Closing (IRA): QQQ July 29th 250 Short Put... for a 1.39 debit.
Comments: Opened for a 3.00 credit (See Post Below). Closing out here at >50% max, 1.61 ($161) profit.
Premiumselling
Opening (IRA): SPY August 19th 338 Short Put... for a 3.45 credit.
Comments: Targeting the <16 delta strike in the shortest duration expiry paying 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Opening (IRA): QQQ August 12th 240 Short Put... for a 2.40 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.
Opening (IRA): IWM August 19th 150 Short Put... for a 1.57 credit.
Comments: Targeting the <16 delta short put paying around 1% in credit in the expiry nearest 45 days to emulate dollar cost averaging into the broad market.
Rolling: NVDA August 19th 190 Short Call to 160... for a 6.10 credit and selling the 180 call for 2.52.
Comments: Inverting my original short strangle to a 5-wide (165P/160C) and selling the 180 call to flatten net delta. Total credits collected of 17.48. Resulting delta/theta 8.27/29.95 with a downside break even of 147.52.
This underlying ... has been pesky. It's possible that taking on shares and selling call against would've been the better way to go, since it ripped up to 190 at one point (only to subsequently give it all up), which would have afforded me an opportunity to bail on the position.
Rolling: QQQ August 19th 331 Short Call to 316... for a 1.01 credit.
Comments: Delta balancing my short strangle a smidge ... . Total credits collected of 6.06. Delta/theta 8.84/16.84.
Rolling: BITO August 19th 16 Call to 12... for a 1.13 credit.
Comments: Inverting my short strangle further ... . Total credits collected of 3.59 on a 5 wide inverted (12C/17P).
Rolling: IWM August 19th 192 Short Call to 183... for a 1.27 credit.
Comments: Delta balancing my IWM short strangle a smidge ... . Total credits collected of 4.08. End-of-day delta/theta 4.86/11.98. Will look at managing any remaining setups that are "out of kilter" on Friday.
Opening: /ES August 5th 2700 Short Put... for a 3.05 credit.
Comments: A basic bet that /ES doesn't lose more than 25% of its value over the next 36 days put on in weakness/higher implied volatility. Still have July 29th and August 19th rungs on. 1.525 ($152.50) max on buying power effect of 19.79; 7.7% ROC at max as a function of buying power effect; 3.9% at 50% max.
Discount/ premium pricing - SMC📉 We use the Fibonacci retracements for spotting discount and premium levels in a range.
📝 We draw the Fibonacci tool from the bottom to the top in an uptrend, and from the top to the bottom in a downtrend.
Terminologies:
EQL: equilibrium = a state of physical balance (50%).
Discount: we buy from
Premium: we sell from
To make it more approachable, we can compare using the fib tool as a scanner when you go to the supermarket. You won't buy the product when it's expensive, but only buy when it's cheap. Beside that - if we want to sell a product to a supermarket, we want to get the highest price as possible.
Combining it with order blocks
You can basically increase the probability of order blocks with the fib tool. Order blocks that are not in discount you won't buy from, and order blocks that are not in premium you won't sell from.
Opening (IRA): SMH August 19th 175 Short Put... for a 1.76 credit.
Comments: Targeting the <16 delta strike in the August monthly (53 DTE) paying around 1% of the strike price in credit. Adding a smidge of long delta back into my portfolio to keep my net delta happy using an ETF that is closely correlated with the broad market (SPY 3-month correlation of .92) instead of cluttering up my IWM, QQQ, and SPY short put ladders further.
Other ETF's to do this with: XLK (.97 3-month correlation), EFA (.90).
Rolling (IRA): SPY July 15th 370 Short Put to August 19th 347... for a .75 credit.
Comments: Doing a little early housekeeping where I can running into the July 4th weekend ... .
Rolling for a realized gain to the <16 delta strike in the expiry nearest 45 days paying around 1% of the strike price in credit. Collected 3.65 (See Post Below) plus the .75 here for a total of 4.40 relative to an August 19th 347 short put value of 3.53, so I've realized gains of around .87 ($87) so far.
Rolling (IRA): QQQ July 15th 264 Short Put to August 5th 260... for a 1.67 credit.
Comments: Rolling here at around 50% max instead of adding new units. Total credits collected of 2.64 (See Post Below) plus the 1.67 here for a total of 4.31 relative to an August 5th 260 short put value of 3.08, so I've realized gains of 1.23 ($123) in this one so far.
Rolling: IWM August 5th 158/187.5 to August 19th 158/192... for a .46 credit.
Comments: Locking in some realized gain and recentering risk/balancing delta. Total credits collected of 2.81. Delta/theta 2.69/10.46.
Opened (IRA): IWM August 5th 154 Short Put... for a 1.56 credit.
Comments: Adding back in some long delta here in IWM, targeting the <16 strike in the expiry nearest 45 days paying around 1% of the strike price in credit.
Opening: QQQ August 19th 250/331 Short Strangle... for a 5.05 credit.
Comments: 5.05 ($505) credit on buying power of 29.26 ($2926); 17.3% ROC as a function of buying power effect; 8.6% at 50% max. Currently the highest IVR/IV broad market ETF on the board at 71/35. Went a little wider here than usual (13 delta both sides) to accommodate more whip. Delta/theta .45/14.52.
Rolled: NVDA July 15th 170/175 to August 19th 165/190... for a 2.70 credit.
Comments: Recentering risk ... . Total credits collected of 8.86.
Closed: /ES July 15th 2960 Short Put... for a 1.50 debit.
Comments: Filled for a 3.00 credit (See Post Below). Out on Friday at 50% max. (3.00 - 1.50)/2 = .75 ($75) profit. Although still quite far out of the money, this was the highest rung of my /ES short put ladder, so wanted to dry the powder out for a potential dip going forward. Still have rungs on in the July 29th expiry (2850, 2700, 2500), as well in the August monthly (2100), so I was okay with taking off a little bit of risk here.
Closed (IRA): SPY July 29th 330 Short Put... for a 1.12 debit.
Comments: On occasion, Fridays can be a mad scramble. Yesterday was one of those, so I didn't get an opportunity to post all of in profit long delta trades I took off to dry out powder for "the next one." Opened for 4.00 even (See Post Below); out on Friday's bull fest for 1.12 -- 2.88 ($288) profit.
Closed (IRA): QQQ July 8th 267 Short Put... for a .92 debit.
Comments: Collected a total of 4.80. (See Post Below). Closed out late in Friday's session for a total realized gain of 3.88 ($388).
Closed: IWM July 29th 145 Short Put... for a .46 debit.
Comments: Opened for a 1.91 credit (See Post Below); out during Friday's session for .46. 1.45 ($145) profit.
Closed (IRA): IWM July 29th 140 Short Put... for a .53 debit.
Comments: In for a 1.49 credit(See Post Below); out at >50% max here on movement plus volatility contraction. .96 ($96) profit.
Rolling (IRA): QQQ July 1st 301 to August 19th 292... for a 2.93 credit.
Comments: Rolling down and out to the August monthly, as the August 5th contract didn't seem all that liquid. Total credits collected of 6.50 (See Post Below) plus the 2.93 here for a total of 9.43.
I'll generally keep on doing this (down and out) with any of my monied rungs until I can't get decent (a relative term) strike improvement, along with a decent credit, at which point I'll just take assignment and proceed to sell call against. (See, e.g., my QQQ June 24th 321 short put, which I couldn't strike improve to my satisfaction without going out hugely long-dated).
