Opened (IRA): SPY October 21st 333 Short Put

... for a 3.35 credit.

Comments: Having stripped quite a bit of long delta off and given the fact that I still have short delta hedges on, adding back in some long delta in longer duration, targeting the <16 delta strike paying around 1% of the strike price in credit (since SPY is no longer paying in shorter duration with IV dropping sub-25 here).

Naturally, if we get another pop in volatility, I'll wade back into shorter duration stuff, assuming SPY is paying; otherwise, I'll reserve shorter duration buying power for the other two broad market ETF's that ordinarily have higher IV than SPY -- IWM and QQQ. Alternatively, I'll look to instruments with high correlation with the broad market to dip my toe in (e.g., XLK (.97 3-month SPY correlation) or SMH (.90 3-month SPY correlation).