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

ULTA

#BullPutSpreads – Short a Jan 240 covered call so selling the other side now.

Sold ULTA JAN 17 2020 240.0/210 Bull Put Spread @ 2.36

AAPL Earnings

#BullPutSpreads #Earnings – Since the market is never going down again I’m going slightly bullish in AAPL earnings. Selling a slightly in the money put spread. If it tanks still getting in at a good basis…

Sold AAPL NOV 01 2019 245.0/240.0 Bull Put Spread @ 2.30