Saturday Trades Thursday Update 3/21/2024 – Bubba Trading

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Saturday Trades Thursday Update 3/21/2024

FED makes BS promises – Markets Explode

Wednesday was FED day, the markets exploded on some BS promises from the FED. Chair Powell is indicating a potential for 3 rate cuts this year which is ridiculous. The economic data suggests a rate hike not a cut.

As we have stated the only rate cuts will come for political gain. Hence the words of 3 rate cuts that will time with the election. It’s interesting with hot numbers, lousy jobs and other things that they didn’t hike yesterday.

Roll SPY, QQQ to Friday

You can work TSLL today

MU is exploding higher, I will work an order to sell the extra 95 Call at 25.00 to start

Move all rolls to midpoint

Rolls

TOST – Buy to close 1 March 22nd 24.5 Straddle/ Sell to open 1 March 28th 24.5 Straddle Credit .90

SE – Buy to close 1 March 22nd 59/56 Strangle/ Sell to open 1 March 28th 59/56 Strangle Credit 1.50

RIOT – Buy to close 1 March 22nd 15/14 Strangle/ Sell to open 1 March 28th 15/14 Strangle Credit .75

MARA – Buy to close 1 March 22nd 29/26 Strangle/ Sell to open 1 March 28th 29/26 Strangle Credit 2.00

AAPL – Buy to close 1 March 22nd 182.5/177.5 Strangle/ Sell to open 1 March 28th 182.5/177.5 Strangle Credit 1.85

ZM – Buy to close 1 March 22nd 64/61 Strangle/ Sell to open 1 March 28th 64/61 Strangle Credit 1.00

Exercise and Assignment

Chat Room Link

New Trades

TSLL

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)

GME – (6.50) (Credit Collected)
Short 1 March 22nd 15 Call
Short 1 March 22nd 14 Put
Long 2 May 17th 16 Call
Long 2 May 17th 13 Put

IWM – (12.51) (90.00 Credit Collected)
Short 1 March 22nd 205 Call
Short 1 March 22nd `99 Put
Long 2 May 17th 205 Call
Long 2 May 17th 199 Put

MU – (15.50) (Credit Collected)
Short 1 March 22nd 95 Call
Short 1 March 22nd 90 Put
Long 2 May 17th 95 Call
Long 2 May 17th 90 Put

TOST – (4.10) (90.00 Credit Collected)
Short 1 March 22nd 24.5 Call
Short 1 March 22nd 24.5 Put
Long 2 April 19th 25 Call
Long 2 April 19th 24 Put

SE – (9.30) (350.00 Credit Collected)
Short 1 March 22nd 59 Call
Short 1 March 22nd 56 Put
Long 2 April 19th 55 Call
Long 2 April 19th 60 Put

SPY – (20.20) (400.00 Credit Collected)
Short 1 March 18th 520 Call
Short 1 March 18th 510 Put
Long 2 April 19th 522 Call
Long 2 April 19th 508 Put

QQQ – (23.72) (400.00 Credit Collected)
Short 1 March 18th 451 Call
Short 1 March 18th 439 Put
Long 2 April 19th 454 Call
Long 2 April 19th 436 Put

AAPL – (10.07) (520.00 Credit Collected)
Short 1 March 22nd 182.5 Call
Short 1 March 22nd 177.5 Put
Long 2 April 19th 185 Call
Long 1 April 19th 175 Put
Long 1 April 19th 170 Put

RIOT – (5.40) (320.00 Credit Collected)
Short 1 March 22nd 15 Call
Short 1 March 22nd 14 Put
Long 2 April 19th 16 Call
Long 1 April 19th 13 Put
Long 1 April 19th 10 Put

MARA – (14.78) (7.17 Credit Collected)
Short 1 March 22nd 29 Call
Short 1 March 22nd 26 Put
Long 2 April 19th 30 Call
Long 1 April 19th 25 Put
Long 1 April 19th 20 Put

ZM – (7.58) (1030.00 Credit Collected)
Short 1 March 22nd 64 Call
Short 1 March 22nd 61 Put
Long 1 April 19th 65 Call
Long 2 April 19th 60 Put

By Todd "Bubba" Horwitz|2024-03-21T09:16:32-04:00March 21, 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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