OPENING (IRA): GLD OCT/NOV/DEC 164/168/172 SHORT PUT LADDER

... for a 5.69 credit total.

Notes: Amazingly (or not), I have no gold in my retirement account.

Although I feel I'm somewhat late to the game, taking up a position here in an instrument with excellent options liquidity. For smaller accounts, consider SLV, which also has the added benefit of having higher background implied (SLV: 69.4% versus GLD: 26.4%) or one of the miners (GDX, GDXJ).

As with my other acquisitional setups, run to expiry/approaching worthless and if assigned shares, proceed to sell call against.

การซื้อขายยังคงดำเนินอยู่:

Out of the October 172 rung for .23 today; scratch at 5.69 - . 23 = 5.46 on the remainder. IV isn't great here at 22.3%, so will probably just let the remainder run its course and consider reestablishing rungs if we get an IV expansion.

การซื้อขายยังคงดำเนินอยู่:

One thing I do like about GLD versus SLV is its strike to strike "granularity." Due to SLV's size, one strike inevitably seems to be too aggressive, with the next one over not aggressive enough, so although GLD doesn't provide as much bang for my buck as SLV, I added in a January rung at the close on this little bit of weakness here at the 161 strike for 1.64. 30 day IV at 23.3%; expiry-specific at 22.8%. Total credits collected of 7.10.

การซื้อขายยังคงดำเนินอยู่:

Minor implosion here ... . Added in a December 165P and a January 162P for 2.50 total. Scratch at 9.60 with the resulting setup: November 168P/December 164P/December 165P/January 161P/January 162P.

การซื้อขายยังคงดำเนินอยู่:

Out of the November 20th 168 for .35 here with 10 days to go; scratch at 9.25.

การซื้อขายยังคงดำเนินอยู่:

Adding in some February 155P for a 1.37 credit on this weakness, with the resulting setup: Dec 164P/Dec 165P/January 161P/January 162P/Feb 155P, scratch at 10.62.

การซื้อขายยังคงดำเนินอยู่:

Out of the Dec 164 for .18 and the Dec 165 for .21 today, leaving me with the January 161P/January 162P/Feb 155P. Scratch at 10.23. It's bounced quite a bit off that late November 166.03 low. I think I'll wait for some more weakness before considering adding.

การซื้อขายยังคงดำเนินอยู่:

Cleaning up a little more profitable January cycle stuff ... . Here, closing the Jan 161P and the Jan 162P for a total of .35, leaving me with the February 19th 155P. With 53 DTE left to go in that puppy, rolling it up to the February 19th 166 for a .74 credit. Scratch at 10.23 - .35 + .74 = 10.62.

ปิดการเทรด ด้วยตนเอง:

And out of the last rolled leg of this ladder -- the February 19th 166, for .27. Total profit of 10.62 - .27 = 10.35 ($1035). Still have a 163P out in March.