BX puts expired on Saturday. I wrote new ones.
music selection: “Suite Sister Mary” — Queensryche
weigh-in: 209.2 +0.4 – Too much BBQ!
Blackstone Group is quite a lot like a publicly traded hedge fund. They take in funds from accredited investors and deploy it primarily in real estate investments. We can participate in the fees they charge by buying the stock. It is a high yielder but we can do better with options.
I sold BX170825P00034500 for 90 cents a share. The trade will be in force for 40 days and yields 23.80% annualized. It also enjoys 2.67% downside protection against a drop in share price. Assignment will result in a yield over 10% plus the opportunity to profit again with covered calls.
In other news, UVXY split 1:4 today. Long puts are well in the green but I think I can do better by holding a little longer.
Devour your prey raptors!