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Shortputvertical

Opened (Small Account): SPRT October 15th 3/8 SPV*... for a 1.04 credit. Metrics: Max Profit: $104 Max Loss/Buying Power Effect: $396 Return on Capital at Max Profit as a Function of Buying Power Effect: 26.3% Return on Capital at 50% of Max Profit as a Function of Buying Power Effect: 13.1% Break Even: 6.96 Comments: Went with farther out-of-the-money strikes than posted in my Trade Idea (See Post Below). Not that the 10 strike was "bad"; I just wanted more room to be wrong. Generally, will look to take profit at 50% max. * -- Short Put Vertical.
SLong
by NaughtyPines
2
Opening (Small Account): SPY October 15th 426/431 SPV*... for a .52/contract credit. Comments: Although implied isn't ideal here (>20 is better), throwing some caution to the wind and selling a five wide at the strikes paying at least 10% of the width of the spread in credit. This ends up with me selling the 21 delta and buying the 18, which is a little bit more aggressive than I usually like to go, but selling the 16 and buying the 13 isn't only paying .40, so taking a smidge of more risk here. Generally, will look to take profit at 50% max. * -- Short put vertical.
AMEX:SPY
by NaughtyPines
Closed (Small Account): SPY September 30th 409/414 SPV*... for a .26 debit. Comments: In for a .53 credit (See Post Below); out here at 50% max via a good until cancelled order. .27 ($27) profit/6% ROC with 34 days to go. Still have the October 15th 408/413 on. With SPY 30-day at 16.1%, I'll probably wait until another VIX>20 print before adding. With these small accounts, you don't have a ton of cash to play with, so you want to be a little more selective with your entries. Month Beginning Net Liquidity: 2359.23 Current Net Liquidity: 2564.28 Minus Additions: -100.00 Net Liquidity Excluding Additions: 2464.28 Month to Date Gain: 4.45% Year to Date Gain: 8.34% * -- Short Put Vertical.
AMEX:SPY
by NaughtyPines
Opened (Small Account): SPY September 30th 409/414 SPV*... for a .53 credit. Comments: A late post. Added some in the morning, got weaker, so added some in the afternoon as well (at 12:22:26). The basic strategy here is to emulate dollar cost averaging into the broad market with more room to be wrong, albeit with the twist being that you generally want to do it in higher implied volatility environments/on weakness. Generally, will look to take profit at 50% max. * -- Short put vertical; also known as a "bull put spread," since it's a put spread that's neutral to bullish assumption.
AMEX:SPY
by NaughtyPines