Closing (IRA): IWM January 21st 188 Short Put... for a 1.37 debit.
Comments: Filled this for a 3.20 ($320) credit in Friday's weakness/high implied. (See Post Below). Out today for greater than 50% max with 44 days to go. 1.83 ($183) profit.
Shortput
Rolling (IRA): SPY February 18th 335 to 362... for a 1.21 credit.
Comments: Adjusting a rung of my longer-dated premium-selling strategy in SPY* to lock in realized gains and take advantage of this higher volatility environment. I've collected a total of 18.03 (See Post Below) + 1.21 or 19.24 with rolls with this contract relative to a current short put value of 3.66, so have realized gains of 19.24 - 3.66 or 15.58 ($1558) so far.
Will generally look to roll at 50% max.
* -- The basic strategy is to sell the shortest duration premium in SPY at 16 delta or less that is paying at least 1% of the strike price in credit and to roll intraexpiry (as I did here) or from month to month at 50% max (i.e., when the short put reaches 50% profit).
Opening (IRA): IWM January 21st 188 Short Put... for a 3.20 credit.
Comments: Selling 16 delta premium in the broad market exchange-traded fund with the highest 30-day, which is IWM, at 41.5%. I wanted to use the January 14th expiry (42 days until expiry), but the lowest strike available there was the 193, so went out to the monthly instead.
Opening (IRA): SPY January 21st 408 Short Put... for a 4.20 credit.
Comments: Turning my attention to my IRA, where I'm back to selling broad market premium. Here, selling premium in SPY in the January cycle, targeting the strike paying at least 1% of the strike price in credit, which was the 408.
I'll continue to sell premium in 45 days' duration, as long as it's still paying at least 1% of the strike price at strikes <16 delta. Otherwise, I'll go out longer-dated.
Rolling (IRA): SPY January 21st 397 to April 14th 360... for a 1.95 credit.
Comments: Cleaning up my longer-dated SPY strategy short put ladder a little bit here while I wait to start putting on other positions in 2022 expiries. The January 21st 397 is at greater than 50% max, so rolling it out to the April strike paying at least 1% of the strike value in credit instead of adding units. I've collected a total of 8.17 + 1.95 with rolls so far for a total of 10.12 relative to the April 14th 360 short put value of 3.79, so have realized gains of 6.33 ($633) to date.
Closing (IRA): SPY December 31st 361 Short Put... for a .47 debit.
Comments: Plain Jane profit-taking here. Rolled this a few times, collecting a total of 8.59 in credits. (See Post Below). Closing this out here results in total realized gains of 8.12 ($812).
Rolling (Margin): EWZ December 17th 25 Short Put to January 21st... for a .32/contract credit.
Comments: Rolling here at greater than 50% max for a realized gain and a credit while keeping buying power effect essentially the same, since I'm rolling this "as is" (i.e., from the December 25 strike to the January 25 strike). I originally collected .58 in credit/contract (See Post Below), so have collected a total of .90 ($90)/contract with this roll relative to a current short put value of .57, so have locked in .37 ($37) of realized gains so far. 30-day implied is still pretty decent at 41.3%; otherwise, I'd probably just leave it alone running into expiry.
Rolling: KWEB December 17th to January 19th 43 Short Put... for a .56/contract credit.
Comments: Rolling out at >50% max here for a realized gain and a credit and without taking on additional risk. I originally filled this a 1.04/contract credit (See Post Below), so have collected a total of 1.56 relative to a short put value of 1.04 (i.e., realized gains of 1.56 -1.04 = .54/$54).
Implied remains relatively decent here at a 30-day of 45.4%. If it had dropped below 35%, I'd probably just take profit and move on.
Rolling (IRA): SPY December 17th 388 to January 422 Short Put... for a 3.60 credit.
Comments: Part of a longer-dated strategy. With the December 17th 388 way past 50% max (it's currently valued at .67), rolling it up and out to the January strike paying at least 1% of the strike price in credit. I've collected a total of 15.40 (See Post Below) plus the 3.60 here for a total of 19.00 relative to the January 422 short put value of 4.25, so have realized gains of 14.75 ($1475) so far.
Closing (IRA): EWZ November 19th 28 Short Puts... for a .04/contract debit.
Comments: In for .51/contract (See Post Below), out for .04 here. .47 ($47) profit per contract.
Opened (Margin): KWEB December 17th 43 Short Put... for a 1.04 credit/contract.
