I was put shares of Procter & Gamble (PG).
music selection: “Shooting You Down” — Faster Pussycat
On 25JAN2021 I bought a bear put spread in PG at the 136/141 strikes with 19MAR2021 expiry for 4.50 a share (8 spreads). I was assigned overnight at 136. I exercised my long puts at 141. On 3,600 dollars at risk over 52 days, I earned 400 dollars for my trouble. That is good for 11.1% return or 78% annualized.
Spreads in Abbot and Colgate Palmolive are in the in money and I expect to collect the full gain on Friday. Overall, I’m pacing around 6,000 in trading profits for the month of March. I have some in the money covered calls that will raise some cash which will be deployed in dividend stocks to create more truly passive income.
Devour your raptors!