... for a 3.00 credit.
Comments: Adding in some QQQ in the March cycle, targeting the strike paying at least 1% of the strike in credit to emulate dollar cost averaging into the broad market. Will generally look to take profit or roll at 50% max.
... for a 1.83 credit.
Comments: Here, I'm basically treating the deep ITM 103.22 short put as stock with the 81.22 short call making that aspect of the setup -- the 103.22P/81.22C -- functionally a March 18th 81.22 covered call. I don't want to widen the inverted strangle further by rolling down the short call, since that would be the functional equivalent of...
... for a 3.95 credit.
Comments: Part of a longer-dated strategy to emulate dollar cost averaging into the market without (ideally) taking on stock. Selling the strike paying at least 1% of the strike price in credit in the shortest duration monthly where the strike is 16 delta or less.
... 81.22C/103.22P for a 1.25 credit.
Comments: Rolling this out a touch early due to lack of extrinsic in the short put, which ostensibly increases assignment risk. I improved the short put by a strike, but kept the inversion the same -- a 22 wide for which I've collected 19.50 (See Post Below) plus 1.25 or 20.75, with my resulting cost basis in any stock I...
... for a 2.50 credit.
Comments: Sold premium right at the close in the expiry nearest 45 days to emulate dollar cost averaging into small caps.
Holistically, I've been using IWM for shorter duration trades (~45 days until expiry) and SPY for longer duration ones (since it doesn't pay as well as a function of buying power effect), and then coupling that with...
I haven't done one of these in quite some time, but thought I'd do one over this long holiday weekend.
I looked at a number of these for next week (there are quite a few) and have culled things down to the most liquid options underlyings, ideally with implied volatility rank >70% and 30-day greater than 50%. Only NFLX really fits that bill, even...
... for an .82 debit.
Comments: Opened this for a 1.48 credit (See Post Below). Closing it out here manually for around 45% of max. The implied has come in quite a bit; it was 76.1% when I put it on and has now contracted to 68.5% -- at the low end of its 52-week range. Will look to re-up if implied comes up off its lows.
... for a 3.27 credit.
Comments: Here, just adding in a little IWM in the weeklies around 45 days until expiry while I wait for the March monthly to shorten in duration to do other stuff.
3.27 on buying power effect of 26.15; 12.5% ROC as a function of buying power effect (on margin); 6.3% ROC at 50% max.
... for a 7.11 credit.
Comments: High rank/implied at 53/53. Earnings are in 47 days, so I'll be looking to take this off well short of the announcement. 7.11 on buying power effect of 27.24 (on margin); 26.1% ROC at max; 13.1% at 50% max. As usual, I will look to take profit at 50% max; manage sides on approaching worthless/side test.
... for a 2.53 credit.
Comments: High 30-day implied at 45.3%. 2.53 credit on buying power effect of 10.55 (on margin). 24.0% ROC at max; 12.0% ROC at 50% max. Will look to take profit at 50% max; manage sides on approaching worthless/side test.
... for a 1.48 credit.
Comments: Selling premium in the bitcoin futures exchange-traded fund with same delta'd strikes on both sides. High 30-day implied at 76.1%. 1.48 on buying power effect of 22.20; 6.7 ROC %-age at max; 3.3% at 50% max. You know the drill: look to take profit at 50% max; manage sides on approaching worthless/side test.
... for a 1.64 credit.
Comments: Rolled the 132 down to what was the 25 delta strike on side test, after which the underlying promptly bounced back to 103 and change. I originally collected 2.69 (See Post Below) with a 50% max take profit at 1.34, so am revising my take profit to the original take profit of 1.34 plus what I received for this roll -- 1.64 (i.e., 2.98).
... for a 3.57 credit.
Comments: I'm pretty much in everything at the top of the exchange-traded fund board and wanted to deploy a little more buying power before the February monthly shortens too much in duration, so selling premium in the broad market exchange-traded fund with the highest background implied. 3.57 on buying power effect of 28.05 (on margin);...
... for a 2.58 credit.
Comments; Adding to my QQQ "lite" position here. Will look to take profit at 50% max, manage sides on approaching worthless/side test.
I can also conceivably mix and match sides to take profit and reduce risk, since I've not got four legs on (151P/158P/180C/185C) or take profit on the entire four leg setup at 50% max.
... 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.
... for a .56 debit.
Comments: Filled this for a 1.12 credit (See Post Below). Out today via good until cancelled order to take profit at 50% max with 29 days to go. .56 ($56) profit; 13.6% ROC as a function of buying power effect.
... for a 2.09 credit.
Comments: Emulating dollar cost averaging into small caps via a 17 delta short put in the contract nearest 45 days until expiry. Currently, the highest 30-day implied volatility broad market exchange-traded fund on the board with 30-day at 27.0% (although QQQ comes in a close second at 26.5%).
... for a 2.02 credit.
Comments: Straightening up my longer-dated SPY setup, where I'm basically emulating dollar cost averaging into the broad market without actually taking a position in stock.
With the February 18th 416 at greater than 50% max, rolling it out to May to the strike paying at least 1% of the strike price in credit, after which I'll roll it up...