Options trading : US Oil Fund ETF (USO) semi-bullish trade

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11/15/2022

sell -1 Nov 18, 2022 $69 put @ $0.17

• probability ITM (assignment): 11% (low)
• USO:  $73.26
• 3 DTE

11/18/2022 (expiration)

USO closed at $69.03!  (just 3 cents above my strike price!!)

My short put expired "worthless"

PROFIT:  $17

NOTE:  It was totally crazy at the end.  The "bid" was $0.03 and the "ask" was $0.09 with just seconds remaining until the closing bell.  My buy-to-close limit order of $0.01 never filled!  Because USO kept hovering around my strike price of $69, I was willing to take the assignment.  That's the reason I refused to spend $9 to buy back my short put option.

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Options trading : Alphabet (GOOGL) semi-bullish trade

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10/31/2022

sell -1 Nov 4, 2022 $89 put at $0.22 (credit)

• probability ITM (assignment): 11%
• GOOGL:  $94.55
• 4 DTE

11/4/2022 (expiration)  🠈🠈  ROLL

buy (to close) 1 Nov 4 $89 put at $3.64

sell (to open) -1 Nov 18 $89 put at $4.69

net credit:  $1.05

Total credits received so far:  $1.27

NOTE:  I rolled my Nov 4 $89 put because I changed my mind regarding assignment.  I just wanted to give my trade two more weeks of time and collect another credit.

11/10/2022 (6:30 am, PT)  🠈🠈  8 DTE

buy back Nov 18 $89 put at $0.84 (debit)

NET PROFIT:  $40.35

NOTE:  I decided to buy back the Nov 18 put because I wanted to close the trade before expiration and walk away with a small profit.  The Universe gave me a second chance (i.e., GOOGL rose) so I took it.

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Options trading : ARK Innovation ETF (ARKK) semi-bearish trade

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11/17/2022

sell -3 Nov 25, 2022 $41 calls at $0.14

• 8 DTE
• probability of success: 90%
• ARKK = $37.24

11/22/2022

buy back all 3 short calls at $0.01 to remove the risk of assignment

PROFIT:  $39 (in 5 days)

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Options trading : SPX credit call spread (bearish)

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FREE OPTIONS TRADING LESSONS HERE.

11/2/2022 (12:58:13 pm, PT)

buy +1 Nov 3, 2022 4020 call at $0.07 (debit)

sell -1 Nov 3, 2022 3870 call at $1.12 (credit)  🠈🠈 prob ITM 4.30%

• net credit:  $1.05 ($105 per spread)
• SPX = 3764.58 (- 91.52)  🠈🠈 Wall Street reacted negatively after FOMC
• 1 DTE

11/3/2022 (6:30:16 am, PT)  🠈🠈  expiration

buy back the 3870 short call at $0.05 (debit)

PROFIT: $100 (in one day)

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Options trading : Kimberly Clark (KMB) semi-bullish trade

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FREE OPTIONS TRADING LESSONS HERE.

8/29/2022

sell -1 Oct 21, 2022 $120 put at $1.30 (credit)

10/21/2022 (exp)  🠈🠈  ROLL 

Why Roll?

• KMB dropped to $113.96 (my put was ITM)
• my friend did not want to get assigned
• my friend wanted to collect another credit

Here's the roll:

buy (to close) the Oct 21, 2022 $120 put at $6.35 (debit)

sell (to open) a Nov 18, 2022 $120 put at $7.15 (credit)

Roll for a net credit of $0.80

Credits collected so far:  $1.30 + $0.80 =  $2.10

Translation:

If I buy back the Nov 18 put at $2.10, I will break even.

If I buy back the Nov 18 put for less than $2.10, I will have a profit.

10/31/2022 (12:26 pm, PT) 🠈🠈  18 DTE

buy back the Nov 18 $120 put at $0.80 (debit) and take profits

Reasons for closing the trade:

• KMB was "overbought" again
• I was able to buy back the short put for less than $2.10
• take profits

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Options trading : Alphabet (GOOGL) semi-bullish trade

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9/21/2022 (12:03 pm, PT)

sell -1 Sept 23, 2022 $101 put at $1.00 (credit)

• prob ITM:  39% (a bit high)
• GOOGL = $102
• 2 DTE
• FOMC press conference at 11 am, PT

9/23/2022 (expiration) (ROLL #1)

roll Sept 23 $101 put to Sept 30 for $1.00 (credit)

9/29/2022 (1 DTE)  (ROLL #2)

roll Sept 30 $101 put to Oct 7 for $0.72 (credit)

NOTES:  I decided to roll on Sept 29 (1 day before exp) because my "extrinsic" value was getting too low and I did not want to get assigned.

