Saturday Trades Wednesday Update 1/31/2024 – Bubba Trading

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Saturday Trades Wednesday Update 1/31/2024

GOOGL, MSFT Beat, Markets get clobbered

GOOGL and MSFT both beat expectations and got hammered on the good news. The markets followed suit and are down sharply this morning. As we have warned in the past, news is mostly priced in and anything but spectacular would create selling pressure.

Today we have the FED along with more earnings, anything goes for the action. Based on Tuesday’s action and some of the things we talked about the tops could be in, we don’t know yet but are aware. Be careful and pick your spots based on the patterns

Roll SPY, QQQ to Thursday, IWM to Friday.

AMD filled on Monday, you can work the other orders today

The selling should help the rolls, let them work as is until midday and then start going to midpoint

Rolls

AMD – Buy to close 1 February 2nd 185/170 Strangle/ Sell to open 1 February 9th185/170 Strangle Credit 2.50

FSLR – Buy to close 1 February 2nd 177.5/167.5 Strangle/ Sell to open 1 February 9th 177.5/167.5 Strangle Credit 3.00

GOOGL – Buy to close 1 February 2nd 144/136 Strangle/ Sell to open 1 February 9th144/136 Strangle Credit 1.75

ROKU – Buy to close 1 February 2nd 94/91 Strangle/ Sell to open 1 February 9th 94/91 Strangle Credit 2.10

BA – Buy to close 1 February 2nd 255/235 Strangle/ Sell to open 1 February 9th 255/235 Strangle Credit 1.75

COIN – Buy to close 1 February 2nd 167.5/140 Strangle/ Sell to open 1 February 9th 167.5/140 Strangle Credit 2.30 FILLED

AAPL – Buy to close 1 February 2nd 187.5/182.5 Strangle/ Sell to open 1 February 9th 187.5/182.5 Strangle Credit 2.00

Exercise and Assignment

Chat Room Link

New Trades

SQ

META

BABA

AMD

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)

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

QQQ – (20.36) (1550.00 Credit Collected)
Short 1 January 29th 413 Call
Short 1 January 29th 407 Put
Long 1 February 16th 415 Call
Long 1 February 16th 430 Call
Long 2 February 16th 405 Put

AAPL – (10.15) (920.00 Credit Collected)
Short 1 February 2nd 187.5 Call
Short 1 February 2nd 182.5 Put
Long 1 February 16th 190 Call
Long 1 February 16th 197.5 Call
Long 2 February 16th 180 Put

IWM – (9.83) (760.00 Credit Collected)
Short 1 January 31st 196 Call
Short 1 January 31st 190 Put
Long 1 February 16th 198 Call
Long 1 February 16th 200 Call
Long 2 February 16th 188 Put

BA – (21.00) (2850.00 Credit Collected)
Short 1 February 2nd 255 Call
Short 1 February 2nd 235 Put
Long 2 February 16th 255 Call
Long 1 February 16th 235 Put
Long 1 February 16th 200 Put

SPY – (20.78) (1850.00 Credit Collected)
Short 1 January 29th 471 Call
Short 1 January 29th 463 Put
Long 1 February 16th 473 Call
Long 1 February 16th 490 Call
Long 2 February 16th 461 Put

COIN – (15.28) (1180.00 Credit Collected)
Short 1 February 9th 167.5 Call
Short 1 February 9th 140 Put
Long 1 February 16th 170 Call
Long 1 February 16th 140 Put

ROKU – (26.52) (1210.00 Credit Collected)
Short 1 February 2nd 94 Call
Short 1 February 2nd 91 Put
Long 2 February 16th 95 Call
Long 1 February 16th 90 Put
Long 1 February 16th 80 Put

GOOGL – (13.84) (1350.00 Credit Collected)
Short 1 February 2nd 144 Call
Short 1 February 2nd 136 Put
Long 1 February 16th 145 Call
Long 1 February 16th 155 Call
Long 2 February 16th 135 Put

FSLR – (12.34) (850.00 Credit Collected)
Short 1 February 2nd 177.5 Call
Short 1 February 2nd 167.5 Put
Long 1 February 16th 180 Call
Long 1 February 16th 165 Put

By Todd "Bubba" Horwitz|2024-01-31T08:43:19-05:00January 31, 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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