Saturday Trades Tuesday Update 2/20/2024 – Bubba Trading

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Saturday Trades Tuesday Update 2/20/2024

Markets under some pressure

After being higher on Monday which was a holiday markets are under some pressure this morning. This is consistent with a possible temporary top we talked about and wrote about last week.

Obviously there is no guaranty with the trends still higher but it appears that could change as well. Today’s close will go a long way towards determining what’s next

Roll IWM to Wednesday

New Trades good as written

Rolls

DKNG – Buy to close 1 February 23rd 46/41 Strangle/ Sell to open 1 March 1st 46/41 Strangle Credit .75

COIN – Buy to close 1 February 23rd 135/120 Strangle/ Sell to open 1 March 1st 135/120 Strangle Credit 2.63

BABA – Buy to close 1 February 23rd 75 Straddle/ Sell to open 1 March 1st 75 Straddle Credit 1.50

AMD – Buy to close 1 February 23rd 185/170 Strangle/ Sell to open 1 March 1st 185/170 Strangle Credit 3.00

Exercise and Assignment

Chat Room Link

New Trades

TSLL

SQ

SPY

QQQ

MRNA

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)

DKNG – (5.66) (50.00 Credit Collected)
Short 1 February 23rd 46 Call
Short 1 February 23rd 41 Put
Long 2 March 15th 46 Call
Long 2 March 15th 41 Put

COIN – (27.13) (3856.00 Credit Collected)
Short 1 February 23rd 135 Call
Short 1 February 23rd 120 Put
Long 1 March 15th 140 Call
Long 2 March 15th 115 Put

IWM – (12.34) (500.00 Credit Collected)
Short 1 February 20th 198 Call
Short 1 February 20th 192 Put
Long 2 March 15th 200 Call
Long 1 March 15th 205 Call
Long 2 March 15th 190 Put

BABA – (14.15) (740.00 Credit Collected)
Short 1 February 23rd 75 Call
Short 1 February 23rd 75 Put
Long 2 March 15th 75 Call
Long 1 March 15th 75 Put
Long 1 March 15th 70 Put

AMD – (21.70) (945.00 Credit Collected)
Short 1 February 23rd 185 Call
Short 1 February 23rd 170 Put
Long 2 March 15th 190 Call
Long 2 March 15th 165 Put

By Todd "Bubba" Horwitz|2024-02-20T08:28:16-05:00February 20, 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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