Assigned 500 @ 23 Assigned 500 @ 21.5 Just sold 5 AUG9 contracts @ 18. I'm currently down around 5k not including premium collected.
Not working out so great? Discount arb. MARA. No f*ckery, zero volshift. 1W/2W. 200 delta at inception. Downside BE at maturity is 15.1.
No this is pretty much the way the accumulation phase looks for me I was probably a bit early, but I got paid well for the 23 put due to earnings. I should be able to get .80 for a 21 call which would bring down my break even to 20.59. I would rather keep the shares so I will have to pick strikes accordingly. I will def look at doing a fly on Monday...what do you think about the stock repair strategy? btw can you give me the laymen translated version of these? 40 contracts, $2900 on regular margin rules.... Zero volatility shift? 1/2 wide downside break even at expiry is 15.1
The wheel is substituting the natural for the synthetic in CC. I don't get the interest. SP to buy-write -> win on assigned buy-write or keep writing as stock drops after 1st assignment. I've done a few short puts in the last 20Y and only bc I needed to be cash-secured in a IRA.