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Shortput

Rolling (IRA): SPY November 19th 379 to December 17th 388 SP*... for a 2.21 credit. Comments: Part of a longer-dated strategy to keep maximal buying power deployed, even in "locally" (i.e., <45 days until expiry) low implied volatility environments. Here, the November 17th 379 is at 50% max, so rolling it out to the strike in December paying at least 1% of the strike in credit which is the 388, paying 3.96. Up to this point, I've collected a total of 13.19 (See Post Below) in credits. With this roll, I've collected 13.19 + 2.21 = 15.40 relative to the December 17th 388 short put value of 3.96, so I've realized gains of 11.44 ($1144) so far. * -- Short Put
AMEX:SPY
by NaughtyPines
Trade Idea: SPRT October 15th 10 Short Put30-day implied volatility is at a whopping 280%. A trade idea with a ridiculous return on capital at max, regardless of whether you strip naked (i.e., short put) or spread it. Metrics: Notional Risk: $784 Max Profit: $216 ROC at Max as a Function of Notional Risk: 27.6% ROC at 50% Max as a Function of Notional Risk: 13.8% Break Even/Cost Basis in Stock if Assigned: 7.84 Comments: I'm not usually fond of meme stocks, but when I can potentially get 27.6% by selling a 50% out of the money put, well, I just might dip my toe in. As a potential variation, consider spreading it by buying the October 15th 3 for .08 and selling the 10 for 2.16, resulting in a 7-wide that you're getting paid 2.08 for on a buying power effect of 4.92 -- a max profit ROC potential of 42.3%. Point in fact, I kind of like the spread better for defining the risk on a reduced buying power effect. * -- October 15th expiry as of Friday's close.
SLong
by NaughtyPines
2
Rolling (IRA): SPY October 15th 391 Short Put to Feb 18th 335... for a 2.29 credit. Comments: Part of a longer-dated strategy intended to keep maximal buying power deployed even when "local" (i.e., <45 days until expiry implied volatility) kind of sucks. With the October 15th 391 worth only 1.13, cleaning up my SPY short put ladder by rolling this out to the February strike paying at least 1% of the strike price in credit (which happens to be the 335, paying 3.41). Total credits collected of 15.74 + 2.29 = 18.03 versus a short put value of 3.41, so I've realized gains of 18.03 - 3.41 = 14.62 ($1462) so far.
AMEX:SPY
by NaughtyPines
Rolling (IRA): ARKK Oct 15th 100 Short Put to Nov 19th 104... for a 1.50/contract credit. Comments: With the 100's at greater than 50% max (they're worth .84 here), rolling out to the November monthly for a realized gain and a credit. The implied isn't as good as it was, but is still >35%; otherwise, I'd just leave it alone or take profit and move on. Relatedly, since the implied isn't fantastically great, keeping my units the same instead of adding, keeping buying power free for a higher volatility environment. Total credits collected of 3.52 (See Post Below) + 1.50 = 5.02 versus a current short put value of 2.38, so I've realized profits of 5.02 - 2.38 = 2.64 ($264)/contract so far.
AMEX:ARKKLong
by NaughtyPines
Rolling (IRA): SPY Nov 19th 345 Short Put to Dec 17th 376... for a 2.40 credit. Comments: More cleanup/profit-taking on my SPY longer-dated short put ladder, here, in the November cycle. With the November 19th 345 at >50% max (it's worth 1.37 here), rolling it out to the December strike paying at least 1% of the strike price, which is the 376, paying 3.77. Total credits collected of 6.19 (See Post Below) plus 2.40 or 8.59 versus a current price for the December 376 of 3.77, so I've realized gains of 8.59 - 3.77 or 4.82 ($482) so far.
AMEX:SPY
by NaughtyPines
Rolling (IRA): SPY Oct 15th 382 to Nov 19th 401 Short Put... for a 2.86 credit. Comments: More profit-taking, longer-dated SPY ladder housekeeping. With the October 15th 382 at >50% max (there's only 1.15 left in it at the moment), taking profit and rolling it out to the November 15th 401 which is paying 4.02 -- around 1% of the strike price in credit. Total credits collected of 10.45 (See Post Below) plus 2.86 = 13.31 versus a current short put value of 4.02, so I've realized gains of 13.31 - 4.02 or 9.29 ($929) so far.
AMEX:SPY
by NaughtyPines