VZ is into a level of tested demand
Sold 42 DTE, Nov 19, 11.59% AROI, 4.24% from underlying price
Yield at strike is a decent 4.78% which is way over the US10Y hurdle rate by 3x
It's pushing below the Feb 2021 spike low, but it seems to be very passive selling to me the past 6 months.
Lots of back filling and retracing to push lower. Like a robot is just refreshing the offer lower.
Trend on the daily is absolutely Down.
But it's into Previous demand and 53.40 level is where I see -1 sigma value where algos could step in to buy.
I don't mind being long VZ outright, but I like the idea of bidding for 52.50 even better.
Because if it goes to 51.55 I split the difference.
It's a down day into new lows and that's the best time to sell put premium, so I did.
Sold 42 DTE, Nov 19, 11.59% AROI, 4.24% from underlying price
Yield at strike is a decent 4.78% which is way over the US10Y hurdle rate by 3x
It's pushing below the Feb 2021 spike low, but it seems to be very passive selling to me the past 6 months.
Lots of back filling and retracing to push lower. Like a robot is just refreshing the offer lower.
Trend on the daily is absolutely Down.
But it's into Previous demand and 53.40 level is where I see -1 sigma value where algos could step in to buy.
I don't mind being long VZ outright, but I like the idea of bidding for 52.50 even better.
Because if it goes to 51.55 I split the difference.
It's a down day into new lows and that's the best time to sell put premium, so I did.