Shared by
jfabiano
S&P add day and sure enough was some crazy price action especially in the last hour of trading. Went from $670 area to $630 area then huge bounce into the close.
Shorted the 10-15 delta calls and was looking great until the massive reclaim last 10 mins of the day. $635 to $680 area and pushing higher A/H. Just looking for the luster to come off and the retail get craped on. Margin Amount in ROTH $35K with net credit $3.09/contract or $2,159 (net) as max profit in 7 days. 320% annualized return if held and expire worthless.
1,520.85+638.34=$2159.19 (ROTH)
12/21 nice gap down overall markets with TSLA leading the way down (4-5%). Took off the ROTH and $800 short leaving the $850 short margin account to potentially expire worthless.
Realized 520% annualized gain ($2,006/35,000)*91(365/4 days held).
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-12-18 15:24:00 | DEC 24 ‘20 $800 CALL | sell | $9.470 | short |
| 2020-12-18 15:24:00 | DEC 24 '20 $850 CALL | buy | $6.420 | long |
| 2020-12-18 15:31:46 | DEC 24 ‘20 $800 CALL | sell | $7.750 | short |
| 2020-12-18 15:31:46 | DEC 24 '20 $850 CALL | buy | $4.550 | long |
| 2020-12-21 10:41:00 | DEC 24 '20 $850 CALL | sell | $0.3100 | 0 |
| 2020-12-21 10:41:00 | DEC 24 ‘20 $800 CALL | buy | $0.5200 | 0 |
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