A lot of trades today, rolling down short calls. I started the week this morning with $22,516 in short call premium to collect. That provided a cushion for today, but of course it’s not a 100% hedge.
1. AMZN rolled the 1745 calls down to 1720 for this week, collecting $1661 on the original calls and another $7.25 on the new one.
2. Closed the SPX #UndieBear for $5090 profit, if you add Thursday’s $1290 profit onto this, that’s $6380 in 3 days. This was a small 2×1.
3. GS and QQQ: got the butterfly fill on my Put In/Out trades from about 10 days ago. This locks in partial profit and cuts risk on them. I start with a skip-strike in-and-out spread, then look to butterfly it w/ a broken wing for half the price of the first spread.
4. MU rolled down calls from 62 to 57.5 (25 delta) for $1523 profit on the original ones and an add’l $376 on the new.
5. TSLA closed out the put fly and put spread for around $80 profit I think, wanted to simplify book this morning.
6. SPY #Saf-T rolled Wed calls out to next wed, collected $1536 on this week’s calls. My protective puts on #Saf-T are up a collective $32,800. They are sentries for me right now.
7. MCD added a put diag to my #Undie to balance deltas and bring in some premium for next week, cuts risk.
Don’t get me wrong, big losses across the board here, but all these trades are easy for keeping your head on straight. Just collect the hedges and reset.