## Week #16 - April 21 Options Trades:
- 2023 "4-5-6" Social Media Options Challenge - Update
- SQ - How I trade Block's Covered call in a single week.
- April 21 Trades Summary
- Bitcoin ended weak!
- Current Trend

##### 2023 "4-5-6" Social Media Options Challenge - Update
During week #16, I adjusted the "6" - June 30 Iron Condors on SPY for $0.10 Premium.  This means I collected around $55 after the fees.  If SP500 stays between 3800-4200 in the coming week, I will make money on my SPY position.  All I need to do is let THETA DECAY happen!!
![image.png](https://images.hive.blog/DQmUMRhNgHgDrtzZ8D5qTbSg3RWC9yFPVWMZwd7KpNU8oiL/image.png)



##### SQ - How I trade Block's Covered call in a single week.
I have 2 Covered calls on Block (aka Square).  I start with a covered call higher than where I think it would go.  Then if the stock drop, I add some risk back into the trade by LOWERING the strike price.  As you can see, this week, I did it 4 times.  I ended the trade on Friday and MOVED into next week (APRIL 28). Covered call at $69!!  This works if the stock stay in a narrow range.  If SQ moves up, I can roll the STRIKE price UP (and add more time to the option).
![image.png](https://images.hive.blog/DQma7e5ag65SzJBmpDfva5XFDSp49agVSGsbZZVDVeNzPhc/image.png)



##### April 21 Trades Summary
- GILD - Adjust the positions.
- Visa - Rolled a covered call up $10 in STRIKE PRICE.  Collected $169 today.
- SQ - Rolled a covered call UP to $69 and Out one more Week.
- MRVL - Rolled a covered call UP to $41.50 and Out one more Week.
- UA - Waiting for UA to recover.  Added more time to options.  
![image.png](https://images.hive.blog/DQmdVwSSrRat4xsThkbjoE1mUExVahN747ZU3apwaffWo3s/image.png)



##### Bitcoin ended weak.
Last week was good for Bitcoin/Ether.  This week is not so good.  Since I'm using 1 year or longer option, there isn't much I need to do.  I will add more to my position as the price of BTC/ETHER drops.


##### Current Trend
The monthly trend for S&P 500 is still upward.  
![image.png](https://images.hive.blog/DQmeh27x4ygfuT3SgdmAvednxtCGG27GSUTjDT1QcbVNdp6/image.png)  

This week is a RED week.
![image.png](https://images.hive.blog/DQmTfArHMGGe8zvFSDmZmPSnxrPP8TDDCkNrt8RsJrE1ruE/image.png)

What would I LIKE?  I want the markets to trade between 3700-4000 in the near-term.  I think with EARNING, anything is possible!!  Just make sure to hedge properly or take advantage of the market's opportunities.

My final summary will be released over the weekend.

Regards,
Solving-Chaos

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