Options trade : SPY bearish trade

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Wed. 1/5/2022 (11:27 am, PT)

buy +1 Feb 18, 2022 $530 call at $0.05 (prob ITM 0.58%)

sell -1 Feb 18, 2022 $495 call at $1.22 (prob ITM 12.37%)

• net credit:  $1.17
• FOMC minutes at 11 am (PT)
• right after the minutes were published, SPY dropped $9
• 44 DTE
• overbought
• at the time of this trade, SPY was down $3.61 at $473.94

Fri. 1/7/2022 (7:37 am, PT)

bought back entire call spread at $0.50

NET PROFIT:  $64.34 (in 2 days)

Reasons for closing the trade:

• I achieved my goal of 50% of "max profit"
• protect my capital
• remove the risk
• there were still 42 DTE

Options trade : ARK Innovation ETF (ARKK) bearish trade

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Wed. 1/5/2022

buy +1 Feb 18, 2022 $115.22 call at $0.37 (prob ITM 5%)

sell -1 Feb 18, 2022 $101.22 call at $1.47 (prob ITM 17%)

• net credit:  $1.10
• oversold
• big down-day
• 44 DTE

Wed. 1/12/2022

buy back entire call spread at $0.50

NET PROFIT:  $57.34

Options trade : JP Morgan Chase (JPM) bullish trade

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Tue. 3/8/2022

sell -1 April 22, 2022 $95 put at $0.84

• probability ITM:  10%
• JPM = $129.05 (-0.16)
• oversold
• 45 DTE

Tue. 4/12/2022

buy back short put at $0.03

NET PROFIT:  $80.33 (in 35 days)

Reasons for closing trade:

• take profits
• JPM is reporting earnings before market open on 4/13/2022 

Options trade : Biotech Sector ETF (XBI) bearish trade

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Thu. 1/13/2022

buy +2 Feb 18, 2022 $128 calls at $0.09 (prob ITM 2%)

sell -2 Feb 18, 2022 $111 calls at $1.19 (prob ITM 16.46%)

• net credit:  $1.10
• XBI = $99
• 36 DTE
• oversold

NOTE:

I don't normally place semi-bearish trades when the underlying security is "oversold."  However, in this case, XBI seemed to be trending down.

Mon. 2/7/2022

buy back both short calls ($111 strike) at $0.05 to remove the risk

let the long calls ($128 strike) expire

NET PROFIT:  $207.34 (25 days)

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Options trade : Draftkings (DKNG) bearish trade

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Thu. 1/20/2022

buy +1 Jan 21, 2022 $22 put at $1.10

sell -1 Jan 21, 2022 $21 put at $0.45

• net debit: $0.65
• oversold
• 1 DTE

Fri. 1/21/2022 (12:35:15 pm, PT) (expiration)

sell (to close) entire put spread for $1.00 (see NOTE below)

NET PROFIT:  $32.35 (1 day)

NOTE:

I was pleasantly surprised that I was able to get the full (max) value for this put spread even though I still had 25 minutes left until expiration!  Thanks, market makers!

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Options trade : Ultra-VIX ETF (UVXY) bullish trade

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Wed. 1/5/2022

sell -1 Feb 18, 2022 $11 put at $1.36 (prob ITM 45%)

buy +1 Feb 18, 2022 $8 put at $0.14 (prob ITM 14%)

• net credit:  $1.22
• margin:  $300
• oversold
• 44 DTE

Tue. 1/25/2022

buy back the entire spread at $0.34

NET PROFIT:  $85.35

Reasons for closing trade:

• overbought
• 24 DTE
• UVXY = $19

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Options trade : Ultra-VIX ETF (UVXY) bullish trade

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Wed. 2/9/2022

sell -1 April 14, 2022 $10 put at $1.61

• probability ITM (assignment):  48%
• UVXY = $12.415 (-.675)
• oversold
• 64 DTE

Fri. 2/25/2022

Close the trade and take profits

bought back short put at $0.38

NET PROFIT:  $121.68

Reasons for closing trade:

• take profits!
• UVXY is now overbought
• we've achieved our goal
• the put still has a 19% probability of assignment
• UVXY = 16.47

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Options trade : AirBnB (ABNB) bearish trade

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Wed. 2/23/2022

buy +1 March 4, 2022 $185 call at $0.12 (prob ITM 1.70%)

sell -1 March 4, 2022 $167.50 call at $1.13 (prob ITM 13%)

• ABNB = $150.83 (-14.41)
• margin:  $621
• net credit:  $1.01
• 37 stochastics (and dropping)
• 9 DTE

Mon. 2/28/2022

With 4 days remaining, it's time to close our trade and take profits

buy back entire call spread at $0.45 (debit)

NET PROFIT:  $53.34 (2 days)

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Options trade : SPX bullish trade

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Tuesday, 3/1/2022

sell -1 March 2, 2022 4120 put at $2.60 

buy +1 March 2, 2022 4070 put at $1.10

• net credit:  $1.50
• SPX = 4289.78 - 4293.49 (-83)
• 1 DTE

Wednesday, 3/2/2022 (expiration)

buy back short put (4120 strike) only at $0.05 to remove the risk

let long put expire

NET PROFIT:  $142.02

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Options trade : Gilead Sciences (GILD) bullish trade

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Friday, 2/11/2022

sell -1 March 18, 2022 $57.50 put at $0.82

• prob ITM: 24%
• GILD = $62.33 (+0.54)
• oversold
• 35 DTE

Monday, 3/7/2022 (11 DTE)

