Opened: XLK February 18th 158/185 Short Strangle
... for a 2.33 credit.
Comments: Selling premium in XLK, which is closely correlated to both the broad market and QQQ, so it's kind of QQQ "lite" (a QQQ 16-delta short strangle would tie up about twice as much buying power). 2.33 credit on buying power effect of 23.28 (on margin). 10.0% ROC at max; 5.0% ROC at 50% max.
Comments: Selling premium in XLK, which is closely correlated to both the broad market and QQQ, so it's kind of QQQ "lite" (a QQQ 16-delta short strangle would tie up about twice as much buying power). 2.33 credit on buying power effect of 23.28 (on margin). 10.0% ROC at max; 5.0% ROC at 50% max.
Comment:
Rolling the 185 down to the 169 for a .54 credit. Total credits collected of 2.87.
Trade active:
Rolling the 169 down to the 160 for a for a 1.60 credit. Total credits collected of 4.47.