Decided to roll this instead of taking assignment. The EX Dividend date is not until December so no need to commit the cash just yet.
Bought to close GILD 11/06/2020 60.0 Put / Sold GILD 12/04/2020 58.0 Put @ 0.25 Credit and lowered the short strike 2 points.
Made money on the short 60 put too.
Recent Updates Page 175
LABU
#ShortPuts – Peeling a few more of these off after another big run…
Bought to Close LABU NOV 20 2020 40.0 Put @ .20 (sold for 1.55)
Bought to Close LABU NOV 27 2020 35.0 Put @ .15 (sold for 1.29)
Bought to Close LABU DEC 04 2020 35.0 Put @ .29 (sold for 1.65)
VXX – one last roll
Bringing in $CASH. Buying more time.
Bought to close VXX 11/06/2020 21.0 Diagonal Puts / Sold VXX 11/13/2020 19.50 Diagonal Puts @ 0.01 Credit plus 1.50 points better on the short strike..
When VXX was 27.00 on Monday I never would have believed I would have to roll this position.
Done with VXX rolls for this week.
And I’m just waiting for my remaining VXX Diagonal Calls to expire in an hour.
ADS Roll
Bought to close ADS 11/06/2020 55.0 Calls / Sold ADS 11/13/220 55.0 Calls @ 0.35 Credit
Last ADBE adjustment
Rolled $ADBE 11/20 470/460 bull put spread up to 485/475 @ 1.40 credit. After multiple rolls on both sides of this original iron condor, the position has now been adjusted to ultimately become an iron butterfly with total premium collected of 7.30. With wing widths of 10 points, that leaves the max loss at 2.70 which I am okay to sit with through expiration. I will probably put a GTC order in probably for somewhere around 7.00 to get out of this wild garden hose of a trade for near breakeven.
PTON TQQQ LULU
BTC TQQQ Nov-20-2020 80.90 #BuPS@0.14. Was STO 10/28 @1.56.
Roll-up PTON Nov-20-2020 110 #CoveredCall // Nov-20-2020 125 #CoveredCall @10.25 debit ( 15$ better strike)
Expiring (unless the bottom drops out of athleisure wear the next hour & 1/2) LULU Nov-6-2020 285/295 #bups
Thats the last of my rolling LULU positions for the time being. Couple downs with the ups, but basically 2x’d my original capital in ~6mo.
KSS Covered Calls
Bought to close KSS 11/06/2020 23.0 Covered Calls @ 0.01. It won’t trade any lower. Sold last Friday @ 0.43.
Replaced them with KSS 11/13/2020 23.50 Covered Calls @ 0.26
#earnings TTD Up big after…
#earnings TTD
Up big after earnings!
#shortputspread WYNN Sold Nov. 20,…
#shortputspread WYNN
Sold Nov. 20, 70/75 for 1.05
Thanks @fuzzballl for the idea
WBA Covered Calls
Bought to close WBA 11/06/2020 37.50 Covered Calls / Sold WBA 11/13/2020 38.50 Covered Calls @ 0.08 Credit plus a point higher on the option strike price.
Econ Calendar for week of 11/9/20
#FOMC Jerome Powell speaks Thursday morning.
SPY Roll
Bought to close 1 SPY Nov 06 2020 345 Diagonal Call / Sold to Open 1 SPY Nov 11 2020 348 Call @ 0.02 Net Credit plus a 3 point bump in the short strike.
SPY @ 349.59
COST – Unbalanced Condor
COST @ $384
BTO 1 x COST Nov 20: $385 /$380 long PUT Vertical @ $ 2.45 debit
STO 2 x COST Nov 20: $375 / $370 short PUT Vertical @ $1.22 credit (x 2)
Total debit of $0.01 for the unbalanced Condor. Downside breakeven is around $372. No risk to the upside.
