Opening (Margin): /ES December 30th 1900 Short Put... for a 3.15 credit.
Comments: Adding a smidge back in, after taking off a couple of my higher risk rungs in October. 1.575 ($157.50) max on BPE of 13.75 ($1375); 11.5% ROC (50.0% annualized) as a function of buying power effect; 5.7% at 50% max (25.0% annualized). A basic bet that the S&P doesn't lose 50% of its value by year end.
Shortput
Opening (Margin): /ES December 16th 1800 Short Put... for a 3.10 credit.
Comments: Adding a rung in the December monthly at a lower strike than what I currently have on, targeting the <75% of current price strike paying around 3.00. 1.55 max on buying power effect of 18.38; 8.4% ROC at max as a function of buying power effect; 4.2% at 50% max.
Opened (IRA): SPY Nov 18th 320/Dec 16th 300/Jan 20th 280... short put ladder.
Comments: (Late Post). Added another tranche of rungs in November, December, and January monthlies in Friday's weakness with the November 18th 320 paying 3.23, the December 300 paying 3.05, and the January 280 paying 2.96.
Looking to primarily do housekeeping (closing out rungs at 50% max; rolling rungs) running into year's end in the absence of a new 52-week low.
Opening (Margin): /GC November 22nd 1380 Short Put*... for a 1.40 credit.
Comments: A pure directional shot at 52-week lows with plenty of room to be wrong. 1.40 credit on buying power effect of 10.04; 13.9% ROC at max as a function of buying power effect; 7.0% at 50% max.
* -- An out-of-the-money short put is neutral to bullish assumption, with max profit being realized on a finish at or above the short put strike.
Rolled (IRA): QQQ September 30th 289 to November 18th 278... for a 2.75 credit.
Comments: (Late Post). Rolled this out on Friday to be out of September contracts and to reduce risk, cost basis, and buying power effect. Opened this for a 2.95 credit. Credits collect of 2.95 (See Post Below) plus the 2.75 here for a total of 5.70.
Rolled (IRA): IWM September 30th 178 to November 18th 173... for a 2.02 credit.
Comments: (Late Post). Rolled this out late on Friday so that I can be out of September contracts, as well as reduce buying power effect and cost basis.
Credits collected of 1.80 (See Post Below) plus 2.02 for a total of 3.82.
Opening (Margin): /ES October 31st 2700 Short Put... for a 3.10 credit.
Comments: Adding a smidge more to my ladder on weakness. Targeting the <75% of current price strike nearest 45 days until expiry paying around 3.00 in credit. 1.55 max on buying power effect of 14.49; 10.7% ROC at max; 5.3% at 50% max as a function of buying power effect. As before, I'll look to take off the most at-risk strikes first at the earliest possible juncture and allow the remainder to ride.