Rolled all but 1 of my TLRY short puts to next week.

Also put on some bear call spreads to lessen the pain a bit.

Sold 02/26 26.0 Calls @ 27.0 Calls while buying April 70 calls to hedge.

Either my remaining put will expire or the calls will and I’ll roll what I need to tomorrow afternoon.

Up 33 % and Hit 31.16

Sold AMC Feb 26 2021 6.5 Puts @ 0.10 & AMC Feb 26 2021 6.0 Puts @ 0.05 against some left over Jun 2.0 long puts I already own.

Also Sold Feb 26 2021 8.0 Calls while buying AMC March 26 12.0 Calls @ 0.02 Credit.

So I have 6.0/8.0 and 6.5/8.0 short strangles expiring tomorrow.. Waiting to see what kind of opening we get Friday.

Bought to open VXX Mar 26 2021 32.0 Calls / Sold to Open VXX Mar 05 2021 20.5 Calls @ 0.07 Credit.
VXX is at 16.65.

I’ve already rolled most of my short puts to next week (way to early) but I’m liking my chances that my short VXX 02/26/2021 15.0 Puts will expire. That didn’t look likely this morning.

Despite the 30% move in the VIX today I am still expecting all my short VXX Calls for this week to expire tomorrow or be covered at a penny.
So I’m tiptoeing into next week’s expiration.
Bought to open VXX Mar 26 2021 32.0 Calls / Sold to Open VXX Mar 05 2021 19.0 Calls @ 0.04 Credit.

Once I start covering this week’s calls to free up some buying power, I’ll be selling more for next week.

VXX at 16 right now

Bought to close UVXY Feb 26 2021 9.0 Puts at $0.51. Sold these @ 0.63 last Friday.
Sold to Open UVXY Mar 05 2021 8.5 Puts @ 0.56 to replace them.

Bought to open SPY Mar 24 2021 350 Put / Sold to Open SPY Mar 05 2021 377 Put @ 0.07 Credit.
I’ve been rolling a SPY 377 short call forward every few days for a while, so this is an offset to that.
Gives me an Iron Condor at that strike price.

Hit 200 dollars after hours

Up 46 points
Here we go again 🙂

From Barrons:
The key inflection point in the GameStop saga last month — when brokers suddenly limited trading in the stock — could have been avoided if the systems designed to settle trades moved faster , according to Robinhood’s Vlad Tenev . Now, the CEO of the online broker may get his wish, at least partially.
The Depository Trust & Clearing Corporation (DTCC) announced on Wednesday that it expects to be able to shorten the time between when a trade takes place and when it is finalized — known as settlement — to one day from two. The DTCC is the most powerful clearinghouse in the market, and serves as a hub where buyers and sellers go to finalize and record their trades.
Robinhood, which relies on a subsidiary of the DTCC called the National Securities Clearing Corporation (NSCC) to clear its trades, stopped all buying in shares of GameStop (ticker: GME), AMC Entertainment (AMC) and other stocks on January 28 . Other brokers also placed limits on some transactions. Shares of the impacted companies mostly fell that day and some did not regain their prior highs afterwards. Investors blamed the brokers — and Robinhood in particular — for the shift.
Robinhood said that it was forced to take drastic action because of demands from the NSCC for more capital. Brokers need to deposit capital with their clearinghouses in case there’s some problem during the trade-settlement process. During the GameStop frenzy, those deposit requirements rose because of the large amounts of shares being traded and leverage being used. Robinhood deposited $124 million on January 25 , but the NSCC asked for $3 billion on Jan. 28 , Tenev said in testimony for a congressional hearing last week. The deposit requirement eventually fell to $1.4 billion that day, Tenev said, but Robinhood’s operations were impacted for days, with limits placed on buying and options.
At the hearing, Tenev said that he thinks the best way to solve this issue is to reduce the time to settlement to zero. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” he said. The DTCC said it cannot comment on the Robinhood episode.
However, the DTCC has been working for years on shortening the time from trade to settlement — and in 2017 reduced that time span to two days from three. DTCC executives now say they can get to T+1, or finalizing a trade one day after it takes place, within two years — which could allow the DTCC to reduce margin requirements on brokers and other market participants.
The delay between when a person hits “Buy” on an investing app and the trade being fully recorded has less to do with technology and more to do with industry practice and risk management. The DTCC says it has the technology to move to one-day or possibly even same-day settlement right now, but that it will depend heavily on the various parties that use its system to sign on.
The delay between trades and settlement also serves a purpose, and reducing that time could impact other processes. For instance, investment firms that trade one stock multiple times during a day tend to net those trades at the end of the day. That way, they don’t have to go through the same process for each trade. Making sure all of those trades are settled and financed in real time, or in a very short period, would likely be impossible given current market dynamics.
The DTCC has been experimenting with blockchain technology to clear and settle trades. Some of today’s processes could theoretically be automated under that system, which would store trading data in encrypted files and allow market players to hook into the database. But blockchain tech isn’t fast enough to keep up with the current volume of trading. The DTCC is working on a prototype of a system, dubbed Project Ion, that could one day put clearing and settlement on a blockchain.
For now, the DTCC expects to be able to move forward with its current technology. One client is already weighing in.
“T+1 is a welcome stepping stone to real-time settlement,” Tenev said in reaction to the DTCC announcement. “We look forward to working with lawmakers, regulators and the industry to make this a reality.”

05:53 AM EST, 02/24/2021 (MT Newswires) — Straddle prices for stocks expected to report quarterly results this week
Airbnb (ABNB) February weekly 187.50 straddle priced for a move of 12% into the expected release of quarterly results after the bell on Feb. 25.
AMC Entertainment (AMC) February weekly 7.5 straddle priced for a move of 22% into the expected release of quarterly results on Feb. 25.
Best Buy (BBY) February weekly 115 straddle priced for a move of 6% into the expected release of quarterly results before the bell on Feb. 25.

Some of the best credit investors we know always look at stock dividend yields vs. the company´s ten year corporate bonds. Interesting data here. These are the top 30 S&P 500 dividend yielders, but we also show their cost of debt. Many of the top dividend payers in the S&P are paying out much more than their cost of debt (average bond yield) and many of them have strong balance sheets as well. The top 3 highest spreads of dividend yield cost of debt are 1. Altria 2. Exxon Mobil and 3. AT&T. This speaks to how cheap true value names are.

Since I have been rolling a SPY short 377 Call forward for a few weeks I decided to take a chance on a 377 Put as a partial offset
Bought to Open 1 SPY Mar 15 2021 350 Put / Sold to Open 1 SPY Feb 26 2021 377 Put @ 0.06 Credit.
The short side is gone by Friday.
The long side is disaster protection and allows for a roll or rewrite of a new short.

Rolled today’s 385 Call to Wednesday’s 386 Call @ 0.06 Credit
Rolled today’s 386 Call to Wednesday’s 387 Call @ 0.42 Credit
Rolled today’s 387 Call to Wednesday’s 389 Call @ 0.12 Credit (now OTM for the moment)

Tanking – down 50

https://www.zerohedge.com/markets/tesla-unexpectedly-halts-sales-standard-range-model-y-without-explanation

Sold VXX 02/26/2021 18.00 Diagonal Calls @ 0.30
Sold VXX 02/26/2021 18.50 Diagonal Calls @ 0.26.
VXX opened at 15.60.

Balances out my put exposure a bit