Three positions were assigned over the weekend.
music selection: “Son Of A Poor Man” — REO Speedwagon
weigh-in: 207.6 +2.0 – Excessive Superbowl eating…
I had a strangle open in BX. The shares were called away and the put expired worthless. I remain high on the prospects for Blackstone and love the rich options premiums on offer so I’m writing fresh puts. I sold BX180316P00035000 for 1.48 a share. The trade will be in force for 40 days and yields an expected 38.59% annualized while enjoying 4.47% downside protection.
Shares in Micron (MU) were assigned to me over the weekend. I am writing covered calls for more income. I sold MU180316C00042000 for 2.08 a share. The trade will be in force for 40 days and yields an expected 45.19% annualized. Despite the downward move in price, the position is up 7.88% thanks to options premiums collected. The premiums are so rich here, I expect to keep coming back for a long time.
Shares in Grubhub (GRUB) were also assigned to me over the weekend. Like with MU, I’m writing covered calls against the shares for more income. I sold GRUB180323C00071000 for 4.60 a share. The trade will be in force for 47 days and yields an expected 50.31% annualized. As with Micron, shares are down since entering the position but thanks to fat option premiums collected, I am up 8.82% on the position. This is a great company with strong scalability and a powerful network effect. I hope to continue using this for income in the future.
Devour your prey raptors!