... for a 2.02 credit.
Comments: Straightening up my longer-dated SPY setup, where I'm basically emulating dollar cost averaging into the broad market without actually taking a position in stock.
With the February 18th 416 at greater than 50% max, rolling it out to May to the strike paying at least 1% of the strike price in credit, after which I'll roll it up intraexpiry or out for duration at 50% max to the strike paying at least 1% in credit, assuming that strike is <16 delta. I now have March, April, and May rungs on at will continue to either roll or add at intervals with the preference being to add on weakness and higher volatility (>20 VIX/>20 30-day implied).
I've rolled this a bunch of times, collecting a total of 21.89 (See Post Below) plus the credit received here of 2.02 for a total of 23.91 relative to the 3.80 or so the May 365 is currently paying, so have realized gains of 23.91 - 3.80 = 20.11 ($2011) so far.
Comments: Straightening up my longer-dated SPY setup, where I'm basically emulating dollar cost averaging into the broad market without actually taking a position in stock.
With the February 18th 416 at greater than 50% max, rolling it out to May to the strike paying at least 1% of the strike price in credit, after which I'll roll it up intraexpiry or out for duration at 50% max to the strike paying at least 1% in credit, assuming that strike is <16 delta. I now have March, April, and May rungs on at will continue to either roll or add at intervals with the preference being to add on weakness and higher volatility (>20 VIX/>20 30-day implied).
I've rolled this a bunch of times, collecting a total of 21.89 (See Post Below) plus the credit received here of 2.02 for a total of 23.91 relative to the 3.80 or so the May 365 is currently paying, so have realized gains of 23.91 - 3.80 = 20.11 ($2011) so far.
