NaughtyPines

NaughtyPines 23 hours ago

... for a 38.06 debit. Comments: Along with TLT, one of the only red things on my ETF board. Doing a starter position here, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 38.06/share Max Profit: .94 ROC at Max: 2.47% 50%...

NaughtyPines Updated  Mar 24

... for a 48.05 credit. Comments: Adding at a strike better than what I currently have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 48.05 Max Profit: 2.95 ROC at Max: 6.14% 50% Max: 1.48% ROC at 50% Max: 3.07% Will...

NaughtyPines Updated  Mar 24

... for a 35.79 debit. Comments: Laddering out a smidge here, selling the -84 delta call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 35.79 Max Profit: 1.21 ROC at Max: 3.38% 50% Max: .62 ROC at 50% Max: 1.69% Will generally look to take profit at...

NaughtyPines Updated  Mar 24

... for a 66.58 debit. Comments: With /CL dropping sub-70/bbl., putting on a starter position in USO, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 66.58/share Max Profit: 1.42 ROC at Max: 2.13% 50% Max: .71 ROC at 50% Max:...

NaughtyPines Updated  Mar 24

... for a 26.68 debit. Comments: Taking a bullish assumption directional shot near 52 week lows, buying the 90 delta back month and selling a front month that pays for all the extrinsic in the long, resulting in a break even that is at or below where the underlying is currently trading. The 60 long call is shown at 80 so that it fits on the chart ......

NaughtyPines Updated  Mar 24

... for a 17.57 debit. Comments: And back into XRT, which is at/near 52 week lows with a long call diagaonl/Poor Man's Covered Call, buying the back month 90 and selling the front month that pays for all the extrinsic in the long. Metrics: Buying Power Effect: 17.57 Break Even: 67.57 Max Profit: 2.43 ROC at Max: 13.83% 50% Max: 1.22 ROC at 50% Max: 6.92% Will...

NaughtyPines Updated  Mar 24

... for a 56.84 debit. Comments: Looking to be a little bit more buying power efficient here ... . Buying the back month 90 delta and selling the front month that pays for all the extrinsic of the long. Metrics: Buying Power Effect: 56.84 Break Even: 141.84 Max Profit: 6.16 ROC at Max: 10.84% 50% Max: 3.08 ROC at 50% Max: 5.42% Will generally look to take...

NaughtyPines Updated  Mar 20

... for a 17.91 debit. Comments: At or near 52 week lows. Buying the back month 90 delta and selling the front month such that it pays for all the extrinsic in the long, with a resulting break even that is at or below where the underlying is currently trading. The Sept 19th 50C is shown at the 65 strike so that it appears on the chart. Metrics: Buying Power...

NaughtyPines Updated  Mar 20

... for a 43.91 debit. Comments: Adding, but at lower delta and at strikes better than what I currently have on, selling the -84 delta call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 43.91 Max Profit: 1.09 ROC at Max: 2.48% 50% Max: .55 ROC at...

NaughtyPines Updated  Mar 19

... for a 39.93 debit. Comments: Adding to my position at strikes better than what I currently have on, selling the -84 delta call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 39.93/share Max Profit: 1.07 ROC at Max: 2.68% 50% Max: .54 ROC at 50%...

NaughtyPines Updated  Mar 14

... for a 43.24 debit. Comments: Adding to my position at break evens better than what I currently have on, but going a little bit less aggressive net delta-wise, selling the -84 delta call against shares to emulate the delta metrics of a 2 x expected move short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even:...

NaughtyPines Updated  Mar 14

... for a 23.63 debit. Comments: Adding to my current position at strikes/break evens better than what I currently have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 23.63 Max Profit: 1.37 ROC at Max: 5.80% 50% Max:...

NaughtyPines Updated  Mar 14

... for a 12.95 debit. Comments: High IVR/IV. Adding at strikes better than what I currently have on, selling the -81 call against shares to emulate the delta metrics of a 19 delta short put, but with the built-in defense of the short calls. Metrics: Buying Power Effect/Break Even: 12.95/share Max Profit: 1.05 ROC at Max: 8.11% 50% Max: .53 ROC at 50% Max:...

NaughtyPines Mar 3

... for a 76.56 debit. Comments: After taking off my iron condor for a loss, structuring a covered call such that the max profit potential is greater than the loss experienced by the nondirectional of 13.11. Metrics: Buying Power Effect/Break Even: 76.56 Max Profit: 13.44 ROC at Max: 17.55% Will generally look to roll out the short call out and/or down and...

NaughtyPines Updated  Mar 3

... for a 2.16 credit. Comments: High IVR/IV earnings announcement volatility contraction play. Metrics: Max Profit: 2.16 Buying Power Effect: 3.84 ROC at Max: 56.3% 50% Max: 1.08 ROC at 50% Max: 28.2%

NaughtyPines Feb 27

... for a 28.28 debit. Comments: Adding at strikes better than what I currently have on. Selling the -84 delta call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 28.28/share Max Profit: .72 ROC at Max: 2.55% 50% Max: .36 ROC at 50% Max: 1.28% Will...

NaughtyPines Feb 27

... for a 15.68 debit. Comments: Laddering out a smidge here, selling the -84 delta call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 15.68 Max Profit: 1.32 ROC at Max: 8.42% 50% Max: .66 ROC at 50% Max: 4.21% Will generally look to take profit at...

NaughtyPines Feb 27

... for a 32.13 debit. Comments: High IVR/IV. Selling the -84 delta call against shares to emulate the delta metrics of a 2 x expected move 16 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 32.13/share Max Profit: 1.87 ROC at Max: 5.82% 50% Max: .94 ROC at 50% Max: 2.91% Will generally look to take...