OPENING (IRA): XLE NOVEMBER/DECEMBER/JANUARY 26/27/28 SHORT PUT

... ladder for a total of 2.17 in credit.

Notes: 30-day implied at 39.47% with expiry-specific implied at 43.4%, 42.9%, and 43.4% for November, December, and January, respectively. Current yield of 6.71%, so am fine with taking on shares and covering or just keeping the premium.

Transaction en cours:

Adding in some January at the 24 strike, for a .74 credit on this weakness and with IV remaining high (30-day at 42.6%). Total credits collected: 2.91.

Transaction en cours:

With 30 day at 45.3% and expiry-specific at 42.1%, adding in some February at the 23 strike for a .61 credit on continued weakness. Total credits collected of 3.52.

Transaction en cours:

Going out to March to sell some more 23's for .87 (17 delta), which is around the 2020 lows, with 30-day at 48.9% and expiry-specific at 44.0%. Total credits collected of 4.39.

Transaction en cours:

Out of the November 28P for .11 today; scratch at 4.28 with the resulting setup: December 18th 27P/January 15th 24P/January 15th 26P/February 19th 23P/March 19th 23P.

Transaction en cours:

Out of the December 27P for .08; the January 24P for .14; the January 26P for .15; the February 23P for .18; and the March 19th 23P for .19. Total credits received of 4.28 - .08 -.14 -.15 -.18 -.19 = 3.54 ($354) total profit.