Early assignment by the holder of the 05/29 13.00 covered calls I had sold (to get the 0.12 monthly dividend payment I guess).
At least one I won’t have to roll.

Bought to close AAL 05/29/2020 11.50 Covered Calls / Sold AAL 06/05/2020 12.00 Covered Calls @ 0.12 Credit Plus a 0.50 higher strike
Bought to close WBA 05/29/2020 40.50 Covered Call / Sold WBA 06/05/2020 41.00 Covered Call @ 0.12 Credit Plus a 0.50 higher strike. (This gets the strike above my entry cost on the stock)

Sold off a little more of my SPY @ $303.62 in after hours trading.
Bought this lot @ $250 on 3/12.
The average cost on my remaining SPY is @ $233.33/sh.

Sold my long VXX 01/15/2021 21.00 Put @ 3.20 this morning. My cost was 1.99 plus I wrote weekly puts several times against it.

I also added a new diagonal position with the long Put side out 13 months.
Bought to open 06/18/2021 10.00 Puts / Sold 05/29/2020 32.00 Puts @ 0.17 Credit.
I should have a fully paid for long position by week’s end if I don’t have to roll the short.

Bought to open 1 CINF 09/18/2020 70.00 Call / Sold 1 CINF 06/19/2020 60.0 Call @ 0.25 Credit.

This is an additional kicker for my 60.0 Covered Calls in case we have another major pull back before the June expiration.

Bought to close 1 CINF 06/19/2020 65.0 Put / Sold 1 CINF 09/18/2020 60.0 Put @ 0.65 Credit.
I expect to lose $500 less than I previously thought but I’ll have to wait until fall to reap the benefit

And so it begins again. New lows so far today in the SP500:
GE – 5.48
IVZ – 6.71 (8.56% Div)
WFC – 22.10 (8.49% Div)
LUV – 23.52
CINF – 49.00 (4.66% Div)
BXP – 75.00 (4.98% Div) REIT
AAL – 8.83
WBA – 38.48 (4.52% Div)
L – 28.25

Bought VXX 01/15/2021 11.00 Puts / Sold 05/08/2020 35.00 Puts @ 0.03 Credit.
Pushed my long side puts a point closer to the stock than my earlier trade.
Today’s stock low was 37.56

Never heard of this one until today. But it does have options Low open interest and huge spreads, but at least they are there.

Dividend Yield: 3.9%
Easterly Government Properties is a shining example of the kind of stock I’m talking about today.
It’s a real estate investment trust (REIT) that has one of the most reliable tenants in the world — the U.S. government.
It’s based in Washington, D.C. and leases Class A properties to government agencies. DEA operates 72 properties for 32 agencies with nearly 7 million square feet of space.
DEA has been around since 2011, so it’s relatively new in the REIT space. But this is a very unique niche with a serious competitive moat.
Currently it has a solid 3.9% dividend, which shouldn’t be affected by any of the economic issues visited upon the broader economy. The stock is up 50% in the past 12 months, so there’s some significant growth there as well.

Bought VXX 01/15/2021 10.00 Puts / Sold 05/08/2020 35.00 Puts @ 0.03 Credit.
If this works, I will own some zero cost 2021 Puts by Friday.
If it doesn’t that means the market is screaming higher (helping the rest of my portfolio) and I can roll them weekly until they do.
Last week’s low on VXX was 35.55.

Bought to close 1 Bought ADS 05/08/2020 40.00 Covered Call / Sold 1 ADS 05/29/2020 42.00 Covered Call @ 0.30 Credit plus 2.00 point higher strike

Sold 1 CCL 05/08/2020 16.00 Covered Call @ 0.20

Sold SLB 05/08/2020 17.50 Covered Calls @ 0.12

Expired:
AAL 05/01/2020 15.00 Covered Calls
AGNC 05/01/2020 13.50 Covered Calls
CCL 05/01/2020 15.50 Covered Call
GLW 05/01/2020 23.00 Covered Call
SLB 05/01/2020 17.50 Covered Calls
SLB 05/01/2020 18.00 Covered Calls
SLV 05/01/2020 14.50 Covered Call
WFC 05/01/2020 32.00 Covered Call

AAL 05/01/2020 9.00 Put
VXX 05/01/2020 35.00 Covered Put
VXX 05/01/2020 34.50 Covered Put

No assignments

Bought to close OXY 05/01/2020 17.50 Covered Calls / Sold OXY 05/08/2020 18.00 Covered Calls @ 0.41 Credit plus 0.50 Higher strike.
The stock closed at 15.24 today.

