Anyone trading TQQQ or UPRO? Triple bulls on the qqq and spy.
Good premiums and obviously they whip around a lot but that is the point.
May start another experiment with some of these if no one else trading. Possible ITM CC candidates or sell puts on weeklies then if assigned roll into CC with hope of getting called out.
My only concern is excessive volatility or a sustained down move. I guess then could set up a synthetic short if you were long the stock and buy a few extra puts or buy the inverse SQQQ or SDS.
Thoughts, anyone doing this already?
I tend to not follow any of the Gurus other than tastytrade but this is one chuck hughes is always selling covered calls on. a 4 DTE ATM options holds 1.50 of premium.
11 DTE is going for 2.50 mid point.
#OT @Fuzzball I hope you and all persons in Florida found safe harbor from Irma. My daughter and her beau and pupster bailed on Tallahassee Saturday afternoon getting in here at 2:30 AM Sunday. She showed me pictures of the grad students camped out in their offices at FSU. Things look better. I will hate to see her head back when she goes but it has been a blessing she was able to get here.
Bought to close $LRCX Dec 15 125 put @ .90. Sold for 4.30 (thanks again @jsd501). Taking the 80% off more than 3 months early.
$SVXY #ShortPuts This morning rolled my Covered Sept 15th 85 Calls out to Sept 29th 85 Calls for 1.35 credit.
$SPX #SpxCampaign Afternoon all. This morning I opened an Oct 06th 2525/2545/2370/2350 Iron Condor for 2.10 credit when SPX was at 2480.81. I closed the 2340/2360 remaining Put side of the Sept 29th IC for 0.45.
Sold $VXX Sept 22nd 44 puts for .73. Also short 47 and 45.5 puts. If rally continues tomorrow I will be looking to roll.