18%
April 24, 2019 AC -4.46%
Feb. 6, 2019 AC +11.35%
Oct. 25, 2018 AC +3.42%
July 26, 2018 AC +5.71%
April 25, 2018 AC +24.44% Biggest UP
Feb. 6, 2018 AC -10.55%
Oct. 24, 2017 AC -14.58% Biggest DOWN
July 25, 2017 AC -2.30%
Avg (+ or -) 8.56%
Bias 1.81%, positive bias on earnings.
With stock at 1170.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 1091.56 to 1248.44 (+/- 6.7%)
Based on AVERAGE one-day move over last 12 quarters: 1069.81 to 1270.19
Based on MAXIMUM one-day move over last 12 Q’s (24.4%): 884.05 to 1455.95
Based on DOWN max only (-14.6%): 999.41
Open to requests for other symbols.
TQQQ Put Closed
#shortputs
$TQQQ BTC 7/31 60 put at .06. STO at 2.10. Thank you @jsd501
SPX 1-dte
#SPX1dte Sold to Open $SPX July 22nd 3165/3185-3310/3330 condors for 1.10, IV: 17.19%, SPX 3257, deltas: -.06, +.06
NFLX Earnings
#ShortPuts #Earnings – Just for safety in case this thing starts getting some more downward momo…
Bought to Close NFLX JUL 24 2020 450.0 Put @ .50 (sold for 5.25)
#coveredcalls CGC Bought 100 shares…
#coveredcalls CGC
Bought 100 shares @17.73, sold July 31, 18 call for .52. 17.21 debit
ISRG earnings analysis
#Earnings $ISRG reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
April 16, 2020 AC +3.11%
Jan. 23, 2020 AC -4.19%
Oct. 17, 2019 AC +6.96%
July 18, 2019 AC -1.45%
April 18, 2019 AC -7.00% Biggest DOWN
Jan. 24, 2019 AC -3.93%
Oct. 18, 2018 AC -3.45%
July 19, 2018 AC -0.86%
April 17, 2018 AC +8.17% Biggest UP
Jan. 25, 2018 AC -2.12%
Oct. 19, 2017 AC +3.39%
July 20, 2017 AC -4.55%
Avg (+ or -) 4.10%
Bias -0.49%, negative bias on earnings.
With stock at 665.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 627.36 to 702.64 (+/- 5.7%)
Based on AVERAGE one-day move over last 12 quarters: 637.75 to 692.25
Based on MAXIMUM one-day move over last 12 Q’s (8.2%): 610.67 to 719.33
Based on DOWN max only (-7.0%): 618.45
Open to requests for other symbols.
VXX
Sold VXX Jul 24 2020 33.5 Calls at $0.33 against long calls left over from earlier diagonals.
Replacing calls that expired Friday.
#DoubleDip
If this reaches the strike price, the markets will be falling pretty hard.
MRVL Put / SPY Put Closed
#shortputs
$MRVL STO 7/24 35.5 put at .30
$SPY BTC 8/21 250 put at .28. STO 6/24 at 3.03. Thank you @fuzzballl
TQQQ
STO December 18, 40 put at 2.15
SLB
Sold SLB 07/24/2020 21.0 Diagonal Calls @ 0.16 with the stock at 19.60.
#Earnings this week.
I also have a large covered call position @ 20.50 strike
TQQQ
STO December 18, 45 puts at 2.78
LABU
#ShortPuts – Selling below the 50ma and outside the expected move…
Sold LABU AUG 14 2020 50.0 Puts @ 1.50
TQQQ
#ShortPuts – This was a #TakeOneForTheTeam but it didn’t help much…
Bought to Close TQQQ JUL 24 2020 95.0 Put @ .10 (sold for 2.40)
Markets
Source: Bloomberg
Finally, just saying…
SPX trades
#SPX7dteLong Bought to Open $SPX June 27th 3225/3245-3255/3275 condors for 16.75, with SPX close at 3251.
