#Jobs — Higher than expected.
Gain of +216,000 non-farm payroll jobs, vs. expected gain of 175K
Unemployment unchanged at 3.7%
U6 unemployment 7.1%, up by 0.1
Labor force participation at 62.5%, down by 0.3
Average hourly earnings up by 0.4%; 4.1% increase over the year
October jobs revised down by -45K to +105K
November jobs revised down by -26K to 173K
#ShortPuts – Taking 60 percent a couple weeks early.
Bought to Close MARA Jan 19 2024 17.5 Puts @ .32 (sold for .82)
#SPX1dte Sold to Open $SPX Jan 5th (next day) 4625/4645-4780/4800 condors for 1.00, deltas -.05 +.05, IV 15.5%
Today’s condor nicely centered and should expire. This new one is for tomorrow… there is the Jobs report in the morning, but I’m getting a nice width here so I’m comfortable.
1 SPY Jan 03 2024 469 Call
1 SPY Jan 03 2024 471 Call
#SPX1dte Sold to Open $SPX Jan 4th 4635/4655-4750/4770 condors for .95, deltas -.05 +.06, IV 12.4%
Condor from this morning expired. My error in setting up a close order led me to keep watch, and since we didn’t went lower than the morning dip (until right before the close), I rode it out to victory!
#spxcampaign
$SPX BTC 1/3 4670/4690 at .10. Sold at open at 1.31. Very skewed fill. Call side sold at .04 and hopefully expires.
#SyntheticShortStock – Won’t bore you with the details. Not a big fan of the liquidity and the cheap market makers so bailed on the whole thing.
Lost .52 on two spreads.
#BearPutSpreads – Catching up on this week. Yesterday on the early dip closed long puts and left shorts alone.
Originally a 475/425 BePS @ 10.50 basis
Sold SPY JAN 17 2025 475.0 puts @ 25.40
Leaving Jan 2025 425 short puts @ 14.90 credit
Hoping for a little bounce now to get out of weekly short puts I was selling against the position.
Sold to open $NFLX Feb 16 415/405 bull put spread @ 1.47, short puts 17 delta. Earnings are 1/23 so I will be closing this before then.
SPY Puts
Sold 1 SPY Jan 08 2024 465 Put at $0.65
Sold 1 SPY Jan 08 2024 466 Put at $0.81
Sold 1 SPY Jan 09 2024 464 Put at $0.84
Paired with SPY Bear Call Spreads already on the books
#SPX1dte Sold to Open $SPX Jan 3rd 4670/4690-4775/4795 condors for 1.05, deltas -.06 +.05, IV 18.9%
#spxcampaign
$SPX 4690/4710 – 4785/4805. STO at .85 around 10 AM Thank you @jeffcp66
Wanted to make sure I provided a citation
Almost a third of the 417 respondents to Bloomberg’s latest Markets Live Pulse survey say they will increase their China investments over the next 12 months. That compares with just 19% in a similar August survey and is higher than the 25% who planned to boost exposure in March last year. After funds trimmed exposure to the country’s shares to the lowest levels in years, only a fifth of the survey’s respondents now anticipate cutting their China holdings. Chinese stocks peaked in early 2021 and have since slumped almost 60%, with the MSCI China Index lagging an index of global stocks for three consecutive years — the longest streak since 2001.
#SPX1dte Sold to Open $SPX Jan 2nd 4680/4700-4795/4815 condors for 1.10, deltas -.06 +.05, IV 20.7%
Sold to open $COIN Jan 19 135/145/230/240 iron condor @ 2.34. Short strikes around 15 delta.
SPY: Selling against 475/425 Bear Put Spreads out to Jan 2025. Giving it a little more room next week.
Rolled SPY Dec 29 2023 475.0 Puts to Jan 5 2024 472.0 Puts @ .60 credit (1.95 total now)
#LongStock #CoveredCalls – Letting my highest basis stock go for small profits and replacing with put sales. Getting a chunk of cash back into the 5 percent MM. Still holding long stock from 95 down to 85.
Sold Covered Stock @ 98.90 and 98.80 (basis 98.25)
Sold TLT Jan 19 2024 97.5 Puts @ .60
Sold TLT Jan 19 2024 99.5 Puts @ 1.30
#SPX1dte Sold to Open $SPX Dec 29th 4720/4740-4825/4845 condors for .90, deltas -.06 +.06, IV 18.7%
Third day out of four this week that I have doubled down, taking advantage of the typically quiet holiday week. Watching today closely in case there is any larger moves due to last-day-of-year loading or unloading.
