#TICK I don’t know if anyone else watches TICK closely like I do, or have insight on it, but it just hasn’t been behaving normally in last few months. Like today it was consistently above +600 but SPX was kind of going sideways at the 5616 level. Then, when TICKS started trending DOWN, SPX took another strong leg UP 10 points. It used to kind of mimic the market minute to minute but lately tends to actually *counter* the S&P.
Category Archives: Uncategorized
SPX
Using the bounce to get a decent roll to Monday.
Rolled SPX Jul 12 2024 5625.0 Puts to Jul 15 2024 5620.0 Puts @ 2.50 credit (40.00 total now)
SPX 0-dte trades 7/12/24
#SPX0dte Sold to Open $SPX July 12th 5515/5535-5635/5655 condors for .90, deltas -.05 +.05, IV 17.62%, at 8:38 ET.
A brief dip but back to centered from the PPI data release… we are flat from yesterday’s close. Two days of heavy moves followed by a quiet Friday? We shall see…
I got 100-point width even after the data release which is better than mornings have been for awhile.
Finally a down day :)
Helped my positions a lot. Hopefully we stay down a little so I can take profits.
SPY Expiration
1 SPY short diagonal 547 Put
1 SPY short 549/554 Bull Put Spread – sold today at $0.21 Credit
NVDA
Jumping back in with a starter position the week before earnings.
Sold NVDA Aug 16 2024 115.0 Puts @ 2.60
PEP Put
Bought to close 1 PEP Jul 12 2024 150 Put at $0.01
SPX
This should finally do it. LOL Roll up to half of tomorrow’s expected move. (horrible timing)
Rolled SPX Jul 11 2024 5600.0 Puts to Jul 12 2024 5625.0 Puts @ 8.00 credit (37.50 total now)
TQQQ,
BTC August 2, $60 puts at .16, sold at 1.00, had a margin call so had to cover today .
TLT
Trying to squeeze a little more out of these. Holding 94 strike covered calls also.
Rolled TLT Jul 19 2024 92.5 Puts to Jul 19 2024 93.5 Puts @ .30 credit (2.10 total now)
TSLA Calls
Sold 1 TSLA 07/12/2024 300/290 Bear Call Spread at $0.28 Credit
TQQQ,
BTC July 26, $60 puts at .09 cents, sold a.83 cents.
STO August 23, $70 puts at 1.26
VIX Put Expiration
1 VIX JUL 10 2024 $12 PUT Expired this morning
SPX
This should put a top on the ridiculousness. LOL
Rolled SPX Jul 10 2024 5565.0 Puts to Jul 11 2024 5600.0 Puts @ 20.00 credit (29.50 total now)
SPX 0-dte trades 7/10/24
#SPX0dte Sold to Open $SPX July 10th 5530/5550-5620/5640 condors for .90, deltas -.08 +.05, IV 12.90
#SPXah Placed tight condor centered at 5080/5085 for 13.80 last night. Was doing fine until this sudden spike that started around 7:30am ET, so I stopped out for 14.35. May look to try another one after the open.
NUE Puts
Sold 1 NUE 07/12/2024 144/148 Bull Put Spread at $0.33 Credit
BMY Covered Calls
Sold 1 BMY 07/26/2024 44.0 Covered Call at $0.28
Sold 1 BMY 07/26/2024 45.5 Covered Call at $0.14
TSLA Calls
Sold 1 TSLA 07/12/2024 310/295 Bear Call Spread at $0.42 Credit
SBUX Puts
Sold 1 SBUX 07/12/2024 69/72 Bull Put Spread at $0.17 Credit
The short put is close to the 52 week low
#EveryLittleBitHelps
SPX
Pretty weak premium first half of the week. Thur and Fri get much better.
