I continue to layer Bull Puts as we are in this aggressive wave higher that should continue up into the 3420-3450 price levels over the next 1-2 weeks.

I expect DIS to continue to rise into the 146-148 price levels over the next 1-2 weeks and should hold above the 140 price level during that time.

Another Bull Put that I've layered as we are in this aggressive wave higher that should continue up into the 3420-3450 price levels over the next 1-2 weeks.

I continue to layer Bull Puts as we are in this aggressive wave higher that should continue up into the 3420-3450 price levels over the next 1-2 weeks.

As discussed in our 360 Review on 2/7, I expected that the short term corrective wave would end sometime between Sunday (02/09) evening and Monday morning which would then be the beginning of an aggressive wave 3 that would likely extend up into approx. the 3400-3440 price levels. Now that price has validated those assumptions, I'm layering on another bull put to take advantage of the continued migration higher that is expected in the near term. Here's my ThinkorSwim Shared Chart: http://tos.mx/FFxV6mH

FILLED ORDER for 1.50 credit: A welcomed intra-day pull back giving me the chance to layer another bull put for this Wednesday (02/12) expiration. Expect price to finish above the 3360 price level by 02/12.

Nice test of the previous auction zone this morning that so far is confirming it wants to hold. As such, I'm opening this position to benefit from a hold of the 3330 price level. Here's the chart of the auction zones I am following for the /ES and SPX: http://tos.mx/XmGJlrc

With the breakout in the SPX, I'm opening this position to benefit from the pending move up to the next auction zone as seen by ascending black lines on the chart that has been shared with this position: http://tos.mx/XmGJlrc

***FILLED ORDER*** ADJUSTMENT 02/04/2020 @ 11:30 AM ET: With the SPX coming into another auction zone at the 3300-3305 price level, I decided to roll this position one more time as I still think it takes until after this Wednesday 02/05 before we break above the 3320 price level. Remember, this position was a maximum loss that I am simply adjusting to reduce the overall loss. I rolled this position from 02/05 expiration out to the 02/07 for a 0.55 debit which leaves me with a net debit from all of my adjustments of 0.90. I will likely layer on another bull put if we can retrace down to approx. the 3290-3285 price levels between today(02/04) and tomorrow(02/05). ============================================================================================================== ADJUSTMENT 02/03/2020 @ 12:18 AM ET: As discussed in our Trade Talk meeting on 02/03 here: http://thesupertrader.com/trade-talk?date=02-03-2020 I went ahead and rolled this position out to 02/05 as it was the least expensive manuever at just a 0.40 debit to get a bit more time on this position as I continue to expect a break out of the short term corrective sequence this week. My current net position is a debit of 0.35 which means that even if we finish above 3320 by this Wednesday I will still have a 0.35 loss, which was expected, but is a far less significant loss than the 4.95 loss I was facing this afternoon by keeping it in the 02/03 expiration. ============================================================================================================== ADJUSTMENT 01/31/2020 @ 11:20 AM ET: As discussed in our position review meeting on 01/30 here: https://thesupertrader.com/pmr-01-29-2020/ I went ahead and made an adjustment to this position. This is what I did. I rolled my bull put with the 3320 short put and 3315 long put from 01/31 expiry out to 02/03 expiry for a 0.20 debit. I will need to make another adjustment on this position on Monday 02/03 afternoon but am looking to do so closer to the 3300 price level. I have a net credit of 0.05 left on this position. ADJUSTMENT 01/24/2020 @ 12:25 PM ET: I bought to close the bear call side of this iron condor for 2.50 and will replace that position when we move back up to the resistance level within the auction zone we are trading within. As I had a net credit of 2.75 between the bull put and bear call and with the 2.50 cost to close the bear call I am left with 0.25 of net credit. =========================================== ADJUSTMENT 01/22/2020 @ 3:22 PM ET: PLEASE READ THOROUGHLY AND IF YOU HAVE ANY QUESTIONS PLEASE COMMENT IN THE GROUP CHAT. As per our discussion in our group meeting on 1/22 which can be viewed here: https://thesupertrader.com/pr-01-22-2020/ I did the following: Adjustments Explained SPX Bull Put (Jan 24 expiration) – First, I closed out the Jan 24 expiry 3260/3255 Bull Put for 0.10 debit. I had originally collected 0.80 on that position which leaves me with a net profit of 0.70. Next, I opened a new Bull Put with the Jan 31 expiry using the 3320 Short Put / 3315 Long Put for 1.70 credit. Total collected premium from Bull Puts: $2.40 SPX Bear Call (Jan 24 expiration) – Lastly, I rolled the Jan 24 expiry Bear Call from the 3260/3265 out to the Jan 31 expiry using the 3320 Short Call and the 3325 Long Call for a 2.00 debit. As my original credit was 2.35 on the initial bear call this leaves me with a net credit on the bear call of 0.35 Overall between the Bear Call and the Bull Put I have a combined credit of 2.75 and as they share the same short strike in the same expiry my total risk is 2.25. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ADJUSTMENT 01/15/2020 @ 11:00AM ET: As per our discussion in our group meeting on 1/14 which can be viewed here: https://thesupertrader.com/pr-01-14-2020/ I am rolling this position out to Jan 24 expiration which I was able to do for a debit of 0.60. This brings my net credit on this position to a total of 2.35. I expect 3260 to hold and the market to retrace before heading to 3300. This is the weekly option Jan 17th not the AM settlement.

ADJUSTMENT @ 10:57 AM ET on 02/07/2020: I rolled my 2000/1995 bull put up to the 2075 short put and 2070 long put for a 2.17 credit and maintained the 02/07 expiration. This is admittedly an aggressive maneuver as it now requires the stock to finish above the 2075 price level, but based on what I am seeing, the stock should finish comfortably above 2075 this afternoon. This leaves me with a net credit on this iron condor of 0.86 credit. ============================================================================================================== ADJUSTMENT @ 2:05 PM ET on 1/31/2020: I went ahead and rolled this position out to Feb 7 expiration and up in strikes. This is what I did. 1) I rolled my 1750 short put and 1745 long put from 1/31 expiry and up in strike to the 2000 short put and 1995 long put out to 2/7 expiry for 1.59 credit. 2) I then rolled my 1975 short call and 1980 long call from 1/31 expiry and up in strike to the 2100 short call and 2105 long call out to the 2/7 expiry which cost me 4.20 debit. I did this to minimize my loss from the maximum 3.70. My original credit was 1.30 + addt. credit from moving bull put of 1.59 minus the 4.20 debit from rolling my bear call gives me a net debit of 1.31 which cuts my expected loss my over half as long as we stay between 2100 and 2000 next week. ============================================================================================================== This is somewhat of an earnings play that takes advantage of the expectation that AMZN stays within or near its two major auction zones. One being a pivoting zone as seen by the ascending purple lines on the chart and the other an accumulation zone represented by the green lines on the chart.