Opening (IRA): SPY August 30th 486 Covered Call

16 lip

... for a 481.76 debit.

Comments: Re-upping in SPY in slightly longer duration, but with the short call at about the same delta as the one I took off, resulting in a lower buying power effect and break even with the primary goal being to milk a little more out of August before moving onto Sept.

Again, un-sexy metrics as a standalone trade:

Buying Power Effect/Break Even: 481.76
Max Profit: 4.24
ROC at Max: .880%
50% Max: 2.12
ROC at 50% Max: .440%

19 lip

Zlecenie aktywne

As with my QQQ monied, reducing risk while taking advantage of juicier premium due to the increased IV while simultaneously increasing my max and max ROC %-age: rolled the August 30th 486 to the Sept 20th 480 for a 7.64 credit (i.e., a credit that exceeds the amount of strike improvement). 474.12 break even; 5.88 max; 1.24% ROC at max.

26 lip

Zlecenie aktywne

Reducing risk and setting myself up to grab the Sept divvy ... . Rolled the Sept 480 to the Nov 15th 455 for a 28.39 credit (a credit that exceeds the width of strike improvement). Break even now 445.73; 9.27 max; 2.08% ROC at max. Tbh, I fat fingered the roll, intending to roll to only the October monthly, so will probably take profit post-ex divvy/reset if the opportunity presents itself.

26 lip

Uwaga

Just to give you an idea of what I'm trying to do here with these. Generally speaking, I want to set these up on fill with a +25 net delta metric and take profit on the entire setup (stock + short call) at 50% max. Here, I'm somewhat risk adverse in the short to medium term, so am looking to maintain net delta somewhat lower and/or reduce risk if the market gives the opportunity to do so. These opportunities will occur when the market trundles lower, IV expands, risk premium becomes richer, and my short call aspect is in profit.

The current net delta of this position is around 16 (15.38, to be exact). This gives me more of a buffer in the event of a sell-off and, in fact, puts my break even somewhere below where we started off the year.

30 sie

Zlecenie zamknięto ręcznie

Closing for a 450.05 credit here. 4.32 ($432) profit. .96% ROC. Will look to re-up in Oct here shortly (the roll out to Nov was a fat finger ... ).