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Shortput

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
Opened (IRA): QQQ September 2nd 270 Short Put... for a 2.82 credit. Comments: Targeting the <16 strike in the shortest duration that is paying around 1% of the strike price in credit in this weakness and comparatively higher IV. As with the IWM short put I put on, this is more of a trade to add back in shorter duration long delta that I stripped off than a "this is a perfect spot to sell a put" sort of trade. I'll look to add at intervals, weakness, and in higher IV, and am fine with taking assignment of shares/selling call against if the market forces me to do that.
NASDAQ:QQQLong
by NaughtyPines