Yo Pit Crazies,

Frank “The Tank” Gregory goes live tonight to show you how to use Capitol Hill to your advantage.

Speaking of advantage, if you are an Option Pit subscriber do you have the app yet?  Well if you do you would catch the Monday special Pit Report event where we put together a trade from our weekly missives for Bill, Mark, Licia and myself.

One of my teaching tenets is that there is an ideal trade for every stock.  The trade might not be great from a risk reward standpoint but anyone can learn how to price a decent trade.  That is what we have been setting up weekly in the Pit Report for our App users on Monday’s.

As a reminder, any Option Pit student can use our web app to get trades and announcements to students.  Just contact [email protected].

We have a couple of wins running right now in the Pit Report.  I place all the trades myself. I place all the trades myself for all my services.

This is how they are doing.

MOS and QCOM going nuts

I am running a 100%+ gain in Mosaic Inc (Ticker: MOS) and 50% gain in Qualcomm Inc. (Ticker: QCOM).  With the crazy rally into the end of the year I am inclined to let them run.  The only stinker is Devon Energy Corp (Ticker: DVN) but our portfolio is nicely profitable.

Coming to the Pit Report class on Monday’s will show you how to set up trades. But also get a sense of a portfolio of overnight held option trades.

The Messy Trade log is here:

09/25/2023 STO PENN Jan19 20/15 puts spread 1.05 still open, spread is .50 so 10% return on risk

10/02/2023 BTO QSR Oct20 67.5 CALLS FOR .55  rolled down to 65 calls, made $25 or 25% on money in

10/09/2023 BTO INTC Nov17 34 puts and 37 calls for 2.68  sold the puts for $1.61 average so fa, sold the calls at $1.00 so .07 loss  INTC did run to $40 Wednesday

10/16/2023 BTO 1 DVN Jan19 50 calls for 2.95, BTO 1 DVN Jan19 45/40 put spread for .95

10/23/2023  Look at a GLD call buys but now trade

10/30/2023  BTO 1 GE Dec01 100 STO 1 GE Nov17 103 put for even money we will end up with a free put

11/06/2023

1 MOS Mar24 27.5 P/37.5 C ss for 2.50 top 

 STO 1 MOS Nov17 32 put at .45 closed .08

STO 1 MOS Nov24 32.5 puts .50  @ .05  

Rolled the 37.5 CALLS AT 2.50  BTO 1 MOS Mar24 42.5 call for 1.01

1 SVIX Dec15 31 1.45  1 @1.80

MOS strangle in cost 2.50  and closed .72 + .45 + 1.49  = 2.71 credit with 42.5 calls running

11/13/2023

2 QCOM Dec15 130 call 1.11  $2.25  funky strangle is $4.75 filling $4.77  sold 1 @2.90  stopping 2.00 on the second

1 QCOM Dec15 120 put  2.54  

Strangle Value $7.00 so up 50%

Note that there is a mix of long calls, long puts, spreads and a credit spread.  There is some balance but with a little edge per trade.

Come check us out.

One reason I am holding is because The Fed will get cold on rates with the inflation cooling.  Not knowing what the government is doing is a big problem lately.

Frank will help cut through the noise.  Sign up for his event tonight here.

To Your Trading Success,

AG