... for a .98 credit.
Metrics:
Max Profit: $98/contract
Max Loss: $202/contract
Break Evens: 167.02/192.98
Delta/Theta: -3.59/1.24
Notes: Keeping things simple ... . Rotating into broad market in the July cycle and selling premium in the underlying with the highest background implied out of SPY, IWM, QQQ, and DIA. Collecting nearly one-third the width of the wings and will look to manage intratrade by rolling the untested side toward current price on side approaching worthless with a profit target of 50% of max (one-half of .98 or .49/$49).
Would've gone with a weekly nearest 45 days 'til expiration, but only the June quarterly (38 days) and the July monthly (59 days) were available, so went with the monthly.
Metrics:
Max Profit: $98/contract
Max Loss: $202/contract
Break Evens: 167.02/192.98
Delta/Theta: -3.59/1.24
Notes: Keeping things simple ... . Rotating into broad market in the July cycle and selling premium in the underlying with the highest background implied out of SPY, IWM, QQQ, and DIA. Collecting nearly one-third the width of the wings and will look to manage intratrade by rolling the untested side toward current price on side approaching worthless with a profit target of 50% of max (one-half of .98 or .49/$49).
Would've gone with a weekly nearest 45 days 'til expiration, but only the June quarterly (38 days) and the July monthly (59 days) were available, so went with the monthly.
Trade active
Rolling the 192/195 short call vertical to the 183/186 on approaching worthless for a .56/contract credit; scratch at 1.54.Trade active
Rolling the put side up on side test to delta balance to the 172/175 for a .21 credit; scratch at 1.75.Trade active
Rolling the put side up to delta balance to the 177/180 for a .22 credit; scratch at 1.97.Trade closed manually
Closing here for 2.74, a .77 loser. As with my other July QQQ trade, looked at closing the short put side, rolling the short call side out, and selling a new put side against, but it was not net credit productive, so taking the loss, moving on.
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.
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.