FTCH Puts
$FTCH STO 11/20 38 put at 2.00
VXX – more rolls
Bringing in $CASH. Buying more time
Bought to close VXX 11/06/2020 22.0 Diagonal Puts / Sold VXX 11/13/2020 21.0 Diagonal Puts @ 0.04 Credit.
Bought to close VXX 11/06/2020 21.5 Diagonal Puts / Sold VXX 11/13/2020 20.5 Diagonal Puts @ 0.12 Credit.
Dropped the strikes a full point.
I’m still holding out hope that my 21.0 puts can expire
TDOC
#ShortPuts – Bought to Close TDOC NOV 6 2020 197.5 Put @ .05 (sold for 2.20)
VXX
Bought to close VXX 11/06/2020 28.0 Diagonal Calls @ 0.01 to release some margin. They won’t trade any lower.
Sold last Friday on a rollup @ 1.48.
Bought to close VXX 11/06/2020 26.50 Diagonal Calls @ 0.01 to release some more margin. They won’t trade any lower.
Sold last Friday on a rollup @ 2.18
Rolled some Puts down for next week:
Bought to close VXX 11/06/2020 23.0 Diagonal Puts / Sold VXX 11/13/2020 22.50 Diagonal Puts @ 0.17 Credit.
Paired off with long Jan strike 15 and 16 puts.
Bought to close VXX 11/06/2020 22.50 Diagonal Puts / Sold VXX 11/13/2020 22.0 Diagonal Puts @ 0.22 Credit.
Paired off with long Jan strike 15, 16 and 17 puts.
TSLA
#ShortPuts – Throwing an aggressive one out to have something for next week…
Sold TSLA NOV 13 2020 405.0 Put @ 5.70
October Jobs Report
#Jobs — higher than expected
“October’s growth brings the total payroll gains since May to around 12 million, though that still leaves unfilled about 10 million positions lost in March and April.” -CNBC
Gain of +638,000 non-farm payroll jobs, vs. expected 530K gain
Unemployment at 6.9%, down by 1.0%, vs. expected 7.7%
U6 unemployment at 12.1%, down by 0.7%
Labor force participation 61.7%, up by 0.3
Sept jobs revised up by +11K to +672K
August jobs revised up by +4K to +1.493M
WYNN Earnings
#BullPutSpreads – Whiz has been starting to lean a little bullish on the casinos so selling aggressively here. Either make a little or get stock at a decent basis if it tanks.
Sold WYNN NOV 6 2020 85.0/80.0 Bull Put Spread @ 3.40
SPX 1-dte
#SPX1dte Sold to Open $SPX Nov 6th 3400/3420-3600/3620 iron condors for 1.25, SPX at 3518, IV 23.28%, deltas -.07,+.05.
Slightly bullish from a delta perspective, I’m throwing caution to the wind with employment announcement and ongoing election counts.
NVDA
#ShortPuts – Another one that seems to be up against resistance. Had to roll both of these last week so happy to take ’em off here. Looking out to earnings on the 18th with a clean slate.
Bought to Close NVDA NOV 13 2020 512.5 Put @ 1.38 (sold for 3.90)
Bought to Close NVDA NOV 13 2020 500.0 Put @ .77 (sold for 3.90)
SNOW
#ShortPuts – Selling near the all time low and outside the expected move…and two weeks before earnings.
Sold SNOW NOV 20 2020 230.0 Put @ 2.80
BABA
#ShortPuts – Selling down near the 200ma and outside the expected move. Stock down slightly on earnings…
Sold BABA DEC 11 2020 250.0 Put @ 3.35
NFLX
#ShortPuts – Sold Friday on the big down day. Taking it a couple weeks early…
Bought to Close NFLX NOV 20 2020 425.0 Put @ 1.30 (sold for 6.61)
LABU SPY
#ShortPuts – I’ll take ’em early here after the big run…
Bought to Close LABU NOV 13 2020 40.0 Put @ .10 (sold for 1.43)
Bought to Close SPY DEC 04 2020 280.0 Put @ .51 (sold for 3.17)
Bought to Close SPY DEC 11 2020 275.0 Put @ .63 (sold for 3.20)
Bought to Close SPY DEC 18 2020 270.0 Put @ .75 (sold for 3.45)
VIX futures
Looks much different than the last few months
SPX 7dte
#SPX7dteLong Bought to Open $SPX Nov 11th 3490/3510-3520/3540 iron condors for 17.70, with SPX at 3515.