Expired with max 20.00 credit: June 20th 3190/3210 call spreads. Condors bought for 17.40 last Monday.
#SPX1dte #RiskReversal expired worthless, keeping .35 credit from Friday.
EWZ
ShortPuts – Bought to Close EWZ JUL 31 2020 27.5 Puts @ .06 (sold for .76)
Markets
If you are not in Tech this market sucks
Change in market cap year-to-date
Amazon +$561 billion
Apple +$365 billion
Microsoft +$335 billion
Tesla +$203 billion
Google +$112 billion
JPMorgan -$138 billion
Wells Fargo -$125 billion
Bank of America -$115 billion
Exxon Mobil -$111 billion
Berkshire Hathaway -$90 billion
This has sent Bloomberg’s Fear-Greed indicator to its highest ever – above March 2000’s previous peak – and as @C_Barraud notes that these highs contrasted with a plunge in March that produced record weekly lows, surpassing those in December 2018 and May 2000.
CINF
BTC August 21, 50 puts at $0.30, sold at $2.00
Hat tip @optioniceman
TNA
#ShortPuts – A little bit of boredom and a little bit of hopefully #TakeOneForTheTeam …
Sold TNA AUG 21 2020 20.0 Puts @ .61
SPY Rolls
Bought to close SPY 07/20/2020 305.0 Call / Sold SPY 07/27/2020 305.0 Call @ 0.25 Credit.
Bought to close SPY 07/20/2020 315.0 Call / Sold SPY 07/27/2020 316.0 Call @ 0.12 Credit plus an extra point on the strike/
SPY is just pennies away from it’s highest close since February, so we are overdue for a correction.
#SPYLadder
XLK DiagBFly
BTO $XLK Jan 22: $90 call / $125 put long strangle @ $50
STO $XLK Aug 21: $110 short straddle @ $6.70
Minimum cash out value of the LEAP strangle is $35. Whatever happens I get to keep the $6.70 for the first (aggressive) sale of a straddle, so that leaves ($50 – $35 – $6.70) = $8.30 to finance over the next 550 days or $0.015 per day.
Given the volatility of the underlying it will be a roller coaster ride, but doable.
On this kind of trade I want to get the max premium out of the first sale (hence the straddle sale) – recognizing that an aggressive roll will be needed on one of the sides. For sure with XLK, future short term sales will be strangles not straddles.
T
#ShortPuts #Earnings – Earnings this week but not much premium. Going out to the monthlies and selling below the recent range. 8.3% divvy yield down there…
Sold T AUG 21 2020 28.5 Puts @ .52
#shortputs UNG Sold Aug. 21,…
#shortputs UNG
Sold Aug. 21, 9.50 put for .63
XBI
STO September 95 puts at 1.05
SOXL
BTC August 21, 55 puts at .05, sold at 2.90
LABU
#ShortPuts – Bought to Close LABU JUL 24 2020 47.5 Puts @ .08 (sold for 1.50)
VXX
Sold VXX 07/24/2020 28.50 Puts @ 0.36 with the stock at 30.15.
Sold against long 2021 and 2022 long Puts and replacing similar puts that expired Friday although at a lower strike.
#DoubleDip
SLB
Sold SLB 07/24/2020 20.50 Covered Calls @ 0.11 with the stock at 18.80.
#Earnings this week 07/24 BMO
MRNA NVAX Call Roll / TQQQ Close Put
#coveredcalls
$MRNA BTC 7/17 90 call and STO 7/24 95 call at extra 2.50 credit. Stock at 94.85 at days end. Will try to roll again.
$NVAX BTC 7/24 120 call and STO 7/31 130 call at debit of .25. Stock jumped to 140.49 during the day. Rolling again on Monday perhaps.
#shortputs
$TQQQ BTC 7/31 50 put at .10. Thank you @jsd501 AKA the King of QQQ’s. 😉
Dexcom Covered Call Diagonal $400/$420 Roll
Bizarre market. Friday….Diagonal roll up $20 for a $7.49 credit with the stock at $422. $36.84 of premium……where is this market heading????