Rolled SPX Jul 09 2024 5560.0 Puts to Jul 10 2024 5565.0 Puts @ 4.10 credit (9.50 total now)
PEP Puts
#Earnings play
Sold 1 more PEP 07/12/2024 150/157.5 Bull Put Spread at $0.63 Credit
REVISION to calendar – Powell testimony
REVISION: Powell testimony today (Tuesday) is 10am ET…. same as Wednesday.
TQQQ,
STO August 23, 66 puts at 1.05
TQQQ,
BTC July 19, 55 puts at .04, sold at 1.21
TQQQ,
BTC July 12, $50 puts at .01, Sold at .82
TQQQ,
STO August 23, 70 puts at 1.61
PEP Puts
#Earnings play
Sold 1 PEP 07/12/2024 150/157.5 Bull Put Spread at $0.47 Credit
XBI
Taking the gains on the early bounce.
Bought to Close XBI Jul 19 2024 87.0 Puts @ .19 (sold for 1.40)
Bought to Close XBI Jul 19 2024 88.0 Puts @ .29 (sold for 1.35)
NVDA
Taking the gains on the early bounce.
Bought to Close NVDA Jul 19 2024 115.0 Put @ .43 (sold for 2.59)
Bought to Close NVDA Aug 16 2024 105.0 Puts @ .85 (sold for 2.00 and 3.45)
Bought to Close NVDA Aug 16 2024 110.0 Put @ 1.42 (sold for 2.70)
SPX
Early on this but nice to see a little weakness.
Bought to Close SPX Jul 08 2024 5520.0 Puts @ .30 (sold for 7.00)
Sold SPX Jul 09 2024 5560.0 Puts @ 5.40
F
#coveredcalls
#everylittlebithelps
Sto F 12 JUL 2024 13.5 CALL @.05
SPX 0-dte trades 7/8/24
#SPX0dte Sold to Open $SPX July 8th 5500/5520-5600/5620 condors for .80, deltas -.07 +.05, IV 12.61%, at 8:18am ET
Last Night: At 12:16am ET sold to Open $SPX 5525/5555-5560/5590 condors for 14.20. Of course, in this market it is being tested to the upside, currently around 15.00. Would like to close before the open and possibly place a new one ATM.
Earnings 7/8 – 7/12
The banks start reporting on Friday to kick off earnings season.
Economic Calendar 7/8 – 7/12
REVISION: Powell testimony on Tuesday is 10am ET…. same as Wednesday.
The big CPI on Thursday
TLT
I’ve got some 94 strike covered calls so rolling up short puts in case we keep going.
Rolled TLT Jul 19 2024 91.0 Puts to Jul 19 2024 92.5 Puts @ .50 credit (1.80 total now)
Happy 4th a day late!
Back from France and reloading inventory (trades). Should be at my normal level today.
So if people are interested, the butterfly and broken wing butterfly are some of the best tactics for income trading. I have taken others ideas and tweaked them for shorter term income generation. Typically 14-21 DTE but occasionally longer. Works on just about any ticker but SPX is probably the most efficient. The market determines the initial levels, delta zero on a 1 lot. Below is a screen shot of today’s trade.
I then manage with calendars, diagonals, verticals, or additional butterflies. Take profits around 5-10% which is usually over the weekend or within a week. Rinse and repeat. A significant move in either direction and I re-adjust the legs by moving either the leg or some of the center strikes. Since Oct 2022 it has made $128,153 on max risk of 100k (10-20k risk per account x 6 accounts).
Have to go out 28 DTE today due to low VIX to not have to pay too much for it.
TQQQ,
STO August 2, $70 puts at 1.01
SPX
Getting kinda scary up here. Crazy.
