A Random Patrick

📅 May 1st EOD Recap — The good, the great, and the one that stung. 🌶️ THE WINS ✅ $SNDK × 4 — CLOSED 🔒 📥 Opened: 4/14 @ $1.99 | 📤 Closed: 5/1 @ $0.10 💰 +$756 | 95% of max | 17 days $AMD × 3 — CLOSED 🔒 📥 Opened: 4/27 @ $1.39 | 📤 Closed: 5/1 @ $0.60 💰 +$237 | 57% of max | 4 days (Earnings next week — no reason to hold through the unknown) $SOFI × 12 — CLOSED 🔒 📥 Opened: 4/29 @ $0.40 | 📤 Closed: 5/1 @ $0.16 💰 +$288 | 60% of max | 2 days THE LOSS ❌ $ASTS × 3 — MAX LOSS 🔴 📥 Opened: 4/20 @ $0.82 | 📤 Closed: 5/1 @ $2.00 💸 -$354 | Full max loss (Was $75+ premarket. Opening bell told a different story.) NET DAY P&L: +$927 🟢 The ASTS loss stings — no sugarcoating it. But here's the thing about defined risk: The loss was capped. While ASTS cost us $354, the other three trades returned $1,281. The system absorbed the hit and still printed a strong green day. That's why we define our risk on every single trade. 🛡️ One red trade can't blow up the account when max loss is baked in from entry. On to next week. 📅 NFA. Take the wins, absorb the losses, stay in the game. #OptionsTrading #ThetaGang #BPS #PutSpreads #RiskManagement

⚙️ Risk Engine on autopilot this morning. Tied up in meetings until early afternoon — but the bids are already set. 🎯 📋 Close orders queued at open: $SNDK 860/855 BPS × 4 @ $0.05 $AMD 305/300 BPS × 3 @ $0.40 $ASTS 75/73 BPS × 3 @ $0.40 $MCD 290/287.5 BPS × 1 @ $0.25 $STX 610/605 BPS x 1 @ $0.15 $MU 500/495 × 2 @ $0.80 This is the beauty of defined-risk spreads with a rules-based system. You set your exit before you even open the trade. The market does its thing. You live your life. 🤝 No screen watching. No emotional decisions. Just limit orders doing the work while I'm in the boardroom. 💼 Back this afternoon to see what hit — and let the engine find new setups before the weekend. 🏁 Lots of capital freed up this week. May is already looking interesting. 👀 NFA. Let the system work. #ThetaGang #OptionsTrading #BPS #PutSpreads #OptionsIncome

🗓️ APRIL 2026 — MONTHLY CLOSE 🟢 The Risk Engine ran all month. Here's what it printed: 📊 By the numbers: Closed trades: 48 Winners: 48 🟢 Losers: 0 🔴 Win rate: 100% 🔥 Win streak: 50 in a row (new personal best) 💰 P&L Breakdown: Month P&L: +$5,256 Account value: $11,766 Monthly return: +87.66% ⚙️ Trade Mix: BPS: 59x → +$4,480 Covered Calls: 12x → +$267 CSP: 5x → +$102 How? No magic. No luck. No YOLO plays. A rules-based Risk Engine doing what it was built to do — find high-probability setups, define the risk, let theta work, and close at 50%+ of max. 🎯 18 trading days. 18 green days. Every single session profitable. The calendar looked like a lawn. 🌿 The system did the heavy lifting. A little human guidance here and there — but mostly just trusting the process and not getting in the way. 🤝 April is closed. The books are locked. On to May. 📅 NFA. Just a Risk Engine and a guy who learned to let it run. #OptionsTrading #ThetaGang #PutSpreads #BPS #OptionsIncome #PassiveIncome

At maximum loss - yes they would technically cancel each other out. When it’s a clear loss on the last day I’d still rather just go ahead and close the spread completely. I have never had an issue closing them at max loss mid day. It eliminates assignment risk toward the end of the day and the hassle of exercising the opposite side of the trade to clean up the books. Many brokers will force them closed around 30 minutes before the market closes to eliminate the hassle on their side also.

@arandompatrick Cuando pones un spread y dejas expirar aunq vaya mal y hay pérdida máxima , no hay asignación no? Uña pata anula a la otra ?

