With 3 DTE in this post-Brexit troubled setup, I'm covering the put side for near worthless (for a .10/$10 debit).
I have proceeded to roll out the short call side "as is" to the September monthly expiry (for a 2.18 ($218)/contract debit), but decided to wait a bit to sell a short put side against for a credit that exceeds the cost of the roll to see if we get...
Here's my "short list" for covered call candidates for next week generated by looking at Barcharts.com high volatility stock options list and the Dough grid:
WLL buy shares at 7.66; sell Sept 16th 8 call; 7.10 debit; $90 max profit (12.7% ROC)
CC buy shares at 11.45; sell Sept 16th 12 call; 10.78 debit; $122 max profit (10.6% ROC)
LC buy shares at 5.40; sell Oct...
This is one of a trio of post-Brexit trades in RUT, NDX, and SPX that I put on post-Brexit and that moved, well, a little more than I'd like ... .
Today (with 2 DTE to go), I closed out the put side for a .15 debit, and then rolled the call side from 2115/2125 to the 2145/2160 for a .30 credit and then sold the Aug 12th 2100/2115 for a 1.50 credit (giving me the...
This was my only "Bremain" bet trade, and it's taking its sweet time coming off the highs ... .
The trade started out as a directional spread -- a short call vertical, that was soon breached post-Brexit. My recollection is that I proceeded to sell a short put vert against the call side (completing an iron condor) to protect the call side from further upmove. ...
Rolling toward current price on this iron condor, as well as on the RUT and NDX ones, too. Basically, I'm rolling to as close to the 85% probability out-of-the-money strike for the expiry ... . I don't want to get in crazy close if this is short-term, short squeeze price action.
Know Your Scratch Point: The original setup was put on for a $280 credit; I rolled...
Update on a upsloping trendline (blue) which acts as resistance
On the 5 hour chart, we should have generated a sell signal.
I still remain short via puyt spread 1x2s, as frost is no longer an issue. It appears the market is still digesting this from last week and should correct lower IMHO as physical supplies out of Brazil remain steady.
Warehouse stocks in...
Figured I'd balance the wings out width wise here, as well as capture some increase in value experienced by the long put (which gave a small strike price improvement assist to the short put), even though I promised myself I wasn't going to touch this bugger with only 9 DTE. Filled for a $75/contract credit ... .
Dissatisfied with the resulting net delta of the...
Seems like no frost in Brazil. It was a busy weeks last week and throughout the weekend with fears a frost could hit coffee areas. None has been confirmed and worst fears did not play out.
Once all of this is digested I expect some downside opportunities as the market goes back into trading technicals rather than emotions.
Quite oversold and we saw sell...
I'm looking at engaging a little bit of buying power here while I wait for volatility in the broader market to pick up without taking on a huge bunch of risk ... .
Bought 100 Shares WFT @ 5.78
Sold June 6 Put
Total Package: $518
I'll put in a GTC order to cover for $6.00, since that is what I would receive if called away at expiry, realizing an $82 profit/100...
This is part of a core GLD position I'm working ... . Originally put on for a $82/contract credit, I covered it today for a $20 debit, yielding a net profit of $62/contract.
I considered merely rolling the spread up to approximately the 75% probability out-of-the-money strike (for the short put), but I decided to close it out instead, lock in the profit, and...
I don't have an IWM setup on at the moment and with the highest implied volatility among the four index exchange traded funds (SPY, IWM, QQQ, and DIA), this is the place to sell broad market premium ... . Moreover, with similar percentage out-of-the-money strikes, I'm getting almost exactly as much bang for my buck as the June 17th SPY iron condor (see Post...
While I wait for my "gaggle" of long VIX/VIX derivative setups to play out, I'm going to play a few of these smaller earnings announcements, so that I can keep powder dry for the juicier underlyings (should their implied volatility ever ramp up to my standards).
Metrics:
Probability of Profit: 77%
Max Profit: $79/contract
Buying Power Effect/Underfined:...
I'm adding on a touch of long delta here so that my core SPY position doesn't stray too far to the negative side. The first thing I looked at, however, was whether I could peel off some short call spread action to balance instead, but most of the spreads have not yet decayed enough to make that worthwhile ... .
Filled for $41/contract ... .
Next week brings in a bevvy of earnings plays, but not all are worth of a premium selling, implied volatility contraction play.
These are the best among the offerings currently to play either via short strangle or iron condor, although others could naturally come to the forefront if implied volatility increases dramatically immediately before earnings.
NFLX:...
With the short put nearing worthless here, I'm closing it out for a .05 debit ($5). I received a .68 credit for the 54 short put ($68), so I realized a profit of .68 - .05 = .63 ($63)/contract on that side.
Unfortunately, price is getting uncomfortably close to my short call side ... .
Another thing I'm going to do while waiting for volatility to return in the broader markets such that it makes sense to set up plays 45 days out is go short duration. While I'm not going to put this particular trade on because I have a short duration RUT/IUX iron condor that I rolled out to next week standing in as this week's short duration play (see Post...
