... for a .37 debit. Comments: In for 2.38 (See Post Below), out for .37 here, 2.01 ($201) gross profit with 21 days to go. I considered rolling, but rank/implied is at 1.6/23.5%. The 1.6 means the implied volatility is at the very low end of its 52-week range, and the 23.5% 30-day isn't great, so will wait for weakness and an accompanying volatility pop to...
... for a .23/contract credit. Comments: Put on when the expiry-specific implied was at 56% (See Post Below), it's crushed in here to 38.8%, so I got movement away from the short put strike + volatility crush. No sense in hanging out another 36 days for the remainder of the extrinsic. In for 1.74; out for .23; 1.51 ($151) profit/contract.
... for a .70 debit. Comments: In for 1.41 (See Post Below), out for .70 today (50% max) with 37 days to go, probably due in no small part to the volatility crush. 30-day was at 341% when I put it on; it's now at 276%. I'll take 6.0% ROC for five days' "work" any day.
... for a .31 debit. Comments: Collected a total of 3.79, (See Post Below). 3.79 - .31 = 3.48 ($348) profit. Closed today rather than rolling, since IWM implied has come in quite a bit; it's currently 22.4% and at the very bottom of its 52-week range. I also still have contracts in the July 2nd weekly, the July 16th monthly, and the July 23rd weekly, so not...
... for .14/per contract. Comments: In for .48 (See Post Below), out for .14. .34 ($34)/contract profit with 39 days to go. No sense in hanging out another 39 days for the remaining .14. Implied is still pretty decent here with 30-day at 44.8%, so may re-up in a bit when an August monthly becomes available, assuming the volatility is still there.
... for a 2.50 debit. Comments: In for 5.10 (See Post Below), out here for 2.50; 2.60 ($260) profit with 21 days to go. 5.2% ROC.
... for a 1.40 ($140) credit. Comments: Okay, okay, okay ... . I'll bite. With 30-day implied volatility at a whopping 341%, taking a really conservative approach to this by selling the 5 delta strike and buying the 0 (it's probably greater than 0, but they've rounded to the nearest delta). By buying the cheap put (it costs .08 here), I define my risk,...
... for a .33 debit. Comments: With 26 days to go, taking profit here at 86% max. In for 2.32 (See Post Below), out for .33 here; 1.99 ($199) profit.
... for a 1.75 credit. Comments: In this particular case, I don't want to extend duration (since it's already ridiculously long-dated as it is), so am just rolling up intraexpiry for a credit at around 50% max. Total credits collected of 3.33 (See Post Below) + 1.75 = 5.08 versus a short put value of 3.03 here, so I've realized a gain of 2.05 ($205) so far.
... short put for a 1.94 credit. Comments: At 50% max, rolling month to month to the strike paying at least 1% of the strike in credit (i.e., the 358 is paying 3.60, which is just a smidge over 1%). Total credits collected of 7.07 (See Post Below) plus 1.94 = 9.01 versus a current short put value of 3.60 = a realized gain of 5.41 ($541) so far.
... for a 2.01 credit. Comments: With the July 16th 385 approaching 50% max, rolling month to month to the strike that pays at least 1% of the strike in credit. Total credits collected of 14.12 (See Post Below) plus 2.01 = 16.13 versus a value for the August 381 short put of 3.78 or so (i.e., a realized gain of 16.13 - 3.78 or 12.35 ($1235).
... for a 4.00 credit. Comments: Selling the 16, buying the 13 in the expiry nearest 45 days until expiry to emulate dollar cost averaging into the market with more room to be wrong than buying shares at-the-money. Generally, take profit at 50% max, loss at two times credit received. 8.0% return on capital at max/71.2% annualized; 4.0% ROC at 50% max/35.6% annualized.
... for a 2.60 debit. Comments: Put on for 5.20 (See Post Below), hit my order to close at 50% max this morning with 28 days to go. 2.60 ($260) profit.
... for a 2.22 credit. Comments: Total credits collected of 3.10 (See Post Below) + 2.22 = 5.32 versus a short put value of 2.32 = a realized gain of 3.00 so far. Previously, I rolled down and out as a "window dressing" roll, but like the idea of being in all three majors (SPY, IWM, and QQQ) to take advantage of some rotational stuff going on, so decided to...
... for a 1.69 credit. Comments: Was hoping for a red day here after yesterday's price action, but can't have everything. In any event: with only .58 or so left in the 202.5, rolling out to the July 23rd 16 delta strike at the 205 for a 1.69 credit in lieu of adding units. Total credits collected of 4.12 (See Post Below) + 1.69 or 5.81 versus the 205's current...
... for an .81/contract credit. Comments: A continuation of my covered strangle, consisting of January '22 47 covered calls plus the short puts. It's taken off quite rapidly here, so rolled the short put up today to reduce cost basis further. Cost basis at 41.32 (See Post Below) minus .81 or 40.51. This will make this a nice winner assuming the short put...
Here's where the premium was at as of Friday's close: Broad Market Exchange-Traded Funds With 30-Day Implied >20%: IWM (1/23) Comments: I have quite a bit of IWM on here, but my order of preference is broad market, then sector, then single name, so am comfortable with adding if we get both weakness and a pop in volatility. IWM/RUT has been fairly rangebound,...
... for a 4.10 credit. Comments: Instead of moving the spread in to force a given credit (which is what I did previously), selling the 16 and buying the 13 delta strikes here, in essence dollar cost averaging into the market. 8.93% ROC at max/77.6% annualized; 4.47% ROC at 50% max/38.8% annualized at 50% max.