Write Put AbbVie Inc. (ABBV)

My prior put on ABBV expired out of the money.

music selection:  “Refugee” — Tom Petty

I consider ABBV a buy up to 58 and will continue writing puts at the 12% annualized return level until it exceeds that strike.  On Monday, I sold ABBV160415P00050000 for 70 cents a contract.  The trade will be in force for 40 days and yields 12.78% annualized.   Versus the spot price of 55.05 at the time of writing, the trade has impressive 10.45% downside protection.  I feel pretty good about my chances of a winning trade here.

Friday, I will cover two trades.  One in the taxable account and a rare move in my tIRA.  I also have three positions expiring Friday, AAPL, QCOM, and MSFT.

Devour your prey raptors!