Nicely done!

Some crazy action this week due to SPY dump. Monday TSLA hit low of 708.85. Tuesday high of 754.50 and close at 744.50. We'll see how rest of week plays out.

BTO
SPY Sep17 450C x5

STO
TSLA Sep17 765c x4
TSLA Sep17 635p
Added BBIG 11c x10

Spy calls may wipe out my TSLA csp but looking to net about 2300 for the week.

Scalped some AMZN 3420C for 300 net.

Revenge Trade
Envy Trade (FOMO)

Revenge trade was just something I made up but its actually really a thing. I think of it as a trade on Stock A to make up for a losing trade on the same stock. Specifically you are hoping to make back all the money you lost and exact revenge. The flaw being, stock A doesnt care, as well as, more importantly, a better trade may exist elsewhere. After all, you lost money on the trade...what makes things different this time?

Envy trade is similar but it tries to capture some of the gains you missed out on a previous trade. In my case, this week I bought and sold AMZN calls for a 300 gain. After I sold I watched it run up another 6K. The following day I bought AMZN puts, expecting it to dump as SPY tanked. Instead, it held and even ran up leaving me with a huge loss.

The crucial similarity with both of these types of trades is a lack of proper analysis and DD. Instead they are centred on emotion which is IMO at the root of all bad trades. Throw in poor trade management and you have a recipe for disaster.

Having said that, I was still lucky to come out on top. Net just under 700 for the week.

Coming week will be interesting. TSLA 780C have huge open interest. Charts looking good and very possible we see 775 close by eow. Outside chance we see 815 in the next couple of weeks if we get some volume. My feeling is that price action has been stifled the last couple of weeks due to quad witching. Threat of sub 700 less likely even if SPY drops more. Of course if we get a sustained SPY drop then all bets off.

Thursday close on TSLA of 753.64 and not looking likely we hit 775. High for the week at around 760. Did not sell calls until today, playing it safe due to SPY action.

STO
AMC Sep24 42c
BBIG Sep24 8.50c x10
TSLA Sep24 765c x4
TSLA Sep24 690p
PLTR Oct15 24c x5

scalped some TSLA and AMZN calls for a couple of bucks.

Looking to net 1700 for the week from the above plays.

BTO
SPY Oct01 445c

Looking for SPY to make new high by expiration. May sell 450c to bring cost to 0. Contract currently at 2X, fingers crossed.

Strong close for the week for TSLA. Did not think 775 was in the cards based on how the week was going and my 765cc ended up biting me in the ass. Had to close for a loss and did not roll as I think Monday will be a bullish open.

Scalped some amzn contracts.

Still holding SPY calls.

Net loss 400 for the week.

Expected a Monday pop for TSLA and set lay and pray for 798 price target. High of day at 799 and filled as hoped. Consolidation below 800 should set up for strong run in the two weeks leading up to earnings.

STO
TSLA Oct01 815c x4
TSLA Oct01 650p
BBIG Oct01 9.00 x10

Looking to net 3550 from these plays

Daytraded AMZN options. So far 2700 net on 3 trades for the week.

AMZN 3320p paid 700 net today.

Possible big day again tomorrow for amzn. Looking for a dip to 3250. If SPY crashes I think we could see 3150 flash.

BTFD! srs

Another good day trading amzn options. Low of day was 3256ish. Bought amzn 3285p 0dte and closed for 1k net. Recapped entry and exit on Discord stream.

Overall one of my best trading weeks ever. 4/6 amzn trades, the 2 being break even.

SPY Oct01 445c expired at loss, otm.

All short options expired worthless. Total net for the week 8k.

Goddam the genius voice of a generation had spoken right there^

2 trades this morning on AMZN options for 1900 net. Stock has had large intraday swings for the last 2 weeks with clear entry and exit signals so will continue to trade. Expecting a bounce tomorrow but will be unable to trade.

STO
TSLA Oct08 695p

Still looking to sell 20 delta calls this week. Had a pop this morning probably due to beat on Q3 deliveries. Unfortunately faded into close. Was really hoping we would have rallied to 815. Looking for a mid week pop.

Sold TSLA 810c mid week just before it made a run for 800. Missed out in a ton of premium. 695csp expired worthless.

Several trades on AMZN. 2 wins, 2 break evens and 1 big loss which put me at 2450 loss for the week. On all my trades, entry was good. My downfall was not respecting my exit signals. One the one side its frustrating to have a losing week. On a positive nite, I know the corrective action I need to take to hopefully get a higher winning percentage.

As previously noted, TSLA consolidation just under 800 is taking place. A close above 800 should be the start of the run leading up to Q3 earnings. As the gap between 100ema increases we should see a sharp rise. Outside bullish call of 875 before Q3 still on the table.

Will be selling calls on the conservative side at less than 20delta and more aggressive csp at -10delta.

Sold moves man! Be careful with TSLA though. Lots of big name funds are selling Tech winners to rotate and/or cover losses. This could have a significant impact on Tesla. I'm sure Tesla will hold $750 till earnings, but if earnings don't wow or excite it could really start dropping... once it does there are a lot of big gaps between support too...

2/3 trades on amzn this morning for just under 600 net.

