#SPX1dte Placed my trade right before a spike two days in a row, in opposite directions.
Bought to close put side for 1.45, by selling $SPX Sept 12th 4445/4465 call spreads for 18.55.
Will consider a roll trade a bit later if things settle.
Recent Updates Page 69
SPX same day
#SPX1dte Sold to Open $SPX Sep 15th 4445/4465-4545/4565 condors for 1.00, deltas -.07 +.06, IV 19.5%
SPY
#ShortPuts – With the bounce today taking half the total with a month to go. In these less than 10 days.
Bought to Close SPY OCT 20 2023 425.0 Put @ 1.14 (sold for 3.20)
Bought to Close SPY OCT 20 2023 430.0 Put @ 1.51 (sold for 2.50)
Bought to Close SPY OCT 20 2023 435.0 Put @ 2.03 (sold for 3.35)
Closing ADBE
Pre-earnings (after the bell today) bought to close $ADBE Oct 20 530/540/580/590 iron condor at 4.90. With 1 roll up, total premium taken in was 4.77 so taking a small (.13) overall loss.
SNOW
ShortPuts – One add…fairly aggressive but still below the 200 day. Breakeven of overall position near recent lows.
Sold SNOW Oct 20 2023 155.0 Put @ 4.05
SPX reverse roll
#SPX1dte Sold to Open $SPX Sep 14th 4460/4440 put spreads for 1.00. delta -.11. Aggressive but going with upward trend of the day. This absorbs the loss of the call side.
SPX same day
#SPX1dte Sold to Open $SPX Sept 14th 4415/4435-4510/4530 condors for 1.00, deltas -.06 +.07, IV 17.9%
AMZN,
STO October 20, 135 puts at 1.35
SNOW
#ShortPuts – Jumping back in.
Sold SNOW Oct 20 2023 150.0 Puts @ 2.40
TQQQ,
STO December 15, 35 puts ay 2.06
CPI for August
(from CNBC.com)
Inflation posted its biggest monthly increase this year in August as consumers faced higher prices on energy and a variety of other items.
The consumer price index, which measures costs across a broad variety of goods and services, rose 0.6% for the month, and was up 3.7% from a year ago. Economists surveyed by Dow Jones were looking for respective increases of 0.6% and 3.6%.
However, excluding volatile food and energy, core CPI increased 0.3% and 4.3% respectively, against estimates for 0.2% and 4.3%. Federal Reserve officials focus more on core as it provides a better indication of where inflation is heading over the long term.
SPX same day
#SPX1dte I pulled trigger one minute before CPI data released since I was getting good premium and width.
At 5:29am PT, sold to Open $SPX Sept 13th 4385/4405-4515/4535 condors for 1.30, deltas -.07 +.06
TOS to Schwab: has anybody…
TOS to Schwab: has anybody had the accounts already transferred to Schwab? I was wondering if the TOS platform will go away and I may have to learn yet another new platform.
XBI
#CoveredCalls – With cash sweep paying 5 percent I’d rather get the cash back into the account and make up the small losses with put selling. Unloading some covered stock at slight losses and replacing with a slightly larger short put position. Should get back to even much sooner than continuous call rolling.
Sold XBI Covered Stock @ 74.70 (basis of 75.10, 77.50, and 78.00)
Sold XBI Sep 15 2023 79.0 Puts @ .57
Risk off
#SPX1dte Closed put side for .15 by selling to Open $SPX Sep 12th 4425/4445 call spreads for 19.85. My stop was not hit but I don’t want to wait for that possibility.
TLT
#CoveredCalls #SyntheticCoveredCalls – Another round.
Bought to Close TLT Sep 15 2023 97.0 Calls @ .03 (sold for .65)
Bought to Close TLT Sep 15 2023 97.5 Calls @ .02 (sold for .55)
Sold TLT Sep 22 2023 95.5 Calls @ .35 .37 and .38
SPY,
STO November 17, 420 put at 2.75
STO October 6, 425 put at 1.01
STO October 13, 420 put at 1.05
SPY
#ShortPuts – Come and get it Mr. Market!
Sold SPY OCT 20 2023 435.0 Put @ 3.35
SPX same day
#SPX1dte Sold to Open $SPX Sept 12th 4425/4445-4510/4530 condors for 1.30, deltas -.08 +.08 IV 17.4%
CVS
Sudden jump midday in CVS:
Bought CVS 09/22/2023 73.00 Calls / Sold CVS 09/15/2023 70.00 Call at $0.22 and $0.27 Credit.
Bought 1 CVS 09/22/2023 74.0 Call / Sold 1 CVS 09/15/2023 71.00 Calls at $0.13 Credit.
