NaughtyPines

NaughtyPines

... for a 35.29 debit. Comments: Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 35.29/share Max Profit: .71 ROC at Max: 2.01% 50% Max: .36 ROC at 50% Max: 1.00% That 1.00% ROC at 50% max is kind of "marginal," but just...

NaughtyPines

... for a 71.29 debit. Comments: Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. I'm looking at this as a starter position because I kind of have a feeling that I'm going to regret not putting this on in weakness/higher IV and will be adding at better strikes/break evens (only...

NaughtyPines

... for a 66.48 debit. Comments: Back into the slippery stuff with /CL trading at 70.48. Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. My basic approach here is to dink and donk on the underlying when /CL is at $70/bbl. or below. Metrics: Break Even/Buying Power...

NaughtyPines

... for a 221.96 debit. Comments: Selling the -85 call against stock to emulate the delta metrics of a 15 delta short put with the built-in defense of the short call. Here, primarily just looking to capture the next little increment of up move I missed out on with my 220 covered call. Metrics: Buying Power Effect/Break Even: 221.96 Max Profit: 3.04 ROC at...

NaughtyPines

... for a 501.71 debit. Comments: Re-upping at a higher strike than the one I just took off, looking to capture an additional little increment of upmove that I missed out on. If you wanted to be really anal about it, you could capture all of the up move over time (or capture the same increment more than once). For example, say I just took off the November 15th...

NaughtyPines

... for a 421.94 debit. Comments: As with my IWM covered call, re-upping in QQQ at a strike higher than the one I just took off in an attempt to capture the next increment of the up move that I missed out on. I'm not expecting a ton out of this (the max is 3.06), but that's okay, since I'm not yet ready to go all the way out to January yet anyhow.

NaughtyPines

... for a 193.79 debit. Comments: Re-upping with a monied covered call in the December 20th expiry at a strike that is slightly higher than the one I just took off to "capture" the next little increment of up move that I missed out on. I'm not expecting much out of this (it has a 1.21 max), but didn't want to set up my tent in January yet either.

NaughtyPines Updated 

... for a 497.51 debit. Comments: Re-upping at a strike that is a smidge higher than what I just took profit on, looking to eek out just a smidge more out of November without taking on a huge amount of additional risk ... . Buying Power Effect/Break Even: 497.51 Max Profit: 3.49 ROC at Max: .70% 50% Max: 1.75 ROC at 50% Max: .35%

NaughtyPines Updated 

... for a 415.50 debit. Comments: After taking off my Nov 415 covered call in profit (See Post Below), re-upping here, but at a slightly higher strike (there are only five-wides available). The 420 is at the -87 delta, so this is less aggressive than I usually do (-75 delta call). However, I've already booked profit in the November cycle, so am fine with...

NaughtyPines Updated 

... for a 192.28 debit. Comments: Re-upping with a monied covered call in November with a strike that is slightly higher than what I previously had on at the 193. (See Post Below). Just looking to get a little more out of the November cycle before moving onto December without taking on a ton of additional risk ... . Metrics: Buying Power Effect/Break Even:...

NaughtyPines

... for a 6.03 credit. Comments: High IV at 95.8%. Here, going delta neutral, 1/10th the price of the underlying for my wing width, and setting up my short option strikes at the 16 delta on both sides. Metrics: Max Profit: 6.03 Buying Power Effect: 23.97 ROC at Max: 25.16% 50% Max: 3.02 ROC at 50% Max: 12.58% Will generally look to take profit at 50% max;...

NaughtyPines

... for a 1.01 credit. Comments: Adding to my TAN position at a strike/break even better than what I currently have on. Here, going Plain Jane short put, since there isn't a great advantage to going monied covered call here because the IV skew isn't between the call and put sides isn't significant. Metrics: Buying Power Effect/Break Even: 31.99 Max Profit:...

NaughtyPines Updated 

... for a 70.80 debit. Comments: High IV at 55%. Buying a one lot and selling a -75 call against in the August 16th monthly to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. I looked at doing something in the 45 DTE wheelhouse, which would be the August 30th expiry, but it was less liquid than the monthly, so opted to...

NaughtyPines Updated 

Comments: Third highest 30-day IV (46.1%) on my options highly liquid ETF board behind BITO and TQQQ. There are two different aspects to this trade, the first being the 220 monied covered call with the short call at the -75 delta. I had to route this as two separate trades and got filled for covered call aspect for a 213.35 debit. The same strike short put is...

NaughtyPines Updated 

... for a 5.43 credit. Comments: High IVR/IV at 61.1/113.9. Doing something a little different here, selling the 10 delta short put and buying a put that cuts BPE in about half over doing a naked. Going low delta because, well, the underlying kind of scares the poo out of me. Metrics: Buying Power Effect: 74.57 Max Profit: 5.43 ROC at Max: 7.28% 50% Max:...

NaughtyPines Updated 

... for a 67.44 debit. Comments: This isn't as low as I wanted to get in, but the short call is below where I would've entered would have to have been more patient and waited for 70. In any event, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying...

NaughtyPines Updated 

... for a 61.26 debit. Comments: (Late Post). High IV (67.7% as of Tuesday close) + weakness. Added a "rung" to my existing position at a strike better than what I currently have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power...

NaughtyPines Updated 

... for a 4.51 credit. Comments: High IVR/IV at 62/86.1. Another trade in the same vein as my MSTR trade (See Post Below). Metrics: Buying Power Effect: 55.49 Max Profit: 4.51 ROC at Max: 8.13% 50% Max: 2.26 ROC at 50% Max: 4.07%