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Shortput

Rolling (IRA): SPY June 18th 329 Short Put to July 367... for a 2.88 credit. Notes: With only .84 of extrinsic left in the June 18th 329, rolling out to July to the strike paying at least 1% of the strike price (which is the 367, paying 3.71 at the moment). Total credits collected of 5.87 + 2.88 = 8.75 versus the 367 value of 3.71, so I've realized a gain of 5.04 ($504) on this so far. Ordinarily, I would just roll up intraexpiry with >45 days to go, but wanted to clean the ladder up a bit here and kick th can down the road a little bit in advance of summer vacation.
AMEX:SPY
by NaughtyPines
Rolling (IRA): SPY May 21st 381 Short Put to June 18th 389... for a 2.75 credit. Notes: Part of a longer-dated setup I started at the beginning of the year. With the 381 at >50% (See Post Below), rolling* out to June for a realized gain and a credit to the strike paying at least 1% of the strike price (i.e., the 389 is paying 4.05 at the moment). This naturally could be done in a more favorable volatility environment or on greater weakness, but looking at staying mechanical with this setup and bringing in credit versus waiting around for ideal volatility/weakness conditions. Total credits collected of 9.49 + 2.75 = 12.24. * -- Rolling involves buying back the option contract you sold and selling a new one either in the same expiry or a different one. (It's the inverse if you want to roll a long). You can do a roll as a two-step process (i.e., buy back the short put you previously sold and then sell a new one), but I generally opt for just doing it in one step.
AMEX:SPY
by NaughtyPines
Opening (IRA): IWM May 28th 200 Short Put... for a 2.15 credit. Notes: Opened this late in the day using my phone app, which I'm comfortable using to either open or close one-legged setups. Here, my standard 16 delta short put in the broad market exchange traded fund with the highest 30-day, which has been IWM for several weeks in a row. Here's my current short put ladder arrangement in IWM: the April 30th 207.5's, the May 7th 192.5's, the May 14th 205's, the May 21st 204's, and -- with this addition -- the May 28th 200's. As each rung approaches worthless, I'll roll out to the weekly nearest 45 days until expiry to the 16 delta strike, assuming that price stays remains wide of my strikes. If not, I'll either take assignment, sell calls against at the strike price I originally sold the put (i.e., establish a covered call) or roll the put out for additional credit, reducing cost basis from there until I'm able to be either called away (in the case of the covered call) or otherwise exit the setup profitably. Currently, the April 30th 207.5's worth 1.20; the May 7th 192.5, .49; the May 14th 205, 1.98; and the May 21st 204, 2.32. Were one of those contracts closer to worthless, I probably would have just rolled it out to the May 28th 16 strike for a credit, but decided to wait until more extrinsic leaks out of these before considering doing that. Naturally, opening a new unit or units costs buying power and increases risk, so I could have seen, for example, rolling the May 7th 192.5 out to the May 28th 200 for a credit, which would have brought in a credit, but kept the number of units the same while more modestly increasing buying power effect.
AMEX:IWM
by NaughtyPines
ROKU Short PutROKU is oversold and down 25% from the highs. While it is definitely overvalued both in its sector and tech in general, considering the growth prospect, it seems justified. It has found support on the 322 level. There is overhead resistance and the 61.8% fib line at $380. If it reverses there and continues to fall further, we have the 127% fib level at $277 followed support around $250 and lastly the 200 SMA at $242. Trade Idea: Short the 225 Put expiring 4/16 for at least $1.15 Credit. It has a very high 95% PoP but a relatively high BPE of $2250. In order for the Put to expire ITM, ROKU needs to tank 33% from the current level or over 52% from the ATH. This should not only allow you to buy into ROKU at a discount if you get assigned, but a 2 SD (95%) move is often accompanied by at least a small short term reversal as people buy the dip and average down. Regardless, this is a solid plan that offers you a 95% chance of keeping the $115 you collect in premium, and a 5% probability that you are assigned ROKU shares at a 50% discount from its highs.
NASDAQ:ROKU
by punitarani
1
Zillow(Z) Elliot Wave Completion and Short PutZillow took a massive dump over the last few weeks falling over 45% at its most and is currently still down 40% from its highs. It also completed all 5 legs of its downwards Elliot wave and is looking to reverse. Due to the increased volatility, its options premiums are pretty high right now too leading to our 2 main trade ideas. 1. Accumulate Shares around $125 for at least 140 and 155. 2. Naked Puts (56 Days out expiring 5/21): Short the 80 put for $1.10 which has a 89.5% POP and requires $800 BPE for a decent 13% ROC. For a more aggressive and bullish play, short the 90 put for $2.20 which has a 82.5% POP and requires $900 BPE for a better 24% ROC. With the 200 SMA support and also considering the 2SD move that Zillow has had over the last few weeks, it is highly unlikely (90% prob.) that Zillow will break below $80 within the next 56 days. If it does, it should be a great place to accumulate given the current stable fundamentals as it will be down over 60% from the highs.
NASDAQ:ZLong
by punitarani
3
Rolling (IRA): SPY May 21st 360 Short Put to the May 21st 381... for a 1.41 credit. Notes: With 45 days to go and more than half the extrinsic in the 360 shortie pissed out, rolling up to the 381 short put to lock in the realized gain. Naturally, this isn't ideal here, with 30-day having crushed into around 17.8% with the preference being to wait for weakness and higher volatility, but I'm opting to stay mechanical here, since this was intended as an "all weather" strategy (i.e., sometimes IV will be higher; sometimes it will be lower; you just take what the market gives you). Total credits collected of 9.49.
AMEX:SPY
by NaughtyPines
2
Rolling (IRA): SPY August 20th 250 Short Put to August 20th 300... for a 1.69/contract credit. Notes: Some more take profit rolling. Here, the August 20th 250 is approaching 50% max, so rolling it up to the strike paying at least 1% of the strike price, which is the 300 in the expiry (currently paying 3.01 at the mid). Realized gain of 1.30 or so ($130)/contract with total credits collected of 4.29/contract. On a more practical bent, I want to get everything rolled up, assess available buying power, and make a determination about whether I should hand sit for a bit here or deploy more.
AMEX:SPYLong
by NaughtyPines