NaughtyPines

OPENING (IRA): SPY MAY 21ST 260 SHORT PUT

NaughtyPines Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
... for a 2.73 credit.

Notes: Targeting the short put strike in May paying at least 1% of the strike price in credit. Roll up intraexpiry at 50% max with > 45 days until expiry; pull off on approaching worthless and/or sell call against if assigned.
Trade active:
With the 260 nearly at 50% max, rolling it up to the May 21st 295 for a realized gain and a 1.50 credit. Total credits collected of 4.23. ROC at max %-age now at 1.45% as a function of notional risk.
Trade active:
Although the 295 isn't at 50% max yet, rolling up on weakness (and higher vol) to the 309 strike for a .72 credit. Total credits collected of 4.95. ROC at max now at 1.63% as a function of notion risk.
Trade active:
Rolling the May 309 to the May 331 for a realized gain and a 1.26 credit. Total credits collected of 6.21. ROC at max now at 1.91% as a function of notional risk.
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