OPENING (IRA): MJ MARCH 19TH 16 SHORT PUT (LATE POST)
... for a .71/contract credit.
Notes: With 30-day at 75%, and expiry-specific at 73.9%, opened a 20 delta short put in the weed ETF using my phone app. 4.65% ROC at max as a function of notional risk. As usual, will take off on approaching worthless or -- if in the money -- look at rolling out for a credit or taking assignment of shares and selling call against (whichever pays more).
Notes: With 30-day at 75%, and expiry-specific at 73.9%, opened a 20 delta short put in the weed ETF using my phone app. 4.65% ROC at max as a function of notional risk. As usual, will take off on approaching worthless or -- if in the money -- look at rolling out for a credit or taking assignment of shares and selling call against (whichever pays more).
Trade closed manually:
Out for .14/contract here; .57 ($57) profit per contract. 80% max with 38 days to go. IV remains high here, with 30-day at 90.5%, but it's done a ripper off late Jan lows.