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In your case,do not leg out... Bid mid,slightly over and if that doesnt work go Market.. How do you get into the trade in the first place?? Limit,Market or Leg?

So you are put the stock when its above the strike?? Tell me how you get long stock via short OTM puts with the stock higher

Hes got to be to get the returns hes getting in a super low vol enviorment.. And hes selling in names which he deems fundamentally strong.. Hes cash secured and doesnt care if he owns the stocks,so its hard to really fault his strategy Interesting that the majority of his returns come from...

Two positives...The OP is trading this strategy cash secured(no leverage) and he certainly appears to be a good stock picker.. Whats interesting is his biggest gains comes from stocks that are his initial losers,not from the winners from expiring puts.

So you are saying the biggest gains come from the stocks that you have been "put"(wrong on) and sold OTM calls against?? You sell weekly puts,when wrong, get assigned and then sell an OTM call above the initial strike of the put sold even though the stock is lower???? YIKES

Do you know how your stock performance is relative to put selling?? And you are not leveraged...

1 year Sharpe on the SPY is 2.35..Doubt YTD is much different..Yours is sub 2 That's my point If you aren't using leverage, you are having an awesome year.. What market cap are you trading??

Cmon bro..... He/she is selling puts nude,possibly levered at increasingly cheap vol No mention of risk/money management other than selling calls when assigned... Anytime someone goes from trader of weekly's to investor with limited to no upside when wrong is going to get negative vibes

Congrats,the S&P is up 21% YTD,with an apx 5 percent max drawdown.. You are up 2.5 times the index,with a 4x max drawdown... Funny how leverage(or beta)works in a straight up bull market

StockRover.com

You were 1 out of 8 on your never to do list.Now you are 1 of 9..

If I was Asian,I would be very offended ,but you get a one day pass as your thread makes it pretty clear you aren't dealing with a full deck:)

Im confident that your outstanding like to post ratio of 70 percent is about to get crushed after this thread/last post P.S. Notice you did not mention doubling down after a bad thread...i mean trade

You should "Never say Never" :) If you are trading gamma (mainly long)1 and 2 have no bearing.. 3 and 4 are easy to backtest.. No comment on 5 as I am mercifully not forced into short gamma trades any more. 6 is a layup I personally trade better when revenge trading,which probably speaks...

The obvious answer is the embedded short vertical is overpriced by whatever measure one chooses to value expected return. I do it all the time on OTM flies with what I believe ( hope) is positive skew delta..Often,the 1x2 stands on its own but the far wing provides my beauty sleep and cuts...

If you are long gamma,you MAY catch some exaggerated moves in the after hours

Quantshare

Hi, Hate to sound like a Monday morning quarterback,but what prompted you to put the SPX fly on?? Don't love the risk reward(paying 40 percent of max profit),haven't looked at theta/gamma and I would be suprised if there was any skew edge.. Unless vol is jacked,I am not a,big fan of ATM flys

I havent looked at SPX futures/fowards in years,and definetly not in this rate enviorment.. From a market makers perspective, all I needed to know is where the embedded calendar traded. Now that you pointed out the calendar discount/backward pricing ,it makes a bit more sense that the "fly"...

Hmmmmm You are in the Sept/21 600 - 2300- 2830 1x3x4 call fly and long the June/23 / Sept/21 600 calendar spread for an 18.10 debit?? For shits and giggles,where are you pricing the calendar?? Not sure why you are long the time spread or trading the calls as your pricing is wishful...