Expiration Report for Fri 09/24/21

The following Cash Secured Put (CSP) positions were closed this week. All prices include TD commissions.

* denotes trades that were previously rolled.

Stock	Opened	Closed	Days	Shrs	Strikes	ProbOTM	Margin	P/L	ROI	AROI
ARKK	9/9/2021	9/24/2021	15	100	$114.00	81%	$11,400.00	$94.47	0.83%	20.16%
DIA	9/9/2021	9/24/2021	15	100	$337.00	83%	$33,700.00	$120.47	0.36%	8.70%
IWM	9/9/2021	9/23/2021	14	100	$213.00	83%	$21,300.00	$119.47	0.56%	14.62%
QQQ	9/9/2021	9/23/2021	14	100	$360.00	86%	$36,000.00	$136.47	0.38%	9.88%
SPY	9/9/2021	9/24/2021	15	100	$430.00	84%	$43,000.00	$161.47	0.38%	9.14%
XLE*	6/25/2021	9/24/2021	91	100	$51.00	80%	$5,100.00	$163.88	3.21%	12.89%
XLE*	7/1/2021	9/24/2021	85	200	$49.00	82%	$9,800.00	$108.86	1.11%	4.77%
XLE*	7/8/2021	9/21/2021	75	100	$45.00	78%	$4,500.00	$132.91	2.95%	14.37%
XLI	9/9/2021	9/23/2021	14	100	$98.00	83%	$9,800.00	$38.47	0.39%	10.23%
XLK	9/9/2021	9/23/2021	14	100	$150.00	87%	$15,000.00	$45.47	0.30%	7.90%
XLV	9/9/2021	9/23/2021	14	100	$130.00	83%	$13,000.00	$35.47	0.27%	7.11%
XLY	9/9/2021	9/23/2021	14	100	$176.00	86%	$17,600.00	$47.47	0.27%	7.03%
			32				$220,200.00	$1,204.88	0.55%	6.24%

Expiration Report for Fri 09/17/21

The following Cash Secured Put (CSP) positions were closed this week. All prices include TD commissions.

* denotes trades that were previously rolled.

Stock	Opened	Closed	Days	Shrs	Strikes	ProbOTM	Margin	P/L	ROI	AROI
ARKK	9/2/2021	9/17/2021	15	100	$117.00	82%	$11,700.00	$82.47	0.70%	17.15%
DIA	9/2/2021	9/17/2021	15	100	$345.00	81%	$34,500.00	$107.47	0.31%	7.58%
IWM	9/2/2021	9/17/2021	15	100	$220.00	81%	$22,000.00	$107.47	0.49%	11.89%
QQQ	9/2/2021	9/17/2021	15	100	$363.00	85%	$36,300.00	$115.47	0.32%	7.74%
SPY	9/2/2021	9/17/2021	15	100	$436.00	85%	$43,600.00	$117.47	0.27%	6.56%
XLB*	6/3/2021	9/16/2021	105	100	$81.00	83%	$8,100.00	$87.44	1.08%	3.75%
XLK	9/2/2021	9/16/2021	14	100	$152.00	85%	$15,200.00	$45.47	0.30%	7.80%
XLY	9/2/2021	9/17/2021	15	100	$177.00	84%	$17,700.00	$49.47	0.28%	6.80%
			26				$189,100.00	$712.73	0.38%	5.29%

New Trades

The following Cash Secured Put (CSP) positions were established today. All prices include TD commissions.

Stock	Opened	ExpDate	Days	Shrs	Strikes	ProbOTM	Margin	P/L	ROI	AROI
ARKK	9/17/2021	10/1/2021	14	100	$112.00	85%	$11,200.00	$75.48	0.67%	17.57%
DIA	9/17/2021	10/1/2021	14	100	$330.00	85%	$33,000.00	$112.48	0.34%	8.89%
IWM	9/17/2021	10/1/2021	14	100	$210.00	83%	$21,000.00	$113.48	0.54%	14.09%
QQQ	9/17/2021	10/1/2021	14	100	$351.00	88%	$35,100.00	$117.48	0.33%	8.73%
SPY	9/17/2021	10/1/2021	14	100	$415.00	89%	$41,500.00	$118.48	0.29%	7.44%
XLK	9/17/2021	10/1/2021	14	100	$147.00	88%	$14,700.00	$45.48	0.31%	8.07%
XLY	9/17/2021	10/1/2021	14	100	$173.00	90%	$17,300.00	$42.48	0.25%	6.40%
			14				$173,800.00	$625.36	0.36%	9.38%

Rolled Trades

The following Cash Secured Put (CSP) positions were rolled today. All prices include TD commissions.

