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IWM trade ideas

IWM 175/170 Put Credit Spread - Apr 8thPut Credit Spread Strikes: 175 short / 170 long Credit received: 0.54 Max loss = 5.00-0.54 = $446 It has been a while since I posted and this is for a couple of reasons. 1. A short vacation away to kick back and relax 2. The markets have been chopping all over my currently open positions and taking longer to turn and burn trades, meaning there just was not much to do as I was very close to my % capital deployed limits. This trade is simple simple. I closed out my IWM 185/180 yesterday with the pop, so today I put on a 175/170 even further out. I could sit here and tell you how I think the market is going to go roaring back up due to X Y and Z, but the reality is I have no clue. I am simply identifying areas outside of the current range, that provide a decent margin of error and decent compensation. Then I manage the trade as needed and make sure to follow my rules of -200% SL and 50% TP. I think this needs to be said because as traders we are looked to for the answers but often we are just being mechanical. Would I like to be in a trend here where I could feel very confident about putting on a bullish trade? For sure, but that is not the case. And if we want to make money, we need to be in the game. This doesn't mean that I am not going to scale back position size and tighten other parameters such as delta etc. What do you do in times of uncertainty, I am curious to hear - leave it below!
AMEX:IWM
by ThetaTrades
2
IWM 185/180 March 16 Put Credit SpreadTrade Credit: $0.55 = 11% Return on Margin Max Loss = 500 - 55 = $445 Strikes - Short 185 / Long 180 This morning I realized that I need to get more capital deployed based off of my trading plan (something I hope everyone has!) As such I went looking for trades, and today is not a bad day to enter trades. Reasoning is below! 1. Recent red days = Increased IV and increased Put prices (although this is slight reduced due to a large green morning) 2. Still bumping around in the trading range outlined by the white support and resistance lines 3. Todays green move up is above the prior two days candles move, and is the beginning of a confirmation of a possible move to the top of the range. If we are headed there, this trade will hit its take profit much earlier than expiration. I always try and keep these trades less than 30 DTE for 2 reasons: 1. it makes calculating expected return per month easier 2. Decay really ramps up after <45DTE and this just grows faster and faster. Ideally these trades are closed prior to <21DTE though as this is when other greeks can begin to bite you such as gamma. Questions. Comments? Put em below!
AMEX:IWMLong
by ThetaTrades
10