TSM BWB
Closing out a Nov 20 95 / 90 / 80 Put Broken Wing Butterfly for a credit of $1.05. BTO on Oct 08 for a credit of $1.09. (total credit for the trade $2.14).
TRADES: Sold, now flat following…
TRADES: Sold, now flat following stocks, options because of earnings, tonight, tomorrow A.M., & Monday A.M. All trades were profitable EXCEPT VIAC.
HWM STC STOCK @18.90
HWM BTC 18.0, 19.0,20.0 Short Puts
CZR STC STOCK @55.04
VIAC BTC 11/6/20 31.0 CALLS @.95
VIAC BTC 11/13/20 31.0 CALLS @1.22 Lost 232 dollars on VIAC TRADES
SPY
#ShortPuts – Could be running up to resistance so booking the higher risk election play…
Bought to Close SPY NOV 20 2020 322.5 Put @ 1.20 (sold for 6.12)
EWZ
#ShortPuts – Taking it on the quick run up…
Bought to Close EWZ NOV 20 2020 25.5 Puts @ .12 (sold for .60)
SPX New diagonal
Taking a leaf out of Iceman’s playbook:
Bought to open 5 SPX Mar 19 2021 3700 Call / Sold to open 5 SPX Nov 20 2020 3525 Call @ 27.25 Debit.
The short 3525 Nov calls roll to the Mar 19 3700 calls for a $30 credit.
SPY
BTC on GTC order SPY 11/20 332/327…1/2 #PutBackRatio @1.00…..STO 10/9 @3.98…
PTON?
Jeff – Do you have bandwidth to do an earnings analysis for PTON? Should be announcing after the bell tonight.
BIIB
#ShortPuts – Selling at the 50ma and well outside the expected move…
Sold BIIB NOV 13 2020 275.0 Put @ 3.80
VIX collapse continues
Down another 8.5% pre-market
SPX iron condor for Friday
Sold $SPX 11/6 3300/3325/3530/3555 iron condor @ 4.20. Short strikes at 12 delta.
SPXpire
#SPX7dteLong Expiring at max credit of 20:00: $SPX Nov 4th 3335/3355 call spreads. Condors bought for 18.45 last Thursday.
#coveredcalls BOOT Wanting to unload…
#coveredcalls BOOT
Wanting to unload my assigned shares, sold Nov. 20, 35 call for 2.20, shares at 35.80
LABU
BTC LABU 11/27 35 Put @.13…..STO 10/21 @1.28…..Thankyou @fuzzballl
Headline of the day
Google Searches For “Liquor Store Near Me” Hits All-Time High Amid Election Anxiety
SPY Roll
Bought to close 1 SPY Nov 04 2020 338 Diagonal Call / Sold to Open SPY Nov 09 2020 340 Diagonal Call at $0.32 Credit plus two points higher on the short strike
SPY = 346.61
ADBE rollup
Rolled $ADBE 450/440 bull put spread up to 470/460 for 1.12 credit. Part of iron condor with 485/495 bear call spread (which has previously been rolled down). Total premium taken in now 5.91.
LABU UBER #shortputs BTC on…
LABU UBER
BTC on GTC order at the open LABU 11/13 40 Put @.25 sto 10/21 @ 1.45….Thankyou @fuzzballl
BTC on GTC order at the open UBER 11/20 30 Put @ .13 sto 9/17 @ 0.95
BIIB
#ShortPuts – Try a quick scalp outside the expected move. Could be down 100 tomorrow! LOL
Sold BIIB NOV 06 2020 290.0 Put @ 2.50
NVDA
#ShortStrangles – Learned my lesson on BIIB. Playing my other short strangle cautiously since this thing looks to be getting some momentum here.
