Week in review (July 3 - 7) - EXERCISED!
The losses begin.
One of my losing positions GIS got exercised 2 weeks before expiration, losing over $400.
It's a nice warmup for the next couple weeks, when I should be losing a whole lot more.
Despite this, I still opened a bunch of new positions last week, and tested out a new strategy.
Opened: #
- TGT
- BABA
- SE
- NVDA
- MSFT
- VZ (x2)
- TSN
- EOG
| Ticker | Action (open/close) | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| TGT | open | BCS | 2023-07-03 | 2023-07-21 | 145 | 150 | 0.15 | 2 | 2.8 | 27.2 |
| BABA | open | BPS | 2023-07-03 | 2023-08-18 | 75 | 70 | 0.7 | 1 | 1.4 | 68.6 |
| SE | open | BPS | 2023-07-03 | 2023-08-18 | 50 | 45 | 0.88 | 1 | 1.4 | 86.6 |
| NVDA | open | BPS | 2023-07-05 | 2023-09-15 | 340 | 335 | 0.75 | 1 | 1.4 | 73.6 |
| MSFT | open | BPS | 2023-07-05 | 2023-09-15 | 300 | 290 | 1.1 | 1 | 2.1 | 107.9 |
| VZ | open | BPS | 2023-07-05 | 2023-07-07 | 36.5 | 37 | 0.26 | 2 | 2.1 | 49.9 |
| VZ | open | BPS | 2023-07-06 | 2023-07-07 | 36.5 | 37 | 0.59 | 1 | 2.1 | 56.9 |
| TSN | open | BCS | 2023-07-06 | 2023-08-18 | 55 | 57.5 | 0.6 | 1 | 0.2 | 59.8 |
| EOG | open | BCS | 2023-07-07 | 2023-09-15 | 125 | 130 | 0.78 | 1 | 0.6 | 77.4 |
Closed / Assigned / Exercised: #
Closed a bunch of positions apart from GIS:
- GIS (assigned/exercised)
- SQ
- TSLA (iron condor)
- BABA
- VZ
- VZ (assigned / exercised)
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GIS | open | BPS | 2023-05-24 | 2023-07-21 | 80 | 77.5 | 0.37 | 2 | 0.2 | 73.8 | -426.200000000001 |
| GIS | assigned | BPS | 2023-07-07 | 2023-07-21 | 0 | 80 | -80 | 2 | 0 | -16000 | |
| GIS | exercised | BPS | 2023-07-10 | 2023-07-21 | 77.5 | 0 | 77.5 | 2 | 0 | 15500 | |
| SQ | open | BPS | 2023-06-28 | 2023-08-18 | 57.5 | 55 | 0.63 | 1 | 1.4 | 61.6 | 13.2 |
| SQ | close | BPS | 2023-07-03 | 2023-08-18 | 55 | 57.5 | -0.47 | 1 | 1.4 | -48.4 | |
| TSLA | open | BCS | 2023-06-28 | 2023-07-07 | 285 | 290 | 0.56 | 1 | 1.4 | 54.6 | 15.2 |
| TSLA | close | BCS | 2023-07-06 | 2023-07-07 | 290 | 285 | -0.38 | 1 | 1.4 | -39.4 | |
| TSLA | open | BPS | 2023-06-28 | 2023-07-07 | 220 | 215 | 0.24 | 1 | 1.4 | 22.6 | 20.2 |
| TSLA | close | BPS | 2023-07-06 | 2023-07-07 | 215 | 220 | -0.01 | 1 | 1.4 | -2.4 | |
| BABA | open | BPS | 2023-07-03 | 2023-08-18 | 75 | 70 | 0.7 | 1 | 1.4 | 68.6 | 32.2 |
| BABA | close | BPS | 2023-07-07 | 2023-08-18 | 70 | 75 | -0.35 | 1 | 1.4 | -36.4 | |
| VZ | open | BPS | 2023-07-05 | 2023-07-07 | 36.5 | 37 | 0.26 | 2 | 2.1 | 49.9 | 21.5 |
| VZ | close | BPS | 2023-07-05 | 2023-07-07 | 37 | 36.5 | -0.13 | 2 | 2.4 | -28.4 | |
| VZ | open | BPS | 2023-07-06 | 2023-07-07 | 36.5 | 37 | 0.59 | 1 | 2.1 | 56.9 | -43.0999999999999 |
| VZ | assigned | BPS | 2023-07-07 | 2023-07-07 | - | - | -37.5 | 1 | -3750 | ||
| VZ | exercised | BPS | 2023-07-07 | 2023-07-07 | - | - | 36.5 | 1 | 3650 |
- Closed Net Profits/Loss: -$367
Notes and Lessons #
GIS #
Could've cut losses early. Decided not to, and compounded my mistake by holding through earnings (hoping for a bounce back). Got assigned early after ex-dividend date. GIS also doesn't have that much volume, so probably shouldn't have even bothered with it in the first place.
VZ - Option Alpha trade ideas #
I signed up for a free trial account at optionalpha.com. They have a cool platform for option auto trading. I think I would use it, but it doesn't currently work with Interactive Brokers.
The platform also gives you ideas for credit spread trade ideas. You can filter based on Expected Value and many things. This is where I got the VZ trades from. One worked out, one did not.