Tiny buys at new lows for some high yielders:
WU at $10.14
HBAN at $10.20
PRU at $80.10
PNC at $124.00
#FallingKnife
Recent Updates Page 2
SPY OptionsExpiration
1 SPY 405/395 Bear Call spread expired
1 SPY 405/397.0 Bear Call spread expired too.
Short a 397 Call and a 400 Call for tomorrow
#OnlySpreads
Stocks
Dumped all my META at $197.16, a new recovery high for this year.
Bought this one 12 times during the 2022 meltdown, getting in at $245.0 to start and ending with a buy at $98.00.
Made about 4% overall and it wasn’t worth the aggravation. 🙂
SPY SOXL
roll SPY 16 MAR 2023/15 MAR 2023 383/386 PUT @.48 /ROLL ONE DAY AND DOWN 386 to 383
roll SOXL 24 MAR 2023/17 MAR 2023 12 CALL @.34
SPX 1 DTE
#spx1dte
$SPX STO 3/16 3740/3760 – 3980/4000 at 1.22 SPX at 3783
Today’s trade
STO 3/15 3790/3810 – 4020/4090 should expire. Sold this morning for .95
SPX 1-dte
#SPX1dte Sold to Open $SPX March 16th 3745/3765-3970/3990 condors for 1.55, SPX at 3877, deltas -.06 +.06
SPX closed
#SPX1dte Bought to close $SPX March 15th 3800/3780 put spreads for .30. Condors sold yesterday for 1.40. My stop was NOT hit but I’m closing for protection in light of a volatile week.
#SPX5dte My ill-timed long put spread (bought Monday for 2.00) has turned out to be a downside hedge for the week on condor trades. But that power will drain a lot tomorrow as Friday expiration nears.
SPX
BTO SPX Mar-27-23 3675/Mar-24-23 3700 Put Diagonal @ 1.05 credit
Will benefit if market drops, as long as it doesn’t fall through 3700 :-(.
SPX,
Ona bounce I sold the 3900/3920 call spread for 1.20for the expiration today.
UVXY Puts
Bought to close UVXY Mar 17 2023 6.0 Puts at $0.14. Sold on a roll last week at $1.33
Rolled to short UVXY Mar 24 2023 5.5 Puts at $0.18 and picked up $0.50 on the short strike
#OnlySpreads
SPY Put rolled
Rolled today’s SPY Mar 14 2023 390.0 Put to Thursday’s SPY Mar 16 2023 388.0 Put at $0.02 Credit
Dropped the short strike 2 points
#OnlySpreads
Hmmmmmmmm??
#Cant make this up
Federal Reserve Governor Michelle Bowman asserted that the U.S. banking system remained resilient and had a solid foundation of strong capital and liquidity.
Citi Bank economist Veronica Clark said that the Federal Reserve needs to raise rates higher citing the economy is still too strong on a broad basis.
TLT
#ShortPuts – Wild swings in this thing so taking it a couple days early. Fidelity is commission free below .65 on BTC orders.
Bought to Close TLT MAR 17 2023 104.0 Puts @ .15 (sold for 1.85)
VXX
Throwaway long puts to write against
Bought 1 VXX May 19 2023 31.0 Put at $0.05
Bought 1 VXX May 19 2023 32.0 Put at $0.05
Bought 1 VXX Jun 16 2023 10.0 Put at $0.02
Bought 1 VXX Jun 16 2023 15.0 Put at $0.03
Bought 1 VXX Jun 16 2023 20.0 Put at $0.04
Bought 1 VXX Sep 15 2023 10.0 Put at $0.04
Bought 1 VXX Sep 15 2023 15.0 Put at $0.05
These are highly illiquid with wide bid/ask spreads
#VXXContango
SPX
BearPutSpreads – Taking the quickie.
