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Thanks for watching, here’s my credit spread trading journal for Friday, March 19th 2021.

*VIX*
The VIX was slightly down and it closed at 20.95, it is back above 20 again and time will tell if it stays above 20 or not. Remember, VIX above 20 is ideal for selling credit spreads, so I'll hope it stays above 20 for the rest of the month.

Today was triple witch expiry and March contracts expired today.
Both legs of my MSTR position expired ITM which means I took max loss on the trade.

The full loss on the MSTR position means my year-to-date PnL has now swung into the red for the first time and I am looking forward to a better second quarter.

*Trade Ideas*
I had no new trade idea today, but I did have 2 new trade ideas late last week before the window of opportunity closed.
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*Open Positions*

MSTR
Trade - 820/810 Put Spread @ 4
MSTR Closed at 777
IVR = 64.4
My GTC order to buy back the spread at $10 was not filled.
Both the 820 and 810 Put spreads closed in the money.
CME is yet to exercise the options, they usually do that on Saturday.
Once the positions are netted of and I know the exact loss amount, I will post the closed trade.

GNOG
Trade - 17.5/12.5 Put Spread @ 1.50

GNOG Closed at 16.89
IVR = 55.7
P&L = -$55/contract
My short 17.5 Put is slightly ITM

GNOG sold off over the last couple of weeks with the rest of the market,
but unlike some other tech stocks it actually hit rock bottom and bounced off it.
It was up today on above average volume.
No action required on this at the moment.

BLUE
Trade - 30/25 Put Spread @ 1.90

BLUE Closed at 31.58
IVR = 71
P&L = $10/contract
My short 30 Put is OTM

BLUE also sold off over the last couple of weeks with the rest of the market,
It hit rock bottom and currently consolidating above 30
No action required on this at the moment.

*Watchlist*
BLUE
BLOK
MSTR
TAN
ARKK
PBW
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Learn the Trading Strategy & Follow My Trade Ideas:
Join Here - https://www.vertical-spread.com/
Email Me - [email protected]
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