Option Strategies: .SPX, MANU, BITO, GTLB& HUT
Hello everyone! Today I want to share some option strategies with you!
1.
Shoot … should’ve sold puts on $ProShares Bitcoin Strategy ETF(BITO)$ on Friday.
on a pump tonight! $Hut 8 Mining Corp(HUT)$ reverse-splitting tomorrow … coupled with bitcoin pump … hopefully we see $20+ tomorrow. Will exit out of shares and take profit if that happens … and let ITM $3 puts continue to run.
Sidenote: weak-ass dividend on BITO considering bitcoin is above 40K.
2.
Earnings trade idea on $GitLab, Inc.(GTLB)$
Earnings Release: Dec 4th after market close
Expected Move: 12.5% for Dec 8 weekly close / IV is high on this move
Entry: Sell-to-open puts on the Dec 15 exp, strike in the 35-37 range (moved up from the Dec 22 exp stated in our plan post). Volume support at 33. Gap at 37. Gonna sell at the gap.
Exit: Close out the trade for profit if GTLB stays above the sold strike after earnings are released and IV gets crushed. If the strike gets breached, then will most likely roll the position down-and-out (lower the strike and further expiration date).
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3.
Thoughts on selling $S&P 500(.SPX)$ Dec 4 exp 4545/4540 put credit spread right now? 5m timeframe flipped and 3m has been on an upwards move.
4.
$Manchester United PLC(MANU)$ Supposedly has its earnings call this week (12/6) and yet there are no bids on the 21 to 22 call strikes. Gimme something!! Trying to sell covered calls.
5.
Haven't done this in a while, but decided to day trade the 5m timeframe flip on $S&P 500(.SPX)$ when it was trading around 4548. Sold the Dec 4 4545/4540 put credit spread. Exited out of the trade around 4568. Went with less contracts for risk management purposes since this isn't our core trading style.
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