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Just occasionally. i trade 3x a week.
With IV crunching, are folks still sticking around 4-5D or playing more conservative?
I've been down near 3-4 delta since the election. Not a fan of lowering VIX.
Totally randomly like others mentioned. Today we’re seeing a lot lower volatility than most of this year so those 5 delta strikes are moving closer to the price. I’d bet a lot of people here are going to be lower delta maybe until covid is really over.
Sold a Wednesday 3510 Strike for 1.10 with 10 minutes before close with SPX at 3620. Think was 4 delta. Trying to post more of these.
Another lesson is to pay attention to closing time around holidays, since I missed Friday sell and had to buy more risky spread this morning.
@navypack I was about 5 min before close with a 3495 at 1.05. Surprised I got a fill at that price. It’s down below 1 delta now so I’ve sold another at 3550 (3 delta) this morning for about 0.6.
Same, I missed the holiday close so I sold 3490 at $1.50 to try and make up for the lost premium. In hindsight, it was a risky move but it has paid off so far.
@bob-jane so far I have resisted the urge to make up for lost time - say if I have an unexpected work meeting or something. Glad it worked out!
It seems I’m back to targeting just over $1 for the Wed and Fri strikes. Sold at 3550, 4 delta at 1.05 about 45min before close today. Believe the index was around 3666. 3x leverage, 3 666s, can’t be ominous at all...