✅ $TQQQ 60/58 Put Spread — CLOSED 🚀 📅 Opened: 4/29 @ $0.63 credit 📅 Closed: 4/30 @ $0.10 debit 💰 Profit: +$106 | 84% of max ⏱️ Held: 1 day 📅 Exp: 5/1 (would've expired tomorrow) Why close early with 1 day left? $0.10 left on the table vs. $53 of risk per contract overnight. That math isn't close. 🧮 84% of max in 24 hours means theta did its job AND price cooperated. The correct move is to shake hands with the market and walk away. Leaving the last 16% on the table = protecting $106 in realized gains from a potential morning gap or headline risk on expiration day. Clean execution. No drama. This is the way. 🎯 Running total for the week: 🟢 UNH: +$60 🟢 PEP: +$43 🟢 TQQQ: +$106 💰 Week P&L: +$209 and counting Memory book ( $STX / $MU / $SNDK) still live through 5/8. 🧠 NFA. Just selling premium and stacking wins. #OptionsTrading #PutSpreads #ThetaGang $TQQQ $QQQ

@Llavata1985 It’s $ASTS that has me most worried at ruining my streak!

@Llavata1985 Still have time on both. $MCD is slightly positive for now and I would not be shocked to see $META back at $630 by next week.

✅ $SPX 7050/7045 Put Spread — CLOSED 🗽 📅 Opened: 4/27 @ $0.95 credit 📅 Closed: 4/30 @ $0.10 debit 💰 Profit: +$170 | 89% of max ⏱️ Held: 3 days 🎯 Strikes: 7050 / 7045p · exp 5/1 89% of max with 1 day left on the clock. Same story as TQQQ earlier today — $0.10 of remaining credit is NOT worth overnight index risk on expiry day. 🚫 Lock it in. Move on. This is how you build an account: ✔️ Define your target (50%+) ✔️ Let theta work ✔️ Close when the market gives it to you ✔️ Recycle capital into the next setup No heroics. No greedy holds. Just disciplined execution. 🎯

✅ PEP Put Spread — CLOSED 🥤 📅 Opened: 4/22 @ $0.83 credit 📅 Closed: 4/30 @ $0.40 debit 💰 Profit: +$43 | ~52% of max ⏱️ Held: 8 days 🎯 Strikes: 150 / 152.5p · exp 5/15 Another quiet winner before the calendar flips. 📆 PEP did exactly what I wanted it to do — nothing dramatic. It chopped sideways, theta did the heavy lifting, and the spread bled value while I focused on other setups. The takeaway: Not every trade needs to be a home run. 52% of max in 8 days on a defensive consumer staple? I’ll take that all day. 🥤 The boring trades pay the bills. The exciting ones get the headlines. Build the account on the boring ones. 🧱 🚪 Out with 15 DTE still on the clock — no reason to squeeze the last nickel out of a dollar I already have. NFA. Just closing winners and recycling capital. #OptionsTrading #PutSpreads #ThetaGang $PEP

@SelfMadeMastery Did some $16/15 bull put spreads on $SOFI today. Expiring 5/8. Let’s see it reclaim $16 this week hopefully. 🙏

Who's adding to $HOOD or $SOFI today? 👀

🧠 Memory Trade Thesis Loaded the boat on memory/storage names this week. All 5/8 expiry. All bull put spreads. 📋 The Book: •1x $STX 610/605p — $1.88 credit (opened today) •1x $MU 500/495p — $2.10 credit (opened yesterday) •4x $SNDK 860/855p — $1.99 credit (opened 4/14) 💰 Total credit: $1,194 🛡️ Total max risk: $1,806 📅 DTE: 9 days The Thesis: Today’s CAPEX prints from the hyperscalers were loud: $META · $GOOGL · $AMZN · $MSFT — all leaning harder into AI infrastructure spend. 🏗️ That spend doesn’t happen without: •HBM (hello, $MU) •Enterprise SSDs ($SNDK) •Nearline HDDs for the cold tier ($STX) When the Big 4 tell you they’re writing checks, the memory/storage supply chain is the picks-and-shovels trade. ⛏️ Risk Note: This is concentrated. 6 contracts, one sector, one expiry. If memory rolls over on a macro headline, all three trade together. Position-sized accordingly — not betting the farm, but definitely betting the back forty. 🌾 If thesis plays out → close near max next week. If it doesn’t → max loss is defined and survivable. NFA. Just selling premium into a thesis I believe in. #OptionsTrading #PutSpreads #ThetaGang #Memory #Semis

