Consumer prices rose 0.4% in September and were up 8.2% from a year ago. Expectation was 0.2% increase.
$SPX set to open at new low for 2022, lowest levels since November 2020.
$VIX doesn’t seem to care much, at least in pre-market.
Recent Updates Page 93
/ES
#Futures – Just for fun bought a few put butterflies for Friday expiration. Risk 350 to make 2150 per buttefly.
Bought /ES 3600/3550/3500 PUT @ 7.00
SPX 1-dte, into the storm
#SPX1dte Sold to Open $SPX Oct 13th 3380/3400-3750/3770 condors for 1.25, SPX at 3583, deltas -.03 +.04
Normally wouldn’t sell going into CPI report after last month’s volatile down day, but these strikes are far OTM and low delta, and still providing ample premium.
XBI BX Covered Calls
#coveredcalls
$XBI STO 10/21 82 calls at $1.10. Thanks for the reminder @fuzzballl
$BX BTC 10/14 93 call and STO 10/21 93 call at added credit of .72.
XBI
#ShortCalls – Adding a few selling against short puts.
Sold XBI OCT 21 2022 82.0 Calls @ 1.10
SPX closed
#SPX1dte Closed full condor for .25… now it’s only .10. Perfect day for neutral trader.
CPI report tomorrow
And today we get this preview… Futures were moving higher until this one dropped…
Wholesale prices rose 0.4% in September, more than expected as inflation persists
SPX 1-dte
#SPX1dte Sold to Open $SPX Oct 12th 3460/3480-3685/3705 condors for 1.40, SPX at 3587, deltas -.05 +.06
SPY
#CoveredCalls – Aggressive roll down to keep things interesting this week.
Rolled SPY OCT 14 2022 377.0 Call to OCT 14 2022 365.0 Call @ 2.10 credit (4.40 total now)
ARKK NVDA SOXL SPY TBT TQQQ XBI
ARKK: Another round of covered.
Bought to Close ARKK OCT 21 2022 47.0 Calls @ .05 (sold for 1.27)
Sold ARKK OCT 21 2022 38.5 Calls @ 1.04
NVDA: Overwriting quite a bit with profitable stops set on current positions. Taking a few off also.
Bought to Close NVDA OCT 14 2022 140.0 Calls @ .05 (sold for 1.02)
Sold NVDA OCT 21 2022 130.0 Calls @ 1.15
Sold NVDA OCT 21 2022 130.0 Calls @ 1.20
SOXL: Another round.
Bought to Close SOXL OCT 14 2022 12.0 Calls @ .01 (sold for .30)
Sold SOXL OCT 21 2022 10.0 Calls @ .27
SPY: Roll down for additional credit.
Rolled SPY OCT 14 2022 379.0 Calls to OCT 14 2022 370.0 Calls @ 1.55 credit (2.65 total now)
Rolled SPY OCT 14 2022 378.0 Calls to OCT 14 2022 370.0 Calls @ 1.00 credit (3.00 total now)
Rolled SPY OCT 14 2022 375.0 Calls to OCT 14 2022 370.0 Calls @ 1.10 credit (3.05 total now)
TBT: Adding.
Bought TBT JAN 17 2025 30.0 Put @ 6.50
TQQQ: Another round.
Bought to Close TQQQ OCT 14 2022 25.0 Calls @ .01 (sold for .44)
Sold TQQQ OCT 21 2022 21.0 Calls @ .60
XBI: Rolling calls down for additional credit.
Sold against a short put ladder:
Rolled XBI Oct 14 2022 88.0 Calls to Oct 14 2022 83.0 Calls @ .35 credit (1.00 total now)
Covered:
Rolled XBI OCT 14 2022 81.0 Calls to OCT 14 2022 79.0 Calls @ .60 credit (3.20 total now)
SPX 1-dte
#SPX1dte At 11 minutes into trading, sold $SPX Oct 11th 3495/3515-3655/3675 condors for 1.30, SPX at 3583, deltas -.06 +.05.
