Saturday Trades Friday Update 10/27/2023 – Bubba Trading

ATTENTION: Microsoft Edge browser is not supported and will result in a degraded user experience and/or inability to login. We recommend using Brave, Firefox, Chrome for the best experience.

Saturday Trades Friday Update 10/27/2023

Markets up – Is the the RYOR?

Saturday Call registration, pregame starts at 9:00 EST

Password: 508094

After the beatdown of markets the past week we are seeing a sharp rally this morning. The big question: is the the rip your face off rally that we have been looking for or another false start?

We can’t answer the question directly but we can base our thought process on probability. There is no doubt a big rally is coming, we will be a seller of that rally.

This mornings rally has not traveled far enough to sell but it could. We are watching and waiting for another opportunity to sell.

Most rolls are complete, finish them this morning. Look to sell some of the extra options if you can lock in profits, we sold the extra GOOGL put yesterday at 10.00

Roll SPY and QQQ, IWM to Monday

Rolls

BABA – Buy to close 1 October 27th 80 Straddle/Sell to open 1 November 3rd 80 Straddle Credit 1.50

COIN – Buy to close 1 October 27th 76/68 Strangle/ Sell to open 1 November 3rd 76/68 Strangle Credit 4.58

AMD – Buy to close 1 October 27th 108/102 Strangle/ Sell to open 1 November 3rd 108/102 Strangle Credit 4.50

GOOGL – Buy to close 1 October 27th 140/135 Strangle/ Sell to open 1 November 3rd 140/135 Strangle Credit 2.00

AAPL – Buy to close 1 October 27th 180/175 Strangle/ Sell to open 1 November 3rd 180/175 Strangle Credit 3.50

AMZN – Buy to close 1 October 27th 130/125 Strangle/ Sell to open 1 November 3rd 130/125 Strangle Credit 1.77

TSLA – Buy to close 1 October 27th 270/230 Strangle/ Sell to open 1 November 3rd 270/230 Strangle Credit 2.00

We will update NUGT later in the week

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)

SPY – (23.10) (440.00 Credit Collected)
Short 1 October 26th 424 Call
Short 1 October 26th 418 Put
Long 2 November 17th 426 Call
Long 1 November 17th 416 Put
Long 1 November 17th 412 Put

QQQ – (23.28) (600.00 Credit Collected)
Short 1 October 26th 359 Call
Short 1 October 26th 350 Put
Long 2 November 17th 361 Call
Long 1 November 17th 348 Put
Long 1 November 17th 343 Put

BABA – (10.54) (325.00 Credit Collected)
Short 1 November 3rd 80 Call
Short 1 November 3rd 80 Put
Long 1 November 17th 80 Call
Long 1 November 17th 83 Call
Long 2 November 17th 80 Put

IWM – (9.68) (545.00 Credit Collected)
Short 1 October 27th 172 Call
Short 1 October 27th 168 Put
Long 2 November 17th 174 Call
Long 1 November 17th 166 Put
Long 1 November 17th 163 Put

COIN – (13.57) (1076.00 Credit Collected)
Short 1November 3rd 76 Call
Short 1 November 3rd 68 Put
Long 1 November 17th 80 Call
Long 1 November 17th 87 Call
Long 2 November 17th 65 Put

AMD – (15.38) (950.00 Credit Collected)
Short 1 November 3rd 108 Call
Short 1 November 3rd 102 Put
Long 2 November 17th 110 Call
Long 1 November 17th 100 Put
Long 1 November 17th 95 Put

AMZN – (19.91) (1305.00 Credit Collected)
Short 1 October 27th 130 Call
Short 1 October 27th 125 Put
Long 1 November 17th 130 Call
Long 1 November 17th 135 Call
Long 1 November 17th 125 Put
Long 1 November 17th 120 Put

AAPL – (17.29) (1203.00 Credit Collected)
Short 1 November 3rd 180 Call
Short 1 November 3rd 175 Put
Long 2 November 17th 180 Call
Long 1 November 17th 175 Put
Long 1 November 17th 165 Put

GOOGL – (16.45) (1580.00 Credit Collected)
Short 1 October 27th 140 Call
Short 1 October 27th 135 Put
Long 1 November 17th 140 Call
Long 1 November 17th 135 Put

NUGT – (4.78) (635.00 Credit Collected)
Short 1 October 27th 25 Call
Short 1 October 27th 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) (1626.00 Credit Collected)
Short 1 November 3rd 270 Call
Short 1 November 3rd 230 Put
Long 1 November 17th 270 Call
Long 1 November 17th 230 Put

By Todd "Bubba" Horwitz|2023-10-27T09:36:32-04:00October 27, 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.

Thank you for visiting Bubba Trading. We use cookies to improve your experience during your sojourn, prior & future purchases, and all other interactions herein. Your continued use of the site constitutes your freely-given explicit consent to our company user policies and that you being of sound-mind understand the implications thereof. To find out more, read our privacy policy , general visitor terms of use, and/or the subscriber & customer terms of use. If you wish not to consent to said policies, you must leave the site immediately and are forbidden to return until such time as you opt to freely & explicitly consent to our aforementioned & hyperlinked policies.

Ok