Week #12 March 23 - Today Option Trades Summary:
- Rolled Covered Call on RIOT up and out
- Adjusted Visa Iron Condor; added more risk on the PUT legs.
- Rolled Covered call on BAC for ONE day of risk for $1.
One day after the FED rate hikes, the markets recovered the drop from yesterday's last hour of trading. However, we peaked around noon (EST), and the markets are settling in. A rate hike means inflation is still going up. The cost of borrowing money is still going up.
Will the USA enter a recession? Will the high-interest rate slow down the economy? There are plenty of job layoffs, and the effects will take a year to play out.
What options trades did I make today?
- Rolled Covered Call on RIOT up and out. I moved the strike price up to $.50 and collected $8 premium. This move is worth about $58 in my favor.
- Adjusted Visa Iron Condor; added more risk on the PUT legs. This added $8 of premium for double my risk to a 3% chance of losing. I have a high probability of losing on the CALL legs.
- Rolled Covered call on BAC for ONE day of risk for $1. This is betting that BAC will not exceed $29 on Friday. I will roll this covered call up and out on Friday.
My opinion: I would like to see the market "FLAT" or slightly green. I make the most money when markets are SLOW moving.
Let's see what happens tomorrow!
Solving-Chaos
*Note: Not financial advice. This is just for entertainment and education purposes only.