UPDATE: UAL (IRA) SEPTEMBER 24/30 COVERED STRANGLE ...

... with a cost basis of 55.80.

Notes: As with my CCL trade, updating this setup so that it appears farther up in the queue. A continuation of a monied covered call play. (See Post Below).

Trade active:

Rolling the September 18th 24/30 covered strangle to the October 16th 25/32 for a .44 credit and selling the December 18th 19 put for .80. Cost basis of 55.80 - .44 - .80 = 54.56.

Trade active:

Rolling the 24 short put up to the 30 for a .47 credit; cost basis of 54.09. Now an October 16th 30 covered straddle.

Trade active:

Sold the December 18th 27 short put for 1.60; cost basis at 52.49.

Trade active:

Sold the November 20th 25 short put for .98 and a December 18th 24 for 1.22; cost basis of 52.49 - .98 - 1.22 = 50.29. Resulting setup: October 16th 30P/November 20th 25P/December 18th 24P/December 18th 27P/October 16th 30C. Will look to roll the 30C up and out running into opex. Still has about 1.00 of extrinsic left in it.

Trade active:

Sold the Jan 23P for 1.33 on this weakness; cost basis at 48.96. IV is still high here, probably due to earnings in 21: 98.8% for the 30-day; 83.0% for Jan. This is my only single name in the IRA, so working it harder than I would ordinarily.

Trade active:

Closing the October 16th 30 short put for .19 and rolling the October 16th 30 short call out to the December 18th 33 for .41. Cost basis at 48.96 + .19 - .41 = 48.74. Resulting setup: Stock + November 20th 25P/December 18th 27P/January 15th 23P/December 18th 33C.

Trade active:

Selling some March 24P for 1.62. A little bit longer out in time than I'd like, but the sooner I get cost basis within the range of current price, the happier I'll be. Cost basis at 47.12.

Trade active:

Out of the November 25's for .21 here; cost basis at 47.33. Remaining setup: December 18th 27P/December 18th 33C/January 15th 23P/March 19th 24P.

Comment:

(a) Rolling the December 18th 33C all the way out to the January '22 47 for .60; cost basis at 46.73; and (b) Rolling up. the December 27P to the 32 P for .50; cost basis at 46.23. Resulting setup: December 18th 32P/January 15th 23P/March 19th 24P/January '22 47C.

Trade active:

Out of the January 23 for .09, leaving me with the December 18th 32P/March 29th 24P/January '22 47C. Cost basis of 46.32.

Trade active:

Out of the December 32P for .11 today. Cost basis of 46.43.

Trade active:

Rolling the March 24P (worth only .24 here) to the June 32 for a 1.66 credit. Cost basis of 44.66.

Trade active:

Selling some February 19th 35 here for 1.00. Cost basis of 43.66.