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NaughtyPines
May 26, 2020 9:10 PM

OPENING: AMD JULY 17TH 44 SHORT PUT Long

Advanced Micro Devices, Inc.NASDAQ

Description

... for a 1.13/contract credit.

Notes: Out of my monied covered call in the IRA for "decent" earlier today; back into it in the margin for a "classic" wheel trade in that ~45 days 'til expiry wheelhouse. Perennially decent implied (currently at 54.5%), good options liquidity, and affordable share price make this underlying ideal for short put/acquire/cover trading.

Trade closed manually

Closing this out for a .41 debit/contract with 31 days to go; .72 ($72) profit per contract; 64% max. 30-day IV still decent here at 58%, rank at 24, July ATM short straddle paying 12.01% of the stock price.
Comments
RedKTrader
i like it ! :)
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