fuzzballl 7:02 am on Thursday, March 25, 2021
Tags: ShortPuts ( 4,763 )

SPY

#ShortPuts – Adding to the ladder.

Sold SPY MAY 21 2021 355.0 Put @ 4.10

jsd501 7:11 am on Thursday, March 25, 2021

How is the ladder going? Are you making good money on the puts?
- fuzzballl 7:25 am on Thursday, March 25, 2021
  
  The paper one I started last June has been great. I was planning an update at the one year mark. Not a single position rolled yet. In my real accounts (today’s trade) I’ve been doing it a little differently. Keeping all sales in one expiration and selling lower and lower strikes. The paper one is one position in every available expiration going out 7 weeks.
  - jsd501 5:28 am on Friday, March 26, 2021
    
    I wonder if it would work for the QQQ and which one would be better? Thanks for posting it again. I cannot figure out how to save something on Google for more than 30 days so I printed it out.
    - fuzzballl 6:08 am on Friday, March 26, 2021
      
      QQQ seems reasonable. Maybe I’ll run one of those too for awhile. With the Nasdaq so high this would be a good time for a test. Might get a chance to see how it does in a pullback. My SPY experiment started after the covid selloff so haven’t got a real chance to play with it during an implosion.
- fuzzballl 7:30 am on Thursday, March 25, 2021
  
  This is pretty much what the paper ladder has looked like the entire time. Close when around 20 cents and sell new when they become available. Using half the account with a disciplined plan of adding on any big implosions.
  - MikeL 10:46 am on Thursday, March 25, 2021
    
    Do you trade it as cash secured or on margin?
    - fuzzballl 3:32 pm on Thursday, March 25, 2021
      
      All cash secured. It’s a long term experiment I started last spring. Sort of an experiment and a training exercise for a friend. He has a big account so the entire thing is based on simple, easy to follow trades based on cash secured with an approximately 1.2 milion account size. Of course this could be scaled down to about anything just using less expirations. I’ll look for a link to my original post.
    - fuzzballl 3:34 pm on Thursday, March 25, 2021
      
      Here you go. For some reading when you’re really bored! LOL
      
      https://bit.ly/3dmR8jV
  - Hawk 3:16 pm on Thursday, March 25, 2021
    
    I’d love to hear your entry criteria, any consideration for strike selection, IV etc…
    - fuzzballl 3:32 pm on Thursday, March 25, 2021
      
      I’ll look for a link to my original post.
    - fuzzballl 3:34 pm on Thursday, March 25, 2021
      
      Here you go. For some reading when you’re really bored! LOL
      
      https://bit.ly/3dmR8jV
jefflsmith 8:05 am on Thursday, March 25, 2021

Trying similar approach with IC’s. The first one came off this week and isn’t in the numbers. It did hit 50% of max profit. The first one was too big….it had 20 contracts….second picture is the cumulative profit (realized and unrealized). Will fill in between Apr 30 and May 21 when they are available.