NaughtyPines

NaughtyPines

... for a 90.47 debit. Comments: IVR/IV isn't fantastic here at 11.1/26.3%, but there is some IV skew to take advantage of on the call side -- 31.34% at the 92 call relative to 26.62% at the 92 put. Selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put to take advantage of the IV skew and the built-in defense of the...

NaughtyPines Updated 

... for a 1.01 credit. Comments: Adding to my TAN position at a strike/break even better than what I currently have on. Here, going Plain Jane short put, since there isn't a great advantage to going monied covered call here because the IV skew isn't between the call and put sides isn't significant. Metrics: Buying Power Effect/Break Even: 31.99 Max Profit:...

NaughtyPines Updated 

... for a 35.29 debit. Comments: Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 35.29/share Max Profit: .71 ROC at Max: 2.01% 50% Max: .36 ROC at 50% Max: 1.00% That 1.00% ROC at 50% max is kind of "marginal," but just...

NaughtyPines Updated 

... for a 221.96 debit. Comments: Selling the -85 call against stock to emulate the delta metrics of a 15 delta short put with the built-in defense of the short call. Here, primarily just looking to capture the next little increment of up move I missed out on with my 220 covered call. Metrics: Buying Power Effect/Break Even: 221.96 Max Profit: 3.04 ROC at...

NaughtyPines Updated 

... for a 71.29 debit. Comments: Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. I'm looking at this as a starter position because I kind of have a feeling that I'm going to regret not putting this on in weakness/higher IV and will be adding at better strikes/break evens (only...

NaughtyPines Updated 

... for a 421.94 debit. Comments: As with my IWM covered call, re-upping in QQQ at a strike higher than the one I just took off in an attempt to capture the next increment of the up move that I missed out on. I'm not expecting a ton out of this (the max is 3.06), but that's okay, since I'm not yet ready to go all the way out to January yet anyhow.

NaughtyPines Updated 

... for a 66.48 debit. Comments: Back into the slippery stuff with /CL trading at 70.48. Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. My basic approach here is to dink and donk on the underlying when /CL is at $70/bbl. or below. Metrics: Break Even/Buying Power...

NaughtyPines Updated 

... for a 86.84 debit. Comments: High IVR at 74.8% plus weakness. Looking to grab both the November 1st and December 1st dividends here while I twiddle my thumbs waiting for the general election to pass, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short...

NaughtyPines Updated 

... for a 501.71 debit. Comments: Re-upping at a higher strike than the one I just took off, looking to capture an additional little increment of upmove that I missed out on. If you wanted to be really anal about it, you could capture all of the up move over time (or capture the same increment more than once). For example, say I just took off the November 15th...

NaughtyPines Updated 

... for a 193.79 debit. Comments: Re-upping with a monied covered call in the December 20th expiry at a strike that is slightly higher than the one I just took off to "capture" the next little increment of up move that I missed out on. I'm not expecting much out of this (it has a 1.21 max), but didn't want to set up my tent in January yet either.

NaughtyPines Updated 

... for a 61.79 debit. Comments: Adding a "rung" at a break even better than what I currently have on, selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 61.79/share Max Profit: 3.21 ($321) ROC at Max: 5.20% 50% Max: 1.62...

NaughtyPines Updated 

... for a 32.69 debit. Comments: High IVR/IV at 115.8/57.1. Adding a rung out in December to my position at a break even better than what I currently have on. (See Post Below). Selling the -75 delta call against stock to emulate a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 32.69 Max Profit:...

NaughtyPines Updated 

... for a 2.67 credit. Comments: High IVR/IV at 74.1/91.5. Going low delta with the short option legs and narrower than usual with the wings. Metrics: Max Profit: 2.67 Buying Power Effect: 7.33 ROC at Max: 36.4% 50% Max: 1.34 ROC at 50% Max: 18.2% Will generally look to take profit at 50% max; roll in untested side on side test.

NaughtyPines Updated 

... for a 64.74 debit. Comments: Adding at strikes/break evens than what I currently have on ... . Selling the -75 call against long stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 64.74 Max Profit: 1.26 ROC at Max: 1.95% 50% Max: .63 ROC at 50% Max:...

NaughtyPines Updated 

... for a 33.28 debit. Comments: Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Adding at strikes/break evens better than what I currently have on. This puppy also happens to have a dividend on offer in December, but is quite variant:...

NaughtyPines Updated 

... for a 27.55 debit. Comments: Not the weakness I was looking for, but setting myself up to grab the early June dividend. Generally, I'll look to roll out the short call at 50% max ... .

NaughtyPines Updated 

... for a 6.03 credit. Comments: High IV at 95.8%. Here, going delta neutral, 1/10th the price of the underlying for my wing width, and setting up my short option strikes at the 16 delta on both sides. Metrics: Max Profit: 6.03 Buying Power Effect: 23.97 ROC at Max: 25.16% 50% Max: 3.02 ROC at 50% Max: 12.58% Will generally look to take profit at 50% max;...

NaughtyPines Updated 

... for a 497.51 debit. Comments: Re-upping at a strike that is a smidge higher than what I just took profit on, looking to eek out just a smidge more out of November without taking on a huge amount of additional risk ... . Buying Power Effect/Break Even: 497.51 Max Profit: 3.49 ROC at Max: .70% 50% Max: 1.75 ROC at 50% Max: .35%