#ShortPuts – 80 percent 6 weeks early.
Bought to Close SNOW Oct 20 2023 130.0 Put @ .55 (sold for 2.87)
Recent Updates Page 84
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.
Earnings After Hours COST CRWD CRM
A few notable earnings reports will drop after markets close in New York, including software giant Salesforce, cybersecurity firm Crowdstrike and retailer Costco Wholesale.
XBI
#ShortPuts – Bought to Close XBI Sep 01 2023 77.5 Put @ .08 (sold for 1.50)
DLR
Bought 1 DLR Sep 08 2023 137 call/ Sold 1 DLR Sep 01 2023 133 Call at $0.22 Credit
#DiagonalBearCall Spread
VIXspire
My short VIX 08/30/2023 24/20 Bear Call Spreads expired on the open this morning.
Sold VIX 09/06/2023 13/14 Bull Put Spreads at $0.18
SPX 1-dte
#SPX1dte I wasn’t able to post yeterday, but around 12:30 PT…
Sold to Open $SPX Aug 30th 4420/4440-4545/4565 condors for 1.05, deltas -.07 +.06
DLR
Sold 1 DLR Sep 01 2023 137/132 Bear Call Spread at $0.37 Credit
#OnlySpreads
NVDA BOIL ILMN
Bought 1 NVDA 09/08/2023 560 Call / Sold 1 NVDA 09/01/2023 520 Call at $0.37 Credit
#DiagonalBearCall Spread
Sold BOIL 46/54 Bull Put Spreads at $0.42 Credit.
Sold ILMN 09/01/2023 172.5/167.5 Bear Call Spreads at $0.30 Credit
#OnlySpreads
TLT
#ShortPuts – Taking a couple more off on the bounce.
Bought to Close TLT Sep 15 2023 92.0 Put @ .19 (sold for 1.62)
Bought to Close TLT Sep 15 2023 95.0 Put @ .69 (sold for 2.25)
SPY
#ShortPuts – Taking some decent profits on the big bounce.
Bought to Close SPY Sep 15 2023 415.0 Puts @ .31 (sold for 1.50 and 2.15)
Bought to Close SPY Sep 15 2023 420.0 Put @ .43 (sold for 2.15)
Bought to Close SPY Sep 15 2023 425.0 Puts @ .60 (sold for 2.50)
Bought to Close SPY Sep 15 2023 430.0 Put @ .89 (sold for 3.26)
Bought to Close SPY Sep 22 2023 425.0 Put @ 1.12 (sold for 2.86)
Bought to Close SPY Oct 20 2023 410.0 Put @ 1.49 (sold for 3.15)
HE
#shortputs
STO HE 1 SEP 2023 13 PUT @.65
MARA
#coveredcalls
STO MARA 8 SEP 2023 16 CALL @.14
MMM NVDA Bear Call
MMM Sep 01 2023 112/108 Bear Call Spread at $0.44 Credit
NVDA Sep 01 2023 535/515 Bear Call Spread at $0.73 Credit
#OnlySpreads
SPX roll
SPX stopped
#SPX1dte BTC $SPX Aug 29th 4465/4485 call spreads for 1.95. Played with fire by going with 8-deltas today. Will probably sell something else in a little while once we see if this rally has more steam.
NVDA TQQQ VIX
Sold 1 NVDA Sep 01 2023 525/502.50 Bear Call Spread at $0.81 Credit.
Sold 1 NVDA Sep 01 2023 530/507.50 Bear Call Spread at $0.87 Credit.
Paired with yesterday’s Bull Put spreads so no additional margin required.
Bought TQQQ 09/08/2021 44.5 Calls / Sold TQQQ 09/01/2023 41.5 Calls at $0.27 Credit
#DiagonalBearCall Spread
Sold VIX Sep 06 2023 13.5/14.5 Bull Put Spreads at $0.12 Credit
#OnlySpreads
SPX same day
#SPX1dte Sold to Open $SPX Aug 29th 4370/4390-4465/4485 condors for 1.387, deltas -.08 +.08, IV 20.5%
SNOW Puts
Adding 1 more tighter spread
Sold 1 Sep 01 2023 136/141 Bull Put Spread at $0.47 Credit
#OnlySpreads
AI PENN Calls
#coveredcalls
$AI STO 9/1 30.5 call at .46
$PENN STO 9/1 24 call at .32 Sold against stock put to me on Friday
BOIL
Sold BOIL Sep 01 2023 50/54 Bull Put Spreads at $0.35 Credit
Sold 1 BOIL Sep 01 2023 77/72 Bear Call Spread at $0.50 Credit
Sold 1 BOIL Sep 01 2023 78/73 Bear Call Spread at $0.39 Credit
#OnlySpreads
MARKETS
Today’s sale of $45 billion in 2Y government paper stopped at a high yield of 5.024%, the first auction pricing north of 5% since July 2006.
#InterestRates
AMZN BBY CPB DG NVDA SNOW Puts
Sold 1 AMZN Sep 01 2023 123/129 Bull Put Spread at $0.44 Credit
Sold 1 BBY Sep 01 2023 60/65 Bull Put Spread at $0.22 Credit #Earnings
Sold 1 CPB Sep 01 2023 39/41 Bull Put Spread at $0.32 Credit #Earnings
Sold DG Sep 01 2023 130/140 Bull Put Spreads at $0.85 Credit #Earnings
Sold 1 NVDA Sep 01 2023 402.5/422.5 Bull Put Spread at $1.20 Credit
Sold 1 SNOW Sep 01 2023 135/142 Bull Put Spread at $0.46 Credit
#OnlySpreads
SPX same day
#SPX1dte Sold to Open $SPX Aug 28th 4350/4370-4460/4480 condors for 1.10, deltas -.06 +.06, IV 21.1%
Economic Calendar for 8/28 – 9/1
BOIL
Rolled 1 BOIL Aug 25 2023 60.5 Put to 1 BOIL 09/01/2023 56.0 Put at $0.51 Credit
Rolled 1 BOIL Aug 25 2023 59.0 Put to 1 BOIL 09/01/2023 55.0 Put at $0.40 Credit
Sold 1 BOIL Sep 01 2023 76/71 Bear Call Spread at $0.35 Credit
#OnlySpreads
UVXY VXX BOIL
Sold UVXY Sep 01 2023 30/23.5 Bear Call Spreads at $0.12 Credit
Sold VXX Sep 08 2023 33/28 Bear Call Spreads at $0.41 Credit
Sold 1 BOIL Sep 01 2023 75/70 Bear Call Spread at $0.35 Credit
#OnlySpreads
AMZN
#shortputs
STO AMZN 1 SEP 2023 132 PUT @1.86
SPX same day
#SPX1dte Sold to Open $SPX 4300/4320-4460/4480 condors for 1.20, deltas -.05 +.05, IV 33.1%
IV & premium elevated since Powell will be speaking at Jackson Hole at 10am ET
AMZN
#rolling
rolled 132 call ,8/25/2023 to 9/01/2023 –credit 1.40 (8.40 so far)
late yesterday, market EOD.
