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I am curious, what are your fees?
Tom, yes those are huge dollar amount if we are doing naked puts. One would have to have a considerable size account. I like to talk about assignments, you mention with a spread, in your example, is $2,500. Is this automatic, or does one have to instruct your broker. Could we look at bad times, where you had to roll. How did you handle that? Thanks. Alvin
I believe you use Schwab, does Schwab provide separate tax info to take advantage of the tax advantage. Also on assignment, will Schwab automatically offset the short with the long put, or do I need to make a phone call and give instructions.
Thank you. I see, you want to round to $25.
Tom,
Where was the SPX at when you entered the trade. What would be the cut off on the VIX for it to be consider high or low? I see you provided the Delta, how does it play a role in determining the strike?
If I used end of day SPX price for 12/24, using your 4.6% OTM, I would have used the $3535/$3560. Was my assumption correct?
Thanks,
Alvin
Tom, thank you. Do you wait till Friday to place a trade for next Friday. Could you provide examples of your trade the next few weeks for me to follow along. Once again, Thank You. Alvin
Tom, let’s start another thread. I want to get a better grasp of your concept. Thanks. Alvin
Tom, Mark got back to me and I found it. Could you provide an example of a spread of interest to you. Thanks. Alvin
Tom. ok, will do. Thanks. Alvin
Tom, I can’t seem to find the option prices on SPX. I am on Schwab.com. That’s interesting re 0% tax rate on long term capital gain on SPX. Alvin
Teddi, what did you mean “double-dip trades.” Thanks. Alvin
Teddi, thanks for your outlook and idea. Alvin
I rolled 10/23 85s to 11/6 82s for a credit of .21, I bought the 11/6 65s for .06.
Hello all, I am holding 4 contracts. Thanks for idea. Alvin
Thank you all. I found the bookmark. Alvin
Thomasj,
NO commission for buying to close for .40 or less. Lot of times, when I sto, I am getting less than .25 a contract for a week, that would be big saving for me if I was to do a lot of btc for like .10.
I am currently using Schwab. They charge me .50 per contract, plus fees (which is minor). There no per contract fee for btc .05 for less.
I definitely will contact call the Fidelity Rep back and clarify the commission fee. I been meaning to sell all my mutual funds in my IRA and start selling put options to prepare for RMA. I may even move all accounts over to Fidelity.
Of course, I am going to see if I can get Schwab to come down to .25 per contact, if that is true with Fidelity.
Thanks for the info.
Alvin
Teddi, I was going to bookmark the article. I don’t see where I can bookmark. Am I not seeing it. Thanks for finding the article. Alvin
Yes, I got a little bit more money. It’s nice to see what other members are doing. I am hoping this will expire worthless. While I do prefer rolling out a week at a time, because I am hoping to lower the strike price each time. In this case, I get to go out to October v staying in September, where it seems like it is down everyday. I have not taken any additional positions the last 2 week. I am just rolling and hoping my trades I am holding expire out of the money. Here is to hoping we get an up day tomorrow, Best of luck to you. Alvin
Thomasj, do they allow you to buy to close at .05 or less commission free. I was think about opening a trading account at Fidelity.
I had a change of heart. I rolled mine 112.50 to 10/2 107.50 for a net of .35. I hate going 2 weeks out.
I haven’t done anything with mine. I will see how it plays out in morning.
Teddi thanks for the suggestion. I am going to let this play out. It’s still out of the money. I am always hoping for the best. Alvin
No Iphone mentioned. What a disappointment. Now will $112.50 hold for this Friday.