Been meaning to try one of these . .
Debit 2.46 ($246.00)
IV 10 IVR 12%
Break-Even / Scratch 266.60 and 253.20 (13.40 profit range)
SPY spot 259.97 Will set this to close at 10% -$25/contract (this is one)
- If SPY sits as still as it has today will let it go to more profit Shorts are 23DTE
and at that time with no move or increase it would net $130 but will cover
or adjust within 9-10 days. Even if it (ideally) sits still daily p/l will improve with
closing at a lower risk time and redeploying the capitol.
Then on Dec. 1 rolled the short put from dec29 to jan12 for a .37 credit and moving the break-even to .15. The pull back of Dec. 1 worked in favor here as well as creating good volatility opportunities elsewhere.