Was short the 512.5/535 @ 16.10
Bought back short call @ 12.20 and letting the put for next week ride with 3.90 of premium still available. Earnings on the 18th.
BIIB
#ShortStrangles – Wild move with the announcment of the new drug. Have to admit I didn’t know that was in the pipeline. Was short 220 puts against a 315 call (2 puts x 1 call). Closing the short call for safety and letting the short puts ride. Will look for new put sales to make up the difference.
Bought to Close BIIB NOV 6 2020 315.0 Call @ 24.25 (12.30 premium received so loss of 11.95)
NVDA Put Closed
$NVDA 11/6 505 put closed at .65. STO at 9.67. Thank you @fuzzballl
TQQQ
STO November 20, 165 calls at .75 and 1.05 so average cost is .90 and these are covered calls.
AAPL
#ShortPuts – I’ll take the quickie. Only playing for the oversold bounce on earnings…
Bought to Close AAPL NOV 20 2020 110.0 Put @ 1.90 (sold for 5.45)
OSTK
#ShortCalls – Selling against short puts…
Sold OSTK NOV 20 2020 75.0 Calls @ 1.40
TQQQ
#ShortPuts – Completely out of it again…
Bought to Close TQQQ NOV 6 2020 105.0 Put @ .19 (sold for 2.35)
Bought to Close TQQQ NOV 13 2020 90.0 Put @ .34 (sold for 2.50)
Bought to Close TQQQ NOV 20 2020 80.0 Put @ .45 (sold for 2.10)
SPX 7-dte
#SPX7dteLong In pre-market, bought to open $SPX Nov 9th 3400/3420-3430/3450 iron condors for 18.20, with /ES at 3405, which roughly is equivalent to SPX 3414.
VIX collapse
down 13% pre-market
EWZ
#ShortPuts – Sold EWZ NOV 20 2020 25.5 Puts @ .60
SPX 7-dte (-ish)
#SPX7dteLong This is only 3-dte, the shortest period for which I have bought one of these, but volatility has been strong and premium too high, so I’m going with a shorter time frame since market is pretty certain to move this week.
Bought to Open $SPX Nov 6th 3345/3365-3375/3395 iron condors for 18.35, with SPX at 3370.
TQQQ
BTC November 13, 170 call at .15, sold at 1.41, Reduced my risk since this was a naked call.
BIIB Diagonal Put
Bought to Open 1 BIIB Jan 15 2021 180 Put / Sold to Open 1 BIIB Nov 06 2020 220 Put @ $3.00 Net Credit.
Hoping the 3 year low holds for 3 more days . BIIB is at 246
BTW: The put premium for Friday was $6.70
TQQQ
BTC November 6, 105 puts at 1.30, sold at 1.70 just want to reduce risk this week.
VXX
Playing for an eventual VIX collapse back into the 20’s and a return of VXX Contango.
Bought to open VXX 06/18/2021 7.0 Puts / Sold to open VXX 11/06/2020 21.50 Puts @ 0.08 Credit.
Bought to open VXX 06/18/2021 8.0 Puts / Sold to open VXX 11/06/2020 21.50 Puts @ 0.03 Credit.
I don’t think I have to worry about this week but the short can be easily rolled down is VXX drops from 25 to 21.50 by Friday.
btw: my short VXX 33.00 diagonal calls for this week are still trading @ 0.51 with VXX at 24.60.
Insane premium.
But that is why I’m loading up on the put side.
SPY
Sold 1 SPY 11/04/2020 342.0 Diagonal Call @ 1.32.
Hedged with an existing long December 355 call. #DoubleDip
Easily rollable if I miscalculated tomorrow’s move.
