re: Calling all Traders

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anyone sell naked strangles?

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I’ve got one running on NFLX. They’re rough on margin, but yeah, they can be pretty profitable. Me, I don’t short straddles. Call it a vol phobia.

It’s funny that you had 252.5 as your short call strike on LULU. That’s what I loaded into the paper trade on a 252.5/262.5 short call spread. Woulda/coulda/shoulda. Just didn’t have any confidence in what I knew about the underlying.

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What do you use to determine the strikes you sell? Delta or income or something else?

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i'd say all of the above..

my goal is for potential profit to be ~50% of what i'm risking..
i like for profit to be at least 1% of my total kitty.
i prefer to risk to more than .5-1% of my kitty on any one trade.

if selling i prefer 45 days or less....not enough time decay longer

buying is opposite.

i dont ignore deltas..
but i simply label buy/sell zones off(quarter/weekly/195m) charts
..and place strikes a below(or above) those zones

...i prefer to stay at least ~1 standard dev (no more than 16 delta) from price.






for naked puts i'll sell exactly at support...
covered calls/dividend capture.. i sell itm

simply by (not) ignoring support&resistance zones imo allow winning at up to 2 stand dev rates while selling 1 standard dev contracts.

at least for me..
is easier reaching financial goals selling uncertainty or binary events such as earnings announcements.

(also) at least for me.. the price for the increased profit potential is much lower win rate(~75% compared to 90%+ you see trading the SPY) and significantly more exposure to drawdowns than i'd prefer.
...but as long as the win rate is over 66%...all is good.


all that said i'm not a pro..
..i'm just a hobo that that spends half his time floating aimlessly on a sailboat.

everything i write may be complete BS.

SBUX and IRBT surprised me (and not in a good way). They’re settling back down, so I’ll probably close them before the close. Looking at another iron condor on AMZN.

Thinking about doing something with ORCL and/or ADBE on earnings just before the close.

Iron Condor Orcl. .20 net credit filled...



Also will use the net credit to purchase 2021 calls

I got 139 put for next week. Lets let it dive more.

any thoughts on NKE?

would like to place a condor before closing... but i dont see any resistance on that think.

looks like it could easily breakout.

thats actually good to know..

i placed the call side at a single StandDev...
much more room to work on the downside (i placed the put @ 92.5)

Think I am holding through earnings. Red to green day makes me think big guys pushed it down this morning to weed people out. Hope I am not being too greedy

following the same information or just looking at the same stuff?