04-17-2019, 11:39 AM
A very busy day. I have a lot of options that needed to be addressed. I rolled put and call positions forward for KO,BP,VTR,PFE so far. Mostly small moves with little consequence. All in the money options with expiration tomorrow. A few transactions cost me $10.
The net gain on all the moves was about $100 gain and moved a few strike prices in my favor a few % if I am exercised next month. Or maybe I need to do this again next month? Some near term dividends were saved so that factors in. It's all I could do to avoid transactions at less than optimal current prices.
I'll share details on UNH as I dance through the fire. This is pretty typical when I get on on the wrong side of a trade.
Sold a very short expiration option last month for $117 (commissions included) and it expired worthless. Sold a new put for $397 after that so I am now up $514. Then the free-fall started and i just bought back to close that option for $1998. Immediately pushed it out a month with an expiration in May at only $1822, but I dropped the strike from $235 to $230. Still have $348 cash profit in the account after all these trades but I am very upside down in the new put of course. $23,000 is tied up as option collateral, but it's earning nice interest. I may be doing this five more times. I a fine with going long with UNH, but I intend to keep selling tie until the entry price is closer to what I desire. Politics really complicate this but I knew that going in. I didn't expect the freefall of course or I would have waited a month to sell a put.
The net gain on all the moves was about $100 gain and moved a few strike prices in my favor a few % if I am exercised next month. Or maybe I need to do this again next month? Some near term dividends were saved so that factors in. It's all I could do to avoid transactions at less than optimal current prices.
I'll share details on UNH as I dance through the fire. This is pretty typical when I get on on the wrong side of a trade.
Sold a very short expiration option last month for $117 (commissions included) and it expired worthless. Sold a new put for $397 after that so I am now up $514. Then the free-fall started and i just bought back to close that option for $1998. Immediately pushed it out a month with an expiration in May at only $1822, but I dropped the strike from $235 to $230. Still have $348 cash profit in the account after all these trades but I am very upside down in the new put of course. $23,000 is tied up as option collateral, but it's earning nice interest. I may be doing this five more times. I a fine with going long with UNH, but I intend to keep selling tie until the entry price is closer to what I desire. Politics really complicate this but I knew that going in. I didn't expect the freefall of course or I would have waited a month to sell a put.