SOXL Put credit spread exp Feb 16, 2024
Since the New Year started SOXL has declined hard
Straight into a -1 sig anticipated support around 25.
Which is also a weekly level from 7/14/2023
There seems to be a jump over at VWAP around 28 which is also the daily close from 12/20/2023.
The bet here is that it stays in the 22-31 range and the fresh Weekly supports at the red lines hold.
It could keep pushing down but that would be a bigger timeframe decline and price has already held VWAP from the Nov 2023 anchor.
I anticipate that if the big trolling orders are down at 21, then it could attract price down there.
But that's why I'm at 22, so I can roll out if that happens, probably not down if it inverts.
But if it ranges around 21, then maybe I roll it out and down to 20 or 19.
Symbol SOXL
Open Date 1/5/2024
Put or Call Put
Expiry Date 2/16/2024
Short Strike 21
Long Strike 19
Price to Open 0.55
Min Width Multiple 4
Risk Ratio 2.64
Return on Risk 37.9%
Opening DTE 42
1 Day ROI% 0.90%
Max Annual ROI % 329.6%
Buyback to Close
Open to Roll
Closing % Cost on Opening Credit
Net Roll % on Opening Credit
Closing Date
Closing Price
Closed Margin ROI %
Closed Annual ROI %
Straight into a -1 sig anticipated support around 25.
Which is also a weekly level from 7/14/2023
There seems to be a jump over at VWAP around 28 which is also the daily close from 12/20/2023.
The bet here is that it stays in the 22-31 range and the fresh Weekly supports at the red lines hold.
It could keep pushing down but that would be a bigger timeframe decline and price has already held VWAP from the Nov 2023 anchor.
I anticipate that if the big trolling orders are down at 21, then it could attract price down there.
But that's why I'm at 22, so I can roll out if that happens, probably not down if it inverts.
But if it ranges around 21, then maybe I roll it out and down to 20 or 19.
Symbol SOXL
Open Date 1/5/2024
Put or Call Put
Expiry Date 2/16/2024
Short Strike 21
Long Strike 19
Price to Open 0.55
Min Width Multiple 4
Risk Ratio 2.64
Return on Risk 37.9%
Opening DTE 42
1 Day ROI% 0.90%
Max Annual ROI % 329.6%
Buyback to Close
Open to Roll
Closing % Cost on Opening Credit
Net Roll % on Opening Credit
Closing Date
Closing Price
Closed Margin ROI %
Closed Annual ROI %
Was 2 days late selling to open it but the leg down in Jan 2024 was really frigg'n strong and I didn't want to step in front of a bus without some kind of 15min chart confirmation.
37% return on risk, 329% annualized return
Anyone who says selling insurance is boring, clearly is not spending what they make selling it to have fun.
And yes, every trade I publish publicly is a REAL $$ trade.
I will never disclose position size, but these are all live trades.
I do not publish my 0DTE trades because Tradingview is a pain in the ass about it being too short a timeframe, but I''m thinking about it.
#### SOXL put credit expires worthless
Symbol SOXL
Open Date 1/5/2024
Put or Call Put
Expiry Date 2/16/2024
Short Strike 21
Long Strike 19
Price to Open 0.55
Min Width Multiple 4
Risk Ratio 2.64
Return on Risk 37.9%
Opening DTE 42
1 Day ROI% 0.90%
Max Annual ROI % 329.6%
Buyback to Close
Open to Roll
Closing % Cost on Opening Credit
Net Roll % on Opening Credit
Closing Date 2/16/2024
Closing Price 0.00
Closed Margin ROI % 37.93%
Closed Annual ROI % 329.64%