All positions were rolled out and down for a net credit, bringing in additional premium and reducing margin requirements.

Date	Stock	Price	Trade	Premium	Margin	Debit/Credit	Margin Effect	BP Effect
9/2/2021	XLV	$136.70	Sell 1 Sep 17 '21 133 Put	$38.48	($13,300.00)
9/17/2021	XLV		Buy 1 Sep 17 '21 133 Put	($48.52)	$13,300.00
9/17/2021	XLV	$132.61	Sell 1 Oct 1 '21 130 Put	$88.49	($13,000.00)	$39.97	($300.00)	$339.97
	XLV		Totals	$78.45	($13,000.00)	$39.97	($300.00)	$339.97

 

Date	Stock	Price	Trade	Premium	Margin	Debit/Credit	Margin Effect	BP Effect
9/2/2021	XLI	$105.23	Sell 1 Sep 17 '21 102 Put	$34.48	($10,200.00)
9/17/2021	XLI		Buy 1 Sep 17 '21 102 Put	($167.52)	$10,200.00
9/17/2021	XLI	$100.34	Sell 1 Oct 15 '21 100 Put	$197.49	($10,000.00)	$29.97	($200.00)	$229.97
	XLI		Totals	$64.45	($10,000.00)	$29.97	($200.00)	$229.97

How Cash Secured Puts Affect the Cash in Your Account

When you sell a put option there's a margin requirement, regardless of whether it's a Naked Put or Cash Secured Put, or if you're trading in a margin or non-margin account. The only difference is that in a non-margin account, like an IRA, the margin requirement for a Cash Secured Put is 100%, meaning that the full amount of cash required to buy the underlying at the strike price, if assigned, must be held in reserve.

When you trade Cash Secured Puts (CSP's) you have a Cash Balance and Option Buying Power (i.e. cash available to trade). Forgetting about premiums for a moment, when you sell a CSP, the Cash Balance doesn't change, however the Option Buying Power is reduced by the full amount of the strike sold. When you close a CSP (i.e. buy it back), the Cash Balance also doesn't change, however the Option Buying Power is increased by the full amount of the strike previously sold, since it's no longer required to secure the put. The premiums received or paid actually affect your Cash Balance.

In the following example, I used Thinkorswim's PaperMoney account to simulate a CSP trade. The initial Cash Balance and Option Buying power was $100,000.

After selling a CSP on SPY with a strike of 445, the Cash Balance was increased by the amount of premium received ($100,000 + $495.33 = $100,495.33), and the Option Buying Power was reduced by the amount required to secure the put ($100,495.33 - $44,500 = $55,995.33).

The CSP was then rolled out to a further expiration and rolled down to a lower strike of 435 for a net credit. The Cash Balance was increased by the credit received (100,495.33 + 130.67 = $100,626.00), and the Option Buying Power was also increased ($100,626.00 - $43,500.00 = $57,126.00), since the amount required to secure the new strike is lower than the amount required to secure the initial strike.

So, for CSP's, only the premiums received or paid affect your Cash Balance, and the sale or purchase of the CSP affects your margin requirement, which also affects your Option Buying Power. By rolling down you are reducing the amount of margin required, and thereby increasing your Option Buying Power.

History of ARKK Rolled Positions

The following is the rolling history of the ARKK Cash Secured Put (CSP) positions. All prices include TD commissions.