Comments: 30-day at 45.4% and at or near a 52-week low. Sold around the 20 delta here and will look to take this particular trade off on approaching worthless. 8.9% ROC at max as a function of buying power effect.
Closing (IRA): SPY November 26th 401 Short Put... for a .22 debit.
Comments: Was hoping for an uptick in volatility plus weakness at some point so that I could roll this out in a higher implied environment and/or weakness, but didn't get it, so am just Plain Jane profit-taking instead. Collected a total of 12.36 in rolls (See Post Below). Closing out here results in realized gains to date of 12.14 ($1214).
Closing (IRA): IWM November 19th 204 Short Put... for a .10 debit.
Comments: In for 1.87 (See Post Below); out for .10 here. 1.77 ($177) profit.
Closing (IRA): ARKK November 19th 104 Short Puts... for a .22/contract debit.
Comments: Collected a total of 5.02 in credits (See Post Below); out here for .22. 4.80 ($480) profit/contract.
Opening: EWZ December 17th 25 Short Put... for a .58/contract credit.
Comments: With 30-day implied at 38.6% (i.e., >35), opening up some more EWZ in the margin account.
On margin: .58 on buying power effect of 2.52, 23.0% ROC at max as a function of buying power effect. Cash secured: .58 on notional risk of 24.42; 2.4% ROC as a function of notional risk.
Closing (IRA): XBI November 19th 110 Short Puts... for a .13/contract debit.
Comments: Opened these for 1.71 credit/contract. (See Post Below). Closing here for .13 results in a realized gain of 1.58 ($158) per contract. Although this remains somewhat weak here, implied volatility isn't the greatest at around 28%, so decided not to roll it out; my preference is for weakness plus implied volatility in >35% in exchange-traded funds to take bullish assumption shots.
Closing (IRA): ARKK November 19th 100 Short Put... for a .26 debit.
Comments: In for 2.09 (See Post Below), out for .26 here, 1.83 ($183) profit.
Rolling (IRA): SPY December 17th 376 Short Put to December 31st361 Short Put ... for a .04 credit.
Comments: Another window dressing trade where I want to reduce risk temporarily in this low volatility environment, while locking in realized gains. Here, I've collected 8.59 in credits with rolls (See Post Below) relative to a short put price for the 361 of 1.06, so have realized gains of 7.53 ($753) so far. Will look to take this off on approaching worthless if we don't get a bump in volatility running into expiry.
Rolling (IRA): SPY November 19th 409 Short Put to November 26th401 Short Put for a .05 credit.
Comments: A little "window dressing" roll to lock in the realized gains of the 409 short put, while simultaneously reducing risk. I've collected 12.36 in credits via rolls with this so far, (See Post Below), relative to a current short put value for the November 26th 401 of .92, so I've locked in 12.36 - .92 or 11.44 ($1144) of gains so far.
I'd ordinarily just roll this out for duration, but would prefer a higher implied volatility environment to do that, so will look to take this off on approaching worthless if we don't get a volatility bump between now and expiry.
Closing (IRA): IWM November 12th 197 Short Put... for a .20 debit.
Comments: In for 2.13 (See Post Below); out for .20 here. 1.93 ($193) profit.
Closing (IRA): IWM November 5th 203 Short Put... for a .15 debit.
Comments: Opened for a 1.93 credit (See Post Below); closing here for .15; 1.78 ($178) profit.
Rolling (IRA): SPY January 21st 328 to 397 Short Put... for a 3.02 credit.
Comments: More clean-up of my longer-dated SPY premium-selling setup ... . Here, rolling the January 21st 328 up intraexpiry to the strike paying at least 1% in credit. Total credits collected of 5.15 + 3.02 = 8.17 relative to the 397 short put value of 4.04, so I've locked in gains of 8.17 - 4.04 or 4.13 ($413) so far.
Rolling (IRA): SPY November 19th 401 to March 18th 348 Short Put... for a 2.76 credit.
Comments: With only .72 of extrinsic left in the November 19th 401, cleaning up my longer-dated premium selling strategy in SPY by rolling out to the March 348 -- the strike that's paying at least 1% of the strike in credit. I've collected 13.31 (See Post Below) + 2.76 with this roll for a total of 16.07 so far relative to a value for the 348 of 3.49, so I've realized gains of 16.07 - 3.49 or 12.58 ($1258). Ordinarily, I would've just rolled it out a month, but the 16 delta strike in December is paying <1% of the strike price, so opted to "leap frog" this over short puts I already have on in the December, January, and February monthlies.