MDLZ DiagBFly
BTC MDLZ July 17: 51 short straddle @ $3.18 (originally sold for $1.50)
STO MDLZ July 24: 53.5 short straddle @ $1.38
MDLZ showing some strength, may have to move to selling short term strangles rather than straddles.
Cover is the Jan 2022 long 40 put / 65 call strangle.
EWZ DiagBfly
#DiagonalButterfly
BTC EWZ July 17: 30 straddle @ $1.26 (originally sold for $2.04)
STO EWZ July 24: 31 straddle @ $1.40
So far so accommodating with EWZ remaining in a nice channel. Premiums are coming down (obviously with a lower VIX), so I will look to roll the Sep 18 long strangle to Jan 22 to extend the selling opportunities.
The short straddle is covered by a long EWZ Sep 18: 24 put / 30 call strangle.
Expiration
#optionsexpiration
$EWZ 29 put Thank you @fuzzballl
$WORK 30 put
$T 30 put
$NEO 30 put
$SNAP 21 put
$PTON 55 put
$SPCE 18 put
$MRNA 75 put
$PFE 34 put
$CODX 20 call
$FB 255 call
$PTON 63 call
$SPX 1 DTE Thank you @jeffcp66
$BYND 144/155 BUPS Expired Total loss.
$TSLA 1470/1490 BECS Expired Full full loss
$AMZN 2570/2590 BUPS Expired Full profit
$ZM 190/210 BUPS Expired Full profit
#assignment
$DFEN 18 put assigned. Basis 16.85. Stock at 11.90. Go aerospace, please.
$PFE 36 call called away
Upside to come
The #VIXIndicator fired a bullish signal at the close. This indicates the likelihood of a further move higher in the coming days or weeks.
SPX 1-dte & NFLX
#SPX1dte #RiskReversal for Monday. Placed as one trade with SPX at 3229, IV 13.7%, total credit: .35. Aggressive positioning based on Upside Warning:
Sold $SPX July 20th 3185/3165 put spreads for 2.07, ∆ -.17
Bought $SPX July 20th 3270/3285 call spreads for 1.72, ∆ +.14
Expiring: July 17th 3115/3135-3270/3285 condors, sold yesterday for 1.15.
#Earnings Also expiring, $NFLX July 17th 460/465-590/595 condors, sold yesterday for 1.446
VXX Put Rolls
Bought to Close VXX Jul 17 2020 31.5 Puts / Sold to Open VXX Jul 24 2020 30 Puts @ Net Credit of $0.08 plus a 1.50 drop on the short strike.
Bought to Close VXX Jul 17 2020 31.0 Puts / Sold to Open VXX Jul 24 2020 29 Puts @ Net Credit of $0.07 plus a 2.00 drop on the short strike.
My 30.50 and 30.0 Puts for today should expire shortly
TQQQ
#ShortPuts – No sense waiting 2 weeks for this. Commission free below .10 in this account.
Bought to Close TQQQ JUL 31 2020 50.0 Puts @ .08 (sold for 1.23)
VIAC Rolls
Bought to lose VIAC 07/17/2020 20.0 Covered Calls / Sold VIAC 08/07/2020 20.0 Covered Calls @ 0.25 Credit.
This will keep me in this low p/e highish dividend stock through earnings on the 6th of August.
Also Bought to close VIAC 07/17/2020 25.0 Diagonal calls / Sold VIAC 07/24/2020 26.0 Calls @ 0.24 Credit plus an extra point on the strike price.
SPX 7-dte
#SPX7dteLong Bought to Open $SPX July 24th 3205/3225-3235/3255 condors for 16.95, with SPX at 3230.
Expiring today: July 17th 3180/3200 call spreads for max of 20.00. Condors bought last Friday for 17.25.
