Saturday Trades Wednesday Update 8/02/2023 – Bubba Trading

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Saturday Trades Wednesday Update 8/02/2023

Markets are Selling Off Hard this Morning – Credit Downgrade?

Markets are under pressure this morning on debt downgrade. This means higher debt payments. Is this the news that stops the rally?

There is no way to know today whether the sell off has begun. There is no real technical damage yet. Add to that the markets have not traded the news in an open and liquid market.

RIOT and SQ filled, leaving ZM open and working today.

Roll SPY, QQQ, to Thursday, IWM to Friday.

RIVN – Buy to close 1 August 4th 26.5/21.5 Strangle/Sell to Open 1 August 11th 26.5/21.5 Strangle Credit 1.48

ROKU – Buy to close 1 August 4th 78/71 Strangle/Sell to Open 1 August 11th 78/71 Strangle Credit 1.15

GS – Buy to close 1 August 4th 335/315 Strangle/Sell to Open 1 August 11th 335/315 Strangle Credit 2.03

AMZN – Buy to close 1 August 4th 134/126 Strangle/Sell to Open 1 August 11th 134/126 Strangle Credit 1.30

AAPL – Buy to close 1 July 28th 190/182.5 Strangle/Sell to Open 1 August 11th 190/182.5 Strangle Credit 1.22

GOOGL – Buy to close 1 August 4th 124/117 Strangle/Sell to Open 1 August 11th 124/117 Strangle Credit 1.00

ZM – Buy to close 1 August 4th 70/65 Strangle/Sell to Open 1 August 11th 70/65 Strangle Credit 1.28

COIN – Buy to close 1 August 4th 109/91 Strangle/Sell to Open 1 August 11th 109/91 Strangle Credit 3.23

2023-07-29 Pregame

2023-07-29 Saturday Call Recording

Exercise and Assignment

Chat Room Link

New Trades

SQ

RIOT

ZM

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)

DIA – (11.19) (Credit Collected)
Short 1 August 4th 359 Call
Short 1 August 4th 351 Put
Long 2 September 15th 361 Call
Long 2 September 15th 349 Put

COIN – (9.32) (632.00 Credit Collected)
Short 1 August 4th 109 Call
Short 1 August 4th 91 Put
Long 1 August 18th 110 Call
Long 1 August 18th 90 Put

RIVN – (4.21) (160.00 Credit Collected)
Short 1 August 4th 26.5 Call
Short 1 August 4th 21.5 Put
Long 2 August 18th 27.5 Call
Long 2 August 18th 20 Put

ROKU – (15.26) (1155.00 Credit Collected)
Short 1 August 4th 78 Call
Short 1 August 4th 71 Put
Long 1 August 18th 80 Call
Long 1 August 18th 87 Call
Long 2 August 18th 70 Put

GS – (16.91) (1995.00 Credit Collected)
Short 1 August 4th 335 Call
Short 1 August 4th 315 Put
Long 1 August 18th 335 Call
Long 1 August 18th 360 Call
Long 2 August 18th 315 Put

QQQ – (26.06) (2220.00 Credit Collected)
Short 1 July 31st 370 Call
Short 1 July 31st 362 Put
Long 1 August 18th 372 Call
Long 1 August 18th 388 Call
Long 2 August 18th 360 Put

SPY – (19.98) (1980.00 Credit Collected)
Short 1 July 31st 442 Call
Short 1 July 31st 434 Put
Long 1 August 18th 444 Call
Long 1 August 18th 460 Call
Long 2 August 18th 432 Put

IWM – (9.34) (960.00 Credit Collected)
Short 1 July 31st 188 Call
Short 1 July 31st 182 Put
Long 1 August 18th 190 Call
Long 1 August 18th 198 Call
Long 2 August 18th 180 Put

GOOGL – (10.33) (1360.00 Credit Collected)
Short 1 August 4th 124 Call
Short 1 August 4th 117 Put
Long 1 August 18th 125 Call
Long 1 August 18th 134 Call
Long 1 August 18th 117 Put
Long 1 August 18th 115 Put

AMZN – (15.19) (983.00 Credit Collected)
Short 1 August 4th 134 Call
Short 1 August 4th 126 Put
Long 2 August 18th 135 Call
Long 2 August 18th 125 Put

ZM – (11.99) (582.00 Credit Collected)
Short 1 August 4th 70 Call
Short 1 August 4th 65 Put
Long 1 August 18th 70 Call
Long 1 August 18th 65 Put

AAPL – (11.99) (1054.00 Credit Collected)
Short 1 August 4th 190 Call
Short 1 August 4th 182.5 Put
Long 1 August 18th 195 Call
Long 1 August 18th 197.5 Call
Long 2 August 18th 180 Put

By Todd "Bubba" Horwitz|2023-08-02T08:02:11-04:00August 2, 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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