Today’s option expiration finished somewhat differently than I thought it was going to as of a week ago. Here’s the breakdown of how it went down:
- VXX, two August 24 Puts – I’ll be assigned 200 shares of VXX on Monday morning. Instead of trying to roll these puts I sold covered calls on the shares I’m about to be assigned. While VXX was trading at $23.07 I sold two September 24 covered calls at $1.25 and received $248.97 after commissions.
- AVAV, two August 25 calls – AVAV stayed below my covered calls strike and I’ll be holding onto my shares. I plan to sell covered calls at the $22.50 strike on Monday or Tuesday. I’d like to see a little bounce first, but won’t wait too long.
- CVS, two August 33 puts and 100 shares assigned as of this morning from my third option – I might just dump these shares for a loss. I was expecting $28.40 to hold and it didn’t. It looks oversold and due for a bounce, but I’m not sure I have the patience. If the premiums were better I might extend my stay with it. That might be what I do once the October contracts are posted next week.
- JPM, one August 37 put and one August 42 covered call – This strangle went well for me. JPM went as high as $41.70 on August 2nd, but retreated all of the way down to $36.81 (in the money) today before finishing around $37.15. I might write another strangle, but at lower strikes next week.
- CSX, two August 52.50 puts – I’ll be assigned 200 shares of CSX on Monday morning and might wait a few days before selling covered calls on it since it appears to be close to the bottom of its trading range.
- ITRI, one Aug 75 covered call – ITRI has fallen more than $10 in less than three weeks. Therefore I’ll be holding onto my 100 shares and writing another covered call. I’m still debating at what strike I should sell. I like ITRI long term, but am starting to think I might have time to take in some more premiums at lower strikes before it rallies again. I’ll decide next week.
I have a lot of options expiring in September, so any other new options I write in the coming weeks will probably be for October so I can continue to spread out my risk into different expiries.