Date	Stock	Price	Trade	Premium	Margin	Debit/Credit	Margin Effect	BP Effect
2/11/2021	ARKK	$154.57	Sell 1 Feb 26 '21 144 Put	$178.48	($14,400.00)
2/23/2021	ARKK		Buy 1 Feb 26 '21 144 Put	($875.52)	$14,400.00
2/23/2021	ARKK	$139.04	Sell 1 Mar 26 '21 135 Put	$904.48	($13,500.00)	$28.96	($900.00)	$928.96
3/19/2021	ARKK		Buy 1 Mar 26 '21 135 Put	($1,307.52)	$13,500.00
3/19/2021	ARKK	$122.36	Sell 1 Sep 17 '21 120 Put	$1,693.49	($12,000.00)	$385.97	($1,500.00)	$1,885.97
5/6/2021	ARKK		Buy 1 Sep 17 '21 120 Put	($1,940.52)	$12,000.00
5/6/2021	ARKK	$108.34	Sell 1 Dec 17 '21 116 Put	$1,964.49	($11,600.00)	$23.97	($400.00)	$423.97
	ARKK		Totals	$617.38	($11,600.00)	$438.90	($2,800.00)	$3,238.90

 

Date	Stock	Price	Trade	Premium	Margin	Debit/Credit	Margin Effect	BP Effect
2/11/2021	ARKK	$154.57	Sell 1 Mar 5 '21 136 Put	$110.48	($13,600.00)
2/23/2021	ARKK		Buy 1 Mar 5 '21 136 Put	($660.52)	$13,600.00
2/23/2021	ARKK	$139.04	Sell 1 Mar 26 '21 130 Put	$719.48	($13,000.00)	$58.96	($600.00)	$658.96
3/19/2021	ARKK		Buy 1 Mar 26 '21 130 Put	($880.52)	$13,000.00
3/19/2021	ARKK	$122.36	Sell 1 Jun 18 '21 120 Put	$1,189.49	($12,000.00)	$308.97	($1,000.00)	$1,308.97
5/6/2021	ARKK		Buy 1 Jun 18 '21 120 Put	($1,435.52)	$12,000.00
5/6/2021	ARKK	$108.34	Sell 1 Dec 17 '21 110 Put	$1,579.49	($11,000.00)	$143.97	($1,000.00)	$1,143.97
8/30/2021	ARKK		Buy 1 Dec 17 '21 110 Put	($485.52)	$11,000.00
8/30/2021	ARKK	$122.79	Sell 1 Dec 17 '21 115 Put	$625.49	($11,500.00)	$139.97	$500.00	($360.03)
	ARKK		Totals	$762.35	($11,500.00)	$651.87	($2,100.00)	$2,751.87

 

Date	Stock	Trade	Premium	Margin	Debit/Credit	Margin Effect	BP Effect
Date	Stock	Price	Trade	Premium	Margin	Debit/Credit	Margin Effect	BP Effect
2/19/2021	ARKK	$152.61	Sell 1 Mar 5 '21 140 Put	$160.48	($14,000.00)
2/23/2021	ARKK		Buy 1 Mar 5 '21 140 Put	($844.52)	$14,000.00
2/23/2021	ARKK	$139.04	Sell 1 Mar 26 '21 135 Put	$926.48	($13,500.00)	$81.96	($500.00)	$581.96
3/19/2021	ARKK		Buy 1 Mar 26 '21 135 Put	($1,307.52)	$13,500.00
3/19/2021	ARKK	$122.36	Sell 1 Sep 17 '21 120 Put	$1,692.49	($12,000.00)	$384.97	($1,500.00)	$1,884.97
5/6/2021	ARKK		Buy 1 Sep 17 '21 120 Put	($1,940.52)	$12,000.00
5/6/2021	ARKK	$108.34	Sell 1 Dec 17 '21 118 Put	$2,089.49	($11,800.00)	$148.97	($200.00)	$348.97
	ARKK		Totals	$776.38	($11,800.00)	$615.90	($2,200.00)	$2,815.90

Rolled Trades

The following Cash Secured Put (CSP) positions were rolled today. All prices include TD commissions.

All positions were rolled out for a net credit, bringing in additional premium with no change to margin requirements.

