Opened (IRA): SPY July 17th 345 Short Put... for a 3.55 credit.
Comments: Adding some rungs in high IVR/IV, targeting the <16 delta strike paying at least 1% of the strike price in credit.
Shortput
Opened (IRA): SPY June 17th 370 Short Put... for a 3.65 credit.
Comments: Layering some additional rungs on in this high IVR/high IV market. Selling the <16 short put paying at least 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Opened (IRA): QQQ June 17th 265 Short Put... for a 3.00 credit.
Comments: Filled toward the close, targeting the <16 delta strike in the expiry nearest 45 days until expiry paying at least 1% of the strike price in credit in the broad market exchange-traded fund with the highest 30-day IV.
Some of the rungs of this "ladder" are currently in the money, so can contemplate taking on shares/selling call against or rolling them out in time, but we'll deal with each rung in turn as we get to them.
Opened (IRA): QQQ June 17th 280 Short Put... for a 2.78 credit.
Comments: Targeting the <16 strike paying at least 1% of the strike price in credit in the broad market exchange-traded fund with the highest 30-day IV to emulate dollar cost averaging into the broad market. (And wasn't this green at the open?)
Rolled (IRA): IWM May 6th 185 Short Put to May 27th 183... for a 1.05 credit.
Comments: 50% max roll to the <16 delta strike in the expiry nearest 45 days that is paying around 1% of the strike price in credit. Total credits collected of 5.77 (See Post below) plus the 1.05 here for a total of 6.82 versus the 1.86 or so the 183 was paying, so I've realized gains of 4.96 ($496) so far.
The May 27th 16 delta is just barely paying 1%; otherwise, I probably would have done a "window dressing roll" from the 185 to the May 27th 175 for a small credit to milk the remaining extrinsic out of the option while reducing risk (since it's farther out-of-the-money) and buying power effect (since it would've been a lower strike).
Opened: /ES May 27th 3200 Short Put... for a 3.00 credit.
Comments: Rerunning the far out-of-the-money short put in /ES. 3.00 credit/1.50 max on buying power of 23.98. 6.3% ROC at max as a function of buying power effect; 3.1% at 50% max. As previously noted, it routes for a 3.00 credit, but its max is only half of that or 1.50 ($150). Will look to take profit at 50% max.
Closed: /ES May 20th 2850 Short Put... for a 1.00 debit.
Comments: Filled for a 2.00 credit (See Post Below); out here at 50% max. Ordinarily, this would be a 1.00 ($100) winner, but the way /ES works is that your max is half of the credit received -- in this case, one half of 2.00 is 1.00 ($100), so 50% max is .50 or $50.
Opened: /ES May 20th 2850 Short Put... for a 1.00 credit.
Comments: Just a little dorky way out-of-the-money short put engagement trade ... . 1.00 credit on buying power effect of 14.99; 6.7% at max as a function of buying power effect; 3.3% at 50% max.
Opening (IRA): SPY July 15th 370 Short Put... for a 4.00 credit.
Comments: Part of a longer-dated short put ladder strategy targeting the <16 delta strike paying at least 1% of the strike price in credit.
Portfolio net delta remains long, hedged off in part by a short delta SPY long put diagonal.
Opening (IRA): QQQ May 27th 305 Short Put... for a 3.20 credit.
Comments: Targeting the <16 delta strike in the expiry nearest 45 days until expiry paying at least 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Opening (IRA): IWM May 20th 180 Short Put... for a 1.90 credit.
Comments: Targeting the <16 delta in the expiry nearest 45 days until expiry paying at least 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Rolling (IRA): SPY June 17th 345 Short Put to June 30th 383... for a 2.46 credit.
Comments: The last little bit of SPY short put ladder cleanup here.
You know the drill ... . >50% max, roll out to the <16 delta strike paying around 1% of the strike price in credit. Credits collected of 6.05 (See Post Below) plus the 2.46 here for a total of 8.51 relative to the current price for the June 30th 383 of 3.86, so I've locked in gains of 4.65 ($465) so far.
Rolling (IRA): SPY May 20th 365 Short Put to June 17th 393... for a 3.08 credit.
Comments: Cleaning up the remainder of my short put ladder a bit after closing out or rolling a bunch of stuff in April expiries. With the May 20th 365 only worth .83 (i.e., way greater than 50% max), rolling it out to June. Total credits collected of 23.91 (See Post Below) plus the 3.08 here for a total of 26.99 relative to the June 393 short put price of 3.94 or so, so I've locked in gains of about 23.05 ($2305) so far.
I'll return to selling shorter duration stuff of around 45 days' duration if <16 delta strikes start paying again. Currently, the strike paying around 1% of the strike price in credit is at the 420, paying 4.24, and that's at the 19 delta.
Closing: SPY April 29th 375 Short Put... for a .40 debit.
Comments: April contract cleanup. Total credits collected of 20.47 (See Post Below) (I rolled and rolled and rolled). Closing out here for .40 results in total realized gains of 20.07 ($2007).
Rolling (IRA): QQQ May 20th 260 Short Put to May 20th 320... for a 2.88 credit.
Comments: With the 260 at greater than 50% max, rolling up to the <16 delta strike paying 1% of the strike price in credit, rather than extending duration. Total credits collected of 2.60 (See Post Below) plus the 2.88 here for a total of 5.48.
Opening (IRA): QQQ May 13th 325 Short Put... for a 3.28 credit.
Comments: My weekly broad market short put in the exchange traded fund having the highest 30-day, targeting the <16 delta strike paying at least 1% of the strike price in credit.
Closing (IRA): QQQ April 29th 275 Short Put... for a .27 debit.
Comments: April contracts cleanup ... . Opened this for a 2.76 credit. (See Post Below). Closing out here results in a 2.49 ($249) realized gain.
Closing (IRA): QQQ April 14th 305 Short Put... for a .22 debit.
Comments: April contracts cleanup. Collected a total of 5.40 in credits. (See Post Below). Closing out here results in total realized gains of 5.18 ($518).
Closing (IRA): IWM April 29th 170 Short Put... for a .28 debit.
Comments: Cleaning up April. Collected a total of 5.63 in credits with rolls. (See Post Below). Closing out here results in total realized gains of 5.35 ($535).
Closed (IRA): QQQ April 22nd 275 Short Put... for a .20 debit.
Comments: More clean up ... . Opened for a 3.05 credit. (See Post Below). Closing out here results in a realized gain of 2.85 ($285). Still have some on in the April 14th, April 29th, May 6th, and May 20th expiries.
Closed (IRA): SPY April 22nd 370 Short Put... for a .20 debit.
Comments: Cleaning up approaching worthless "rungs" of my short put ladder. Put this on for 4.00. (See Post Below). Closing it out here results in 3.80 ($380) of realized gains.
Closed (IRA): SPY April 14th 391 Short Put... for a .20 debit.
Comments: More taking off stuff approaching worthless on this volatility contraction/rip. Collected a total of 6.40 in credits with rolls. (See Post Below). Closing out here results in total realized gains of 6.20 ($620).
Closed (IRA): IWM April 14th 165 Short Put... for a .20 debit.
Comments: Cleaning up stuff that is approaching worthless ... . Opened for a 1.73/contract credit. (See Post Below). Closing out here results in a profit of 1.53 ($153)/contract. Still left with the April 29th and May 6th "rungs."
