I sold these at $0.03 on 9/10. I'm buying them back today at $0.01 for a 7-day 2.8% ROI. That's 145% annual ROI. Good stuff. Thanks Ron!!

if I buy it at 0.01, IM=$50? DTE=47? (not familiar with DA, its expiration is 11/04/2014?)
the ROI will be (20/150)/47*30=8.5% before commission. Is this correct? Can someone having the SPAN margin confirm with me? it looks good. Thanks.

You need to subtract the commissions and fees. It makes a big difference when the premium is only $20.

is the IM $50 correct? DTE 47?
ROI: (20-4.5)/150/47*30=6.5%, still good, am I missing something?

The IM is $74 today.

IM when I put the trade on was $389.40.

Here is the math:

I sold 40 options @ $0.03. My gross premium received was $2400.00. Commissions and fees on the opening sale was $256.40, for a net premium received of $2143.60. I paid $0.01 to buy the options back or a gross cost of 40 x .01 x 2000 or $800 plus fees. Fees were $1.41 per option or $56.40, so I paid $856.40 to buy the options back. My net profit was $2143.6 - $856.40 or $1287.20.

Since IM was $389.40, I risked or set aside $46,728 (3x IM X 40) in my acct for this trade. That is a raw ROI of 2.75% (my ROI was slightly higher because I got a small rebate on some of the fees). I held the trade for 7 days. The monthly ROI would then be 2.75/7*30 or 11.81% per month or 141.67 annual.

Hope this helps.

Thanks to Kevinkdog's link, I open my acct with OX with 50 free trades.
I really want to buy 3 of them at 0.01, so my ROI will be (20/222)/49*30=5.5%, I plan to hold them till expiration, what do you think, RON? I haven't tried other selling yet except ES. Thanks.

this is excellent, and congradulations on your successful trade

to earn that I can almost guarantee more excitement in the Emini pits..

what really concerns me, are the required necessary funds on account (margin) based on the increased SEC Reg-T margin on option trades, particularly naked options too...

what about $35,000?