Rolling (IRA): SPY May 20th 408 Short Put to July 15th 400... for a 3.62 credit.
Comments: Rolling down and out ... . Total credits collected of 7.75 (See Post Below) plus the 3.62 here for a total of 11.37.
Shortput
Rolling (IRA): QQQ May 20th 320 Short Put to July 15th 318... for a 2.90 credit.
Comments: Staying mechanical and rolling down and out for a credit. Total credits collected of 5.48 (See Post Below) plus the 2.90 here for a total of 8.38.
Rolling (IRA): IWM May 20th 180 Short Put to June 17th 179... for a 1.86 credit.
Comments: Not getting much strike improvement here, but collected 1% of the strike price in credit. Total credits collected of 1.90 (See Post Below) plus the 1.86 here, for a total of 3.76.
Opening: BITO June 17th 11/18 Short Put Vertical... for a .48/contract credit.
Comments: High IV with 30-day at 71%.
Unfortunately, I don't get any relief on margin for this particularly underlying, so am buying a cheap long put to bring in buying power effect from 17.46 for the naked 18 to 6.54 for the spread. Paying .07 for the long to bring buying power effect in by >60%.
ROC 7.3% at max as a function of buying power effect; 3.7% at 50% max.
Opening: EWZ June 17th Short Puts... for a .71/contract credit.
Comments: Taking a directional shot on weakness here and in high IVR/IV (92/46). .71/contract credit on buying power effect of 2.71; 26.2% ROC as a function of buying power effect at max; 13.1% at 50% max.
Opening: /ES June 17th 2400 Short Put... for a 3.35 credit.
Comments: Weak ... nessssss. Targeting the strike paying around 3.00 in credit (1.50/$150) max. 1.50 max on BPE of 16.53; 9.1% ROC as a function of buying power effect at max profit; 4.5% at 50% max.
Opening (IRA): QQQ June 24th 255 Short Put... for a 2.26 credit.
Comments: My weekly, broad market short put in the exchange-traded-fund with the highest 30 day IV, targeting the 45 DTE <16 delta strike paying around 1% of the strike price in credit.
Rolling (IRA): QQQ May 13th 325 Short Put to June 24th 321... for a 3.85 credit.
Comments: Total credits collected of 3.28 (See Post Below) plus the 3.85 here for a total of 7.13. Wasn't able to both improve the strike a ton here and receive a credit >1% of the strike price, but you do what you can do.
Opening: /ES June 3rd 2900 Short Put... for a 3.40 credit.
Comments: Back onto the roller coaster in the June 3rd expiry (29 days until expiry), selling the strike that is around 70% of where /ES is currently trading. The delta down here is so low that it doesn't make much sense to target a particular strike based on delta (e.g., the .01 delta strike).
As noted previously, this routes for 3.40, but max is only half of that or 1.70 ($170).
Closing: /ES June 3rd 2650 Short Put... for a .90 debit.
Comments: In for a 3.10 credit, (See Post Below); out for a .90 debit. Realized profit of one-half the difference (i.e., 2.20 divided by 2 or 1.10/$110).
Closing: /ES June 17th 2300 Short Put... for a 1.20 debit.
Comments: In for 3.00 (See Post Below), out for 1.20 here; one-half of the difference of 1.80 in profit (i.e., $90 profit).
Opening: /ES June 17th 2300 Short Put... for a 3.00 credit.
Comments: Running another rung as a small, dorky engagement trade while I wait on other stuff. Max profit of 1.50/$150 (half the credit it's routed for) on BPE of 20.62; 7.3% ROC at max; 3.6% ROC at 50% max.
Rolled (IRA): QQQ May 6th 318 Short Put to June 17th 302... for a 3.25 credit.
Comments: Rolled down and out for a credit, decreasing buying power effect, reducing cost basis, and lowering position long delta. Total credits collected of 7.20 (See Post Below) plus the 3.25 here for a total of 10.45.
I could've waited until zero day to do this, but don't like being in nail biters and having to deal with them at the last moment.
Opening: /ES June 3rd 2650 Short Put... for a 3.10 credit.
Comments: Running another of these. As pointed out previously, the options table shows this as worth 3.10, but your max is only half that or 1.55 ($155) on BPE of 19.88. 7.8% ROC at max; 3.9% at 50% max. A basic bet that we don't see 2650 in 35 days.
Opened (IRA): SPY July 17th 345 Short Put... for a 3.55 credit.
Comments: Adding some rungs in high IVR/IV, targeting the <16 delta strike paying at least 1% of the strike price in credit.
Opened (IRA): SPY June 17th 370 Short Put... for a 3.65 credit.
Comments: Layering some additional rungs on in this high IVR/high IV market. Selling the <16 short put paying at least 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Opened (IRA): QQQ June 17th 265 Short Put... for a 3.00 credit.
Comments: Filled toward the close, targeting the <16 delta strike in the expiry nearest 45 days until expiry paying at least 1% of the strike price in credit in the broad market exchange-traded fund with the highest 30-day IV.
Some of the rungs of this "ladder" are currently in the money, so can contemplate taking on shares/selling call against or rolling them out in time, but we'll deal with each rung in turn as we get to them.
Opened (IRA): QQQ June 17th 280 Short Put... for a 2.78 credit.
Comments: Targeting the <16 strike paying at least 1% of the strike price in credit in the broad market exchange-traded fund with the highest 30-day IV to emulate dollar cost averaging into the broad market. (And wasn't this green at the open?)
Rolled (IRA): IWM May 6th 185 Short Put to May 27th 183... for a 1.05 credit.
Comments: 50% max roll to the <16 delta strike in the expiry nearest 45 days that is paying around 1% of the strike price in credit. Total credits collected of 5.77 (See Post below) plus the 1.05 here for a total of 6.82 versus the 1.86 or so the 183 was paying, so I've realized gains of 4.96 ($496) so far.
The May 27th 16 delta is just barely paying 1%; otherwise, I probably would have done a "window dressing roll" from the 185 to the May 27th 175 for a small credit to milk the remaining extrinsic out of the option while reducing risk (since it's farther out-of-the-money) and buying power effect (since it would've been a lower strike).
Opened: /ES May 27th 3200 Short Put... for a 3.00 credit.
Comments: Rerunning the far out-of-the-money short put in /ES. 3.00 credit/1.50 max on buying power of 23.98. 6.3% ROC at max as a function of buying power effect; 3.1% at 50% max. As previously noted, it routes for a 3.00 credit, but its max is only half of that or 1.50 ($150). Will look to take profit at 50% max.
Closed: /ES May 20th 2850 Short Put... for a 1.00 debit.
Comments: Filled for a 2.00 credit (See Post Below); out here at 50% max. Ordinarily, this would be a 1.00 ($100) winner, but the way /ES works is that your max is half of the credit received -- in this case, one half of 2.00 is 1.00 ($100), so 50% max is .50 or $50.
Opened: /ES May 20th 2850 Short Put... for a 1.00 credit.
Comments: Just a little dorky way out-of-the-money short put engagement trade ... . 1.00 credit on buying power effect of 14.99; 6.7% at max as a function of buying power effect; 3.3% at 50% max.
Opening (IRA): SPY July 15th 370 Short Put... for a 4.00 credit.
Comments: Part of a longer-dated short put ladder strategy targeting the <16 delta strike paying at least 1% of the strike price in credit.
Portfolio net delta remains long, hedged off in part by a short delta SPY long put diagonal.
