Saturday Trades Friday Update 5/3/2024 – Bubba Trading

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Saturday Trades Friday Update 5/3/2024

Today is all about the Jobs Number

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

The entire week comes down to the Jobs Number today. The street is still begging for rate cuts and would need a bad report. The rally has been strong but we are still sellers of rallies.

Earnings look like they will help us again, AAPL is up big and we will consider selling the extra call to lock up profits. Be prepared for movement and to exit some extra options if they lock in profits.

Roll SPY, QQQ, and IWM to Monday

All rolls should be filled

Rolls

BA – Buy to close 1 May 3rd 175/165 Strangle/ Sell to open 1 May 10th 175/165 Strangle Credit 2.00

BITO – Buy to close 1 May 3rd 30/28 Strangle/ Sell to open 1 May 10th 30/28 Strangle Credit 1.00

AAPL – Buy to close 1 May 3rd 172.5/165 Strangle/ Sell to open 1 May 10th 172.5/165 Strangle Credit 1.50

COIN – Buy to close 1 May 3rd 285/200 Strangle/ Sell to open 1 May 10th 285/200 Strangle Credit 5.00

NUGT – Buy to close 1 May 3rd 39 Straddle/ Sell to open 1 May 10th 39 Straddle Credit 2.00

SQ – Buy to close 1 May 3rd 80/75 Strangle/ Sell to open 1 May 10th 80/75 Strangle Credit 1.50

MRNA – Buy to close 1 May 3rd 110/105 Strangle/ Sell to open 1 May 10th 110/105 Strangle Credit 3.50

TQQQ – Buy to close 1 May 3rd 62 Straddle/ Sell to open 1 May 10th 62 Straddle Credit 1.29

AMZN – Buy to close 1 May 3rd 180/175 Strangle/ Sell to open 1 May 10th 180/175 Strangle Credit 8.00

GME – Buy to close 1 May 3rd 15/14 Strangle/ Sell to open 1 May 10th 15/14 Strangle Credit 1.50

TSLL – Buy to close 1 May 3rd 8/7.5 Strangle/ Sell to open 1 May 10th 8/7.5 Strangle Credit .85

MARA – Buy to close 1 May 3rd 16.5 Straddle/ Sell to open 1 May 10th 16.5 Straddle Credit 1.00

IBM – Buy to close 1 May 3rd 185/180 Strangle/ Sell to open 1 May 10th 185/180 Strangle Credit 3.00

HD – Buy to close 1 May 3rd 350/330 Strangle/ Sell to open 1 May 10th 350/330 Strangle Credit 2.00

GLD – Buy to close 1 May 3rd 212.5/207.5 Strangle/ Sell to open 1 May 10th 212.5/207.5 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)

AMD – (20.52) (250.00 Credit Collected)
Short 1 May 3rd 165 Call
Short 1 May 3rd 150 Put
Long 2 June 21st 170 Call
Long 1 June 21st 145 Put
Long 1 June 21st 140 Put

BYND – (3.49) (100.00 Credit Collected)
Short 1 May 10th 6.5 Call
Short 1 May 10th 6.5 Put
Long 2 June 21st 7 Call
Long 2 June 21st 6 Put

DKNG – (6.93) (60.00 Credit Collected)
Short 1 May 10th 44 Call
Short 1 May 10th 42 Put
Long 2 June 21st 45 Call
Long 2 June 21st 41 Put

IWM – (17.20) (100.00 Credit Collected)
Short 1 May 2nd 200 Call
Short 1 May 2nd 197 Put
Long 2 June 21st 202 Call
Long 2 June 21st 195 Put

MARA- (5.18) (250.00 Credit Collected)
Short 1 May 3rd 16.5 Call
Short 1 May 3rd 16.5 Put
Long 1 May 17th 17 Call
Long 1 May 17th 20 Call
Long 2 May 17th 16 Put

IBM- (13.90) (1150.00 Credit Collected)
Short 1 May 3rd 185 Call
Short 1 May 3rd 180 Put
Long 2 May 17th 185 Call
Long 1 May 17th 180 Put
Long 1 May 17th 167.5 Put

HD- (16.53) (500.00 Credit Collected)
Short 1 May 3rd 340 Call
Short 1 May 3rd 330 Put
Long 2 May 17th 345 Call
Long 2 May 17th 325 Put

