Micro-ETH Futures -- Big Swinging Dick

[The_Krakenite]

Special bulletin up-date!

Earnings for Sonos was on Wed. Looks like they missed target, but since sales was up huge for the x-mas season (well gee, who woulda thought?) the markets were happy with it anyway. You see, earnings/financial statements don't matter. We are in a new paradigm!

So while the stock had a noticeable rally due to missing target, it didn't shoot past the strike of 30 (yet). I'm still happy either way. Just sitting on my ass here, I'm thinking on making a market-scanner to find every ticker that has the key-word 'Meta' in it, and short the fucker while there is still plenty of down-side potential left.

Already went through this during the Virtual-Reality euphoria/bubble in my early university days. You remember back when every sci-fi movie had virtual-reality in it, and all you heard on TV was the new virtural reality universe we'd all be living in. And every library you visited was stacked with VRML coding books by the hundreds (and thousands more on order). Yeah, that didn't end well either. Same exact shit, but different dumbfuck generation now. LOL!

 

[The_Krakenite]

With Suncor somehow avoiding any bad news this week for the first time in like... ohhh 20-something years, I decided to throw in a couple covered-calls before it heads south again.

After doing some margin checking, it seems IBKR is willing to let me short calls Naked with almost no margin requirements. This is giving me some dangerous ideas for next week....

 

[The_Krakenite]

So I did it. Sold 10 NAKED calls on Suncor today. At first I had to wait a bit, then got a partial fill. Then while off on YouPorn I got another notice my complete order was filled. All in all, less than an hour in total to get what I wanted.

At $1, I got a quick 1K in premium for the 10 contracts and sitting on my ass all day.

Next thing I noticed was the total theta-bucks my portfolio was bleeding through today was over 900. Usually I don't push limits so hard (learned my lessons). I was confused since expiration Friday isn't until another couple weeks or so? Oooops, it's THIS FRIDAY! Well that explains a lot then.

 

[The_Krakenite]

Tomorrow is Feb 18, which is EXPIRATION FRIDAY! That means, today is the day just before, so last night I already planned what to do with today's pending crypto crash/dip.

Not to overly the obvious, but crypto still crashes the day prior to expiration Friday. I am still scratching my head here why this hasn't yet been arbitraged out of the way. I guess too many people are drinking the cool-aid on 'efficient market hypothesis' poison.

Well, today's sell-off didn't disappoint. I was waiting and shorted 20 more put contracts and netted over 2.3K of premium on ETHEREUM based ETFs.

Tomorrow will be interesting, there is a chance some of my older puts remain ITM, which means I'll be forced to purchase more Ethereum. Which is ok, potentially big growth this year in it. And if not, I'll just keep shorting covered-CALLS to get out of the mess regardless. LOL

I'll be back in a few hours when market opens and see about shorting more derivatives on SONOS.

 

[The_Krakenite]

Well shit, did you see that crazy PUT/CALL ratio today in the markets? So much bearish sentiment, people only wanted to trade PUTs. That was crazy. I had to hold off myself from selling more PUTs at these premiums. Markets in the red again, and crypto still falling further.

The irony, is Ukraine just made Bitcoin legal tender, and the banned Russian miners are re-starting up operations again. The hashrate spiked over 30%, and there is so much more bullish-news coming out for crypto the last two days, it's interesting how the markets lag the news so much. Haha.

EMH fails again... Why do universities still teach/preach this useless shit?


Again I definitely had to stop myself from shorting more PUTs today. Instead, I decided to wait-and-see for Monday. If crypto rebounds, I'll short calls. If it still free-falls or remains flat (hopefully around 2400 for ETH), I'll short more PUTs and go long ETH futures.

As for tonight, I'm going to be hit by assignment for more ETH. Happy to do so at the current discount for the day. The deltas tell the odds:

 

[The_Krakenite]

Assignments are in.

 

[The_Krakenite]

Todays log:

I wake up and my mom tells me that Russia invaded with tanks already. I rush to my computer and wait for crypto to cash down further, instead it slowly keeps rising. Well, I decide I better short PUTs on Ethereum NOW, before someone sets off a nuclear missile and all crypto shoots up to the moon (for reasons).

Sold 30 contracts on Ethereum ETFs, and laid down 4 covered-calls on my silly SONOS. Hey, as the Nasdaq keeps falling, at least I can (almost) break even with these CALLs.

As shown, I tried to sell 22 more covered-calls for Ethereum, but I couldn't get a bite at the value I wanted. That's ok, I'm not desperate, nor am I leveraged to the tits, so I can wait. Hopefully later this week ETH rallies (probably will happen if WW-III breaks outs, why not?) So I'll keep laying those CALLs out until I catch a premium at a strike I want.

That's it for today's report. I'm going to go off now for a bit to play World of Tanks, Civilization IV, and... go watch some more porn on Pornhub.

 

[The_Krakenite]

I had fifteen-hundred shares of XEG collecting dust in my portfolio. Seeing as this Blackrock ETF was trading at stupidly high evaluations lately, and iVol is high, I dusted them off a bit by selling covered-calls.

Crypto is crashing so hard today, I didn't dare touch that market.

 

[The_Krakenite]

After waking up and being told there is an invasion on... I rush to my computer hoping crypto has crashed much harder. Unfortunately, it just rallied up all day and is higher than it was yesterday!

So I sat all day trying to bottom-feed on a potential flash-crash on crypto, but it just slipped away so no fills there.

At least I finished selling covered calls on the rest of my oil/gas. Over half a grand made for sitting on my ass today, I'll take it.

 

[The_Krakenite]

Finally! Crypto going through a nice rally due to Russians & Ukrainians both going ape-shit long
on BTC today. I finally sold my 22-contracts of covered-calls into the rally before market close. Well worth the wait that was

And some people say that nothing good comes out of a war!