sellingoptions


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I rolled the Call Options from $19 to $22. To close, paid $6.30 from $6.00 premium received [loss $90]. To open position at $22, sold at $4.80. Obviously the value of the stock rose to the current $21.67, so the position has become highly profitable at the moment. I also benefit from the Puts, which will likely expire at $0.00.

 

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SRPT options are sitting at 400%+ IV. There must be an earnings [or some other announcement] that is pending.

I still have 327 shares. So I sold 3 options at $19 strike at $6.oo each option! I also sold 3 Puts at $10.oo for $2.15, as at that price, I’ll buy 300 shares of the stock. For June, this position looks to be very profitable already.

Therefore, if the stock were to drop to $10.oo [or below] I would actually purchase 300 shares at $1.75/share [less any loss below $10.oo].

While this is a very volatile stock, there is opportunity here regardless of whether you actually hold stock. Even opening a new position in the stock is feasible here with IV so incredibly high.

The sold Options expire today. I have 100% profit on both positions.

I will be selling SPY September Expiry SPY PUTS @ $102.oo and CALLS @ $153.oo. They are naked, as I will trade the position in stock should they expire ITM. Both positions are for 4 contracts.

Today I sell premium on the following Options:

January Calls 4 contracts @ $153.oo @ $1.60
January Puts 4 contracts @ $102.oo @ $0.17

I’ll be starting to track these out of the money Option trades, which will be based on the longer term newsletter position in SPY.

I will be selling SPY September Expiry SPY PUTS @ $102.oo and CALLS @ $153.oo. They are naked, as I will trade the position in stock should they expire ITM. Both positions are for 4 contracts.