#spxcampaign #optionsexpiration
$SPX 4735/4715 – 4835/4815 and 4760/4740 – 4820/4840. STO at 1.82
#ShortPuts – I’m bored.
Sold MARA Jan 19 2024 17.5 Puts @ .82
#ShortPuts – Adding.
Sold TLT Jan 19 2024 98.5 Puts @ .72
Sold TLT Jan 19 2024 98.0 Puts @ .72
BTO, March 15, 25 calls at 7.40, The short interest is above 30% according to Fidelity and SMM put the stock on their active trader list. It is a small position but if it runs it will pay for some nice wine.
#shortputs
$BITO STO 1/19 20 put at 1.02
#shortputs
$ARM BTC 1/19 57.5 put at .10. STO at 1.08 on 12/12. Thank you @ramie77
#SPX1dte Doubling down with a second condor: Sold to Open $SPX Dec 28th 4735/4755-4820/4840 condors for .90, deltas -.09 +.05, IV 14.9%
This is 20 points higher on put side and 5 points higher on call side.
#spxcampaign
$SPX 12/27 4745/4725 BUPS. Sold on the 11 AM Dip at .50
#SPX1dte Sold to Open $SPX Dec 28th 4715/4735-4815/4835 condors for .90, deltas -.07 +.06, IV 10.6%
Expiring: Dec 27th 4845/4825 put spreads, sold yesterday for .80
#ShortPuts – Jan starter size.
Sold TLT Jan 19 2024 99.0 Puts @ .85
#ShortPuts – Decent size position for me so gotta take it after this move.
Bought to Close TLT Dec 29 2023 99.0 Puts @ .09 (sold for 1.00)
Bought to Close TLT Dec 29 2023 100.0 Puts @ .29 (sold for 1.37)
Bought to Close TLT Dec 29 2023 101.0 Put @ .81 (sold for 1.87)
SPY: Selling against 475/425 Bear Put Spreads out to Jan 2025.
Bought to Close SPY Dec 26 2023 475.0 Puts @ .03 (sold for 1.75)
Sold SPY Dec 29 2023 475.0 Puts @ 1.35
Sold to open $UPST Jan 19 40 puts @ 2.38
STO January 5, 47 puts at .37 cents.
#SPX1dte Adding to condor sold on Friday: Sold to Open $SPX Dec 26th 4705/4725-4790/4810 condors for 1.15, deltas -.07 +.07, IV 15.7%. Obviously, I’m assuming a pretty quiet day.
#SPX1dte Sold to Open $SPX Dec 26th 4690/4710-4800/4820 condors for 1.00, deltas -.06 +.06, IV 6.4%
#optionsexpiration
$AI 30.5 call
$TSLA 262.5 call
$AMD 144 call
The November PCE prices report fell 0.1% month over month, better than the forecasted rise of 0.1%. The year over year rate was 2.6%, which was also better than the estimate. The core rate, which excludes food and energy prices, was expected to rise 0.2% but only rose 0.1%, which adds to a string of positive inflation news. Additionally, the core year-over-year rate was 3.2%, an improvement to the forecasted 3.3%. The PCE is the Federal Reserve’s favored inflation gauge, and while it has fallen most of the year, it remains above the central bank’s 2% long-term target.
Personal Income was up 0.4% in November as expected, while Personal Spending rose 0.2%. Consumers appear to still be doing well, which could be a good sign for the economy.
Chinese video game and software stocks fell on Friday after Chinese regulators announced new gaming restrictions in the government’s campaign to curb gaming addiction. The plan is to limit the amount of money and time spent online. NetEase (NTES) and Bilibili (BILI) were among the losers tumbling 21% and 11% respectively overnight.
#ShortPuts #CoveredCalls – A few today.
FXI: Selling against synthetic stock.
Bought to Close FXI Dec 22 2023 23.5 Calls @ .01 (sold for .17)
Sold FXI Jan 19 2024 24.0 Calls @ .38
SPY: Added 475/425 Bear Put Spreads @ 11.60 out to Jan 2025 earlier in the week. Been selling against it to hopefully make it zero cost eventually.
Rolled SPY Dec 22 2023 475.0 Puts to Dec 26 2023 475.0 Puts @ .60 credit (1.75 total now)
TLT: Rolling a few and adding covered straddle.