Don’t forget, September CPI report (inflation) released this Thursday at 8:30am ET
SPX 1 DTE At the Close
SPX 1-dte
#SPX1dte At 27 minutes into trading, sold to open $SPX 3545/3565-3690/3710 condors for 1.45. Deltas -.06 +.06
My first day on the new show so depending on my schedule, my trading and posting will be more limited.
NVDA SPY XBI
#ShortPuts #CoveredCalls – A little bit of both.
NVDA: Another round.
Bought to Close NVDA OCT 7 2022 130.0 Calls @ .05 (sold for 2.00)
Sold NVDA OCT 14 2022 133.0 Calls @ .95
Sold NVDA OCT 21 2022 135.0 Calls @ 1.60
SPY: Another round. Nice VIX pop this week. Premiums are better than last week for similar strikes even on a big down day.
Bought to Close SPY OCT 7 2022 369.0 Call @ .05 (sold for 4.85)
Bought to Close SPY OCT 7 2022 370.0 Call @ .05 (sold for 2.71)
Bought to Close SPY OCT 7 2022 372.0 Call @ .05 (sold for 2.20)
Bought to Close SPY OCT 7 2022 373.0 Call @ .05 (sold for 3.81)
Bought to Close SPY OCT 7 2022 374.0 Call @ .05 (sold for 1.95)
Bought to Close SPY OCT 7 2022 375.0 Call @ .05 (sold for 3.05)
Bought to Close SPY OCT 7 2022 375.0 Call @ .05 (sold for 3.15)
Bought to Close SPY OCT 7 2022 376.0 Call @ .05 (sold for 1.50)
Bought to Close SPY OCT 7 2022 377.0 Calls @ .05 (sold for 1.38)
Sold SPY OCT 14 2022 374.0 Call @ 2.20
Sold SPY OCT 14 2022 375.0 Calls @ 1.95
Sold SPY OCT 14 2022 375.0 Call @ 2.95
Sold SPY OCT 14 2022 376.0 Call @ 2.60
Sold SPY OCT 14 2022 377.0 Call @ 2.30
Sold SPY OCT 14 2022 378.0 Calls @ 2.00
Sold SPY OCT 14 2022 379.0 Calls @ 1.10
XBI: Roll and add.
Rolled XBI OCT 7 2022 79.0 Calls to OCT 14 2022 81.0 Calls @ .10 credit (2.60 total now)
Rolled XBI OCT 7 2022 81.0 Put to OCT 14 2022 81.0 Put @ 1.70 credit (3.95 total now)
Sold XBI OCT 14 2022 80.0 Put @ 2.04
FED,
The new York FED, Williams, said that they ae shrinking their balance sheet rapidly and that long term interest rates are too low.
SPX stopped
#SPX1dte Stopped out of put side for 2.60. Let’s pretend today never happened.
#smallbuy Buy RYLD @ 19.06…
SPX 1-dte
#SPX1dte Driving in Northern California, managed to listen to CNBC coverage of Jobs Report on TuneIn radio, now stopped at a supercharger so I placed a trade.
#SPX1dte In pre-market, sold to Open $SPX Oct 7th 3610/3630-3800/3820 condors for 1.55. IV 50%, deltas -.07 +.04. I built the trade with +/-.06, but by the time it executed the market spiked down a bit, which is why deltas are off balance.
XBI
#ShortPuts #ShortCalls – Taking a little risk off for tomorrow and adding half size short calls for next week.
Bought to Close XBI OCT 7 2022 78.0 Puts @ .05 (sold for 1.13)
Bought to Close XBI OCT 7 2022 79.0 Puts @ .08 (sold for 1.50)
Bought to Close XBI OCT 7 2022 80.0 Put @ .17 (sold for 1.82)
Sold XBI OCT 14 2022 88.0 Calls @ .65
SPX 1-dte
#SPX1dte Expiring: $SPX Oct 6th 3665/3685-3860/3880 condors, sold yesterday for 1.45.
I am traveling back to LA tomorrow to start work on a new show. So no trade now, and not sure if I’ll be around in the morning to place a same-day. Look out for the JOBS report at 8:30am Eastern, 5:30am Pacific.
XBI
#ShortPuts – Looks pretty good this week so throwing a few out for next week.