Date	Stock	Trade	Premium	Margin	Debit/Credit	Margin Effect	BP Effect
6/25/2021	XLE	Sell 1 Jul 9 '21 53 Put	$29.48	($5,300.00)
7/8/2021	XLE	Buy 1 Jul 9 '21 53 Put	($106.52)	$5,300.00
7/8/2021	XLE	Sell 1 Jul 30 '21 52 Put	$153.49	($5,200.00)	$46.97	($100.00)	$146.97
7/30/2021	XLE	Buy 1 Jul 30 '21 52 Put	($271.52)	$5,200.00
7/30/2021	XLE	Sell 1 Sep 17 '21 51 Put	$310.49	($5,100.00)	$38.97	($100.00)	$138.97
9/10/2021	XLE	Buy 1 Sep 17 '21 51 Put	($305.52)	$5,100.00	$0.00	$0.00	$0.00
9/10/2021	XLE	Sell 1 Sep 24 '21 51 Put	$364.49	($5,100.00)	$58.97	$0.00	$58.97
	XLE	Totals	$174.39	($5,100.00)	$144.91	($200.00)	$344.91

Expiration Report for Fri 09/10/21

The following Cash Secured Put (CSP) positions were closed this week. All prices include TD commissions.

* denotes trades that were previously rolled.

Stock	Opened	Closed	Days	Shrs	Strikes	ProbOTM	Margin	P/L	ROI	AROI
ARKK	8/26/2021	9/9/2021	14	100	$112.00	80%	$11,200.00	$96.47	0.86%	22.46%
DIA	8/26/2021	9/9/2021	14	100	$341.00	82%	$34,100.00	$106.47	0.31%	8.14%
IWM	8/26/2021	9/9/2021	14	100	$210.00	82%	$21,000.00	$111.47	0.53%	13.84%
QQQ	8/26/2021	9/8/2021	13	100	$354.00	87%	$35,400.00	$118.47	0.33%	9.40%
SPY	8/26/2021	9/8/2021	13	100	$425.00	88%	$42,500.00	$114.47	0.27%	7.56%
XLK	8/26/2021	9/7/2021	12	100	$149.00	86%	$14,900.00	$47.47	0.32%	9.69%
XLV	8/26/2021	9/7/2021	12	100	$131.00	82%	$13,100.00	$35.47	0.27%	8.24%
XLY	8/26/2021	9/9/2021	14	100	$174.00	82%	$17,400.00	$58.47	0.34%	8.76%
			13				$189,600.00	$688.76	0.36%	10.20%

New Trades

The following Cash Secured Put (CSP) positions were established today. All prices include TD commissions.

Stock	Opened	ExpDate	Days	Shrs	Strikes	ProbOTM	Margin	P/L	ROI	AROI
ARKK	9/9/2021	9/24/2021	15	100	$114.00	81%	$11,400.00	$99.48	0.87%	21.23%
DIA	9/9/2021	9/24/2021	15	100	$337.00	83%	$33,700.00	$125.48	0.37%	9.06%
IWM	9/9/2021	9/24/2021	15	100	$213.00	83%	$21,300.00	$124.48	0.58%	14.22%
QQQ	9/9/2021	9/24/2021	15	100	$360.00	86%	$36,000.00	$141.48	0.39%	9.56%
SPY	9/9/2021	9/24/2021	15	100	$430.00	84%	$43,000.00	$165.48	0.38%	9.36%
XLI	9/9/2021	9/24/2021	15	100	$98.00	83%	$9,800.00	$43.48	0.44%	10.80%
XLK	9/9/2021	9/24/2021	15	100	$150.00	87%	$15,000.00	$50.48	0.34%	8.19%
XLV	9/9/2021	9/24/2021	15	100	$130.00	83%	$13,000.00	$40.48	0.31%	7.58%
XLY	9/9/2021	9/24/2021	15	100	$176.00	86%	$17,600.00	$52.48	0.30%	7.26%
			15				$200,800.00	$843.32	0.42%	10.22%

Expiration Report for Fri 09/03/21

The following Cash Secured Put (CSP) positions were closed this week. All prices include TD commissions.

* denotes trades that were previously rolled.

