NaughtyPines

NaughtyPines

... for a 3.91 credit. Comments: Back into the semiconductor ETF, where I don't have a position on currently. Going comparatively low delta, with the short options camped out at the 17 delta on both sides and the wings about 1/10th the price of the underlying in width. Metrics: Max Profit: 3.91 Buying Power Effect: 21.09 ROC at Max: 18.54% 50% Max: 1.96 ROC at...

NaughtyPines Updated 

... for a 34.33 debit. Comments: Starter position on weakness/high IV in lieu of the less liquid URTY. 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 Effect/Break Even: 34.33/share Max Profit: 1.67 ROC at Max: 4.86% 50% Max: .84 ROC at 50%...

NaughtyPines Updated 

... for a 47.07 debit. Comments: High IVR/IV (88.4/68.6) + weakness post-FOMC. Going out to February, as there are only 30 DTE left in January, 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. Looking at this as a "starter" position, so will look to add at...

NaughtyPines Updated 

... 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 1.43 credit. Comments: An additive delta adjustment trade. With the short call of the setup I put on Friday (See Post Below) at -20 delta and the short put at 29, layering in an iron condor with the short call at the -28 delta and the short put at the 20 delta to flatten out net delta of the entire position. This is skewed slightly short to offset...

NaughtyPines Updated 

... for a 5.44 credit. Comments: At 42 DTE, selling premium in the semiconductor exchange-traded fund here with a neutral assumption ... . Using wings that are 1/10th of the price of the underlying in width. Metrics: Max Profit: 5.44 Buying Power Effect: 19.56 ROC at Max: 27.8% 50% Max: 2.67 ROC at 50% Max: 13.9% Will generally look to take profit at 50%...

NaughtyPines

... for a 1.50 credit. Comments: High IVR/IV. Doing a little delta neutral premium-selling stuff while I hand sit and wait for stuff to come in/be managed. Metrics: Max Profit: 1.50 Buying Power Effect: 3.50 ROC at Max: 42.9% 50% Max: .75 ROC at 50% Max: 21.4% Will generally look to take profit at 50% max, roll in untested side on side test.

NaughtyPines Updated 

... for a 39.56 debit. Comments: This ... is unwinding. Adding at strikes/break evens 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 Effect/Break Even: 39.56/share Max Profit: 2.44 ROC at Max: 6.17% 50%...

NaughtyPines

... for a 1.13 credit. Comments: I'm fairly certain that I'm going to be assigned on my January 17th 26 short put, so am going out to October to sell a spread with the short leg at the 26 strike that pays at least 1.00. The reason I do this (sell a call for at least 1.00), is that this enables me to roll the short call down a strike by 1.00 without giving up...

NaughtyPines

... for a 31.17 debit. Comments: Still in the top 5 underlyings for IV on my ETF board, with 30-day at 35.0%. Adding at strikes better than what I currently have on after exiting the 33's at 50% max. 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...

NaughtyPines Updated 

... for an 87.50 debit. Comments: Adding at strikes/break evens better than what I currently have on ... . The ROC metrics aren't what I generally like to see out of these (2.0% or greater), but it's shorter duration than my usual wheelhouse (45 DTE) ... . Metrics: Buying Power Effect/Break Even: 87.50 Max Profit: 1.50 ROC at Max: 1.71% 50% Max: .75 ROC at...

NaughtyPines Updated 

... for a 32.29 debit. Comments: ETF IV > 35% with 30-day currently at 39.7%. Adding to my position at strikes better than what I currently have on, 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. Dinking and doinking on "little stuff" running into year's end ......

NaughtyPines

... for an 80.60 debit. Comments: Laddering out at strikes better than what I currently have on (Feb 87's, March 84's). 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 calls. Plus, gotta be in shares to grab that divvy. Metrics: Break Even/Buying Power Effect:...

NaughtyPines

Here, starting to break my EWZ position (See Post Below) into its constituent pieces. The first piece involves shares I acquired way back at 31.65/share. (Ugh). Rather than go back and calculate trade to date break even, I'm going out far in duration to sell the short call at or above my break even. Sometimes, you have to go way longer dated than you'd like,...

NaughtyPines

A "refresh" of a fairly long-running cash flow setup, with the cash flow emanating from (a) short call premium and (b) dividends. As of the 12/18/24 dividend, my break even is at 85.81 (including dividends). (See Post Below). One of my New Year's resolutions is to be a little more patient and roll out the short call on approaching worthless, targeting the short...

NaughtyPines

... for an 82.72 debit. Comments: Laddering out into 2025 at strikes/break evens better than what I currently have on, looking to snag January, February and potentially March dividends ... . Metrics: Buying Power Effect/Break Even: 82.72/share Max Profit: 1.28 ROC at Max: 1.55% 50% Max: .64 ROC at 50% Max: .77%

NaughtyPines Updated 

... for a 230.52 debit. Comments: Mostly in this to attempt to grab the annual divvy ... . Last year, it was 1.04/share, but it has been widely variant from year to year (e.g., 2.40 in 2022; 1.57 in 2021; 1.50 in 2020). Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with built-in short call...

NaughtyPines Updated 

... for a 66.72 break even. Comments: Dinking and doinking on USO at /CL <$70/bbl. Metrics: Buying Power Effect/Break Even: 66.72 Max Profit: 1.38 ROC at Max: 2.07% 50% Max: .69 ROC at 50% Max: 1.04% Will generally look to take profit at 50% max; add if I can get in at better break evens/strike prices.