To The Moon

Following the 200 million bro all in roll position Nvidia, institutions that heavily position March monthly options have also begun to consider their positions before expiration. Not surprisingly, they also chose rollover, such as:

Close $AMZN 20240315 145.0 CALL$  (turnover: 345 million)

roll $AMZN 20240621 160.0 CALL$  (turnover: 327 million)

Close $WFC 20240315 52.5 CALL$  (Turnover: 8,532,900)

roll $WFC 20240419 57.5 CALL$  (Turnover 7,335,800)

Close $COIN 20240315 190.0 CALL$  (Turnover 42,438,600)

roll $COIN 20240419 200.0 CALL$  (Turnover 51,509,300)

In terms of the current overall trend, SP500 has exceeded 5000 for more than two weeks, and Bitcoin has also risen to 60,000, if there is no accident, it should be further bullish in line with the market trend, so these traders continue to roll call options is very correct trading idea.

And with just two weeks to go before the March 15 expiration date, more institutions should roll or close positions in those days.

I have very few long-term call options, often go short, and rarely use rollover, but this Amazon roll position idea is very interesting.

Institutions bought $AMZN 20240315 145.0 CALL$  in late December with a long-term bullish view. Within a week of buying the option, the price fell by 50%. What's interesting is that the lowest Amazon correction price at that time was 144. As a result, Amazon shares are not necessarily up in the near term, and the trader most likely believes that the near-term Amazon pullback price is 160 $AMZN 20240621 160.0 CALL$  .

He and 200 million also chose the delta 0.7 in-the-money option on the roll. If you also have a call option that is about to expire, but you continue to be bullish on the market, you can roll a call option on delta 0.7 within six months of expiration (ps: The Tiger position page has the roll function).

For friends who want to track a single leg large order, it is also a reminder that the United States exchange regards the roll position under a single opening position as a group of strategies, so the order type is displayed as a combination order. That is to say, a single leg option closed roll position will be displayed as a combination order.

In general, the roll position of 0.7delta options is more suitable for a breakout but sideways trend state. Part of the reason, of course, is that the Big Seven tech stocks have risen so much. In contrast, WFC and COIN chose more aggressive out-of-the-money and parity options, and the goal is also clear, that is, the recent surge.