Opening (IRA): IWM Feb/March 156/150 Short Put Ladder
Comments: Added rungs in IWM on weakness, targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit.
I'm doing things a little differently than last year, where I basically sold the 45 DTE weeklies (assuming they were paying around 1% of the strike price in credit), but constantly had a lot of idle buying power, which is not the "maximal deployment" I was really shooting for, so am fiddling with doing things this way instead. Doing only two rungs here, since the <16 delta strike in January isn't paying 1%, and there isn't an April yet.
February 17th 156 Short Put: 1.66 credit
March 17th 150 Short Put: 1.77 credit
I'm doing things a little differently than last year, where I basically sold the 45 DTE weeklies (assuming they were paying around 1% of the strike price in credit), but constantly had a lot of idle buying power, which is not the "maximal deployment" I was really shooting for, so am fiddling with doing things this way instead. Doing only two rungs here, since the <16 delta strike in January isn't paying 1%, and there isn't an April yet.
February 17th 156 Short Put: 1.66 credit
March 17th 150 Short Put: 1.77 credit
Trade closed manually:
Closed the February 17th 156 here for an .83 debit. .83 ($83) profit.
Trade closed manually:
Closed the March 17th 150 for .89; 1.77 - .89 = .88 ($88) profit.