Saturday Trades Friday Update 4/5/2024 – Bubba Trading

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Saturday Trades Friday Update 4/5/2024

Thursday meltdown, now Job’s Friday

Saturday Call registration, pregame starts at 9:00 EST
Password: 888848

This week has been a little crazy, great for us and wild for markets. We can blame the sell off on a variety of reasons, but the only one that counts is the selling has begun.

It appears the tops are in, but there will be rallies either way. For now we will look to sell rallies. With the jobs number this morning, we could see a major move.

Roll SPY, QQQ and IWM to Monday

On the GLD roll, you have 3 choices

Roll to Wednesday April 10th turning it into a double calendar for an .11 credit

Buy to close 1 April 5th 212.5/ 207.5 Strangle/ Sell to Open 1 April 10th 215/205 Strangle Credit .11

Roll to Wednesday April 10th Buy to close 1 April 5th 212.5/ 207.5 Strangle/ Sell to Open 1 April 10th 210 Straddle Credit 3.20 (adding some risk to the trade

Roll to next Friday same strikes

Roll to Friday April 12th Buy to close 1 April 5th 212.5/ 207.5 Strangle/ Sell to Open 1 April 12th 212.5/207.5 Strangle Credit 1.70

Cancel all unfilled orders

Rolls

BITO – Buy to close 1 April 5th 59/56 Strangle/ Sell to open 1 April 12th 59/56 Strangle Credit 1.00

AMZN – Buy to close 1 April 5th 180/175 Strangle/ Sell to open 1 April 12th 180/175 Strangle Credit 2.00

GS – Buy to close 1 April 5th 410/400 Strangle/ Sell to open 1 April 12th 410/400 Strangle Credit 4.50

GME – Buy to close 1 April 5th 15/14 Strangle/ Sell to open 1 April 12th 15/14 Strangle Credit 1.00

TSLL – Buy to close 1 April 5th 8/7.5 Strangle/ Sell to open 1 April 12th 8/7.5 Strangle Credit .50

TOST – Buy to close 1 April 5th 26 Straddle/ Sell to open 1 April 12th 24.5 Straddle Credit .90

SE – Buy to close 1 April 5th 59/56 Strangle/ Sell to open 1 April 12th 59/56 Strangle Credit 1.50

RIOT – Buy to close 1 April 5th 15/14 Strangle/ Sell to open 1 April 12th 15/14 Strangle Credit .75

MARA – Buy to close 1 April 5th 29/26 Strangle/ Sell to open 1 April 12th 29/26 Strangle Credit 2.00

AAPL – Buy to close 1 April 5th 182.5/177.5 Strangle/ Sell to open 1 April 12th 182.5/177.5 Strangle Credit 1.85

ZM – Buy to close 1 April 5th 64/61 Strangle/ Sell to open 1 April 12th 64/61 Strangle Credit 1.00

Exercise and Assignment

Chat Room Link

New Trades

GLD

GOOGL

NUGT

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)

TQQQ- (13.71) (Credit Collected)
Short 1 April 5th 61.5 Call
Short 1 April 5th 61.5 Put
Long 2 May 17th 62 Call
Long 2 May 17th 61 Put

MRNA- (16.36) (Credit Collected)
Short 1 April 5th 110 Call
Short 1 April 5th 105 Put
Long 2 May 17th 115 Call
Long 2 May 17th 100 Put

GS – (20.73) (400.00 Credit Collected)
Short 1 April 5th 410 Call
Short 1 April 5th 400 Put
Long 2 April 19th 415 Call
Long 2 April 19th 395 Put

AMZN- (22.17) (200.00 Credit Collected)
Short 1 April 5th 180 Call
Short 1 April 5th 175 Put
Long 2 May 17th 185 Call
Long 2 May 17th 170 Put

BITO- (9.45) (100.00 Credit Collected)
Short 1 April 5th 30 Call
Short 1 April 5th 28 Put
Long 2 May 17th 31 Call
Long 2 May 17th 27 Put

TSLL – (2.58) (50.00 Credit Collected)
Short 3 April 5th 8 Call
Short 3 April 5th 7.50 Put
Long 6 May 17th 9 Call
Long 6 May 17th 7 Put

GME – (6.50) (545.00 Credit Collected)
Short 1 April 5th 15 Call
Short 1 April 5th 14 Put
Long 1 May 17th 16 Call
Long 2 May 17th 13 Put

IWM – (12.51) (690.00 Credit Collected)
Short 1 April 1st 205 Call
Short 1 April 1st 199 Put
Long 1 May 17th 205 Call
Long 1 May 17th 212 Call
Long 2 May 17th 199 Put

MU – (15.50) (2000.00 Credit Collected)
Short 1 April 5th 95 Call
Short 1 April 5th 90 Put
Long 1 May 17th 95 Call
Long 2 May 17th 90 Put

TOST – (4.10) (260.00 Credit Collected)
Short 1 April 5th 24.5 Call
Short 1 April 5th 24.5 Put
Long 2 April 19th 25 Call
Long 2 April 19th 24 Put

SE – (9.30) (500.00 Credit Collected)
Short 1 April 5th 59 Call
Short 1 April 5th 56 Put
Long 2 April 19th 55 Call
Long 2 April 19th 60 Put

SPY – (20.20) (1250.00 Credit Collected)
Short 1 April 1st 520 Call
Short 1 April 1st 510 Put
Long 1 April 19th 522 Call
Long 1 April 19th 525 Call
Long 2 April 19th 508 Put

QQQ – (23.72) (1300.00 Credit Collected)
Short 1 April 1st 451 Call
Short 1 April 1st 439 Put
Long 2 April 19th 454 Call
Long 2 April 19th 436 Put

AAPL – (10.07) (720.00 Credit Collected)
Short 1 April 1st 182.5 Call
Short 1 April 1st 177.5 Put
Long 2 April 19th 185 Call
Long 1 April 19th 175 Put
Long 1 April 19th 170 Put

RIOT – (5.40) (435.00 Credit Collected)
Short 1 April 1st 15 Call
Short 1 April 1st 14 Put
Long 2 April 19th 16 Call
Long 1 April 19th 13 Put
Long 1 April 19th 10 Put

MARA – (14.78) (8.77 Credit Collected)
Short 1 April 1st 29 Call
Short 1 April 1st 26 Put
Long 2 April 19th 30 Call
Long 1 April 19th 25 Put
Long 1 April 19th 20 Put

ZM – (7.58) (1120.00 Credit Collected)
Short 1 April 1st 64 Call
Short 1 April 1st 61 Put
Long 1 April 19th 65 Call
Long 2 April 19th 60 Put

By Todd "Bubba" Horwitz|2024-04-05T09:25:29-04:00April 5, 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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