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Shortput

Opening (IRA): SPY December 15th 403 Short Put... for a 4.07 credit. Comments: My weekly broad market short put in the shortest duration contract where the <16 delta is paying around 1% of the strike price in credit to emulate dollar cost averaging into the market without actually being in stock. My basic options here are (a) do nothing, waiting for higher IV to sell premium; (b) continue to sell premium in shorter duration, but at strikes that are closer to at-the-money; (c) continue to sell premium in shorter duration, but at given delta strikes; or (d) scrounge around in the market for premium in other exchange-traded funds or single name that aren't so "weak sauce." I'm opting for (a) here, but may also scrounge around ... . Examples: Shorter Duration, But Closer to At-The-Money: SPY September 1st (42 Days Until Expiry) 447.5 (38 delta), 4.48 credit (around 1% of strike price in credit). Shorter Duration, But at a Given Delta: SPY September 1st (42 Days Until Expiry) 436 (20 delta), 2.34 credit (around .54% of strike price in credit).
AMEX:SPYLong
by NaughtyPines
Opening (IRA): XBI October 20th 76 Short PutComments: Looking to sell the around the 30 delta here in the October monthly, which is more aggressive than I usually go, but am fine with taking assignment, selling call against if it comes to that. Currently, the strike is bid 1.45/ask 1.65 with a 1.55 mid, so will look to get a fill "in that neighborhood." Just looking for some "engagement" in this broad market, low IV environment with my standard go-to's (IWM, QQQ, SPY) at 17.8%, 18.8%, and (ugh) 13.6%, respectively for their 30-days.
AMEX:XBILong
by NaughtyPines