NaughtyPines

NaughtyPines Updated 

... for a 401.49 debit. Comments: As with my IWM monied covered call, re-upping in QQQ in 45 days' duration with the short call at about the same delta it was in the setup I just took off with the basic goal being to milk a little bit more out of August without taking on additional risk. Here, re-upping at about the same short call delta actually results in a...

NaughtyPines Updated 

... for an 87.83/contract debit. Comments: Parking some cap in TLT while I go about "summer things." Selling the -75 call against shares to emulate the delta metrics of a 25 delta long put while having built-in short call defense. Metrics: Break Even/Buying Power Effect: 87.83/contract Max Profit: 1.07/contract (ex. divvies); 1.38/contract (with divvies) ROC...

NaughtyPines Updated 

... for a 481.76 debit. Comments: Re-upping in SPY in slightly longer duration, but with the short call at about the same delta as the one I took off, resulting in a lower buying power effect and break even with the primary goal being to milk a little more out of August before moving onto Sept. Again, un-sexy metrics as a standalone trade: Buying Power...

NaughtyPines Updated 

... for a 191.21 debit. Comments: I'm not quite ready to move out to the September monthly due to its duration, so doing a little something different here to attempt to milk a smidge more out of August. After having taken off my longer-dated position in profit, re-upping in 45 DTE with the short call at about the exact same delta it was at previously (around...

NaughtyPines Updated 

... for a 70.80 debit. Comments: High IV at 55%. Buying a one lot and selling a -75 call against in the August 16th monthly to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. I looked at doing something in the 45 DTE wheelhouse, which would be the August 30th expiry, but it was less liquid than the monthly, so opted to...

NaughtyPines

... for a 54.85 debit. Comments: Added to my position at a strike/break even better than what I currently have on. Metrics: Buying Power Effect/Break Even: 54.85/share Max Profit: 3.15 ($315) ROC at Max: 5.74% 50% Max: 1.58 ($158) ROC at 50% Max: 2.87%

NaughtyPines Updated 

... for a 1.13 credit. Comments: Adding a rung out in August at strikes better than what I currently have on, selling the 25 delta strike. Metrics: BPE/Break Even: 18.87 Max Profit: 1.13 ($113) ROC at Max: 5.99% 50% Max: .57 ($57) ROC at 50% Max: 3.00% Will generally look to take profit at 50% max/roll out at 21 DTE if it hasn't hit the TP by then.

NaughtyPines

... for a 59.60 debit. Comments: High IVR/high IV at 68.7/63.1%. Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Additionally, adding at strikes/break evens better than what I've current got on (the August 16th 73 covered calls; break even 70.80). Metrics: Buying...

NaughtyPines Updated 

... for a 493.42 debit. Comments: As with my QQQ monied, re-upping in SPY after having taken profit on my August 16th 493. Here, selling the -84 delta call against, which will mean a lower max and a lower ROC %-age. Just looking to potentially milk a little more out of the August cycle (60 DTE), before moving into Sept. Metrics: Buying Power Effect/Break...

NaughtyPines Updated 

... for a 420.39 debit. Comments: After having taken profit on my August 16th 420 CC, re-upping, but at a slightly higher strike ... . The ROC %-age metrics aren't generally what I like to see out of these, but have already realized some gains in the August cycle, so am fine if the ROC %-age isn't stellar here. I'm also selling the -85 delta call against, as...

NaughtyPines Updated 

... for a 187.46 debit. Comments: (Late Post). Sold the -75 call against a one lot to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Metrics: Buying Power Effect/Break Even: 187.46. Max Profit: 3.54 ($354) ROC at Max: 1.89% ROC at 50% Max: .94% Will generally look to take profit at 50% max on the entire setup (stock +...

NaughtyPines Updated 

... for an .81 credit. Comments: Adding a rung at the 22 strike, which is better than either my covered call break even or the July 19th 24 short put I've got on. Will generally look to take profit at 50% max, but am fine with taking on additional shares and selling call against.

NaughtyPines

... for a 37.00 debit. Comments: Back into TAN (30-Day IV: 47.6%), selling the -76 call against stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Going with the August 30th, 46 DTE contract. Metrics: Buying Power Effect/Break Even: 37.00/share Max Profit: 1.00 ($100) ROC at Max: 2.63% 50% Max: .50 ($50) ROC at...

NaughtyPines Updated 

... for an 83.77 debit. Comments: Some of the only red on my ETF board ... . Here, selling the -75 delta call against a one lot to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. There is also a divvy to be had some time in June, with the last distribution being .73. Metrics: Buying Power Effect/Break Even:...

NaughtyPines Updated 

... for a 68.76 debit. Comments: Buying stock and selling a -75 delta call against to emulate the delta metrics of a 25 delta short put with the built-in defense of the short call. As usual, this only makes sense in a cash secured environment where you don't get much BP relief going with the short put over the covered call; on margin -- stick with the short...

NaughtyPines Updated 

... for a .55 credit. Comments: With the June 86 at greater than 50% max, rolled it down and out to the November 15th 83 for a .55 credit (where I currently don't have a "rung" on). I collected .93 for the June 86; with the .55 here, I've collected a total of 1.18. Primarily looking to reduce a smidge of risk in this position, since my highest strike is at the 86.

NaughtyPines Updated 

... for a 37.86 debit. Comments: High IVR/IV at 55.1/41. Selling the -75 call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 37.86 Max Profit: 1.14 ROC at Max: 3.01% 50% Max: .57 ROC at 50% Max: 1.50% Will generally look to take profit at 50% max.

NaughtyPines Updated 

... for a .93 credit. Comments: High IVR/IV at 51/44. Adding a short put in the vicinity of the 25 delta strike on weakness to my covered call, which has a 37.86 break even. (See Post Below). Metrics: Break Even/Buying Power Effect: 36.03 Max Profit: .93 ($93) ROC at Max: 2.44% ROC at 50% Max: 1.22% Will generally look to take profit at 50% max; roll for...