Sold to Close SPX JUN 16 2023 3800/3700 Bear Put Spread @ 30.00 (bought for 24.00)
SPX,
STO 3745/3765 put spread at 1.60 in the pre market
SPY OptionsExpiration
1 SPY Mar 14 2023 420/396 Bear Call Spread expired. Sold the short yesterday at $0.85
Have a short 395.0 and a short 397 Call for tomorrow
SPX
BTO SPX Apr 4000/4100/4300 1/3/2 call BWB @15 credit.
This pairs up with the put side 3700/3600/3400 1/3/2 BWB opened last week at 21.3, for a total of 36 credit. no additional margin cost.
For this type of trades, i try to leg into each side, sometimes there may not be opportunity to add the other side. Depending how things shake up, I may leg out by 1 week before expiration, or hold a little longer for some extra credit to close.
I also do day scalping on SPX, but generally don’t post, too time sensitive, the window may only be there for a few mins.
SPY
SPX-1dte
#SPX1dte Sold to Open $SPX 3780/3800-3980/3900 condors for 1.40, SPX at 3896, deltas -.06 +.05
Expiring: March 14th 3775/3795-3970/3990 condors, sold this morning for 1.40.
SPY Put rolled
Once SPY broke 388 I had to act before the close (my earlier roll from this morning looks good now)
Rolled today’s SPY Mar 14 2023 392.0 Put to Thursday’s SPY Mar 16 2023 390.0 Put at $0.24 Credit
Dropped the short strike 2 points
#OnlySpreads
SPY SPX
#CoveredCalls #BearPutSpreads – A few.
SPY: Rolled DITM covered calls for today out to Friday. Each one up one strike and filled @ even.
Rolled SPY MAR 14 2023 382.0 calls to MAR 17 2023 383.0 Calls @ even (8.75 total now)
Rolled SPY MAR 14 2023 383.0 calls to MAR 17 2023 384.0 Calls @ even (8.45 total now)
Rolled SPY MAR 14 2023 384.0 calls to MAR 17 2023 385.0 Calls @ even (8.00 total now)
SPX: Took a shot earlier today as SPX approached the 200 day.
Bought to Open SPX JUN 16 2023 3800/3700 Bear Put Spread @ 24.00
PNC KSS Puts rolled
Some more “black hole” trades needed to be rolled after yesterday
Rolled 1 PNC 03/17/2023 141.0 Put to 1 PNC 03/24/2023 139.0 Put at $0.45 Credit
Rolled 1 KSS 03/17/2023 23.0 Puts to 1 KSS 03/24/2023 22.5 Put at $0.07 Credit
SOXL
#coveredcalls
Sto SOXL 100 17 MAR 2023 16.5 CALL @.13
SOXL
Sold SOXL Mar 17 2023 16.0 Calls at $0.29 and $0.34, replacing similar calls that expired on Friday
#OnlySpreads
SPY
Rolled the put the I sold yesterday out another day:
Bought to close 1 SPY Mar 14 2023 394 Put at $2.81. Sold at $9.54
Sold to Open 1 SPY Mar 15 2023 393.0 Put at $3.11 for a $0.30 Credit
Took the credit and bought 1 SPY Mar 21 2023 365.0 Put at $0.28 that will allow me to keep rolling the short down for a few more days
$SPX needs to close above 3940 before I’d even consider this drop over.
Bank trades
#Speculation I’m not sure I’m going to do any trade, but take a look at $PACW and $ZION. Both have dropped dramatically due to Silicon Valley Bank fallout, but both have assured customers they are solid and not at risk. I think selling April puts or put spreads is worth looking at. Especially low risk would be PACW, since stock price currently only 14.00 and even naked puts limits risk since we’re already so close to zero, but way below last week’s high of 27.00+.
VXX SPY
Bought 1 VXX May 19 2023 30.0 Put at $0.05
Sold VXX Mar 17 2023 40.0 Puts at $0.12
Sold 1 VXX Mar 17 2023 42 Put at $0.17
#VXXContango
Bought 1 SPY Mar 17 2023 407.0 Call at $0.13
Sold 1 SPY Mar 16 2023 397.0 Call at $1.16
#OnlySpreads
CPI: inflation up 0.4%, as expected
https://www.cnbc.com/2023/03/14/cpi-inflation-february-2023-.html
SPX 1-dte same day
#SPX1dte Sold to Open $SPX March 14th 3775/3795-3970/3990 condors for 1.40, deltas -.06 +.06
SPX,
STO 3780/3800-3960/3980 Iron condor at 2.05 in the pre market for a small trade.