Bought to Close SPX Jul 05 2024 5485.0 Puts @ .50 (Sold for 22.90)
Sold SPX Jul 08 2024 5520.0 Puts @ 7.00
SPX 0-dte trades 7/5/24
#SPX0dte Sold to Open $SPX July 5th 5505/5535-5540/5570 condors for 13.60, IV 15.76%
June Jobs Report
#Jobs — Gains beat expectations again, but drop in prior months
Gain of +206,000 non-farm payroll jobs, vs. expected gain of 190K
Unemployment up 0.1% to 4.1%, vs expectation of unchanged
U6 unemployment 7.4%, unchanged
Labor force participation up 0.1 to 62.6%
Average hourly earnings up by 0.3%; +3.9% Y/Y
May jobs revised down by -54K to +218K
April jobs revised down by -57K to +108K
Happy Fourth of July
SPX
This should make Friday a little more exciting.
Rolled SPX Jul 05 2024 5460.0 Puts to Jul 05 2024 5485.0 Puts @ 2.50 credit (22.90 total now)
SPX 0-dte trades for 7/3
#SPX0dte Sold to Open $SPX July 3rd 5475/5505-5510/5540 condors for 10.05, IV 11.16%
Low premium due to a short day. Overnight action was in a pretty small range. May or may not close before 9:45/10:00 data release. Market closes at 1pm ET.
TQQQ,
STO August 16, 70 puts at 2.14
SPX
Early roll since it feels a little weak. Going out to Friday and down a couple strikes for nice credit. (cue up the rally! LOL)
Rolled SPX Jul 02 2024 5470.0 Puts to Jul 05 2024 5460.0 Puts @ 4.75 credit (20.40 total now)
SPX 0-dte trades 7/2
#SPX0dte I placed a trade last night around my usual time when I shouldn’t have. The move from the close to 9pm PT was downward, and I want to place this trade only if that move is mostly flat. But I had been encouraged by the resilience of the premium lately so I placed it anyway.
At 12:28am ET, sold to open $SPX July 2nd 5435/5465-5470/5500 condors for 15.478
The downward move continued and premium maxed at 18.75 at around 7:53am. We bounced enough and I just closed for 15.30, so breakeven after commissions. The resilience saved me but my condor is too off-center to risk going into Powell’s speech and JOLT release. I will consider possibilities after 10am.
TQQQ,
BTC July 5, 55 puts at .01, It would have expired at zero but for .01 cent, I covered early.
TQQQ,
STO August 9, 60 puts at .91cents
TLT
Adding a little.
Sold TLT Jul 19 2024 91.0 Puts @ 1.30
SPX
Early roll today. Be out most of the afternoon.
Rolled SPX Jul 01 2024 5475.0 Puts to Jul 02 2024 5470.0 Puts @ 1.75 credit (15.65 total now)
SPX 0-dte trades 7/1
#SPX0dte Sold to Open $SPX July 1st 5445/5475-5480/5510 condors for 16.05, IV 13.25%, at 12:26am
Earnings 7/1 – 7/5
Barely worth posting, but for the sake of consistency…
Economic Calemdar 7/1 – 7/5
Actually a fair amount of data coming in the Holiday week.
OptionsExpiration
EXPIRED:
BMY 43.5 Covered Call
BMY 44 Covered Calls
BMY 44.5 Covered Call
BMY 45 Covered Call
CVS 64 Covered Call
GILD 69 Covered Call
WBA 20.5 Covered Calls
SQQQ 9 Covered Call
PARA 11.5 Covered Call
VFC 15 Covered Call
VXX 13 Covered Calls
NVDA 102 Put
WBA 11.5 Put
GME 18 Put
UPS 128 Put
AAP 60 Put
SQQQ 8 Put
BOIL 15.5 Put
NUE 146/149 Bull Put Spread
UPS 129/132 Bull Put Spread
CMG 61.9 Diagonal Put
GME 19/21/31/40 Short Iron Condor
GME 23 Diagonal Put
GILD 74/70 Bear Call Spread
TSLA 177.5/187.5/210/220 Short Iron Condor
SBUX 70/77 Bull Put Spread
SPY 533/541/549/550 Short Iron Condor
ASSIGNMENTS:
None
VIX
Lottery ticket for a possible sh*t show between election day and inauguration day.
