This last week was another good one. Not try jinx myself, but I haven't had a losing week in over 2 and half months. So far, I have a 300% return since then. So question is what has been working.
First, continuing to short AMC and GME by selling OTM calls. I have been laddering down strikes daily as the price continues to drop. This strategy seems to becoming to a close, especially on AMC, as premiums have continued to drop as volatility and volume have decreased. If you look at my previous post on AMC, you can see a more in depth description on the trading strategy. GME, still has some promise, so I will continue to short that by selling calls, as premiums at 240 strike , with the stock at it's current level, has EV.
Second, the trading range on TSLA is still locked into about a 100 point spread, so you can sell week ahead weekly options at strikes about ~150 points from current price levels with still overpriced premiums. This coming week , be careful about the earnings report. Because of this, premiums are quite juicy, as the market expects a big price move. I will taper my position around this, but the market seems heavy long .
Third, NVDA has been a great trade, as we own a lot of the underlying asset at a pre-split avg price at ~200. However, the split has dropped the price by 1/4, so there is going to be a lot tighter moves, and there isn't has much trading range to work with. I will continue to work around my underlying long position, but still think there is a range to work around in the 180-205 range.
Lastly, MRNA has been popping like crazy on Delta variant news. I have been squeezing this as well, but am heavier long, and going into next week I am very long, selling a lot of puts has the price continues to pop. I do have a hedge by selling a 400 strike call, but will gladly let the go and possibly buy a call as another hedge on the short play.