NaughtyPines

Opening (IRA): SPY October 15th 270 Short Put

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
... for a 2.77/contract credit.

Notes: Part of a longer-dated strategy initially targeting the strike paying at least 1% of the strike price in credit. I haven't got anything out in October yet (199 days), so am selling there. Will roll to the 1%-paying strike at 50% max up to 45 days until expiry, after which I'll manage on approaching worthless or, if assigned, sell calls against my shares.
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