SPDR S&P 500 ETF Trust
Giá lên

Opened (IRA): SPY Oct/Nov/Dec/Jan Short Put Ladder

207
... for a 13.52 credit total.

Comments: A slightly different deployment approach, dispersing risk across expiries and strikes, rather than bunching up all my risk with multiples in one expiry (e.g., a 4 x October 21st 356). Here, targeting <16 delta strikes in successive expiries paying around 1% of the strike price in credit. You can do a maximum of four different strikes with any given order, so can either leg into these one strike at a time or look to get filled for the entire four leg kit-and-kaboodle. The alternative way to look at laddering out is as an acquisitional strategy where you're looking to acquire shares at increasingly lower prices if they present themselves.

Since I'm going to manage each of these "rungs" separately, here's what I got paid for each leg:

3.65 for the October 21st 356
3.24 for the November 18th 335
3.41 for the December 16th 320
3.22 for the January 20th 300

Generally, I'll look to roll out a month at 50% max, whenever that occurs. Alternatively, if monied toward expiry, I'll compare and contrast rolling out (with or without strike improvement) versus taking assignment of shares and selling call against.

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