Opening (IRA): QQQ October 7th 285 Short Put... for a 2.99 credit.
Comments: Targeting the <16 delta strike in the expiry nearest 45 days paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Premiumselling
Opening (Margin): SMH October 21st 205/260 Short Strangle... for a 7.35 credit.
Comments: 30-day IV still a smidge above 35% with IVR at mid-range (46.9th percentile). Selling around the 20 delta on both sides. 7.35 credit on buying power effect of 23.20; 31.7% ROC as a function of buying power effect; 15.8% at 50% max. Delta/theta -.3/15.55.
Opening (Margin): /ES October 21st 2850 Short Put... for a 3.05 credit.
Comments: Targeting the <75% of current price strike paying around 3.00 in credit. 1.525 ($152.50) max on buying power effect of 14.37; 10.6% ROC at max as a function of buying power effect; 5.3% at 50% max. A little longer-dated than I'd like to go, and the 30-day IV isn't as stellar as I'd like, but you can't have your pudding if you don't eat your meat.
Rolled (Margin): XOP September 16th 135/145 Short Strangle... to the September 16th 142/159 short strangle for a 4.94 debit.
Comments: Up to this point, I had collected a total of 9.35 in credits. Instead of rolling out a month, I opted to pay a debit to recenter risk here intraexpiry (basically to an expected move setup) in order to give it a chance to work out this cycle (while temporarily reducing assignment risk, since I moved the short call from in-the-money to out-of-the-money).
Total credits collected now 9.35 minus 4.94 or 4.41 relative to a current value for the 142/159 of 7.15 at the mid price . -1.03/25.55 delta/theta.
Opening (Margin): /ES September 30th 3080 Short Put... for a 3.10 credit.
Comments: Already have a September 30th on at the 3210, but adding a rung here on this weakness, targeting the <75% of current price strike paying around 3.00. 1.55 max on buying power effect of 16.76, 9.2% ROC as a function of buying power effect; 4.6% at 50% max.
Opened (IRA): October 21st 369 Short Put... for a 3.75 credit.
Comments: (Late Post). Back from a long(ish) weekend, I managed to sneak this in around the close with my phone app. Part of a longer-dated strategy targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. I now have October 369's, November 340's, December 325's, January 315's, and March 280's in my SPY "ladder."
Rolling (Margin): BITO Sept 12C/17P to Oct 11C/16P... for a .63 credit.
Comments: Rolling out with 28 days to go, but adjusting strikes slightly to delta neutral, since there wasn't a ton of difference in credit between rolling out "as is" versus delta balancing. Total credits collected of 5.01 on a 5 wide inverted. The setup is currently marking at 6.46 relative to my cost basis of 5.01, so it's underwater by 1.45 ($145). Moreover, the max the setup can make is 5.01 minus the width of the inversion (5.00) (i.e., $1), so I'm just looking to cut that loss a smidge before calling it a day if I can, with price ideally staying between the short option strikes throughout the life of the setup.
Resulting delta/theta of -8.42/2.18.
Rolling (Margin): XOP Sept 16th 123 Short Put to 135... for a 2.31 credit.
Comments: Rolling up the untested side to delta balance with 28 days to go. Total credits collected of 9.35 with a resulting delta/theta of -21.12/22.65. The 135/145 is marking at 10.18 at the moment, so still slightly underwater with the setup leaning net delta short.
Opening (IRA): QQQ October 21st 278 Short Put... for a 2.91 credit.
Comments: My weekly broad market short put, targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit in the exchange-traded fund with the highest 30-day IV (which has been the Q's for a bunch of weeks running here).
Opened (IRA): IWM October 21st 170 Short Put... for a 1.78 credit.
Comments: Targeting the <16 strike in the shortest duration paying around 1% of the strike price in credit. This is more of "I need small cap long delta" than "this is a really great place to put on small cap long delta" trade, so probably not the best entry point to do this, although we're getting a little bit of weakness here today.
Rolling (Margin): NVDA Sept 16th 170/220 to Oct 21st 160/210... for a 5.16/contract credit.
