Saturday Trades Tuesday Update 11/21/2023 – Bubba Trading

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Saturday Trades Tuesday Update 11/21/2023

Markets slightly lower – Volume disappearing

Monday we saw a huge rally, this morning markets are slightly lower. The action is textbook, rally followed by a small pullback.
Under normal circumstances, we would expect this selloff to be met with buyers.

The lack of volume and price action are a concern. We would expect the action to get even slower as the day goes on. If you choose to trade the next couple of days, be careful. We have our positions and will not be looking to add until price action returns.

Start to adjust rolls today, move to midpoint at noon. I would like to complete all rolls today.

Roll SPY and QQQ to Wednesday

All new trades filled

Rolls

TSLA – Buy to close 1 November 24th 230/200 Strangle/ Sell to open 1 December 1st 230/200 Strangle Credit 3.60

HD – Buy to close 1 November 24th 300/280 Strangle/ Sell to open 1 December 1st 300/280 Strangle Credit 1.00

MRNA – Buy to close 1 November 24th 74/71 Strangle/ Sell to open 1 December 1st 74/71 Strangle Credit 2.00

MRVL – Buy to close 1 November 24th 52/51 Strangle/ Sell to open 1 December 1st 52/51 Strangle Credit 2.00

MARA – Buy to Close 1 November 24th 9.5 Straddle/Sell 1 December 1st 9.5 Straddle Credit .63

TWLO – Buy to close 1 November 24th 57/51 Strangle/ Sell to open 1 December 1st 57/51 Strangle Credit 1.00

Exercise and Assignment

Chat Room Link

New Trades

QQQ

IWM

SPY

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)

TSLA – (10.17) (300.00 Credit Collected)
Short 1 November 24th 230 Call
Short 1 November 24th 200 Put
Long 1 December 15th 230 Call
Long 1 December 15th 200 call

HD – (13.21) (Credit Collected)
Short 1 November 17th 300 Call
Short 1 November 17th 280 Put
Long 1 December 15th 300 Call
Long 1 December 15th 310 Call
Long 2 December 15th 280 call

MARA – (3.44) (220.00 Credit Collected)
Short 1 November 24th 9.5 Call
Short 1 November 24th 9.5 Put
Long 1 December 15th 10 Call
Long 1 December 15th 11 Call
Long 1 December 15th 9 Put
Long 1 December 185t 8 Put

TWLO – (6.96) (600.00 Credit Collected)
Short 1 November 17th 57 Call
Short 1 November 17th 51 Put
Long 1 December 15th 57.5 Call
Long 1 December 15th 64 Call
Long 2 December 15th 50 Put

MRVL – (9.49) (450.00 Credit Collected)
Short 1 November 24th 52 Call
Short 1 November 24th 51 Put
Long 1 December 15th 52 Call
Long 1 December 15th 57.5 call
Long 2 December 15th 50 Put

MRNA – (14.80) (1050.00 Credit Collected)
Short 1 November 24th 74 Call
Short 1 November 24th 71 Put
Long 1 December 15th 75 Call
Long 1 December 15th 80 Call
Long 1 December 15th 70 Put
Long 1 December 15th 65 Put

By Todd "Bubba" Horwitz|2023-11-21T08:38:01-05:00November 21, 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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