TSLA dump

#Earnings #Rolling Forced to close out my strange… the stock way overshot my target range of the 330’s on Friday.

BTC $TSLA Aug 24th 332.5/340 strangles for 31.28. Sold for 18.60 on Wednesday.

This is an ongoing roll campaign… should have just stuck with the short calls, but I didn’t think the drop would be this fast so the puts became the problem. Will decide how to reposition next week.

#earnings #shortstrangles EL Sold Sept….

#earnings #shortstrangles EL
Sold Sept. 21 120/150 for 1.71, only monthly expirations, high IV, prive hovering around 135.

EOG conversion to put #fuzzy…

EOG conversion to put #fuzzy

BTO the 2020 EOG 115 put at 13.00 creating the 115 calendar with short expiring 35 days.
cb now 11.2 since the initial sale brought in 1.8. Another #pietrade #earnings gone wrong/bad and managing before it get too far ITM. Will manage this from put side.

Other reason was to reduce margin requirements so I can stay in some other trades that are finally working out.

With 69 weeks left only need to cover 0.17 per week for zero cost basis.

#earnings I think I am…


I think I am done with earnings trades for a while. The option prices do not adequately reflect the volatility. Yes the premiums rise into earnings but the move is bigger than expected so you still end up losing.

AMAT which I had almost recovered from previous earnings down 6.2% so will probably take another 12 weeks to break even. Now will have to sell below cost basis so will have to watch any reversal closely.

WDC, Mu total crap. Both beat earnings and expectations and have traded down 11-14%. At least MU looks like it may have found a base.

I can get same results using SMH for the chips without getting burned on earnings.

Be happy I did not sell puts in NVDA or it would have gone the other way 🙂

Have a great weekend!

NVDA earnings closed

#Earnings BTC $NVDA Aug 17th 240 puts for .24. Sold for 2.43 yesterday.
BTC NVDA Aug 17th 240/235 put spreads for .15. Sold for .87 yesterday.

#earnings #ironcondor DE Sold Sept….

#earnings #ironcondor DE
Sold Sept. 21, 120/125/150/155 for 1.18, Deere is at 137

AMAT call closed

#PieTrades #Earnings.
BTC $AMAT Aug 17th 46.5 #CoveredCall for 1.97. Sold for 3.56 last week as a roll. Leaving my stock alone for earnings report tonight.