Get started

Shortput

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.
NASDAQ:QQQLong
by NaughtyPines
Rolled (IRA): QQQ September 16th 278 Short Put to October 21st... 268 short put for a 1.23 credit. Comments: This wasn't quite at 50% max yet, but thought I'd take the opportunity to do some housekeeping since I could realize a gain, strike improve, and receive a credit here by rolling for duration. Total credits collected of 14.09 (See Post Below) plus the 1.23 here for a total of 15.32 relative to a price of around 2.83 for the October 21st 268, so I've realized gains of 12.49 ($1249) so far.
NASDAQ:QQQLong
by NaughtyPines
Rolling (IRA): QQQ August 26th 316 Short Put to October 300... for a 1.08 credit. Comments: (Late Post). Been rolling this for a while. Total credits collected of 9.38 (See Post Below) plus the 1.08 here for a total of 10.46. I would rather stay in an options contract versus taking on stock, since you can strike improve an option. Another lesson here is that you'll find it easier to roll for more substantial strike improvement if your option is less monied. Consequently, I took the opportunity to roll here with QQQ price whipping up (at one point in Friday's session) -- to 316.39. Naturally, this doesn't mean that the 300 will expire worthless or otherwise be profitable; it does mean, however, that my cost basis will be lower than it was with the strike at the 316.
NASDAQ:QQQLong
by NaughtyPines