Recap: Trade log for the week of March 30
The market finally caught a bounce last week, even if the macro backdrop still looked messy. Trump saying Tuesday that U.S. forces could be out of Iran in two or three weeks kicked off a relief rally, and by Thursday’s close the S&P 500 had climbed from 6,369 last week to 6,583, the Nasdaq from 20,948 to 21,879, and the Russell 2000 from 2,450 to 2,530. VIX cooled from 31 down to 23.9. At the same time, though, oil still finished above $111 and the IEA was warning that April supply constraints could be worse than March, so this did not feel like a clean all clear.
Most of the work got done Monday. We closed the FCX $56 CSP carryover at $1.49, closed the QCOM $140 covered calls in both accounts at $0.02, and closed the NVDA $185 covered call from Friday at $0.06. Once those were off, we just sold fresh premium back into the bounce. QCOM went right back out at the same $140 strike in both accounts for 4/10, and NVDA was reset lower with a new $182.5 covered call for 4/10. DG was left alone with the 4/10 $135 call already on.
FCX was the only put trade this week. After taking off the $56s Monday, we sold the 4/10 $55 CSPs for $2.00 and closed them the next day at $1.03. That left the full FCX sequence basically back to flat after last week’s damage, so the decision was just to play it safe and get out near break even while the stock had bounced hard. In this kind of tape, that was good enough.
Barrick and DG remain the only real carryovers now. Premium this week was lighter at $285, but that is fine. This was more of a cleanup and reset week than an aggression week. The bounce helped, but with oil still where it is and the Iran headlines changing every day, the goal was to keep duration short and let the market prove the move has some staying power.
| Type | OpnOpen | Exp | ClsClose | TicTicker | StkStrike | Qty | Fill | ExtExit | Fee | Cap | P/L$ | ROC |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CC | 3/30 | 4/10 | QCOM | 140 | 1 | 0.30 | 0.00 | 1.05 | 16.75k | 28.95 | 0.17% | |
| CC | 3/30 | 4/10 | QCOM | 140 | 1 | 0.30 | 0.00 | 0.67 | 16k | 29.33 | 0.18% | |
| CSP | 3/30 | 4/10 | 3/31 | FCX | 55 | 2 | 2.00 | 1.03 | 2.30 | 11k | 191.70 | 1.74% |
| CC | 3/30 | 4/10 | NVDA | 182.5 | 1 | 0.36 | 0.00 | 0.67 | 19.15k | 35.33 | 0.18% |
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Open positions from previous weeks that are counted towards deployed capital. These positions did not generate premiums this week.
Closed positions from previous weeks that are counted towards deployed capital. These positions did not generate premiums this week and may have reduced premiums earned from previous weeks.
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