My short 465 calls for today look safe (for now).
Adding new positions for tomorrow
Sold 1 SPY Dec 13 2023 466 Call at $0.49
Sold 1 SPY Dec 13 2023 467 Call at $0.30
Sold 1 SPY Dec 13 2023 468 Call at $0.19
#OnlySpreads
My short 465 calls for today look safe (for now).
Adding new positions for tomorrow
Sold 1 SPY Dec 13 2023 466 Call at $0.49
Sold 1 SPY Dec 13 2023 467 Call at $0.30
Sold 1 SPY Dec 13 2023 468 Call at $0.19
#OnlySpreads
Does anyone know when the SPY ex-div date is???
A new low below 12.
Market to the moon
Increasing my exposure to the chip sector. Sold to open $ARM Jan 19 57.50 puts @ 1.00 with the stock at 64.82.
#SPX1dte #RiskReversal
Sold to Open $SPX Dec 13th (next day) 4520/4500 put spreads
Bought to Open Dec 13th 4700/4720 call spreads
Net DEBIT .50
I will hold this until after Fed press conference tomorrow, in case ultimate market reaction is bullish
Prices across a broad range of goods and services edged higher in November as energy prices declined, providing hope that inflation could be on a lower trajectory.
The consumer price index, a closely watched inflation gauge, increased 0.1% in November, and was up 3.1% from a year ago, the Labor Department reported Tuesday. Economists surveyed by Dow Jones had been looking for no gain and a yearly rate of 3.1%.
While the monthly rate indicated a pickup from the flat CPI reading in October, the annual rate showed another decline after hitting 3.2% a month ago.
Excluding volatile and energy prices, core CPI increased 0.3% on the month and 4% from a year ago. Both numbers were in line with estimates and little changed from October.
https://www.cnbc.com/2023/12/12/cpi-inflation-report-november-2023.html
SPY Dec 11 2023 466/462 Bear Call Spreads (just barely – $0.01 out of the money)
1 SPY Dec 11 2023 465/463 Bear Call Spread
#OnlySpreads
Sold SPY Dec 12 2023 465.0 Calls at $0.38
#OnlySpreads
#SyntheticStock – Taking a long term shot. Starter position only .22 out of pocket.
Bought FXI Jan 16 2026 25.0/25.0/15.0 Synthetic Stock with Disaster Put @ .45 debit
Sold FXI Dec 15 2023 24.0 Calls @ .23
#coveredcalls
$AI STO 12/15 29.50 call at .45
#SPX1dte Sold to Open $SPX Dec 11th 4550/4570-4635/4655 condors for 1.05, deltas -.08 +.06, IV 16.2%
1 ENPH Dec 08 2023 117/107/102/99 Short Iron Condor sold for $2.15.
#OnlySpreads
1 SPY Dec 08 2023 466/463 Bear Call Spread
1 SPY Dec 06 2023 465/462 Bear Call Spread
#OnlySpreads
Rolled deep in the money BOIL puts out a week for decent credits and rolled down the following:
Rolled BOIL 32 Puts to BOIL 31 Puts for $0.47 Credit
Rolled BOIL 31 Puts to BOIL 29 Puts for $0.56 Credit
Rolled 1 BOIL 30 Put to 1 BOIL 29 Put for $0.90 Credit
#ShortPuts – A couple more.
Sold TLT Dec 15 2023 93.5 Puts @ .75
#SyntheticShortStock – Selling against a long term synthetic short out to 2026. Rolling out a week and down a strike.
Rolled NOC Dec 08 2023 480.0 Puts to Dec 15 2023 477.5 Puts @ 2.00 credit (7.45 and 4.50 total now)
#ShortPuts – Partial re-load.
Sold TLT Dec 15 2023 94.0 Puts @ 1.00
Sold TLT Dec 15 2023 95.0 Puts @ 1.50
#SPX1dte Sold to Open $SPX 4515/4535-4630/4660 condors for 1.00, deltas -.05 +.07, IV 21.65%
Muted reaction to Jobs number, wish I could have sold before the report but been burned too many times this year.
#Jobs — A bit more than expected. Wages increased strongly.
Gain of +199,000 non-farm payroll jobs, vs. expected gain of 185K
Unemployment down by 0.2 to 3.7%, vs expected unchanged
U6 unemployment 7.0%, down by 0.2
Labor force participation at 62.8%, up by 0.1
Average hourly earnings up by 0.4%; 4.0% increase over the year
September jobs revised down by -35K to +262K
October jobs unchanged at 150K
1 SPY Dec 07 2023 466/460 Bear Call Spread
SPY Dec 06 2023 466/459 Bear Call Spreads
#OnlySpreads
#ShortPuts – Some of these were sold in the money for a directional trade. After this big move I’m thinning the herd a little. Hoping to build a bigger Jan position on a pullback.