10/7/2022 (expiration) (ROLL #3)

roll Oct 7 $101 put to Oct 14 for $1.12 (credit)

10/14/2022 (expiration)  (ROLL #4)

roll Oct 14 $101 put to Oct 21 for $0.65 (credit)

TOTAL CREDITS RECEIVED SO FAR:  $4.49

10/21/2022 (expiration)

buy back the Oct 21 $101 put at $0.10 and take PROFITS!

PROFIT:  $439 (in 4 weeks)

Side note:  GOOGL closed at $101.13 on Oct 21 (so close . . .)

Options trading : Amazon (AMZN) earnings play (semi-bullish)

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10/27/2022 (12:33:27 pm, PT)

sell -1 Oct 28, 2022 $85 put at $0.24 (credit)

• earnings announcement at 1 pm, PT today (Oct 27)
• AMZN = $111.30
• prob ITM = 4.69%
• 1 DTE
• market maker move =  up/down $11

10/28/2022 (expiration)

AMZN closed at $103.41 (see NOTES below)

My short put expired perfectly

PROFIT:  $24

NOTES:

Right after the earnings numbers were released on Oct 27, AMZN plunged all the way from $103.41 to $87.59!!  (after-hours market)

Today (expiration), AMZN rallied back up to $103.41.  Amazing.

Options trading : Alphabet (GOOGL) earnings play (semi-bullish)

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FREE OPTIONS TRADING LESSONS HERE.

10/24/2022

sell -1 Oct 28, 2022 $93 put at $0.70 (credit)

• earnings announcement on Oct 25
• 4 DTE
• prob ITM:  17%
• GOOGL = $101.66

10/28/2022 (expiration)

GOOGL closed at $96.29 (see Notes below)

My short put expired perfectly

PROFIT: $70

NOTES:

During the after-hours market yesterday (Oct 27), GOOGL traded as low as $90.38.  That was NOT fun!  However, today (expiration) GOOGL rallied back up!

Options trading : Amazon (AMZN) earnings play (semi-bullish)

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

10/26/2022 (12:40:40 pm, PT)

sell -1 Oct 28, 2022 $104 put at $0.70

• earnings on Oct 27 after 1 pm, PT
• 2 DTE

10/28/2022 (expiration)

AMZN closed at $103.41

Got assigned 100 shares of AMZN at $104/share

Options trading : Apple (AAPL) earnings play (semi-bullish)

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FREE OPTIONS TRADING LESSONS HERE.

10/27/2022 (12:38 pm, PT)

sell -1 Oct 28, 2022 $130 put at $0.48 (credit)

• earnings announcement at 1 pm, PT on Oct 28 (the next day)
• 1 DTE
• AAPL = $145.11
• prob ITM = 10%
• market maker move:  up/down $7.71

10/28/2022 (expiration)

AAPL closed at $155.74 (up $11!!)

My short put expired perfectly

PROFIT:  $48 (in 1 day)

Options trading : Alphabet (GOOGL) earnings play (semi-bullish)

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

10/25/2022 (12:31:26 pm, PT)

sell -1 Oct 28, 2022 $95 put at $0.53

• earnings announcement at 1 pm, PT today
• prob ITM:  13.51%
• GOOGL = $104.60
• market maker move:  up/down $5.90
• 3 DTE

10/28/2022 (11:35:50 am, PT)  🠈🠈  Expiration

buy back the short put at $0.02 to remove the risk of assignment

PROFIT:  $51 (in 3 days)

Options trading : US Oil Fund ETF (USO) semi-bullish trade

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

10/24/2022

sell -1 Oct 28, 2022 $66 put at $0.22 (credit)

• prob ITM (assignment):  13%
• USO = $70.22

10/28/2022 (expiration)

USO closed at $72.82

My short put expired perfectly

PROFIT:  $22 (in 4 days)

Options trading : Alphabet (GOOGL) semi-bullish trade

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

8/29/2022 

sell -1 Oct 21, 2022 $100 put at $2.25 (credit)

• prob ITM (assignment) = 27%

10/21/2022 (12:03 pm, PT)  🠈 expiration

buy back the short put at $0.10 to remove the risk of assignment

PROFIT:  $215

NOTES:

GOOGL closed at $101.13 (too close for comfort . . . that's the reason I chose to spend $10 to buy back my short put)

Options trading : SPX credit call spread (bearish)

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FREE OPTIONS TRADING LESSONS HERE.

