Opening (IRA): IBIT February 21st 50 Covered Call
... for a 47.07 debit.
Comments: High IVR/IV (88.4/68.6) + weakness post-FOMC. Going out to February, as there are only 30 DTE left in January, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Looking at this as a "starter" position, so will look to add at intervals, assuming I can get in at strikes/break evens better than what I currently have on.
Metrics:
Buying Power Effect/Break Even: 47.07/share
Max Profit: 2.93
ROC at Max: 6.22%
50% Max: 1.47
ROC at 50% Max: 3.11%
Will generally look to take profit at 50% max, roll out short call on take profit point test.
Comments: High IVR/IV (88.4/68.6) + weakness post-FOMC. Going out to February, as there are only 30 DTE left in January, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Looking at this as a "starter" position, so will look to add at intervals, assuming I can get in at strikes/break evens better than what I currently have on.
Metrics:
Buying Power Effect/Break Even: 47.07/share
Max Profit: 2.93
ROC at Max: 6.22%
50% Max: 1.47
ROC at 50% Max: 3.11%
Will generally look to take profit at 50% max, roll out short call on take profit point test.
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