Bought to Close TLT Dec 15 2024 93.0 Put @ .39 (sold for 3.05)
Bought to Close TLT Dec 15 2024 94.0 Put @ .69 (sold for 2.30)
Bought to Close TLT Dec 15 2024 95.0 Put @ 1.10 (sold for 2.20)
Bought to Close TLT Jan 05 2024 93.0 Put @ .91 (sold for 2.44)
Bought to Close TLT Jan 05 2024 94.0 Put @ 1.27 (sold for 3.10)
Bought to Close TLT Jan 05 2024 95.0 Put @ 1.71 (sold for 3.85)
#SPX1dte Sold to Open $SPX Dec 7th 4500/4520-4590/4610 condors for .90, deltas -.07 +.06, IV 16.7%
Weekly jobless claims came in exactly as expected so market has no meaningful reaction. Tomorrow’s MONTHLY job number may have more impact as we have both CPI and Fed Decision coming next week.
Today’s candlestick is bearish engulfing. Similar to last Wednesday, but that time was not engulfing on the lower side like today’s.
1 SPY Dec 06 2023 466/460 Bear Call Spread
1 SPY Dec 06 2023 459 Call
#OnlySpreads
Not much left to make here, so I’m taking it off. Bought to close $LLY 12/15 540 put @ .35. Sold for 3.30 on 11/8.
#SPX1dte Sold $SPX Dec 6th 4555/4535 put spreads for 1.15, delta -.17
Sold some more:
VNO at $28.02
USB at $40.01
BBY at $75.01
CPB at $43.01
#FormerFallingKnife #GoingToCash
SPY Dec 05 2023 457 Calls
SPY Dec 05 2023 458 Call
SPY Dec 05 2023 459 Call
BOIL vs Put Assignment Friday
Sold 1 BOIL Dec 08 2023 38 Covered Call at $0.90
CVS Covered Call Ladder
Sold 1 CVS Dec 08 2023 73 Covered Call at $0.28
Sold CVS Dec 15 2023 73 Covered Calls at $0.58 and $0.68
Sold 1 CVS Dec 22 2023 74 Covered Call at $0.59
SPY Calls for today
Sold SPY Dec 05 2023 457 Calls at $0.98
Sold 1 SPY Dec 05 2023 458 Call at $0.22
Sold 1 SPY Dec 05 2023 459 Call at $0.13
#OnlySpreads
Sentiment always reverses faster than you’d expect. At first, it might feel like the bad times will only worsen. But when they don’t, folks begin to look at the bright side – and the next thing you know, everyone’s bullish again.
Typically, that process takes time… usually months, not weeks or days. But the recent stock reversal is an exception.
You see, stocks were oversold at the October bottom based on the relative strength index (“RSI”).
The RSI looks at recent prices to determine if a stock has moved too far, too fast. When that happens, a snapback rally is possible. So it’s worth paying attention to this indicator.
We generally refer to an RSI reading below 30 as “oversold.” In other words, a rally is likely. And we refer to an RSI above 70 as “overbought,” meaning a decline is likely. The S&P 500 Index just went from oversold to overbought in just a month.
Reversals that quick have only happened 10 other times since 1950. That makes today’s action incredibly rare.
More important, the market sees consistently higher gains after these setups.
You might expect stocks to suffer after becoming overbought. But history shows the opposite is likely to happen after a quick RSI reversal. In fact, the market tends to massively outperform the typical 7.9% annual gains we’ve seen since 1950.
Similar instances led to 4.4% gains in three months, 8% gains in six months, and an impressive 12.5% gain over the next year. Those are solid results. Plus, stocks were higher a year later 70% of the time.
This isn’t what we’d typically expect after the RSI shows stocks are overbought. And most folks out there are still looking for reasons to sell.
But the data is clear. It tells us that the recent rally will continue. So don’t get caught on the sidelines as it unfolds.
#spx0dte
STO 12/5 $SPX 4500/4520 – 4595/4615 at .85
#SPX1dte Bought to close $SPX Dec 5th 4610/4630 call spreads for .10. Condors sold yesterday for 1.45. 4520/4500 put spreads still short. Econ data coming at 9:45 & 10 ET.
