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Trade Update: MOS got below $55 yesterday, above $55 today. Didn't want to risk getting assigned so sold the 55 puts for $0.57, a $70 profit before commissions.
Trade Update: MOS not looking so hot today, was good to cover my short 55 put when I did. Price has gotten too close to the 52.5 put also so even though it expires tomorrow bought it back (for a higher price) and rolled down to regular expiration Dec 50 put for $0.50 credit.
Trade Update: Decided to roll down again when the price went below $53. Bought back the Dec 50 put and sold Jan 47.5 for $0.58 credit. I'm pretty sure this is not the ideal way to be trading but with the stock price now a bit above $53 and my short puts at $47.5 at least I have a bit of breathing room now.
I see that I mispoke in first comment above, must have been reading the header as I was typing. I meant to say that I bought to close the short 55 put for $0.50, a $70 gain. That put now costs $3.25 to buy back just a few hours later so it turned out to be a good move that I closed it out.
Trade Update: MOS got below $55 yesterday, above $55 today. Didn't want to risk getting assigned so sold the 55 puts for $0.57, a $70 profit before commissions.
ReplyDeleteTrade Update: MOS not looking so hot today, was good to cover my short 55 put when I did. Price has gotten too close to the 52.5 put also so even though it expires tomorrow bought it back (for a higher price) and rolled down to regular expiration Dec 50 put for $0.50 credit.
ReplyDeleteTrade Update: Decided to roll down again when the price went below $53. Bought back the Dec 50 put and sold Jan 47.5 for $0.58 credit. I'm pretty sure this is not the ideal way to be trading but with the stock price now a bit above $53 and my short puts at $47.5 at least I have a bit of breathing room now.
ReplyDeleteI see that I mispoke in first comment above, must have been reading the header as I was typing. I meant to say that I bought to close the short 55 put for $0.50, a $70 gain. That put now costs $3.25 to buy back just a few hours later so it turned out to be a good move that I closed it out.
ReplyDeleteEnd of month update: Still short the Jan 47.5 and Jan 45 puts. Trade currently shows profit of $630.
ReplyDeleteTrade Update: Took advantage of the big move up today to close out the Jan 45 puts as they came way down today. Bought to close those puts for $0.69.
ReplyDelete