#DiagonalBearCall Spreads
TQQQ
Since all my TQQQ spreads expired last week, I’m slowly adding some new ones.
Bought TQQQ Sep 15 2023 47.0 Calls at $0.01 then sold TQQQ Sep 15 2023 44.0 Calls against them at $0.20.
Bought TQQQ Sep 15 2023 46.5 Calls at $0.02 then sold TQQQ Sep 15 2023 44.0 Calls against them at $0.21.
A slightly tighter spread for the same credit
#OnlySpreads
BOIL CVS DG VXX
Sold 1 BOIL Sep 15 2023 45/50 Bull Put Spread at $0.60
Sold 1 CVS Sep 29 2023 70.0 Covered Call at $0.13
Sold DG Sep 15 2023 132.0 Covered Calls at $0.45
Sold DG Sep 15 2023 139/133 Bear Call Spreads at $0.27
Sold 1 VXX Sep 15 2023 26/21.5 Bear Call Spread at $0.35 Credit
Corrected the expiration dates
What!!!!!
Former FTX CEO Sam Bankman Fried’s lawyers have requested for a pre-trial release because the internet sucks in jail.
SPX same day
#SPX1dte Sold to Open $SPX Sep 11th 4415/4435-4510/4530 condors for 1.00, deltas -.07 +.06, IV 17.7%
Expiration / AI Call close
#optionsexpiration
$AI 26/37 strangle
$RIOT 12.5 call
$TSLA 265 call
#coveredcallss
$AI BTC 9/15 35 call at .05. STO at 1.25. Should have closed stock before earnings
Economic Calendar 9/11 – 9/15
There are no “three bull” (market moving) items for Monday, Tuesday, or Friday. CPI report on Wednesday could be a mover if it varies much from estimate.
SPX risk reversal
#SPX1dte Trying again… this week the Upside Warning did NOT come trhough and we dropped. But it was not severe so I am still looking for a retest of the 4607 high of 7/27.
Sold to Open $SPX Sept 15th 4335/4315 put spreads, delta -.06
Bought to open Sept 15th 4570/4590 call spreads, delta +.06
Total debit -.10
This is a double sized position.
DG
Sold DG 09/15/2023 118.0/122.0 Bull Put Spreads at $0.53 Credit
Sold DG 09/15/2023 134.0/129.0 Bear Call Spreads at $0.27 Credit.
#OnlySpreads
SNOW
#ShortPuts – 80 percent 6 weeks early.
Bought to Close SNOW Oct 20 2023 130.0 Put @ .55 (sold for 2.87)
Risk off
#SPX1dte Closed call side for .30 by selling to open $SPX Sept 8th 4510/4490 put spreads for 19.70.
ADBE adjustment
With the stock at 569, rolled $ADBE Sep 15 465/455 bull put spread up to 540/530 for 2.03 credit. Position is now a 530/540/580/590 iron condor, with 4.77 total premium taken in. I will take this position off before the end of the day on Thursday 9/14 (earnings after the bell).
SPX same day
#SPX1dte Sold to Open $SPX Sept 8th 4395/4415-4490/4510 condors for 1.45, deltas -.09 +.07, IV 19.9%
Futures were dead flat when I was filled, so I went a little more aggressive on deltas than I normally do, since I’m only slightly profitable in this short week.
MA,
STO October 20, 400 puts at 4.15
GOOGL, BTO October 20, 130 calls at 8.50
HE
rolled HE 14.5 put/9.8.2023 to next Friday/credit .11 (.96 so far)
SPY
#ShortPuts – Early fill.
Sold SPY Oct 20 2023 425.0 Put @ 3.20
Risk off
#SPX1dte Took off downside risk for 0.25 by selling $SPX Sept 7th 4380/4400 call spreads for 19.75.
AMZN
ROLLED AMZN 132 call 9.8.2023 to next Friday/ 132 call .80 credit (9.52 so far)
SPY,
STO September 29, 419 put at 1.04
SPX same day
#SPX1dte Sold to Open $SPX 4380/4400-4485/4505 condors for 1.10, deltas -.07 +.07, IV 21%
AI Strangle
#earnings #shortstrangles
$AI STO 9/8 26/37 strangle at .81.
Some Risk off
#SPX1dte Bought to close $SPX Sept 8th 4390/4370 put spreads for .50. This is part of the #RiskReversal I placed last Friday for a -.10 debit. The long call side is failing, but I’m at downside risk on the put side so I took off HALF of the put position. I will leave the other half to either expire or get stopped out (this trade is double the size of my normal size).