10/20/2022 (12:53 pm, PT)

buy +1 Oct 21, 2022 3840 call at $0.07 (debit)

sell -1 Oct 21, 2022 3770 call at $1.17 (credit) 🠈 prob ITM 5%

• net credit:  $1.10 ($110 for one spread)
• 1 DTE
• SPX = 3671.14 (-24.02)

10/21/2022 (12:49:55 pm, PT)  🠈 expiration

buy back the 3770 short call at $0.10 to remove the risk

PROFIT:  $100 (in one day)

NOTES:

SPX settled at 3752.75 (+86.97), so my short call would have been fine.

However, it's always better to close the short option to remove the risk.

Options trading : SPX credit call spread (bearish)

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

10/19/2022 (12:56:44 pm, PT)

buy +1 Oct 20, 2022 3875 call at $0.05 (debit)

sell -1 Oct 20, 2022 3810 call at $0.75 (credit)

• net credit:  $0.70 ($70 for one spread)
• 1 DTE

10/20/2022 (6:36:33 am, PT)  🠈  expiration

buy back the 3810 short call at $0.05 to remove the risk

PROFIT:  $65 (in one day)

 

Options trading : SPX credit call spread (bearish)

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

10/18/2022 (12:50 pm, PT)

buy +1 Oct 19, 2022 3910 call at $0.05 (debit)

sell -1 Oct 19, 2022 3835 call at $0.65 (credit)

• net credit:  $0.60 ($60 for one spread)
• 1 DTE

10/19/2022 (6:51:19 am, PT)  🠈 expiration

buy back the 3835 short call at $0.05 to remove the risk

PROFIT:  $55 (in one day)

Options trading : SPX credit call spread (bearish)

   GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

10/27/2022 (12:59:10 pm, PT)

buy +1 Oct 28, 2022 3975 call at $0.07 (debit)

sell  -1 Oct 28, 2022 3915 call at $1.02 (credit)

• net credit:  $0.95 ($95 for each spread)
• 1 DTE
• SPX =  3805.65 (-24.95)
• prob ITM for 3915 short call = 4% 
• probability of success = 96%

10/27/2022 (1:11:56 pm, PT)  🠈  13 minutes later 

buy back the 3915 short call at $0.20 and take a quick profit

PROFIT:  $75 (in 13 minutes)

COMMENTS:

I was VERY surprised to see my call's premium drop so much in the after-hours market.  My initial plan was to buy back the short call at $0.05 sometime tomorrow (expiration day), but Wall Street gave me a surprise gift! 

Depending on what happens tomorrow (Oct 28), I may or may not reuse my long call ("wing") and sell (to open) another OTM call option.

For now, I am VERY happy that I made $75 in just 13 minutes!

Options trading : SPX credit call spread (bearish)

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FREE OPTIONS TRADING LESSONS HERE.

10/26/2022 (12:58:44 pm, PT)

buy +1 Oct 27, 2022 4000 call at $0.05 (debit)

sell -1 Oct 27, 2022 3920 call at $0.95 (credit)  🠈 prob ITM 5%

• net credit:  $0.90 ($90 per spread)
• 1 DTE

10/27/2022 (6:52:30 am, PT)  🠈 Expiration

buy back 3920 short call at $0.05

PROFIT:  $85 (in 1 day)

Options trading : Alphabet (GOOGL) semi-bullish trade

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

9/13/2022

sell -1 Oct 21, 2022 $93 put at $1.03

• prob ITM: 17%
• GOOGL = $106 (-4.80)
• oversold
• 38 DTE

10/21/2022 (expiration)

GOOGL closed at $101.13

My short put expired perfectly

PROFIT:  $103

Options trading : Alphabet (GOOGL) semi-bullish trade

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

9/12/2022

sell -1 Oct 21, 2022 $98 put at $1.10 (prob ITM 17.60%)

buy + 1 Oct 21, 2022 $57 put at $0.01 (prob ITM 0.15%)

• GOOGL = $110.70
• margin:  $571
• oversold
• 39 DTE

10/17/2022  🠈🠈  4 DTE

buy back the short put at $1.00

PROFIT:  $7.01

NOTES:

This was a difficult trade.

On 9/30/2022, the premium for the $98 put reached a high of $4.76, so I had a "paper loss" of $367 that day.

On 10/13/2022, GOOGL dropped to $94.38, so my $98 short put was almost $4.00 in-the-money (bad).

After all these challenges, I decided the best thing to do was to break even on the trade.