Saturday Trades Wednesday Update 12/6/2023 – Bubba Trading

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Saturday Trades Wednesday Update 12/6/2023

Markets higher as we suspected

Yesterday we wrote that the current price action indicated markets consolidating before resuming the rally. Here the markets are rallying higher with no end in sight.

As we approach the end of the year there is no reason to suspect the rally will end soon. There is ADP jobs this morning and the big jobs number on Friday. Either could cause anguish but neither should end the rally

Roll SPY, QQQ to Thursday, IWM to Friday

Rolls

TSLA – Buy to close 1 December 8th 255/225 Strangle/ Sell to open 1 December 15th 255/225 Strangle Credit 4.00
MU – Buy to close 1 December 8th 76 Straddle/ Sell to open 1 December 15th 500/450 Straddle Credit 1.00
NVDA – Buy to close 1 December 8th 500/450 Strangle/ Sell to open 1 December 15th 500/450 Strangle Credit 5.00
AAPL – Buy to close 1 December 8th 192.5/187.5 Strangle/ Sell to open 1 December 15th 192.5/187.5 Strangle Credit 1.60
AMZN – Buy to close 1 December 8th 149/145 Strangle/ Sell to open 1 December 15th 149/145 Strangle Credit 1.77
MRNA – Buy to close 1 December 8th 74/71 Strangle/ Sell to open 1 December 15th 74/71 Strangle Credit 1.50
MRVL – Buy to close 1 December 8th 52/51 Strangle/ Sell to open 1 December 15th 52/51 Strangle Credit 1.00
MARA – Buy to Close 1 December 8th 9.5 Straddle/Sell 1 December 15th 9.5 Straddle Credit .50
TWLO – Buy to close 1 December 8th 57/51 Strangle/ Sell to open 1 December 15th 57/51 Strangle Credit .50

Exercise and Assignment

Chat Room Link

New Trades

TSLA

CHWY

MU

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)

AMZN – (15.27) (170.00 Credit Collected)
Short 1 December 8th 149 Call
Short 1 December 8th 145 Put
Long 2 January 15th 150 Call
Long 2 January 15th 145 Put

NVDA – (10.14) (544.00 Credit Collected)
Short 1 December 8th 500 Call
Short 1 December 8th 450 Put
Long 1 January 15th 510 Call
Long 1 January 15th 440 Put

AAPL – (10.14) (150.00 Credit Collected)
Short 1 December 8th 192.5 Call
Short 1 December 8th 187.5 Put
Long 2 January 15th 195 Call
Long 2 January 15th 185 Put

IWM – (7.26) (560.00 Credit Collected)
Short 1 December 4th 180 Call
Short 1 December 4th 176 Put
Long 2 December 15th 182 Call
Long 1 December 15th 185 Call
Long 2 December 15th 174 Put

SPY – (14.51) (710.00 Credit Collected)
Short 1 December 4th 453 Call
Short 1 December 4th 448 Put
Long 1 December 15th 455 Call
Long 1 December 15th 460 Call
Long 2 December 15th 446 Put

QQQ – (16.50) (910.00 Credit Collected)
Short 1 December 4th 389 Call
Short 1 December 4th 383 Put
Long 1 December 15th 391 Call
Long 1 December 15th 393 Call
Long 2 December 15th 381 Put

MARA – (3.44) (510.00 Credit Collected)
Short 1 December 8th 9.5 Call
Short 1 December 8th 9.5 Put
Long 1 December 15th 10 Call
Long 1 December 15th 9 Put
Long 1 December 185t 8 Put

TWLO – (6.96) (700.00 Credit Collected)
Short 1 December 8th 57 Call
Short 1 December 8th 51 Put
Long 1 December 15th 57.5 Call
Long 2 December 15th 50 Put

MRVL – (9.49) (650.00 Credit Collected)
Short 1 December 8th 52 Call
Short 1 December 8th 51 Put
Long 1 December 15th 52 Call
Long 1 December 15th 57.5 call
Long 2 December 15th 50 Put

MRNA – (14.80) (1500.00 Credit Collected)
Short 1 December 8th 74 Call
Short 1 December 8th 71 Put
Long 1 December 15th 75 Call
Long 1 December 15th 82 Call
Long 1 December 15th 70 Put
Long 1 December 15th 65 Put

By Todd "Bubba" Horwitz|2023-12-06T08:27:13-05:00December 6, 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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