Rolling (IRA): SPY September 17th 358 Short Put to October 15th
... 373 for a 2.06 credit.
Comments: Doing mechanical rolling at 50% max in a longer-dated strategy in SPY. With the September 17th 358 currently valued at 1.69, rolling out to the October monthly to the strike paying at least 1% of the strike price in credit. Here, that's the 373, currently paying 3.75. Total credits collected to date: 9.01 + 2.06 = 11.07 versus a current short put value for the October 373 of 3.75, so I've locked in 11.07 - 3.75 = 7.32 ($732). Looked at another way, my cost basis in any shares assigned from the 373 contract will have a cost basis of 373 minus total credits received of 11.07 or 361.93.
As with all my other short puts, I'm fine with being assigned shares, selling call against should that occur.
Comments: Doing mechanical rolling at 50% max in a longer-dated strategy in SPY. With the September 17th 358 currently valued at 1.69, rolling out to the October monthly to the strike paying at least 1% of the strike price in credit. Here, that's the 373, currently paying 3.75. Total credits collected to date: 9.01 + 2.06 = 11.07 versus a current short put value for the October 373 of 3.75, so I've locked in 11.07 - 3.75 = 7.32 ($732). Looked at another way, my cost basis in any shares assigned from the 373 contract will have a cost basis of 373 minus total credits received of 11.07 or 361.93.
As with all my other short puts, I'm fine with being assigned shares, selling call against should that occur.