Rolled TLT Dec 22 2023 99.0 Puts to Dec 29 2023 99.0 Puts @ .43 credit (1.43 total now)
Rolled TLT Dec 22 2023 100.0 Put to Dec 29 2023 100.0 Put @ .18 credit (1.74 total now)
Considering letting lowest cost block of stock get called away if these get hit:
Sold TLT Dec 29 2023 99.0 Calls @ .45
XBI: Another round.
Bought to Close XBI Dec 22 2023 84.0 Puts @ .01 (sold for .86 and .87)
Sold XBI Jan 19 2024 82.0 Puts @ .94
Sold XBI Jan 19 2024 83.0 Put @ 1.14
Sold XBI Jan 19 2024 84.0 Put @ 1.43
Looking like a top forming over most of December. Sold to open $ULTA Feb 2 500/510 bear call spread @ 2.00. Short calls 27 delta.
#SPX1dte Sold to Open $SPX Dec 22nd 4690/4710-4800/4820 condors for 1.25, deltas -.08 +.07, IV 21.4%
SPY Expiration:
SPY 481/474 Bear Call Spread
SPY 481/473 Bear Call Spreads
#ShortPuts – Still using weekly gains to buy back covered calls. Hoping to get most of them back within a couple months.
Bought to Close TLT Dec 22 2023 97.5 Puts @.03 (sold for .50)
Bought to Close TLT Dec 22 2023 98.0 Puts @ .05 (sold for .70)
Sold TLT Dec 29 2023 99.0 Puts @ .67
Sold TLT Dec 29 2023 100.0 Puts @ 1.19
Sold TLT Dec 29 2023 101.0 Puts @ 1.87
Still watching 99 and 100 strike for tomorrow.
Rolled this week’s short 30 Puts to next week’s 29 Puts at $0.40 Credit and picked up a point on the short strike
First good news on this one in a while
#SyntheticStock #ShortPuts – After reading this yesterday I’m thinning the herd. Keeping synthetic and beefing up disaster puts just in case.
https://www.zerohedge.com/geopolitical/graham-expresses-fury-report-xi-warned-biden-hell-reunify-taiwan-china
“Graham expressed outrage and called for bipartisan efforts to work toward urgently beefing up Taiwan’s defenses and military capabilities. “This story as reported is beyond unnerving,” Graham stated on X Wednesday. “I will be working with Democratic and Republican Senators to do two things quickly. First, create a robust defense supplemental for Taiwan and second, draft pre-invasion sanctions from hell to impose on China if they take action to seize Taiwan.”
Sold assigned stock @ 23.38 (basis 23.47)
Bought to Close FXI Dec 22 2023 24.0 Puts @ .62 (sold for .65)
Bought to Close FXI Dec 29 2023 24.5 Puts @ 1.12 (sold for .98)
Bought to Close FXI Jan 05 2024 24.0 Puts @ .84 (sold for .82)
Bought to Close FXI Jan 12 2024 23.5 Puts @ .62 (sold for .63)
Total loss about 60 bucks.
#SPX1dte Sold to Open $SPX Dec 21st 4665/4685-4775/4795 condors for 1.35, deltas -.11 +.07, IV 21%
Aggressive on downside as bounce is likely.
SPY Expiration
SPY Dec 20 2023 481/475 Bear Call Spread
…what news hit?
I was about to close this for a nice profit but that chart is making me want to stay involved some more.
Rolled $ARM Jan 19 57.50 puts up to Jan 19 67 puts (26 delta) @ 1.38 credit with the stock at 72.07.
#SPX1de Adding another tight position on this quiet week: Sold to Open $SPX Dec 20th 4730/4750-4790/4810 condors for .75. Deltas -.08 +.08
#coveredcalls
$TSLA STO 12/22 262.50 calls at 2.14
$AMD STO 12/22 144 calls at .92
$MARA STO 1/19 30 calls at 1.25
HE
#coveredcalls
Sto HE 29 DEC 23 15 CALL @.10
#ShortPuts – Adding.
Sold FXI Dec 29 2023 24.5 Puts @ .98
#SPX1dte Sold to Open $SPX Dec 19th 4720/4700 put spreads for .60, delta -.10, IV 14.2%
This is a bonus spread; my condor from yesterday still on.
#SPX1dte Filled 23 seconds after closing bell: Sold to Open $SPX Dec 19th 4685/4705-4785/4805 condors for .95. I wasn’t at my screen, but I estimate deltas were -.09 +.04
With the stock at 1620, rolled Jan 19 1420 put out to Feb 16 1420 put (13 delta) @ 10.70 credit. With rolls, total premium taken in now 80.97.
