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!