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Shortput

Closing (Margin): /MES February 17th 3590 Short Put... for a 21.50 debit. Comments: Fixing part of my screw up in opening my additive delta adjustment short strangle (which I opened in the February 28th expiry instead of the February 17th). (30.00 credit (for this leg) - 21.50)/20 = .425 ($42.50) profit. I will now proceed to open a 13 delta short put in the February 28th expiry to replace it, but will still have the February 28th 3720 short put on as "an odd man out" for the time being.
CME_MINI:MES1!
by NaughtyPines
Opening (IRA): SMH Feb/March 170/154 Short Put LadderComments: My broad market positions are getting a little crowded and busy, so deploying some buying power into some sector ETF's, targeting the <16 delta strike paying around 1% of the strike price in credit. 30-day isn't bad here at 36.3%, but this isn't exactly as weak as it has been, so it's possible that a better entry could be had. Because of that, I'll look to potentially add should better opportunities present themselves. The goal here is to collect premium and/or to reduce cost basis in shares that you might be eventually assigned and not necessarily to get ideal entries; there is, after all, some "slop"/room to be wrong with these. That being said, being patient and getting paid something decent for a lower strike is always a good thing, since a lower strike means a smaller buying power effect. February 17th 170: 1.74 credit March 17th 154: 1.54 credit
NASDAQ:SMHLong
by NaughtyPines
Opening (Margin): /MCL March 16th 55 Short Put... for a .50 credit. Comments: My position has skewed out to delta/theta >1.0, so I looked at doing a small adjustment here. My options were: (a) take off profitable short delta (there isn't any at the moment); (b) add a skewed strangle as I did before; (c) roll up a profitable short put; or (d) sell a brand new put. I was looking to pick up around +6 delta or so, so opted for (c), but had to go out to March to get paid something decent for a 6 delta strike (although .50 isn't "fabulous"). This also happened to be buying power free and actually freed up a smidge (we're talking like $15, so nothing to really "whoo-hoo" about). I've collected a total of 4.11 in credits and will look to unwind the whole shebang in profit (preferably, at 50% max).
NYMEX:MCL1!Long
by NaughtyPines