BA- (19.79) (1100.00 Credit Collected)
Short 1 April 26th 175 Call
Short 1 April 26th 165 Put
Long 2 May 17th 175 Call
Long 1 May 17th 165 Put
Long 1 May 17th 160 Put

SPY- (23.59) (1400.00 Credit Collected)
Short 1 April 29th 515 Call
Short 1 April 29th 505 Put
Long 2 May 17th 517 Call
Long 1 May 17th 503 Put
Long 1 May 17th 494 Put

QQQ- (25.98) (1600.00 Credit Collected)
Short 1 April 29th 442 Call
Short 1 April 29th 434 Put
Long 2 May 17th 445 Call
Long 1 May 17th 430 Put
Long 1 May 17th 415 Put

COIN- (18.98) (1330.00 Credit Collected)
Short 1 May 3rd 285 Call
Short 1 May 3rd 200 Put
Long 1 May 17th 300 Call
Long 1 May 17th 190 Put

NUGT- (9.33) (1050.00 Credit Collected)
Short 1 April 26th 39 Call
Short 1 April 26th 39 Put
Long 1 May 17th 40 Call
Long 1 May 17th 45 Call
Long 1 May 17th 38 Put
Long 1 May 17th 35 Put

SQ- (14.36) (1000.00 Credit Collected)
Short 1 May 3rd 80 Call
Short 1 May 3rd 75 Put
Long 2 May 17th 82.5 Call
Long 1 May 17th 72.5 Put
Long 1 May 17th 70 Put

JPM – (12.11) (1000.00 Credit Collected)
Short 1 May 3rd 200 Call
Short 1 May 3rd 190 Put
Long 2 May 17th 200 Call
Long 1 May 17th 190 Put
Long 1 May 17th 180 Put

AAPL – (12.70) (550.00 Credit Collected)
Short 1 May 3rd 172.5 Call
Short 1 May 3rd 165 Put
Long 2 May 17th 175 Call
Long 2 May 17th 165 Put

TQQQ- (13.71) (1300.00 Credit Collected)
Short 1 May 3rd 61.5 Call
Short 1 May 3rd 61.5 Put
Long 1 May 17th 62 Call
Long 1 May 17th 63 Call
Long 1 May 17th 61 Put
Long 1 May 17th 48 Put

MRNA- (16.36) (1150.00 Credit Collected)
Short 1 May 3rd 110 Call
Short 1 May 3rd 105 Put
Long 2 May 17th 115 Call
Long 2 May 17th 100 Put

AMZN- (22.17) (1850.00 Credit Collected)
Short 1 May 3rd 180 Call
Short 1 May 3rd 175 Put
Long 1 May 17th 185 Call
Long 1 May 17th 190 Call
Long 2 May 17th 170 Put

BITO- (9.45) (950.00 Credit Collected)
Short 1 May 3rd 30 Call
Short 1 May 3rd 28 Put
Long 1 May 17th 31 Call
Long 1 May 17th 33 Call
Long 1 May 17th 27 Put
Long 1 May 17th 26 Put

TSLL – (2.58) (300.00 Credit Collected)
Short 3 May 3rd 8 Call
Short 3 May 3rd 7.50 Put
Long 6 May 17th 9 Call
Long 3 May 17th 7 Put
Long 3 May 17th 6 Put

GME – (6.50) (800.00 Credit Collected)
Short 1 May 3rd 15 Call
Short 1 May 3rd 14 Put
Long 1 May 17th 16 Call
Long 1 May 17th 13 Put
Long 1 May 17th 10 Put

IWM – (12.51) (1900.00 Credit Collected)
Short 1 April 29th 205 Call
Short 1 April 29th 199 Put
Long 1 May 17th 205 Call
Long 1 May 17th 212 Call
Long 1 May 17th 199 Put
Long 1 May 17th 193 Put

MU – (15.50) (2050.00 Credit Collected)
Short 1 May 3rd 95 Call
Short 1 May 3rd 90 Put
Long 1 May 17th 95 Call
Long 2 May 17th 90 Put

GLD – (7.98) (1150.00 Credit Collected)
Short 1 May 3rd 207.5 Call
Short 1 May 3rd 212.5 Put
Long 1 May 17th 215 Call
Long 1 May 17th 225 Call
Long 2 May 17th 205 Put

By Todd "Bubba" Horwitz|2024-05-03T08:22:21-04:00May 3, 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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