Everybody realizes the US economy is in a bad spot. But most people still seem to believe it will bounce right back once we deal with the coronavirus… They’re all high on Federal Reserve fairy dust.

Bought to close HPE 05/01/2020 9.50 Covered Call / Sold HPE 05/08/2020 9.50 Covered Call @ 0.22 Credit

Bought to close AA 05/01/2020 8.0 Covered Calls / Sold AA 05/08/2020 8.0 Covered Calls @ 0.20 Credit

Analyst sets a $1 price target on American Airlines.

Western Digital suspended their dividend.

Bought to close VIAC 05/01/2020 18.00 Covered Calls @ 0.01.
Sold VIAC 05/08/2020 19.00 Covered Calls @ 0.29 for next week with the strike a point higher.

Bought 100 WFC / Sold 1 WFC 05/08/2020 28.50 Covered Call @ 27.47 Net debit.
Looking for my weekly $100

( the next ex-dividend date is on 05/07/2020 for 0.51 too )

Stocks Scream To “Most Expensive Ever” In Greatest Month Since ’87

Bought to close VXX 05/01/2020 35.50 Puts @ 0.09.
Sold them on 04/27 @ 0.12 and 0.31
Replaced them with short VXX 05/08/2020 34.00 Puts @ 0.45.

My long VXX Puts are out in Jan 2021 and are 25% fully paid for after about 10 days.

for what it’s worth, 4 directors of WFC bought stock on 4/28.
I guess they wanted to get in at prices not seen since 2012.
Div yield is 6.8% and it goes X-div on 5/7

Sold 1 May 15 2020 65.00 Put @ 1.70 with the stock at 67.10.

52-week low: 65.69
52-week high: 118.19

Bought to close 1 PNC 05/01/2020 98.0 Covered Call / Sold 1 PNC 05/08/2020 99.0 Covered Call @ 0.05 Credit.
With the stock at 106 I’ll risk holding on one more week for an extra $100.

Fitch Affirms PNC Financial at ‘A+/F1’; Outlook Stable Despite Coronavirus Impact

Bought 100 Shares of CINF / Sold 1 CINF 05/15/2020 65.0 Covered Call @ Net Debit of $63.80
Filled at $67.68 on the stock.

Got a strange assignment overnight. Sold 100 of my 300 ADS shares when my 05/01/2020 45.0 Covered call was assigned. Interestingly I was not assigned on the strike 41.0 call expiring tomorrow.

On 3/10 I bought 200 GUSH just under 1.00 and sold 2 March GUSH Covered Calls for $60 in total premium for a 30% reduction in breakeven.
After the reverse split I’ve now dumped my (5) GUSH shares @ $42.20 and added a bit more to the profit.
Glad to be out 🙂

Sold my highest cost lots of SPY @ 291.59 on the open and @ 294.09 just now.
The average cost for my remaining position is 246.13.

Sold OXY 05/01/2020 17.50 Covered Calls @ 0.08
Sold AAL 05/01/2020 15.00 Covered Calls @ 0.06.
Sometimes you just have to take what the market will give you.
I would likely accept assignment and these strikes.

Bought to open 100 CINF / Sold 1 CINF 05/15/2020 70.0 Covered Call @ 67.95 Net Debit
Sold 1 CINF 05/15/2020 70.0 Put @ 2.05

These are equivalent trades and I was going to take whichever order filled first, but I got them both.

The stock is 72.52, down over 9.5 points today after rallying from 78 to 82 pre earnings (WTF were they thinking?)

