NaughtyPines

Opening (IRA): SPY September 20th 445 Short Put

Long
BATS:SPY   SPDR S&P 500 ETF TRUST
... for a 4.64 credit.

Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.

Was starting to get somewhat worried that we would never have decent IV again. This ain't great, but I'll take it ... . Will generally look to take profit at 50% max.
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