Closing (IRA): SPX August 6th 3825/3875 Short Put Vert
... for a 2.35 debit.
Notes: Filled for a 4.70 credit (See Post Below) in the triple witching weakness/higher implied volatility environment we had on the 18th; out at 50% max here with 42 days to go. 5.19% ROC for one week's "work." This trade kind of highlights the fact that you want to put these on in weakness and higher implied volatility when you're given the opportunity. If the underlying recovers, you generally get a "one two punch" from the movement away from the setup, plus the volatility crush that occurs in an up move.
Notes: Filled for a 4.70 credit (See Post Below) in the triple witching weakness/higher implied volatility environment we had on the 18th; out at 50% max here with 42 days to go. 5.19% ROC for one week's "work." This trade kind of highlights the fact that you want to put these on in weakness and higher implied volatility when you're given the opportunity. If the underlying recovers, you generally get a "one two punch" from the movement away from the setup, plus the volatility crush that occurs in an up move.
