Opening (IRA): QQQ November 17th 324 Short Put... for a 3.28 credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market and to generate "free cash flow."
Premiumselling
Opening (IRA): IWM October 20th 173 Short Put... for a 1.78 credit.
Comments: My weekly short put in the small caps exchange-traded fund, targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit.
This is to emulate dollar cost averaging into the broad market without actually being in the stock.
Opening (IRA): SMH November 17th 122.5 Short Put... for a 1.34 credit.
Comments: Adding a rung out in the November monthly so that my October rung doesn't look so lonely ... . It's actually because SMH 30-day IV is still fairly decent at 31.6%; the only options liquid ETF's with better IV are GDXJ (35.2%) and FXI (32.0%).
Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semiconductor exchange-traded fund.
Opening (IRA): QQQ October 20th 340 Short Put... for a 3.48 credit.
Comments: My weekly short put in the Q's, targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit.
This is to emulate dollar cost averaging into the broad market without actually being in the stock.
Opening (IRA): QQQ Oct/Nov/Dec 329/314/300 Short PutsComments: Targeting the <16 strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
October 20th 320: 3.35 credit
November 17th 314: 3.17 credit
December 15th 300: 3.02 credit
Opening (IRA): XBI October 20th 68 Short Put... for an .82/contract credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the biotech sector.
I'm fine with getting assigned, selling call against, but mainly just selling premium in some relatively high IV sector exchange-traded funds (XBI's at 30.9%) while I wait for some of my broad market to come in.
Opening (IRA): SMH October 20th 130 Short Put... for a 1.60 credit.
Comments: Just adding a little sump thin' sump thin' in high IV exchange-traded fund land, selling premium that targets the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semicon sector.
Here, 30-day IV is at 33.4% and at the top of my liquid exchange-traded fund board when sorted by 30-day. Currently, only GDXJ is higher, coming in at 33.4%.
Opening (IRA): SPY November 17th 395 Short Put... for a 3.98 credit.
Comments: Targeting the <16 strike paying around 1% of the strike price in credit. I already have rungs on in the September 29th, October 20th, so going out to November here with this particular rung.
Opening (IRA): SPY Dec 15th/Dec 29th 375/368 Short PutsComments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Here, just rounding out fourth quarter rungs at strikes better than what I currently have on.
December 15th 375: 3.81 credit
December 29th 368: 3.73 credit
Opening (IRA): QQQ Nov/Dec 304/390 Short PutsComments: Targeting the <16 delta short put in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market without actually being in the stock.
Here, just rounding out my fourth quarter positions at strikes better than what I currently have on.
November 17th 304: 3.07 credit
December 15th 290: 2.98 credit
Opening (IRA): IWM Nov/Dec 158/151 Short PutsComments: Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Generally, will take profit at 50% max, roll down and out for a credit if tested.
November 17th 158: 1.60 credit
December 15th 151: 1.51 credit
Opening (IRA): GDXJ October 20th 32 Short Puts... for a .72/contract credit.
Comments: One of the higher IV underlyings in my options liquid ETF screener at 34.4%. Going a little more aggressive here, selling the 25 delta strike.
Will generally look to take profit at 50% max and/or (a) roll down and out for a credit if tested; or (b) take assignment of shares and sell call against.
Opening (Margin): XOP September 15th 113/148 Short Strangle... for a 2.66 credit.
Comments: Short put for the IRA (See Post Below); short strangle for the margin.
Selling the 16 delta strikes on both sides. 2.66 credit on buying power effect of 12.98; 20.5% ROC at max; 10.3% at 50% max.
Opening (IRA): SPY November 17th 390 Short Put... for a 4.10 credit.
Comments: My weekly, broad market short put targeting the <16 delta strike paying around 1% of the strike price in credit.
As usual, will look to add in shorter duration should it start to pay more decently. Relatedly, I'm fine with taking assignment of shares and selling call against, but will attempt to stay in options as long as possible, rolling for strike improvement and a credit so long as that remains productive.
Opening (IRA): TLT December 15th 91 Short Put... for an .86 credit.
Comments: Laddering out at better strikes than I've got on currently, targeting the 16 delta strike, wherever that lies. I doubt the underlying goes this low, but if it does, I'm fine with taking assignment of shares and selling call against.
Opening (IRA): TLT November 17th 92 Short Put... for a .79 credit.
Comments: Hitting on some of those treasuries ... . Targeting the 16 delta strike. I'm fine with either getting assigned shares and proceeding to sell call against or taking the risk premium and going home.
Opening (IRA): IWM December 15th 167 Short Put... for a 1.74 credit.
Comments: Going ahead and rounding out my broad market fourth quarter rungs here with an eye to adding in shorter duration if we ever get higher IV.
Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Opening (IRA): XOP September 15th 110 Short Put... for a 1.11 credit.
Comments: Selling premium in one of the exchange-traded funds at the top of my IV screener with a 30-day at 32.2% -- more than twice that of the broad market. (The others are GDXJ, at 35.2%; GDX, 31.2%; and EWZ and FXI, both at 29.1%).
As with my broad market plays, targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit.
On a side note: My goals as primarily a premium seller are really simple: put on a given amount of theta/risk premium on a weekly basis, with my preference being for selling premium in (a) broad market exchange-traded funds; (b) sector exchange-traded funds; and (c) single name, in that order. Broad market is kind of sucking a bit here with SPY at 13.6% 30-day IV, QQQ at 20.0%, and IWM at 19.9%, so just looking for a little bit of extra "sumthin' sumthin'" to keep that theta pile on and burning.
Opening (IRA): TLT December 15th 94 Short Put... for a .89/contract credit.
Comments: Here, targeting the 16 delta strike in the 20 year+ paper exchange-traded fund to round out short put rungs in the third quarter.
I may continue adding rungs into 2024 if the underlying continues to hang around this level, since the Fed is supposedly forecast to cut rates at some point going forward.
Opening (IRA): IWM November 17th 170 Short Put... for a 1.74 credit.
Comments: My weekly IWM short put in the shortest duration contract where the <16 delta is paying around 1% of the strike price in credit to emulate dollar cost averaging into the market without actually being in stock.
The fact that I'm having to go out to November to do this is a testament to how crappy premium is at the moment, but will look to add in shorter duration should we get an uptick in volatility and/or weakness.
Opening (IRA): QQQ October 20th 325 Short Put... for a 3.25 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit which (ugh) is out in October.
This is admittedly not an ideal environment in which to sell broad market premium, but will look to add on weakness and in shorter duration if I get an opportunity to do so.
Opening (IRA): IWM October 20th 166 Short Put... for a 1.73 credit.
Comments: Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
As usual, will look to add in shorter duration and at lower strikes if we ever get an uptick in volatility at some point.
Opening (IRA): QQQ October 20th 319 Short Put... for a 3.27 credit.
Comments: Targeting the <16 delta short put in the shortest duration that's paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