#SPX1dte Sold to Open $SPX Dec 18th 4670/4690-4760/4780 condors for .85, deltas -.06 +.06, IV 15.3%
#ShortPuts – Taking nice gains a month early. Adding to shorter term sales.
Bought to Close TLT Jan 19 2024 95.0 Put @ .48 (sold for 3.23)
Bought to Close TLT Jan 19 2024 96.0 Put @ .69 (sold for 3.91)
Bought to Close TLT Jan 19 2024 97.0 Put @ .98 (sold for 4.65)
Bought to Close TLT Jan 19 2024 98.0 Put @ 1.34 (sold for 3.45)
Sold TLT Dec 22 2023 99.0 Put @ .86
Sold TLT Dec 22 2023 100.0 Put @ 1.56
#SyntheticShortStock – As usual my covered puts got absolutely smoked. Selling against a long term synthetic short out to 2026. Rolling out and down a strike. Week before earnings.
Rolled NOC Dec 15 2023 477.5 Puts @ to Jan 19 2024 475 Puts @ even (7.45 and 4.50 total now)
At some point I may close the synthetic short and trade the puts like regular sales.
I’m sensing a theme here. LOL Decent directional trades but killing myself with the options. I still have nightmares about owning 900 shares of SOXL at 70 and having calls get run over and selling the stock at 90 just before it went to 600. UUgh.
#CoveredCalls #ShortPuts – As usual my covered calls got absolutely smoked. I’ve been rolling the calls up and out and selling puts daring it to come back down. Taking put profits and buying back covered calls gradually. Would like to get as much of it uncovered as possible in case JP actually does cut rates (although I am still skeptical).
Adding:
Sold TLT Dec 22 2023 99.0 Puts @ .93
#CoveredCalls #ShortPuts – As usual my covered calls got absolutely smoked. Letting stock go at a loss and replacing with short puts to get back to even. Last time I tried this I went full position with my put sales right before the last implosion. I’ll be more careful this time going with about one third size and hoping to add.
I’m going this route instead of rolling the calls to get cash back into the sweep earning 5 percent.
XBI Stock called away @ 75.00 (basis 76.90 and 78.25)
Sold XBI Dec 22 2023 84.0 Puts @ .86
#SPX1dte Sold to Open $SPX Dec 15th 4675/4655 put spreads for .75, delta -.08, IV 21.05%
#SyntheticStock #ShortPuts – Uncovering the synthetic stock and sprinkling in a few put sales.
Bought to Close FXI Dec 15 2023 24.0 Calls @ .26 (sold for .24)
Sold FXI Dec 22 2023 24.0 Puts @ .65
Sold FXI Dec 22 2023 24.5 Puts @ 1.03
Sold FXI Jan 05 2024 24.0 Puts @ .82
Sold FXI Jan 12 2024 23.5 Puts @ .63
Sold FXI Feb 16 2024 27.0/24.0 Bull Put Spreads @ 2.25
#ShortPuts – Let’s see if the 200 day holds.
Sold TLT Dec 22 2023 97.5 Puts @ .50
Sold TLT Dec 22 2023 98.0 Puts @ .70
#coveredcalls
$AI BTC 12/15 29.50 and STO 12/22 30.50 call at added credit of .15 and extra $1 if called away.
Rolled $SNOW Jan 19 170 puts up to Jan 19 190 puts @ 3.85 credit with the stock around 197. Total premium now 24.99 on the put sales and rolls so if I’m assigned at 190 my basis will be around 165.
#spx0dte
$SPX STO 4660/4680 – 4795/4775 at 1.10
#SPX1dte Sold to Open $SPX Dec 14th 4650/4670-4765/4785 condors for .95, deltas -.06 +.06, IV 21%
#SPX1dte Unable to sell any puts as market just ran. Profit is availabe on the #RiskReversal I sold yesterday… gonna try to pick a top.
Sold 1 SPY Dec 13 2023 460.0 Put at $0.17.
Paired with the calls I’m already short for today.
#OnlySpreads
#ShortPuts – Taking 60 to 70 percent of max prior to JP. Orders in for next week hoping for a good fill on some fluctuations.
Bought to Close TLT Dec 15 2023 93.5 Puts @ .18 (sold for .75)
Bought to Close TLT Dec 15 2023 94.0 Puts @ .29 (sold for 1.00)
Bought to Close TLT Dec 15 2023 95.0 Puts @ .65 (sold for 1.50)
And just in case he’s dovish:
Sold TLT Jan 19 2024 98.0 Put @ 3.40
Options Bistro 