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Crazy! War in Europe and the market is up?! I have two sets of strikes for Friday: 4070 and 4075 (sold early on Wednesday) and 3990 and 4000 (sold late on Wednesday). Looked really scary this morning but if the S&P stays up today, that would be nice.
Wild ride, though...
@earlyretirementnowcom Right there with you at 4000 and below. This relief rally doesn't give much comfort. Really cautious of selling tomorrow on an up day and getting clipped on another strong down leg later. Though past experience has it that these tough days lead to better outcomes. If I'm too exuberant is when the market turns around and sticks it to me.
@earlyretirementnowcom I saw on late Wednesday night, interactive brokers said the 4090 put for Friday traded 57.00! Obviously it was a margin call on someone with too much leverage, hopefully it wasn't anyone in here.
Sold half of the puts this morning at 3750 and 3850. A few more trades to go, but the strikes will likely be closer to 3950-4000. Still seems pretty safe with the index at 4300+.
@earlyretirementnowcom sold 3925 Put for $2.40 (got greedy) at a ~3 delta early in the trading day (1015 Eastern).
FOMC meeting this Wednesday. Probably a lot of vol until then. I sold the 3875 strikes while the S&P is around 4180.
@earlyretirementnowcom looking good so far...i sold at 2:35 Eastern the same 3875 for $1.60.
Whew! Hopefully no one took an L today with their strikes. My 4465 put was 13 points ITM at the bottom today but luckily it rebounded back up to expire worthless.
Sold 4/8 4335 put near closing for $75.
Took a small loss on Wednesday, but not too bad. Just felt bad when I sold near the close on Monday with not enough safety margin.
@navypack Likewise. Also took a small loss on Wednesday. Only lost about one week's premium.