#SPX7dte Sold to close $SPX Dec 30th 3715/3735 call spreads for 19.65. Condors bought for 15.45 last Wednesday.
Recent Updates Page 166
VXX Contango Special
Another one:
Bought to open VXX Jan 21 2022 6.0 Puts / Sold to Open VXX Jan 08 2021 16.0 Puts @ 0.12 Credit.
Short DTE = 9 (includes the holiday weekend)
Long DTE = 387
VXX at 17.05.
#VXXContango special.
GILD
Extending my Put ladder.
Bought to open GILD May 21 2021 40.0 Put / Sold to Open GILD Jan 15 2021 55.0 Put @ $0.37 Credit.
I’ve got some 56.50 and 57.00 puts expiring tomorrow that I’ll have to deal with.
BTW: new YTD low today @ 56.56. The only SP500 stock to hit a new low today.
SPX 1-dte
#SPX1dte Sold to Open $SPX Dec 31st 3650/3670-3770/3790 ieron condors for 1.10, SPX at 3731, IV 13.0%, deltas -.08,+.08.
TQQQ Diagonal
Bought to open TQQQ Feb 19 2021 90 Put / Sold to Open TQQQ Jan 08 2021 155.0 Put @ $0.32 Credit.
I’ve got a 150/190 short diagonal strangle expiring tomorrow and will have a chance to write more of these puts later on against the leftover January monthly longs.
VXX Contango Special
Bought to open VXX Jun 18 2021 9.0 Puts / Sold to Open VXX Jan 08 2021 16.0 Puts @ 0.08 Credit.
Short DTE = 9 (includes the holiday weekend)
Long DTE = 170
VXX at 17.25.
#VXXContango special.
VXX Puts – taking a gain
Liquidating the long side of some old spreads while there is still some profit there.
Sold to close VXX Jan 15 2021 $16.0 Puts @ 0.65. Average cost into the position was $0.55.
These were purchased as part of some diagonal put spreads in late summer and early October. I’ve lost count how many times I written against them but it’s a lot.
(Calculus involved in this exit = will VXX be below 15.35 in two weeks? Inquiring minds want to know)
#shortputs CHWY Sold Feb. 19,…
#shortputs CHWY
Sold Feb. 19, 75 put for 1.74, stock at 93, up 2.65 or so, was at 108 on the 22nd, earnings in March.
SPX 7-dte
#SPX7dteLong Bought to Open $SPX Jan 4th 3710/3730/3740/3760 iron condors for 14.25, with SPX at 3733. I meant to buy Jan 4th yesterday, but I instead bought Jan 6th. So I’m doing the 4th today, even though it’s only two trading days away. Come get me.
TQQQ, STO January 29, 115…
TQQQ, STO January 29, 115 puts at 1.31
SPY Rollup
Bought to close 1 SPY Dec 30 2020 369.0 Call / Sold to Open 1 SPY Jan 06 2021 371.0 Call @ 0.70 Credit.
Added 2 points to the short strike.
NEO Puts / BIDU CC Roll
#shortputs
$NEO STO 1/15 50 puts at .80
#coveredcalls
$BIDU BTC 1/8 210 call and STO 1/15 215 call at added credit of .40 and gain $5 if assigned. Stock at 217.45
LAZR
Keep an eye on this one. Still 50 IVR on an IV of 136. After a ridiculous 4x plus move in Nov., it seems to be “consolidating” somewhat. Hard to call a 10% intraday move part of consolidation. But thing sure does move!
ZM
#ShortPuts – Pulled back nicely. Selling below the 200 day and just outside the expected move. Should have at least 3 roll opportunities before earnings. May add a call side sale on a bounce…
Sold ZM JAN 29 2021 295.0 Put @ 5.10
NIO
Sorry, should have posted these as they occurred.
121/29 STO 40 put for 1.07
today BTC 40 p for .53, then Bought NIO at 46.1 & STO 15 Jan CC for 1.01
CB 44.46, basically breakeven
SPCE’ed out.
BTC SPCE Dec-31-2020 $30 #ShortPuts @5.80. Was STO @5.88.
End of year Risk Reduction, buying power regained, basically break-even on this round after covering fees.
TQQQ, BTC December 31, 125…
TQQQ, BTC December 31, 125 puts at .02, sold at 1.45
SPY
Hi folks. I’m new to the bistro, but I’ve been tinkering with options trading for awhile, and I finally decided to start posting some of my trades in case anyone is interested.