Stock	Opened	Closed	Days	Shrs	Strikes	ProbOTM	Margin	P/L	ROI	AROI
DIA	8/20/2021	9/1/2021	12	100	$336.00	85%	$33,600.00	$108.47	0.32%	9.82%
IWM	8/20/2021	8/31/2021	11	100	$205.00	82%	$20,500.00	$109.47	0.53%	17.72%
QQQ	8/20/2021	8/30/2021	10	100	$348.00	87%	$34,800.00	$106.47	0.31%	11.17%
SPY	8/20/2021	8/30/2021	10	100	$421.00	88%	$42,100.00	$107.47	0.26%	9.32%
XLE*	8/5/2021	8/27/2021	22	100	$45.00	83%	$4,500.00	$72.44	1.61%	26.71%
XLI	8/20/2021	8/30/2021	10	100	$98.50	83%	$9,850.00	$34.47	0.35%	12.77%
XLK	8/20/2021	8/30/2021	10	100	$147.00	87%	$14,700.00	$43.48	0.30%	10.80%
XLV	8/20/2021	9/2/2021	13	100	$132.00	82%	$13,200.00	$40.47	0.31%	8.61%
XLY	8/20/2021	8/30/2021	10	100	$168.00	89%	$16,800.00	$36.47	0.22%	7.92%
			12				$190,050.00	$659.21	0.35%	10.55%

New Trades

The following Cash Secured Put (CSP) positions were established today. All prices include TD commissions.

Stock	Opened	ExpDate	Days	Shrs	Strikes	ProbOTM	Margin	P/L	ROI	AROI
ARKK	9/2/2021	9/17/2021	15	100	$117.00	82%	$11,700.00	$87.48	0.75%	18.19%
DIA	9/2/2021	9/17/2021	15	100	$345.00	81%	$34,500.00	$112.48	0.33%	7.93%
IWM	9/2/2021	9/17/2021	15	100	$220.00	81%	$22,000.00	$112.48	0.51%	12.44%
QQQ	9/2/2021	9/17/2021	15	100	$363.00	85%	$36,300.00	$120.48	0.33%	8.08%
SPY	9/2/2021	9/17/2021	15	100	$436.00	85%	$43,600.00	$122.48	0.28%	6.84%
XLI	9/2/2021	9/17/2021	15	100	$102.00	81%	$10,200.00	$34.48	0.34%	8.23%
XLK	9/2/2021	9/17/2021	15	100	$152.00	85%	$15,200.00	$50.48	0.33%	8.08%
XLV	9/2/2021	9/17/2021	15	100	$133.00	82%	$13,300.00	$38.48	0.29%	7.04%
XLY	9/2/2021	9/17/2021	15	100	$177.00	84%	$17,700.00	$54.48	0.31%	7.49%
			15				$204,500.00	$733.32	0.36%	8.73%

Rolled Trades

The following Cash Secured Put (CSP) positions were rolled today. All prices include TD commissions.

All positions were rolled up for a net credit, bringing in additional premium and increasing margin requirements.

Date	Stock	Trade	Premium	Margin	Debit/Credit	Margin Effect	BP Effect
2/11/2021	ARKK	Sell 1 Mar 5 '21 136 Put	$110.48	($13,600.00)
2/23/2021	ARKK	Buy 1 Mar 5 '21 136 Put	($660.52)	$13,600.00
2/23/2021	ARKK	Sell 1 Mar 26 '21 130 Put	$719.48	($13,000.00)	$58.96	($600.00)	$658.96
3/19/2021	ARKK	Buy 1 Mar 26 '21 130 Put	($880.52)	$13,000.00
3/19/2021	ARKK	Sell 1 Jun 18 '21 120 Put	$1,189.49	($12,000.00)	$308.97	($1,000.00)	$1,308.97
5/6/2021	ARKK	Buy 1 Jun 18 '21 120 Put	($1,435.52)	$12,000.00
5/6/2021	ARKK	Sell 1 Dec 17 '21 110 Put	$1,579.49	($11,000.00)	$143.97	($1,000.00)	$1,143.97
8/30/2021	ARKK	Buy 1 Dec 17 '21 110 Put	($485.52)	$11,000.00
8/30/2021	ARKK	Sell 1 Dec 17 '21 115 Put	$625.49	($11,500.00)	$139.97	$500.00	($360.03)
	ARKK	Totals	$762.35	($11,500.00)	$651.87	($2,100.00)	$2,751.87