I've been working with bull put spreads since 2016 and have made some alright money. In the beginning I did some research and developed my strategy, but can't remember where I did my research and don't even know if my strategy is optomized. I was hoping y'all could critique my strategy or help me improve it.
I sell SPX bull put spreads. I look at the SPX chart and sell my put somehwere around the last 3 month low and at a high volume strike price that's a between one and three months out. I buy my lower put, same date, for about 25% to 50% of the value of the put I sold. I watch the put i sold and when it gets to between 60% and 70% profit, i close everything out and start another one.
It's been working out so far, but is there a way to optomize this strategy?