Sold 100 RIVN 20P @ .74
At that level they would basically be trading below cash.
Sold 120 PTON 10P @ .29
I think the earnings volatility is overpriced here. I do expect this thing to drill, but a 3% premium for a 30% OTM put is still excessive.
Sold 7 UPST 78 Straddles @ 19.65
Definitely a white knuckle trade on this one!
Sold 50 AMC 10Ps @ 0.23
Doesn’t trade on fundamentals, earnings is a nothing burger event.
Added to a couple positions as well
Another 50 AMC 10Ps @ .29
20 RIVN 20Ps @ .9
UPST wasn’t picking up dollars in front of a steamroller.
It was bending over while a nuclear missile is aimed at your anus.
Sold 16 RBLX 23.5 Straddles @ 6.14
3 COIN 75 straddles @ 17
Closed out the AMC/PTON puts today to reduce exposure.
Hoping for a bit of a UPST bounce by EOW but that seems unlikely, probably going to be the 125% loss that it is now.
Happy to see you’re sharing your trades here, bud.
Very green realized P&L, I hope?
Care to share some of your reasonings before taking the trade?
Most of the reasoning is just that volatility is being priced extremely high right now, and if I sell enough of it I should come out ahead overall.
This was a bad week so far, getting hit for over -50% on something is going to hurt.
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Closed out RBLX today
Sold 14 BYND 25 straddles @ 6.10
Again, purely a volatility play, I went a bearish on the strikes since it is a pretty shitty company.
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Spent most of the day putting cream on my anus.
Closed out BYND in the morning
Sold 22 AFRM 18 straddles @ 5.00
Still sitting on huge losses from UPST and AAPL this week
What a brutal week. Had I been played under last week’s position sizing/risk management rules I would’ve melvined in the middle of this week. After the stunning loss on UPST I reduced position size rules yet again.
Well, the summary for this week is:
Premiums collected: 67,272
Payouts: 60,824
Total notional: 950,700
PnL: 6,448 (68 basis pts)
The biggest MTM loss for the week was close to -100K
Hopefully we don’t get another week anything like this for a long time, where everything whips 20-50% on a daily basis which basically blows you out if you’re short volatility.
Sold 20 TGT 150Ps @ 1.92 this morning while IV was extremely high to play the bounce. So far TGT hasn’t bounced but the IV crush has at least reduced the value of the puts so far.
Sold 3 Jun 17 FRGE 22.5C @ 2.40
Super small size on this even though it’s a high conviction play as this kind of thing can be volatile.
The S-1/A was recently filed, and another S-1/A and then an EFFECT should be right around the corner which will result in this low float pump and dump dumping hard. I am also confident that this will dump 30%+ if not 50%+, and would love to sell ITM calls, but those have a high likelihood of getting assigned which is problematic since these shares are hard to borrow.
Sold 4 ZM 89C @ 8.7
I figured ZM would report poorly and didn’t see much of an upside case, unfortunately they didn’t and I was wrong on this trade.
Covered the ZM calls at a small gain even though I was completely wrong on the trade. SNAP did me a solid here.
Sold 50 SNAP 11P @ 0.25
Pickin up that quarter in front of the steamroller.
The selloff is probably overdone at this point.
SNAP keeps moving down so I’m gonna paperhand this and cover @ 0.15
Sold 10 June 5Cs on CVT @ 0.40
Lock-up expires on Monday, and this seems like a really shitty company, so it should go down and stay down.
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