Saturday Trades Tuesday Update 9/26/2023 – Bubba Trading

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Saturday Trades Tuesday Update 9/26/2023

Markets lower again – Beware of a squeeze

Markets are lower again this morning, after yesterday’s failed rally we would be looking for a bounce. The next rally may go farther than we think. We will want to be more patient in selling that rally.

We are still sellers of rallies, however we will look for this one to extend. Look for your second resistance level to sell. With this being the end of the month and quarter, a short squeeze is a real possibility.

Roll SPY, QQQ to Wednesday

New Trades did not fill on Monday, work the same today

2023-09-23 Pregame

2023-09-23 Saturday Call Recording

JPM – Buy to close 1 September 29th 150/145 Strangle/Sell to Open 1 October 6th 150/145 Strangle Credit 1.70

GS – Buy to close 1 September 29th 347.5/337.5 Strangle/Sell to Open 1 October 6th 347.5/337.5 Strangle Credit 3.10

ROKU – Buy to close 1 September 29th 88/82 Strangle/Sell to Open 1 October 6th 88/82 Strangle Credit 1.25

ORCL – Buy to close 1 September 29th 122/118 Strangle/Sell to Open 1 October 6th 122/118 Strangle Credit 1.00

TWLO – Buy to close 1 September 29th 68/62 Strangle/Sell to Open 1 October 6th 68/62 Strangle Credit 1.00

GOOGL – Buy to close 1 September 29th 138/132 Strangle/Sell to Open 1 October 6th 138/132 Strangle Credit 1.50

AAPL – Buy to close 1 September 29th 180/175 Strangle/Sell to Open 1 October 6th 180/175 Strangle Credit 1.60

MU – Buy to close 1 September 29th 70/66 Strangle/Sell to Open 1 October 6th 70/66 Strangle Credit 1.00

COIN – Buy to close 1 September 29th 80/76 Strangle/Sell to Open 1 October 6th 80/76 Strangle Credit 2.00

Exercise and Assignment

Chat Room Link

New Trades

LVS

NFLX

NUGT

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)

MU – (5.50) (240.00 Credit Collected)
Short 1 September 29th 70 Call
Short 1 September 29th 66 Put
Long 2 October 20th 71 Call
Long 2 October 20th 65 Put

COIN – (12.44) (240.00 Credit Collected)
Short 1 September 29th 80 Call
Short 1 September 29th 76 Put
Long 2 October 20th 82 Call
Long 2 October 20th 74 Put

JPM – (9.66) (145.00 Credit Collected)
Short 1 September 29th 150 Call
Short 1 September 29th 145 Put
Long 2 October 20th 150 Call
Long 2 October 20th 145 Put

GS – (21.81) (560.00 Credit Collected)
Short 1 September 29th 347.5 Call
Short 1 September 29th 337.5 Put
Long 2 October 20th 350 Call
Long 1 October 20th 335 Put
Long 1 October 20th 330 Put

QQQ – (21.44) (1104.00 Credit Collected)
Short 1 September 25th 378 Call
Short 1 September 25th 368 Put
Long 2 October 20th 380 Call
Long 1 October 20th 366 Put
Long 1 October 20th 358 Put

SPY – (16.86) (1054.00 Credit Collected)
Short 1 September 22nd 450 Call
Short 1 September 22nd 440 Put
Long 2 October 20th 452 Call
Long 1 October 20th 438 Put
Long 1 October 20th 431 Put

ROKU – (11.50) (755.00 Credit Collected)
Short 1 September 29th 88 Call
Short 1 September 29th 82 Put
Long 2 October 20th 90 Call
Long 1 October 20th 80 Put
Long 1 October 20th 70 Put

ORCL – (11.73) (800.00 Credit Collected)
Short 1 September 29th 122 Call
Short 1 September 29th 118 Put
Long 2 October 20th 125 Call
Long 1 October 20th 115 Put
Long 1 October 20th 110 Put

TWLO – (6.96) (370.00 Credit Collected)
Short 1 September 29th 68 Call
Short 1 September 29th 62 Put
Long 2 October 20th 70 Call
Long 1 October 20th 60 Put
Long 1 October 20th 58 Put

GOOGL – (9.98) (437.00 Credit Collected)
Short 1 September 29th 138 Call
Short 1 September 29th 132 Put
Long 2 October 20th 140 Call
Long 2 October 20th 130 Put

AAPL – (7.83) (775.00 Credit Collected)
Short 1 September 29th 180 Call
Short 1 September 29th 175 Put
Long 1 October 20th 180 Call
Long 1 October 20th 175 Put

By Todd "Bubba" Horwitz|2023-09-26T08:35:43-04:00September 26, 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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