SVXY rolled 10/6 78 put to extra week for 0.60 credit. I figure as long as I can roll each week for 0.50 or so will wait for roll up until we get a pull back, maybe someday.
Cost basis now 12.12 and 17.2 depending on lot.
The diagonals work on the high vol. products. Does not work as well for spy/qqq as it used to. Infact the leaps are priced with higher vol so hard to make up the theta decay by selling weeklies. Up 4k+ on 8k initial investment so 50% return in 6 weeks but this ticker I think it makes more sense just to go synthetic long on a vol. spike.
However this is an ongoing experiment so will continue it until the end but I may set up another batch on the next vol spike and see how the synthetic long without selling weeklies works.
Options Bistro 