March 17, 2023 Today Option Trade Summary:
- Roll March 17 Covered calls UP and OUT for premium
- Due to Bitcoin's move, RIOT has moved up also. We need to adjust Covered calls.
- Roll Down BAC covered call (as the banking industry is downtrending).
Part 1:
-Rolled SQ UP and OUT for .37 (or $74).
-Rolled FSLY UP and OUT for 0.04 (or $12). I need to move this closer to the market price (ITM --> ATM).
- Rolled RIOT UP and OUT for .06 (or $6). Will BITCOIN run up continue?
Part 2:
- Rolled RIOT. If you look at both Covered calls, both are moving up in STRIKE price.
- The .20 credit helps offset the .08 debit on the other. But I gain $150 if RIOT is at $8 a share.
- BAC Covered call, rolling down and out for the short-term price pressure. My cost basis is under $10 a share. I am doing this to capture premiums from the covered call while the banking sector deals with the current problems.
- I create a post on the detail of that May 19 SPY Iron Condor trade at:
@solving-chaos/march-16-2023-today-options-trade
I closed the May 19 SPY Iron Condor 0.81.
I open the Jul 21 SPY Iron Condor 1.27.
Regards,
Solving-Chaos