Sold XBI OCT 14 2022 81.5 Puts @ 1.80
Sold XBI OCT 14 2022 82.0 Put @ 2.00
Sold XBI OCT 14 2022 82.5 Put @ 2.20
Sold XBI OCT 14 2022 83.0 Put @ 2.35
AAII Sentiment More Bearish Than Ever
This year however, they have been extremely bearish. Over 60% of respondents have said they are bearish 
TLT
#ShortStrangles – New position. Offset by long stock, covered calls, and short TBT in a different account.
Sold TLT NOV 18 2022 100.0/115.0 Strangles @ 2.63
SPX 1-dte
#SPX1dte … And on the third day, the market rested, and did NOT stop me out of my trade.
Expiring: Oct 5th 3655/3675-3860/3880 condors, sold yesterday for 1.25
Sold to open $SPX Oct 6th 3665/3685-3860/3880 condors for 1.45, SPX at 3781, IV 28%, deltas -.06 +.06
NVDA SOXL SPY TLT TQQQ
#ShortPuts #CoveredCalls – A few.
NVDA: Adding.
Sold NVDA OCT 14 2022 140.0 Calls @ 1.02
SOXL: Selling partial.
Sold SOXL OCT 14 2022 12.0 Calls @ .30
SPY: Roll out and down.
Rolled SPY OCT 7 2022 385.0 Put to OCT 14 2022 382.0 Put @ .40 credit (5.55 total now)
TLT: Roll down for additional credit.
Rolled TLT OCT 21 2022 110.0 Calls to OCT 21 2022 106.0 Calls @ .49 credit (1.18 total now)
TQQQ: Selling partial.
Sold TQQQ OCT 14 2022 25.0 Calls @ .44
#smallbuy Buy T @16.12 #exdiv…
NVDA SOXL TQQQ
#CoveredCalls – A lot of these were double writes and others just getting out of the way if this rally continues. Looking for higher strikes to sell next week.
NVDA:
Bought to Close NVDA OCT 7 2022 139.0 Calls @ .39 (sold for 1.35)
Bought to Close NVDA OCT 7 2022 140.0 Calls @ .29 (sold for 1.50)
SOXL:
Bought to Close SOXL OCT 7 2022 12.0 Calls @ .13 (sold for .25)
TQQQ:
Bought to Close TQQQ OCT 7 2022 24.0 Calls @ .24 (sold for .47)
Bought to Close TQQQ OCT 7 2022 25.0 Calls @ .08 (sold for .55)
SPX trades
#SPX1dte Sold to Open $SPX Oct 5th 3655/3675-3860/3880 condors for 1.25, SPX at 3778, IV 28.75%, delta -.06 +.06
Expiring: My 2nd attempt, Oct 4th 3710/3730-3835/3855 condors, sold this morning for 1.70. Loss on day: -.60
Trying Again
#SPX1dte Sold to Open $SPX Oct 4th 3710/3730-3835/3855 condors for 1.70, SPX at 3778 at 7:31am Pacific Time. IV 39.7%, deltas -.14 +.05
SPX 1-dte
#SPX1dte In pre-market, sold to open $SPX Oct 4th (same day) 3615/3635-3790/3810 condors for 1.70, IV 42.3%, deltas -.05 +.06
TSLA
#ShortPuts – Taking a shot the week before earnings.
Sold TSLA OCT 14 2022 220.0 Put @ 3.96
#onlyspreads Sto VERTICAL SPY 3…
#onlyspreads
Sto VERTICAL SPY 3 OCT 2022 367/368 CALL @.18/btc .09
#spy0dte
NVDA
#CoveredCalls – Added a couple.
Sold NVDA OCT 14 2022 135.0 Calls @ 1.40
SPX stopped
#SPX1dte Bought to close $SPX Oct 3rd 3695/3715 call spreads for .90. Sold this morning for 1.45.
#smallbuy Buy DX @11.50 #dividends
#smallbuy
Buy DX @11.50
#dividends
SPX 1-dte
#SPX1dte In pre-market, sold to Open $SPX Oct 3rd (same day) 3500/3520-3695/3715 condors for 1.45, IV 60.7%, deltas -.05 +.05
NVDA SPY XBI
NVDA: Adding a few.