Sold SLB 05/01/2020 17.50 Covered Calls @ 0.12 with the stock at 16.39

Sold the rest of my AA 05/01/2020 8.00 Covered Calls @ 0.10. Stock at 7.60
Sold CCL 05/01/2020 15.50 Covered Call @ 0.15. (you could do better now) Stock at 14.09

Sold VIAC 05/01/2020 18.00 Covered Calls @ 0.08 and again @ 0.13

GM Suspends Dividend, Stock Buyback Program To Preserve Cash, following Ford’s move last month.

Added some short puts for this week
Sold 1 VXX 05/01/2020 35.50 Put @ 0.31
Sold 1 VXX 05/01/2020 34.50 Put @ 0.16.
These are covered by Long VXX puts for Jan 2021

Expiring:
AA 04/24/2020 8.00 Covered Calls
AAL 04/24/2020 15.00 Covered Calls
CCL 04/24/2020 15.50 Covered Call
OXY 04/24/2020 17.00 Covered Call
OXY 04/24/2020 18.00 Covered Call
SLB 04/24/2020 17.00 Covered Calls
SLV 04/24/2020 14.50 Covered Call
VIAC 04/24/2020 17.00 Covered Calls

MRO 04/24/2020 3.50 Puts

Assignments:
HAL 04/24/2020 8.50 Covered Call – Stock cost 5.10 (not adjusted for covered call premiums)
HFC 04/24/2020 27.00 Covered Call- Stock cost 19.05 (not adjusted for covered call premiums)
RCL 04/24/2020 34.00 Covered Call– Stock cost 32.14 (not adjusted for covered call premiums)
TNA 04/24/2020 17.00 Covered Call- Stock cost 10.10 (not adjusted for covered call premiums)
XOM 04/24/2020 42.00 Covered Call- Stock cost 37.14 (not adjusted for covered call premiums)

Getting closer to $CASH and preparing for the next big downswing or earnings implosion

Almost forgot this one
Bought to close 1 HPE 04/24/2020 9.50 Covered Call / Sold 1 HPE 05/01/2020 9.50 Covered Call @ 0.18 Credit

Bought to close ADS 04/24/2020 40.0 Call / Sold 05/01/2020 41.0 Calls @ 0.79 Credit + 1.00 better strike.
Done for today.
Letting all the rest of my ITM covered calls get assigned as the rolls are not that generous on the strikes I’m short now.

Bought to close MRO 04/24/2020 4.5 Calls / Sold 05/01/2020 4.5 Calls @ 0.08 Credit

Bought 100 IVZ / Sold 1 IVZ 05/15/2020 10.0 Covered Call @ 7.48 Net Debit.
Sold 1 IVZ 05/15/2020 7.0 Put @ 0.50.
Earning already reported with the stock off 20% yesterday. They cut the dividend in half from 31 cents to 15.5 cents but the yield is still about 8.5%. Next Ex-Dividend date is on 05/08/2020.

Baby steps 🙂

Bought to close 1 PNC 04/24/2020 97.0 Call / Sold 1 PNC 05/01/2020 98.0 Call @ 1.38 Credit + 1.00 better strike

Sold 1 AAL 05/01/2020 9.00 Put @ 0.27.
Stock Day’s Range: $10.24 – $10.67

Sold 1 OXY May 01 2020 17.50 Covered Call @ 0.17

Bought 1 VXX Jan 15 2021 21.00 Put @ 1.99.
Bought 1 VXX Jan 15 2021 16.00 Put @ 0.75
The strike is a point closer to the stock than my first buy for the same money.

I re-invested the proceeds of my ADS covered calls into these.

Sold 1 ADS 05/01/2020 45.00 Covered Call @ 0.75.
Sold 1 ADS 05/15/2020 50.00 Covered Call @ 0.75.
Sold 1 ADS 05/22/2020 48.00 Covered Call @ 1.05.
The stock is at 40 after it’s earnings report.

