AAPL is new trade posted in chat just now (but below are comments to everything else):
2/22: AAPL – Under $171, consider shorting Mar (3/2) $175/180 Bear Call Spread for mid-point (currently $.90/share) (8 DTE). Breakdown from 5-day narrow consolidation with Topping Tails after big move off low, short-term Income Trade. Stop $175.02.
Adjustments and Comments on Weekly Option Trades
2/21: BA – Shorted Feb (2/23) $350/340 Bull Put Spread for $.50/share. No Stop, if expires ITM, roll to Mar (3/2) $345/335 Bull Put Spread. 2/22: With market iffy, let’s close here at $.48/share for scratch, will reload when SPY stabilizes.
2/5: BIDU – Shorted Feb (2/9) $225/215 bull put credit spread for $.95/share. 2/6: Rolled Feb (2/9) $225/215 put credit down to Feb (2/16) $215/205 bull put credit spread for $1.15/share debit (so new basis is $.20/share debit). 2/20: Under $242.14, consider selling Feb (2/23) $252.5/262.5 bear call credit spread for mid-point (currently $64/share) to generate more time decay.
2/5: INTC – Shorted Feb (2/9) $45 puts for $.29/share. 2/9: Rolled the Feb (2/9) $45 puts to Feb (2/16) $44 puts for a credit of $.50/share to increase our total credit to $.79/share. 2/15: Shorted Feb (2/23) $44.5 naked puts for $.21/share to generate more time decay, increasing our total credit to $1.00/share. 2/16: Feb (2/16) $44 puts expired worthless. 2/22: Bid $.01/share to close Feb (2/23) $44.5 naked puts, which will give us $.99/share net gain.
2/21: INTC – Shorted Mar (3/2) $45 puts for $.27/share. Stop: None, will manage/adjust/roll as needed.
2/16: NFLX – Shorted Feb (2/23) $290/305 bear call spread for $.98/share. 2/20: Sold Feb (2/23) $270/260 bull put spread for $.60/share to generate more time decay and convert to iron condor. 2/21: With market weakening, close Feb (2/23) $270/260 bull put spread for $.40/share, booking $.20/share gain. 2/22: Mid-point to close call spread is $.29/share, move stop $283.52 to protect gains and bid $.15/share to close.
2/22: SPY – Shorted Mar (3/2) $275/280 Bear Call Spread for $.80/share. Stop $275.33.
2/22: WYNN – Shorted Mar (3/2) $170/175 Bear Call Spread for $.82/share. Stop $169.22.
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Greg Capra
Managing Director of Master Trader
Pristine’s Founder and Creator of the Pristine Method
Dan Gibby
Chief Options Strategist
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NOTE: Master Trader will show opening and closing prices of all stock and option trades. We do not recommend proper share size for your particular trading style, risk tolerance, or account balance. We urge you to calculate your own share size based on your individualized risk parameters, Trading Plan, and familiarity with the proposed trade strategy and risk.
NOTE: Master Trader and its representatives might have existing positions in these and other trade recommendations before or after suggested herein. Additionally, we often manage them differently for internal purposes based on different risk parameters than noted herein.
