... for a 1.83 credit; delta/theta -33.33/3.30. Notes: Here, overwrote 20 delta calls in April and May late in the trading session to flatten net long delta'd covered calls I have on in TLT and to add a little something something to what is now a low yielder from a dividend perspective. As you can see by the chart, we're basically at all time highs since...
After taking off a similar setup earlier in the day, re-upping with a covered call long delta cutter setup using cheap longs in the September cycle (I paid .07 a piece for them) and shorties in the May, June cycles (for which I received 5.84/contract). At the moment, I bought a few more long contracts than short ones, so that I can add more short call units later...
... for a .31/contract debit. Notes: Hard to believe that these were well in the money a few days ago, but they've largely done their job. Over time, I collected 11.70/contract in credits, and am closing out here for .31, so made 11.39 ($1139)/contract, all while protecting my SPY position from most of the bruising it got over the last week. (See Overwriting...