Saturday Trades Tuesday Update 9/24/2024 – Bubba Trading

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Saturday Trades Tuesday Update 9/24/2024

Markets overbought and should be sold

Markets are extremally overbought and we are looking for a level to sell. The one ingredient missing is price action which should show up shortly.

This is a very challenging market, be patient and wait for the action. Don’t worry if you miss, there will be another trade. Make sure to roll up all calls that have an opportunity.

If you got filled on the new trades on Monday roll to Wednesday, if you didn’t reset the orders with the Wednesday expiration, use the midpoint to enter.

HAVE ORDERS WORKING ON THE FUTURES, THERE COULD BE WILD SWINGS

Sell 6 MES Futures – 5762
Buy to open 5 568 Calls September 27th

Sell 6 MNQ Futures – 20028
Buy to open 5 482 Calls September 27th

Bubba

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New Trades

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SPY

IWM

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 – (16.62) (750.00 Credit Collected)
Short 1 September 27th 225 Call
Short 1 September 27th 220 Put
Long 1 October 18th 225 Call
Long 1 October 18th 230 Call
Long 1 October 18th 220 Put
Long 1 October 18th 215 Put

COIN – (29.33) (1000.00 Credit Collected)
Short 1 September 27th 160 Call
Short 1 September 27th 140 Put
Long 2 October 18th 165 Call
Long 2 October 18th 135 Put

DIA – (17.05) (1100.00 Credit Collected)
Short 1 September 27th 410 Call
Short 1 September 27th 398 Put
Long 1 October 18th 412 Call
Long 1 October 18th 422 Call
Long 2 October 18th 396 Put

NVDA – (17.70) (1300.00 Credit Collected)
Short 1 September 27th 106 Call
Short 1 September 27th 100 Put
Long 1 October 18th 108 Call
Long 1 October 18th 120 Call
Long 2 October 18th 98 Put

MARA – (5.97) (400.00 Credit Collected)
Short 1 September 27th 19 Call
Short 1 September 27th 18 Put
Long 2 October 18th 20 Call
Long 1 October 18th 17 Put
Long 1 October 18th 13 Put

SLV – (5.22) (460.00 Credit Collected)
Short 1 September 25th 28 Call
Short 1 September 25th 28 Put
Long 2 November 15th 29 Call
Long 1 November 15th 27 Put
Long 1 November 15th 25 Put

By Todd "Bubba" Horwitz|2024-09-24T08:48:51-04:00September 24, 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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