OPENING (IRA): SPY FEBRUARY 19TH 324 SHORT PUT
Updated
... for a 3.30 credit.
Notes: Here, starting to build out a medium to longer-term laddered short put setup in SPY in the IRA, targeting the strike paying at least 1% in credit of the strike price. I'll look to roll these up intraexpiry at 50% max with >45 days until expiry and am fine with taking assignment and then selling call against. Cost basis here is 324 - 3.30 or 320.70.
For smaller accounts, consider doing this in XLK (currently 129.51) or EFA (currently 71.45).
Notes: Here, starting to build out a medium to longer-term laddered short put setup in SPY in the IRA, targeting the strike paying at least 1% in credit of the strike price. I'll look to roll these up intraexpiry at 50% max with >45 days until expiry and am fine with taking assignment and then selling call against. Cost basis here is 324 - 3.30 or 320.70.
For smaller accounts, consider doing this in XLK (currently 129.51) or EFA (currently 71.45).
Trade active
With > 45 DTE, rolling the 324 up to lock in 1.20 or so of realized gain to the February 19th 338 (16 delta) for a 1.12 credit. Total credits collected of 4.42.Trade closed manually
And ... closed today for a .15 debit. 4.27 ($427 profit), 1.28% ROC as a function of notional risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.