NIO Naked Put and StrangleShort the 25-strike put for $1.30 Credit. 75% POP and only $740 BPE for a decent 17.5% ROC.
Short the 25-55 Strangle for $2.10 Credit. About a 1SD Strangle and has a similar $740 BPE for a 28% ROC.
Shortput
Opening (IRA): SPY October 15th 270 Short Put ... for a 2.77/contract credit.
Notes: Part of a longer-dated strategy initially targeting the strike paying at least 1% of the strike price in credit. I haven't got anything out in October yet (199 days), so am selling there. Will roll to the 1%-paying strike at 50% max up to 45 days until expiry, after which I'll manage on approaching worthless or, if assigned, sell calls against my shares.
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.
Rolling (IRA): SPY Dec 17th 175 Short Put to Dec 17th 240... for a 1.52/contract credit.
Notes: With the December 17th 175 nearly at 50% max, rolling it up for a realized gain of around .90 ($90) to the strike paying around 1% of the strike price (the 240 is paying around 2.45 at the mid). Total credits collected of 1.81 (See Post Below) plus 1.52 or 3.33/contract. ROC at max now at 1.38% as a function of notional risk.
When I put this on at the end of last year, I fully expected to have to wait until about half way through the cycle (which would have been around some time in June) to get to 50% max, but we've had a combination of up grind plus a bit of volatility contraction that gave me an assist in reaching ~50% max earlier. Naturally, rolling up increases buying power effect, so you can naturally consider whether you should roll out instead (e.g., from the December 175 to the January 230 for instance, where the 230's paying 2.37), so that the resulting change in buying power effect is less.
Rolling (IRA): EWZ April 16th 29 Short Put to June 18th 28... for a .57/contract credit.
Notes: With the April 16th 29 only having .14 of extrinsic left in it, rolling out to the June 18th 28 strike for a realized gain of .43 ($43)/contract with 30-day at 43.9% and expiry-specific at 42.2%. I would've rolled out to May, but have 29's in that expiry. I get a credit, realize a gain, and reduce buying power effect all in one fell swoop.
Closing (IRA): MJ April 16th 18 Short Put... for .09/contract.
In for .63, (See Post Below), out for .09. .54 ($54) profit per contract. Still have May 21st 18s on.
Opening (IRA): IWM May 7th 192.5 Short Put... for a 2.53/contract credit.
Notes: My weekly, ~16 delta, 45 days until expiry short put in the broad market exchange-traded fund with the highest implied volatility . This one's only got 38 days left, but it's this or go out to the monthlies (52 days).
Opening (IRA): XBI May 21st 120 Short Put... for a 2.17/contract credit.
Notes: 30-day at >35% at 40.1%. Selling the 16 delta here. 1.84% ROC at max as a function of notional risk. As usual, will take profit on approaching worthless or, if in the money at expiry, take assignment and sell call against.
Opening (IRA): ICLN May 21st 20 Short Put... for a .53/contract credit.
Notes: 30-day implied at 48.8%. ROC 2.72% at max as a function of notional risk.
Opening (IRA): EWZ May 21st 29 Short Put... for a .57/contract credit.
Notes: Just banging through the underlyings at the top of my high IV list. EWZ's 30-day is at 54.07%. ROC at max 2.00% as a function of notional risk.
Opening (IRA): TAN May 21st 70 Short Put... for a 1.93/contract credit.
Notes: High 30-day at 61.5%. Not as liquid as I would like. In any event, 2.84% ROC at max as a function of notional risk.
Opening (IRA): MJ May 21st 18 Short Put... for a .48/contract credit.
Notes: High 30-day at 64.9%. Selling the 15 delta strike here. 2.74% ROC at max as a function of notional risk. Will take profit on approaching worthless or, if in the money, take assignment and sell call against.
Rolling (IRA): SPY September 17th 205 Short Put to the 275... for a 1.93 credit.
