Seven positions expired today with the closing bell.
music selection: “Sunshine Of Your Love” — Cream
Unlike most people who have taken to blogging about options, I usually let my contracts go to expiration rather than close early. I just don’t feel it is worth the effort to squeeze out a few more basis points but trade twice as often. Six of my seven positions expired out of the money. One covered call will result in shares being called away.
A covered call in PSEC expired 3 cents out of the money. I earned 18.70% annualized on that position and will roll it forward on Monday.
A cash secured put on SXCP expired well out of the money. I earned 55.85% annualized on that position. The position has run away from me a little bit. I don’t want to go up a strike so I’ll probably take less premium and more downside protection here on Monday.
A cash secured put on BPT expired a buck-fifty out of the money. I earned 55.30% annualized on BPT. I should be about to roll for something in the range of 40% annualized on Monday.
A covered call in GEL expired 3.38 out of the money. I earned 26.21% annualized on that position. I will open a new covered call at the same strike on Monday and expect to fetch a lower return as I’ll be writing further out of the money.
A covered call in MAA expired 5.95 out of the money. I’m a little disappointed by price action here but I’m being compensated well by dividends while I wait for this one to recover. I earned 14.78% annualized on the options position and will reopen on Monday.
A cash secured put in CNNX expired out of the money as the position moved mostly sideways since inception. I earned 31.59% annualized on the position and will roll it forward on Monday for more fun and profit.
My covered call in PMT is going result in shares being called away. I earned 37.44% on the options position and will go back to the trough with a cash secured put on Monday. The yield will be a little lower but well within my 12% target.
Two positions expire next Friday (DIS, and MSFT) and I hope to be called away on each to raise cash.
Devour your prey raptors!