Federal Realty Investment Trust (FRT) shares were assigned early.
music selection: “The Reckoning” — Halestorm
I purchased a bear put spread in FRT on 14DEC2020 with the 95/100 strikes and expiry set to this Friday for 4.05 a share. I had 9 spreads open and they were all assigned early this morning. I exercised my long puts to sell the shares I was obligated to purchase at 95 for 100. I cleared 855 of profit on 3,645 in capital at risk over 30 days. That is good for a 23% return or 285% annualized.
I have several positions that are in the money expiring this Friday. With only trivial time value left, more shares could be assigned. I will follow the same procedure of exercise my long options to close out the hedge and book my profits.
Devour your prey raptors!