Hola from very wet Houston.
Music selection: Mother Mother — Tracy Bonham
Raptors who played the home game version of my T strangle earned almost 24% annualized in option premiums while capturing some capital gains upside. Today we are going back to the trough to snack on more delicious T. The price has improved so we are changing strikes.
You should be able to get a net credit of 77 cents or better on the spread. Your annualized return over 38 days should be around 10.7% on very safe and stable T. If we keep shares, current yield is an additional 5.6%. Hungry raptors should continue to roll this trade forward at each expiry until shares are called away.
Devour your prey raptors!