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Shortput

Opening (IRA): TSLA September 15th 155 Short Put... for a 1.61 credit. Comments: Adding on weakness here, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the underlying without actually being in the stock. I would've used the August monthly, but already have a rung on there at the 175 strike. One of the highest IV options liquid single name on my board at 67.8%. (The two higher ones are NIO -- trading at 8.51/share and SNAP, trading at 11.24).
NASDAQ:TSLALong
by NaughtyPines
Opening (IRA): NFLX August 18th 345 Short Put... for a 3.75 credit. Comments: 30-day IV of 47.9%. Selling premium in some high IV single name, with the caveat that earnings are on July 19th, so I'll be "playing through" and (continuing with the golfing theme) hoping to clear the water hazard. As with my broad market short puts, targeting the <16 delta strike paying around 1% of the strike price in credit, giving me room to be wrong. I'm primarily doing this because broad market IV isn't exactly great here: IWM, 19.9%; QQQ, 19.5%, SPY, 13.0%.
NASDAQ:NFLXLong
by NaughtyPines
Opening (IRA): TLT November 17th 94 Short Put... for a .75 credit. Comments: Continuing to build out rungs in 20-year plus maturity paper, targeting the 16 delta strike to emulate an equities/bond mix in my portfolio using short puts, particularly since TLT 30-day is actually greater than that in SPY (15.1% for the former; 13.0% for the latter). As usual, I'm fine with taking assignment of shares at this level and then proceeding to "cover" (i.e., sell call against) if that happens.
NASDAQ:TLTLong
by NaughtyPines
Opening (IRA): IWM September 15th 146 Short Put... for a 1.46 credit. Comments: Re-establishing a September rung after scratching out a higher strike trade yesterday, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. The shortest duration trades in which the <16 delta strike is paying around 1% in credit: IWM: August (at the 154 strike, paying 1.58) QQQ: August (at the 296 strike, paying 2.99) SPY: September (at the 367 strike, paying 3.70).
AMEX:IWMLong
by NaughtyPines
Opening (Margin): /ES September 29th 2100 Short Put... for a 3.00 credit. Comments: Targeting the strike that is 50% of current price that is paying around 3.00 in credit. 1.50/$150 max (due to the multiplier) on buying power of 9.23/$923; 16.3% ROC as a function of buying power at max; 8.1% at 50% max. A basic bet that we don't see 2100 by the end of September in the S&P 500; alternatively, a bet that my order to close this will hit 50% max before then. Naturally, if we get higher volatility and weakness, I'll look to add in shorter duration/better strikes.
CME_MINI:ES1!Long
by NaughtyPines
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