Options Expiration – October 2017

The only two October naked put options I had remaining expired worthless today. IWM finished the week at $149.99, well above my October $137 strike. QQQ finished the week at $148.74, also far above my October $142 strike. I should’ve rolled these earlier, but wasn’t bullish enough to pull the trigger. Now I need to avoid making the same mistake with the options I have remaining.

For November expiration, I have the two puts I just sold two days ago on IWM and QQQ to replace the October naked puts. They are split a few cents so far (IWM in my favor and QQQ not in my favor), but not enough to worry about or make a change in either direction on. My three December naked puts on AAPL $155 (sold yesterday), MDY $320, and ADI $80 are mixed. The newest, on AAPL, is down a few cents for me, while MDY is showing a $679 paper profit and ADI indicates a $203 paper profit. I might need to roll one of these latter two soon since I can go ahead and pocket the majority of my potential profit and they’re still two months from expiration.

In addition, I still have almost $23,000 not invested and not backing any naked puts. I just bought some SPY shares for a client along with going long at the money puts. I might make the same trade for me. It opens up good upside potential with insurance to keep any losses to a minimum.

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