SPY
#CoveredCalls – A few rolls to tomorrow.
Rolled SPY MAR 13 2023 386.0 calls to MAR 14 2023 382.0 Calls @ 5.40 credit (8.75 total now)
Rolled SPY MAR 13 2023 387.0 calls to MAR 14 2023 383.0 Calls @ 5.45 credit (8.45 total now)
Rolled SPY MAR 13 2023 388.0 calls to MAR 14 2023 384.0 Calls @ 5.40 credit (8.00 total now)
SPX puts closed
$SPX1dte Earlier, Bought to close $SPX Mar 13th 3750/3730 for .10. Taking a cue from last week and closing puts when I can. Condors sold Friday for 1.25, expecting call side to expire.
No trade for Tuesday due to CPI report release.
Morning stocks
High yield #SP500 stocks at new lows at the open.
Tiny buys:
HBAN at $11.34
VFC at $20.88
FITB at 26.70 and $22.15
OGN at $22.50
LNC at $23.72
ZION at $26.06
BAC at $28.73
CFG at $29.72
TFC at $33.10
USB at $38.10
CMA at $42.59 and $30.00
BXP at $55.89
PNC at $128.25
KEY at $10.00
FRC at $25.00
#FallingKnife
SPY
Rolled today’s SPY Mar 13 2023 395.0 Put to tomorrow’s SPY Mar 14 2023 394.0 Put at $0.02 Net Credit
Short the SPY 396.0 Call for tomorrow too.
KRE
STO KRE Apr21’23 25 PUT @0.45
STO KRE Apr21’23 30 PUT @0.95
FAS
STO FAS Apr21’23 40 PUT @1.98
STO FAS Apr21’23 35 PUT @1.24
CMA ZION Puts
I stepped into a hornet’s nest with these two but was able to roll them out and down:
Bought to close 1 CMA Mar 17 2023 62.5 Put / Sold 1 CMA Apr 21 2023 60.0 Put at $0.20 Credit
Bought to close 1 ZION Mar 17 2023 42.5 Put / Sold 1 ZION Apr 21 2023 40.0 Put at $0.25 Credit
SPX bearish long
#spx5dte Taking a shot for a bearish week since $VIX has exploded and Downside Warning started. Probably take half off if it doubles soon, then wait for more.
Bought to Open $SPX March 17th 3700/3680 put spreads for 2.00. SPX at 3878.
SPY
Sold 1 SPY Mar 14 2023 396.0 Call at $0.85
Sold 1 SPY Mar 15 2023 397.0 Call at $0.92
Sold 1 SPY Mar 15 2023 395.0 Call at $1.38
Paired with short Puts sold last week that I will probably have to roll
#OnlySpreads
VXX UVXY
Sold 1 VXX Mar 17 2023 60.0 Call at $4.20
Sold 1 VXX Mar 17 2023 59.0 Call at $4.35
Sold 1 VXX Mar 17 2023 58.0 Call at $4.80
Sold 1 UVXY Mar 17 2023 7.0 Call at $0.77
SPX,
I followed Jeff this morning in the pre market at 1.50 for a small trade and, I am watching it like a hawk.
LABU SOXL
Sold 1 LABU Mar 17 2023 4.5 Put at $0.27
Sold LABU Mar 17 2023 6.0 Calls at $0.11 (paired with LABU 6.0 puts I rolled last week)
Sold 1 SOXL Mar 17 2023 12.5 Put at $0.52 (paired with 1 SOXL 14.0 Call I rolled last week)
Sold 1 SOXL Mar 17 2023 12.0 Put at $0.32
More Stocks
Afternoon tiny buys at new lows:
FITB at $29.67. Div = 4.1%
WU at $11.00. Div = 8.2%
BAX at $38.28. Div = 2.9%
BXP at $60.00. Div = 6.3%
#SP500 #FallingKnife
SPX
BTO SPX Apr 3700/3600/3400 1/3/2 BWB @21.3 credit.