STO
TSLA Oct15 825c x4
TSLA Oct15 715p

Premium heavily biased to the put side.

Still holding Oct15 PLTR24cc

well this thread died,

TSLA is at almost 1300 now lmaooooo

Switched overall strategy this week from primarily PMCC and CSP on 20-30 different underlyings to a sort of highly leveraged AWP. I am balancing delta dollars as follows:

30% TQQQ/UPRO
40% TMF
15% TYD
8% UTSL
7% UGL

Delta $ in the TQQQ, TMF and TYD is made up of PMCCs. I sell short calls against them weekly or monthly in the case of TMF/TYD and adjust delta if I want higher beta weighting against the market or just need to rebalance the approximate delta weighting of the portfolio. Usually I will sell them ATM 12 days out and roll at 5, defending the long calls by rolling up and out continuously until met by a correction.

I use some of the premium to buy rolling DOTM straddles on SPY/TQQQ at around 0.05 delta and 60 days out. Usually 0.5% allocation. The call side of these has been really paying out with the crazy bull run, but most of the time this has just been a neutral cost hedge. Overall, I am happy to lose money on it.

As the portfolio grows I will rebalance and go primarily with covered calls for better risk management.

New Year, new trades coming. Took a break because it was getting tedious. Will be posting weekly again if anyone is interested. If not, this will still serve as a log for my trades.

Good luck in 2022 to everyone trading.

Same. I saved up some February CCs/CSPs I already closed first week of Jan to harvest some gains and start the year on the proper foot. $700 cushion feels good! I'm about to go PMCC on SU, but I think I'll wait till they are closer to $30 before I do it.

Interesting price action on Tsla today. Closed at upper resistance line. I suspect it will continue to follow similar trading pattern as last few weeks - Monday pop, Tues dip, Wed try to retest Monday high and then close lower for week. If it dips to 900s before Q4 earnings I think it can be a candidate for a swing trade on leaps. I expect v shaped price action and ramp up over the next 4 weeks. Still cautious though and shooting for 15 delta for cc.

NVDA bounced hard off lower support trendline. Filled gap from Nov 3. Expect a pop and retest gap fill in the next few days. Target 20ema on daily at 289, though will not be adding more here. May be trapped here for a few weeks but comfortable to hold mid term but will exit if shares called away for break even.

STO
TSLA - Jan14 1110C x3
TSLA - Jan14 895csp
NVDA - Feb4 300C x2

Looking to net 3800 for these plays.

Roughly 500M TSLA dark pool buys mid last week probably around 1050 which would explain the strong buying below 1000 today and rallying above that mark. Morgan Stanley upgraded their price target after hours today to 1300. Let's see if those combined have a positive affect on the stock this week. If we close above the upper trendline we could see a big rally next week.

https://www.tradingview.com/x/GZ3re3rZ

Seems those dark pool buys may have been the pin as Tsla closed right near the 1050 mark. Priced dipped below last week's close but regained for a nice comeback.

1110cc were briefly in jeopardy but expired worthless as did 895 csp.

Total net for the week just over 3k.

STO
TSLA Jan 28 860csp.
Will be looking to sell Jan28 cc on Tuesday.

Picked up SPY 480C JAN28 @0.12. Lets see if we get a bounce. Target 472.50

There's a bet... Maybe the fed turns doveish Wednesday and you make a small profit.

Personally, I'm in qqq puts with a small allocation as a hedge for my portfolio. I can weather 3% down a week just fine but I want some protection from an intraday selloff.

If the fed pushes interest rates up 25 bp I want to be covered

Fed are being as transparent as possible. They aren’t going to do anything they haven’t already said they’d do. March will be the first although markets are acting like it’s likely they’ll announce a 200bp hike on Wednesday. It makes absolutely no sense, but everyone is trying to time the market which makes highs higher and lows lower when everyone panics or gets greedy at the same time. Now is a great time to accumulate… or you know sell calls

I seem to recall an outsized move earlier in the month from the fed minutes coming out and it turning out that the December meeting was not completely transparent.

Admittedly, I don't have a great handle on what goes on in those meetings. I listen to some fin entertainment talk show on the tasty trade network that discusses recent macro trends and fed stuff and that's about my awareness of things. Regardless of what the fed does my plan stays the same, and I will be soaking up theta on my diagonal debits.

If there is going to be an outsized move from a 50+bp hike though, it'd be nice to be covered in the shorter term and I can afford the portfolio drag to do so. The puts were more than covering my losses today before the reversal.

Rolled my Tsla Jan28 860csp to Feb4 850csp for $1500 credit.

Was looking to sell 1250c on the pop but sell order never filled and missed out on roughly 2500. Lesson learned- don't be too greedy when you are specifically choosing deep otm contracts.

The reason you are choosing deep otm is for safety, not to realize max profit.

"Do you want the penny or the position?"

STO
TSLA Feb04 1015c x3

With my 865csp looking net just under 3500 for the week.

All contracts expired worthless. Had some nvda cc also expired worthless. Spy yolo calls from last week and some poorly chosen delta on TSLA cc at beginning of the year (that I didn't post here) cut into my gains.

Total net from option trading YTD:
$2744