OPENING (IRA): XLE APRIL 16TH 35 SHORT PUT... for a .93/contract credit.
Notes: With 30-day at 42.1% and expiry-specific also at 42.1%, going out to April (I already have some March on) to sell the 19 delta. 2.76% ROC at max. Just trying to keep theta on and burning. Trade management: run to approaching worthless or, if in the money, look at rolling out for a credit or taking on shares/selling call against (whichever pays more in credit).
Shortput
OPENING (IRA): BA MARCH 19TH 170 SHORT PUT... for a 2.91 credit.
Notes: The highest 30-day IV Dow component at 47.1% and expiry-specific at 51.6% and with earnings in the rear view mirror. Still have a February 170 on, which I am running to approaching worthless. 1.74% ROC at max as a function of notional risk.
OPENING (IRA): SPY JUNE 21ST 245 SHORT PUT... for a 2.60 credit.
Notes: Targeting the short put strike in June paying at least 1% of the strike price in credit (See Post Below). Roll up intraexpiry at 50% max with > 45 days until expiry; pull off on approaching worthless and/or sell call against if assigned.
I would note that you will not make squat with this type of setup if you just set and forget it and everything expires worthless, since your ROC %-age is around 1% at max on fill in a cash secured environment. Consequently, you will have to monitor these positions and roll up the short puts at appropriate junctures in order to collect more credit and get a better ROC %-age as a function of notional risk and/or sell call against if assigned.
It is also probably better to deploy over time and on red days to take maximal advantage of implied volatility/heightened premium. I'm opting for being somewhat lazy here as I approach retirement, where I value my free time more than my screen time, so am looking for a setup that is minimally invasive of my time, does what I generally need it to do from an ROC %-age perspective, and keeps my buying power engaged and working for me, even if theta decay is slow.
OPENING (IRA): HYG FEBRUARY 19TH 83 SHORT PUT... for a .37/contract credit.
Notes: Selling the strike in the monthly that pays a credit > or = to the monthly dividend, looking to emulate monthly dividends without being in the actual stock. The weeklies, unfortunately, aren't as liquid as I would like, so will sell in the nearest monthly down to 30 days until expiry.
OPENING (IRA): IWM APRIL 1ST 200 SHORT PUT... for a 2.80 credit.
Notes: I've been neglecting my broad market 16 delta put selling in the expiry nearest 45 days 'til expiry. Here, opting for an IWM short put in the April 1st cycle, since it still has the highest 30-day out of the majors (SPY, DIA, QQQ, IWM). 1.42% ROC at max as a function of notional risk.
OPENING (IRA): GLD MARCH 19TH 163 SHORT PUT... for a 1.78 credit.
Notes: Building up a GLD position a little bit here on this recent weakness. Targeting the strike that pays at least 1% of the strike price in credit, which here is the 22 delta 163. Going out to March, as I already have some on in February.
OPENING (IRA): MJ MARCH 19TH 16 SHORT PUT (LATE POST)... for a .71/contract credit.
Notes: With 30-day at 75%, and expiry-specific at 73.9%, opened a 20 delta short put in the weed ETF using my phone app. 4.65% ROC at max as a function of notional risk. As usual, will take off on approaching worthless or -- if in the money -- look at rolling out for a credit or taking assignment of shares and selling call against (whichever pays more).
OPENING (IRA): GDX FEBRUARY 19TH 33 SHORT PUT... for a .42/contract credit.
Notes: I have a smidge of SLV and GLD on, but didn't want to add to my GLD due to its crappy 30-day, and SLV drives me nuts somewhat with its lack of strike to strike granularity, so hitting the miners with a small position with a 30-day at 43.9% and its expiry-specific at 42.7%. 1.29% ROC at max; 10.5% annualized.
OPENING (IRA): BA FEBRUARY 19TH 170 SHORT PUT... for a 1.94 credit.
Notes: Although I've previously shied away from single name in the IRA, I'm starting to target some options highly liquid single name here, since I've already got positions on in all of the exchange-traded funds that are currently productive from a premium-selling standpoint. 30-day implied is at 50.9% and expiry specific at 51.4%. Going with a fairly low delta strike here outside 2 times the expected move that pays at least 1% of the strike price with the knowledge that earnings are in 35 days, so want plenty of room to be wrong.
For smaller accounts, consider a defined risk spread (e.g., the February 19th 170/175 short put vertical paying .52 or the February 19th 170/180, paying 1.12, etc.).
OPENING (IRA): UAL MARCH 19TH 33 SHORT PUT... for a .91 credit.
Notes: Here, an addition to my Jan '22 47 covered strangle in UAL to reduce cost basis further, which currently consists of (a) a Jan '22 47 covered call; (b) a February 19th 35 short put; (c) a March 19th 33 short put; and (c) a June 18th 32 short put. Cost basis is currently at 42.75 versus where the underlying is currently trading at 40.27.
30-day's at 67.3% with expiry-specific at 66.7%, with earnings in the rear view, so it could be fine as a stand alone trade (2.84% ROC at max as a function of notional risk).
OPENING (IRA): EWZ FEBRUARY 19TH 31 SHORT PUT... for a .72/contract credit.
Notes: Continuing to establish some new positions in 2021. January has gone a little bit short duration (38 days), so starting out in February. Will add on in weakness and/or if implied stays up there (30-day is currently 38.0%; expiry-specific at 40.3%). ROC: 2.38% at max; 11.75% annualized at max.