I closed out the May 155 calls today for .03 - I planned on closing them at .05 but waited another day to see if I could get a lower price. With the release of the stress test at 5pm, I didn't want to take the chance that the markets takes off tomorrow. For a cost of $30, I don't mind taking that risk off the table. I plan on placing a June put trade soon - hopefully in the next day or two some downside momentum comes back into the market and increases premiums. I am feeling better that the March lows wont be re-tested so I may put on a 100 - 104 strike trade. I'm also thinking that in order to save on commissions, I may sell the NDX (MNX's big brother - the MNX is 1/10th of the NDX). Selling 1 NDX put costs me 1.25. So if I wanted to sell 15 MNX contracts I would pay $18.75, but if I sold 1 NDX and 5 MNX options, I would pay $1.25 plus $6.25 or a total of $7.50, saving $11.25 in the process.
Index level: 138.98
Buy to close: 10 May 09 155 Call
Cost to close: .03
Initial Margin req.: $3,410.00
Commission: $0.00
Net debit: $30.00
Profit: $147.50
Days open: 22
Simple return: 4.33%
Yield: 71.84%
% to ITM: 11.53%
Year End Summary – 2021
3 years ago
2 comments:
Hi,
What is MNX and what is trading symbol?
Bob
MNX is 1/10th the size of the Nasdaq 100 Index (NDX). The NDX and MNX are cboe products and much info on them can be found at www.cboe.com. The Nasdaq 100 is an index of the highest capitalized non financial equities trading in the nasdaq. I use thinkorswim and the symbol for each is just mnx or ndx. I used to use tdameritrade (whixh actually just bought thinkorswim) and if I remeber correctly you had to enter in a "$" sign before "mnx" or "ndx". You can just email your broker and they will provide you with the symbol particular to that broker, but mnx and ndx should be the symbols you can use.
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