Get started

Premiumselling

Opening (Margin): /ES November 18th 2400 Short Put... for a 3.10 credit (arrow indicated). Comments: Would prefer to do this on weakness plus an uptick in implied volatility, but I'm not getting any younger here. 1.55 max on buying power effect of 13.90, targeting the <75% of current price strike paying around 3.00/1.50 (due to 50x multiplier); 11.2% ROC at max as a function of buying power effect; 5.6% ROC at 50% max. At its core, a bet that that we don't see 2400 by opex. I've gone ahead and shown all my open /ES positions here, since part of the calculus in making the decision to take a rung off at less than max is its risk relative to other strikes I have on. For example, the nearest to at-the-money strike is currently the September 30th 3210, so I've got my eye on potentially taking that rung of before everything else since it's closer to at-the-money.
CME_MINI:ES1!Long
by NaughtyPines
Opened (IRA): SPY Oct/Nov/Dec/Jan Short Put Ladder... for a 13.52 credit total. Comments: A slightly different deployment approach, dispersing risk across expiries and strikes, rather than bunching up all my risk with multiples in one expiry (e.g., a 4 x October 21st 356). Here, targeting <16 delta strikes in successive expiries paying around 1% of the strike price in credit. You can do a maximum of four different strikes with any given order, so can either leg into these one strike at a time or look to get filled for the entire four leg kit-and-kaboodle. The alternative way to look at laddering out is as an acquisitional strategy where you're looking to acquire shares at increasingly lower prices if they present themselves. Since I'm going to manage each of these "rungs" separately, here's what I got paid for each leg: 3.65 for the October 21st 356 3.24 for the November 18th 335 3.41 for the December 16th 320 3.22 for the January 20th 300 Generally, I'll look to roll out a month at 50% max, whenever that occurs. Alternatively, if monied toward expiry, I'll compare and contrast rolling out (with or without strike improvement) versus taking assignment of shares and selling call against.
AMEX:SPYLong
by NaughtyPines
Rolled (Margin): NVDA October 21st 210 Short Call to 160for a 3.88 credit. Comments: Rolled to a short straddle today. Total credits collected of 11.56 with a cost basis of 148.44/share if assigned on the 160 short put. It's not great relative to where it's trading now, but I'm getting whipped on both the call and the put side, so I guess the benefit of a covered call (if it goes that way) is that I'll eliminate call side risk. I'm indicating it's "long" here, since the delta metric is 49 or so, but don't have a particular opinion on where NVDA goes from here.
NASDAQ:NVDALong
by NaughtyPines