NaughtyPines

Opening: SMH May 20th 215/280 Short Strangle

NASDAQ:SMH   VanEck Semiconductor ETF
... for a 5.30 credit.

Comments: Selling some nondirectional premium in semiconductors (implied volatility rank 60/30-day 41.2%) in the May monthly (42 days 'til expiry). 5.30 on buying power effect of 24.94 (on margin); 21.3% ROC at max as a function of buying power effect; 10.6% at 50% max.
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