Posted by DigiNomad on 6th of Oct 2022 at 02:23 pm
I don't sell options naked unless I'm actually looking to enter
at a discount (own the stock). Even when I used to sell naked
options regularly, it was only selling strangles (short calls and
puts at the same time). Naked options have a huge hit to
buying power. I didn't care as much before, but now my monthly
interest earned is not insignificant, so I want to keep my margin
levels as low as possible. I will put on a "risk reversal"
every once in a while, sell a naked put to finance a naked call,
but that's still only when I'm willing to own something
outright...which is rare.
Posted by DigiNomad on 6th of Oct 2022 at 02:42 pm
SPX - I put on a few of these condors yesterday. Up 8% ish so
far today, but iron condors are like watching paint dry for the
most part...until one side gets challenged (always happens, these
days). Then the real action begins.
Posted by DigiNomad on 6th of Oct 2022 at 03:04 pm
Trade profile for SPX trade. Return potential was more like 32%
when I put it on.
P&L section based on exit on or about Nov 1st. *I
assume that I will have to adjust one side. I'm not hoping it will
stay in the middle for max profits. It takes some work to squeeze
the juice out of these things.
Posted by DigiNomad on 6th of Oct 2022 at 02:55 pm
Mundy - I'm chicken, that's why iron condors. I hate losing
money. I keep about 90% of my account in cash most times. Actually
my cash is higher than my net liq value but that's because I'm
primarily a premium seller. The 10% is my risk on the table.
Because I use so little capital, when one side of condor gets
challenged, I'm able to roll out and down to give it more
time...but I like to roll down and double at least once in the same
month before I roll out...otherwise I'm giving up that months
income. The doubles get expensive quickly though. I only
trade index options with this strategy. I don't want to deal with
single stocks where going to zero is even a small
probability.
You've got the right idea
TSLA - I was looking to press short in my ...
Posted by tradeit007 on 6th of Oct 2022 at 02:12 pm
You've got the right idea by selling premium. Wish I had the stones to sell naked options.
I don't sell options naked
Posted by DigiNomad on 6th of Oct 2022 at 02:23 pm
I don't sell options naked unless I'm actually looking to enter at a discount (own the stock). Even when I used to sell naked options regularly, it was only selling strangles (short calls and puts at the same time). Naked options have a huge hit to buying power. I didn't care as much before, but now my monthly interest earned is not insignificant, so I want to keep my margin levels as low as possible. I will put on a "risk reversal" every once in a while, sell a naked put to finance a naked call, but that's still only when I'm willing to own something outright...which is rare.
SPX - I put on
Posted by DigiNomad on 6th of Oct 2022 at 02:42 pm
SPX - I put on a few of these condors yesterday. Up 8% ish so far today, but iron condors are like watching paint dry for the most part...until one side gets challenged (always happens, these days). Then the real action begins.
thanks for sharing, I'm always
Posted by matt on 6th of Oct 2022 at 02:48 pm
thanks for sharing, I'm always interesting to see various option strategies besides just simple buying a call or put
Trade profile for SPX trade.
Posted by DigiNomad on 6th of Oct 2022 at 03:04 pm
Trade profile for SPX trade. Return potential was more like 32% when I put it on.
P&L section based on exit on or about Nov 1st. *I assume that I will have to adjust one side. I'm not hoping it will stay in the middle for max profits. It takes some work to squeeze the juice out of these things.
This particular trade is up
Posted by DigiNomad on 7th of Oct 2022 at 04:00 pm
This particular trade is up $173 today (if you bought 1 lot yesterday)
Now that's cool
Posted by simple_million on 6th of Oct 2022 at 03:06 pm
Now that's cool
You are brave to trade
Posted by mundy on 6th of Oct 2022 at 02:48 pm
You are brave to trade Iron Condors in this market. I know the volatility gives very wide strikes but this is not for me. Good luck
Mundy - I'm chicken, that's
Posted by DigiNomad on 6th of Oct 2022 at 02:55 pm
Mundy - I'm chicken, that's why iron condors. I hate losing money. I keep about 90% of my account in cash most times. Actually my cash is higher than my net liq value but that's because I'm primarily a premium seller. The 10% is my risk on the table. Because I use so little capital, when one side of condor gets challenged, I'm able to roll out and down to give it more time...but I like to roll down and double at least once in the same month before I roll out...otherwise I'm giving up that months income. The doubles get expensive quickly though. I only trade index options with this strategy. I don't want to deal with single stocks where going to zero is even a small probability.
Thank you!
Posted by tradeit007 on 6th of Oct 2022 at 02:41 pm
Thank you!