Opening (IRA): QQQ Dec 29th/Jan 19th 309/300 Short PutsComments: Squeezing in a couple rungs at strikes better than what I currently have on, targeting the <16 delta strike paying around 1% of the strike price in credit.
Shortput
Opening (IRA): TLT October 20th 93 Short Put... for a .74 credit.
Comments: Adding in an October rung here in 20 year+ maturity paper after taking off my July rung. 30-day IV remains higher than SPY.
Am fine with getting assigned shares if that happens. Prior to COVID, I had a rather large TLT covered call position in my IRA, but felt compelled to take profit on it at or near COVID highs and have been looking to get back in ever since then.
Opening (IRA): XBI October 20th 76 Short PutComments: Looking to sell the around the 30 delta here in the October monthly, which is more aggressive than I usually go, but am fine with taking assignment, selling call against if it comes to that.
Currently, the strike is bid 1.45/ask 1.65 with a 1.55 mid, so will look to get a fill "in that neighborhood."
Just looking for some "engagement" in this broad market, low IV environment with my standard go-to's (IWM, QQQ, SPY) at 17.8%, 18.8%, and (ugh) 13.6%, respectively for their 30-days.
Opening (IRA): SMH November 17th 130 Short Put... for a 1.32 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semiconductor ETF.
I have no current position on in SMH, so will look to add at intervals should IV remain decent (it's currently at 28.7%, but at the low end of its 52-week range).
Opening (IRA): QQQ December 15th 320 Short Put... for a 3.21 credit.
Comments: Rounding out fourth quarter rungs, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
$WBA 11DTE SHORT PUT 10% profit target #WBA #options10% TP for my cap in 10 days? It's good....
Any kind of naked PUTs on big instrument are my favorite at high IVR with divergence.
My choice for today: Walgreens Boots Alliance Inc.
Reasons:
- RSI is already oversold with big divergence
- breakeven point is little close, but allowed loss ($50 max) is manageable
SETUP:
NAKED PUT for NASDAQ:WBA , because IVR is high, for 0.7cr
* Sell 2 NASDAQ:WBA OCT13 '22 PUT
Max profit: $152
Probability of 50%Profit: 72% (TP: $95)
Profit Target relative to my Buying Power: 10%
Req. Buy Power: $1035 (max loss without management before expiry, no way to let this happen!)
Tasty IVR: 84 (very high)
Expiry: 11 days
SOLD OCT13'22PUT @ 0.76cr
Opening (IRA): TSLA November 17th 190 Short Put... for a 2.31 credit.
Comments: High IV at 56.7%. Targeting the <16 strike paying around 1% of the strike price in credit to emulate dollar cost averaging into Tesla without actually being in the stock. I'll consider adding if I can get in at better strikes than this starter position.
Earnings are on October 18th, so will be looking to "play through."
Opening (IRA): SMH November 17th 125 Short Put... for a 1.26 credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semiconductor exchange-traded fund. Here, I'm adding a rung at a better strike in the November monthly than what I currently have on.
Opening (IRA): TLT November 3rd 88 Short Put... for an .88 credit.
Comments: Targeting the strike paying around 1% of the strike price in credit in the shortest duration contract around 45 days until expiration, looking to pick up shares via assignment in this general area of weakness.
EURCHF: Short Trade with Entry/SL/TP
EURCHF
- Classic bearish setup
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SUGGESTED TRADE:
Swing Trade
Short EURCHF
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Opening (IRA): TLT November 17th 90 Short Put... for a .95 credit.
Comments: Squeezing in a short put in the November expiry at the 90 strike. Here, I'm actually looking to pick up shares, so am being more aggressive than I would ordinarily be, with the 90 camped out at the 27 delta.
Opening (IRA): XBI November 17th 71 Short Put... for a .77 credit.
Comments: Targeting the shortest duration <16 delta short puts paying around 1% of the strike price in credit to emulate dollar cost averaging into the biotech exchange-traded fund.
Opening (IRA): SPY January 19th 375 Short Put... for a 3.76 credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Going out to January here, because I already have quite a few rungs on in the Nov and Dec monthlies, as well as the Dec 29th.
I may still try to squeeze some rungs in November and December if that turns out to be productive and/or at better strikes than I currently have on.
Opening (IRA): IWM December 29th 155 Short Put... for a 1.56 credit.
Comments: Rounding out rungs in the last of the available expiries in the 4th quarter, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market using short puts.
If I had nothing on in IWM, I'd probably go shorter duration (e.g., November 17th) where the 165 is paying 1.75 at the moment; I already have a rung at that strike, so am going out farther in duration to keep theta on and burning. The same would probably go for my Friday stuff in the Q's and in SPY.
Opening (IRA): IWM Nov/Dec 165/159 Short PutsComments: Targeting the <16 strike in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Filled the November 17th 165 for 1.71 credit; the December 15th 159, for 1.60.
Will generally look to take profit at 50% max or roll down and out for duration and a credit if tested.
Opening (IRA): QQQ November 17th 327 Short Put... for a 3.28 credit.
Comments: My weekly broad market short put in the shortest duration contract where the <16 delta is paying around 1% of the strike price in credit to emulate dollar cost averaging into the market without actually being in stock.
Opening (IRA): TLT October 27th 91 Short Put... for a .96 credit.
Comments: Adding on weakness, targeting the strike paying around 1% of the strike price in credit in the contract nearest 45 days duration.
This is more aggressive than I usually do, since it's at the 30 delta, but I'm looking to pick up shares at or around these lows if at all possible. Because of this, I'll look to run these right up until expiry and/or take them off for "approaching worthless"; I immediately stuck an order in to close it if it gets to .05.
If I get assigned, I'll look to cover with short call.
Opening (IRA): SPY Dec 15th/Dec 29th 391/384 Short PutsComments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Laddering out in successive expiries to disperse risk over time.
Will generally look to take profit at 50% max or roll down and out for a credit if tested.
December 15th 391: 3.96 credit
December 29th 384: 3.86 credit
Opening (IRA): IWM Jan 19th 157 Short Put... for a 1.58 credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. As I mentioned in my earlier post (See Below), shorter duration is probably paying, but I already have rungs on in the Nov 17th, Dec 15th, and Dec 29th expiries, so going out to 2024 here.
Naturally, I'll sell in shorter duration if I can get in at strikes better than what I currently have on.
Opening (IRA): QQQ December 29th 297 Short Put... for a 3.00 credit.
Comments: Rounding out fourth quarter rungs in the Q's here, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Shorter duration (i.e., November) is actually paying at or below the 16 delta strike, but already have rungs camped out there (although I still may squeeze some in there in the weeks ahead if it's productive).
Will start to look to peel off shorter duration rungs as I come to them, although I only have a couple of October rungs left, with the majority being out in November and December.
Opening (IRA): QQQ November 17th 324 Short Put... for a 3.28 credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market and to generate "free cash flow."
Opening (IRA): SMH November 17th 122.5 Short Put... for a 1.34 credit.
Comments: Adding a rung out in the November monthly so that my October rung doesn't look so lonely ... . It's actually because SMH 30-day IV is still fairly decent at 31.6%; the only options liquid ETF's with better IV are GDXJ (35.2%) and FXI (32.0%).
Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semiconductor exchange-traded fund.
Opening (IRA): QQQ October 20th 340 Short Put... for a 3.48 credit.
Comments: My weekly short put in the Q's, targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit.
This is to emulate dollar cost averaging into the broad market without actually being in the stock.
