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XUSS trade ideas

OPENING: X MAY 17TH 19 SHORT PUT... for a .49/contract credit. Metrics: Max Profit: $49 Buying Power Effect: ~$202/contract Break Even/Cost Basis If Assigned: $18.51/share Delta: 15.96 Theta: .74 Notes: Here, I'm just looking to deploy some buying power in one of the few underlyings with fairly decent implied volatility (42.4%) at a high probability of profit strike (the 16). I'm fine with taking on shares, but only want to do that at a discount over current price -- the 18.51/share cost basis represents a 20.4% discount over where it's currently trading. Will look to roll out as is at 50% max as long as that remains productive.
NYSE:XLong
by NaughtyPines
1
OPENING: X FEB 22ND/APRIL 18TH 18/22.5 UPWARD CALL DIAGONAL... for a 3.09/contract debit. Metrics: Max Loss/Buying Power Effect on Setup: $309 Max Profit on Setup: $141 Break Even on Setup: 21.09 vs. 20.71 spot Debit Paid to Spread Width Ratio: 68.7 Delta: 37.91 Theta: .61 Notes: The front month short doesn't pay for all of the extrinsic in the back month long (which is generally why you want your break even to be at or below spot), but I'm somewhat fine with that given the debit paid to spread width ratio. On a side note: I'm getting into quite a bit of long delta here, so will have to look for opportunities to add short delta, either on a per instrument basis or via a broad market short delta setup ... .
NYSE:XLong
by NaughtyPines
TRADE IDEA: X FEB/APR 15/19 UPWARD CALL DIAGONALMetrics: Max Profit on Setup: $108 Max Loss/Buying Power Effect on Setup: $292 Break Even vs. Spot: 17.92 vs. 18.25 Debit Paid to Spread Width Ratio: 73% Delta: 30.35 Theta: .82 Notes: With high implied volatility rank/30-day implied (82/67) and fairly long-term weakness, putting on some bullish assumption here without hanging a ton of buying power out there if it goes south with the flexibility to work the setup long-term as a cost basis reduction play or synthetic covered call with the option to exercise the back month long if things go my way. Other Possible Plays: Short Strangle/Straddle: Earnings are 31 days out, so you may want to consider straight nondirectional premium selling closer to the announcement instead: the February 15th 16/21 short strangle is currently paying 1.39 with a 50% max metric of .69; the 18 short straddle in the same cycle: 3.26 with a 25% max metric of .82. Iron Condor/Fly: The February 15th 13/16/20/23 is paying 1.15 (greater than one-third the width of the wings); the 13/18/18/23 fly, 2.73 (greater than one-fourth the width of the longs). Short Put: If you're into "wheeling" (short put, acquire, cover), the February 18 short put is paying 1.50 in the February cycle a cost basis of 16.50 if assigned on the 18's, an 8.3% discount over current price.
NYSE:XLong
by NaughtyPines