Opened (IRA): TQQQ Sept 20th 53 Monied Covered Call
Updated
... for a 50.14 debit.
Comments: Added another rung here on weakness/high IVR/IV (83/69.8), selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put with the built-in defense of the short call.
Will generally look to take profit on rungs at 50% max, roll out the short call for duration and credit if it doesn't hit at 21 DTE.
Comments: Added another rung here on weakness/high IVR/IV (83/69.8), selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put with the built-in defense of the short call.
Will generally look to take profit on rungs at 50% max, roll out the short call for duration and credit if it doesn't hit at 21 DTE.
Trade closed: target reached
Hit 50% max today; out for a 51.57 credit. 1.43 ($143) profit; 2.85% ROC.
Still have the Dec 68's, 58's, and 52's on, so will look to add in shorter duration if I can get in at strikes lower than those ... .
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