>>20078086It's not worth it. The deepest ITM put at 119 days out (which is a reasonable amount of time for a dip) only gives a delta -61, and is 1.7x more expensive than the cost of 100 SOXL shares. You can try different expiration dates but it's all pretty bad. I haven't done any deep research into the volatility skew on these positions but I'm sure it's fucked. Assuming a decent SOXL position, paying 24% or more on short term capital gains isn't the worst thing in the world. 200 MA strategy still massively outperforms the drag from yearly taxes. Running it in a Roth IRA is the way to go.
