With the VIX going down and the SPY going down too I expect a bit of bounce back on Monday so I sold some naked puts.
But there were a few opportunities on the call side too, such as MOS, TGT, which both have rallied a fair bit.
So what's my final trade for the week?
#AMD ( #AmericanMicroDevices ) again.
The beauty of options trading is that you can set up and close the same deal as many times as the market gives it to you. In regards to AMD, my today's trade was the third trade but each of them were slightly different.
As we can see it on the below diagram, I played the $105/135 strangle on 24/03/2022, the $95 put on 01/04/2022 and now the $75 put. Because of the price fluctuations, my longest position was the $135 call, which lasted 6 days.
Today, I went super conservative with this trade as the earnings is approaching and I didn't want to get caught so I sold the May $75 put, which was pretty much the major support line from mid 2020 to mid 2021, looking at the monthly chart.
The stats
Trade Type: Short Put
Strike: $75
Expiry: 20 May
Delta: 8.3
IV Rank: 73.2
Premium: $0.98
Cap Req: $750
Annualised Prof at Expiry: 114%
Time to exit with a bit of profit.
Closed at $0.72 for an annualised profit of 115%.
It took a bit longer to get out of this trade but if anyone gave me a deal that generates over 100% annualised then I would sign up for it any time.