Trade(s) Closed✅ 🚗TSLA double close on Bull Put Spreads Closed both TSLA spreads I opened Monday morning. Here's the breakdown: 🟢 3 × $TSLA 360/357.50 BPS (5/1) 📅 Opened Monday @ $0.75 | Closed @ $0.37 💰 Profit: +$114 | ~51% of max in 2 days 🟢 2 × $TSLA 350/347.50 BPS (5/8) 📅 Opened Monday @ $0.60 | Closed @ $0.40 💰 Profit: +$40 | ~33% of max in 2 days Combined TSLA profit: +$154 🟢 Why I closed both 🧠 The 5/1 spread at 51% with 4 days left is a textbook close — take the win, eliminate expiration-week pin risk. Easy decision. The 5/8 spread at 33% with 11 days left was more optional — I could have held for more theta. But TSLA has been consolidating, the premium wasn't burning fast, and I see new setups on the board that I'd rather be in. Capital recycled = opportunity created. That's the game. 🧘 Not advice — just sharing the trade. #options #thetagang #TSLA #bullputspread

@TheBubbaArmy So McVay wasn't mad about the Simpson pick - he was just mentally going through all the past texts and places he'd been in the past several years in his head and stressing about TMZ trying to get the next leg of this story ... 🤔

Dianna Russini rumors now pulling in Sean McVay and Nick Caserio… And fans have found her Spotify playlist collab with Mike Vrable and dissecting every song choice This story continues to escalate!

🏥 ✅ Closed — $UNH 335/330 Put Spread 📅 Opened: 4/27 @ $1.10 credit 📅 Closed: 4/28 @ $0.50 debit 💰 Profit: +$60 | ~55% of max 📆 Held: 1 day I called it a "slow burner" with 25 days of theta decay ahead. The tape laughed at that. 🤡 UNH ripped +2.97% on the JPMorgan price target boost ($389 → $420) + strong Q1 earnings. The spread was at 55% of max by noon — and I took it. The lesson: Don't fall in love with your timeline. The market gives you what it gives you when it gives it to you. If your "25-day hold" hits 55% of max on day 1 — you close. The capital recycled into the next setup before dinner. +$60 in 24 hours. On a $390 max-risk position. That's a 15.4% one-day return on capital at risk. Not bad for a "slow burner." 🧘 On to the next. NFA as usual. #options #thetagang #UNH #bullputspread

🥤 $PEP 152.50/150 Put Spread — day 6 update 📅 Opened 4/22 @ $0.83 credit 📅 Today: PEP at $157.42, up +$3.32 (+2.15%) 📊 Short strike: $152.50 — that's $4.92 of cushion vs. current price 📈 Spread value crushed — approaching 50% of max fast What's driving it 📰 PEP is up on a 10-year renewable energy deal signed today — repowered wind asset in Spain with Givaudan, Smurfit WestRock & Statkraft. Reducing ~32K metric tons of CO2 annually. Net-zero by 2050. Also — the Google Cloud AI partnership from last week is digesting. Gemini Enterprise Agent Platform across supply chain + go-to-market execution. What this means for the spread 🧠 $152.50 short strike was already comfortable at $153.79. At $157.42, deeply in the clear. Premium melted fast. Setting a bid to close ~$0.41-$0.42 today — roughly 50% of the $0.83 max credit. ~$41-42 profit on a 6-day hold. PEP is doing everything I wanted — just faster than expected. NFA as usual. 🧘 #options #thetagang #PEP #bullputspread

🏥 $UNH 335/330 Put Spread — "slow burner" update 📅 Opened yesterday @ $1.10 credit 📅 Today: UNH up +$10.52 (+2.97%) to $365.21 🚀 📊 Spread value now: ~$0.55 — almost at 50% max profit in ONE DAY The catalyst 📰 JPMorgan raised their UNH price target from $389 → $420 and maintained Overweight — citing strong Q1 earnings and increased confidence in the company's outlook. That's a $31 PT increase. The market agreed. So much for "slow burner." 😅 I called this a patience play with 25 days of theta decay ahead. Instead, the tape had other plans. UNH ripped nearly 3% on the JPM target boost and the spread is already at 50% of max. What I'm doing: Setting a bid to close around $0.50–$0.55 today. That's roughly $55-60 profit on a 1-day hold — +50% of the $110 max, no need to wait. The lesson 📚 I entered with a "let theta work" mindset. But when a post-ER name gets a fresh analyst boost and the spread hits 50% of max in a single session — you take the win. You don't fall in love with a trade and turn a 1-day winner into a 3-week hold because you called it a slow burner. The market gives you what it gives you. You take it. 🧘 Not advice — just sharing the trade. #options #thetagang #UNH #bullputspread

So much for a slow burner - this one is up almost 50% after the first day - setting a bid to close it out. We will see if it closes!

