Saturday Trades Tuesday Update 6/25/2024 – Bubba Trading

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Saturday Trades Tuesday Update 6/25/2024

Markets mixed again this morning after yesterday’s sell off

On Monday markets started out mixed, rallied and then the Nasdaq and S+P got clobbered while the Dow and Russell were higher.

This week could be interesting with it being the quarter end.

GLD and JPM filled, Some filled on IWM. If not filled on IWM change the date of the shorts to tomorrow and use the midpoint.

On the GLD roll to Friday I’m buying the 217.5/212.5 strangle and selling the 215 straddle for Friday

Roll SPY, QQQ and IWM (if filled) to Wednesday

Take all rolls to midpoint today. I want to be done rolling by Wednesday

UPDATE Monday Morning – this is our Futures Options trade, if you already have the trade on below is what you should have – if not sell the futures and buy the calls after the open

Ratio Spread using Futures and Options

•Short 6 MES (micro-S+P) Futures 5534
•Long 5 SPY June 28th 544 Calls 3.60

Bubba

Exercise and Assignment

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New Trades

GLD

JPM

IWM

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)

SPY – (20.22) (365.00 Credit Collected)
Short 1 June 24th 546 Call
Short 1 June 24th 536 Put
Long 2 July 19th 548 Call
Long 2 July 19th 534 Put

QQQ – (20.22) (365.00 Credit Collected)
Short 1 June 24th 482 Call
Short 1 June 24th 472 Put
Long 2 July 19th 485 Call
Long 2 July 19th 470 Put

NUGT – (7.25) (220.00 Credit Collected)
Short 1 June 28th 37 Call
Short 1 June 28th 35 Put
Long 1 July 19th 37 Call
Long 1 July 19th 40 Call
Long 2 July 19th 35 Put

AAPL – (10.10) (265.00 Credit Collected)
Short 1 June 28th 215 Call
Short 1 June 28th 210 Put
Long 2 July 19th 220 Call
Long 2 July 19th 210 Put

RIOT – (3.05) (200.00 Credit Collected)
Short 1 June 28th 10.5 Call
Short 1 June 28th 10 Put
Long 2 July 19th 11 Call
Long 2 July 19th 9 Put

MARA – (8.21) (460.00 Credit Collected)
Short 1 June 28th 22 Call
Short 1 June 28th 20 Put
Long 2 July 19th 23 Call
Long 1 July 19th 19 Put
Long 1 July 19th 18 Put

By Todd "Bubba" Horwitz|2024-06-25T07:56:21-04:00June 25, 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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