... for a 2.99 credit. Notes: Selling some 16 delta risk premium in the QQQ's on this weakness. 1.0% ROC as a function of notional risk. I'm fine with getting assigned, selling call against, but will start to look to take profit or otherwise manage the trade at 50% max.
... for a 5.10 credit. Notes: It's like the market knows that I'm on the road/vacation. Sticking with the monthly (44 days) here.
... to the November 19th 290 for a 1.28 credit. Notes: The last batch of some pre-vacation housekeeping/profit-taking. This isn't quite at 50% max yet, but is around 1.10 in profit after a mere 33 days (See Post Below), so rolled to the November short put paying at least 1% in credit relative to the strike price. Total credits collected: 4.05.
... for a .48/contract debit. Notes: Decided to take profit here on this little up move, rather than hang out in the trade another 18 days, particularly since I collected a total of 3.97 in credits and rolled down and out on strike test. (See Post Below). 3.97 - .48 = 3.49 ($349) profit/contract. Will consider re-upping on a dip back to the 157 level (March...
... for a .26/contract debit. Notes: In for 1.38/contract (See Post Below); out for .26 here; 1.12 ($112)/contract credit with 74 days to go. No sense in waiting another two months for the remaining $26 to come in.
... for a .20/contract debit. Notes: In for a 1.88/contract credit (See Post Below), out for .20 here. 1.68 ($168) profit/contract with 49 days to go. No sense in hanging out another 49 days for $20 relative to the BP this is tying up.
... for a 5.10 credit. Notes: Probably should wait until I get back from vacation, but wanted to take advantage of this down move a little bit here. Selling the 18, buying the 15 delta here to get into a spread paying at least 10% of the width in credit. For smaller accounts, the correspondent SPY short put vertical would be the June 18th 382/387 -- selling the...
... for a 1.70 credit. Notes: Some more pre-vacation profit-taking/housekeeping. With the September 275 converging on 50% max, rolling it up and out to the October 307 (paying 3.08) for a 1.70 credit. Total credits collected of 4.12 + 1.70 = 5.82 versus a 3.08 value for the October 307 = a realized gain so far of 2.74 ($274).
... for a .32/contract credit. Notes: A continuation of a long call diagonal with the back month at the 16 out in January. (See Post Below). Rolling a smidge early here in advance of vacation. Cost basis in the diagonal now 8.08 - .32 or 7.76/contract with a resulting break even of the long call strike (16) plus 7.76 or 23.76.
... for a .71/contract credit. Notes: A continuation of my TLT covered calls (i.e., shares of stock + short call). (See Post Below). With the 145's converging on 50% max, rolling out to the July 144's (28 delta) for a .71/contract credit. Total credits collected of 7.13 versus a short call value of 1.49 = realized gains of 5.64/contract so far on the short...
... for a 1.89 credit. Notes: With only .30 left in the May 14th* 205 (14 days), rolling this out to June 18th (49 days) 203 (16 delta) for a realized gain and a credit, rather than adding more units (i.e., I'd leave this one open to allow the remaining .30 in extrinsic to piss out and just sell a new contract in June). Total credits collected of 6.32 versus a...
... for a 2.43 credit. Notes: Even though I'm going on vacation here shortly, going ahead and doing my weekly short put in the broad market exchange-traded fund having the highest 30-day implied, which is IWM. Decided to go with the slightly more aggressive 18 delta here, since it was either that or the 205 due to lack of strike-to-strike granularity in the...
... for a .17/contract debit. Notes: Pre-vacation profit-taking/cleanup. In for 1.62/contract (See Post Below), out for .17 here; 1.45 ($145) profit/contract. Will re-up if we get weakness back to 155 or below. Still have May 163's, June 149's, and July 145's.
... for a .20/contract debit with 21 days to go. Notes: Some more pre-vacation profit-taking/clean up. In for 2.17/contract (See Post Below); out for .20 here. 1.97/$197 profit per contract.
... for a .19/contract debit with 49 days to go. Notes: Pre-vacation profit-taking where I can. This one I started out in April and then rolled, collecting a total of 1.14/contract. Closing here for a total profit of .95 (95)/contract.
... for a .45/contract debit. Notes: Hit 50% take profit today. In for .91 (See Post Below), out for .45, .46 ($46) profit per contract, 11.2% ROC as a function of buying power effect. With earnings in 11 days, money, taking, running ... .
Pictured here is a July 16th 416/432 Put Ratio with twice the number of contracts on the long side as on the short which I can either do as a standalone directional shot or (in this particular case) a hedge against a portfolio that is longer than the net delta of this particular setup. Here's how it's constructed: Start out by (a) looking to buy 2 x (or some...
Generally speaking, I'm a premium seller, taking advantage of high implied volatility to sell options to take a position in an underlying without actually getting into shares of stock. GLD, however, isn't particularly known for its volatility and therefore isn't the greatest standalone premium selling play. As of the writing of this post, 30-day implied is at...