OPENING (IRA): SPY FEBRUARY 19TH 324 SHORT PUT
... for a 3.30 credit.
Notes: Here, starting to build out a medium to longer-term laddered short put setup in SPY in the IRA, targeting the strike paying at least 1% in credit of the strike price. I'll look to roll these up intraexpiry at 50% max with >45 days until expiry and am fine with taking assignment and then selling call against. Cost basis here is 324 - 3.30 or 320.70.
For smaller accounts, consider doing this in XLK (currently 129.51) or EFA (currently 71.45).
Notes: Here, starting to build out a medium to longer-term laddered short put setup in SPY in the IRA, targeting the strike paying at least 1% in credit of the strike price. I'll look to roll these up intraexpiry at 50% max with >45 days until expiry and am fine with taking assignment and then selling call against. Cost basis here is 324 - 3.30 or 320.70.
For smaller accounts, consider doing this in XLK (currently 129.51) or EFA (currently 71.45).
Trade active:
With > 45 DTE, rolling the 324 up to lock in 1.20 or so of realized gain to the February 19th 338 (16 delta) for a 1.12 credit. Total credits collected of 4.42.
Trade closed manually:
And ... closed today for a .15 debit. 4.27 ($427 profit), 1.28% ROC as a function of notional risk.
