Re-establishing two expired positions.
music selection: “What A Feeling” — Irene Cara
weigh-in: 210.6 (0.4)
My puts in GDXJ expired worthless over the weekend. I cleared 140% annualized on the trade. Today, I sold GDXJ200619P00046000 for 3.00 a share. The trade will be in force for 33 days and holds 8% downside protection. Expected annualized return is 72.13%.
My puts in NLY were assigned over the weekend. I am writing near the money covered calls at a strike 50 cents above my assignment price. I hope to hold on to the shares, earn premium, and collect the underlying dividend. I sold NLY200626C00006500 for 16 cents a share. The trade will be in force for 40 days. If shares are not called away, the expected annualized return will be 26.74%. If shares are called away at 6.5, my annualized return will be 110.30%. In addition, against my adjust entry price of 5.46 (6.00 less .54 in premium) the underlying yield is an additional 18.32%.
Devour your prey raptors!