GME: Those railroad tracks look mighty tempting

I know I know, wait for the train to slow down before setting up a picnic on the tracks but I thought I’d put a few small, starter positions out there. Can’t wait to aggressively short this thing but we’re way too early for that. For now though:
Sold $GME 1/29 195 200 bear call spread @ 1.00
Sold $GME 2/19 190/200 bear call spread @ 1.50
Defined risk only of course.

#onlyspreads

SPY

#ShortPuts – Could be running up to resistance so booking the higher risk election play…

Bought to Close SPY NOV 20 2020 322.5 Put @ 1.20 (sold for 6.12)

#onlyspreads

BIIB

#ShortStrangles – Wild move with the announcment of the new drug. Have to admit I didn’t know that was in the pipeline. Was short 220 puts against a 315 call (2 puts x 1 call). Closing the short call for safety and letting the short puts ride. Will look for new put sales to make up the difference.

Bought to Close BIIB NOV 6 2020 315.0 Call @ 24.25 (12.30 premium received so loss of 11.95)

#onlyspreads

DRIP dropping

150 point swing so far

#neveragain, #onlyspreads

Saudis Plan Big Oil Output…

Saudis Plan Big Oil Output Hike, Beginning All-Out Price War.

How would this affect DRIP?

Saudi Arabia plans to increase oil output next month, going well above 10 million barrels a day, as the kingdom responds aggressively to the collapse of its OPEC+ alliance with Russia.
https://ca.finance.yahoo.com/news/saudis-plan-big-oil-output-225511711.html

#onlyspreads