Saturday Trades Friday Update 2/2/2024 – Bubba Trading

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Saturday Trades Friday Update 2/2/2024

Earnings explosion sends markets higher

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After the Wednesday beat down markets exploded higher on Thursday. The early rally was expected based on Wednesday’s selloff, the explosion late was based on earnings from META, AMZN and others.

Today we have the jobs number which could continue to push the markets higher or show us a top. A good jobs number should send markets lower tied with chair Powell’s saying that rate cut could be off the table.

It is our opinion that the tops are in, however will will trade the price action and not try and predict.

Roll SPY, QQQ and IWM to Monday

CANCEL SQ and META open trades.

Move all rolls to midpoint and get them filled. Most should already be complete

Rolls

BABA – Buy to close 1 February 2nd 75 Straddle/ Sell to open 1 February 9th75 Straddle Credit 2.85

AMD – Buy to close 1 February 2nd 185/170 Strangle/ Sell to open 1 February 9th185/170 Strangle Credit 2.50

FSLR – Buy to close 1 February 2nd 177.5/167.5 Strangle/ Sell to open 1 February 9th 177.5/167.5 Strangle Credit 3.00

GOOGL – Buy to close 1 February 2nd 144/136 Strangle/ Sell to open 1 February 9th144/136 Strangle Credit 1.75

ROKU – Buy to close 1 February 2nd 94/91 Strangle/ Sell to open 1 February 9th 94/91 Strangle Credit 2.10

BA – Buy to close 1 February 2nd 255/235 Strangle/ Sell to open 1 February 9th 255/235 Strangle Credit 1.75

COIN – Buy to close 1 February 2nd 167.5/140 Strangle/ Sell to open 1 February 9th 167.5/140 Strangle Credit 2.30 FILLED

AAPL – Buy to close 1 February 2nd 187.5/182.5 Strangle/ Sell to open 1 February 9th 187.5/182.5 Strangle Credit 2.00

Exercise and Assignment

Chat Room Link

New Trades

SQ

META

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)

BABA – (14.15) (285.00 Credit Collected)
Short 1 February 9th 75 Call
Short 1 February 9th 75 Put
Long 2 March 15th 75 Call
Long 2 March 15th 75 Put

AMD – (21.70) (250.00 Credit Collected)
Short 1 February 9th 185 Call
Short 1 February 9th 170 Put
Long 2 March 15th 190 Call
Long 2 March 15th 165 Put

QQQ – (20.36) (1750.00 Credit Collected)
Short 1 February 1st 413 Call
Short 1 February 1st 407 Put
Long 1 February 16th 415 Call
Long 1 February 16th 430 Call
Long 2 February 16th 405 Put

AAPL – (10.15) (920.00 Credit Collected)
Short 1 February 2nd 187.5 Call
Short 1 February 2nd 182.5 Put
Long 1 February 16th 190 Call
Long 1 February 16th 197.5 Call
Long 2 February 16th 180 Put

IWM – (9.83) (900.00 Credit Collected)
Short 1 February 2nd 196 Call
Short 1 February 2nd 190 Put
Long 1 February 16th 198 Call
Long 1 February 16th 200 Call
Long 2 February 16th 188 Put

BA – (21.00) (2981.00 Credit Collected)
Short 1 February 9th 255 Call
Short 1 February 9th 235 Put
Long 2 February 16th 255 Call
Long 1 February 16th 235 Put
Long 1 February 16th 200 Put

SPY – (20.78) (2050.00 Credit Collected)
Short 1 February 1st 471 Call
Short 1 February 1st 463 Put
Long 1 February 16th 473 Call
Long 1 February 16th 490 Call
Long 2 February 16th 461 Put

COIN – (15.28) (1180.00 Credit Collected)
Short 1 February 9th 167.5 Call
Short 1 February 9th 140 Put
Long 1 February 16th 170 Call
Long 1 February 16th 140 Put

ROKU – (26.52) (1210.00 Credit Collected)
Short 1 February 2nd 94 Call
Short 1 February 2nd 91 Put
Long 2 February 16th 95 Call
Long 1 February 16th 90 Put
Long 1 February 16th 80 Put

GOOGL – (13.84) (1350.00 Credit Collected)
Short 1 February 2nd 144 Call
Short 1 February 2nd 136 Put
Long 1 February 16th 145 Call
Long 1 February 16th 155 Call
Long 2 February 16th 135 Put

FSLR – (12.34) (850.00 Credit Collected)
Short 1 February 2nd 177.5 Call
Short 1 February 2nd 167.5 Put
Long 1 February 16th 180 Call
Long 1 February 16th 165 Put

By Todd "Bubba" Horwitz|2024-02-02T08:32:39-05:00February 2, 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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