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Finally got a chance to get serious selling some puts yesterday. Probably too early like always but the opportunities have been brief for months.
TGT BMY HD (2) ALE (3)
All but ALE EXP 2/5 and fairly close to the money. I have a lot of puts expiring 2/19 and it's too much to manage.
I need some tech exposure if I sell anymore today. May close some of my boring puts early if the underlying doesn't get hammered at the open.
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I will try one soon. I know I am stuck in my comfort zone of being on the option sell side 99%. Much of the reason
is my significant assets are in Waterhouse and I am limited on option activity due to their trading interface. At some point I may move some assets. Not long ago I needed to maintain a very large balance for large fee discounts. That is probably not true anymore.
Congrats on the NEE trade. Flat quarter and choppy market made that one work fast. Love it when these trades work out in days.
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For better or worse I bought to close 75% of the puts I sold yesterday for a 60%+ profit. They'll likely expire worthless but my don't be greedy instinct kicked in.
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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.