Weekly: WTF week? AMD BA CAT FB MCD

WTF? Boeing had its biggest point move in stock history (public since 1972). I was on the wrong side of that, short strangles and took a huge loss on the call side. I rolled the calls, and that roll got destroyed the next day, as BA kept moving higher.

I rolled the dice on FB and came up snake eyes. I guessed wrong, and also mangled the execution. BA and FB may have to go on my nemisis stock list, stocks to avoid. I add new positions in ALGN AMD CAT MCD after earnings.

Just as I pivot to slightly more bullish, the market sells off sharply on Thursday. Like I said, WTF?

Here is the sad tale of the tape: (p = puts, c = calls, sell means sell-to-open, cover means buy-to-close, there are a couple of long positions as part of ratio spreads, and one share purchase, number near end is price per contract).

Mon Sell TSLA JulW4 310 p 43

Sell NVDA JulW4 177.5 c 33

Sell IBB Aug 355 c 30Sell BRKB Sep 180 c 58

Roll COST down: Sell COST Aug 160 c 23
Cover COST Aug 185 c 02 for a 90% gain

FB bear backratio: Buy FB Aug 160 p 283
Sell 2x FB Aug 150 p 79 in ratio debit $125 per unit

Tue SPY backratio: Buy SPY Oct 240 p 246
Sell 2x SPY Oct 225 p 94 in ratio, $58 debit per spread

Sell MCD Aug 148 p 26 earnings
Sell CAT Aug 105 p 32 earnings

Sell SPG Sep 140 p 59

Wed Boeing gaps higher after earnings. I place a mid order when BA is around 228 to close my sold calls, but BA keeps moving higher. I cover with stock, as I pivot from short to long. However as the rally gains strength, I am near delta neutral at the close of 233+. You could say it was a bad day to be short Boeing as it had its largest point gain in company history (came public in 1972).

Buy BA shares 228.47 (equivalent to about a 1600% loss on the sold 220 calls)
Sell BA Aug 215 p 107

Sell BA Aug 237.5 c 93
Sell BA Sep 200 p 59

Sell BA JulW4 200 p 25

Sell QQQ Sep 130 p 37

CMG vertical credit spread, bear: Sell CMG Aug 385 c
Buy CMG Aug 400 c

Cover NFLX AugW1 160p 05

Sell-to-close SPY Sep 222 p 33 for a 75% loss on this leg

Thu Another painful day. BA keeps running, I rolled the dice on FB and came up craps, QQQ rally pushes past my stop. A trifecta of big losers.

Cover BA Aug 237.5 c 625 for 1200% loss
Cover QQQ Aug 145 c 213 for 400% loss

Sell-to-close FB Aug 160 p 41 for 75% loss
Looks like I was wrong about a market decline so I add delta
Sell SPY Sep 232 p 64

Just in time for a sharp sell-off. WTF?
Sell AMD Aug 17 c 12
Sell QQQ Sep 152 c 22

Sell NVDA AugW1 175 c 36
Sell BA Sep 260 c 55

Cover (buy-to-close) FB Aug 150 p 55% gain, but loss was more than debit on the spread.
It would have been difficult to mangle the Facebook trade any worse. Yikes. Thankfully the dollar loss is relatively small.

Fri Sell ALGN Aug 150 p 26

Sell TSLA strangle (before earnings):
Sell TSLA AugW1 275 p 57
Sell TSLA AugW1 400 c 43

a roll of the dice on Tesla before earnings, but the odds are in my favor