Closed: MU January 21st 86/97.5 Short Strangle... for a 2.12 debit.
Comments: Total credits collected of 3.23 (See Post Below). Closing it today for 2.12 results in a realized gain of 1.11 ($111), which was my original profit target.
Premiumselling
Closed: IWM January 28th 219C/231P Short Strangle... for a 16.48 debit.
Comments: Total credits collected of 16.48 (See Post Below); scratching it out here for exactly that amount. It's possible that I could've still made money on this trade since price was in-between the strikes of my inverted setup, but my preference is to look to scratch these out if given the opportunity and then redeploy the buying power in something more productive from an implied volatility and probability of profit perspective rather than hang out in them attempting to make them winners.
Opened: BITO February 18th 23/42 Short Strangle... for a 1.48 credit.
Comments: Selling premium in the bitcoin futures exchange-traded fund with same delta'd strikes on both sides. High 30-day implied at 76.1%. 1.48 on buying power effect of 22.20; 6.7 ROC %-age at max; 3.3% at 50% max. You know the drill: look to take profit at 50% max; manage sides on approaching worthless/side test.
Closed: XLK January 21st 152/181 Short Strangle... for a 1.21 debit.
Comments: Filed for a 2.42 credit (See Post Below), out today at 50% max. 1.21 ($121) profit. Nice way to end the year.
EURJPYIts making HH HL on 4h and 1H. there are some bearish divergence noticed but we follow simplicity as DOW.
Follow trade plan with discipline.
Rolling: ARKK January 21st 95.22C/104.22P to February 18th... 94.22C/104.22P inverted short strangle for a 3.80 credit.
Comments: Rolling this a smidge early here. Total credits collected of 15.25 as of the last adjustment (See Post Below) plus the credit received for this roll. The setup is inverted by 10.00, so I can still make money on it because I've collected more in credits than the inversion, but am more likely just to scratch it out if I get the opportunity so that I can reload an unbroken setup. I would note that there was a dividend/special distribution on the 29th which affected the strike prices of the setup.
Closed: JETS February 18th 23 Short Straddle... for a 2.55 debit.
Comments: Total credits collected of 3.02 on this puppy. (See Post Below). Closing out today for a small winner (.47/$47).
Closed: /ES February 18th 3590 Short Put... for a .75 ($75) winner.
Comments: Wanted to take profit before year end tax harvesting/window dressing selling. Will look to re-up on weakness/higher volatility.
Opened: XBI February 18th 100/132 Short Strangle... for a 2.69 credit.
Comments: And back into XBI (rank/implied 54/37) after closing out my January position. 2.69 credit on buying power effect of 11.30 (on margin); 23.8% ROC as a function of buying power effect; 11.9% at 50% max. As usual, will look to take profit at 50% max; manage sides on either approaching worthless or test.
Closed: XBI January 21st 103/127 Short Strangle... for a 1.69 debit.
Comments: Put this on for a 3.39 credit. (See Post Below). Out today via a good until cancelled order to take profit at 50% max with 25 days to go. 1.70 ($170) profit. It's nice to basically have to do nothing defensively every once in a while.
Closed: UNG January 21st 14C/17P Inverted Short Strangle... for a 4.86 debit.
Comments: I collected a total of 5.44 in credits for this setup. (See Post Below). It started out as a 17 short straddle, after which I rolled the 17 short call down defensively to cut net delta, resulting in an inverted strangle (i.e., short call below the short put). Closed it out here for a small winner on this up move; 5.44 - 4.86 = .58 ($58).
Opening (Margin): /ES February 18th 3590 Short Put... for a 3.75 credit.
Comments: A small, far out of the money engagement trade. 3.75 on buying power effect of 32.41; 11.6% ROC as a function of buying power effect; 5.8% at 50% max. Will generally look to take profit at 50% max.
Closed: GDXJ January 21st 36/46 Short Strangle... for a .56 debit.
Comments: Filled this for a 1.12 credit (See Post Below). Out today via good until cancelled order to take profit at 50% max with 29 days to go. .56 ($56) profit; 13.6% ROC as a function of buying power effect.
Closed: BITO January 21st 25/44 Short Strangle... for an .80 debit.
Comments: Filed this for a 1.60 credit (See Post Below; out here via good-until-cancelled order to take profit at 50% max. .80/$80 profit. 3.3% ROC as a function of buying power effect.
Although implied volatility has contracted a bit, will consider re-upping in the February cycle after New Year's, assuming the strikes above 40 get populated. Currently, the February 18th 40 short call is the highest available strike, with a delta of .29.
Opened: EWZ February 18th 24 Short Put... for a .53 credit.
Comments: Adding a short put element to what was a long call diagonal (June 17th 25 Long Call/February 18th 32 Short Call). Up to this point, my cost basis in the diagonal alone was 5.45, implying a 30.45 break even relative to where EWZ is currently trading at 27.90. I wanted to bring the setup break even closer to where EWZ is currently trading, and selling this put results in a net cost basis of 4.92 with a break even of the long call strike (25) + 4.92 or 29.92.
I'll look to roll the short strangle (short put/short call) as a unit to reduce cost basis further, assuming we don't get a bodice ripper up to >32, at which point the diagonal should begin to converge on max.
Closed: NVDA January 21st 220/360 Short Strangle... for a 3.08 debit.
Comments: Filled this on Friday for a 6.15 credit. (See Post Below). Out here today at 50% max; 3.07 ($307) profit; 10.9% ROC as a function of buying power effect for 5 days' "work."
