Saturday Trades Friday Update 9/8/2023 – Bubba Trading

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Saturday Trades Friday Update 9/8/2023

The selling continues

Saturday Call Registration for 9/9/2023

The selling continues this morning. So far this week every rally attempt has failed. Volume is still light but there are signs that the selling could continue.

We expect more price action to return next week into the triple witching cycle. It appears to be more prudent to be a seller of the rallies. We will be patient as the markets define their next move.

ORCL filled on Thursday, cancel ROKU

Roll SPY, QQQ, and IWM to Monday

ORCL – Buy to close 1 September 8th 122/118 Strangle/Sell to Open 1 September 15th 122/118 Strangle Credit 3.30

TWLO – Buy to close 1 September 8th 68/62 Strangle/Sell to Open 1 September 15th 68/62 Strangle Credit .90

GOOGL – Buy to close 1 September 8th 138/132 Strangle/Sell to Open 1 September 15th 138/132 Strangle Credit 1.41

NVDA – Buy to close 1 September 8th 480/440 Strangle/Sell to Open 1 September 15th 480/440 Strangle Credit 7.00 (this will close the trade)

AAPL – Buy to close 1 September 8th 180/175 Strangle/Sell to Open 1 September 15th 180/175 Strangle Credit 1.14

GLD – Buy to close 1 September 8th 181/179 Strangle/Sell to Open 1 September 15th 181/179 Strangle Credit 1.00

DIA – Buy to close 1 September 8th 359/351 Strangle/Sell to Open 1 September 15th 359/351 Strangle Credit 1.78

ZM – Buy to close 1 September 8th 74/71 Strangle/Sell to Open 1 September 15th 74/71 Strangle Credit 1.74

TSLA – Buy to close 1 September 8th 252.5/232.5 Strangle/Sell to Open 1 September 15th 253.33/232.5 Strangle Credit 4.40 ***

COIN – Buy to close 1 September 8th 85/75 Strangle/Sell to Open 1 September 15th 85/75 Strangle Credit 2.00 (this will close the trade)

GME – Buy to close 1 September 8th 19/18 Strangle/Sell to Open 1 September 15th 19/18 Strangle Credit 1.00

2023-09-02 Pregame

2023-09-02 Saturday Trades Recording

Exercise and Assignment

Chat Room Link

New Trades

ROKU

ORCL

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)

TWLO – (6.96) (95.00 Credit Collected)
Short 1 September 15th 68 Call
Short 1 September 15th 62 Put
Long 2 October 20th 70 Call
Long 2 October 20th 60 Put

GOOGL – (9.98) (137.00 Credit Collected)
Short 1 September 15th 138 Call
Short 1 September 15th 132 Put
Long 2 October 20th 140 Call
Long 2 October 20th 130 Put

NVDA – (12.65) (1334.00 Credit Collected) CLOSED
Short 1 September 15th 480 Call
Short 1 September 15th 440 Put
Long 1 September 15th 480 Call
Long 1 September 15th 440 Put

AAPL – (7.83) ( 360.00 Credit Collected)
Short 1 September 15th 180 Call
Short 1 September 15th 175 Put
Long 1 October 20th 180 Call
Long 1 October 20th 175 Put

GME – (5.05) (394.00 Credit Collected)
Short 1 September 15th 19 Call
Short 1 September 15th 18 Put
Long 2 September 15th 19 Call
Long 1 September 15th 18 Put
Long 1 September 15th 16 Put

TSLA – (11.44) (1463.00 Credit Collected)
Short 1 September 15th 252.5 Call
Short 1 September 15th 232.5 Put
Long 1 September 15th 255 Call
Long 1 September 15th 230 Put

COIN – (7.47) (1000.00 Credit Collected) CLOSED
Short 1 September 15th 85 Call
Short 1 September 15th 75 Put
Long 1 September 15th 85 Call
Long 1 September 15th 75 Put

GLD – (6.35) (505.00 Credit Collected)
Short 1 September 15th 181 Call
Short 1 September 15th 179 Put
Long 2 September 15th 182 Call
Long 1 September 15th 178 Put
Long 1 September 15th 175 Put

IWM – (12.10) (1250.00 Credit Collected)
Short 1 September 8th 196 Call
Short 1 September 8th 192 Put
Long 2 September 15th 198 Call
Long 1 September 15th 190 Put
Long 1 September 15th 181 Put

QQQ – (24.64) (1650.00 Credit Collected)
Short 1 September 8th 378 Call
Short 1 September 8th 366 Put
Long 2 September 15th 380 Call
Long 1 September 15th 364 Put
Long 1 September 15th 354 Put

SPY – (21.25) (1600.00 Credit Collected)
Short 1 September 8th 451 Call
Short 1 September 8th 443 Put
Long 2 September 15th 454 Call
Long 1 September 15th 441 Put
Long 1 September 15th 433 Put

RIOT – (5.18) (490.00 Credit Collected)
Short 1 September 8th 20 Call
Short 1 September 8th 17 Put
Long 2 September 15th 21 Call
Long 1 September 15th 16 Put
Long 1 September 15th 11 Put

ZM – (15.15) (987.00 Credit Collected)
Short 1 September 8th 74 Call
Short 1 September 8th 71 Put
Long 2 September 15th 75 Call
Long 1 September 15th 70 Put
Long 1 September 15th 64 Put

DIA – (11.19) (1212.00 Credit Collected)
Short 1 September 15th 359 Call
Short 1 September 15th 351 Put
Long 2 September 15th 361 Call
Long 1 September 15th 349 Put
Long 1 September 15th 340 Put

By Todd "Bubba" Horwitz|2023-09-08T08:22:13-04:00September 8, 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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