Sold to open SCO 7/29 expiration, $93.00 strike puts
Sold short 2 contracts of SCO 7/29 expiration $93.00 strike puts at $2.00. Total proceeds after commission were $390.55. Proceeds per share after commission was $1.95.
The existing short put on the covered put position opened here is expiring. I am losing money on the ETF, so far, but I am making some of it up with the options. In the long run, given the decay in the ETF, I will make money on it. So, all I need to do, is to stay persistent with the put selling. That’s what I am doing, here. I am simply rolling down and out with the puts.