Saturday Trades Thursday Update 3/7/2024 – Bubba Trading

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Saturday Trades Thursday Update 3/7/2024

Decision day – State of the markets

We can call today decision day, the markets bounced on Wednesday. Overnight, markets were getting hammered and now they are higher. They are approaching key levels once again

Tonight is the state of the union which will be filled with B.S. It should have little effect on markets. However this morning Chair Powell continues his testimony on the hill and tomorrow there is the jobs number

This should be interesting, we are looking for one last push higher followed by the end of this bull run

Roll SPY, QQQ to Friday

Cancel any new orders that were not filled

Rolls

RIOT – Buy to close 1 March 8th 15/14 Strangle/ Sell to open 1 March 15th 15/14 Strangle Credit .60 FILLED

MARA – Buy to close 1 March 8th 29/26 Strangle/ Sell to open 1 March 15th 29/26 Strangle Credit 2.00

AAPL – Buy to close 1 March 8th 182.5/177.5 Strangle/ Sell to open 1 March 15th 182.5/177.5 Strangle Credit 1.50 FILLED

TSLL – Buy to close 1 March 8th 10.5/10 Strangle/ Sell to open 1 March 15th 10.5/10 Strangle Credit .50

SQ – Buy to close 1 March 8th 72/62 Strangle/ Sell to open 1 March 15th 72/62 Strangle Credit 1.10

MRNA – Buy to close 1 March 8th 95/85 Strangle/ Sell to open 1 March 15th 95/85 Strangle Credit 1.69

DKNG – Buy to close 1 March 8th 46/41 Strangle/ Sell to open 1 March 15th 46/41 Strangle Credit .75

COIN – Buy to close 1 March 8th 135/120 Strangle/ Sell to open 1 March 15th 135/120 Strangle Credit 2.63

BABA – Buy to close 1 March 8th 75 Straddle/ Sell to open 1 March 15th 75 Straddle Credit 1.50 FILLED

AMD – Buy to close 1 March 8th 185/170 Strangle/ Sell to open 1 March 15th 185/170 Strangle Credit 3.00

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)

AAPL – (10.07) (420.00 Credit Collected)
Short 1 March 15th 182.5 Call
Short 1 March 15th 177.5 Put
Long 2 April 19th 185 Call
Long 1 April 19th 175 Put
Long 1 April 19th 170 Put

RIOT – (5.40) (60.00 Credit Collected)
Short 1 March 15th 15 Call
Short 1 March 15th 14 Put
Long 2 April 19th 16 Call
Long 2 April 19th 13 Put

MARA – (14.78) (3.17 Credit Collected)
Short 1 March 8th 29 Call
Short 1 March 8th 26 Put
Long 2 April 19th 30 Call
Long 1 April 19th 25 Put
Long 1 April 19th 20 Put

ZM – (7.58) (900.00 Credit Collected)
Short 1 March 8th 64 Call
Short 1 March 8th 61 Put
Long 1 April 19th 65 Call
Long 2 April 19th 60 Put

TSLL – (1.49) (126.00 Credit Collected)
Short 1 March 8th 10.5 Call
Short 1 March 8th 10 Put
Long 2 March 15th 10.73 Call
Long 2 March 15th 9.73 Put

SQ – (8.29) (780.00 Credit Collected)
Short 1 March 8th 72 Call
Short 1 March 8th 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) (1100.00 Credit Collected)
Short 1 March 4th 506 Call
Short 1 March 4th 499 Put
Long 1 March 15th 508 Call
Long 1 March 15th 514 Call
Long 1 March 15th 497 Put
Long 1 March 15th 495 Put

QQQ – (17.31) (1250.00 Credit Collected)
Short 1 March 4th 439 Call
Short 1 March 4th 429 Put
Long 1 March 15th 442 Call
Long 1 March 15th 447 Call
Long 1 March 15th 428 Put
Long 1 March 15th 425 Put

MRNA – (11.40) (800.00 Credit Collected)
Short 1 March 8th 95 Call
Short 1 March 8th 85 Put
Long 1 March 15th 95 Call
Long 1 March 15th 102 call
Long 2 March 15th 85 Put

DKNG – (5.66) (241.00 Credit Collected)
Short 1 March 8th 46 Call
Short 1 March 8th 41 Put
Long 2 March 15th 46 Call
Long 1 March 15th 41 Put
Long 1 March 15th 40 Put

COIN – (27.13) (3990.00 Credit Collected)
Short 1 March 8th 135 Call
Short 1 March 8th 120 Put
Long 1 March 15th 140 Call
Long 2 March 15th 115 Put

IWM – (12.34) (1300.00 Credit Collected)
Short 1 March 4th 198 Call
Short 1 March 4th 192 Put
Long 2 March 15th 200 Call
Long 1 March 15th 207 Call
Long 2 March 15th 190 Put

BABA – (14.15) (1240.00 Credit Collected)
Short 1 March 8th 75 Call
Short 1 March 8th 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) (2875.00 Credit Collected)
Short 1 March 8th 185 Call
Short 1 March 8th 170 Put
Long 1 March 15th 190 Call
Long 1 March 15th 202.5
Long 1 March 15th 165 Put
Long 1 March 15th 162.5

By Todd "Bubba" Horwitz|2024-03-07T08:44:52-05:00March 7, 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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