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Premiums look really low today with VIX currently at 18 and the index shooting to all time highs. Whats everyone's strikes today?
@fi4wanderlust low volatility and a 3 day weekend means I am waiting until right before close. It’s only a long weekend for market expirations and not for most people so I feel like there’s a higher chance of something moving by Monday than Xmas or New Years. I have not looked to see if that’s true in the data though...just from experience you get similar dips in short term IV during those holidays.
I ended up doing the 3905 strike at 0.50. 2 Delta
@fi4wanderlust on an ES right? Which would be about the equivalent of 3010 or so for an SPX right now.
If we get to the point where the puts to sell at $1 are within 1% of the index I might buy some leaps instead...
SPX...once I've gotten a few put sales under my belt then I plan on adding on one ES. Yea, if VIX continues to trend down then we will probably have to do 1-1.5% of the index to generate normal premiums.
Interesting day to sell after the long weekend! Where are folks ending up? I sold 3960 for $1 following my rule of taking lower premium on big up days. Would have preferred to wait until close because of the relatively lower IV, but I can’t be in front of it at that time. At least VIX is up from Thursday’s close.
My 4/5 expiration is way OTM so I decided to sell a same day expire for .30. I will wait till closing to sell a 4/7 expire and target around 2 delta .70 prem which will match your $1 prem.
Since 4/5 was way OOM, sold 4/7 this morning for $1.35 with 3960 Strike. Might sell another in tomorrow.
