... for a 3.02 credit. Comments: More clean-up of my longer-dated SPY premium-selling setup ... . Here, rolling the January 21st 328 up intraexpiry to the strike paying at least 1% in credit. Total credits collected of 5.15 + 3.02 = 8.17 relative to the 397 short put value of 4.04, so I've locked in gains of 8.17 - 4.04 or 4.13 ($413) so far.
... for a 16.92/contract debit. Comments: There's still about .50 of extrinsic in the short calls here, but earnings are in 22 days, and I'm taking the money and running here. My cost basis in the shares covered by the short calls is 14.74 (See Post Below), so closing out here results in a realized gain of 16.92 - 14.76 = 2.16 ($216)/contract. This is about...
... for a .15/contract debit. Comments: Plain Jane profit-taking here on approaching worthless. In for 1.19 on weakness and >35% implied (See Post Below); out here for .15/contract with 31 days to go in the contracts. 1.04 ($104) profit per contract. Implied isn't horrible here at 41.2%, but liquidity in the options has dropped off somewhat, and it isn't...
... for a .52/contract credit. Comments: This is to cover the 16's I was assigned on last week. They had a cost basis of 15.57/share (See Post Below). By selling the 16's against for .52, my cost basis in the shares is now 15.57 - 15.52 = 15.05/share.
... for a 2.44/contract credit. Comments: Laddering out a little bit in ARKK, whose 30-day's still fairly decent at 47.2%. 2.45% ROC at max. I now have two "rungs": the August 20th 110's and the September 17th 102's. Generally, will take profit on approaching worthless or take assignment if that happens, sell call against.
... for a 2.14 credit. Comments: Here, I don't want to extend duration, so am just rolling the short put up intraexpiry at 50% max to the strike paying at least 1% of the strike in credit. Total credits collected of 4.05 (See Post Below) + 2.14 = 6.19 relative to a current value for the November 19th 345 of 3.48, so I've realized gains of 6.19 - 3.48 = 2.71...
... for a 2.04 credit. Comments: Mechanically rolling at 50% max. Here, I'm rolling out to the quarterly expiry strike that pays at least 1% of the strike price in credit (the September monthly is getting kind of crowded), which happens to be a lower strike. Credits collected so far: 16.31 (See Post Below) + 2.04 = 18.35 relative to a current price for the...
for a 2.27 credit. Notes: With the August 20th 378 at >50% max, rolling it out mechanically to the next monthly strike paying at least 1% of the strike price in credit. I've collected 11.31 (See Post Below) + 2.27 in credits so far or 13.58 ($1358) relative to the September 17th 386 current price of 3.86, so have realized gains of 13.58 - 3.86 or 9.72 ($972) so far.
... for a 1.32/contract credit. Comments: One of the exchange-traded funds that still has a 30-day implied of greater than 35% here (it's 38.8% at the moment) with expiry-specific at 40.3%. Unfortunately, it doesn't line up fantastically with price action; the strike is above the previous swing low around 68. However, I'm fine with taking assignment if that...
... for a 2.31 credit. Comments: Part of a longer-dated premium selling strategy ... . With the 324 at >50% max, rolling up to the strike paying at least 1% of the value of the strike. I've collected 6.04 (See Post Below) + 2.31 so far or 8.35 versus the September 17th 372's value of 3.67, so I've realized gains of 8.35 - 3.67 or 4.68 or $468 so far.
... for a .33 debit. Comments: With 26 days to go, taking profit here at 86% max. In for 2.32 (See Post Below), out for .33 here; 1.99 ($199) profit.
... for a 1.75 credit. Comments: In this particular case, I don't want to extend duration (since it's already ridiculously long-dated as it is), so am just rolling up intraexpiry for a credit at around 50% max. Total credits collected of 3.33 (See Post Below) + 1.75 = 5.08 versus a short put value of 3.03 here, so I've realized a gain of 2.05 ($205) so far.
... short put for a 1.94 credit. Comments: At 50% max, rolling month to month to the strike paying at least 1% of the strike in credit (i.e., the 358 is paying 3.60, which is just a smidge over 1%). Total credits collected of 7.07 (See Post Below) plus 1.94 = 9.01 versus a current short put value of 3.60 = a realized gain of 5.41 ($541) so far.
... for a 2.01 credit. Comments: With the July 16th 385 approaching 50% max, rolling month to month to the strike that pays at least 1% of the strike in credit. Total credits collected of 14.12 (See Post Below) plus 2.01 = 16.13 versus a value for the August 381 short put of 3.78 or so (i.e., a realized gain of 16.13 - 3.78 or 12.35 ($1235).
... for a 2.22 credit. Comments: Total credits collected of 3.10 (See Post Below) + 2.22 = 5.32 versus a short put value of 2.32 = a realized gain of 3.00 so far. Previously, I rolled down and out as a "window dressing" roll, but like the idea of being in all three majors (SPY, IWM, and QQQ) to take advantage of some rotational stuff going on, so decided to...
... for a 1.69 credit. Comments: Was hoping for a red day here after yesterday's price action, but can't have everything. In any event: with only .58 or so left in the 202.5, rolling out to the July 23rd 16 delta strike at the 205 for a 1.69 credit in lieu of adding units. Total credits collected of 4.12 (See Post Below) + 1.69 or 5.81 versus the 205's current...
Here's where the premium was at as of Friday's close: Broad Market Exchange-Traded Funds With 30-Day Implied >20%: IWM (1/23) Comments: I have quite a bit of IWM on here, but my order of preference is broad market, then sector, then single name, so am comfortable with adding if we get both weakness and a pop in volatility. IWM/RUT has been fairly rangebound,...
... for a .37/contract debit. Comments: In for 1.50/contract (See Post Below), out for .37/contract here; 1.13 ($113) profit per contract with 21 days to go. It's still somewhat weak here, but implied volatility has crushed into sub-35, which is kind of my exchange-traded fund implied volatility cut-off.