Closed TMF covered put (7/15 expiration, $116.00 strike)


Bought to close a covered put position originally entered on 7/13. It consisted of 200 shares of TMF, bought back for $112.83 (originally sold short for $120.46), and 2 put contracts with $116.00 strike price, expiring 7/15, bought back for $3.40 (originally sold short for $1.15). Total return after commission for the combined covered put position was $1,040.90, or $5.20/share.


I closed this position, which I had legged into on Wednesday and yesterday a couple of hours before the end of the trading day and the expiration of the short put. The position had achieved most of what it could. Still, in hindsight, it was silly to close this position early. It had 23¢ of premium left in it, and I should have just waited for that to drain away.

July 15, 2016 at 4:50pm · TMF · buy to close · covered put · options

Previous:Sold to close TEAM
Next:Sold to close FITB 7/15 expiration, $18.00 strike calls