VXX longs
#VXXGame Bought to open $VXX Aug 21st 65 calls for .50. Added to a large number of 85’s I have for same expiry. I have not yet sold against these, but will look to do on next down turn. I have a smaller number of long $UVXY 90 calls expiring today, average purchase price .47.
UVXY
#ShortPuts – Sold UVXY JUL 24 2020 25.5 Puts @ .58
VXX New Put Diagonal
Bought to Open VXX Jan 15 2021 15 Puts / Sold to Open VXX Jul 24 2020 30 Puts @ Net Credit of $0.12
UVXY (again)
#ShortPuts – Closing for safety. Looking for new sales now…
Bought to Close UVXY JUL 17 2020 28.5 Puts @ .50 (sold for .70 and .95)
UVXY
#ShortPuts – Taking small profits from the 29 strike. Still holding 28.5s for a probable roll.
Bought to Close UVXY JUL 17 2020 29.0 Puts @ .90 (sold for 1.17)
Econ Calendar for week of 7/20/20
Link to calendar: https://research.investors.com/economic-calendar/
EWZ NFLX NTAP OLED ROKU SLB VXX WYNN
EWZ: It keeps paying.
Bought to Close EWZ JUL 24 2020 27.5 Puts @ .05 (sold for .72)
NFLX: Still holding next week’s 450 short put.
Sold NFLX AUG 21 2020 400.0/600.0 Strangle @ 8.55
NTAP: Covered calls.
Bought to Close NTAP JUL 17 2020 45.0 Calls @ .02 (sold for .80)
Sold NTAP JUL 24 2020 45.0 Calls @ .71
OLED: Closed for tiny profit. Replaced with NFLX strangle.
Bought to Close OLED JUL 31 2020 145.0 Put @ 2.65 (sold for 2.90)
ROKU: Another one gone early.
Bought to Close ROKU JUL 24 2020 115.0 Put @ .06 (sold for 2.07)
SLB: Covered call roll with earnings next week.
Rolled SLB JUL 17 2020 18.5 Calls to JUL 24 2020 19.0 Calls @ .25 credit (1.65 total now)
VXX: Booked it earlier in the day.
Bought to Close VXX JUL 17 2020 31.5 Puts @ .37 (sold for .72)
WYNN: Stock will be assigned at about 88.05. Wanted to get it covered quickly. In an IRA so have to spread the call sale for now. Going DITM for max downside protection. Vegas could close again. Basis 74.90 after this sale with 2 weeks still to go to earnings.
Sold WYNN JUL 24 2020 70.0/100 Bear Call Spread @ 13.15
Upside coming?
#VIXIndicator – Looks like we will get an Upside Warning at the close.
I have posted for the last two years about #DoubleHeaders, where we get a Downside Warning canceled, followed by another DW without an Upside in between. They have become more common and I have been getting a bigger database to analyze. I missed an Upside Warning on May 27th. The SPX closed at 3036 that day, then ran up to its recent high of 3233 on June 8th. After that, I tweaked the Indicator again so we can catch the rallies in the #DoubleHeader environment.
So if $VIX closes below 28.02 today, we can expect another run up. However I would say it is a less reliable Upside Warning with VIX still in the high 20’s.
TRADES:
AAL STO 7/24/20 13.5 CALLS @.30
AAL STO 7/24/20 11.0 PUTS @.35 .65 STRANGLE
OSTK STO 7/24/20 49.0 CALLS @2.15 Stocks been on a tear. Have a 44.0 @2.25 & a 45.0 @1.75, covered calls expiring today.
VXX Calls
Bought to close VXX 07/17/2020 35.0 Calls @ 0.01.
Sold this on 7/13 @ 1.02 AND AGAIN @ 2.08 as part of two diagonal call spreads.
This leaves me with 2 more zero-cost long VXX Calls.
Letting my 36,37,38,41 and 42 Calls expire
VIAC Roll
With the stock at 24.89 I bought VIAC 07/17/2020 24.0 Calls / Sold VIAC 07/24/2020 24.0 Calls @ 0.45 Credit
Options Bistro 