A lot of fear out there. short around the Oct low.
BTO SPX 3/20 3/17 4050 call calendar @1.2 ,
good RR if it moves that direction, doesn’t have to get there.
OptionsExpiration
What a fun week – he said sarcastically
==Expired==
LABU 11.5/7/5 Bear Call Spreads
LABU 7.5 Diagonal Calls
LABU 7.5 Covered Call
SOXL 19/17.5 Bear Call Spreads
SOXL 18.5/17 Bear Call Spreads
SOXL 18/16.5 Bear Call Spreads
SOXL 13.5 Diagonal Puts
SOXL 13.0 Diagonal Puts
SPY 415/402 Bear Call Spread
UVXY 4.5 Diagonal Puts
VXX 11.5 Diagonal Puts
VXX 10.5 Diagonal Puts
==Assignments==
Assigned on 5 VXX(Adjusted) 10.5 Covered Calls (represents 125 shares)
Couldn’t roll them out to next week or even out 2 weeks because of the gigantic bid/ask spreads.
I’ll take the loss on a small portion of my long stock, partially offset by the Put expirations in VXX above
Downside Warning in effect
#VIXindicator Fired at the close with $VIX over 25% higher than its two-day closing low.
Here are recent Downside Warnings for reference:
Fired 9/23/22, at the SPX close of 3,693.23. The SPX low of 3,491.58 was 14 trading days later (-5.5%)
Fired 4/22/22, at the SPX close of 4,272. The SPX low of 3,637 was 39 trading days later (-14.9%)
Fired 2/11/22, at the SPX close of 4,419. The SPX low of 4,115 was 8 trading days later (-6.9%).
Fired 1/20/22, at the SPX close of 4,483. The SPX low of 4,223 was 2 trading days later (-5.8%).
Fired 11/26/21, at the SPX close of 4,585. The SPX low of 4,495 was 5 trading days later (-2.0%).
Fired 9/20/21, canceled quickly but fired again on 9/28/21, at the SPX close of 4,353. The SPX low of 4,278 was 4 trading days later (-1.7%).
Fired 8/18/21, at the SPX close of 4,427. The SPX low of 4,368 was the next day, so another FALSE warning (-1.3%).
Fired 7/19/21, at the SPX close of 4,258. The SPX low was also that day, so this was a FALSE warning.
Fired 5/11/21, at the SPX close of 4,152. The SPX low was the next day at 4,056, so basically a FALSE warning. It dipped again 5 trading days after that to 4,061, then recovered from there(-2.3%).
Fired 2/25/21, at the SPX close of 3,829. The SPX low of 3,723 was 5 trading days later (-2.8%).
Fired 1/27/21, at the SPX close of 3,750. The SPX low of 3,694 was only 2 days later (-1.5%).
Fired 9/3/20, at the SPX close of 3,455. The SPX low of 3,209 was 3 weeks later on Sep 24th (-7.1%).
SPX 1-dte
#SPX1dte In last minute before closing bell, sold to open $SPX March 13th 3730/3750-3955/3975, SPX at 3861, deltas -.06 +.06
AMZN GOOGL SPY TLT
#CoveredCalls #ShortPuts #SyntheticCoveredCalls
AMZN: Synthetic covered.
Bought to Close AMZN MAR 10 2023 94.0 Calls @ .05 (sold for 1.76)
Bought to Close AMZN MAR 10 2023 95.0 Calls @ .05 (sold for 1.70)
Bought to Close AMZN MAR 10 2023 96.0 Calls @ .05 (sold for 1.26)
Sold AMZN MAR 17 2023 92.0 Calls @ 2.23
Sold AMZN MAR 17 2023 93.0 Calls @ 1.76
Sold AMZN MAR 17 2023 94.0 Calls @ 1.35
GOOGL: Synthetic covered.
