Opening (IRA): IWM December 23rd 156 Short Put
... for a 1.67 credit.
Comments: Targeting the <16 strike in the expiry nearest 45 days paying around 1% of the strike price in credit.
This is more about not letting my IWM position get too short delta than about putting on an "ideal" premium selling trade. I still have an IWM short delta hedge on that is marking at around -60 delta (See Post Below) and had only one IWM short put rung on at the December 16th 164 (+23 delta at the moment), so the position was leaning more net delta short than I would like. This long delta additive trade will make my IWM position "net delta flatter."
Comments: Targeting the <16 strike in the expiry nearest 45 days paying around 1% of the strike price in credit.
This is more about not letting my IWM position get too short delta than about putting on an "ideal" premium selling trade. I still have an IWM short delta hedge on that is marking at around -60 delta (See Post Below) and had only one IWM short put rung on at the December 16th 164 (+23 delta at the moment), so the position was leaning more net delta short than I would like. This long delta additive trade will make my IWM position "net delta flatter."
Trade closed: target reached:
What a move ... . Out today for 50% max. .84 ($84) profit.