Notes: Another continuation of a longer-dated setup I started around the beginning of the year. (See Post Below). With 178 days to go and more than 50% of extrinsic gone, rolling this up to the 275 strike for a 1.93 credit. Total credits collected of 4.12 versus current short put value of 2.88; realized gain: 1.24 ($124).
Rolling (IRA): SPY May 21st 331 Short Put to May 21st 360... for a 1.87 credit.
Notes: Here, a continuation of a longer term play I established at the beginning of the year. (See Post Below). With the 331 at >50% max and >45 days to go, rolling up to the 360 strike (17 delta) for both a realized gain and a credit. Total credits collected of 8.08 versus current short put value of 3.60; total realized gain: 8.08 - 3.60 = 4.48 ($448).
Closing (IRA): EWZ March 31st 30 Short Put... for an .08/contract debit.
Notes: In for .60/contract (See Post Below); out for .08 with 8 days to go. .52 ($52)/contract profit.
Rolling (IRA): SPY April 16th 349 Short Put to April 30th 367.50... for a 2.16 credit.
Notes: Rather than adding more units, another take profit roll. Although there's .88 of extrinsic still left in this, locking in the realized gain via roll out to the April 30th 16 delta strike at the 367.50 for a 2.17 credit. Total credits collected of 9.07 versus current option value of 3.05 -- i.e., I've locked in 9.07 - 3.05 or 6.01 ($602) or profit so far.
Rolling (IRA): IWM April 1st 200 Short Put to April 30th 207.5... for a 2.28 credit.
Notes: With only .40 of extrinsic left and 16 days to go, rolling this out to around the 16 delta strike in the contract nearest 45 days until expiry for a realized gain of 2.40 ($240) (See Post Below) and a 2.29 credit. Total credits collected of 4.57.
OPENING (IRA): LIT MARCH 19TH 58 SHORT PUT... for a 1.16/contract credit.
Notes: 30-day at 58.6% and expiry-specific at 57.2%. Unfortunately, not the most liquid thing in the world, so expect to do some price discovery or be patient for a fill.
Opening (IRA): AAPL April 16th 107.5 Short Put... for a 1.99 credit.
Notes: With a 30-day implied of 42.8%, expiry-specific at 41.8%, and earnings in the rear view, adding some Dow component high implied underlyings to my wheelhouse. I already have some BA in my portfolio, which has the highest 30-day of Dow components that have already announced earnings, and pretty much have all the high implied exchange-traded-fund bases covered. ROC 1.89% at max as a function of notional risk. I went with the 19-delta 107.5 in lieu of the 105 (15 delta) or the nonstandard 106.25. A little more aggressive than I usually go, but wanted to get at least 1.5% ROC at max out of it.
Rolling (IRA): SPY July 16th 250 to July 16th 306 Short Put... for a 1.89 credit.
Notes: As with my June short put roll, a continuation of a longer-dated setup. Rolling up at 50% max to lock in the realized gain to the strike paying at least 1%. Total credits collected of 4.44.
Rolling (IRA): SPY June 18th 283 Short Put to the 329 Short Put.. for a 1.92 credit.
Notes: Here, a continuation of a longer-dated strategy I started at the beginning of the year, (See Post Below). With the 283 reaching 50% max, I'm rolling it up to the strike paying at least 1% for both a realized gain and a credit. Total credits collected of 5.87; ROC now 1.82% at max.
FXI Short Put (Wheel)Chinese large caps have tumbled over the last couple of weeks and seem to have found support on the rising trendline around $47. The FXI also has a weighted PE ratio of 12.64 which is less than half the SPY's 27. In simple words, you are getting a greater value per dollar in FXI than the SPY.
Trade Idea:
Cash-Secured Put: 45 Strike expiring 4/16 for $0.65 Credit. 75% PoP and $650 BPE for a 10% Max ROC.
Opening (IRA): QQQ April 30th 290 Short Put... for a 3.51 credit.
Notes: My weekly, 16 delta strike short put in broad market in the contract nearest 45 days until expiry. IWM implied is actually slightly higher here, but the Q's are weaker.
