We had this week coming off of Labor Day Weekend. I don't know about you, but having a nice banking holiday here and there is much needed. One of the perks of the holiday is that all our theta positions gained value without having any risk on a trading day. So essentially , with my trade I am only fighting against 4 days instead of 5.
It looks like the market hasn't had any fundamental change, and we will have to keep posted on any delta variant and Jackson Hole Fed adjustments. I am not sure when tapering will stop, but it seems the White House is content jamming more trillions into the US economy . However, a lot of the Covid Relief funding has been terminated, so we could start to see market weakness, an inflation spike and of course a housing crisis with people not being able to avoid paying rent once the government allows evictions again.
Current Positions:
#AMZN: Long/theta selling 3250 strike Puts
#DASH: Long/theta selling 175 strike puts
#GME: Short/theta selling 400 and 460 strike calls. Will continue to monitor this, but the stock is showing greater weakness with a possible sell off
#GOOG: Long/theta selling 2700 and 2595 strike staggered puts
#MRNA: Long/theta selling 350/335/330 strike puts, and will continue to monitor as the stock is showing support and bullish momentum
#NVDA: Long/thetaselling staggered 215/205 strike puts, and a tiny hedge selling 235 calls. The stock is showing very bullish technicals and will possibly buy calls and unwind the 235 strangle hedge
#TSLA: Long/theta selling 560/580/590 staggered puts with a strangle hedged selling 805 strike calls. Stock is looking bullish but still seeing some resistance. Might buy calls this morning and then sell staggered calls on the spike to create a nice spread.
Overall, things are looking good and I don't see too much volatility coming in this week. I legged in early last week , so I was able to capture more premiums than usual. Best of luck trading out there.
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