SPY Dec 04 2023 457 Calls
SPY Dec 04 2023 458 Call
#OnlySpreads
Sold small pieces of all these:
AAP at $54.86
BXP at $64.29
FITB at $30.30
MMM at $100.45
PARA at $15.81
UPS at $156.01
VNO at $27.01
ZION at $39.01
#FormerFallingKnife #GoingToCash
#spxcampaign
At the morning drop
$SPX STO 12/4 4530/4550 BUPS at 3.84. BTC on the way up at 1.80. Patience might have been golden, but it could turn to coal.
A tiny bump up off of new lows in UVXY:
Sold UVXY Dec 15 2023 17/13 Bear Call Spreads at $0.14 Credit
Sold UVXY Dec 15 2023 17.5/13.5 Bear Call Spreads at $0.12 Credit
Sold UVXY Dec 15 2023 18/13.5 Bear Call Spreads at $0.12 Credit
Sold UVXY Dec 29 2023 17/14 Bear Call Spreads at $0.19 Credit
#OnlySpreads
#ShortPuts – New SPY ladder starting in Jan monthly down around the 50 day and the expected move.
Sold SPY Jan 19 2024 435.0 Put @ 2.45
Sold SPY Jan 19 2024 440.0 Put @ 3.19
#BearishDoubleVertical #BullPutSpreads – Taking gains on the long put side. Adding a SPY hedge against the call side of the SPX hedge. Very bullish SPY up to my short call SPX strikes but with very limited downside. Overall still hoping it tanks to 4000. LOL
Sold to Close SPX Jan 19 2024 4400/4300 Bear Put Spread @ 11.10 (“bought” for 3.00 credit)
Leaving the short call side on for now (4750/4760) and selling SPY put spreads to help protect those in another rally.
Sold SPY Jan 19 2024 480/460 Bull Put Spreads @ 16.00
I’ll manage those by planning to take stock at a basis 4 dollars above wherever the stock is at expiration if we tank.
Tomorrow: The health of the auto market will be in focus, with AutoZone and Nio, the Chinese electric vehicle maker, set to deliver results.
Wednesday: Earnings reports are due from GameStop and C3.ai, with shares in the latter up roughly 175 percent this year amid investor enthusiasm for artificial intelligence.
Thursday: Lululemon and Dollar General report results.
Friday: It’s the jobs report. Economists have estimated that employers added roughly 200,000 positions last month, which would keep the unemployment rate unchanged at 3.9 percent. Market watchers will be paying particular attention to wage gains and revisions of previous months’ data for an indication of whether the labor market is cooling off, or if October’s tepid report was just a blip.
#SPX1dte Sold to Open $SPX Dec 4th 4525/4545-4620/4640 condors for 1.15, deltas -.07 +.07, IV 18%
#BearishDoubleVertical – New hashtag! LOL Going out to Jan monthly and using the expected move for strike selecions. Trade makes money anywhere below 4750 but the lower the better.
Sold SPX Jan 19 2024 4750/4760 Bear Call Spreads
Bought SPX Jan 19 2024 4400/4300 Bear Put Spreads
Ratio of 5 calls for one put so net credit of 3.00
Closed out my last tiny positions in these for gains
WHR at $114.01
CCI at $117.61
MTB at $130.01
Sold a bit more ZION at $37.01
#FormerFallingKnife
BTO March 15, 40 calls at 7.35
Bought to close BOIL Dec 01 2023 36.0 Puts at $0.05
Replaced them with 1 short BOIL Dec 08 2023 35.0 Put at 1.55
#OnlySpreads
Sold SPY Dec 01 2023 460.0 Diagonal Calls at $0.12, $0.20 and $0.29
Crazy strong market
STO December 15, 45 puts at 2.09
#ShortPuts – Another.
Bought to Close TLT Dec 15 2023 92.0 Put @ .95 (sold for 3.45)
#ShortPuts – No sign of a JP pullback. Maybe this will throw a wet blanket on the bond market for awhile.
Sold TLT Jan 19 2024 95.0 Put @ 3.23
Sold TLT Jan 19 2024 96.0 Put @ 3.91
Sold TLT Jan 19 2024 97.0 Put @ 4.65
#ShortPuts – I’ll keep peeling these off as it climbs.
Bought to Close SPY Dec 15 2023 435.0 Puts @ .35 (sold for 2.08 avg)
“Sorry, we have run into a small problem.
Don’t worry, it’s nothing you did, just a minor system error on our end. We’re working on it and hope to have it resolved soon.”
#SPX1dte Sokd to Open $SPX 4515/4535-4610/4630 condors for .65, deltas -.06 +.05, IV 20.2%
Waited until Powell finished remarks and for Q&A to begin. Went with less aggressive deltas, so I have less chance of stepping in sh*t on a Friday.
