Saturday Trades Wednesday Update 2/14/2024 – Bubba Trading

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Saturday Trades Wednesday Update 2/14/2024

No Surprise markets higher after Tuesday’s big selloff

Markets had a minor bloodbath on Tuesday. Early the selling was orderly, late there was some action with the VIX spiking to 18. By the end of the day the VIX was back at the mid 15 level.

The rally we are seeing today is probably a selling opportunity. We can’t predict the selling will continue but the action itself suggests that it should continue.

We are in good shape but have only filled on DKNG. Cancel BIIB, work RIOT, MARA

Roll SPY, QQQ, to Thursday and IWM to Friday

AMD roll filled for our price, start adjusting remining rolls after the open today

Rolls

DKNG – Buy to close 1 February 16th 46/41 Strangle/ Sell to open 1 February 23rd 46/41 Strangle Credit .75

COIN – Buy to close 1 February 16th 135/120 Strangle/ Sell to open 1 February 23rd 135/120 Strangle Credit 7.10

BABA – Buy to close 1 February 16th 75 Straddle/ Sell to open 1 February 23rd 75 Straddle Credit 1.30

AMD – Buy to close 1 February 16th 185/170 Strangle/ Sell to open 1 February 23rd 185/170 Strangle Credit 3.80

Exercise and Assignment

Chat Room Link

New Trades

MARA

RIOT

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)

DKNG – (5.66) (Credit Collected)
Short 1 February 16th 46 Call
Short 1 February 16th 41 Put
Long 2 March 15th 46 Call
Long 2 March 15th 41 Put

COIN – (27.13) (706.00 Credit Collected)
Short 1 February 16th 135 Call
Short 1 February 16th 120 Put
Long 2 March 15th 140 Call
Long 2 March 15th 115 Put

IWM – (12.34) (150.00 Credit Collected)
Short 1 February 12th 198 Call
Short 1 February 12th 192 Put
Long 2 March 15th 200 Call
Long 2 March 15th 190 Put

BABA – (14.15) (610.00 Credit Collected)
Short 1 February 16th 75 Call
Short 1 February 16th 75 Put
Long 2 March 15th 75 Call
Long 1 March 15th 75 Put
Long 1 March 15th 70 Put

AMD – (21.70) (565.00 Credit Collected)
Short 1 February 16th 185 Call
Short 1 February 16th 170 Put
Long 2 March 15th 190 Call
Long 2 March 15th 165 Put

QQQ – (20.36) (2250.00 Credit Collected)
Short 1 February 12th 413 Call
Short 1 February 12th 407 Put
Long 1 February 16th 415 Call
Long 1 February 16th 437 Call
Long 2 February 16th 405 Put

AAPL – (10.15) (1300.00 Credit Collected)
Short 1 February 16th 187.5 Call
Short 1 February 16th 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) (1250.00 Credit Collected)
Short 1 February 12th 196 Call
Short 1 February 12th 190 Put
Long 1 February 16th 198 Call
Long 1 February 16th 200 Call
Long 2 February 16th 188 Put

BA – (21.00) (3100.00 Credit Collected)
Short 1 February 16th 255 Call
Short 1 February 16th 235 Put
Long 2 February 16th 255 Call
Long 1 February 16th 235 Put
Long 1 February 16th 200 Put

SPY – (20.78) (2850.00 Credit Collected)
Short 1 February 12th 471 Call
Short 1 February 12th 463 Put
Long 1 February 16th 473 Call
Long 1 February 16th 500 Call
Long 2 February 16th 461 Put

COIN – (15.28) (1685.00 Credit Collected)
Short 1 February 16th 165 Call
Long 1 February 16th 170 Call

ROKU – (26.52) (2540.00 Credit Collected)
Short 1 February 16th 94 Call
Short 1 February 16th 91 Put
Long 1 February 16th 95 Call
Long 1 February 16th 97 Call
Long 1 February 16th 90 Put
Long 1 February 16th 80 Put

GOOGL – (13.84) (1707.00 Credit Collected)
Short 1 February 16th 144 Call
Short 1 February 16th 136 Put
Long 1 February 16th 145 Call
Long 1 February 16th 155 Call
Long 2 February 16th 135 Put

FSLR – (12.34) (1000.00 Credit Collected)
Short 1 February 16th 177.5 Call
Short 1 February 16th 167.5 Put
Long 1 February 16th 180 Call
Long 1 February 16th 165 Put

By Todd "Bubba" Horwitz|2024-02-14T08:49:05-05:00February 14, 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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