Option Iceman 7:09 am on Tuesday, January 4, 2022
Tags: DoubleDip ( 110 )

XLV Puts

Sold XLV Jan 07 2022 136.0 Puts at $0.37 and $0.42
A second write against some long March puts.
#DoubleDip

Option Iceman 7:36 am on Tuesday, January 4, 2022

Added a new diagonal spread in XLV
Bought 1 XLV Mar 18 2022 111.0 Put at $0.36
Sold to Open 1 XLV Jan 07 2022 136.0 Put at $0.48

XLV Top 3 Holdings
UNH (8.49%), JNJ (8.32%), PFE (6.11%)
- Hawk 8:57 am on Tuesday, January 4, 2022
  
  For this type structure with a stock, do you form an opinion first on where the stock will be, or pure theta decay play? curious how you select the long strike
  - Option Iceman 9:21 am on Tuesday, January 4, 2022
    
    Put XLV in the search window in Bistro and see my post from Dec 20th where I did the first spread.
    I look at the chart to see where I want to write the short, then I try to find a long position trading for less money that I can buy and get multiple re-writes against.
    The first sale pays for the long.
    All re-writes are pure profit.
    - Hawk 1:06 pm on Tuesday, January 4, 2022
      
      Thanks!

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