GILD is now overbought, so it's time to close the trade and take our profits

bought back short put at $0.35

NET PROFIT:  $45.68

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Options trade : SPX bearish trade

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Thu. 3/10/2022

buy +1 March 11, 2022 4405 call at $0.20 (prob ITM 0.94%)

sell -1 March 11, 2022 4360 call at $1.40 (prob ITM 5.10%)

• net credit: $1.20 x 1 x 100 = $120
• 1 DTE
• margin:  $4388
• SPX = 4260.65 (-17.23)

Fri. 3/11/2022 (expiration)

buy back 4360 call at $0.05 to remove the risk

let long call expire worthless

SPX settled at 4204.51

NET PROFIT:  $112.12 (1 day)

Option trade : General Mills (GIS) bullish trade

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Wed. 6/23/2021

sell -1 August 20, 2021  $57.50 put at $1.20

• prob ITM: 37.58%
• oversold
• 58 DTE
• earnings release on June 30 before market open

Wed. 8/11/2021

buy back short put at $0.20

NET PROFIT:  $98.67 (49 days)

Reasons for closing trade:

• take profits
• avoid assignment
• 9 DTE
• stochastics at 47
• GIS = $58.81
• prob ITM:  16%

NOTE:  On August 20, 2021 (expiration), GIS closed at $60.30.

Option trade : Dow Jones Industrial Average ETF (DIA) bullish trade

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Thu. 6/17/2021

sell -1 July 16, 2021 $320 put at $1.29

• prob ITM: 15%
• DIA = $338.81 (-1.95)
• oversold
• 29 DTE

Fri. 7/2/2021

buy back short put at $0.10

NET PROFIT:  $117.68 (15 days)

Reasons for closing trade:

• take profits
• avoid assignment
• overbought
• 14 DTE
• DIA = $348 (+1.80)

Option trade : Energy Sector ETF (XLE) bullish trade

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Wed. 5/26/2021

sell -1 June 18, 2021  $51 put at $1.00 (prob ITM 40%)

buy +1 June 18, 2021  $42 put at $0.10 (prob ITM 5%)

• net credit:  $0.90 x 1 x 100 =  $90
• XLE =  $52.17
• margin:  $900
• 23 DTE

Wed. 6/2/2021

buy back entire put spread for $0.20 (debit)

NET PROFIT:  $67.35 (8 days)

Reasons for closing trade:

• overbought
• 15 DTE
• take profits
• protect my capital

Option trade : Tech Sector ETF (XLK) bullish trade

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Wed. 5/19/2021 (12:02 pm, PT)

sell -1 June 18, 2021 $128 put at $2.04

• prob ITM:  32%
• XLK = $133.39 (-0.51)
• FOMC minutes at 11 am, PT
• 30 DTE
• oversold

Fri. 6/4/2021

buy back short put at $0.13 to remove the risk

NET PROFIT:  $189.67 (16 days)

Reasons for closing trade:

• overbought
• 14 DTE
• take profits

Option trade : ARK Innovation ETF (ARKK) bullish trade

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Mon. 5/17/2021

sell -1 June 18, 2021 $82.96 put at $1.12

• ARKK = $103.25 (-1.06)
• prob ITM:  15%
• 32 DTE
• oversold

Fri. 5/28/2021

buy back short put at $0.15 to remove the risk

NET PROFIT:  $95.68 (11 days)

Reasons for closing trade:

• 21 DTE
• ARKK is overbought

Option trade : Match Group (MTCH) bullish trade

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Mon. 5/17/2021

sell -1 June 18, 2021  $120 put at $1.07

• prob ITM:  13.45%
• MTCH = $139.44 (-2.75)
• oversold
• 32 DTE

Fri. 5/28/2021

buy back short put at $0.20 to remove the risk

NET PROFIT:  $85.68 (11 days)

Reasons for closing the trade:

• MTCH is overbought
• 21 DTE

Option trade : SPX bullish trade

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Tue. 5/11/2021

sell -2 May 14, 2021 3995 put at $4.23

buy +2 May 14, 2021 3945 put at $2.58

• net credit:  $1.65 x 2 x 100 =  $330
• margin:  $5000 - $6000
• 3 DTE

Fri. 5/14/2021 (expiration)

buy back short puts at $0.05 to remove the risk

let long puts expire

NET PROFIT:  $309.03

Option trade : SPX bullish trade

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Thu. 5/6/2021

sell -2 May 12, 2021 4020 puts at $5.77 (prob ITM 10%)

buy +2 May 12, 2021 3990 puts at $4.42 (prob ITM 8%)

• net credit: $1.35 x 2 x 200 =  $270
• SPX = 4172.37 (+4.78)
• margin:  $6000 - $7000
• 6 DTE

Wed. 5/12/2021 (expiration)

buy back short puts at $0.10

sell to close long puts at $0.05

PROFIT:  $260

Option trade : II-VI (IIVI) bullish trade

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Wed. 5/5/2021

sell -1 June 18, 2021 $55 put at $1.20

• prob ITM:  21%
• II-VI =  $65.21
• oversold stochastic
• 44 DTE
• earnings on 5/6/2021 before market open
• expected move after earnings: up/down $6.71

Thu. 5/27/2021

buy back short put for $0.15 to protect my profits

NET PROFIT:  $103.68 (22 days)