Sold NVDA OCT 7 2022 130.0 Calls @ 2.00
SPY: Another round.
Bought to Close SPY SEP 30 2022 375.0 Calls @ .03 (sold for 6.25 and 8.10)
Bought to Close SPY SEP 30 2022 375.0 Call @ .02 (sold for 2.94)
Sold SPY OCT 7 2022 370.0 Call @ 2.71
Sold SPY OCT 7 2022 372.0 Call @ 2.20
Sold SPY OCT 7 2022 374.0 Call @ 1.95
Sold SPY OCT 7 2022 376.0 Call @ 1.50
Sold SPY OCT 7 2022 377.0 Calls @ 1.38
Sold SPY OCT 21 2022 380.0 Call @ 2.81
XBI: Letting some stock go at 78.00 (basis 69.85). Replacing with these:
Sold XBI OCT 7 2022 78.0 Puts @ 1.13
Sold XBI OCT 7 2022 79.0 Puts @ 1.50
Sold XBI OCT 7 2022 80.0 Put @ 1.82
Sold XBI OCT 7 2022 81.0 Put @ 2.27
And:
Bought to Close XBI SEP 30 2022 80.0 Calls @ .03 (sold for .64)
Sold XBI OCT 7 2022 79.0 Calls @ 2.50
SPX 1-dte
#SPX1dte No new trade…. this plunge in final minutes is a clear enough sign to WAIT until Monday.
Expiring: $SPX Sept 30th 3490/3510-3750/3770 condors, sold yesterday for 1.75.
NVDA SPY
#CoveredCalls – A few today.
NVDA:
Bought to Close NVDA SEP 30 2022 135.0 Calls @ .05 (sold for 1.30)
SPY:
Bought to Close SPY SEP 30 2022 377.0 Call @ .05 (sold for 2.30)
Bought to Close SPY SEP 30 2022 379.0 Calls @ .05 (sold for 1.75)
Bought to Close SPY SEP 30 2022 380.0 Call @ .05 (sold for 8.95)
Bought to Close SPY SEP 30 2022 385.0 Call @ .05 (sold for 2.33)
Sold part of some hedges:
Sold to Close SPY NOV 18 2022 300.0 Puts @ 2.06 (bought for 1.42)
SPX1dte
#SPX1dte Sold 6 minutes after closing bell: $SPX Sept 30th 3490/3510-3750/3770 condors for 1.75, SPX closed at 3640, IV 40.8%, deltas -.05 +.06
SPX stopped
#SPX1dte Well, my instincts were correct to wait until morning to sell, but in the end made little difference.
Bought to close $SPX Sept 29th 3590/3570 put spreads for 3.40. Condors sold for 1.45 this morning. First loss of the week.
Labor Data
Initial filings for unemployment claims fell last week to their lowest level in five months, a sign that the labor market is strengthening even as the Federal Reserve is trying to slow things down.
Jobless claims for the week ended Sept. 24 totaled 193,000, a decrease of 16,000 from the previous week’s downwardly revised total and below the 215,000 Dow Jones estimate, according to a Labor Department report Thursday.
The drop in claims was the lowest level since April 23 and the first time claims fell below 200,000 since early May.
Continuing claims, which run a week behind, fell 29,000 to 1.347 million.
The strong labor numbers come amid Fed efforts to cool the economy and bring down inflation, which is running near its highest levels since the early 1980s. Central bank officials specifically have pointed to the tight labor market and its upward pressure on salaries as a target of the policy tightening.
Despite the efforts, there was more bad news Thursday for the Fed on the inflation front.
The personal consumption expenditures price index, a favorite inflation gauge for the Fed, showed a 7.3% year-over-year price gain in the second quarter, the Commerce Department reported in its final GDP estimate for the period. That was above the 7.1% reading in the prior two Q2 estimates and just off the 7.5% gain in the first quarter.
Excluding food and energy, core PCE inflation was 4.7%, 0.3 percentage point higher than the previous two estimates but below the 5.6% jump in Q1.