SLB WBA WFC Covered Calls
Sold SLB 11/06/2020 17.50 Covered Calls @ 0.09
Sold WBA 11/06/2020 37.50 Covered Calls @ 0.23
Sold WBA 11/06/2020 38.00 Covered Calls @ 0.17
Sold WFC 11/06/2020 24.00Covered Calls @ 0.08
Liquor run for election night covered 🙂
SPY
#ShortPuts – My one higher risk election play for fun. Going out a little but selling aggressively inside the expected move.
Sold SPY NOV 20 2020 322.5 Put @ 6.10
Markets
According to a study by Bloomberg’s quants Lily Gu and Bryan Liang, who looked at how options markets are positioned for the election, the market is split in two in terms of what it expects will happen on Nov 4: as shown in the chart below, the equity options market showed a 54% chance of a upside movement (+2.7%) between Nov. 2 and Nov. 4, and 45% chance of a larger drop (-3%).
ADBE roll down
Rolled $ADBE 550/560 bear call spread down to 485/495 for 1.35 credit. Part of iron condor with 450/440 bull put spread. Total premium taken in 4.79.
ZM roll down
Rolled $ZM 560/570 bear call spread down to 500/510 for 1.55 credit. Paired with 460/450 bull put spread. After two roll downs of the bear call spread side, total premium taken in is now 5.79.
SPX trades
#SPX1dte Expiring: $SPX Nov 2nd 3045/3065-3360/3380 condors, sold Friday for 1.10.
#SPX7dteLong Expiring at max credit of 20.00: Nov 2nd 3395/3375 put spreads. Condors bought for 17.50 last Tuesday.
I have an order in to buy a Nov 6th condor for 18.35. Volatility and premium are high so I won’t get filled unless things calm down into the close.
LABU
#ShortPuts – Adding one…
Sold LABU DEC 04 2020 35.0 Put @ 1.65
IBM
I’m long IBM and think the recent beating it has taken is rather overdone.
Sold IBM 1 x 3 x 2 Nov 13 2020: 110 / 115 / 120 Call Unbalanced Butterfly @ 0.32 debit.
This is a punt where I am willing to take on the task of managing a short 2 x 115 / 120 call spread, especially as that means I pocket 5 points from the 110 / 115 long call spread.
Limited downside risk (cost of the debit). Upside breakeven point @ $117.
MGM Put Rolled / NIO Call / T Put
$MGM BTC 11/6 22 put and STO 11/13 21.50 put at even
$T STO 11/20/26.5 put at .45
$NIO STO 11/6 36 calls at .75. Against stock that was assigned Friday at $31
TRADES:
AAPL STC AAPL STOCK @110.20
KRE STO 11/6/20 43.0 CALLS @.67
KRE STO 11/6/2039.0 PUTS @.34
VIAC STO 11/6/20 31.0 CALLS @.77 Earnings this Friday, 11/6/20, I will be out, as is my wont.
BIIB
#ShortStrangles – @OptionIceman pointed this out the other day. Great premium in it…
Sold BIIB NOV 6 2020 220.0/315.0 Strangle @ 7.21
TSLA
#ShortPuts – Nice reversal from Friday. I’ll take it early and look for something new on a pullback…
Bought to Close TSLA NOV 06 2020 350.0 Put @ 2.55 (sold for 5.94)
Malls Dragged Into Bankruptcy by…
Malls Dragged Into Bankruptcy by Carnage Among Retail Tenants
Pennsylvania Real Estate Investment Trust and CBL & Associates Properties Inc. sought protection from creditors Sunday, citing pandemic-induced pressures on their tenants and, in turn, themselves. Together the two REITs account for some 87 million square feet of real estate across the U.S.,
https://www.bloomberg.com/news/articles/2020-11-02/malls-dragged-into-bankruptcy-by-carnage-among-retail-tenants
Options Bistro 