Saturday Trades Tuesday Update 8/8/2023
Monday Rally, Tuesday Sell Off – Are We Going Up or Down?
Monday’s rally now a Tuesday sell off. Which is correct? They both are, we are watching a market in consolidation. This pattern is a pain and confusing for traders.
Markets will breakout one way or the other, all the signs point to higher. However there are also cases to be made for a top. You can now recognize that congestion creates mass confusion.
All new trades filled except for AMC, you can work it again today.
Roll SPY, QQQ to Wednesday.
RIVN – Buy to close 1 August 11th 26.5/21.5 Strangle/Sell to Open 1 August 18th 26.5/21.5 Strangle Credit .70
ROKU – Buy to close 1 August 11th 78/71 Strangle/Sell to Open 1 August 18th 78/71 Strangle Credit 1.03
GS – Buy to close 1 August 11th 335/315 Strangle/Sell to Open 1 August 18th 335/315 Strangle Credit 1.58
AMZN – Buy to close 1 August 11th 134/126 Strangle/Sell to Open 1 August 18th 134/126 Strangle Credit 1.45
AAPL – Buy to close 1 August 11th 190/182.5 Strangle/Sell to Open 1 August 18th 190/182.5 Strangle Credit 1.13
GOOGL – Buy to close 1 August 11th 124/117 Strangle/Sell to Open 1 August 11th 124/117 Strangle Credit 2.04
ZM – Buy to close 1 August 11th 70/65 Strangle/Sell to Open 1 August 18th 69/66 Strangle Credit 2.44
COIN – Buy to close 1 August 11th 109/91 Strangle/Sell to Open 1 August 18th 109/91 Strangle Credit 2.39
DIA – Buy to close 1 August 11th 359/351 Strangle/Sell to Open 1 August 18th 109/91 Strangle Credit 1.90
SQ – Buy to close 1 August 11th 80/76 Strangle/Sell to Open 1 August 18th 80/76 Strangle Credit .39
RIOT – Buy to close 1 August 11th 20/17 Strangle/Sell to Open 1 August 18th 20/17 Strangle Credit .60
ZM – Buy to close 1 August 11th 74/71 Strangle/Sell to Open 1 August 18th 74/71 Strangle Credit 1.33
New Trades
AMC
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GLD
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QQQ
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SPY
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IWM
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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)
RIOT – (5.18) (87.00 Credit Collected)
Short 1 August 11th 20 Call
Short 1 August 11th 17 Put
Long 2 September 15th 21 Call
Long 2 September 15th 16 Put
SQ – (8.16) (1035.00 Credit Collected)
Short 1 August 11th 80 Call
Short 1 August 11th 76 Put
Long 2 August 18th 80 Call
Long 1 August 18th 76 Put
ZM – (15.15) (180.00 Credit Collected)
Short 1 August 11th 74 Call
Short 1 August 11th 71 Put
Long 2 September 15th 75 Call
Long 2 September 15th 70 Put
DIA – (11.19) (170.00 Credit Collected)
Short 1 August 11th 359 Call
Short 1 August 11th 351 Put
Long 2 September 15th 361 Call
Long 2 September 15th 349 Put
COIN – (9.32) (965.00 Credit Collected)
Short 1 August 11th 109 Call
Short 1 August 11th 91 Put
Long 1 August 18th 110 Call
Long 1 August 18th 90 Put
RIVN – (4.21) (313.00 Credit Collected)
Short 1 August 11th 26.5 Call
Short 1 August 11th 21.5 Put
Long 2 August 18th 27.5 Call
Long 2 August 18th 20 Put
ROKU – (15.26) (1901.00 Credit Collected)
Short 1 August 11th 78 Call
Short 1 August 11th 71 Put
Long 1 August 18th 80 Call
Long 1 August 18th 98 Call
Long 2 August 18th 70 Put
GS – (16.91) (2100.00 Credit Collected)
Short 1 August 11th 335 Call
Short 1 August 11th 315 Put
Long 1 August 18th 335 Call
Long 1 August 18th 360 Call
Long 2 August 18th 315 Put
QQQ – (26.06) (2600.00 Credit Collected)
Short 1 August 7th 370 Call
Short 1 August 7th 362 Put
Long 1 August 18th 372 Call
Long 1 August 18th 388 Call
Long 2 August 18th 360 Put
SPY – (19.98) (2410.00 Credit Collected)
Short 1 August 7th 442 Call
Short 1 August 7th 434 Put
Long 1 August 18th 444 Call
Long 1 August 18th 460 Call
Long 2 August 18th 432 Put
IWM – (9.34) (1230.00 Credit Collected)
Short 1 August 7th 188 Call
Short 1 August 7th 182 Put
Long 1 August 18th 190 Call
Long 1 August 18th 198 Call
Long 2 August 18th 180 Put
GOOGL – (10.33) (2100.00 Credit Collected)
Short 1 August 11th 124 Call
Short 1 August 11th 117 Put
Long 1 August 18th 125 Call
Long 1 August 18th 117 Put
Long 1 August 18th 115 Put
AMZN – (15.19) (1808.00 Credit Collected)
Short 1 August 11th 134 Call
Short 1 August 11th 126 Put
Long 1 August 18th 135 Call
Long 2 August 18th 125 Put
ZM – (11.99) (680.00 Credit Collected)
Short 1 August 11th 70 Call
Short 1 August 11th 65 Put
Long 1 August 18th 70 Call
Long 1 August 18th 65 Put
AAPL – (11.99) (1254.00 Credit Collected)
Short 1 August 11th 190 Call
Short 1 August 11th 182.5 Put
Long 1 August 18th 195 Call
Long 1 August 18th 197.5 Call
Long 2 August 18th 180 Put