Opening: /ES August 19th 2100 Short Put
... for a 3.50 credit.
Comments: A small, low risk engagement trade while I wait on trades ... . Targeting the strike that is at least 25% below where /ES is currently trading and that routes for around 3.00. 1.75 max* on buying power of around 20.58, 8.58% ROC at max.
* -- It's only 1.75 max because /ES -- unlike SPY -- has a 50x multiplier (instead of a 100x multiplier) so if your options table, for example, says that the trade is going to route for a 10.00 credit, it actually only ends up routing for half of that or 5.00.
Comments: A small, low risk engagement trade while I wait on trades ... . Targeting the strike that is at least 25% below where /ES is currently trading and that routes for around 3.00. 1.75 max* on buying power of around 20.58, 8.58% ROC at max.
* -- It's only 1.75 max because /ES -- unlike SPY -- has a 50x multiplier (instead of a 100x multiplier) so if your options table, for example, says that the trade is going to route for a 10.00 credit, it actually only ends up routing for half of that or 5.00.
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