This one is a bearish put butterfly that makes money if SPY pulls back. It also would have been profitable if SPY had gone nowhere after I put it on, but the market has been slowly climbing and now it’s nearing its upper expiration breakeven strike. If I were putting this on today I would use higher strikes, so that the trade would be reasonably profitable even if SPY expired right where it is now.
Currently, the position is showing a loss of $89. If SPY continues on up to the point where my loss reaches $250, I will add another butterfly at higher strikes to widen the tent. I will also try to avoid dealing with expiration week gamma by planning to close the week before if I can get any kind of decent profit.
Edit: Thanks to Hawk’s questions, I changed the plan for adjusting if SPY continues up. See the comments below.
Here’s the position:
#Bearish Butterfly
SPY Jan 15th (Monthly)
334 / 357 / 380 Put Butterfly BTO for 7.20
Max Profit $1580, Target Profit $500
Max Loss $720, “Take Action” Loss $250
I’ll update as I manage or close the position. If any of you are experienced butterfly traders I would appreciate any advice! Thanks!
FDX CC / VXX Rolled
#coveredcalls
$FDX STO 12/31 265 call at .80
#shortputs
$VXX BTC 12/31 20.50 put and STO 1/8 20 put at even
VXX Put Rolls
Using the almost 1 point move up in VXX to bring in more cash and improve the strike prices on a few, for one more week.
Bought to close VXX 12/31/2020 22.50 Puts / Sold VXX 01/08/2021 22.50 Puts @ 0.23 Credit.
Bought to close VXX 12/31/2020 21.50 Puts / Sold VXX 01/08/2021 21.50 Puts @ 0.33 Credit.
Bought to close VXX 12/31/2020 20.50 Puts / Sold VXX 01/08/2021 20.00 Puts @ 0.05 Credit plus a 0.50 lower strike.
Bought to close VXX 12/31/2020 20.00 Puts / Sold VXX 01/08/2021 19.50 Puts @ 0.10 Credit plus a 0.50 lower strike.
(This is the first chance to rolldown VXX in the money Puts that I’ve seen in a couple of weeks)
VXX Calls
Since there are no decent premiums for this week, selling some for next week.
Sold VXX Jan 08 2021 23.0 Calls from $0.25 up to $0.35.
Sold VXX Jan 08 2021 24.0 Calls from $0.22 up to $0.27.
Sold VXX Jan 08 2021 25.0 Calls from $0.19 up to $0.25.
VXX topped out at 17.76 so far today.
TQQQ, BTC December 31, 130…
TQQQ, BTC December 31, 130 puts at .02, sold at 3.50, I am still waiting to get filled on more positions for this week.
QS
#ShortPuts – Out yesterday and back in today…
Sold QS JAN 15 2021 60.0 Put @ 2.20
SQ Feb
Sold $SQ 2/19 180 put @ 5.00
SPX 7dte
#SPX7dteLong Bought to Open $SPX Jan 6th 3705/3725-3735/3755 iron condors for 17.05, with SPX at 3730.
TSLA
BTC on GTC order at 50% of max profit….TSLA 19 FEB21 425 PUT @4.95 with the stock @ 666.69….This was STO on 12/22 @10.25….#ShortPuts
PLTR WIX MARA VLO CC / MRVL Put
#coveredcalls
$PLTR STO 12/31 26 call
$WIX BTC 1/15 290 call and STO 1/15 280 call at 1.40 added credit
$MARA STO 1/15 14 call at 1.60
$VLO BTC 12/31 58 call and STO 1/8 56.5 call at .95 added credit
#shortputs
$MRVL STO 1/8 46 put at .70
LABU
#ShortPuts – Welcome back to the game ol’ buddy. Starter position outside the expected move and down at the 200ma and lowest available strike. Hope to add…
Sold LABU FEB 19 2021 60.0 Put @ 2.10
Closing DOCU
Bought to close $DOCU 1/15 185/195/260/270 iron condor @ 1.23. Sold for 2.95 on 12/9.
SPX trades
#shortputspread TTD Sold Jan. 15,…
#shortputspread TTD
Sold Jan. 15, 795/800 for 1.45. TTD is at 841, down about 80 today.
NVDA TSLA
#ShortPuts – A little risk reduction…
Bought to Close NVDA JAN 08 2021 475.0 Put @ 1.80 (sold for 5.00)
Bought to Close TSLA JAN 08 2021 500.0 Put @ .97 (sold for 4.90)
Dec 31 $3250 Call Vertical Roll to $3310, $60 increase in strike price, Debit $33.48 Stock at $3312
DKNG CC
#coveredcalls
$DKNG STO 1/15 55 call at 1.35
#fallingknifeLAZR STO 15 Jan BuPS…
#fallingknifeLAZR
STO 15 Jan BuPS 30/25 for 2.50
WBA Covered Call
Sold 1 WBA 01/08/2021 41.0 Covered Call @ 0.69.
