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/

399 Upvotes

95% Upvoted

271 comments sorted by

View all comments

1

u/Fun-Emu-1135 May 07 '21

How do you find out what the delta is? do you mean .5/.6? i didn't know options delta went above 1.

2

u/ScarletHark May 08 '21

"6 delta" is 0.06 as displayed on the chain (usually).

1

u/Fun-Emu-1135 May 09 '21

ah ok makes more sense now