#SPX1dte Sold to Open $SPX Sept 18th 3225/3245-3435/3455 condors for .95, IV 25.8%, SPX 3353, deltas -.06,+.06
I love the issuance of new LEAPs. The process of price discovery is in its infancy, and nobody quite understands fair value (I certainly don’t!). An EWZ ATM 7 DTE straddle (my selling vehicle du jour) can generally be sold for roughly $1.25.
If I look at my current asset to sell straddles against – the Jan 2022 $27 call / $37 put strangle which cost $16.70, I just closed that out for $16.10 and then BTO the Jan 2023 same strike strangle @ $18.75.
So I get 52 weeks additional selling opportunities at around $1.00 (being conservative) for an extra $2.65. That seems to imply that 3 winning weeks of straddle sales pays for the strangle extension.
Maybe XMAS does come early?
#SPX7dteLong Bought to Open $SPX Sept 23rd 3315/3335-3345/3365 condors for 17.55, with SPX at 3338.
BTC September 25, 90 puts at 1.10, sold at 4.05
I may not have another trade until after the election.
Bought to open Jun 18 2021 10.0 Puts / Sold Sep 25 2020 23.50 Puts @ 0.07 Credit.
Looking to add to my stable of “free” 2021 long puts
CC Bull engulfing and high for the year today. Broke thru top Bollinger Band too.
TRADES: Fools rush in where angels fear to tread. ;>)
AAPL BTO STOCK @109.68
VMW BTO STOCK @142.24
VMW BTO STOCK @141.25
VMW BTO STOCK @141.80
VMW BTO STOCK @142.35
Bought to open 12/18/2020 80.0 Call @ 0.70
Bought to open 12/18/2020 70.0 Call @ 0.90
So I guess the 09/18/2020 calls I sold this morning covers part of the cost of these.
NIO is looking like a good stock for CC strategy. Lots of volatility on the stock, good premiums on the options. 8.9% return in 29 days…..so far. Had 1,000 shares called away at $17.50 and replaced them and doubled down with 2,000 shares and covered with Sep 18 $18.
Rolled Sep-18-2020 58 #Covered Calls // Oct-16-2020 @1.65 Credit.
Sold Oct. 16, 10 put for .26. On Oct. 15 I will receive a dividend payment of .01 for my underwater shares!
Defensive roll down to protect what has been a profitable trade over the past 123 days. $3200 was down to $2 offering minimal downside protection. Over the past two weeks I have rolled down from $3400 to $3300, $3200 and now $3000. Roll downs have helped ….much more fun rolling up!
Sold VXX Sep 18 2020 28.5 Calls @ 0.23
Sold VXX Sep 18 2020 29.0 Calls @ 0.17
VXX open 25.73