.... for a .67 ($67)/contract credit.
This and $GDX are currently probably the highest implied volatility exchange-traded funds, so I'm just selling a little premium here without taking on the upside risk that doing a strangle would entail.
That being said, I'm fairly sure I don't want to be put GDXJ at 45 (lower would be preferred for a long position), so I will watch it and roll down and out to an expiry in which I can get a credit for the roll in the event price poses a threat to the short put ... .
This and $GDX are currently probably the highest implied volatility exchange-traded funds, so I'm just selling a little premium here without taking on the upside risk that doing a strangle would entail.
That being said, I'm fairly sure I don't want to be put GDXJ at 45 (lower would be preferred for a long position), so I will watch it and roll down and out to an expiry in which I can get a credit for the roll in the event price poses a threat to the short put ... .
Comment:
Selling the 56 short call against for an additional .73 ($73)/contract credit, making it into a 45/56 short strangle. The reason I'm doing this is because I want to sell a short put in TEVA and don't want to have too much naked put out there in the event of a market downturn ... .
Trade closed manually:
Covering here for a 1.05 db; legged into for a total of 1.40 in credit; out for 1.05; $32 net profit/contract. Intended to hang in there until at least until 50% max, but have my eye on other stuff that the buying power can be used on ... . GDXJ also isn't the most liquid bugger in the world.