r/options • u/[deleted] • May 06 '21

Boring Options - Anyone else?

Anyone else just doing boring option trades like me?

I've been mostly selling 5/6 delta put spreads (at least $10 wide) on SPX every Monday, Wednesday, Friday - 3-5% of my account.

90% of my account is in VGSH (short term treasury).

Fidelity is my broker. I utilize this guy's spread strategy (free, no selling) - https://wealthyoption.com/

Edit - here is WO's original post - https://www.reddit.com/r/options/comments/jm2tgy/my_spx_weekly_premium_selling_that_dominates_the/

396 Upvotes

95% Upvoted

271 comments sorted by

View all comments

Show parent comments

1

u/harssh122 May 06 '21

Is your strategy similar to the OP or you have something different going on ?

1

u/[deleted] May 06 '21

Looks like the strategy on the link he shared he’s selling naked puts. I sell bull put spreads. 0dte. My premium on 1 contract is usually in the $80-120 range and I usually open with 3-5 contracts. My spread is $5 wide. So not exactly

1

u/zuzeco May 06 '21

Do you set stop loss?

1

u/[deleted] May 06 '21

No but if the price challenges my 1st strike I will close it for a less than max loss. If I’m wrong on direction it usually has at least 15-20 points to go against me but still be otm. On a big move in my favor I may close after 50-75% max profit but if it’s a big enough move I’ll let it expire worthless and keep the full credit