Long EWU 7/15 expiration, $16.00 strike calls expired worthlessly
My position of 13 contracts of EWU 7/15 expiration $16.00 strike calls expired worthlessly. This closes the position originally entered on 6/21 at 45¢. Total loss including commission was $602.70. Loss per share after commission was 46¢.
This was expected ever since the Brexit vote. As I had mentioned here, there was little chance that these calls would regain any value, following the Brexit vote. The purpose of this leg was to protect the upside to the short EWU position I had initially established to hedge against precisely the Brexit scenario that has come to pass.
Overall, the covered put I entered on 6/21/16 was profitable. Next time, I just have to watch out for dividends in my short ETF scenarios!