Time Value to the Rescue

I’ve sold a lot of options in the past few days and now have a lot of time value to erode in the next three weeks.  Here’s a snapshot of the positions I’m short and the time value associated with each.

For February, I have $4,703.00 remaining in Time Value (Theta) and for February I have $1,534.00 remaining.  That’s $6,237.00 that I’ll gain by the end of March expiration.  Of course, some of those underlying stocks could move against me and cost me more, but at the same time others are sure to move for me and give me even more profit.  Those that can help me still are the covered calls that I’ve sold out of the money.  I can get hurt with the obvious moves - stocks falling below my strikes on my naked puts and above my strikes on my naked calls.

The yellow in the above chart is from where I was sorting out the March options and just didn’t take the time to clean it up by mistake.  Now I have to get back to work and don’t have time to redo it.