Replaces a similar call that expired Friday.
COUP Put Closed
#shortputs
$COUP BTC 12/31/280 put at .05. STO on 12/8 at 5.20. Thank you @fuzzballl
#fallingknifeOSTK put roll BTC 8…
#fallingknifeOSTK put roll
BTC 8 Jan 52.5P, STO 22 Jan 51.5 for 1.15 credit
MSFT TQQQ LAZR RIOT Puts Closed / RIOT Put
#shortputs
$MSFT BTC 12/31 210 put at .10. STO at 1.30 on 12/16
$TQQQ BTC 1/15 80 put at .15. STO at 2.02 on 11/19 Thank you @jsd501 and @fuzzballl
$TQQQ BTC 12/31 142 put at .12. STO at 1.45 on 12/18 Thank you @jsd501
$LAZR BTC 1/15 20 put at .20. STO at 1.53 on 12/8 Thank you @fuzzballl
$RIOT BTC 1/15 7.5 put at .10. STO at 1.13 on 12/9
$RIOT STO 12/31 15 put at .55.
#coveredcalls OMC Sold Jan. 15,…
#coveredcalls OMC
Sold Jan. 15, 65 call for .90. Bought 100 shares on Dec. 15 for 63.71 for the .65 dividend.
TDOC
#ShortPuts – Back in at recent lows and at least 3 weeks before earnings…
Sold TDOC JAN 22 2021 180.0 Put @ 3.70
#closing #shortstrangles #shortputs DKNG FCEL…
#closing #shortstrangles #shortputs DKNG FCEL
DKNG Dec. 9, sold Jan. 15, 40/65 strangle for 2.10. bought today for .62
FCEL Dec. 2, sold a Jan. 15, 5.5 put for .73, bought today for .14
QS
#ShortPuts – I’ll take the quickie…
Bought to Close QS JAN 8 2021 60.0 Puts @ .50 (sold for 2.30)
#fallingknifeDKNG Perhaps not a “falling”…
#fallingknifeDKNG
Perhaps not a “falling” knife, more of a stumble.
STO BuPS, 5 Feb, 48/45 for 1.25
BA, BTC February 200 put…
BA, BTC February 200 put at 7.95, sold at 8.33, Just reducing risk.
NFLX Iron Cockroach
NFLX @ $509.
STO NFLX Jan 22, 510 / 520 Call credit spread + 505 / 485 Put credit spread @$13.10 credit for the combo.
Downside max loss $6.90 ($20 spread width – $13.10 credit received). Downside breakeven NFLX @ $490.
No risk to the upside – keep ($13.10 – $10.00) $3.10 residual credit.
TWLO, BTC, January 15, 240…
TWLO, BTC, January 15, 240 put at .31, Sold at 5.40, Minervini thinks the market is too frothy and I agree. Not that my opinion really counts. A lot of breakouts are not working so I want to be cautious.
#coveredcallsCCL ROLLED 15 Jan 25…
#coveredcallsCCL
ROLLED 15 Jan 25 call to 19 Feb 27.5 call for .38 credit
Cost basis now 18.03
Stock at 21.88
AAL Covered Call
Sold 1 AAL 01/08/2021 17.00 Covered Call @ 0.45.
This replaces the 17.0 Call that expired Friday.
Opening Transaction PTON BuPS Credit $1.32, Stock at $58.20
GILD Put Ladder
Keeping my Put Ladder running.
Sold to Open 1 GILD Jan 08 2021 55.5 Diagonal Put @ $0.52.
Replaces a GILD 56.50 Put that expired Friday.
#DoubleDip
TQQQ
Sold to Open TQQQ 12/31/2020 195.00 Diagonal Calls @ 0.35.
Replacing the short 185.00 Diagonal Calls that Expired Friday and paired with short 150.00 Puts sold Friday.
#DoubleDip
COUP, BTC January 15, 240…
COUP, BTC January 15, 240 put at .25, Sold at 2.65
Assigned on EW Covered Call
Not sure it was the right time to let the shares go…..but had to manage margin creep up do to “roll ups” on Friday.
https://coveredcallswithjeff.wordpress.com/2020/12/28/assigned-on-ew-covered-call-profit-of-3498-in-63-days-roi-of-8-8-or-51-annualized/
Merry Christmas trading friends, advisors…
Merry Christmas trading friends, advisors and mentors!
