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Shortput

Opening (IRA): IWM December 23rd 156 Short Put... for a 1.67 credit. Comments: Targeting the <16 strike in the expiry nearest 45 days paying around 1% of the strike price in credit. This is more about not letting my IWM position get too short delta than about putting on an "ideal" premium selling trade. I still have an IWM short delta hedge on that is marking at around -60 delta (See Post Below) and had only one IWM short put rung on at the December 16th 164 (+23 delta at the moment), so the position was leaning more net delta short than I would like. This long delta additive trade will make my IWM position "net delta flatter."
AMEX:IWMLong
by NaughtyPines
Closed (IRA): IWM December 16th 145 Short Put... for a .76 debit. Comments: (Late Post). Collected a total of 2.11 in credits. (See Post Below). Out today for a .76 debit. 1.35 ($135) profit. This leaves me with two rungs -- the November 18th 163 (currently 14 delta) and the November 18th 173 (currently 33 delta), for a total of 44 long delta. Both of these are hedged off with a long put vertical in IWM (See Post Below), which is currently marking at -74 delta. I'll be rolling out the short leg of the diagonal tomorrow, which will decrease the short delta slightly, after which I will look to see whether I should add back in IWM long delta to make sure that I'm not too short/directional in this position. (33 long - 74 short = -41 delta). As part of this consideration, I also need to look at my portfolio delta as a whole to see whether it's okay to keep the IWM position net delta short, since it enjoys a close correlation with SPY (.95 3-month). Since it kind of drives me slightly bonkers to leave positions skewed out (regardless of whether they can do double duty as a closely correlated broad market hedge), I'll probably end up adding some long delta back in.
AMEX:IWM
by NaughtyPines
Closing (IRA): SPY Dec 16th 315/Jan 20th 280/Feb 17th 250... short puts. Comments: I closed out these legs individually, but am posting them here together to save time. The December 16th 315, opened for a 3.16 credit, closed for a 1.44 debit. 1.72 ($172) profit. (A standalone one-rung). The January 20th 280, opened for a 2.96 credit, closed for a 1.42 debit. 1.54 ($154) profit. (Part of a three rung short put ladder). The February 17th 250, opened for a 2.58 credit, closed for a 1.26 debit. 1.32 ($132) profit. (Part of a three rung short put ladder).
AMEX:SPY
by NaughtyPines