Saturday Trades Tuesday Update 3/19/2024 – Bubba Trading

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Saturday Trades Tuesday Update 3/19/2024

Markets appear to be in trouble – FOMC tomorrow

Although most markets were higher on Monday, the price action was ugly. The Dow and Russell were lower while the Nasdaq and S+P were higher, they were all well off their highs.

The VIX didn’t budge on Monday indicating problems and a possible top. The real truth could be revealed tomorrow with the FOMC, however it appears the tops are in and whatever comes from the FED is meaningless.

Roll SPY, QQQ to Wednesday

IWM and GME filled, whatever is not filled can be worked again today

Rolls

TOST – Buy to close 1 March 22nd 24.5 Straddle/ Sell to open 1 March 28th 24.5 Straddle Credit .90

SE – Buy to close 1 March 22nd 59/56 Strangle/ Sell to open 1 March 28th 59/56 Strangle Credit 1.50

RIOT – Buy to close 1 March 22nd 15/14 Strangle/ Sell to open 1 March 28th 15/14 Strangle Credit .75

MARA – Buy to close 1 March 22nd 29/26 Strangle/ Sell to open 1 March 28th 29/26 Strangle Credit 2.00

AAPL – Buy to close 1 March 22nd 182.5/177.5 Strangle/ Sell to open 1 March 28th 182.5/177.5 Strangle Credit 1.85

ZM – Buy to close 1 March 22nd 64/61 Strangle/ Sell to open 1 March 28th 64/61 Strangle Credit 1.00

Exercise and Assignment

Chat Room Link

New Trades

GME

IWM

TSLL

MU

OPEN TRADES

(Some of the call strikes could be different from what you are holding. I’m reflecting the rolls made on the open, some of you rolled again. This is a guide)

TOST – (4.10) (90.00 Credit Collected)
Short 1 March 22nd 24.5 Call
Short 1 March 22nd 24.5 Put
Long 2 April 19th 25 Call
Long 2 April 19th 24 Put

SE – (9.30) (350.00 Credit Collected)
Short 1 March 22nd 59 Call
Short 1 March 22nd 56 Put
Long 2 April 19th 55 Call
Long 2 April 19th 60 Put

SPY – (20.20) (400.00 Credit Collected)
Short 1 March 18th 520 Call
Short 1 March 18th 510 Put
Long 2 April 19th 522 Call
Long 2 April 19th 508 Put

QQQ – (23.72) (400.00 Credit Collected)
Short 1 March 18th 451 Call
Short 1 March 18th 439 Put
Long 2 April 19th 454 Call
Long 2 April 19th 436 Put

AAPL – (10.07) (520.00 Credit Collected)
Short 1 March 22nd 182.5 Call
Short 1 March 22nd 177.5 Put
Long 2 April 19th 185 Call
Long 1 April 19th 175 Put
Long 1 April 19th 170 Put

RIOT – (5.40) (320.00 Credit Collected)
Short 1 March 22nd 15 Call
Short 1 March 22nd 14 Put
Long 2 April 19th 16 Call
Long 1 April 19th 13 Put
Long 1 April 19th 10 Put

MARA – (14.78) (7.17 Credit Collected)
Short 1 March 22nd 29 Call
Short 1 March 22nd 26 Put
Long 2 April 19th 30 Call
Long 1 April 19th 25 Put
Long 1 April 19th 20 Put

ZM – (7.58) (1030.00 Credit Collected)
Short 1 March 22nd 64 Call
Short 1 March 22nd 61 Put
Long 1 April 19th 65 Call
Long 2 April 19th 60 Put

By Todd "Bubba" Horwitz|2024-03-19T09:22:00-04:00March 19, 2024|BAD, Sunday Night Options|Comments Off

About the Author: Todd "Bubba" Horwitz

For more than 36 years, Todd “Bubba” Horwitz has enjoyed a successful career in the financial industry. He began his profession in 1980 as was one of the original market makers in the SPX Trading Pit at the Chicago Board of Options Exchange. He has traded at all of the major exchanges in Chicago and is currently a member of the CBOT. In addition to his trading, for the past five years he has concentrated on writing, education, and a media career.

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