Weekly: Both sides now

It was a good week for buy-and-hold, especially tech and defense stocks, not so good for strangle sellers. I get hit on both sides, taking big losses in BA, NVDA, ULTA. It could have been a lot worse. I started covering sold calls on NVDA at 155, it closed the week at 165. A 27 point move (about 20% on 138) in a short time period is going to cause problems for strangle sellers. The good news is a slight gain for the week, but I fall further behind the bogey of buy-and-hold on SPY.

Here are the trades (p = puts, c = calls, sell means sell-to-open, cover means buy-to-close, number near the end is price per contract):

Mon Sell NVDA Jul 138 p 103
Sell NVDA JulW4 135 p 95

Roll BA: Cover BA Jul 175 p 05
Sell BA Aug 180 p 75
Sell BA Jul 195 p 29

Roll LMT 70: Cover LMT Jul 255 p 15
Sell LMT Aug 260 p

Roll TSLA 56: Cover TSLA Jul 400 c 09
Sell TSLA Jul 352.5 c

Roll ULTA : Cover ULTA Jul 290 c 20
Sell ULTA Jul 280 c

Roll IBB 140: Cover IBB Jul 287.5 p
Sell IBB Aug 285 p

Tue Ulta Beauty and NVDA move against me. They both cross the strike price, which is my mental stop level. I cover both for big losses.

Cover ULTA 260 p 810 for a 1100% loss
Cover NVDA JulW2 155 c 276 for a 500% loss

Sell BA Jul 197.5 p 31
Sell NVDA Jul 142 p 46

Wed Another frustrating day, as more stops get run. Percent loss is vs. premium collected.

Cover BA Jul 207.5 c 278 for a 600% loss
Cover SPY Jul 225 p 03 buying power move for 95% gain

Cover NVDA Jul 120 p 03 for 93% gain
Cover NVDA Jul 160 c 420 for a 500% loss

Sell BA Aug 185 p 68
Sell QQQ Aug 130 p 48

Sell NVDA Aug 120 p 70

Fri Sell QQQ Aug 132 p 30