The Fed has raised interest rates five times in 2022 for a total of 3 percentage points, and officials have stressed the importance of continuing to hike until inflation comes down closer to the central bank’s 2% target.
SPX 1-dte
#SPX1dte In pre-market, sold to open $SPX Sept 29th 3570/3590-3775/3795 condors for 1.45, IV 53.6%, deltas -.05 +.05
SOXL SPY TQQQ
#CoveredCalls – A few more last couple days.
Sold SOXL OCT 7 2022 12.0 Calls @ .25
Sold SPY OCT 7 2022 373.0 Call @ 3.81
Sold SPY OCT 7 2022 375.0 Call @ 3.05
Sold SPY OCT 7 2022 375.0 Call @ 3.15
Bought to Close TQQQ SEP 30 2022 27.0 Calls @ .02 (sold for .75)
Sold TQQQ OCT 7 2022 24.0 Calls @ .47
Sold TQQQ OCT 7 2022 25.0 Calls @ .55
SPX 1-dte
#SPX1dte No trade placed this afternoon, will wait for morning
Expired: $SPX Sept 28th 3515/3535-3740/3760 condors, sold for 1.60 yesterday.
SPX trades
#SPX1dte My stop was not hit, but I don’t trust this market… BTC $SPX Sept 27th 3590/3570 put spreads for .60. Condors sold this morning for 1.70.
VXX Call Profits
Liquidating some excess long calls left over from last weeks diagonal spreads
Sold VXX Oct 07 2022 25.0 Calls at $0.46. Bought at $.0.12 and $0.14
Sold VXX Oct 07 2022 25.5 Calls at $0.36. Bought at $.0.16
Sold VXX Oct 07 2022 28.0 Calls at $0.24. Bought at $0.06
#WinWin
Stocks
Bought at new lows:
IVZ at $14.44 Div = 5.06%
KEY at $16.00 Div = 4.84%
NWL at $14.19 Div = 6.44%
OGN at $25.00 Div = 4.45%
TFC at $43.00 Div = 4.79%
VNO at $22.87 Div = 9.08%
VTRS at $8.43 Div = 5.63%
Pulling most of my remaining buy orders except for SPY and QQQ
Bought SPY at $362.16
#Sp500 #FallingKnife
SPX 1-dte
#SPX1dte In pre-market, Sold to Open $SPX Sept 27th 3570/3590-3765/3785 condors for 1.70, IV 51.3%, deltas -.05 +.06
SPX trades
#SPX5dte Sold to close $SPX Sept 27th 3750/3770-3780/3800 condors for 19.15. Bought for 17.80 on Thursday.
#SPX1dte Expiring: Sept 26th 3525/3550-3800/3825 condors, sold Friday for 1.40.
No trade placed for tomorrow due to insufficient premium to get safely OTM. Will consider a same-day trade in the morning.
SOXL Puts
Sold SOXL Sep 30 2022 8.5 Diagonal Puts at $0.21, replacing last week’s SOXL 9.0 Puts covered at a penny on Friday
Markets
You know it’s a BEAR Market when:
75% of stocks are declining today
2630 new lows vs. 47 new highs today
Only 11% of stocks above their 50 day MA
Only 13% of stocks are above their 200 day MA
(Stats courtesy of Finviz.com)
FYI, Garman says it is…
FYI, Garman says it is time to go a little bit long so you can short the market again.
