Weekly: Last FAANG standing

What a crazy week! I lose 6% this week. Tesla then Amazon, then the rest of the market are the culprits. I am right around break even for the year. Trading activity doesn’t always mean profits. SPY is right near break even for the year as well. The good news is that I survive some unpleasant surprises. It could have been a lot, lot worse, given the risky nature of selling naked options.

Rule #1 Live to trade another day

The subject line is last FAANG standing. Right now it is Apple. The others: Alphabet, Amazon, Facebook, Netflix all fell more than 20% from their highs. Apple reports soon. There are still a few stocks doing okay, such as Boeing, Microsoft, McDonalds. Banks have rolled over with the market. Most foreign markets are down for the year.

Mon Sell SPG Dec 140 p 60

Sell BRKB Dec 170 p 48
Sell COST Dec 195 p 84

Sell AXP Nov 95 p 25
Sell TSLA Nov2 350 c 40

Sell SPY Nov 288 c 28
Sell NFLX Nov9 380 c 97

Tue Another ball-buster day for me, down 2%. I get whipsawed out of two positions during the morning lows, then Tesla burns me bad. Noted short-seller Citron says they are now long TSLA. Ouch.

Cover IWM Nov 150 p 416 big loss

Cover SPY Oct26 272.5 p 396 big loss
Sell TSLA Nov 200 p 242

Sell TSLA Nov2 235 p 293
Sell NVDA Nov2 250 c 42

Sell COST Dec 260 c 48
Sell AAPL Nov 245 c 54

Sell BRKB Dec 230 c 51
Sell FB Nov 185 c 27

Sell AMZN Nov 2200 c 219
Sell NFLX Nov 400 c 45

Wed Bad turns into worse as I lose about 8% by the close. I take an additional hit after the close when Tesla reports good earnings.

Cover NVDA Oct26 210 p 615 big loss
Cover FB Oct26 150 p 272 big loss

Cover QQQ Nov 168 p 526 big loss
Cover SPY Nov 268 p 592 big loss

Sell AMZN Nov2 2050 c 239
Sell BRKB Nov 220 c 33

Sell QQQ Nov 184 c 25
Sell SPY Nov 285 c 45

Sell NVDA Nov2 240 c 40
Sell AMZN Dec 2300 c 261

After hours bot TSLA shares @316.75
another lot at 330.67

Yikes!!!!!!!

Thu Big rally day. I make back all of Wednesday’s loss. Then after hours, Alphabet and Amazon report poor earnings. We will see what Friday brings. I did a lot of Tesla trades. Mostly my timing was poor, but I survived the surprise earnings report (moved up by 2 weeks) and the big gap move. Even with poor execution, my middle road let me survive.

Cover QQQ Dec 193 c 27 profit
Cover NVDA Nov2 240 c 29 profit

Cover AMZN Nov 2200 c 190 profit
Cover AMZN Oct26 2250 c 05 profit

Cover TSLA Nov 375 c 225 daytrade profit
Cover TSLA Nov2 330 500 daytrade profit

Cover SPY Nov 285 c 33 profit
Cover QQQ Nov 185 c 19 profit

Roll TLSA for 141 credit Cover TSLA 225 p 200 profit
Sell TSLA 245 p 341

Roll NFLX for 55 credit Cover NFLX 400 c 26 profit
Sell NFLX 375 c 81

Sell TSLA Nov23 225 p 234

Sell TSLA Nov23 375 c 233
Sell TSLA Nov 360 c 305

Sell TSLA Oct26 335 c 59
Sell TSLA Nov9 340 c 505

Sell TSLA Nov 375 c 288
Sell TSLA Nov2 330 c 620

Fri Cover BRKB Nov 200 p 495 big loss
Cover NVDA Nov2 250 c 03 profit

Cover QQQ Oct26 165 p 136 loss
Sell TLSA Nov 250 p 254

Sell BRKB Nov 185 p 110
Sell AMZN Dec 2000 c 705

Sell SPG Dec 150 p 77
Sell QQQ Dec 190 c 25

Sell AMZN Nov2 1800 c 230
Sell BA Nov 400 c 80

Sell LOW Nov 105 c 28
Sell MSFT Nov 120 c 15

Sell NVDA Nov2 230 c 34
Sell NFLX Nov 360 c 110

Sell TSLA Nov2 285 p 150
Sell TSLA Nov 265 p 320

Sell BA Dec 295 p 213
Sell AMZN Nov2 1450 p 239

Sell TSLA Nov9 300 p 585
Cover TSLA Oct26 335 c 254 big loss

Roll TSLA 350 credit: Cover TSLA Nov 265 p
Sell TSLA Nov23 285 p

Roll TSLA 545 credit: Cover Nov23 245 p
Sell TSLA Nov30 275 p

Sell AMZN Nov9 1475 p 649

Sell TSLA Nov 270 p 310
Sell TSLA Nov30 385 c 395

Sell TLSA Nov 370 c 400
Cover AMZN Oct26 1600 p 107 profit

Sell TSLA Nov30 400 c 438
Sell AMZN Nov 1875 c 445