Several positions expired over the weekend.
music selection: “H.” — Tool
weigh-in: 196.6 (1.9)
ON and SDLP were assigned from in the money puts over the weekend. Additionally, BHF, KORS, SMG, and VNOM expired out of the money. I say goodbye to the last four as I’m working hard to deleverage. The portfolio is a little bit of a mess after the recent volatility. I think my early retirement is still secure but it could be a bumpy ride.
There was not an opportunity to get acceptable pricing on covered calls for SDLP or EPD today. I’ll continue trying especially if pricing firms up. Against 500 shares of ON, I wrote covered calls this morning. I sold ON190118C00017000 for 33 cents a share. The trade will be in force for 26 days and yields an expected 27.25% on an annualized basis. I’m going to need returns like that to dig myself back out of the hole I have created.
Devour your prey raptors!