OPENING (IRA): QQQ NOVEMBER 20TH 239 SHORT PUT
... for a 3.90/contract credit.
Notes: My weekly 2 x expected move/16 delta short put in the broad market exchange-traded fund with the highest 30-day, which is QQQ here at 33.6%. There isn't a weekly expiry available right around 45 days, so going with the monthly.
235.10 break even with a 1.66% ROC at max. Will run to approaching worthless and/or roll out "as is" for a credit or proceed to cover/sell call against if assigned.
Notes: My weekly 2 x expected move/16 delta short put in the broad market exchange-traded fund with the highest 30-day, which is QQQ here at 33.6%. There isn't a weekly expiry available right around 45 days, so going with the monthly.
235.10 break even with a 1.66% ROC at max. Will run to approaching worthless and/or roll out "as is" for a credit or proceed to cover/sell call against if assigned.
Trade active:
With the short put now valued at 1.32, doing a window dressing roll to lock in the realized profit of 2.58 ($258) by rolling to the December 18th (59 days) 217 for a .02 credit.
Trade active:
Rolling the December 217 up on this weakness to the 16 delta 244 for a 2.58 credit. Total credits collected of 6.48.
Trade closed manually:
Out here for .18. Total credits collected of 6.48 - .18 = 6.30 profit/contract.
