Opening (IRA): XBI October 20th 76 Short Put
Comments: Looking to sell the around the 30 delta here in the October monthly, which is more aggressive than I usually go, but am fine with taking assignment, selling call against if it comes to that.
Currently, the strike is bid 1.45/ask 1.65 with a 1.55 mid, so will look to get a fill "in that neighborhood."
Just looking for some "engagement" in this broad market, low IV environment with my standard go-to's (IWM, QQQ, SPY) at 17.8%, 18.8%, and (ugh) 13.6%, respectively for their 30-days.
Currently, the strike is bid 1.45/ask 1.65 with a 1.55 mid, so will look to get a fill "in that neighborhood."
Just looking for some "engagement" in this broad market, low IV environment with my standard go-to's (IWM, QQQ, SPY) at 17.8%, 18.8%, and (ugh) 13.6%, respectively for their 30-days.
Trade active:
Popped quite a bit ... . Filled for 1.17.
Trade closed: target reached:
Disposed of via early assignment, resulting in a realized gain of 1.17 ($117). This, however, results in an unrealized loss that is the difference between the strike price (76.00) and the current price of 67.07 or 8.93. Sold call against at the 77 strike out in Jan of '25 for 7.05. Will take up the covered call (stock + short call) in a separate post.
