OPENING (IRA): KRE NOVEMBER/DECEMBER 31/30 SHORT PUT LADDER

... for a 1.49 credit.

Notes: With its current yield of 3.66%, looking to pick up some shares lower or just keep the premium. Background implied at 44.9% with an ROC of 2.50% at max as a function of notional risk, 9.71% annualized.

Trade active:

Completing a three-rung by selling the 28 out in January for an .86 credit with 30-day still above 35% at 44.7%. Total credits collected of 2.35.

Comment:

Out of the November rung for .13; scratch on the remaining December 30P/January 28P at 2.35 - .13 or 2.22.

Trade active:

Out of the December 30P for .20 today, with 57 days to go (i.e., I'm not waiting around another 57 days for a mere $20). Scratch at 2.02. 30-day is actually higher than when I initiated the position (now at 46.2% vs. 44.9%), but it's now shot up from a mid-September low of 33.48 to 42.25, which is its mid-August high. Will consider adding if the volatility sticks in there, and we get some weakness.

Trade closed manually:

Looking to take profit where I can: Out of the January 28 for .17 here. Total credits received of 2.02 - .17 or 1.85; $185/profit per contract.