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Sold 3345 for $0.90 at 1550 EST when underlying was 3520. Think it was 2.3 delta.
Mine were 3240, 3280, 3300. Seems safe over the weekend! 🙂
@earlyretirementnowcom are you selling earlier in the day or just lower deltas?
@navypack Yes, throughout the day, about equally spaced between 7 am my time and a few minutes before market close my time (Pac Time)
Wednesday Puts at 3380 strike for $1.20 when with underlying at 3550, which was 3 delta (I think). Selling just before close 1554 EST hurts premium.
Finding forum posts useful for posterity and accountability.
After a few months, I start to get nervous for a bad day. Also, still having salary helps me take more risk (higher Delta).
@navypack I sold mine at open because it works out easier for my Australian Time Zone. Unfortunately the market was at 3600+ which meant even at 2 delta or so the strike I sold was 3420.
Higher chance of it getting hit if there's any big vol spikes.
@bob-jane tough, since you end up with 3 DTE trades. Thought you were in Melbourne, so wake up at 7:30 AM before close here on East Coast of US.
However, you can go deeper OOM with extra time.
@navypack I'm in Queensland now so with no daylight savings, so the trading hours are 12:30AM to 7:15AM. Sometimes I do it at open just before I go to sleep, or a couple of hours earlier than close just before I go to work.
Sometimes I do end up getting more OTM strikes trading earlier so I guess sometimes you win, sometimes you lose. Probably evens out over time?
Do you all have preferences as to time of day to set the next expiration strikes? I’m kind of fitting it in wherever. I figure IV and price move randomly enough throughout a single day that it doesn’t really matter much - either pick up an extra couple of bucks in the morning or less time to expiration end of day.
Today around midday my strikes for Friday were 3430 around 3.5 delta. Bit higher delta than I’ve been taking this month to date given the lower IV compared to last week.
@nobatmanjokes I usually spread them out equally into 3-5 trades.
One exception: today's strikes are ITM or close to it. Then I wait until a few minutes before expiration so as to not double the risk.
@earlyretirementnowcom thanks that’s an important caveat! I’d rather not be ~6x leveraged with high deltas for entire days.
Newbie question ... do people post their trades in this forum consistently or just randomly? Either is fine, I am just trying to set an internal expectation.