#TakeOneForTheTeam – Looks like I’m getting some stock assigned at 131 from the 131/126 Bull put spreads. Going for max downside protection by selling the covered calls ITM near breakeven. I’ll have to roll a week to turn a profit but wanted absolute maximum protection to the downside.
Here we go:
1. Received 2.18 for original spread sale
2. Sold to Close SVXY FEB 24 2017 126.0 Puts @ 2.50 (not a great fill)
3. Sold SVXY MAR 3 2017 120.0 Calls @ 5.74
So…stock assigned at 131 with 10.42 premium received leaving a basis of 120.58 with covered calls at 120. Actually had this calculated to be breakeven but awful fill on long puts got me in the hole a little.
We’ll see how it goes….but it looks like I did TOFTT!