Conservative option strategies, what did you buy or sell today?

[fenders53]

My VSTO earnings beat prediction came a quarter early. Thanks Qanon!

Feeling cute today. Might push my luck and sell near the money puts one more time. I need to raise my price target. Can I just make up a new number like a real analyst?

EDIT: Didn't happen. Got busy with APD in absolute freefall this AM and missed my few minutes to sell new VSTO puts. Wish my long position was larger as it is up 60% since fall. I'll have to be patient.

[fenders53]

Closed out another HD put for the third time in about a week. This time for about 98% gain in five days. One of my better options weeks in a while with the volatility. Went with a contrarian play for now. USD is up and gold is hated. Gotta have a thesis and mine is we are about to start spending and printing money. Gold has a good enough floor in it after the recent drop. It's not rational right now. It rarely is when the market goes "risk on" mode. Sold GOLD (Barrick) puts from 3-5 weeks out in the 21-21.50 strike range. Average premium is about 3% so that works. Especially since it's intended to be a hedge which I am light on currently. I'll do another round of puts if these get in the money. Gold is barely 1% of my port currently so this is a conservative enough play.

[crimsonghost747]

I'll definitely take a look at that trade you just made. Sounds interesting enough and I definitely need new ideas.
I couldn't grab a conservative LHX put despite my best effort, so I ended up.. you know... doing crazy.

This doesn't belong in a "conservative option trades" thread but I did just sell a U put today. And earnings come in after today's close. Awesome premium, good downside protection ($120 strike) and as you guys and gals know I love the company. I'm just not sure if they will do well enough to justify this pretty insane valuation.

I guess we will know tomorrow.

[vbin]

Sold a jfrog $55 Feb 19th put for $85.

[fenders53]

(02-04-2021, 01:23 PM)crimsonghost747 Wrote: I'll definitely take a look at that trade you just made. Sounds interesting enough and I definitely need new ideas.
I couldn't grab a conservative LHX put despite my best effort, so I ended up.. you know... doing crazy.

This doesn't belong in a "conservative option trades" thread but I did just sell a U put today. And earnings come in after today's close. Awesome premium, good downside protection ($120 strike) and as you guys and gals know I love the company. I'm just not sure if they will do well enough to justify this pretty insane valuation.

I guess we will know tomorrow.

Don't for a minute think that I am properly hedged for this market.  I am not IMO.  You buy puts and the timing isn't right the money is gone forever.  SPY or you're favorite stock you think will surely crash this month, and if the bull continues to run you lose.  Gold has a small part in my game.  It doesn't turn into zero in a month.  If invested in a major miner it rots and pays a small div until the next run which may be years later.

I'll grab some SLV when the fall continues from the fake internet forum induced rally.  It's still much too high to be as safe as gold.  I watch the trading ranges like any other sector.

[vbin]

My Jfrog put seem to be expiring worthless. Kinda running out of good ideas on puts in this market.

[fenders53]

It's tougher than it was a week ago. I will get my full list to you but most of them need a down day or two. I almost never sell puts on overbought stocks. It ends bad way too often. BMY looks good here but I don't want to own 1000 shares so no more contracts for me.

[vbin]

What bmy u looking at? $58 02/26 going for $52

[fenders53]

(02-09-2021, 01:00 AM)vbin Wrote: What bmy u looking at? $58 02/26 going for $52

Not a bad choice. I push my luck on BMY with near the money because I'd like more shares.  I have sold 58-60 every couple weeks for 6 months.  Usually on a down market morning when the VIX spikes a bit.  i.e. aggressive last week and patient this week.

Same deal with RTX.  When it's much under 70 it's high on my radar.  Completely fine with more shares.

I diversify my put sales like any other purchase because that might be how it ends.  I wouldn't buy 2000 shares of restaurants or banks on the same day.

[vbin]

Sold above BMY out for $54.

[fenders53]

(02-09-2021, 11:52 AM)vbin Wrote: Sold above BMY out for $54.

I like it. APD is in my range today as well but I already have a put sold in the money.  Very little else that I watch is in the range.  Don't push trades and never sell a put on a stock you aren't OK with owning for months at the very least.  I'll keep saying that until you are sick of hearing it.  Discipline matters always.

[fenders53]

I guess it's time to close short puts again today. Getting harder to find places to redeploy but it's a good problem.