Saturday Trades Thursday Update 2/29/2024 – Bubba Trading

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Saturday Trades Thursday Update 2/29/2024

Leap year, same story, no action mixed markets

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

Today is February 29th, this is a leap year. Unfortunately, the action is the same, nonexistent. Markets have moved very little from the mean. Most are still a little overbought indicating there is more selling to come.

The challenge of trading markets like these, is the ability to be patient and let them come to you. We have positions, now we wait to adjust and make decisions.

There is a lot of economic data the next couple of days. Don’t anticipate the numbers, react to them

Roll SPY, QQQ, to Friday

Most rolls have filled, go to midpoint on this that have not after Noon today

Rolls

TSLL – Buy to close 1 March 1st 10.5/10 Strangle/ Sell to open 1 March 8th 10.5/10 Strangle Credit .50

SQ – Buy to close 1 March 1st 72/62 Strangle/ Sell to open 1 March 8th 72/62 Strangle Credit 1.10

MRNA – Buy to close 1 March 1st 95/85 Strangle/ Sell to open 1 March 8th 95/85 Strangle Credit 1.69 FILLED

DKNG – Buy to close 1 March 1st 46/41 Strangle/ Sell to open 1 March 8th 46/41 Strangle Credit .75

COIN – Buy to close 1 March 1st 135/120 Strangle/ Sell to open 1 March 8th 135/120 Strangle Credit 2.63

BABA – Buy to close 1 March 1st 75 Straddle/ Sell to open 1 March 8th 75 Straddle Credit 1.50 FILLED

AMD – Buy to close 1 March 1st185/170 Strangle/ Sell to open 1 March 8th 185/170 Strangle Credit 3.00 FILLED

Exercise and Assignment

Chat Room Link

New Trades

ZM

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)

TSLL – (1.49) (33.00 Credit Collected)
Short 1 March 1st 10.5 Call
Short 1 March 1st 10 Put
Long 2 March 15th 10.73 Call
Long 2 March 15th 9.73 Put

SQ – (8.29) (680.00 Credit Collected)
Short 1 March 1st 72 Call
Short 1 March 1st 62 Put
Long 1 March 15th 72.5 Call
Long 1 March 15th 82.5 Call
Long 2 March 15th 62.5 Put

SPY – (14.82) (420.00 Credit Collected)
Short 1 February 26th 506 Call
Short 1 February 26th 499 Put
Long 1 March 15th 508 Call
Long 1 March 15th 510 Call
Long 1 March 15th 497 Put
Long 1 March 15th 495 Put

QQQ – (17.31) (450.00 Credit Collected)
Short 1 February 26th 439 Call
Short 1 February 26th 429 Put
Long 2 March 15th 442 Call
Long 1 March 15th 428 Put
Long 1 March 15th 425 Put

MRNA – (11.40) (617.00 Credit Collected)
Short 1 March 1st 95 Call
Short 1 March 1st 85 Put
Long 1 March 15th 95 Call
Long 1 March 15th 102 call
Long 2 March 15th 85 Put

DKNG – (5.66) (165.00 Credit Collected)
Short 1 March 1st 46 Call
Short 1 March 1st 41 Put
Long 2 March 15th 46 Call
Long 1 March 15th 41 Put
Long 1 March 15th 40 Put

COIN – (27.13) (3890.00 Credit Collected)
Short 1 March 1st 135 Call
Short 1 March 1st 120 Put
Long 1 March 15th 140 Call
Long 2 March 15th 115 Put

IWM – (12.34) (750.00 Credit Collected)
Short 1 February 26th 198 Call
Short 1 February 26th 192 Put
Long 2 March 15th 200 Call
Long 1 March 15th 205 Call
Long 2 March 15th 190 Put

BABA – (14.15) (1090.00 Credit Collected)
Short 1 March 1st 75 Call
Short 1 March 1st 75 Put
Long 1 March 15th 75 Call
Long 1 March 15th 77 Call
Long 1 March 15th 75 Put
Long 1 March 15th 70 Put

AMD – (21.70) (1800.00 Credit Collected)
Short 1 March 1st 185 Call
Short 1 March 1st 170 Put
Long 2 March 15th 190 Call
Long 1 March 15th 165 Put
Long 1 March 15th 162.5

By Todd "Bubba" Horwitz|2024-02-29T08:30:24-05:00February 29, 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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