Rolling (IRA): IWM September 10th 203 Short Put to September 30
.. 201 Short Put for a 1.27 credit.
Comments: I originally opened this for 2.02. (See Post Below). With only .68 left in it (>50% max), I'm rolling it down and out to the 16 delta strike in expiry nearest 45 days until expiry to reduce risk a smidge relative to where the underlying is currently trading. I'm opting to do this versus adding additional units, which I'll reserve for greater weakness.
Total credits collected of 2.02 + 1.27 = 3.39 versus a current short put value of 1.98, so by doing this I realize a gain of 3.39 - 1.98 = 1.41 ($141).
On a side note, I still have the September 3rd 198's on. I initially considered rolling those out in time as well, but would've rolled from the 198's to the 201's in the September 30th expiry as I did with these (i.e., not a strike improvement), so opted not to do that here, but rather just leave them alone for now and wait to either take them off on approaching worthless or -- if given the opportunity -- roll them down and out as well.
Comments: I originally opened this for 2.02. (See Post Below). With only .68 left in it (>50% max), I'm rolling it down and out to the 16 delta strike in expiry nearest 45 days until expiry to reduce risk a smidge relative to where the underlying is currently trading. I'm opting to do this versus adding additional units, which I'll reserve for greater weakness.
Total credits collected of 2.02 + 1.27 = 3.39 versus a current short put value of 1.98, so by doing this I realize a gain of 3.39 - 1.98 = 1.41 ($141).
On a side note, I still have the September 3rd 198's on. I initially considered rolling those out in time as well, but would've rolled from the 198's to the 201's in the September 30th expiry as I did with these (i.e., not a strike improvement), so opted not to do that here, but rather just leave them alone for now and wait to either take them off on approaching worthless or -- if given the opportunity -- roll them down and out as well.
