I wrote new puts on AT&T this morning.

music selection:  “Badlands” — Bruce Springsteen

weigh-in:  216.4 +0.4 – Four consecutive weeks in the wrong direction.

My original put on AT&T expired worthless over the weekend.  I wrote a new one at the money this morning.  I sold T160429P00039000 for 1.09 a contract.  The strike was eight cents in the money so there is only 1.01 of time value sold.  The trade will be in force for 40 days and yields 23.63% annualized if it expires in the money.  If the trade expires out of the money, it yields 25.50% annualized.  The trade has 2.59% downside protection.

We are getting close to fully valued for T so if it runs away from me again, I think I’ll wait for better pricing before writing higher strike puts.  It is a good company but a good company turns into a bad investment if bought too dearly.

Devour your prey raptors!

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Written Put AT&T, Inc. (T)

Never miss another opportunity to devour prey!

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