TSLA
#CoveredCalls – Rolled to the week before earnings. If stock called away it will be a tiny profit. Might roll to earnings eventually…
Rolled TSLA Sep 15 2023 200.0 Call to Oct 13 2023 200.0 Call @ 2.25 credit (71.15 total now)
SPX stopped
#SPX1dte Bought to close $SPX Sept 6th 4445/4425 put spreads for 1.25. Condors sold this morning for .85
BOIL HE
Sold 1 BOIL Sep 8 2023 47/51.5 Bull Put Spread at $0.51 Credit
Sold HE Sep 8 2023 9.5/11.5 Bull Put Spreads at $0.17 Credit
#OnlySpreads
SPY,
STO October 20, 425 put at 2.20
SPX same day
#SPX1dte Sold to Open $SPX 4425/4445-4525/4545 condors for .85, deltas -.06 +.05, IV 18.6%
SPY TLT
#ShortPuts – A couple late fills.
Sold SPY Oct 20 2023 430.0 Put @ 2.50
Sold TLT Oct 20 2023 94.0 Put @ 2.10
SPXpire
#SPX1dte Expiring: $SPX Sep 5th 4445/4465-4540/4560 condors, sold this morning for 1.00.
Rolling out SNOW puts
Originally sold the $SNOW Sep 15 150 puts (for 5.15) to potentially go long. With the move up, I’m rolling the position out to Oct 20 150 puts (29 delta) @ 3.65 credit. Total premium taken in now 8.80.
Rolling up SHOP puts
Originally sold the $SHOP Sep 15 60 puts (for 3.48) to potentially go long. With the move up, I’m rolling the position up and out to Oct 20 65 puts (40 delta) @ 2.86 credit. Total premium taken in: 6.34.
DG
Sold DG Sep 08 2023 140.0 Calls at $0.20
Sold DG Sep 08 2023 139.0 Calls $0.30
Sold DG Sep 08 2023 138.0 Calls at $0.40
Sold DG Sep 08 2023 136.0 Calls at $0.50
All these against leftover long calls from last week
Sold DG 124/127 Bull Put Spreads at $0.60 Credit
#OnlySpreads
BOIL VXX UVXY
Sold BOIL Sep 08 2023 47/53.5 Bull Put Spreads at $0.80 Credit
Bought VXX Sep 15 2023 27.5 Calls / Sold VXX Sep 08 2023 22.0 Calls at $0.22 Credit
Bought VXX Sep 15 2023 27.5 Calls / Sold VXX Sep 08 2023 21.5 Calls at $0.37 Credit
Bought UVXY Sep 15 2023 25.0 Calls / Sold UVXY Sep 08 2023 15.0 Calls at $0.27 Credit
#OnlySpreads
HE
#shortputs
STO HE 8 SEP 2023 14.5 PUT @.85
Economic Calendar 9/4 – 9/8
SPX same day
#SPX1dte Sold to Open $SPX Sep 5th 4445/4465-4540/4560 condors for 1.00, deltas -.06 +.07, IV 18%
Upside Warning is reinstated
#VIXIndicator An Upside Warning took effect at the close Friday after three consecutive closes of $VIX below the 78.6 Fib line drawn from pre-correction low and correction high. This could mean higher prices in coming days or weeks.
This is the FOURTH Upside Warning we’ve seen WITHOUT any intervening Downside Warnings. That’s the first time that has happened in the 20+ years of tracking this indicator.
Here is data on last several Upside Warnings.
July 14, 2023: close on that day: 4,505. Subsequent high was 4,607 on July 27. 9 trading days, +2.3%
June 5, 2023: close on that day: 4,274. Subsequent high was 4,458 on June 30. 18 trading days, +4.3%
Mar 30, 2023: close on that day: 4,051. Subsequent high was 4,187 on May 1. 21 trading days, +3.4%
Nov 23, 2022: close on that day: 4,027. Subsequent high was 4195 on Feb 2. 47 trading days, +4.2%
Aug 5, 2022: close on that day: 4145. Subsequent high was 4325 on Aug 16. 7 trading days, +4.3%
Mar 29, 2022: (failed) close on that day: 4631. SPX did not go higher. UpW was canceled after 6 trading days
Dec 27, 2021: close on that day: 4791. Subsequent high was 4818 on Jan 4. 6 trading days, +0.6%
Oct 18, 2021: close on that day: 4486. Subsequent high was 4743 on Nov 22. 14 trading days, +5.7%
Aug 25, 2021: close on that day: 4496. Subsequent high was 4595 on Sep 2. 6 trading days, +1.1%
Aug 13, 2021: (headfake) close on that day: 4468. Subsequent high was 4480 the next day. Canceled the day after that.
