I have three option positions with expiries today.
music selection: “Synchronicity II” — The Police
The first is a covered call: GSK151218C00044000. This position will likely expire out of the money. I’ll write more calls against the position next week.
The second is the covered call leg of a strangle: DPM151218C00030000. This position will also expiry out of the money. I’ll write more calls next week.
The final position is the cash secured put leg of a strangle: DPM151218P00022500. This position is close but is likely to be assigned over the weekend. I will write calls against these new shares next week.
In other news I have two limit orders for discounted bonds that filled this week. On Tuesday, I picked up the 15MAR2020 maturity 6.350 from Avon Products for 70.30. And on Thursday, I picked up the 15NOV2020 maturity 6.500 from Transocean for 69.352. Both of these are “B” rated bonds. Avon also improved its cash position this week shortly after my order filled by taking on additional investment of 605 million from partner Cerberus for an 80% stake in Avon North America. I feel good about my prospects there after the cash infusion.
Energy XXI 15FEB2018 maturity 8.25 also cleared sometime today at 25.000. This is a “C” rated bond.
Devour your prey raptors!