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Premiumselling

Rolling (Margin): NVDA Sept 16th 170/220 to Oct 21st 160/210... for a 5.16/contract credit. Comments: Rolling out to the 25 deltas (both sides) right before earnings in lieu of doing an intraexpiry delta adjustment with 28 days to go. Total credits collected of 2.52/contract (See Post Below) plus the 5.16 here for a total of 7.68/contract. The October 21st 160/210 is currently marking at around 11.50, so I'm still down 3.80 or so per contract. It's an improvement over I was as of the last roll, but I'm still just basically slogging away at a loser here to scratch it out (or make it less of a loser).
NASDAQ:NVDA
by NaughtyPines
Opening (IRA): QQQ September 30th 289 Short Put... for a 2.95 credit. Comments: Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit in the exchange-traded fund with the highest 30-day IV to emulate dollar cost averaging into the broad market. Take profit at 50% max or greater and/or roll out for duration and a credit. This would be more ideally put on in weakness and higher IV, but I'm willing to take some risk while I wait for a better IV environment to present itself.
NASDAQ:QQQLong
by NaughtyPines
Opened (IRA): SPY December 16th 325 Short Put... for a 3.41 credit. Comments: (Late Post). Part of a longer-dated strategy to emulate dollar cost averaging into the broad market, targeting the <16 delta strike paying around 1% of the strike price in credit. This is also an effort to stay more maximally deployed while I wait for shorter duration to be more productive from a premium-selling standpoint. Your basic choices are to (a) wait for a more productive IV environment in shorter duration; (b) force in strikes in shorter duration to get paid; or (c) sell longer duration. I'm kind of opting for (c) while I wait for (a) here.* However, I'm perfectly fine with those who want to do (b), keeping in mind that it's likely that they'll have a few more trade management headaches along the way, since those "forced in" strikes will be closer to at-the-money than what I'm doing here so are statistically more likely to be tested. Generally, I'll roll from month to month at 50% max, looking to deploy in shorter duration should we get weakness and an uptick in implied volatility. Currently, here are the shortest durations in which the <16 delta strike is paying around 1% in broad market: QQQ: September 23rd (49 DTE), 285 strike, 14 delta, paying 2.96. XLK**: AH showing wide bid/ask. IWM: September 23rd (49 DTE), 171 strike, 15 delta, paying 1.76. SPY: October 21st (77 DTE), 362 strike, 13 delta, paying 3.75. EFA: October 21st (77 DTE), 58 strike, 15 delta, paying .62. DIA: December 16th (177 DTE), 275 strike, 11 delta, paying 3.05.** * -- December would not be my first choice of expiries out of the box. However, I already have rungs on in September (376), October (362), and November (340). ** -- XLK (Select Sector SPDR Trust Technology) is "QQQ lite" and enjoys a close correlation with the broad market (3-month SPY correlation of .97), so have included it here. Additionally, its 30-day IV is comparable to the QQQ's at 26.5% versus QQQ's 26.7% with the added advantage of being a little bit less buying power heavy than either the QQQ's (321.75/share) or IWM (190.80/share). *** -- The October <16 delta isn't paying, and there is no November yet.
AMEX:SPYLong
by NaughtyPines
Rolled (IRA): QQQ September 16th 278 Short Put to October 21st... 268 short put for a 1.23 credit. Comments: This wasn't quite at 50% max yet, but thought I'd take the opportunity to do some housekeeping since I could realize a gain, strike improve, and receive a credit here by rolling for duration. Total credits collected of 14.09 (See Post Below) plus the 1.23 here for a total of 15.32 relative to a price of around 2.83 for the October 21st 268, so I've realized gains of 12.49 ($1249) so far.
NASDAQ:QQQLong
by NaughtyPines