premiumselling

Benji Benji PRO SPY, D, 9 days ago
SPY: SPY Broken Wing Butterfly
81 0 4
SPY, D
SPY Broken Wing Butterfly

Getting my # of occurrences in a small account. SPY has been on a tear lately and want to capture a bit of the upside, without any risk to the downside. Trade Setup: -1 SPY Mar 17 236/237/237/239 Call Butterfly @ 0.19 DTE: 29 Max Win: $119 Max Loss: $81 Breakeven: $238.19 Trade Management: Best case scenario, SPY trades around 237 near March expiration for ...

Benji Benji PRO XRT, D, 10 days ago
XRT: XRT Iron Fly
20 0 5
XRT, D
XRT Iron Fly

Still looking for any IV in the market - XRT had a 35 IVP, so I thought I would put something small on. Focused on minimal BP exposure during these tough times in IV, but I have to keep a decent # of occurrences up regardless. Trade Setup: - 1 XRT Mar 17 42/44/44/46 Ironfly @ $1.34 DTE: 30 Max Win: $134 Max Loss: $66 Breakevens: 42.66 and 45.34 Trade ...

NaughtyPines NaughtyPines FXE, D, 2 months ago
FXE: OPENING: FXE JAN 27TH 97/101/101/105 IRON FLY
39 0 8
FXE, D
OPENING: FXE JAN 27TH 97/101/101/105 IRON FLY

... for a 2.25 credit. Although general background IV in FXE isn't high here (it rarely is, comparatively speaking), it's high relative to where it's been in the last six months. Metrics: Max Profit: $225 Max Loss/Buying Power Effect: $175 BE's at 98.75/103.25 Notes: Will look to manage at 25% max profit. Just trying to keep the theta coming in here with what ...

NaughtyPines NaughtyPines EWZ, D, 2 months ago
EWZ: OPENING: EWZ JAN 13TH 29/32.5/32.5/36 IRON FLY
14 0 3
EWZ, D
OPENING: EWZ JAN 13TH 29/32.5/32.5/36 IRON FLY

Go where the volatility takes you, I say. Layering on a bit more EWZ fly here, this time in the Jan 13th expiry. Metrics: Probability of Profit: 42% Max Profit: $214/contract Max Loss: $136/contract Break Evens: 30.36/34.64 Notes: You know the drill ... . Will look to take this off at 25% max profit.

NaughtyPines NaughtyPines XBI, D, 2 months ago
XBI: OPENING: XBI JAN 20TH 51.67/61/61/70 IRON FLY
23 1 4
XBI, D
OPENING: XBI JAN 20TH 51.67/61/61/70 IRON FLY

There isn't much premium out there to be sold in index or sector exchange traded funds, but this is one of them ... . Metrics: Probability of Profit: 46% Max Profit: $518/contract Max Loss: $415/contract Break Evens: 55.82/66.18 Notes: I'll shoot to take profit at 25% of max ... .

NaughtyPines NaughtyPines UNG, D, 2 months ago
UNG: WHAT I'M LOOKING AT THIS COMING WEEK: FOMC, FOMC, FOMC
53 0 4
UNG, D
WHAT I'M LOOKING AT THIS COMING WEEK: FOMC, FOMC, FOMC

Even though I don't anticipate doing much trading this coming week running into FOMC, old habits die hard, so, as usual, I'm running through underlyings for possible premium selling setups. With exchange traded funds, I'm looking for a rank >70 and general implied volatility >35; with individual stocks -- rank >70, implied volatility >50%. Top Implied Volatility ...

NaughtyPines NaughtyPines EWZ, D, 2 months ago
EWZ: OPENING: EWZ DEC 16TH 30.5/33.5/33.5/37 IRON FLY
18 1 4
EWZ, D
OPENING: EWZ DEC 16TH 30.5/33.5/33.5/37 IRON FLY

Going short duration here because I can't find liquidity in the weeklies for the setup and don't really want to go out to Jan. Metrics: Probability of Profit: 45% Max Profit: $187/contract Max Loss: $163/contract Break Evens: 31.63/35.37 Notes: As with a short straddle, I'll look to manage this at 25% of max profit.

AndreasMunz AndreasMunz USOIL, D, 3 months ago
USOIL: Hitting suppoort around 43, sideways & up
60 1 2
USOIL, D
Hitting suppoort around 43, sideways & up

Crude is hitting some support as it come close to the (blue) up-sloping trendline at around 43. Additionally the 200 day MA is right around that area. We are oversold in terms of Bollinger, RSI and Stochastik, with the Stochastik generating a buy signal Should the market break, targets on the downside at 39, 35 and contract low at 26ish.... Option idea: IMHO ...

