Not much is coming up on my screener this week for sexy premium selling beyond NFLX (66/60) (which has earnings on Thursday after market close) and petro (i.e., USO/OIH/XOP, with XOP being my usual go-to).
Pictured here is a March 15th 275/280/410/415 iron condor that pays a hair greater than the width of the wings (1.68). If you're not keen on going that far out in time for a volatility crush play, the Feb 15th 285/290/385/390 is paying 1.82. I'll look to price something out during regular New York session hours. This is an underlying in which you'll want to do a smidge of price discovery, since markets are a little wide, and it generally pays to go for a fill slightly off the mid.
Having gotten out of some bullish assumption XOP last week, I'll look to do something in that vein again this week, although I'm leaning toward something more nondirectional delta wise than previous, given the fact that it has come up quite a bit off its 52-week lows, but is still off mid range by some measure.
On the broad market instrument front, VIX has crushed in substantially since it's late December highs, which makes for broad market premium selling that isn't a juicy as it was a mere two to three weeks ago, but somewhat better than it was for the vast majority of 2018, when it trundled along at sub-15 levels between May and September. QQQ (42/26) remains the major with the highest rank, as well as background implied.
Pictured here is a March 15th 275/280/410/415 iron condor that pays a hair greater than the width of the wings (1.68). If you're not keen on going that far out in time for a volatility crush play, the Feb 15th 285/290/385/390 is paying 1.82. I'll look to price something out during regular New York session hours. This is an underlying in which you'll want to do a smidge of price discovery, since markets are a little wide, and it generally pays to go for a fill slightly off the mid.
Having gotten out of some bullish assumption XOP last week, I'll look to do something in that vein again this week, although I'm leaning toward something more nondirectional delta wise than previous, given the fact that it has come up quite a bit off its 52-week lows, but is still off mid range by some measure.
On the broad market instrument front, VIX has crushed in substantially since it's late December highs, which makes for broad market premium selling that isn't a juicy as it was a mere two to three weeks ago, but somewhat better than it was for the vast majority of 2018, when it trundled along at sub-15 levels between May and September. QQQ (42/26) remains the major with the highest rank, as well as background implied.
Comment:
I'm sticking a March 15th 280/285/410/415 out there for a 1.67 (one-third the width of the strikes), which is the least I'm willing to enter the trade for. Markets are somewhat unpleasantly wide ... .