We had a resting GTC order filled to take us out of a position for a scratch in the Paid-to-Play portfolio today:

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

We’re making an adjustment to an existing position in our Paid-to-Play portfolio today.

For this week's trade, we're buying a $CVX October 180/200 Bull Call Spread for approximately $6.50 here. This means we're long the 180 calls and short an equal amount of the 200 calls for a net debit.

Get the full details, risk management procedures and targets for this trade here:

Back on February 2nd, we initiated a long-term bullish bet in Chevron $CVX January 2024 150-strike calls. You can read all about our thinking at the time here. In short, we were of the belief that a big breakout in the energy sector was appearing likely.

As you can see from this updated chart, our bet proved to be prescient. We've already taken back our original risk capital in this trade when we sold half of our position on March 2 at double what we originally paid. That has given us the super power to continue holding the remaining half position until now, achieving more gains.

We're making an adjustment to an existing position in our Paid-to-Play portfolio today:

The next new trade in our Paid-to-Play portfolio is:

If you joined JC and the guys on our live twitter spaces session today, towards the end you heard me venting my current frustration in finding good opportunities to make directional bets in either direction right now. It's tough sticking our neck out here.

But of course, as options traders, we are not limited to just directional bets. We can attempt to pull profits from sideways markets as well. And when volatility is still elevated in most areas, there are plenty of places to look to sell premium. And the best place to do that is in an instrument that we feel is likely to continue trading in a sideways range for a period of time.

Today's idea is one such ETF that has been mired in a nice juicy range for nearly a year now.

The next new trade in our Paid-to-Play portfolio is:

From a directional standpoint, there currently aren't any stock ideas on the board that are getting me excited to get involved in either direction. Bear markets can do that.

However, from an options premium selling point of view, there are some good opportunities out there. But best to stick with instruments that are showing signs of at least some near-term support and resistance.

One such instrument is in the interest rates space.

The next new trade in our Paid-to-Play portfolio is:

The next new trade in our Paid-to-Play portfolio is: