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Write Put SXCP

I wrote puts on SXCP.

music selection:  “Dead & Bloated” — Stone Temple Pilots

I tried to write out of the money puts on this one yesterday and failed to get attractive pricing.  I gave it some thought and decided that the coal space might deserve its new higher valuation in the Trump world and wrote at the money instead today.

I sold SXCP170120P00020000 for 1.15 a share.  The trade will be in force for 60 days and has an annualized yield of 34.98% while enjoying 8.05% downside protection.  This is an excellent yield.  Assignment would result in a yield on the underlying over 11.5%.  I expect to do well here.

Devour your prey raptors!

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