May 28, 2021: close on that day: 4204. Subsequent high was 4393 on July 7. 31 trading days, +4.5%
Mar 15, 2021: close on that day: 3969. Subsequent high was 4238 on May 7. 40 trading days, +6.8%
Feb 5, 2021: close on that day: 3886. Subsequent high was 3950 on Feb 16. 6 trading days, +1.6%
Nov 11, 2020: close that day: 3585. Subsequent high was 3726 on Dec 18. 25 trading days, +3.9%
Closing SMCI
Bought to close $SMCI Sep 15 210/220/340/350 iron condor for .62. Sold for 2.65 on 8/9.
AMZN
#rolling
sept 1 to sept 8th 132 call/credit .32/total so far 8.72
SPY,
STO October 20, 440 puts at 4.01 for a small starter position and will add more on a pull back.
XBI
#CoveredCalls – Easing these up a little.
Rolled XBI Sep 01 2023 75.0 Calls to Oct 06 2023 75.5 Calls @ .30 credit (3.95 total now)
TLT
#ShortPuts #CoveredCalls – Picking up a little more credit and adding.
Rolled TLT Sep 15 2023 99.0 Calls to Sep 15 2023 97.5 Calls @ .17 credit (.57 total now)
Rolled TLT Sep 15 2023 99.0 Calls to Sep 15 2023 97.0 Calls @ .26 credit (.66 total now)
Sold TLT Oct 20 2023 95.0 Put @ 2.10
Sold TLT Oct 20 2023 96.0 Put @ 2.25
TQQQ,
STO October 20, 33 puts at .66 cents.
TQQQ, STO october 13, 35…
TQQQ, STO october 13, 35 puts at .74 cents.
August Jobs Report
#Jobs — Higher than expected, but downward revisions of past months and UE ticks up.
Gain of +187,000 non-farm payroll jobs, vs. expected gain of 170K
Unemployment up 0.2 to 3.7%, highest since Feb 2022
U6 unemployment 7.1%, up by 0.4
Labor force participation at 62.8%, up to pre-Covid levels
Average hourly earnings up by 0.2%; 4.3% increase over the year, each 0 .1 weaker than expected
July jobs revised down by -30K to +157K
June jobs revised down by -80K to +105K
SPX same day
#SPX1dte Sold 3 minutes after Jobs report release: $SPX 4455/4575-4570/4590 condors for 1.10, deltas -.07 +.06
Risk Reversal
#SPX1dte #RiskReversal
Sold to Open $SPX Sept 8th 4390/4370 put spreads
Bought to open Sept 8th 4620/4640 call spreads
Total DEBIT is -0.10. This is a double-sized position
SPXpire
#SPX1dte Expiring $SPX Aug 31st 4445/4465-4570/4590 condors, sold yesterday for 1.00.
Waiting until after the morning’s Job report before placing tomorrow’s trade.
TLT
#ShortPuts – Add to the Oct ladder.
Sold TLT Oct 20 2023 97.0 Put @ 2.20
Risk off
#SPX1dte Closed the add-on put spread effectively for .50, by selling the $SPX Aug 31st 4470/4490 call spread for 19.50
DG
Sold DG 09/01/2023 145/136 Bear Call Spreads at $0.33 Credit.
Sold DG 09/01/2023 144/137 Bear Call Spreads at $0.25 Credit.
#OnlySpreads
Bought 1 DG 09/08/2023 122.0 Put / Sold 1 DG 09/01/2023 128.0 Put at $0.80 Credit.
Bought 1 DG 09/08/2023 121.0 Put / Sold 1 DG 09/01/2023 129.0 Put at $0.91 Credit.
#DiagonalBullPut Spreads
XOMO
#smallbuy
BOT XOMO @20.01
TQQQ,
STO September 15, 38 puts at .42
SPX add-on
#SPX1dte Sold to Open $SPX Aug 31st 4490/4470 put spreads for 1.05, delta -.13
This is aggressive, but $VIX got below 14 and on track for a renewed Upside Warning.
BOIL Call
Sold 1 BOIL Sep 01 2023 75/69 Bear Call Spread at $0.37 Credit
Sold 1 BOIL Sep 01 2023 75/69.5 Bear Call Spread at $0.32 Credit
#OnlySpreads
Bought CPB 09/08/2023 38.00 Puts / Sold CPB 09/01/2023 41.00 Puts at $0.27 Credit
#DiagonalBullPut Spreads
SPX 1-dte
#SPX1dte Sold to Open $SPX Aug 31st 4445/4465-4570/4590 condors for 1.00, deltas -.07 +.05, IV 14.6%
Expiring: Condor sold yesterday and additional put spread sold this morning.
Options Bistro 