Opening (IRA): TLT October 18th 84 Short Put
Updated
... for a .98 credit.
Comments: Laddering out at intervals at strikes between 85 and 82, assuming they're paying.
This is naturally longer-dated than most will want to go, but is part of a TLT position made up of covered calls (stock + short call) and short puts, so that I'm getting paid for (a) short call premium; (b) dividends; and (c) short put premium over time.
Alternatively, it's a "hmm, I really need to get more BP deployed here because I don't really have shit on at the moment" sort of thing ... .
Comments: Laddering out at intervals at strikes between 85 and 82, assuming they're paying.
This is naturally longer-dated than most will want to go, but is part of a TLT position made up of covered calls (stock + short call) and short puts, so that I'm getting paid for (a) short call premium; (b) dividends; and (c) short put premium over time.
Alternatively, it's a "hmm, I really need to get more BP deployed here because I don't really have shit on at the moment" sort of thing ... .
Trade closed manually
My most "at risk" strike ... . Closing here for a .33 debit; .65 ($65) profit. Still have rungs on at the 83 strike in Nov/Dec/Jan/Feb, along with some covered call action ... .Disclaimer
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