NaughtyPines NaughtyPines VIX, D, 3 months ago
VIX: PRE-ELECTION: SELL PREMIUM SMALL
44 0 2
VIX, D
PRE-ELECTION: SELL PREMIUM SMALL

VIX continues to trade higher relative to the futures back months, which tells me to "continue to sell premium here." That being said, I don't want to go all crazy throwing on a bunch of 1 standard deviation short strangles/iron condors or iron flies in the broad market instruments here since we have that little binary event coming up on Tuesday which -- in all ...

kitkan87 kitkan87 QQQ, D, 4 months ago
QQQ: QQQ Short Strangle 28 OCT
32 0 3
QQQ, D
QQQ Short Strangle 28 OCT

I closed my NOV strangle and reopened my QQQ strangle in DEC 1 strike wider than before. My opinion is it will stay inside my strikes allowing theta decay.

NaughtyPines NaughtyPines XOP, D, 5 months ago
XOP: TRADE IDEA: XOP OCT 21ST 30/35/35/40 IRON FLY
70 7 6
XOP, D
TRADE IDEA: XOP OCT 21ST 30/35/35/40 IRON FLY

Mostly hand-sitting here, but figured I'd take advantage of the increased volatility in the petro sector by selling a bit of premium in XOP, since its IV has popped here. Metrics: Probability of Profit: 52% Max Profit: 2.46 ($256)/contract Max Loss: 2.54 ($254)/contract Break Evens: 37.46/32.54 Notes: I'll look to take this off at 25% max profit ... .

caputo.philip caputo.philip AERI, D, 5 months ago
AERI: ***PREMIUM INCOME***
35 1 1
AERI, D
***PREMIUM INCOME***

Great premium income opportunity here! Details are on chart.

NaughtyPines NaughtyPines NVAX, D, 5 months ago
NVAX: NVAX TRADE UPDATE
116 6 1
NVAX, D
NVAX TRADE UPDATE

I figured I'd clean up this setup a little bit on the chart to show what's going on with this trade a little more clearly, since we're running into opex, and I'll have to do something with it here shortly. I also for mapping out what I'm going to do if price does certain things relative to my cost basis and original stock purchase price. The trade originally ...

NaughtyPines NaughtyPines IWM, D, 5 months ago
IWM: TRADE IDEA: IWM OCT 21ST 112/116/126/130 IRON CONDOR
15 0 0
IWM, D
TRADE IDEA: IWM OCT 21ST 112/116/126/130 IRON CONDOR

With VIX finally breaking 15 here, I need to strike while the iron is hot ... . The instrument of choice -- IWM, the broad index exchange-traded fund (as compared to SPY, DIA, QQQ) with the highest implied volatility currently ... . Metrics: Probability of Profit: 52% Max Profit: $127/contract Max Loss/Buying Power Effect: $273/contract Break Evens: ...

NaughtyPines NaughtyPines DDD, 240, 5 months ago
DDD: TRADE IDEA: DDD OCT 21ST 14 NAKED SHORT PUT
28 0 0
DDD, 240
TRADE IDEA: DDD OCT 21ST 14 NAKED SHORT PUT

Looking to either (a) keep the premium; (b) get put the stock cheaper, after which I'll proceed to sell calls against ... . Metrics: Probability of Profit: 75% P50: 84% Max Profit: $59/contract Break Even: 13.41

NaughtyPines NaughtyPines VIX, D, 5 months ago
VIX: WITH VIX SUB-15, PREEM SELLING OPPS ARE OUSTIDE BROAD INDICES
41 0 2
VIX, D
WITH VIX SUB-15, PREEM SELLING OPPS ARE OUSTIDE BROAD INDICES

As I've posted several times before, my preference generally is to (1) sell premium in broad-based index instruments (e.g., SPY, IWM, QQQ, SPX, RUT) if VIX > 15; and (2) if VIX < 15, look for premium selling opportunities in non-index exchange traded funds with implied volatility of >35% and/or individual underlyings with implied volatility of >50% and where the ...

NaughtyPines NaughtyPines EWZ, D, 6 months ago
EWZ: TRADE IDEA (PREMIUM SELLING): EWZ OCT 21ST 29.5 SHORT PUT
32 0 3
EWZ, D
TRADE IDEA (PREMIUM SELLING): EWZ OCT 21ST 29.5 SHORT PUT

Here, I'm just looking to sell a little premium in the highest implied volatility, broad market underlying there is out there at the moment -- the Brazil exchange-traded fund, EWZ. The Olympics, after all, are over, and no doubt body parts will be washing up again soon on Copacabana beach, PBR will be undergoing yet another corruption/fraud/you-name-it scandal, ...

NaughtyPines NaughtyPines RIGL, D, 6 months ago
RIGL: HIGH IMPLIED VOLATILITY OPTIONS (8/28)
217 0 2
RIGL, D
HIGH IMPLIED VOLATILITY OPTIONS (8/28)

One of the first things I do when searching for either covered calls to do or just general premium selling plays is to look for high implied volatility underlyings with relatively decent expirations, strike widths, and fairly tight spreads (i.e., having weeklies is best with $1 wide strike widths and a bid/ask that is no more than .15 wide from top to bottom is ...

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