... for 9.80/contract debit. Comments: Collected a total of 11.03/contract with various defensive rolls and roll out for duration. (See Post Below). Closed it out today for 9.80, a 1.23 ($123) profit/per contract.
... short straddle. Comments: Locking in some realized gains by rolling the 151/160 and the 157C/158P inverted out to the March 18th 160 short straddle. I had to do this in separate rolls, receiving 7.19 in credits for the roll of the 151/160 and 3.67 for the roll of the slightly inverted 157C/158P. I've collected a grand total of 22.07 in credits...
... for a 2.55 debit. Comments: Total credits collected of 3.02 on this puppy. (See Post Below). Closing out today for a small winner (.47/$47).
... for a 4.86 debit. Comments: I collected a total of 5.44 in credits for this setup. (See Post Below). It started out as a 17 short straddle, after which I rolled the 17 short call down defensively to cut net delta, resulting in an inverted strangle (i.e., short call below the short put). Closed it out here for a small winner on this up move; 5.44 - 4.86 =...
... for a .29 credit. Comments: This ... is going to need time to work out. Collected 3.02 in credits so far, (See Posts Below), so I'm functionally long the 23 puts with a cost basis of 19.98 (is one way to look at it).
... for a 5.02 credit. Comments: High IVR/high IV here. I looked at various ways to get around the awful call side skew and decided to just short straddle it. Break evens at 11.98 and 22.02 with delta/theta at -16.85/4.32. Will look to take profit at 25% max. I'm indicating that it's "short" because of the net delta metric, but it can wander around anywhere...
... and selling the 19/27 long straddle aspect for an .86 credit total. Comments: This originally started as a 19/23/23/27 iron fly, for which I received a 1.86 credit. (See Post Below). I closed out the longs for a .42 credit and then rolled to naked "as is" to the January 21st monthly for a .44 credit with the net delta of the position now being bullish...
The current price is at a strong resistance zone, and considering the Option OI & PCR, stock is most likely to be in consolidation phase. Since it will be range bound, one can take a call accordingly. I would prefer to enter in a short straddle for Jan 2021 expiry.
... for a 2.44/contract credit. Notes: With price trading in between the 32 and 33 strikes, went skinny short strangle in lieu of short straddle. Since it's almost a straddle, I'll look to take profit at 25% max. I've gone ahead and shown defined risk wings for an iron fly/skinny iron condor setup on the chart -- the September 18th 28/32/33/37, which was paying...
... for a 1.92 credit. Notes: Rank/implied at 52/39 with the at-the-money short straddle paying 11.5% of share price. Will look to manage at 25% max or on side approaching worthless.
... for 7.23/contract. Notes: Rather than inverting my short straddle (See Post Below), adding a short put to delta cut instead. Position scratch at 49.09, delta/theta -23.22/8.36.
This is a continuation of a short straddle I've been diddling around with since July ... . As of the last roll (See Post Below), my scratch point was 24.71 versus the straddle value of 27.79. As of today's close, its value was 27.32 with 19.49 of extrinsic and delta/theta metrics of -23.07/8.55. I also erected a November 270 short put (currently 22.82 delta) as...
With a moderate IVR of 32.3, it makes sense to enter into a short strangle, where we are writing both the 45 calls and puts with the August 9th expiry. This trade does have unlimited risk, but does earn a profit of 550 per contract when the underlying security, Weibo, a Chinese Internet Technology firm, stays exactly at the k of 45. Because of the priced-in...
... for a 12.34 credit. Metrics: Max Profit: $1234/contract Max Loss/Buying Power Effect: Undefined/~$5560 Break Evens: 265.66/290.34 Delta/Theta: -.83/13.27 Notes: Basically, an expected move short straddle ... . Will look to roll out as a unit at 25% max/side approaching worthless to an expiry/strike that cuts net delta to +/- 30 or at 21 days 'til expiry,...
This is a continuation of a directionally neutral premium selling play (See Post Below) which I've rolled out to June and transformed into a bullish assumption premium selling play. Here, I'm looking to work it as a quasi-synthetic covered call, with the in the money short put standing in for my stock, and the short call acting as cover. Naturally, it isn't...
My screeners aren't showing me a ton of things for either earnings-related volatility contraction plays and/or just Plain Jane premium selling, so I'm largely looking just to work what I have on, do any adjustments that are necessary, and wait for a higher volatility environment (VIX is at sub-15 here) to deploy capital back into premium selling. The Chinese...
... for a 3.08/contact credit. Metrics: Max Profit: $308/contract Max Loss/Buying Power Effect: Undefined; ~$180/contract (on margin) Break Evens: 5.92/12.08 Delta: 19.79 Theta: .99 Notes: A small bullish assumption play in a small underlying with high 30-day implied at 77.4%. Going out farther than usual in time because it won't tie up much buying power in...
This is a short straddle that started as a double diagonal. (See Post Below). I've been rolling the short straddle body out to generally at-the-money to take profit and to bring in additional credits. Although implied volatility (31%) is at the low end of its 52-week range, it is more than twice that of the broad market; SPY is at 14%. So far, I've collected...