Saturday Trades Wednesday Update 3/27/2024 – Bubba Trading

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Saturday Trades Wednesday Update 3/27/2024

Markets higher, probably a selling opportunity

Markets continue to try and push higher, however the last few days we have seen late day selling. The action suggests the tops are in, higher opens and lower closes is not bullish.

We can’t get to aggressive based on the current volume and price action. Because our positions pick up steam with movement in either direction, we just wait to roll weekly and up and down.

I sold my extra call in MU on Monday.

AMZN filled, work the others again today

Roll SPY, QQQ and IWM to Thursday

Go to midpoint on all rolls, I’m going to sell the extra Put in GME as long as the stock is below 13, you can sell or roll

Rolls

TOST – Buy to close 1 March 28th 26 Straddle/ Sell to open 1 April 5th 24.5 Straddle Credit .90

SE – Buy to close 1 March 28th 59/56 Strangle/ Sell to open 1 April 5th 59/56 Strangle Credit 1.50

RIOT – Buy to close 1 March 28th 15/14 Strangle/ Sell to open 1 April 5th 15/14 Strangle Credit .75

MARA – Buy to close 1 March 28th 29/26 Strangle/ Sell to open 1 April 5th 29/26 Strangle Credit 2.00

AAPL – Buy to close 1 March 28th 182.5/177.5 Strangle/ Sell to open 1 April 5th 182.5/177.5 Strangle Credit 1.85

ZM – Buy to close 1 March 28th 64/61 Strangle/ Sell to open 1 April 5th 64/61 Strangle Credit 1.00

Exercise and Assignment

Chat Room Link

New Trades

AMZN

BITO

GS

TSLL

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)

GME – (6.50) (215.00 Credit Collected)
Short 1 March 28th 15 Call
Short 1 March 28th 14 Put
Long 2 May 17th 16 Call
Long 2 May 17th 13 Put

IWM – (12.51) (290.00 Credit Collected)
Short 1 March 25th 205 Call
Short 1 March 25th 199 Put
Long 1 May 17th 205 Call
Long 1 May 17th 208 Call
Long 2 May 17th 199 Put

MU – (15.50) (1100.00 Credit Collected)
Short 1 March 28th 95 Call
Short 1 March 28th 90 Put
Long 2 May 17th 95 Call
Long 1 May 17th 110 Call
Long 2 May 17th 90 Put

TOST – (4.10) (170.00 Credit Collected)
Short 1 March 28th 24.5 Call
Short 1 March 28th 24.5 Put
Long 2 April 19th 25 Call
Long 2 April 19th 24 Put

SE – (9.30) (350.00 Credit Collected)
Short 1 March 28th 59 Call
Short 1 March 28th 56 Put
Long 2 April 19th 55 Call
Long 2 April 19th 60 Put

SPY – (20.20) (950.00 Credit Collected)
Short 1 March 25th 520 Call
Short 1 March 25th 510 Put
Long 1 April 19th 522 Call
Long 1 April 19th 525 Call
Long 2 April 19th 508 Put

QQQ – (23.72) (1000.00 Credit Collected)
Short 1 March 25th 451 Call
Short 1 March 25th 439 Put
Long 2 April 19th 454 Call
Long 2 April 19th 436 Put

AAPL – (10.07) (620.00 Credit Collected)
Short 1 March 28th 182.5 Call
Short 1 March 28th 177.5 Put
Long 2 April 19th 185 Call
Long 1 April 19th 175 Put
Long 1 April 19th 170 Put

RIOT – (5.40) (395.00 Credit Collected)
Short 1 March 28th 15 Call
Short 1 March 28th 14 Put
Long 2 April 19th 16 Call
Long 1 April 19th 13 Put
Long 1 April 19th 10 Put

MARA – (14.78) (7.77 Credit Collected)
Short 1 March 28th 29 Call
Short 1 March 28th 26 Put
Long 2 April 19th 30 Call
Long 1 April 19th 25 Put
Long 1 April 19th 20 Put

ZM – (7.58) (1080.00 Credit Collected)
Short 1 March 28th 64 Call
Short 1 March 28th 61 Put
Long 1 April 19th 65 Call
Long 2 April 19th 60 Put

By Todd "Bubba" Horwitz|2024-03-27T08:55:26-04:00March 27, 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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