Bought VIX Dec 18 2024 20/30 Bull Call Spreads @ 1.06
TQQQ,
STO August 9, 60 puts at .71 and August 16, 60 puts at .95
SPX
Roll to Monday and up to just inside the expected move.
Rolled SPX Jun 28 2024 5465.0 Puts to Jul 01 2024 5475.0 Puts @ 5.25 credit (13.90 total now)
VXX long term puts
Bought VXX Jan 17 2025 5.0 Puts at $0.04.
#VXXContango
Picked the right day
What a day to skip for a neutral trader. Overnight was UP, and after a brief pullback before the open, we’re now at all-time highs again. This week’s $9+ profit made up for my past 5 losing and breakeven weeks, so I was comfortable skipping today. Fridays have been bad to me this year so happy to skip this one. Hoping for a few days of opportunities on the holiday week before next Friday’s job report.
TQQQ,
My $46 puts will expire at zero today.
USOY
#dividends
announced div today
Ex day is 7.1.2024 /$1.23 per share
BOT USOY @19.81989
NVDA
One add.
Sold NVDA Aug 16 2024 105.0 Put @ 2.00
SPX
I may regret this this but with weak premium next week staying aggressive tomorrow with the extra juice available.
Bought to Close SPX Jun 27 2024 5455.0 Puts @ .65 (sold for 34.10)
Sold SPX Jun 28 2024 5465.0 Puts @ 8.65
MMM Stock
Sold part of my tiny position in MMM at 104.01.
#FormerFakkingKnife
SPX 0-dte trades 6/27/24
#SPX0dte Sold to Open $SPX Jun 27th 5445/5475-5480/5510 condors for 13.559, IV 15.23%, at 8:53 ET.
SPY Expiration
1 SPY 06/26/2024 542.00 Diagonal Put. Sold at $0.26
TSLA Calls
Sold 1 TSLA 06/28/2024 220.0/210.00 Bear Call Spread at $0.27 Credit
COIN META MSFT TTD Calls
$COIN STO 6/28 235 calls at 1.57
$META STO 6/28 520 calls at 1.82
$MSFT STO 6/28 457.5 calls at .68
$TTD STO 6/28 101 calls at .23
SPX
Not much happening today. Straight roll to tomorrow.
Rolled SPX Jun 26 2024 5455.0 Puts to Jun 27 2024 5455.0 Puts @ 6.00 credit (34.10 total now)
SBUX CMG Puts – GILD Calls
Sold 1 SBUX 06/28/2024 70.0/77.0 Bull Put Spread at $0.12 Credit
Sold 1 CMG 06/28/2024 64.0/64.4 Bull Put Spread at $0.17 Credit (first day of post split strikes)
Sold 1 GILD 06/28/2024 75.0/70.0 Bear Call Spread at $0.34 Credit
SPX 0-dte trades 6/26/24
#SPX0dte Sold to Open $SPX Jun 26th 5440/5470-5475/5505 condors for 14.55, IV 15.28%, at 8:12am ET
UPS Puts
Sold 1 UPS 06/28/2024 129/132 Bull Put Spread at $0.36 Credit
Just prior to FEDEX earnings
SPX
Feels like it wants to drift lower. Rolling early on the little bounce. Out a day and down another strike.
Rolled SPX Jun 25 2024 5460.0 Puts to Jun 26 2024 5455.0 Puts @ 3.40 credit (28.10 total now)
SPX 0-dte trades 6/25/24
#SPX0dte Last night at 12:13am ET, sold to open $SPX Jun 25th 5425/5455-5460/5490 condors for 15.723. Didn’t get much decay overnight… price was 15.30 around 8am when structure was very close to centered ATM. But since then, it has dropped to 14.00. Considering when to exit.
This demonstrates how little decay there is overnight and that it really starts in earnest after 8am. Overnight risk may not be worth it, even if probability of stop-out is low.
NVDA
One add.
Sold NVDA Aug 16 2024 105.0 Put @ 3.45
Options Bistro 