Saturday Trades and Recording 11/4/2023 – Bubba Trading

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Saturday Trades and Recording 11/4/2023

There will be some mean reversion

Markets had a huge up week which we expected. We could predict the size of the rally but we knew it would. Now we expect some mean reversion.

Whether the long term rally is going to continue or fail, there will be some down days next week. The more it rallies without a selloff the more bearish the move is.

Be prepared to sell extra calls on a higher open Monday.

Rolls

MRNA – Buy to close 1 November 10th 74/71 Strangle/ Sell to open 1 November 17th 74/71 Strangle Credit 2.00

BIIB – Buy to close 1 November 10th 240/230 Strangle/ Sell to open 1 November 17th 240/230 Strangle Credit 3.50

BABA – Buy to close 1 November 10th 80 Straddle/Sell to open 1 November 17th 80 Straddle Credit 1.50

COIN – Buy to close 1 November 10th 76/68 Strangle/ Sell to open 1 November 17th 76/68 Strangle Credit 1.58

AMD – Buy to close 1 November 10th 108/102 Strangle/ Sell to open 1 November 17th 108/102 Strangle Credit 1.52

GOOGL – Buy to close 1 November 10th 140/135 Strangle/ Sell to open 1 November 17th 140/135 Strangle Credit 1.50

AAPL – Buy to close 1 November 10th 180/175 Strangle/ Sell to open 1 November 17th 180/175 Strangle Credit 1.50

AMZN – Buy to close 1 November 10th 130/125 Strangle/ Sell to open 1 November 17th 130/125 Strangle Credit 2.00

TSLA – Buy to close 1 November 10th 270/230 Strangle/ Sell to open 1 November 17th 270/230 Strangle Credit 2.50

Exercise and Assignment

Chat Room Link

New Trades

MARA

MRVL

TWLO

DIA

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)

MRNA – (14.80) (700.00 Credit Collected)
Short 1 November 10th 74 Call
Short 1 November 10th 71 Put
Long 1 December 15th 75 Call
Long 1 December 15th 80 Call
Long 1 December 15th 70 Put
Long 1 December 15th 65 Put

BIIB – (18.45) (1800.00 Credit Collected)
Short 1 November 10th 240 Call
Short 1 November 10th 230 Put
Long 1 November 17th 240 Call
Long 2 November 17th 227.5 Put

SPY – (23.10) (2460.00 Credit Collected)
Short 1 November 6th 424 Call
Short 1 November 6th 418 Put
Long 1 November 17th 426 Call
Long 1 November 17th 416 Put
Long 1 November 17th 410 Put

QQQ – (23.28) (2250.00 Credit Collected)
Short 1 November 6th 359 Call
Short 1 November 6th 350 Put
Long 1 November 17th 361 Call
Long 1 November 17th 370 Call
Long 1 November 17th 348 Put
Long 1 November 17th 343 Put

BABA – (10.54) (525.00 Credit Collected)
Short 1 November 10th 80 Call
Short 1 November 10th 80 Put
Long 1 November 17th 80 Call
Long 1 November 17th 84 Call
Long 2 November 17th 80 Put

IWM – (9.68) (1100.00 Credit Collected)
Short 1 November 6th 172 Call
Short 1 November 6th 168 Put
Long 2 November 17th 176 Call
Long 1 November 17th 166 Put
Long 1 November 17th 161 Put

COIN – (13.57) (1226.00 Credit Collected)
Short 1 November 10th 76 Call
Short 1 November 10th 68 Put
Long 1 November 17th 80 Call
Long 1 November 17th 87 Call
Long 2 November 17th 65 Put

AMD – (15.38) (1150.00 Credit Collected)
Short 1 November 10th 108 Call
Short 1 November 10th 102 Put
Long 2 November 17th 110 Call
Long 1 November 17th 100 Put
Long 1 November 17th 95 Put

AMZN – (19.91) (1882.00 Credit Collected)
Short 1 November 10th 130 Call
Short 1 November 10th 125 Put
Long 1 November 17th 130 Call
Long 1 November 17th 139 Call
Long 1 November 17th 125 Put
Long 1 November 17th 120 Put

AAPL – (17.29) (1403.00 Credit Collected)
Short 1 November 10th 180 Call
Short 1 November 10th 175 Put
Long 2 November 17th 180 Call
Long 1 November 17th 175 Put
Long 1 November 17th 165 Put

GOOGL – (16.45) (2040.00 Credit Collected)
Short 1 November 10th 140 Call
Short 1 November 10th 135 Put
Long 2 November 17th 140 Call
Long 1 November 17th 135 Put

NUGT – (4.78) (703.00 Credit Collected)
Short 1 November 10th 25 Call
Short 1 November 10th 27 Put
Long 1 November 17th 28 Call
Long 1 November 17th 34 Call
Long 1 November 17th 25 Put
Long 1 November 17th 24 Put

TSLA – (17.59) (1876.00 Credit Collected)
Short 1 November 10th 270 Call
Short 1 November 10th 230 Put
Long 1 November 17th 270 Call
Long 1 November 17th 230 Put

By Todd "Bubba" Horwitz|2023-11-04T11:55:46-04:00November 4, 2023|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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