Another options expiry Friday has come and gone. My AXP and GIS written puts closed well out of the money and I’m saying goodbye to those names for now.
music selection: “Crazy Love” — Ray Charles (Feat. Van Morrison)
My Johnson and Johnson 100 strike written put was ASSIGNED and I am the proud owner of shares. Today, I am writing at the money covered calls against my position. I was able to write JNJ150731C00101000 for 1.40 a share. My annualized return on (100) capital at risk is thus 12.78%. Should shares rise and be called away, I pick up an extra dollar in capital gains making the annualized return 21.90%. Tasty! I’ll be back later this week with replacements for AXP and GIS.
Devour your prey raptors!