Author: Bryan Halliday

 

Bought 60 shares of NEM at 38.66/share to take us to 200 shares total. Buy to close: NEM May 17th (monthly) 37.50 strike call Sell to open: NEM May 17th (monthly) 40.00 strike call Debit: 1.20Sell to open: NEM May 17th (monthly) 42.50 strike call Credit: 0.57 We own a 1×6 call spread in GOLD because we own 500 total shares. Today we bought 300 more shares to “hedge” the expected continued sideways/higher price action in the stock through May expiration. This will make better of the spread if the stock is to finish at 18.00 per share or higher. Bought 300 shares of GOLD at 16.92 Sell to open: GOLD May 17th (monthly) 18.00 strike calls Credit: 0.34 This is only for those willing to increase their overall position size in GOLD stock.

 

We are closing the covered LEAPS strategy in QQQ for a profit. The short-term puts are ITM with expiration tomorrow. If we finish here or lower, then buying them back would be expensive and actually raise our cost basis and overall risk. So, we think it makes sense to exit and take our gains. Also we own some put spread hedges in SPY into May. So, if the market continues lower, we have something that can gain further trading profits. While this is a nice profit of +$510 overall. We also have a losing QQQ butterfly that we entered into in January that will expire OTM this week for a loss of -$375. So the net result isn’t as big of a profit between the two trades. Sell to close:  QQQ Dec 18th, 2026 (monthly) 450.00 strike put Buy to close: QQQ April 19th, 2024 (monthly) 428.00 strike put Credit:  50.10 This is a profit of +$510 per spread traded. We have the following covered calls likely to expire OTM for a profit tomorrow but we will monitor and update: BKR April 19th – 36.00 strike calls CVS April 19th – 85.00 strike calls CVX April 19th – 165.00 strike calls DELL April 19th – 120.00 strike calls DIS April 19th – 125.00 strike calls GM April 19th – 43.00 strike calls SNOW April 19th – 190.00 strike calls SNOW April 19th – 220.00 strike calls WBA April 19th – 27.50 strike calls Z April 19th – 70.00 strike calls We have the following spreads that are unlikely to need adjustment/exit but we will monitor and update: AMGN April 270/267.50 put spread DELL April 110/100 1×2 put spread DKNG April 40/35 1×2 put spread QQQ April 390/360/330 put butterfly SNOW April 175/185 1×2 call spread

Rolled up and out on our covered calls in BAC. Buy to close: BAC April 19th (monthly) 36.00 strike call Sell to open: BAC June 21st (monthly) 40.00 strike call Debit: 0.36 – this order has filled Rolled up on our covered calls in DELL. This will allow us to keep 100 shares going forward. Buy to close: DELL April 19th (monthly) 90.00 strike call Sell to open: DELL April 19th (monthly) 120.00 strike call Debit: 27.00 – this order has filled We have closed and taken profits on our 1×2 put spread in Z. Sell to close: Z April 19th (monthly) 50.00 strike put (ratio of 1) Sell to close: Z April 19th (monthly) 45.00 strike put (ratio of 2) Credit: 2.98 – this order has filled We entered this spread for 0.45 debit. The result is a profit of +2.53 or +$253.00 per spread.

 

We bought a call butterfly spread back all the way back in August of last year in OXY. The trade was a long-term bullish expectation. We took profits on it this morning. We have surged and we are still closer to the long strike than the short as expiration approaches. Sell to close:  OXY April 19th (monthly) 65.00 strike call (ratio of 1) Buy to close:  OXY April 19th (monthly) 75.00 strike call (ratio of 1) Credit: 3.40 – this order has filled We are leaving the remaining OXY April 75 and 85 strike calls to expire worthless in a couple of weeks. However, if one wished to avoid the unlikely bear call spread risk, those options could be closed for a small cost as well.We are rolling up and out on our BRK.B April covered call as follows: Buy to close:  BRKB April 19th (monthly) 425.00 strike call Sell to open:  BRKB May 17th (monthly) 440.00 strike call Debit: 0.55 – this order has filled

 

 

We have sold a covered call against our TMUS shares as follows: Sell to open: TMUS May 17th (monthly) 175.00 strike call Credit: 0.88We have sold a covered call against our NEM shares as follows: Sell to open: NEM May 17th (monthly) 37.50 strike call Credit: 0.70 We have sold a covered call against our DKNG shares as follows: Sell to open: DKNG May 17th (monthly) 50.00 strike call Credit: 1.34 We have added a 1×6 call spread against our GOLD shares. This only works if you own 500 shares of the stock. If you own 200 shares for example, then you would do a 1×3 call spread and so forth. Your credit will be lower the fewer the shares you own. But the general outlook will be the same. Buy to open: GOLD May 17th (monthly) 16.00 strike call (ratio of 1) Sell to open: GOLD May 17th (monthly) 17.00 strike call (ratio of 6) Credit: 1.09 – please adjust according to how many shares you own!

 

 

We have sold a couple more of our stock holdings. Sold our 5 shares of XLC at 79.72 Sold our 15 shares of XLF at 40.93We have a couple of positions being “called away” over this weekend. We have 100 shares of DELL and 100 shares of CVS. No adjustments are required with those March covered calls unless you wish to retain the shares. In which case, you would need to “buy to close” the ITM covered calls. We have sold a put in DELL that would require us to rebuy the 100 shares sold but at a steep discount to current prices. Sold to open: DELL June 21st (monthly) 90.00 strike put Credit: 2.30 – this order has filled We have a covered call in BRKB that will expire this weekend. We resold another today to replace it. Sold to open: BRKB May 17th (monthly) 440.00 strike call Credit: 1.20 – this order has filled We have a covered call in MTCH that will expire this weekend. We resold another today to replace it. Sold to open: MTCH May 17th (monthly) 42.50 strike call Credit: 0.38 – this order has filled We have a covered call in Z that will expire this weekend. We resold another today to replace it. Sold to open: Z June 21st (monthly) 60.00 strike call Credit: 2.40 – this order has filled

 

We had sold a “weekly” covered call against some of our SNOW shares that expired last weekend. We have replaced it with a new covered call today. Sold to open: SNOW April 19th (monthly) 190.00 strike call Credit: 2.35 – this order has filled We have taken profits on the put butterfly spread in WBA today. Sell to close:  WBA March 15th (monthly) 22.50 strike put (ratio of 1) Buy to close: WBA March 15th (monthly) 20.00 strike put (ratio of 2) Sell to close:  WBA March 15th (monthly) 17.50 strike put (ratio of 1) Credit:  1.28 – this order has filled Profit of $0.68 per spread, a +113.3% return. We own two spreads that will expire OTM for a full loss. SNOW March 250-270-290 call butterfly CVS March 82.500-90.00 bull call spread We have an 80 strike ITM covered call in DELL and we will let 100 shares be “called away”. We also have a short put in DELL that should expire OTM for a full profit. DELL March 105.00 strike put We have the following covered calls that should expire OTM for a full profit. TMUS March 180.00 strike call BRKB March 420.00 strike call MTCH March 42.50 strike call We are monitoring the following covered calls more closely and will update tomorrow. CVS March 76.00 strike call DKNG March 43.00 strike call Z March 57.50 strike call