New Trade Opened ✅ 🏥 Adding a slow burner — $UNH 335/330 Put Spread (5/22) 📅 Opened @ $1.10 credit 💰 Max profit: $110 🛡️ Max risk: $390 📐 Return on risk: ~28% over 25 days 🎯 Target close: 50% = $0.55 📆 Expires: May 22 — 25 days The thesis 🧠 Not looking for a quick flip on this one. UNH already reported Q1 this month and held well above the 330 level. With the ER event behind us and 25 days of theta decay ahead, this is a patience play. $110 collected today. Let theta and time do the work through May. Close at 50% max ($55 profit) or let it expire worthless if UNH stays stable. Why I call it a "slow burner" 🔥 Longest DTE position on the board right now Already through the biggest uncertainty (earnings) Healthcare = sticky revenue, defensive sector 5-point width gives decent cushion above current price This is the opposite of the SPX and TSLA 4-day flips. This is putting premium on the board and letting the calendar work for you. Sometimes the best trade is the one you forget about. 🧘 Today's total new premium across all fills: ~$600+ ( $SPX · $TSLA · $UNH · $SOUN · $AMD · $NVDA · $OPEN ) Building May one position at a time. 🧱 Not advice — just sharing the trade. #options #thetagang #UNH #bullputspread #slowburner

@sarcastic_hedgi Added one more to this position this morning at 1.67. Looking for a solid recovery from today's messy open.

@arandompatrick nice timing on AMD -- already down 3.5% today so that 305/300 spread's feeling the heat before earnings even prints vol's gonna stay bid through 5/5 which helps but you're basically short gamma into a binary now

🌞 Monday open — two new spreads on the board - $AMD & $NVDA (next post) 🟢 2 × $AMD 305/300 Bull Put Spread (5/8) 📅 Opened @ $1.25 credit each 💰 Max profit: $250 total 🛡️ Max risk: $750 total (defined) 🎯 Target close: 50% = $0.62 ⚠️ ER WATCH: $AMD reports May 5 after the close — that’s 3 days before these expire. That’s the risk. IV will spike into the print and the post-ER move is a coin flip. I’m taking this one knowing that risk. Why? Because I have a management plan: •Close these before May 5 if they hit 50%+ max •If still open day-of, I’m closing no matter what — no spread is going through an earnings event with 3 DTE •The premium is rich because the market knows the same thing Two different names. One with an ER flag I need to manage carefully. One clean. Both fit the May build plan. Let’s get it. 🧘 Not advice — just sharing the trade. #options #thetagang #AMD #NVDA #bullputspread #earnings

🔌 New trade — $MU 500/495 Put Spread (5/8) 📅 Opened @ $2.10 credit 💰 Max profit: $210 🛡️ Max risk: $290 📐 Return on risk: ~72% over 10 days 🎯 Target close: 50% = $1.05 📆 Expires: May 8 — 10 days 📍 Breakeven: 497.90 The thesis 🧠 That $2.10 credit on a 5-point spread is serious premium. 42% of the width collected upfront with 10 days to go — that's the kind of R/R that makes you want to dig in. Why memory stocks right now 💾 Try to buy a Mac Mini right now. Any configuration. Go ahead, I'll wait. Backorder after backorder. The AI boom, the memory shortages, the compute demand — all of it flows upstream to memory manufacturers. $MU is the direct beneficiary. Every AI data center, every upgraded Mac, every server build — it all needs HBM and DRAM. And supply isn't catching up to demand fast enough. That's not a 10-day thesis — that's a months-long thesis. I just needed 10 days. 🧘 Today's premium continues to stack. Another strong Tuesday opening. Not advice — just sharing the trade. #options #thetagang #MU #bullputspread #semiconductor

🍔 New trade opened — $MCD 290/287.50 Put Spread (5/8) 📅 Opened @ $0.88 credit 💰 Max profit: $88 🛡️ Max risk: $162 📐 Return on risk: ~54% over 11 days 🎯 Target close: 50% = $0.44 📆 Expires: May 8 — 10 days The thesis 🧠 McDonald's is a defensive name in a defensive sector. Stable, predictable, and I'm comfortable with this spread even through the broader market noise. Also — "I've lovin it" 😂 Not advice — just sharing the trade. #options #thetagang #MCD #bullputspread