STO 9/29 SVXY 50 put at 1.00 in IRA.
More trades and expirations tomorrow and will update the VXX synthetic trade. Still hanging on to a lot of time value because the short call is ATM on SVXY. Was hoping to roll today but will wait until tomorrow.
See @fuzzballl comments below but I think we are on to something. If it closes same as right now tomorrow works out to 2.86% return in 1 week. Carried out 52 times a year that would be awesome, of course not every week will be a winner and there will be a lot of adjustments along the way but theoretically can double money every 6-8 months or so with very little risk. Debit was 16.06 and max risk to downside $1000 on 1 contact. Should be able to reduce cost basis $1-2 each week through call sales.