OPENING (IRA): SPY SEPTEMBER 18TH 297 SHORT PUT
... for a 3.05/contract credit.
Notes: Mechanical selling of SPY short puts in the expiry nearest 45 days until expiry ... at least while expiry-specific implied is above 20; here, it's 26.5%. Will run until expiry where it will expire worthless and/or I'll be assigned shares, at which point I'll sell calls against at the break even strike, which here is 293.95.
Notes: Mechanical selling of SPY short puts in the expiry nearest 45 days until expiry ... at least while expiry-specific implied is above 20; here, it's 26.5%. Will run until expiry where it will expire worthless and/or I'll be assigned shares, at which point I'll sell calls against at the break even strike, which here is 293.95.
Trade closed manually:
Out for .40/contract with 17 days to go; in for 3.05, out for .40, 2.65 ($265) profit per contract; 87% max.