IA Trade Alert (Patreon)

I closed out all my Put Positions that I sold as part of Synthethic Longs that were up 99%, i.e., were trading at 1% of what I sold them for to harvest. These were all expiring on Jan 17th 2025. I still have a lot more puts that I am nakedon but I only bought those back that were 99% off!

In other words, they are about to expire worthless on January 17th and had gained 99% in value, meaning I could buy them back for just 1% of what I originally sold them for - in total across well over 1000 contracts. This involved hundreds of contracts for companies like MSTR, CLSK, TSLA, SE, and PANW.

Selling Puts is a big part of my options strategy. That and selling calls of course.

I also sold a small portion (1/40th) of my MSTR stock to have some cash ready to pay taxes on the money I made from closing these bets. I was reticent to sell it so low, but the cost basis was nearly nothing. Tax decision.