Saturday Trades Thursday Update 2/8/2024 – Bubba Trading

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Saturday Trades Thursday Update 2/8/2024

Another mixed morning – Look for another rally

Not much has changed, markets are mixed this morning and will probably rally again. The S+P is over 5000, the Nasdaq should see 18,000 and the Dow 40,000. The rally defies logic but the markets are absolute.

The rally should be nearing the end however we will not predict the end. We will watch and wait looking for a trend change. The FED has been positioning all week for something, it can’t be good. Beware

Roll SPY, QQQ to Friday

The ROKU roll filled and we are now in position to take profit on the trade by closing the extra options. The choice is yours.

Most rolls filled, any unfilled rolls go to midpoint.

Rolls

COIN – Buy to close 1 February 9th 135/120 Strangle/ Sell to open 1 February 16th135/120 Strangle Credit 7.10

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 9th 185/170 Strangle/ Sell to open 1 February 16th185/170 Strangle Credit 3.07

FSLR – Buy to close 1 February 9th 177.5/167.5 Strangle/ Sell to open 1 February 16th 177.5/167.5 Strangle Credit 3.00

GOOGL – Buy to close 1 February 9th144/136 Strangle/ Sell to open 1 February 16th144/136 Strangle Credit 1.75

ROKU – Buy to close 1 February 9th 94/91 Strangle/ Sell to open 1 February 16th 94/91 Strangle Credit 9.00

BA – Buy to close 1 February 9th 255/235 Strangle/ Sell to open 1 February 16th 255/235 Strangle Credit 1.35

COIN – Buy to close 1 February 9th 167.5/140 Strangle/ Sell to open 1 February 16th 165/140 Strangle Credit 5.00

AAPL – Buy to close 1 February 9th 187.5/182.5 Strangle/ Sell to open 1 February 16th 187.5/182.5 Strangle Credit 1.60

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)

COIN – (27.13) (706.00 Credit Collected)
Short 1 February 16th 135 Call
Short 1 February 16th 120 Put
Long 2 March 15th 140 Call
Long 2 March 15th 115 Put

IWM – (12.34) (100.00 Credit Collected)
Short 1 February 9th 198 Call
Short 1 February 9th 192 Put
Long 2 March 15th 200 Call
Long 2 March 15th 190 Put

BABA – (14.15) (540.00 Credit Collected)
Short 1 February 9th 75 Call
Short 1 February 9th 75 Put
Long 2 March 15th 75 Call
Long 1 March 15th 75 Put
Long 1 March 15th 70 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) (2150.00 Credit Collected)
Short 1 February 8th 413 Call
Short 1 February 8th 407 Put
Long 1 February 16th 415 Call
Long 1 February 16th 430 Call
Long 2 February 16th 405 Put

AAPL – (10.15) (1120.00 Credit Collected)
Short 1 February 9th 187.5 Call
Short 1 February 9th182.5 Put
Long 1 February 16th 190 Call
Long 1 February 16th 197.5 Call
Long 2 February 16th 180 Put

IWM – (9.83) (1200.00 Credit Collected)
Short 1 February 9th 196 Call
Short 1 February 9th 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) (2250.00 Credit Collected)
Short 1 February 8th 471 Call
Short 1 February 8th 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) (2440.00 Credit Collected)
Short 1 February 16th 94 Call
Short 1 February 16th 91 Put
Long 2 February 16th 95 Call
Long 1 February 16th 90 Put
Long 1 February 16th 80 Put

GOOGL – (13.84) (1600.00 Credit Collected)
Short 1 February 9th 144 Call
Short 1 February 9th 136 Put
Long 1 February 16th 145 Call
Long 1 February 16th 155 Call
Long 2 February 16th 135 Put

FSLR – (12.34) (900.00 Credit Collected)
Short 1 February 9th 177.5 Call
Short 1 February 9th 167.5 Put
Long 1 February 16th 180 Call
Long 1 February 16th 165 Put

By Todd "Bubba" Horwitz|2024-02-08T08:56:49-05:00February 8, 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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