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Rolling: ARKK January 21st 95.22C/104.22P to February 18th... 94.22C/104.22P inverted short strangle for a 3.80 credit. Comments: Rolling this a smidge early here. Total credits collected of 15.25 as of the last adjustment (See Post Below) plus the credit received for this roll. The setup is inverted by 10.00, so I can still make money on it because I've collected more in credits than the inversion, but am more likely just to scratch it out if I get the opportunity so that I can reload an unbroken setup. I would note that there was a dividend/special distribution on the 29th which affected the strike prices of the setup.
AMEX:ARKK
by NaughtyPines
Closed: BITO January 21st 25/44 Short Strangle... for an .80 debit. Comments: Filed this for a 1.60 credit (See Post Below; out here via good-until-cancelled order to take profit at 50% max. .80/$80 profit. 3.3% ROC as a function of buying power effect. Although implied volatility has contracted a bit, will consider re-upping in the February cycle after New Year's, assuming the strikes above 40 get populated. Currently, the February 18th 40 short call is the highest available strike, with a delta of .29.
AMEX:BITO
by NaughtyPines
Opened: EWZ February 18th 24 Short Put... for a .53 credit. Comments: Adding a short put element to what was a long call diagonal (June 17th 25 Long Call/February 18th 32 Short Call). Up to this point, my cost basis in the diagonal alone was 5.45, implying a 30.45 break even relative to where EWZ is currently trading at 27.90. I wanted to bring the setup break even closer to where EWZ is currently trading, and selling this put results in a net cost basis of 4.92 with a break even of the long call strike (25) + 4.92 or 29.92. I'll look to roll the short strangle (short put/short call) as a unit to reduce cost basis further, assuming we don't get a bodice ripper up to >32, at which point the diagonal should begin to converge on max.
AMEX:EWZLong
by NaughtyPines
Opened (Margin): NVDA January 21st 220/360 Short Strangle... for a 6.15 credit. Comments: Ooops. Missed one. Filled this on Friday. Rank/implied at 96/66 with earnings in the rear view mirror. 6.15 credit on buying power effect of 28.24; 21.8% ROC at max; 10.9% at 50% max as a function of buying power. Went higher probability of profit with lower delta strikes due to slightly shorter duration than I usually do (35 days 'til expiry). Will look to take profit at 50% max; manage sides on approaching worthless/side test.
NASDAQ:NVDA
by NaughtyPines
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