... for a 192.24 debit.
Comments: Opened this in late Friday's session as it floated to the top of my IV screener with IVR/IV at 106/39.
Sold the -75 delta call against 100 delta of long stock, with a resulting cost basis of 192.24/share. This is to emulate a 25 delta short put and to take advantage of call side IV skew while having "built-in" position defense via the short call. Will look to add at intervals, assuming IVR/IV remains high, generally taking profit at 50% max and defending via roll out of the short call.
Metrics:
BPE/Break Even/Cost Basis in Shares: 192.24
Max Profit: 5.76 ($576)
ROC at Max: 3.00%
ROC at 50% Max: 1.50%
Variants:
Short Put:
May 19th 200 Short Put, 4.65 at the mid, 195.35 (cash secured), 25.70 (on margin). 2.38% ROC at max, 1.19% at 50% max for cash secured; 18.09% ROC at max, 9.05% at 50% max on margin (which is why you stick with the short put on margin; it's more BP efficient).
Synthetic Short Put:
May 19th 110/200 Short Put Vertical, 4.50 at the mid, 85.50 (cash secured), paying .15 to bring in BPE by more than half, 5.26 ROC at max, 2.63% at 50% max.
This would only make sense in a cash secured environment from a BP efficiency standpoint; the naked short put remains more BP efficient on margin than either the covered call or the "synthetic naked short put" spread.
Standard Short Put Vertical:
May 19th 190/200 Short Put Vertical, 2.03 at the mid on BPE of 7.97 (both cash secured and on margin), 25.57% ROC at Max; 12.74% ROC at 50% max.
Comments: Opened this in late Friday's session as it floated to the top of my IV screener with IVR/IV at 106/39.
Sold the -75 delta call against 100 delta of long stock, with a resulting cost basis of 192.24/share. This is to emulate a 25 delta short put and to take advantage of call side IV skew while having "built-in" position defense via the short call. Will look to add at intervals, assuming IVR/IV remains high, generally taking profit at 50% max and defending via roll out of the short call.
Metrics:
BPE/Break Even/Cost Basis in Shares: 192.24
Max Profit: 5.76 ($576)
ROC at Max: 3.00%
ROC at 50% Max: 1.50%
Variants:
Short Put:
May 19th 200 Short Put, 4.65 at the mid, 195.35 (cash secured), 25.70 (on margin). 2.38% ROC at max, 1.19% at 50% max for cash secured; 18.09% ROC at max, 9.05% at 50% max on margin (which is why you stick with the short put on margin; it's more BP efficient).
Synthetic Short Put:
May 19th 110/200 Short Put Vertical, 4.50 at the mid, 85.50 (cash secured), paying .15 to bring in BPE by more than half, 5.26 ROC at max, 2.63% at 50% max.
This would only make sense in a cash secured environment from a BP efficiency standpoint; the naked short put remains more BP efficient on margin than either the covered call or the "synthetic naked short put" spread.
Standard Short Put Vertical:
May 19th 190/200 Short Put Vertical, 2.03 at the mid on BPE of 7.97 (both cash secured and on margin), 25.57% ROC at Max; 12.74% ROC at 50% max.
Trading ditutup secara manual
Closing for 195.00, .12 short of 50% max. 2.76 ($276) profit.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.