#ShortPuts – Taking off the bottom of the big Dec ladder for decent gains before JP starts yakking today. Hopefully a JP dip to reload.
Bought to Close TLT Dec 15 2023 88.0 Put @ .24 (sold for 2.77)
Bought to Close TLT Dec 15 2023 89.0 Put @ .41 (sold for 2.80)
Bought to Close TLT Dec 15 2023 90.0 Put @ .66 (sold for 3.40)
Bought to Close TLT Dec 15 2023 91.0 Put @ 1.03 (sold for 3.70)
#SyntheticShortStock – Long term short out to 2026. Been selling short put a little too aggressivey so bringing it back in and only slightly in the money.
Bought to Close NOC Jan 19 2024 480.0 Put @ 11.40 (sold for 12.95)
Sold NOC Dec 08 2023 480.0 Put @ 5.45
STO:
December 15, 350 puts at .17
December 22, 350 puts at .32
December 29, 350 puts at .47
December 29, 360 puts at .88
January 5, 360 puts at 1.19
Bought to close BOIL Dec 01 2023 34 Puts at $0.05
SPY Nov 30 2023 462/458 Bear Call Spread
SPY Nov 30 2023 445/451 Bull Put Spread
#OnlySpreads
#BullPutSpreads – Not to interested in this one anymore. If it gets down to 380 I’ll look again.
Bought to Close NVDA Dec 15 2023 450.0/440.0 Bull Put Spreads @ 2.45 (sold for 1.90)
STO January 12, 355 puts at 1.31
LABU announced a reverse split, effective 2023-12-04.
The terms of the split are 1 : 20.
Post-earnings stock at 187, rolled $SNOW Dec 15 150 puts up and out to 1/19 170 puts @ 3.02 credit. After 4 rolls, total premium on this position is 21.14 to offset any potential assignment of stock.
#ShortPuts – Completely out now.
Bought to Close SNOW Dec 15 2023 157.5 Puts @ .18 (sold for 2.35 and 3.66)
#SPX1dte Sold to Open $SPX Nov 30th 4525/4505 put spreads for .55, delta -.09, IV 18.45%. Sold 4 minutes after jobless claims and other data released.
SPY Nov 29 2023 459 Calls sold today
SPY Nov 29 2023 457 Calls sold yesterday
#OnlySpreads
Added one more condor with the strikes a bit higher than my first one:
Sold 1 SNOW Dec 01 2023 210/205/148/143 Iron Condor at $0.63 Credit
#Earnings #OnlySpreads
#ShortPuts – Never got a chance to add at higher premiums. Adding one anyway down at the 50 day and at the expected move.
Sold SNOW Dec 15 2023 157.5 Put @ 2.35
STO, December 15, 45 puts at 1.81
Sold SPY Nov 29 2023 459 Calls at $0.23 and $0.35
Sold 1 COF Dec 01 2023 111 Call at $0.45
Sold 1 BOIL Dec 01 2023 34 Put at $0.50
Sold 1 ENPH Dec 01 2023 107 Call at $0.52
Sold 1 EXPE Dec 01 2023 140 Call at $0.76
#CoveredCalls #ShortPuts – Rolling covered calls up and out and adding short puts.
Rolled TLT Dec 15 2023 90.0 Calls to Jan 19 2024 93.0 Calls @ .75 debit
Rolled TLT Dec 15 2023 91.0 Calls to Jan 19 2024 94.0 Calls @ .45 debit
Sold TLT Jan 05 2024 93.0 Put @ 2.44
Sold TLT Jan 05 2024 94.0 Put @ 3.10
Sold TLT Jan 05 2024 95.0 Put @ 3.85
Taking small gains.
Sold CCI at $114.67
Sold TGT at $132.36
Sold SCHD at $71.89
#GoingToCash
#spxcampaign
Sold to open $SPX Nov 29th 4540/4520 put spreads for .35, delta -.09
#coveredcalls
$AI BTC 12/1 30.50 call and STO 12/8 32 call at added premium of .81. So far have collected premium of 1.96 and increased called away price from 30 to 32. Thank you @optioniceman for the education.
#SPX1dte Sold partial of $SPX Nov 29th 4590/4610 call spreads for 3.00. Bought yesterday for .30.
Overnight rally came through. Now bouncing around after GDP numbers came in a bit above estimates and some yapping from Fed members.
SPY Nov 28 2023 456.0 Calls sold yesterday at $0.34, $0.35, $0.37 and $0.42
1 SPY Nov 28 2023 457.0 Call sold yesterday at $0.17
1 SPY Nov 28 2023 449/452 Bull Put spread sold at $0.13 Credit