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Sold one Strike for 3530 at 1000 EST for $1.35 and one Strike for 3685 at close/for $1.55.
The 10yr treasury is making lots of waves these days, and there is a new auction on Wednesday (3/10). I hope for high VIX on Monday (3/8), so there is a nice margin of safety.
Oh and BAF is killing my overall performance, but with rates going up that makes sense.
Sold 3730 this morning expiring today and 3655 near close for Wednesday. Premiums were elevated slightly yet last Friday’s were looking safe this morning.
On 3/10, sold one Strike for 3760 at 1430 EST for $1.25 and one Strike for 3740 at the close for $0.75.
Selling lower delta as I transition to 2 contracts per MWF, since 3.8x leverage is a little risk. Still feel like I need to think more about this transition. I'm sort of selling 2*3delta versus 1*5 delta, but likely better plan.
@navypack I lean the collateral away from preferred stock and towards the non-levered munis if overall leverage is higher. Then depending on the current volatility I either slightly reduce my daily premium target or sell one normal premium and one reduced.
@navypack thought of another approach: you can sell one and then be more aggressive to sell a second when it’s going your way.
Friday trades: Sold a same-day put with strike 3860, when the index was at 3925. Then Monday puts with strikes at 3775-3810. Easy money, I hope! 🙂
On 3/17, sold one Strike for 3820 at 1433 EST for $1.40 (Friday AM close) and one Strike for 3855 at the close for $1.30 (Friday PM close).