I have three positions expiring today.
music selection: “24 Hours” — The Sounds
First up is the 100 strike AAPL written put. Apple underwhelmed with its earnings announcement and the stock is down as a result. The put was written with shares at 106.18 and they are now down all the way to 96.66. The shares will be assigned. I’ll be looking to write a covered call at the 100 strike on Monday. The annualized return will a little over 15% if pricing holds through the weekend.
Next up is a QCOM written put at the 43 strike. Qualcomm has struggled of late but not enough that shares are likely to be assigned. Shares are at 45 as of this writing. I’ll be rolling both down and out on Monday, looking for the lowest strike that still permits 12% annualized return.
Finally, there is the MSFT written put at the 51.5 strike. Microsoft has seen some soft pricing since the put was written but shares are unlikely to be assigned as shares are just under 55 right now. On Monday, this one will get the same treatment as QCOM, rolling out to a later expiry and targeting 12% annualized with as much downside protection as can be found. I will do the January transparency post on Monday.
Devour your prey raptors!