Opening (IRA): IWM September 15th 146 Short Put
... for a 1.46 credit.
Comments: Re-establishing a September rung after scratching out a higher strike trade yesterday, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
The shortest duration trades in which the <16 delta strike is paying around 1% in credit:
IWM: August (at the 154 strike, paying 1.58)
QQQ: August (at the 296 strike, paying 2.99)
SPY: September (at the 367 strike, paying 3.70).
Comments: Re-establishing a September rung after scratching out a higher strike trade yesterday, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
The shortest duration trades in which the <16 delta strike is paying around 1% in credit:
IWM: August (at the 154 strike, paying 1.58)
QQQ: August (at the 296 strike, paying 2.99)
SPY: September (at the 367 strike, paying 3.70).
Trade closed: target reached:
50% max hit today for .73. $73 profit.