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Shortput

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
$WBA 11DTE SHORT PUT 10% profit target #WBA #options10% TP for my cap in 10 days? It's good.... Any kind of naked PUTs on big instrument are my favorite at high IVR with divergence. My choice for today: Walgreens Boots Alliance Inc. Reasons: - RSI is already oversold with big divergence - breakeven point is little close, but allowed loss ($50 max) is manageable SETUP: NAKED PUT for NASDAQ:WBA , because IVR is high, for 0.7cr * Sell 2 NASDAQ:WBA OCT13 '22 PUT Max profit: $152 Probability of 50%Profit: 72% (TP: $95) Profit Target relative to my Buying Power: 10% Req. Buy Power: $1035 (max loss without management before expiry, no way to let this happen!) Tasty IVR: 84 (very high) Expiry: 11 days SOLD OCT13'22PUT @ 0.76cr
NASDAQ:WBALong
by TanukiTrade
Opening (IRA): SPY January 19th 375 Short Put... for a 3.76 credit. Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Going out to January here, because I already have quite a few rungs on in the Nov and Dec monthlies, as well as the Dec 29th. I may still try to squeeze some rungs in November and December if that turns out to be productive and/or at better strikes than I currently have on.
AMEX:SPYLong
by NaughtyPines
Opening (IRA): IWM December 29th 155 Short Put... for a 1.56 credit. Comments: Rounding out rungs in the last of the available expiries in the 4th quarter, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market using short puts. If I had nothing on in IWM, I'd probably go shorter duration (e.g., November 17th) where the 165 is paying 1.75 at the moment; I already have a rung at that strike, so am going out farther in duration to keep theta on and burning. The same would probably go for my Friday stuff in the Q's and in SPY.
AMEX:IWM
by NaughtyPines
Opening (IRA): TLT October 27th 91 Short Put... for a .96 credit. Comments: Adding on weakness, targeting the strike paying around 1% of the strike price in credit in the contract nearest 45 days duration. This is more aggressive than I usually do, since it's at the 30 delta, but I'm looking to pick up shares at or around these lows if at all possible. Because of this, I'll look to run these right up until expiry and/or take them off for "approaching worthless"; I immediately stuck an order in to close it if it gets to .05. If I get assigned, I'll look to cover with short call.
NASDAQ:TLTLong
by NaughtyPines
Opening (IRA): IWM Jan 19th 157 Short Put... for a 1.58 credit. Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. As I mentioned in my earlier post (See Below), shorter duration is probably paying, but I already have rungs on in the Nov 17th, Dec 15th, and Dec 29th expiries, so going out to 2024 here. Naturally, I'll sell in shorter duration if I can get in at strikes better than what I currently have on.
AMEX:IWMLong
by NaughtyPines
Opening (IRA): QQQ December 29th 297 Short Put... for a 3.00 credit. Comments: Rounding out fourth quarter rungs in the Q's here, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Shorter duration (i.e., November) is actually paying at or below the 16 delta strike, but already have rungs camped out there (although I still may squeeze some in there in the weeks ahead if it's productive). Will start to look to peel off shorter duration rungs as I come to them, although I only have a couple of October rungs left, with the majority being out in November and December.
NASDAQ:QQQLong
by NaughtyPines
Opening (IRA): SMH November 17th 122.5 Short Put... for a 1.34 credit. Comments: Adding a rung out in the November monthly so that my October rung doesn't look so lonely ... . It's actually because SMH 30-day IV is still fairly decent at 31.6%; the only options liquid ETF's with better IV are GDXJ (35.2%) and FXI (32.0%). Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semiconductor exchange-traded fund.
NASDAQ:SMHLong
by NaughtyPines