Bought to Close GOOGL MAR 10 2023 92.0 Calls @ .05 (sold for 1.20)
Sold GOOGL MAR 17 2023 92.0 Calls @ 1.48
Sold GOOGL MAR 17 2023 92.5 Calls @ 1.29
SPY: A few.
Bought to Close SPY MAR 10 2023 389.0 Calls @ .45 (sold for 5.85)
Sold SPY MAR 13 2023 386.0 Calls @ 3.77
Sold SPY MAR 13 2023 387.0 Calls @ 3.00
Sold SPY MAR 13 2023 388.0 Calls @ 2.58
Rolled SPY MAR 10 2023 399.0 Put to MAR 17 2023 396.0 Put @ .40 credit (3.55 total now)
Rolled SPY MAR 10 2023 400.0 Puts to MAR 17 2023 397.0 Puts @ even (2.45 and 4.00 total now)
TLT: Covered.
Rolled TLT MAR 10 2023 103.0 Calls to MAR 24 2023 104.5 Calls @ even
UVXY call spread
Sold to open $UVXY Apr 21 7/12 bear call spread @ .62
SPY VIX SOXL
SOLD VIX 17 MAY 2023 [AM] 50 CALL @.65 /bto for .49
BTO VIX MAY 17 2023 17 STRIKE @ .21
#spy
SOLD SPY 10 MAR 2023 388 PUT @1.17 /bto .16 yesterday
—
#rolling
SPY 10 MAR 2023 392 to 14 MAR 2023 PUT 389 @.49
#optionsexpiration
soxl 13 btc .01
—
#rolling
SOXL 17 MAR 2023/10 MAR 2023 13.5 PUT @.70
SOXL 17 MAR 2023/10 MAR 2023 12 PUT @.31
VIX
STO VIX Apr 30/31 BeCS 0.2 , this pairs up with the 19/15 BuPS sold on monday.
XBI,
STO May 19, 165 puts at 1.51
XBI
STO XBI Apr21’23 70 PUT @ 1.50
SPY
The SPY went positive for a few minutes so I rolled my last SPY Put position for this week
Rolled today’s SPY Mar 10 2023 396.0 Put to Monday’s SPY Mar 13 2023 395.0 Put at $0.21 Credit.
My SPY Daily Put ladder for next week is:
Monday: 395
Tuesday: 392
Wednesday: 390
#OnlySpreads
LABU
#rolling
#kickthecan
SOLD CALENDAR LABU 17 MAR 2023/10 MAR 2023 6 PUT @.08
VXX and UVXY Calls
Going to the moon???
Sold UVXY Mar 17 2023 6.0 Calls at $0.30, $0.33, $0.35 and $0.42
Sold UVXY Mar 17 2023 6.5 Calls at $0.33, $0.41, $0.44 and $0.60
Sold 1 VXX Mar 17 2023 54.0 Call at $1.29
Sold 1 VXX Mar 17 2023 55.0 Call at $1.35
Sold 1 VXX Mar 17 2023 56.0 Call Net at $1.58
Sold 1 VXX Mar 17 2023 57.0 Call Net at $2.53
#OnlySpreads
KRE
STO KRE Jun16’23 40 PUT @1.20
Stocks
Decent yields all around as a bunch of tiny old orders fill on the opening
LNC at $26.36. Div = 6.5%
HAS at $50.00. Div = 5.4%
MTB at $125.10. Div = 3.9%
MMM at $105.00. Div = 5.6%
SCHD at $72.50. Div = 3.5%
TFC at $38.70. Div = 5.0%
VNO at $17.35. Div = 8.3%
ZION at $37.61. Div = 3.8%
#SP500 #FallingKnife
SPX stopped
#SPX1dte Bought to close $SPX 3850/3830 put spreads for 3.25. Condors sold an hour earlier for 1.50.
