john4419 5:30 am on Thursday, June 28, 2018
Tags: pietrade ( 143 )

#pietrade Assigned MU at cost…

Assigned MU at cost basis of 57.70. Still dropping PM!

smasty 5:51 am on Thursday, June 28, 2018

Did you let your extrinsic value get too low? Or since it’s pie you wanted assignment? That’s one of the reasons I stopped selling puts for Pie…the very best time to sell calls is at the assignment strike, but by the time you get assigned you’ve moved too far away and you lose the efficiency of selling calls at the strike.
- john4419 6:02 am on Thursday, June 28, 2018
  
  Sue,
  Bit of both! MU just seemed to run away quickly. Going to take some time to recover if ever.
  - smasty 6:15 am on Thursday, June 28, 2018
    
    MU seems to always have tricks up its sleeves. It’s a high-drama stock, thus the nice premium. Just when everyone gets shaken out, it zooms. I’ve learned to give it a lot of rope 🙂
    - smasty 6:16 am on Thursday, June 28, 2018
      
      Maybe explore selling ATM calls, but much less than full coverage. Use the risk graph to design.
Jeff 6:11 am on Thursday, June 28, 2018

I also was assigned at 59.00.
- john4419 6:12 am on Thursday, June 28, 2018
  
  Jeff, Glad I was not alone! Just need to start digging.
- Jeff 7:51 am on Thursday, June 28, 2018
  
  Sold June 29th 52.5 call for .80… That was supposed to be July 6th! Dammit.
  - john4419 8:05 am on Thursday, June 28, 2018
    
    Sold July 6th 53.00 call for 1.10
hcgdavis 8:36 am on Thursday, June 28, 2018

It will not be too hard to work back to even. I will be assigned at 58.44. See my post above. Will sell calls on Monday.
hcgdavis 8:37 am on Thursday, June 28, 2018

No matter the name when it drops 10 points in a week it will be underwater for a while. By aggressively managing weekly we can get it back to profit. I estimate 6-8 weeks.
- Jeff 8:42 am on Thursday, June 28, 2018
  
  My MU cost basis is 56.91 on this batch.
  
  Tomorrow in other accounts I will be assigned the stock via 55 puts, 53.30 cost basis.
  - hcgdavis 9:31 am on Thursday, June 28, 2018
    
    Should be fairly easy, good premiums but you have to be willing to sell below your cost basis then roll as it reverses.

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