I wrote contracts on two more tickers today.
music selection: “Chalk Outline” — Three Days Grace
I had a couple trades that didn’t go through yesterday as I couldn’t get filled at an attractive price. I got filled today at what I consider very attractive positioning.
First, I went a little bit into the money on MAA160916P00095000 as I’m hot to get assigned. I think Mid-American is well positioned for a long term trend of rising rents in the mid tier housing space. I got 2 dollars a share for an annualized yield of 30.74%. The trade will be in force for 25 days and enjoys 1.44% downside protection.
I also sold SDLP161021C00005000 for a dime a share. The trade will be in force for 60 days. Since my cost basis here is 3.74, the annualized yield 16.27%. That is a nice bonus on top of the 10% distribution yield. I also have room for some capital gains if oil prices continue to firm up. I’m very happy to own this one at 3.74.
Devour your prey raptors!