Option Strategies: .SPX, DE, DIS, BABA& NVDA
Hello everyone! Today I want to share some option strategies with you!
1.
In our long-term account, moved up the $Walt Disney(DIS)$ Dec 15 puts 75 strike to same expiration 85 strike to squeeze out additional premium.
Several gaps on DIS. Looks like its starting to top off. Would like to see it hold above 90 on a downtrend.
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2.
$John Deere(DE)$ looks interesting for an Iron Condor optionselling trade to play it for earnings tomorrow. Looking at an Iron Condor, 5-wide spread, targeting high-probability of winning trade, and going with 345/340 on the put side and 435/440 or 440/445 on the call side. Dec 1 expiration.
Could go with strikes closer inwards toward underlying's price for more premium, but gonna play this one a bit "safer" for personal comfort. DE isn't a big mover.
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3.
Took the optionselling trade on $Autodesk(ADSK)$ . Made it an Iron Condor.
- STO Dec 1 250/255 call credit spread - STO Dec 1 185/180 put credit spread
4.
Good job to those who sold options on $NVIDIA Corp(NVDA)$ before the earnings release. Looks like the power players are trying to burn both calls and puts for tomorrow (based on AH price action).
Let's see what happens during regular trading hours tomorrow.
5.
Our optionselling recap for the week ended Nov 17.
Net premium booked as profit = $10,773.91
- Closed out a mix of trades that we held daily, for a few days, for a few weeks.
- $S&P 500(.SPX)$ wasn't giving us the set-up we like to trade, so we leaned more into earnings plays this week. Will still continue to look for opportunities on SPX.
- $Alibaba(BABA)$ 75p was the only trade that didn't go as planned. We didn't close out the trade because BABA has shown support around 77 and is currently holding that support level. So, we're going to hold onto the trade to see how it plays out. Either we take assignment of shares at 75 or we close out the trade once enough premium has decayed, thus positioning us in profit on the trade.
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