OPENING (IRA): MJ MARCH 19TH 16 SHORT PUT (LATE POST)
... for a .71/contract credit.
Notes: With 30-day at 75%, and expiry-specific at 73.9%, opened a 20 delta short put in the weed ETF using my phone app. 4.65% ROC at max as a function of notional risk. As usual, will take off on approaching worthless or -- if in the money -- look at rolling out for a credit or taking assignment of shares and selling call against (whichever pays more).
Notes: With 30-day at 75%, and expiry-specific at 73.9%, opened a 20 delta short put in the weed ETF using my phone app. 4.65% ROC at max as a function of notional risk. As usual, will take off on approaching worthless or -- if in the money -- look at rolling out for a credit or taking assignment of shares and selling call against (whichever pays more).
Trade closed manually
Out for .14/contract here; .57 ($57) profit per contract. 80% max with 38 days to go. IV remains high here, with 30-day at 90.5%, but it's done a ripper off late Jan lows.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.