Comments: Rolling out to the 25 deltas (both sides) right before earnings in lieu of doing an intraexpiry delta adjustment with 28 days to go.
Total credits collected of 2.52/contract (See Post Below) plus the 5.16 here for a total of 7.68/contract. The October 21st 160/210 is currently marking at around 11.50, so I'm still down 3.80 or so per contract. It's an improvement over I was as of the last roll, but I'm still just basically slogging away at a loser here to scratch it out (or make it less of a loser).
Closed (Margin): SMH September 16th 220/260 Short Strangle... for a 4.57 debit.
Comments: Collected a total of 7.44 with one put side adjustment to delta balance. (See Post Below). 2.87 ($287) profit with 28 days to go.
Closed (Margin): QQQ September 30th 304/345 Short Strangle... for an 8.21 debit.
Comments: Collected a total of 10.10 in credits with rolls. (See Post Below). Closing out here results in a total realized gain of 1.89 ($189).
Closed (Margin): ARKK Sept 16th 44/57 Short Strangle... for a 2.23 debit.
Comments: Opened this for a 2.92 credit. (See Post Below). Taking profit with 28 days to go in lieu of adjusting the setup to delta balance. .69/$69 winner.
Opening (Margin): /ES September 30th 3210 Short Put... for a 3.10 credit.
Comments: Targeting the strike that is ~75% of current price and is paying around 3.00 in credit. Will look to add should we get further weakness, higher IV (which isn't so great here at 20.3%).
1.55 max (due to the 50 x multiplier in /ES) on buying power effect of 16.34; 9.5% ROC as a function of buying power at max; 4.7% at 50% max.
Closed (IRA): SPY October 21st 362 Short Put... for a 1.73 debit.
Comments: Opened this for a 3.70 credit. (See Post Below). Taking profit at >50% max; 1.97 ($197) profit with 66 days to go. Still laddered out at the moment in November, December, and January.
Closed (IRA): QQQ September 23rd 285 Short Put... for a 1.27 debit.
Comments: Filled for a 2.93 credit. (See Post Below). Out here at >50% max; 1.66 ($166) profit with 38 days to go. Still have September 30th 289's, October 21st 268's and 300's on.
Opening (Margin): IWM September 30th 178 Short Put... for a 1.80 credit.
Comments: Not a great place or a great IV environment to be doing this, but looking to offset some of my IWM short delta. Previously, I did a covered call, but I don't need that much long delta here at the moment, so am doing a lower delta out-of-the-money short put and will add at intervals if necessary. Delta/theta 15.18/5.
Opening (IRA): QQQ September 30th 289 Short Put... for a 2.95 credit.
Comments: Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit in the exchange-traded fund with the highest 30-day IV to emulate dollar cost averaging into the broad market. Take profit at 50% max or greater and/or roll out for duration and a credit.
This would be more ideally put on in weakness and higher IV, but I'm willing to take some risk while I wait for a better IV environment to present itself.
Rolling (Margin): XOP September 16th 118 Short Put to 123... for an .81 credit.
Comments: Small delta adjustment here in my short strangle. Total credits collected of 7.04. Resulting delta/theta -20.58/17.32.
Rolled (Margin): QQQ September 2nd 306/330 Short Strangle... to September 30th 304/345 for a 1.96 credit.
Comments: (Late Post). Realized a small gain (.54/$54) and recentered risk with 22 days to go. Rolled out to the 25 delta and collected a total of 8.14 (See Post Below) plus 1.96 or 10.10 so far.
Closed (IRA): SPY September 16th 376 Short Put... for a 1.47 debit.
Comments: (Late Post). The highest of my remaining SPY short put rungs, for which I collected a total of 12.57 in credits. (See Post Below). Total realized gains: 11.10 ($1110).
Closed (IRA): QQQ September 16th 280 Short Put... for a 1.13 debit.
Comments: (Late Post). Rolled this a few times, collecting a total of 9.60 in credit. (See Post Below). Closed it out today for 1.13, resulting in a total realized profit of 8.47 ($847).
