I’ve been working a covered straddle on RILY the last month and it’s a good time to hop in if anybody else likes running with the covered straddle strategy.
Contracts are selling for a great value right now, I just sold a few 3.5$ puts for .16, so over 4% which is great obviously, especially considering it’s the middle of the week. Calls have been selling for over 1% consistently as well over the last month which is really all I’m looking for. If I get assigned that’s fine I want to average down anyways.
Anyways, thought I’d share, I know it’s hard to find cheap stocks where you can run this strategy given you need the bankroll to execute the “covered” aspect of this. So if anyone has other stocks that fit the cheap and good value option pricing, please share.