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Shortput

Rolled (IRA): SPY March 18th 374 Short Put to June 345... for a 2.30 credit. Comments: As with the short puts I sold in IWM and QQQ in the sell-off, this one also is at greater than 50% max. Here, I rolled it out farther in time to start to fill out longer-dated expiries at intervals, again targeting the short put strike paying at least 1% of the strike price in credit, after which I'll roll the short put up at 50% max to the strike paying at least 1% of the strike price in credit, assuming the expiry is still longer than 45 days and that that strike is <16 delta. Naturally, June is quite long-dated (136 days), but the expectation is that it will reach 50% max at around half that period of time (assuming a bunch of things like IV, whether price moves significantly into the strike, etc.). In any event: Total credits collected of 3.75 (See Post Below) plus 2.30 here for a total of 6.05 relative to a price of 3.55 for the June 345, so I've realized gains of 2.50 ($250), give or take.
AMEX:SPYLong
by NaughtyPines
Rolled (IRA): QQQ March 18th 280 Short Put to April 14th 305... for a 2.40 credit. Comments: As with my IWM short put filled in the depths of the sell-off, there was far less extrinsic in the 280 than there was a few short days ago. Rolled out to April strike paying at least 1% of the strike price in credit, which is the 305, paying 3.19 or so. I collected 3.00 for the 280 (See Post Below) and 2.40 for the roll here, for a total of 5.40 relative to a current short put price for the April 305 of 3.20, so I've realized gains of 2.20 ($220) by rolling here. I could've naturally rolled up in the March expiry or waited for a weekly to roll out to (i.e., the March 25th, which doesn't exist yet), but opted for going longer dated, deeper out-of-the-money for the time being as I'm doing with my longer-dated SPY setup.
NASDAQ:QQQLong
by NaughtyPines
Opening: MJ July 15th 8 Short Put... for a .45 credit. Comments: Attempting a little bit of cost basis repair here, probably later than I should have. Since it's a small position, I felt okay rolling the short call out in time to a quite lengthy duration to get paid something "decent," but the underlying hasn't seen fit to move upward with any conviction. The resulting setup is a July 15th 8/16 covered strangle (short strangle + stock). Cost basis in my shares is now 13.64 relative to today's closing price of 11.21, so I've still got a little work to do to bring it more in line with where MJ's currently trading. Since it's a small position, I'm fine with being patient with it, but would be happier if my cost basis was lower than current price.
AMEX:MJLong
by NaughtyPines
Opening: ARKK March 18th 59.22 Short Put... for a 1.83 credit. Comments: Here, I'm basically treating the deep ITM 103.22 short put as stock with the 81.22 short call making that aspect of the setup -- the 103.22P/81.22C -- functionally a March 18th 81.22 covered call. I don't want to widen the inverted strangle further by rolling down the short call, since that would be the functional equivalent of selling a call below my cost basis, which I generally don't like to do. In essence, I'm converting this into a March 18th 59.22/81.22 covered strangle with the 103.22P standing in as my stock. I've collected a total of 22.58 in credits which makes my cost basis in my "synthetic stock" 103.22 - 22.58 or 80.64. The downside of doing this is that this makes the setup more net delta long, which will make for additional discomfort if this POS can't find a bottom somewhere.
CBOE:ARKKLong
by NaughtyPines
2
Opened (IRA): IWM March 4th 185 Short Put... for a 2.50 credit. Comments: Sold premium right at the close in the expiry nearest 45 days to emulate dollar cost averaging into small caps. Holistically, I've been using IWM for shorter duration trades (~45 days until expiry) and SPY for longer duration ones (since it doesn't pay as well as a function of buying power effect), and then coupling that with a longer-dated short delta hedge or hedges. (See, e.g., Post Below). I'm still net delta long, just not as long as I would be were I to be all short put without some kind of short delta aspect.
AMEX:IWMLong
by NaughtyPines
2
Rolling (IRA): SPY February 18th 416 to May 20th 365... for a 2.02 credit. Comments: Straightening up my longer-dated SPY setup, where I'm basically emulating dollar cost averaging into the broad market without actually taking a position in stock. With the February 18th 416 at greater than 50% max, rolling it out to May to the strike paying at least 1% of the strike price in credit, after which I'll roll it up intraexpiry or out for duration at 50% max to the strike paying at least 1% in credit, assuming that strike is <16 delta. I now have March, April, and May rungs on at will continue to either roll or add at intervals with the preference being to add on weakness and higher volatility (>20 VIX/>20 30-day implied). I've rolled this a bunch of times, collecting a total of 21.89 (See Post Below) plus the credit received here of 2.02 for a total of 23.91 relative to the 3.80 or so the May 365 is currently paying, so have realized gains of 23.91 - 3.80 = 20.11 ($2011) so far.
AMEX:SPYLong
by NaughtyPines
2
$ARKF SHORT PUT for Jan21, high PoP 20% profit #ark #optionsAny kind of ETF naked PUTs are my favorite at high IVR. My choice for today: ARK Fintech Innovation ETF Reasons: - high reward for Jan21 monthly expiry (mangeable with rolling) -> collecting credit - RSI is already oversold - breakeven point is far - PUT strike at 0.618 fib Max profit: $210 Probability of Profit: 89% Profit Target relative to my Buying Power: 20% Req. Buy Power: $1035 (max loss without management before expiry, no way to let this happen!) Tasty IVR: 73 (very high) Expiry: 38 days SETUP : NAKED PUT for $ARKF, because IVR is high, for 0.7cr * Sell 3 $ARKF JAN21'35 PUT Management : ROLLING if daily candle is closing below of BE. Take profit strategy : 70% of max.profit in this case with auto buy order at 0.2db Of course I'll not wait until expiry in any case! If you liked this article, check my other ideas. Anyway: HIT THE LIKE BUTTON BELOW , and for fresh option ideas FOLLOW ME( @mrAnonymCrypto ) on tradingview !
CBOE:ARKFLong
by TanukiTrade