WYNN

#BullPutSpreads – In a nice squeeze and looks strong. MGM breaking out and LVS and PENN strong. But…for risk reduction selling a spread in case of an implosion. At least I’ll get it at a nice basis no matter how low it goes on a pullback.

Sold WYNN JUL 17 2020 100.0/90.0 Bull Put Spread @ 5.30

NVDA SPY TNA

#CoveredCalls #BullPutSpreads #Earnings

NVDA: Earnings down to the wire but went out worthless
MAY 22 2020 360.0/355.0 Bull Put Spread @ 2.65 (expired)

SPY: Down to the wire but had to roll (covered)
Rolled SPY MAY 22 2020 295.0 Call to MAY 27 2020 295.0 Call @ 2.20 credit (4.65 total now)

TNA: Rolled out a week and up a little (covered)
Rolled TNA MAY 22 2020 20.0 Calls to MAY 29 2020 20.5 Calls @ .12 credit

NVDA Earnings

#BullPutSpreads – Wouldn’t mind owning this but would like to see it implode a little. Selling ITM bull put spread for upside gain but a decent ownership basis if it does tank.

Sold NVDA MAY 22 2020 360.0/355.0 Bull Put Spread @ 2.65

Not much else going on…just letting things work.

SPCE Earnings

#BullPutSpreads #Earnings – Jumping back into this one after stock getting called away over the weekend. Earnings not until tomorrow afternoon but with the stock down a little today I’m selling early.

Sold SPCE MAY 8 2020 19.0/16.0 Bull Put Spreads @ 1.80

JPM

#BullPutSpreads #Earnings – Will take the stock if I have to but spreading it for now until I can get a little more out of my GILD, T, XBI, and XOP positions in same account.

Thanks @Iceman and @thomberg1201 for the earnings reminder.

Sold JPM APR 17 2020 92.5/80.0 Bull Put Spreads @ 1.16

SPCE

Original trade:

#BullPutSpreads #Earnings – Selling slightly in the money. If I get lucky and the stock goes up it’ll be a nice winner. On the other hand, no matter how far it drops I’ll own stock about 1.70 below my basis which can be more than made up in one week of call selling with the extreme premium on this thing.

Sold SPCE FEB 28 2020 41.0/36.0 Bull Put Spreads @ 3.30

So…closing the long puts for the gains and letting the shorts get exercised. Non taxable account so selling the covered calls early using spreads. Yesterday bought puts to protect the position from anything crazy. Selling aggressively to reduce basis as quickly as possible during this high volatility.

Sold to Close SPCE FEB 28 2020 36.0 Puts @ 12.40
Sold SPCE MAR 6 2020 22.0/52.0 Bear Call Spreads @ 3.70

Bought 7x size SPCE JUL 17 2020 5.0 Puts @ .10

All said and done own the stock at 21.60 basis covered at 22 next week….whew!

SPCE Earnings

#BullPutSpreads #Earnings – Selling slightly in the money. If I get lucky and the stock goes up it’ll be a nice winner. On the other hand, no matter how far it drops I’ll own stock about 1.70 below my basis which can be more than made up in one week of call selling with the extreme premium on this thing.

Sold SPCE FEB 28 2020 41.0/36.0 Bull Put Spreads @ 3.30

ROKU

#BullPutSpreads – This should be a couple weeks before next earnings…

Sold ROKU FEB 7 2020 120.0/100.0 Bull Put Spreads @ 2.15

ISRG SOXL SQ ULTA VIX

#ShortPuts #BullPutSpreads #BullCallSpreads #CoveredCalls – A few this morning…

ISRG: Selling the week before earnings outside the expected move and well below the 50 ma almost at the 200ma.
Sold ISRG JAN 17 2020 550.0 Put @ 2.80

SOXL: Finally back in this one.
Sold SOXL Jan 17 2020 230.0 Put @ 3.20
Sold SOXL Feb 21 2020 200.0 Put @ 5.50

SQ: Staying aggressive with the covered sales.
Bought to Close SQ JAN 3 2020 64.0 Calls @ .05 (sold for 1.52)
Sold SQ JAN 10 2020 62.5 Calls @ 1.30

ULTA: Stopped out at tiny profit on an extra sale against stock.
Bought to Close ULTA JAN 17 2020 240.0/210.0 Bull Put Spread @ 2.32 (sold for 2.36)

VIX: Taking off the long side of the double vertical. Holding short put spreads to keep some long volatility.
Sold to Close VIX JAN 22 2020 15.0/18.0 Bull Call Spreads @ .80 (original trade put on for a .05 credit)

AAL

#BullPutSpreads – Some guys in our union forum were debating the pros and cons about our outlook for next year. Have to say I’m on the fence. Lots of labor contract negotiations going on but fleet renewal will be winding down so maybe some debt reduction possible with the cash flow now. I suggested a low risk way to get long so since I suggested it I had to do it myself.

Going with an ITM bull put spread out a few months. Here’s my post from that forum:

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I’m as bearish as the next guy on airlines but I’m taking a small shot with low risk…

Sold 5 AAL MAY 15 2020 35.0/30.0 Bull Put Spreads @ 3.75

What now?

1. Stock rallies above 35 by expiration full profit of $1875
2. Stock implodes then I’ll own 500 shares at a basis of 1.25 above wherever the stock ends up (in this case lower the better)
3. Stock goes to zero I’ll lose $625
4. Anything above 31.25 at expiration makes money or a near term rally makes money also