Opening (IRA): TAN August 16th 37 Short Put
Updated
... for a .93 credit.
Comments: High IVR/IV at 51/44. Adding a short put in the vicinity of the 25 delta strike on weakness to my covered call, which has a 37.86 break even. (See Post Below).
Metrics:
Break Even/Buying Power Effect: 36.03
Max Profit: .93 ($93)
ROC at Max: 2.44%
ROC at 50% Max: 1.22%
Will generally look to take profit at 50% max; roll for credit and duration if the TP doesn't hit.
Comments: High IVR/IV at 51/44. Adding a short put in the vicinity of the 25 delta strike on weakness to my covered call, which has a 37.86 break even. (See Post Below).
Metrics:
Break Even/Buying Power Effect: 36.03
Max Profit: .93 ($93)
ROC at Max: 2.44%
ROC at 50% Max: 1.22%
Will generally look to take profit at 50% max; roll for credit and duration if the TP doesn't hit.
Trade closed: target reached
Hit 50% max, closing for a .46 debit. .47 ($47) profit/contract; 1.30% ROC.
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