Option Strategies: SNOW& .SPX
Hello everyone! Today I will share some option strategies with you!
1.
Our optionselling recap for the week ended Dec 1. Didn't take a lot of 0DTE or earnings trades or trades expiring this week. Instead, closed out several swing plays.
Net premium booked as profit = $10,351.32 (does not include positions that expired today, so profit will probs be closer to 12K when accounts update on Tuesday)
Tickers traded (including expired positions): $Autodesk(ADSK)$ $Alibaba(BABA)$ $CrowdStrike Holdings, Inc.(CRWD)$ $Datadog(DDOG)$ $John Deere(DE)$ $Hut 8 Mining Corp(HUT)$ $Manchester United PLC(MANU)$ $Snowflake(SNOW)$ $S&P 500(.SPX)$ $Block(SQ)$ $Tesla Motors(TSLA)$ $Zscaler Inc.(ZS)$
- SNOW was our money-maker this week. We've been selling options on that stock since it went public several years ago. It continues to be an options-writing winner for us.
- Bad execution on the SPX trade this morning. Poor poor poor decision-making. That said, thanks to Fidelity's technical issues we weren't able to close out the trade for a loss. Ended up keeping the trade open and it expired worthless for profit.
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2.
Our optionselling thoughts/plan for this week. Focusing on the circled companies for earnings plays, and targeting puts since the market is in pump mode. Will post detailed trade ideas later.
- $GitLab, Inc.(GTLB)$ Dec 22 exp 37 strike
- $MongoDB Inc.(MDB)$ Dec 15 exp 350-360 strike
- $Asana, Inc.(ASAN)$ Dec 8 exp 16.5 or 17 strike
- $Chewy, Inc.(CHWY)$ Dec 8 exp 14 strike
- $Braze, Inc.(BRZE)$ Dec 15 exp 35 strike
- $Docusign(DOCU)$ Dec 8 exp 37.5 or 38 strike
- $Semtech(SMTC)$ Dec 15 exp 11, 12, or 13 strike
- $Veeva(VEEV)$ Dec 15 exp 150/140 strike - credit spread
- $Restoration Hardware(RH)$ Dec 8 exp 225 strike or lower - credit spread
- $Broadcom(AVGO)$ $Lululemon Athletica(LULU)$ Dec 8 exp tbd strikes - credit spread
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3.
Our optionselling recap for the month of November. Net premium booked as profit = $35,090.26 Could've had a bigger month (50K+) but made stupid trading mistakes on SPX.
Lessons learned. That said, produced a solid month considering we're still on a trading restriction with Fidelity.
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