Saturday Trades Friday 1:00 Update 11/17/2023 – Bubba Trading

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Saturday Trades Friday 1:00 Update 11/17/2023

Markets continue to consolidate – Expected action

Saturday Call registration, pregame starts at 9:00 EST

Password: 316988

All extra options that can be sold should be gone already. All rolls should be complete.

All we have left to do is to either close the short spreads or let them exercise and assign off. Most of the call spreads are deep in the money and easier to let them exercise and assign off.

We had another great week, today is all about housekeeping

Markets have acted as expected, consolidating at resistance. This price action is relieving the overbought conditions without doing damage to the trend which remains higher.

The tough part about markets today, lack of volume, price action and two way trade. Add to that the Thanksgiving holiday next week which should bring markets to a screeching halt.

Observation and patience are the most important trades until the markets start to move.

We have many closing trades today including the SPY, QQQ, and IWM. If there is opportunity sell the extra options early in the day, we will deal with the spreads later

Rolls

TSLA – Buy to close 1 November 17th 230/200 Strangle/ Sell to open 1 November 24th 230/200 Strangle Credit 2.60

HD – Buy to close 1 November 17th 300/280 Strangle/ Sell to open 1 November 24th 300/280 Strangle Credit 2.00

MRNA – Buy to close 1 November 17th 74/71 Strangle/ Sell to open 1 November 24th 74/71 Strangle Credit 2.00

MRVL – Buy to close 1 November 17th 52/51 Strangle/ Sell to open 1 November 24th 52/51 Strangle Credit 1.00

MARA – Buy to Close 1 November 17th 9.5 Straddle/Sell 1 November 24th 9.5 Straddle Credit .63

TWLO – Buy to close 1 November 17th 57/51 Strangle/ Sell to open 1 November 24th 57/51 Strangle Credit 1.00

Exercise and Assignment

Chat Room Link

New Trades

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)

TSLA – (10.17) (Credit Collected)
Short 1 November 17th 230 Call
Short 1 November 17th 200 Put
Long 1 December 15th 230 Call
Long 1 December 15th 200 call

HD – (13.21) (Credit Collected)
Short 1 November 17th 300 Call
Short 1 November 17th 280 Put
Long 2 December 15th 300 Call
Long 2 December 15th 280 call

MARA – (3.44) (170.00 Credit Collected)
Short 1 November 17th 9.5 Call
Short 1 November 17th 9.5 Put
Long 1 December 15th 10 Call
Long 1 December 15th 11 Call
Long 1 December 15th 9 Put
Long 1 December 185t 8 Put

TWLO – (6.96) (350.00 Credit Collected)
Short 1 November 17th 57 Call
Short 1 November 17th 51 Put
Long 1 December 15th 57.5 Call
Long 1 December 15th 62.5 Call
Long 2 December 15th 50 Put

MRVL – (9.49) (250.00 Credit Collected)
Short 1 November 17th 52 Call
Short 1 November 17th 51 Put
Long 1 December 15th 52 Call
Long 1 December 15th 55 call
Long 2 December 15th 50 Put

MRNA – (14.80) (850.00 Credit Collected)
Short 1 November 17th 74 Call
Short 1 November 17th 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) (2300.00 Credit Collected)
Short 1 November 17th 240 Call
Short 1 November 17th 230 Put
Long 1 November 17th 240 Call
Long 1 November 17th 227.5 Put

SPY – (23.10) (2840.00 Credit Collected)
Short 1 November 13th 424 Call
Short 1 November 13th 418 Put
Long 1 November 17th 426 Call
Long 1 November 17th 416 Put
Long 1 November 17th 410 Put

QQQ – (23.28) (3350.00 Credit Collected)
Short 1 November 13th 359 Call
Short 1 November 13th 350 Put
Long 1 November 17th 361 Call
Long 1 November 17th 348 Put
Long 1 November 17th 343 Put

BABA – (10.54) (1200.00 Credit Collected)
Long 1 November 17th 86 Call
Long 1 November 17th 80 Put

IWM – (9.68) (1300.00 Credit Collected)
Short 1 November 13th 172 Call
Short 1 November 13th 168 Put
Long 2 November 17th 176 Call
Long 1 November 17th 166 Put
Long 1 November 17th 161 Put

COIN – (13.57) (2476.00 Credit Collected)
Short 1 November 17th 76 Call
Short 1 November 17th 68 Put
Long 1 November 17th 80 Call
Long 2 November 17th 65 Put

AMD – (15.38) (2100.00 Credit Collected)
Short 1 November 17th 108 Call
Short 1 November 17th 102 Put
Long 1 November 17th 115 Call
Long 1 November 17th 100 Put
Long 1 November 17th 95 Put

AMZN – (19.91) (2132.00 Credit Collected)
Short 1 November 17th 130 Call
Short 1 November 17th 125 Put
Long 1 November 17th 130 Call
Long 1 November 17th 144 Call
Long 1 November 17th 125 Put
Long 1 November 17th 120 Put

AAPL – (17.29) (2253.00 Credit Collected)
Short 1 November 17th 180 Call
Short 1 November 17th 175 Put
Long 1 November 17th 180 Call
Long 1 November 17th 175 Put
Long 1 November 17th 165 Put

GOOGL – (16.45) (2140.00 Credit Collected)
Short 1 November 17th 140 Call
Short 1 November 17th 135 Put
Long 2 November 17th 140 Call
Long 1 November 17th 135 Put

NUGT – (4.78) (803.00 Credit Collected)
Short 1 November 17th 25 Call
Short 1 November 17th 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) (2046.00 Credit Collected) CLOSED
Short 1 November 17th 270 Call
Short 1 November 17th 230 Put
Long 1 November 17th 270 Call
Long 1 November 17th 230 Put

By Todd "Bubba" Horwitz|2023-11-17T12:32:50-05:00November 17, 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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