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Been awhile since I updated this. I continue to sell a few puts every month.
Sold an ADM SEP 36 put today for about .85 This would be a starter position if I get exercised. In any event I received over two quarterly dividend payments in the form of premium for my trouble with the sale.
I was a little early selling puts on MMM and CAT. The entry price doesn't look as attractive now so I will roll them forward a time or two and get it closer to where I would currently like to enter. I want to sell a Deere put at some point but two industrials is enough to manage know. I don't see DE running much for the foreseeable future.
Same with selling calls on HD and APPL. I sold calls way too low and have been rolling them forward for months. It generally works out in the end but it's a hassle and very little if any new money made each month when you blow the timing real bad.
crimsonghost747
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I'm still stuck juggling calls with both WBA and INTC. Horrible timing with both but so far I've managed to squeeze out some cashflow each month.
Also sold some BAC puts with a strike of $26. I don't mind getting these assigned, though the plan is to see them expire worthless.
crimsonghost747
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(08-21-2019, 01:58 AM)crimsonghost747 Wrote: sold some BAC puts with a strike of $26. I don't mind getting these assigned, though the plan is to see them expire worthless.
Decided to buy them back today. Not a massive gain but the time decay was only going to be a couple of dollars per day per option so I decided that it's not worth the risk.
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It's been an OK, not great month or two with the conservative strategies. Puts are still easy money as long as I only sell them on market dips. They continue to expire worthless 90% of the time. Covered calls another story. I lost my HD and XEL shares right before x-div. I was caught snoozing on XEL or I could have easily rolled it forward. AAPL will likely be next unless it pulls back soon. So back to selling puts for re-entry, but not at these levels.
Any thoughts on WM? That's the core holding I never pulled the trigger on all these years. I think I may wade in this week with puts. It's a pricey stock so maybe roll it down a few months if I don't just collect premiums which has mostly been my MO this year. I have a ton of cash so I am shopping this next dip, whenever it comes. The Twitter King will help me out soon enough lol.
crimsonghost747
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(09-14-2019, 08:54 AM)fenders53 Wrote: Any thoughts on WM?
It's certainly a lovely industry to be in nowadays. I've been looking at WM once in a while but never pulled the trigger either. Also keep in mind that while it is the most well known player in the industry (at least from what I've seen) there are alternatives out there.
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Finally put some of my excess cash to work the past few days. Sold one or more put contracts in LMT-MMM-CSCO-AAL-F-MRK.
I was definitely a little nervous pulling the trigger on LMT. That's a big boy trade for my port. It would be the largest individual stock transaction I've ever made. 375 strike price so I'm probably just collecting a big premium.
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09-26-2019, 10:10 PM
(This post was last modified: 09-26-2019, 10:10 PM by NilesMike.)
I don't know if the group thinks this is a conservative option trade or not. Let me know.
It's been a staple income generator. SPX Iron Condor. 12 Delta, 25 wide wings. 66DTE. Exit is down 200% of credit received OR 50% of credit received OR 33 DTE. Whichever comes first
