My puts on Apple, Qualcomm, and Microsoft all expired out of the money over the weekend.

music selection:  “Little Suzi” — Tesla

weigh-in: 218.2 +1.4 – doh!

I’m taking my own advice from the 24 put writing candidates series and opening a position in Eli Lilly. LLY is the tenth largest pharmaceutical company in the world.  The company was the discoverer of insulin (no small contribution to medical science!)  It has paid a dividend since 1885.  My yield on cost if assigned would be 2.78%.  Future dividend raises are likely.  And there is great liquidity in the options ensuring bonus yield will be easy to come by.

This morning, I sold LLY160527P00073500 for 90 cents a share.  The trade will be in force 33 days and yields 13.54% annualized, just beating my 12% requirement.  The trade also enjoys 6.7% downside protection.

Devour your prey raptors!

Write Put Eli Lilly (LLY)

Never miss another opportunity to devour prey!

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