Saturday Trades Tuesday Update 10/17/2023 – Bubba Trading

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Saturday Trades Tuesday Update 10/17/2023

Markets closed at resistance Monday – Sell the rally

Markets closed at resistance on Monday, giving us an opportunity to sell. With GS earnings this morning a rally from here would give us a greater position to sell into strength.

On the other hand, if markets tank after earnings we will wait to sell. In other words, sell a rally or flat market. If they see before the open, we sit. Either way we are looking to sell

Roll SPY, QQQ to Wednesday

All new trades filled

Rolls

GOOGL – Buy to close 1 October 20th 140/135 Strangle/ Sell to open 1 October 27th 140/135 Strangle Credit 4.00

AAPL – Buy to close 1 October 20th 180/175 Strangle/ Sell to open 1 October 27th 180/175 Strangle Credit 1.90

AMZN – Buy to close 1 October 20th 130/125 Strangle/ Sell to open 1 October 27th 130/125 Strangle Credit 5.50

NUGT – Buy to close 1 October 20th 27/26 Strangle/ Sell to open 1 October 27th 26.5 Straddle Credit .65

TSLA – Buy to close 1 October 20th 270/230 Strangle/ Sell to open 1 October 27th 270/230 Strangle Credit 4.00

Exercise and Assignment

Chat Room Link

New Trades

AMD

IWM

COIN

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)

AMZN – (19.91) (470.00 Credit Collected)
Short 1 October 20th 130 Call
Short 1 October 20th 125 Put
Long 1 November 17th 130 Call
Long 1 November 17th 135 Call
Long 2 November 17th 125 Put

AAPL – (17.29) (180.00 Credit Collected)
Short 1 October 20th 180 Call
Short 1 October 20th 175 Put
Long 2 November 17th 180 Call
Long 2 November 17th 175 Put

GOOGL – (16.45) (180.00 Credit Collected)
Short 1 October 20th 140 Call
Short 1 October 20th 135 Put
Long 1 November 17th 140 Call
Long 1 November 17th 135 Put

NUGT – (4.78) (240.00 Credit Collected)
Short 1 October 20th 25 Call
Short 1 October 20th 27 Put
Long 1 November 17th 28 Call
Long 1 November 17th 30 Call
Long 1 November 17th 25 Put
Long 1 November 17th 24 Put

TSLA – (17.59) (1020.00 Credit Collected)
Short 1 October 20th 270 Call
Short 1 October 20th 230 Put
Long 1 November 17th 270 Call
Long 1 November 17th 230 Put

NFLX – (13.86) (2000.00 Credit Collected)
Short 1 October 20th 395 Call
Short 1 October 20th 355 Put
Long 1 October 20th 400 Call
Long 1 October 20th 350 Put

MU – (5.50) (540.00 Credit Collected)
Short 1 October 20th 70 Call
Short 1 October 20th 66 Put
Long 2 October 20th 71 Call
Long 2 October 20th 65 Put

COIN – (12.44) (956.00 Credit Collected)
Short 1 October 20th 80 Call
Short 1 October 20th 76 Put
Long 2 October 20th 82 Call
Long 2 October 20th 74 Put

JPM – (9.66) (895.00 Credit Collected)
Short 1 October 20th 150 Call
Short 1 October 20th 145 Put
Long 2 October 20th 150 Call
Long 2 October 20th 145 Put

GS – (21.81) (3000.00 Credit Collected)
Short 1 October 20th 347.5 Call
Short 1 October 20th 337.5 Put
Long 2 October 20th 350 Call
Long 1 October 20th 335 Put

QQQ – (21.44) (2372.00 Credit Collected)
Short 1 October 16th 378 Call
Short 1 October 16th 368 Put
Long 2 October 20th 380 Call
Long 1 October 20th 366 Put
Long 1 October 20th 354 Put

SPY – (16.86) (2335.00 Credit Collected)
Short 1 October 16th 450 Call
Short 1 October 16th 440 Put
Long 2 October 20th 452 Call
Long 1 October 20th 438 Put

ROKU – (11.50) (1600.00 Credit Collected)
Short 1 October 20th 88 Call
Short 1 October 20th 82 Put
Long 2 October 20th 90 Call
Long 1 October 20th 80 Put

ORCL – (11.73) (1570.00 Credit Collected)
Short 1 October 13th 122 Call
Short 1 October 13th 118 Put
Long 2 October 20th 125 Call
Long 1 October 20th 115 Put

TWLO – (6.96) (850.00 Credit Collected)
Short 1 October 20th 68 Call
Short 1 October 20th 62 Put
Long 2 October 20th 70 Call
Long 1 October 20th 60 Put

GOOGL – (9.98) (1000.00 Credit Collected)
Short 1 October 20th 138 Call
Short 1 October 20th 132 Put
Long 1 October 20th 140 Call
Long 1 October 20th 142 Call
Long 2 October 20th 130 Put

AAPL – (7.83) (1270.00 Credit Collected) CLOSED

By Todd "Bubba" Horwitz|2023-10-17T08:56:32-04:00October 17, 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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