... for a 1.49 credit.
Comments: Rollin', rollin', rollin' ... . With the 201 at >50% max, rolling out to the 16 delta October 22nd 205, as opposed to adding units. I've collected a total of 3.39 (See Post Below) + 1.49 here = 4.88 relative to the current price of the 205 of 2.23, so I've realized gains of 4.88 - 2.23 = 2.65 ($265) so far.
... for .53/contract debit.
Comments: A little bit of Plain Jane profit taking ... . Put this on for 1.70 credit/contract (See Post Below). 1.70 - .53 = 1.17 ($117) profit per contract with 14 days to go. I've still got October 15th 20 covered calls and October 15th 15 short puts on.
30-day implied volatility is at a whopping 280%. A trade idea with a ridiculous return on capital at max, regardless of whether you strip naked (i.e., short put) or spread it.
Notional Risk: $784
Max Profit: $216
ROC at Max as a Function of Notional Risk: 27.6%
ROC at 50% Max as a Function of Notional Risk: 13.8%
Break Even/Cost Basis in Stock if...
... for a 2.40 credit.
Comments: With the 365 at 50% max, rolling up intraexpiry to the strike paying at least 1% of strike in credit (the 409 is paying 4.09). Total credits collected of 9.96 + 2.40 = 12.36 minus a current short put value of 4.09, so I've realized gains of 12.36 - 4.09 = 8.27 ($827) so far.
... for a 2.29 credit.
Comments: Part of a longer-dated strategy intended to keep maximal buying power deployed even when "local" (i.e., <45 days until expiry implied volatility) kind of sucks. With the October 15th 391 worth only 1.13, cleaning up my SPY short put ladder by rolling this out to the February strike paying at least 1% of the strike price in...
... for a .15/contract debit.
Comments: Opened these for a .45/contract credit. (See Post Below). With 42 days to go and implied at <35%, going ahead and doing just Plain Jane profit taking here, since 42 days is a long time to wait for the remaining $15. .30/$30 per contract profit.
... for a 1.50/contract credit.
Comments: With the 100's at greater than 50% max (they're worth .84 here), rolling out to the November monthly for a realized gain and a credit. The implied isn't as good as it was, but is still >35%; otherwise, I'd just leave it alone or take profit and move on. Relatedly, since the implied isn't fantastically great, keeping my...
... for a 2.40 credit.
Comments: More cleanup/profit-taking on my SPY longer-dated short put ladder, here, in the November cycle. With the November 19th 345 at >50% max (it's worth 1.37 here), rolling it out to the December strike paying at least 1% of the strike price, which is the 376, paying 3.77.
Total credits collected of 6.19 (See Post Below) plus 2.40...
... for a 2.86 credit.
Comments: More profit-taking, longer-dated SPY ladder housekeeping. With the October 15th 382 at >50% max (there's only 1.15 left in it at the moment), taking profit and rolling it out to the November 15th 401 which is paying 4.02 -- around 1% of the strike price in credit. Total credits collected of 10.45 (See Post Below) plus 2.86 =...
... for a .60 debit.
Comments: Plain Jain profit-taking/SPY short put ladder clean up here. Total credits collected via rolls of 18.35 (See Post Below). Closing out here: 18.35 - .60 = 17.75 ($1775) of profit.
... for a 2.12 credit.
Comments: With the October 15th 373 at 50% max, rolling it out a month to the strike paying at least 1% of the strike price in credit. Total credits collected of 11.07 (See Post Below) + 2.12 = 13.19 versus a November 19th 379 short put value of 3.82, so I've realized gains of 13.19 - 3.82 or 9.37 ($937) so far.
... short put for a 1.08/contract credit.
Comments: With the 30-day implied remaining fairly decent at 43.2% and the September 17th 102's at around 50% max, rolling them down and out to the October 100's for a 1.08/contract credit here. I originally collected 2.44/contract for the 102's, (See Post Below), so have collected 2.44 + 1.08 = 3.52 versus a current...
short put for a 1.82 credit.
Comments: Part of a longer-dated strategy targeting the strike paying at least 1% of the strike price in credit. Here, cleaning up my ladder a little bit by taking profit on the December contract, which is at 50% max. Total credits collected of 3.33 (See Post Below) + 1.82 = 5.15 versus a current short put value of 3.35, so I've...
... for a 1.37 credit.
Comments: With this contract at greater than 50% max, rolling down and out for a realized gain of what I put it on for (2.01) (See Post Below) minus its current value (.79) or 1.22 ($122) credit. Going with the expiry nearest 45 days until expiry/16 delta strike. Total credits collected of 2.10 + 1.37 = 3.47.
Were I not to have been able...
.. 201 Short Put for a 1.27 credit.
Comments: I originally opened this for 2.02. (See Post Below). With only .68 left in it (>50% max), I'm rolling it down and out to the 16 delta strike in expiry nearest 45 days until expiry to reduce risk a smidge relative to where the underlying is currently trading. I'm opting to do this versus adding additional units,...
... for a 1.76 credit.
Comments: Adding to my relatively small SOFI position here on weakness as a little bit of an engagement trade while I wait for a higher volatility environment in the broad market or exchange-traded funds.
My cost basis in any shares I may get assigned is the strike price (15.00) minus the credit received (1.76) or 13.24. The whole...