Yesterday I posted a plan for SPY with ex-div tomorrow. The plan involved the assignment of all my #Saf-T SPY shares, then replacing those with short puts for tomorrow expiration….which happen to have the div already priced in, along w/ a little premium.
As it turns out I had about 1000 shares called, but most of my short calls for last night’s expiration expired for full profit.
So I sold tomorrow’s 279 puts to replace the 1000 shares that were called yesterday, at $1.65.
Unless the market goes bonkers tomorrow, this is a guaranteed assignment due to the SPY price action on ex-div day (a $1.10 drop in price is guaranteed).
I have also done the required long put coverage for #Saf-T trades, buying Jul 27 276 puts.
So, for tomorrow: 1. I collect SPY dividend on 2000 shares, $2200 (pay date is actually next friday I think). 2. I collect the put premium on 10 puts $1650. 3. I take assignment of 1000 shares @ 277.35 (adjusted). 4. I can re-commence selling weekly premium on the shares.