Stocks
A smaller list of tiny buys so far today:
VFC at $35.00 Div = 5.58%
IP at $32.00 Div = 5.58%
INTC at $27.00 Div = 5.30%
FDX at $144.00 Div = 3.08%
CE at $89.00 Div = 2.98%
#SP500 #FallingKnife
SLV Puts
Sold SLV Sep 30 2022 16.5 Diagonal Puts at $0.10 replacing SLV 17.0 Puts that expired Friday
VXX Long term Puts
Bought VXX Jan 20 2023 11.0 Puts at $0.10 to write more weekly puts against
#VXXContango
#coveredcalls #PBT Sto 17 MAR…
#coveredcalls
#PBT
Sto 17 MAR 2023 17.5 CALL @1.85
#smallbuy Buy T @15.85 Buy…
#smallbuy
Buy T @15.85
Buy CSSEP @22.01
Buy HPS @14.68
Buy VZ @39.02
#dividends
#smallbuy Buy CRF @7.99 #dividends
#smallbuy
Buy CRF @7.99
#dividends
TNA
Additional Calls
Sold TNA Sep 30 2022 34.0 Calls at $0.53 and $0.55
Sold TNA Sep 30 2022 34.5 Call at $0.43
TNA TQQQ VXX LABU Calls
Sold all these on the open replacing calls that expired Friday:
TNA Sep 30 2022 35.0 Call at $0.23
TNA Sep 30 2022 34.5 Call at $0.27
TNA Sep 30 2022 34.0 Call at $0.26
TQQQ Sep 30 2022 26.5 Calls at $0.06
TQQQ Sep 30 2022 26.0 Calls at $0.08
TQQQ Sep 30 2022 25.0 Calls at $0.19
TQQQ Sep 30 2022 24.5 Calls at $0.24
TQQQ Sep 30 2022 24.0 Calls at $0.33
VXX Sep 30 2022 22 Calls at $0.40, $0.42 and $0.44
LABU Sep 30 2022 8 Calls at $0.10
#CoveredCalls #OnlySpreads
SPY
#CoveredCalls – Reloading and rolling down slightly for additional premium.
Rolled SPY SEP 30 2022 385.0 Call to SEP 30 2022 375.0 Call @ 2.25 credit (8.10 total now)
Rolled SPY SEP 30 2022 389.0 Call to SEP 30 2022 375.0 Call @ 2.55 credit (6.25 total now)
Sold SPY SEP 30 2022 375.0 Call @ 2.94
Sold SPY SEP 30 2022 377.0 Call @ 2.30
Sold SPY SEP 30 2022 379.0 Calls @ 1.75
Downside WARNING FIRED
#VIXindicator A warning fired at the close today with the $VIX over 29.00. The last warning in April took 39 trading days before reaching the market low, about a 15% drop. Before that, this warning was not a great indicator in 2021, with many small drops & short-lived drops. This time, we have been dropping for weeks and it took awhile to finally fire.
Here are recent Downside Warnings for reference:
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%).
ired 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%).
VXX Calls
For next week
Sold VXX Sep 30 2022 23.0 Diagonal Calls at $0.45
Sold VXX Sep 30 2022 24.0 Diagonal Calls at $0.34
#OnlySpreads
SPY
#CoveredCalls – Just in case we bounce Monday taking some more off.
Bought to Close SPY SEP 30 2022 389.0 Calls @ .30 (sold for 12.75)
Bought to Close SPY SEP 30 2022 391.0 Call @ .20 (sold for 5.70)
OptionsExpiration
It’s a Bear Market.
Lots of Covered and Diagonal Calls expired in LABU, TNA, TQQQ and even in VXX (unexpected).
Some Puts were rolled down in TNA and TQQQ, and some calls rolled up in UVXY.
Puts in UVXY and VXX were major gainers. And plenty of VXX puts are still on the books for next week.
==Expired==
LABU 14/10.5 Bear Call Spreads
LABU 9.0 Covered Calls
SLV 17.0 Diagonal Puts
TNA 40/40.5/41 Covered Calls
TNA 41.5 Diagonal Call
TNA 48.5/42 Bear Call Spreads
TNA 50/42.5 Bear Call Spreads
TQQQ 27/27.5/28 Covered Calls
TQQQ 36/28.5 Bear Call Spreads
TQQQ 37.5/28 Bear Call Spreads
TQQQ 20.0 Diagonal Puts
TQQQ 19.5 Diagonal Put
UVXY 20.5/12 Bear Call Spreads
UVXY 9.5 Diagonal Puts — #UVXYContango
UVXY 9.0 Diagonal Puts — #UVXYContango
VXX 28/21.5 Bear Call Spreads
VXX 25/21 Bear Call Spreads
VXX 21.0 Diagonal Calls
VXX 20.5 Diagonal Calls
VXX 18.5 Diagonal Puts — #VXXContango
VXX 18.0 Diagonal Puts — #VXXContango
VXX 17.5 Diagonal Puts — #VXXContango
VXX 17.0 Diagonal Puts — #VXXContango
VXX 16.5 Diagonal Puts — #VXXContango
== Assignments==
None
SPX trades
#SPX1dte Sold to Open $SPX Sept 26th 3525/3550-3800/3825 condors for 1.40, SPX at 3691, IV 22.9%, deltas -.05 +.05. These are 25-points wide, as not all strikes available so low on the put side. Also went with 5 deltas rather than usual 6 for a bit more safety.
