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Shortput

Opening (IRA): SMH August 19th 175 Short Put... for a 1.76 credit. Comments: Targeting the <16 delta strike in the August monthly (53 DTE) paying around 1% of the strike price in credit. Adding a smidge of long delta back into my portfolio to keep my net delta happy using an ETF that is closely correlated with the broad market (SPY 3-month correlation of .92) instead of cluttering up my IWM, QQQ, and SPY short put ladders further. Other ETF's to do this with: XLK (.97 3-month correlation), EFA (.90).
NASDAQ:SMHLong
by NaughtyPines
1
Rolling (IRA): SPY July 15th 370 Short Put to August 19th 347... for a .75 credit. Comments: Doing a little early housekeeping where I can running into the July 4th weekend ... . Rolling for a realized gain to the <16 delta strike in the expiry nearest 45 days paying around 1% of the strike price in credit. Collected 3.65 (See Post Below) plus the .75 here for a total of 4.40 relative to an August 19th 347 short put value of 3.53, so I've realized gains of around .87 ($87) so far.
AMEX:SPYLong
by NaughtyPines
Closed: /ES July 15th 2960 Short Put... for a 1.50 debit. Comments: Filled for a 3.00 credit (See Post Below). Out on Friday at 50% max. (3.00 - 1.50)/2 = .75 ($75) profit. Although still quite far out of the money, this was the highest rung of my /ES short put ladder, so wanted to dry the powder out for a potential dip going forward. Still have rungs on in the July 29th expiry (2850, 2700, 2500), as well in the August monthly (2100), so I was okay with taking off a little bit of risk here.
CME_MINI:ES1!
by NaughtyPines
Rolling (IRA): QQQ July 1st 301 to August 19th 292... for a 2.93 credit. Comments: Rolling down and out to the August monthly, as the August 5th contract didn't seem all that liquid. Total credits collected of 6.50 (See Post Below) plus the 2.93 here for a total of 9.43. I'll generally keep on doing this (down and out) with any of my monied rungs until I can't get decent (a relative term) strike improvement, along with a decent credit, at which point I'll just take assignment and proceed to sell call against. (See, e.g., my QQQ June 24th 321 short put, which I couldn't strike improve to my satisfaction without going out hugely long-dated).
NASDAQ:QQQ
by NaughtyPines
Rolled (IRA): SPY June 30th 383 to September 16th 365... for a 3.66 credit. Comments: (Late Post). With only .36 worth of extrinsic left in the June 30th 383 (and a scant 9 days to go), rolling it down and out here to the strike that's paying me about 1% of the strike price to roll. Total credits collected of 8.51 (See Post Below) plus the 3.66 here, for a total of 12.17. This is longer-dated than most like to go, but I'm generally fine with that in the retirement account, particularly since the roll reduces buying power effect, risk of assignment, delta, and cost basis. I still may naturally have to take assignment of shares, but it will be at 365 (minus credits received) instead of at 383 (minus credits received).
AMEX:SPYLong
by NaughtyPines
Opening: /ES August 19th 2100 Short Put... for a 3.50 credit. Comments: A small, low risk engagement trade while I wait on trades ... . Targeting the strike that is at least 25% below where /ES is currently trading and that routes for around 3.00. 1.75 max* on buying power of around 20.58, 8.58% ROC at max. * -- It's only 1.75 max because /ES -- unlike SPY -- has a 50x multiplier (instead of a 100x multiplier) so if your options table, for example, says that the trade is going to route for a 10.00 credit, it actually only ends up routing for half of that or 5.00.
CME_MINI:ES1!Long
by NaughtyPines
Opening (IRA): QQQ July 29th 230 Short Put... for a 2.54 credit. Comments: Targeting the <16 delta strike in the expiry nearest 45 days paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Will pause a bit here with additive long delta trades to focus on the housekeeping of shorter duration rungs. I will want to see what I want to (or have to) take assignment of shares on, since this will affect net portfolio delta and inform how much short delta I need to have on to remain "delta comfortable." Covered calls, after all, are more long delta heavy than far out-of-the-money short puts.
NASDAQ:QQQLong
by NaughtyPines
16