That makes for my worst week of 2023 so far, but still managed a profit of +1.35.
Upside Warning canceled
#VIXindicator Well, yesterday was not an anomaly. Drop continues, I will be stopped out, and the Upside Warning in effect since late November was just canceled with the $VIX spiking higher.
SPX 1-dte
#SPX1dte SAME DAY Sold to Open $SPX March 10th 3830/3850-4010/4030 condors for 1.50, deltas -.06 +.06
February Jobs report
#Jobs — Down from January, but exceeding expectations again. Wage growth lower than expected, which may be taken as good news about inflation
Gain of +311,000 non-farm payroll jobs, vs. expected gain of 225K
Unemployment rose 3.6%, vs. expected 3.4%
U6 unemployment 6.8%, up by 0.2
Labor force participation 62.5%, up by 0.1
Average hourly earnings up by 0.2%; 4.6% increase over the year. Both are 0.2 lower than expected.
January jobs revised down by -14K to +504K
December jobs revised down by -21K to +239K
Only takes one day
#SPX1dte Today is the first day in 2023 where my stop-out was necessary and saved money. Before today, all of my stop-outs had cost me 14.17, and all were unnecessary. If I hadn’t stopped out on any of those days, my YTD profit would have jumped from +34.85 to +49.02. That’s a huge difference. But today, we had 2023’s first strong breach of my short strike, and that +14.17 “woulda-coulda” number plummets to be -0.36.
So the “no-stop” alternative is now basically dead even with my actual profit.
Tomorrow, I will look for a same-day trade after the jobs number is released.
SPY
My short puts are being pressured so jumped in on a short call
Sold 1 SPY Mar 10 2023 402.0 Call at $0.48
The strike is above the range for the last few days
SPX trouble
#SPX1dte My stop is hit and I’m not risking this today. Looking for an exit. Behavior of $VIX and $TICK charts signal the possibility of a real flush out here. Watching closely for an exit on bounce.
SPY
#onlyspreads
expires tomorrow
Sto SPY 10 MAR 2023 392/388 PUT @.40
—
#spx7dte
Sto SPY 16 MAR 2023 377/373 PUT @.13
VXX Call Ladder
For next week:
Sold VXX Mar 17 2023 47.0 Covered Calls from $0.32 up to $0.42
Sold VXX Mar 17 2023 48.0 Calls at $0.35 and $0.40
Sold 1 VXX Mar 17 2023 49.0 Call at $0.37
AMZN GOOGL XBI
#SyntheticStock #ShortPuts – Move to Fidelity is complete for all accounts now. Active Trader Pro is junk and the mobile app is junk compared to TOS but the cash sweep interest payments are pretty nice to make up for it. LOL Most positions are for tomorrow. Only things so far this week are adds to GOOGL and AMZN synthetic stock and an add to XBI April short puts.
Bring on the reports! (central time)
Stocks
Tiny trades
Bought VNO at $18.25. Div = 8.0%
Bought PNC at $142.50. Div = 4.1%
Bought VFC at $23.41. Div = 5.0%
Bought WU at $11.70. Div = 7.9%
#SP500 #FallingKnife
BTW: Regional banks are really under pressure
SOXL
#rolling
SOLD SOXL 17 MAR 2023/10 MAR 2023 16.5 CALL @.49
FYI SPY Dividend
FYI SPY Dividend – Mar 17, 2023
KRE
STO KRE Jun16’23 50 PUT @1.15
SPX 1 DTE
SPY OptionsExpiration
1 short Mar 08 2023 409.0 Call expired. Sold at $1.05 on 03/03
1 short Mar 08 2023 406.0 Call expired. Sold at $1.95 on 03/06 as a rollup from Monday’s 403.0 Call
1 short Mar 08 2023 398.0 Put expired (barely). Sold on 03/06 at $0.54
1 short Mar 08 2023 375.0/392.0 Bull Put Spread expired
#SPYDailyLadder
Options Bistro 