On Monday, my PSEC covered calls were called away prematurely.  I have rolled the position forward.

music selection:  “Private Eyes” — Daryl Hall and John Oates

It looked like last night I’d be able to get 9 cent pricing.  Today, the bids were holding firm at 5 cents.  I set a limit order for my minimum return at 6 cents and ended up waiting all the way through lunch for a fill.  I was able to sell PSEC160520P00007000 for 6 cents a share.  The trade will be in force for 24 days and yields 13.04%.  The trade also enjoys 9.16% downside protection.

I’d like to see shares fall back into range why I can get assigned but it looks unlikely.  Thirteen percent will serve me well either way.

Devour your prey raptors!

Write Puts Prospect Capital (PSEC)

Never miss another opportunity to devour prey!

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