Selling the recent $375 line support after new COVID strain in UK caused a large market gap down. Only 1 contact 10DTE with 2 days being holiday's.
12/31 continues it's relentless selling pressure now below the $346 last support and getting into the $342 area today. Next support line $325 to fill the gap. I sold the 15DTE $370 call as will be assigned over the weekend on the $380 put (1) contract and long 100 shares with basis of $375. This will bring my B/E down to $367.50 with profit potential of $250.
1/14 Rolled out the $370 calls on a nice spike and pullbaack to $374 area. Got $7.50 net so move my B/E now to $360 with total profit potential of just under $1K if assigned next week
1/22/21 - Assigned on the $370 calls net profit $998 or 39% annualized on $37,500 initial basis for the 3 weeks holding period.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-12-21 10:13:00 | DEC31 20 380 PUT | sell | $5.000 | short |
2020-12-31 09:50:00 | JAN15 21 370 CALL | sell | $7.500 | short |
2020-12-31 16:06:14 | DEC31 20 380 PUT | buy | $5.000 | 0 |
2020-12-31 16:06:27 | ZM | buy | $367.508 | long |
2021-01-14 09:55:00 | JAN15 21 370 CALL | buy | $7.500 | 0 |
2021-01-14 09:55:00 | JAN22 21 370 CALL | sell | $7.500 | short |
2021-01-22 16:47:21 | JAN22 21 370 CALL | buy | $0.0000 | 0 |
2021-01-22 16:47:21 | ZM | sell | $370.000 | 0 |
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