My original put in PMT expired out of the money and I’m back for more.

music selection: “Godzilla” — Blue Oyster Cult

weigh-in: 217.2 (1.4)

I picked up 30 cents per share on my last put but the price has risen since then and puts at the 15 strike aren’t as attractive.  Last Monday, I sold PMT160715P00015000 for 15 cents a share.  The trade will be in force for 26 days and yields 14.04% annualized.  The trade also enjoys 8.33% downside protection.

The price here has come back down with the Brexit carnage on Friday.  Maybe even enough to get assigned.  Either way, next month’s option premium should be higher.  Assignment is desirable as the underlying would yield 12.53% in dividends.

Devour your prey raptors!

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