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Hate making trades on 60 pt up day, especially when index is on upper Bollinger band. Go deeper at 2.5 delta, skip a day, or standard rules?
Monday trade...3280 strike for 1.05 at 3.5 delta (underlying 3407) is current plan at 1545 Eastern
My strikes were between 3230 and 3265 for a premium between 0.75 and 1.00.
Underlying between 3386 and 3405, throughout the day between 10:46 and 15:46 Eastern time.
Got dicey today for a bit, but closed a good way off the low. I sold the 3240 strike at the close for $1.4.
Been good strategy recently, but feel the uncertainty out there is higher than VIX is showing. That being said, my faulty brain is likely not better than the collective brain of the market.
What are thoughts on shutting down the put selling strategy until after the US election?
Sold the 3170 strike earlier today, about an hour before close. I'm not pausing the strategy until the election, but I'm choosing lower deltas than what I used to. Making a little money is still better than making none.
My strikes: between 3160 and 3205. Should be OK for Wednesday! 🙂
Again, in light of the election uncertainty and the big pile of profits so far this year, I'm taking smaller bets. Premium 0.70-0.80 instead of the usual 1.00