Week in review:
#SPX5dte one loss: -2.20
#SPX1dte: two losses, three wins: +0.70
Same day Fed trade, Friday revenge trade: 2 wins: +7.00
Total for week: +5.50
NVDA
#CoveredCalls – Taking off a few more after overwriting quite a bit.
Bought to Close NVDA SEP 30 2022 145.0 Calls @ .15 (sold for 1.40)
SOXL Puts closed and rolled
Bought to close SOXL Sep 23 2022 9.5 Puts at $0.01. Sold this morning at $0.19 for a scalp trade and on Monday at $0.17
Bought to close SOXL Sep 2022 10.0 Diagonal Puts at $0.18. Sold on Monday at $0.25.
Sold to open SOXL Sep 30 2022 9.0 Puts at $0.38 for a $0.20 Credit
State of the market
T2108: 11.30 (low of the day 9.96)
Fear and Greed Index: 21 (Extreme Fear)
VIX futures in backwardation (www.vixcentral.com)
XBI
#CoveredCalls – A tiny bounce so throwing a few more out next week.
Sold XBI SEP 30 2022 80.0 Calls @ .64
SPY
#CoveredCalls – Sold SPY OCT 7 2022 380.0 Call @ 3.10
SVXY
#BullPutSpreads – Hard to believe this thing is still near 50. Finally taking a hit today since we eased back into backwardation again finally. Taking a defined risk directional shot on it through end of year. Taking assignment is the plan if it keeps dropping.
Sold SVXY JAN 20 2023 60.0/50.0 Bull Put Spread @ 6.25
Stocks
As markets test the June 2022 lows I’m making tiny buys on Higher dividend payers. Biggest one day buying since then.
When SPY and QQQ reach their old lows, I’ll switch to those stocks and suspend most other buys.
LYB at $72.00
PARA at $20.00
DLR at $104.00
STX at $58.00
OGN at $26.00
USB at $42.00
PRU at $89.00
T at $16.00
PKG at $114.10
CFG at $34.00
WHR at $139.53
LUMN at $8.00
FRT at $89.18
CMCSA at $32.00
CFG at $34.00
LNC at $44.00
DD at $51.50
SWK at $80.00
RL at $86.00
IVZ at $15.20
MMM at $113.17
SPG at $90.76
#SP500 #FallingKnife
NVDA SPY TLT XBI
#CoveredCalls – My apartment building lost a little value this week but the tenants still have to pay me. LOL!
NVDA: A few adds this morning.
Sold NVDA OCT 7 2022 139.0 Calls @ 1.35
SPY:
Bought to Close SPY SEP 23 2022 380.0 Call @ .01 (sold for 8.40)
Bought to Close SPY SEP 23 2022 385.0 Call @ .01 (sold for 8.65)
TLT: Bought, sold, rolled
Bought to Close TLT SEP 23 2022 109.5 Calls @ .01 (sold for .45)
Sold TLT OCT 21 2022 110.0 Calls @ .90
Rolled TLT SEP 23 2022 110.0 Put to TLT OCT 21 2022 110.0 Put @ .80 credit (4.15 total now)
XBI: My second biggest position after SPY. Letting all covered calls expire. Not much premium in them since I spent it on some debit rolls…but frees up a lot of shares for new call sales.
EDIT: One add on some of the lower basis shares.
Sold XBI SEP 30 2022 78.0 Calls @ 1.02
Options Bistro 