OPENING (IRA): IYR AUGUST/SEPTEMBER 66/68 SHORT PUT LADDER... for a total of 3.00 in credit.
Notes: With rank/implied at 49/38, looking to re-up an acquisitional setup in this dividend yielder (3.36%) for the IRA.
Shortput
OPENING: NKLA JULY 17TH 55 SHORT PUTfor a 21.95 credit.
Notes: High rank/implied after going public (134/328). Cost basis of 33.05 if assigned on the 55's. The July at the money 80 short straddle is paying around 60.00 relative to a share price of 81.33 or about 73.8% of the share price, which doesn't happen very often ... .
OPENING: AMD JULY 17TH 44 SHORT PUT... for a 1.13/contract credit.
Notes: Out of my monied covered call in the IRA for "decent" earlier today; back into it in the margin for a "classic" wheel trade in that ~45 days 'til expiry wheelhouse. Perennially decent implied (currently at 54.5%), good options liquidity, and affordable share price make this underlying ideal for short put/acquire/cover trading.
OPENING: TQQQ JULY 17TH 55 SHORT PUT... for a 2.73/contract credit.
Notes: Background implied isn't what it was a few short weeks ago, but it's still pretty high here at 89.6%. Looking to "wheel" this (i.e., short put, acquire, cover) if it breaks down; otherwise, perfectly happy to keep the premium. 5.22% ROC at max (if cash secured).
OPENING: C JULY 17TH 35 SHORT PUT... for a 1.22/contract credit.
Notes: Taking a small directional shot here in relatively high implied for a financial (42/53) that's been #CoronaHammered. Would also be fine with taking on shares and then proceeding to cover with a cost basis of 33.78, since it has dividends (4.4% yield).
OPENING (IRA): EWZ SEPTEMBER/JUNE 17/19 SHORT PUT LADDER... for a 1.44 credit.
It's not much of a ladder with only two rungs, but there's no July currently (there will be one after May opex, after which I'll consider adding a third rung).
An acquisitional play in high rank/implied (53/66) to potentially grab this divvy yielder (5.15%) at a discount.
OPENING: TSLA JANUARY 15TH 200 SHORT PUT... for an 8.95/contract credit.
Notes: You know the drill ... . A neutral to bullish assumption bet that TSLA doesn't finish the year below 200. Break even/cost basis in shares is at 191.05, so the setup makes money anywhere above 191.05.
OPENING: XLE JUNE 19TH 30 SHORT PUT... for a 1.06 credit/contract.
Notes: With rank/implied at 47/57, going bullish assumption here with the notion that oil prices recover somewhat as COVID-related restrictions lift. My general go-to is short strangle, but didn't want to get whipped on the call side if the recovery is dramatic.
OPENING (IRA): EWA SHORT PUT LADDER... for a 1.41 credit total.
Notes: This isn't paying much from a credit standpoint and isn't the most liquid thing in the world, but wouldn't mind acquiring shares. Currently a 6.20% yield.
OPENING: TQQQ JUNE 19TH 35 SHORT PUT (LATE POST)With rank/implied at 74/124 and the at-the-money short straddle paying a whopping 33% of the value of the stock price in the June expiry (57 days until expiry), sold the 84% probability of profit strike for a 2.06/contract credit late in the session.
Break even of 32.94.
OPENING: AMC SEPTEMBER 18TH 2 SHORT PUT... for a .75/contract credit.
Notes: Another small, COVID-19 weakness-related underlying, with a cost basis of 1.25/share if assigned.
OPENING: IWM JUNE 19TH 91 SHORT PUT... for 2.79/contract.
Notes: The highest rank/implied broad market instrument on the board currently. Going small, a little bit farther out in time, since May only has 38 days left in it ... .
CLOSING: /CL1! PUTSThis ... will leave a mark.
Simply too much risk to be naked/unhedged here in light of what occurred with the May contract, which may lather, rinse, repeat with the June.
OPENING: /CL APRIL 16TH 14 SHORT PUT... for an $850 credit.
Notes: With implied/rank at 67/181 and WTI crude at multi-year lows, adding in neutral to bullish assumption in April. Scratch at 22.41 for the whole show.
OPENING: TSLA MAY 15TH 315 SHORT PUT... for (wait for it) ... 11.10.
Notes: You know the drill ... . A bet that TSLA doesn't lose half its value over the next 66 days.
OPENING: TQQQ MAY 17TH 28 SHORT PUT... for 2.65/contract.
Notes: High rank/implied. I'm generally not a big fan of leveraged, so am going small here, 16 delta. Break even at 25.35 if assigned.
