system
A chat on subreddit /r/wallstreetbets
human
my idea is to look into these major CPI/FOMC events... Then sell against the grain or catching the knife around those dates... Delta 0.2 if you see that they had gone down on multiple days. This gives you higher risk/reward IMO.

I have a 13 Jan -3980/+4000C for $520, and I have a rolled up 3 Feb -4050/4100C for +891. I probably will close the 13 for next to nothing by Wed when this goes out of steam. The 3 Feb will probably collapse around the FOMC as fearmongering news show up. If they blow up, I roll. I think 4000ish is a good basis to roll. 

I am done with playing with too safe a delta. If they go a certain direction for 2-3 days, I aim to sell 7-14DTE for a start, delta 0.2 or even 0.4. Then roll as necessary. In a kangaroo market they are bound to correct. 

With higher premium you get to close with higher return too. 50% of a bigger premium is obviously bigger than 50% of a lower premium. 

This hopefully partially or fully finances the SPY long call/put for the eventual correction.
gpt
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