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Opening (IRA): AMD August 18th 90 Short Put... for a .91 credit. Comments: Grinding through my single name IV screener to sell premium in high IV single name here, targeting the shortest duration <16 delta strike to emulate dollar cost averaging into the underlying. Here, the top 10 are: SABR, SNAP, TSLA, CCL, META, NFLX, TEVA, AMD, CLF, INTC. I'm already in TSLA, META, and NFLX and some of the others are too small to be worthwhile from a dollar and cents standpoint (i.e., SABR, 3.22/share; TEVA, 7.58). As usual, I'm perfectly fine with taking assignment of shares, selling call against if that happens, but primarily just looking to augment the amount of theta I have on, since my usual broad market go-tos (IWM, QQQ, SPY) aren't exactly paying buckets in shorter duration.
NASDAQ:AMDLong
by NaughtyPines
3
Opening (IRA): TSLA September 15th 155 Short Put... for a 1.61 credit. Comments: Adding on weakness here, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the underlying without actually being in the stock. I would've used the August monthly, but already have a rung on there at the 175 strike. One of the highest IV options liquid single name on my board at 67.8%. (The two higher ones are NIO -- trading at 8.51/share and SNAP, trading at 11.24).
NASDAQ:TSLALong
by NaughtyPines
Opening (IRA): NFLX August 18th 345 Short Put... for a 3.75 credit. Comments: 30-day IV of 47.9%. Selling premium in some high IV single name, with the caveat that earnings are on July 19th, so I'll be "playing through" and (continuing with the golfing theme) hoping to clear the water hazard. As with my broad market short puts, targeting the <16 delta strike paying around 1% of the strike price in credit, giving me room to be wrong. I'm primarily doing this because broad market IV isn't exactly great here: IWM, 19.9%; QQQ, 19.5%, SPY, 13.0%.
NASDAQ:NFLXLong
by NaughtyPines
Opening (IRA): TLT November 17th 94 Short Put... for a .75 credit. Comments: Continuing to build out rungs in 20-year plus maturity paper, targeting the 16 delta strike to emulate an equities/bond mix in my portfolio using short puts, particularly since TLT 30-day is actually greater than that in SPY (15.1% for the former; 13.0% for the latter). As usual, I'm fine with taking assignment of shares at this level and then proceeding to "cover" (i.e., sell call against) if that happens.
NASDAQ:TLTLong
by NaughtyPines
Opening (IRA): IWM September 15th 146 Short Put... for a 1.46 credit. Comments: Re-establishing a September rung after scratching out a higher strike trade yesterday, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. The shortest duration trades in which the <16 delta strike is paying around 1% in credit: IWM: August (at the 154 strike, paying 1.58) QQQ: August (at the 296 strike, paying 2.99) SPY: September (at the 367 strike, paying 3.70).
AMEX:IWMLong
by NaughtyPines