The market is still showing a lot of uncertainty and volatility as well street tries to make sense of all the increasingly bearish news. The VIX, the index that measure volatility, continues to rise, hitting 21 recently. The market kept edging lower yesterday, while stocks like AAPL sold off hard on their product release event. TSLA, MRNA and DASH all popped early, only to hit a downward sell off as Wall Street continues to prep for a downward swing.
#GME: Continues to be bearish and fighting against downward pressure. Continue to be short/theta hear without any adjustments
#AMZN/#GOOGL still continue to trade in range. Added additional long/theta plays as the trading range is sufficient to gain a full 100% return on theta
#MRNA : Spiked up early. I sold off the short put we had early in the market day and added additional long/theta plays by selling more puts at the 360 strike. MRNA shows continued volatility and is a great option play as of late
#TSLA: Is still having downward pressure as ARK continues to divest from its holdings. TSLA still has a strong support range, and I sold off more puts to gain on my long/theta play .
#AAPL: Sold off quite hard during their product release event. This is not unusual for the stock in these events, and I bought a large amount of puts to hedge on a huge downswing as I hold a lot of the underlying stock .
I will most likely close some positions and start legging into next week. However, with the increased volatility, premiums are still not having a lot of time decay, and are holding more value. I will keep an eye out and most likely will start trading momentum by taking naked call/pull positions and not trade on theta.