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Within 5 minutes of close, sold puts expiring on Feb 3rd and underlying SPX around 3775.
Strike 3575 for $1.65 as 3 delta
Strike 3475 for $0.65 as 1.3 delta
Account is getting bigger, so selling the second put with a much lower value, which I hope offsets the risk of raising leverage from 2x to 4x.
**correction**
The 3575 strike at 3 delta should be $1.35.
Wrote 3535 for 1.00
Sold within 5 min of close the 2/5 expiration at 3690 strike for $1.25 with 3.7 delta. Underlying was around 3833.
Not a big fan of the VIX dropping, which is causing these <5% buffers. Going to start building out that VIX ladder I think.
@ap42 Agreed! Selling for 5xVIX at 200 points below market feels way better than 5xVIX when 120 below market. Two days is a long time!!!
IV > VIX > realized Vol
Think I'll wait until VIX is under 16 before I build VOL hedge, but interested in @earlyretirementnow.com ideas.