Sold to open SCO 7/29 expiration, $93.00 strike puts

action

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.

rationale

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.

July 22, 2016 at 12:16pm · SCO · sold to open · options


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