Saturday Trades Wednesday Update 8/16/2023 – Bubba Trading

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Saturday Trades Wednesday Update 8/16/2023

Bearish Action with Markets Higher This Morning

After yesterday’s selloff the markets are higher this morning which would be considered bearish action. In the phase markets are in now, higher opens are meant to be sold.

The only issue is the slow markets we are watching but the action is negative. We are sellers of all rallies until further notice.

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

New Trades filled on Monday.

GLD – Buy to close 1 August 18th 181/179 Strangle/Sell to Open 1 August 25th 181/179 Strangle Credit 1.01

DIA – Buy to close 1 August 18th 359/351 Strangle/Sell to Open 1 August 25th 109/91 Strangle Credit 1.60

IWM – Buy to close 1 August 14th 196/192 Strangle/Sell to Open 1 August 16th 196/192 Strangle Credit .70

RIOT – Buy to close 1 August 18th 20/17 Strangle/Sell to Open 1 August 25th 20/17 Strangle Credit .60

ZM – Buy to close 1 August 18th 74/71 Strangle/Sell to Open 1 August 25th 74/71 Strangle Credit 3.32

2023-08-12 Pregame

2023-08-12 Saturday Call Recording

Exercise and Assignment

Chat Room Link

New Trades

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)

TSLA – (11.44) (Credit Collected)
Short 1 August 18th 252.5 Call
Short 1 August 18th 232.5 Put
Long 1 September 15th 255 Call
Long 1 September 15th 230 Put

COIN – (7.47) (Credit Collected)
Short 1 August 18th 85 Call
Short 1 August 18th 75 Put
Long 1 September 15th 85 Call
Long 1 September 15th 75 Put

GLD – (6.35) (70.00 Credit Collected)
Short 1 August 18th 181 Call
Short 1 August 18th 179 Put
Long 2 September 15th 182 Call
Long 2 September 15th 178 Put

IWM – (12.10) (150.00 Credit Collected)
Short 1 August 14th 196 Call
Short 1 August 14th 192 Put
Long 2 September 15th 198 Call
Long 2 September 15th 190 Put

QQQ – (24.64) (Credit Collected)
Short 1 August 14th 378 Call
Short 1 August 14th 366 Put
Long 2 September 15th 380 Call
Long 2 September 15th 364 Put

SPY – (21.25) (170.00 Credit Collected)
Short 1 August 14th 451 Call
Short 1 August 14th 443 Put
Long 2 September 15th 454 Call
Long 2 September 15th 441 Put

RIOT – (5.18) (147.00 Credit Collected)
Short 1 August 18th 20 Call
Short 1 August 18th 17 Put
Long 2 September 15th 21 Call
Long 2 September 15th 16 Put

SQ – (8.16) (1035.00 Credit Collected)
Short 1 August 18th 80 Call
Short 1 August 18th 76 Put
Long 2 August 18th 80 Call
Long 1 August 18th 76 Put

ZM – (15.15) (480.00 Credit Collected)
Short 1 August 18th 74 Call
Short 1 August 18th 71 Put
Long 2 September 15th 75 Call
Long 1 September 15th 70 Put
Long 1 September 15th 66 Put

DIA – (11.19) (359.00 Credit Collected)
Short 1 August 18th 359 Call
Short 1 August 18th 351 Put
Long 2 September 15th 361 Call
Long 2 September 15th 349 Put

COIN – (9.32) (1204.00 Credit Collected)
Short 1 August 18th 109 Call
Short 1 August 18th 91 Put
Long 1 August 18th 110 Call
Long 1 August 18th 90 Put

RIVN – (4.21) (313.00 Credit Collected)
Short 1 August 18th 26.5 Call
Short 1 August 18th 21.5 Put
Long 2 August 18th 27.5 Call
Long 2 August 18th 20 Put

ROKU – (15.26) (1901.00 Credit Collected)
Short 1 August 18th 78 Call
Short 1 August 18th 71 Put
Long 1 August 18th 80 Call
Long 1 August 18th 98 Call
Long 2 August 18th 70 Put

GS – (16.91) (2250.00 Credit Collected)
Short 1 August 18th 335 Call
Short 1 August 18th 315 Put
Long 1 August 18th 335 Call
Long 1 August 18th 360 Call
Long 2 August 18th 315 Put

QQQ – (26.06) (2600.00 Credit Collected)
Short 1 August 14th 370 Call
Short 1 August 14th 362 Put
Long 1 August 18th 372 Call
Long 1 August 18th 388 Call
Long 2 August 18th 360 Put

SPY – (19.98) (2410.00 Credit Collected)
Short 1 August 14th 442 Call
Short 1 August 14th 434 Put
Long 1 August 18th 444 Call
Long 1 August 18th 460 Call
Long 2 August 18th 432 Put

IWM – (9.34) (1230.00 Credit Collected)
Short 1 August 14th 188 Call
Short 1 August 14th 182 Put
Long 1 August 18th 190 Call
Long 1 August 18th 198 Call
Long 2 August 18th 180 Put

GOOGL – (10.33) (2200.00 Credit Collected)
Short 1 August 18th 124 Call
Short 1 August 18th 117 Put
Long 1 August 18th 125 Call
Long 1 August 18th 117 Put
Long 1 August 18th 115 Put

AMZN – (15.19) (1910.00 Credit Collected)
Short 1 August 18th 134 Call
Short 1 August 18th 126 Put
Long 1 August 18th 135 Call
Long 2 August 18th 125 Put

ZM – (11.99) (680.00 Credit Collected)
Short 1 August 18th 70 Call
Short 1 August 18th 65 Put
Long 1 August 18th 70 Call
Long 1 August 18th 65 Put

AAPL – (11.99) (1450.00 Credit Collected)
Short 1 August 18th 190 Call
Short 1 August 18th 182.5 Put
Long 1 August 18th 195 Call
Long 1 August 18th 197.5 Call
Long 1 August 18th 180 Put
Long 1 August 18th 177.5 Put

By Todd "Bubba" Horwitz|2023-08-16T07:47:01-04:00August 16, 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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