Happy Holidays to All the…
Happy Holidays to All the Bistro Members
GILD Ladder Rolldown
Bought to close GILD 12/24/2020 57.00 Put @ 0.02
Sold to Open GILD 01/08/2021 56.00 Put @ 0.66.
MRO
Missed this fill from yesterday
Sold MRO 01/08/2021 7.50 Covered Calls @ 0.14
SPY – New Diagonal
Replacing the short positions that expired yesterday
Bought to Open SPY Jan 29 2021 385 Call / Sold to Open SPY Dec 28 2020 368 Call at $0.12 Credit.
SPX trades
#SPX1dte Sold to Open $SPX Dec 28th 3595/3615-3745/3765 iron condors for 1.00, SPX at 3696, IV 9.2%, deltas -.06,+.06
#SPX7dte. Forced to take a break here with too many losses eating in to what had been a 45% annualized strategy. I did not buy one for next Thursday.
Today’s flirting with expiring in dead zone. Looks like I will get some on call side.
TQQQ PUT Closed
#shortputs
$TQQQ BTC 1/15 90 put at.30. STO at 2.50. Thank you @jsd501
TQQQ,
In my IRA, BTC December 24,155 puts at .01, SOLD at 17.50 and,
In the trading account, BTC 153 puts at .02, Sold at 1.02
That is it for this week. Have a nice holiday to everyone.
BABA
BABA is down today 15% on the news.
TQQQ Roll
Closed the Put side of my strangle and rolled down.
Bought to Close TQQQ Dec 24 2020 155 Puts at $0.01. They won’t trade any lower.
Sold these at a average price of $1.04.
Part of my #BoredToDeathTrade from last Thursday and Friday.
Sold to Open TQQQ Dec 31 2020 150 Puts at $0.54.
SPY Roll
Bought to close 1 SPY Dec 24 2020 367 Call at $0.95 – Sold on 12/22 @ $2.04
In it’s place Sold to Open 1 SPY Dec 30 2020 369 Call at $1.72 for a Net Credit of $0.77 and a 2 point higher short strike.
Merry Christmas
All the best to the best premium selling site around.
@jeffcp66 you are awesome and your members are terrific.
Wanted to get this out early before the snowflakes from the site cover my keyboard.
LAZR
#ShortPuts – Just to get a weekly in. Let’s call it a #TakeOneForTheTeam type of trade. LOL
Sold LAZR JAN 8 2021 28.5 Puts @ 1.80
VLDR
#ShortPuts – Back in this one.
Sold VLDR JAN 15 2021 20.0 Puts @ 1.00
Sidenote: LAZR has weeklies now which is nice. 🙂 🙂
TWTR BuCS
BTO 15 Jan 21, 53/57.5 call spread for 2.05
And a MERRY CHRISTMAS to the Bistro!
TQQQ, BTC December 24, 135…
TQQQ, BTC December 24, 135 put at .01, sold at 2.60
ZM
FYI
ZM dropped about 6% today.
Possible reason is that one of the ZM employees got charged by US government for sharing private data with the Chinese government.
We received a notice at work from one of our suppliers about data security issue.
AMZN BUPS / NNDM Put
#bups
$AMZN STO 1/15/2021 3090/3100 BUPS at 3.16
#shortputs
$NNDM STO 1/15/2021 7.50 put at .52
Options Expiration
1 SPY 12/23/2020 370.0 Diagonal Call – Sold @ 1.15
1 SPY 12/23/2020 372.0/385.0 Bear Call Spread – Sold for a net Credit of 1.07
TQQQ
#ShortPuts – Got about 70 percent of max so taking them here…
Bought to Close TQQQ JAN 8 2021 115.0 Put @ .46 (sold for 2.25)
Bought to Close TQQQ JAN 15 2021 105.0 Put @ .57 (sold for 2.00)
Bought to Close TQQQ JAN 15 2021 110.0 Put @ .73 (sold for 2.45)
Bought to Close TQQQ JAN 22 2021 100.0 Put @ .88 (sold for 2.30)
Bought to Close TQQQ JAN 22 2021 105.0 Put @ 1.00 (sold for 2.45)
SPX 1 dte
#SPX1dte Skipping a trade for tomorrow’s half day, since premium is low and things in Washington are uncertain.
Expiring: $SPX Dec 23rd 3585/3605-3730/3750 condors, sold yesterday for 1.10.
Options Bistro 