rdavi37741
3 posts
msg #120091
- Ignore rdavi37741
modified |
5/26/2014 2:39:16 PM
I sell weekly puts on good stocks two weeks from expiration. Generally I sell them at the 1 SD strike price which gives me about an 85% probability of keeping the premium.
It has worked very well for me over quite a bit of time. I have read Kevin_in_Georgia's piece and it is helpful. While he use the ATR instead of SD it seems comparable although I would like to be able to use the 1 SD I'm used to.
Use Finviz to screen for companies over 10 Billion in market capitalization, average volume over 2 million shares traded, low short float, an analyst rating of buy or better, optionable and weekly volatility over 3%
Go through them all to see what stock have weekly options
Generally I use the Chaiken IPod app to measure quality.
Check to be sure earnings aren't coming up in the next few weeks
Use TastyTrade (Dough) to get the 1 SD point, probability of profit and return on capital
Look at each stock to guage support and resistance.
Use the Stocks+ app to check for the Max Pain figure. ( I like the Max Pain to be above the 1 SD)
Put all of this in a spreadsheet
I then select 3-6 each week using some personal judgement.
My biggest problem in Stock Fetcher is obtaining the options premium.
This really is time comsuming and I'd like to automate as much as possible. Any help out there? This is what I've come up with (Thanks Kevin)
symlist(aa,aal,aapl,abt,abx,can,adm,aet,afsi,agnc,agu,aig,akam, s,alxn,amd,amgn,amrn,amt,amzn,amzn7,anf,anr,aol,apa,apc,apol,aria,arna,athn,atvi,avp,axp,ba,bac,bax,bbby,bbry,bby,bhi,bidu,biib,bk,bmy,bp,brcm,btu,bx,c,cat,cbs,celg,cf,chk,cl,clf,cmcsa,cmg,cme,cmi,cof,coh,cop,cost,csco,cree,crm,
crus,ctrp,ctsh,cvx,czr,dal,dd,ddd,de,deck,dg,dhi,dis,dish,dndn,dow,drys,dvn,ea,ebay,emc,eog,eqix,esrx,etfc,etn,expe,exxi,f,fb,fcx,fdo,fdx,feye,ffiv,flr,fosl,fslr,gale,ge,gg,gild,glw,gm,gmcr,gme,gnw,googl,goog,gps,grpn,gs,gt,hal,hca,hd,hes,hfc,hlf,hon,hpq,hum,ibm,icpt,intc,invn,ioc,ip,isrg,jcp,jnj,jnpr,joy,jpm,kbh,kgc,kmb,ko,kors,kss,line,lly,lng,lnkd,low,lulu,lvs,m,ma,mbi,mcd,mcp,mdlz,mdt,met,mgm,mmm,mnkd,mnst,mo,mon,mos,mpc,mpel,mrk,mro,mrvl,ms,msft,mtg,mu,mygn,nav,nbg,ne,nem,nflx,nke,nly,nok,nov,nq,ntap,nue,nus,nvda,orcl,oxy,p,panw,pbr,pcln,pcyc,pfe,pg,phm,plug,pm,pot,psx,pxd,qcom,qcor,qihu,qlik,rad,rax,regn,s,sbux,scty,sdrl,sina,siri,slb,slw,sndk,sne,soda,spwr,srpt,ssys,stx,su,sune,swks,swy,syyt,tap,
tgt,tif,tivo,tmus,tol,trip,tsla,tso,ttm,twtr,txn,ua,unh,unp,unxl,ups,usb,utx,v,vale,vhc,vlo,vmw,vod,vrtx,vvus,vz,wag,wdc,wfc,
wfm,wft,wlp,wlt,wmb,wmt,wynn,x,xom,yelp,yhoo,yndx,yum,z,znga,zts)
set{volatility, weekly atr(5)}
set{base, weekly close}
set{strikeprice, base - volatility}
add column weekly close {weekly close}
add column volatility
add column strikeprice {Target strike price for selling puts}
chart-display is weekly
draw price line at strikeprice
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