Joe Yurillo

I typically roll my LEAPS approximately six months out. I currently have Strategy ($MSTR) LEAPS approaching this window. I’m considering converting my $MSTR to $IBIT during this transition. Since I sell Covered Calls on these positions, implied volatility is something to consider. It’s currently around 57% for $MSTR and 44% for $IBIT. This makes sense because there’s more risk involved with $MSTR since you’re paying a premium for the Bitcoin. Do you have any thoughts on this?

Weekly Options Update and plan for the week: We are now three weeks into the month, and things are starting to settle down. We have now banked $31,580 of our $40,000 January goal. With eight trading days remaining in the month, we can get there. 🟩🟩🟩🟩🟩🟩🟩🟨⬛️⬛️ $40,000 (I set my goal on the first of the month to be ~3.0% of my total portfolio value.) Although I am happy with the options' performance thus far, I am unhappy with my overall portfolio performance. As I mentioned yesterday, I am currently down 3.31% YTD and sitting at my YTD Low. As you can see, my losses are heavily concentrated, and I am looking for earnings to help them recover. Next week, I'll include the positional performance in my Saturday post instead of here. On to this week’s plan… Here are the options I have expiring on 1/26 and my plan for them as of now: Covered Calls: ✅ 9 $CELH $62 19% OTM. This is from a Call Credit Spread that hit my repair threshold, but soon after moved safe. I’ll possibly roll this tomorrow, but more likely will wait to see how the stock performs on Monday and possibly Tuesday. My cost basis on these is $59.79. ⛔️ 37 $FSLY $18 4% ITM. These were assigned at $17.5, so I expect them to be called away. If the stock price drops a little, I will consider rolling. My cost basis on these shares is $16.42. ✅ 3 $TSLA $242.5 14% OTM. I will wait until after earnings before I consider rolling these. My cost basis on this campaign is currently $232.45. ✅ 14 $U $37.5 13% OTM. I will look to roll these early in the week. My cost basis on these shares is $38.37. I was assigned $HOOD and additional shares of $U on 1/19 and will also be selling calls on these and $SOFI, whose calls expired on 1/19. Cash Secured Puts: ⛔️ 10 $CELH $55 6% ITM. These fell into the money after Friday’s plummet. I will see how the week goes before deciding whether to roll them or accept the assignment. Unless, of course, the stock rallies above my strike, which is always a possibility. ✅ 34 $FSLY $16.5 12% OTM. I plan to roll or close these early in the week. ✅ 10 $GTLB $60 12% OTM. Gitlab has been on fire lately. I plan to roll or close these after capturing additional premiums. ⚠️ 28 $PATH $22 1% OTM. These are right at the money. I will most likely roll them either way. I have $112k in cash that I will look to deploy. My February 2nd Call Credit Spread on $TTD is only 2% OTM, so I will watch that. Once again, I have eight trades expiring this week, which is an easily manageable number. Last week, I sold 4 Call Credit Spreads and only closed 1, leaving me with 5 open. I’m happy with this number, but I would consider adding a couple more. As always, I'll watch future-dated options to see if any need attention or can be closed/rolled early. #StockMarket #stocks #FinTwit #FinX #CashFlow #options #investments