OPENING (IRA): ICLN FEBRUARY 19TH 24 SHORT PUT
... for a .56/contract credit.
Notes: A new addition to my liquid exchange-traded fund list ... . With 30-day at 53% and the at-the-money short straddle in the February cycle paying 15.6% in credit as a function of stock price, going Plain Jane short put at the 18 delta strike with a 23.44 break even. 2.39% ROC at max as a function of notional risk. Will manage on approaching worthless or take assignment, sell call against.
Notes: A new addition to my liquid exchange-traded fund list ... . With 30-day at 53% and the at-the-money short straddle in the February cycle paying 15.6% in credit as a function of stock price, going Plain Jane short put at the 18 delta strike with a 23.44 break even. 2.39% ROC at max as a function of notional risk. Will manage on approaching worthless or take assignment, sell call against.
Trade closed manually:
Taking profit where I can: closing for .15/contract. .41/$41 profit/contract; 1.75% ROC as a function of notional risk.