First, I took advantage of the market, volatility in MRNA options and once again played out some index options strategies.
First up, I sold MRNA 36.50 PUTS, MRNA took another leg down but held support and I sold 35.50 PUTS, both expiring on Friday. The volatility makes these quite profitable. MRNA, recovered off a strong bottom today with a large volume buy at the close and a strong after-market trajectory. These close Friday so will probably take a good profit off the table tomorrow unless the market shows some stability. Palantir reported great earnings, so that should buoy the Nasdaq and maybe some sympathetic action on the SPY.
For index options, same catalyst with different message, Tariff pause with Mexico caused a reversal in a former 600-point fall in the DOW futures and a recovery to green. Canada Tariffs on-hold now as well, maybe another catalyst for tomorrow's indexes.
SPY followed suit. You can see the volatility and opportunity today and news catalyst provides. These are 1 contract watchlist items for Long-Puts expiring today 3 Feb 2025.
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