“Alliance Data Systems (ADS) said Thursday that it booked Q1 core earnings of $0.75 per share, which is significantly down from $3.79 in the same period last year. Analysts surveyed by Capital IQ were looking for EPS of $3.84.
Revenue increased to $1.38 billion from $1.33 billion in the prior-year quarter. The CapIQ-compiled consensus view was for revenue of $1.31 billion.
The data-driven marketing and customer loyalty solutions provider said that it increased its provision for loan losses by $404 million, attributing over $300 million of the increase to the economic impact of the COVID-19 crisis.
Alliance said that it expects cost reduction measures to result in $150 million in savings, which will be recognized in FY2020. The company also suspended share buybacks and reduced the quarterly dividend to $0.21 per share, down from the prior distribution of $0.63, payable on June 1 to stockholders of record on May 14.”

I was able to dump the GUSH that was put to me on the exercise of the March 1.00 short puts at a gain.
Sold GUSH @ 29.20 yesterday.

Bought 100 HPE / Sold 1 HPE 04/24/2020 9.50 Covered Call @ 8.97 Net debit..
Earnings and the next dividend(5%) are not for a while. I’ll add more on further weakness.

Sold 1 ADS 05/08/2020 40.00 Covered Call @ 1.80

Sold SLB APR 24 2020 $17 Covered Calls @ 0.17 replacing similar options that expired Friday

Sold 1 SLV Apr 24 2020 14.5 Covered Call at $0.16 replacing a similar option that expired Friday

Bought to close HFC 04/17/2020 27.0 Covered Call / Sold 1 HFC 04/24/2020 27.0 Covered Call @ 0.95 Credit

Bought to close 1 HAL 04/17/2020 8.50 Covered Call / Sold 1 HAL 04/24/2020 8.50 Covered Call @ 0.16 Credit with the stock at 7.42

Bought to close XOM 04/17/2020 41.0 Covered Call / Sold XOM 04/24/2020 42.0 Covered Call @ 0.39 Credit + 1.00 better strike.

Bought to close 1 SLB 04/17/2020 17.50 Put / Sold 1 SLB 05/15/2020 17.50 Put @ 0.52 Credit.

SLB cut the quarterly dividend by 75% to $0.125 per share as part of the move to conserve cash and protect its balance sheet. The payout is set for July 9 to shareholders of record on June 3, according to Schlumberger.

Bought to close AA 04/17/2020 8.0 Covered Calls / Sold AA 05/15/2020 8.0 Covered Calls @ 0.25 Credit

Bought to close AAL 04/17/2020 15.00 Calls @ 0.01. Sold these on 04/09 @ 0.29.
Sold AAL 04/24/2020 15.0 Covered Calls @ 0.18 with the stock at 11.70.

Bought to close VIAC 04/17/2020 18.00 Calls @ 0.01. Sold these on 04/07 @ 0.18.
Sold VIAC 04/24/2020 17.0 Covered Calls @ 0.32 with the stock at 15.50.

Bought to close 1 TNA 04/17/2020 16.00 Call / Sold 1 TNA 04/24/2020 17.00 Call @ 0.18 Credit + 1.00 better strike

Bought to close RCL 04/17/2020 33.0 Call / Sold RCL 04/24/2020 34.0 Call @ 1.18 Credit + 1.00 better strike.
This stock is so volatile, it could be 20 or 50 by next Friday

Sold CCL 04/24/2020 15.50 Call @ 0.15 with the stock @ 12.36

Bought BEN / Sold 04/17/2020 15.00 Covered Call @ 14.79 Net Debit with the stock @ 15.17.
A new 5-year low was set today @ 14.91 and the Div yield is about 7%

Assignment will pay for this weekend’s beer run

Bought to close OXY 04/17/2020 17.50 Covered Call @ 0.01. Sold on Monday @ 0.60.
Sold OXY 04/24/2020 17.00 Covered Call @ 0.15.
Bought to close OXY 04/17/2020 18.00 Covered Call @ 0.01. Sold on Monday @ 0.47.
Sold OXY 04/24/2020 18.00 Covered Call @ 0.14

Plus on 4/15 I got the $79 dividend on my 1st buy of OXY. Future quarterly dividend rates are down to 0.11.

Bought to close VIAC 04/17/2020 16.00 Covered Calls / Sold VIAC 04/24/2020 17.00 Covered Calls @ 0.12 Credit + 1.00 better strike

Bought to close PNC 04/17/2020 96.00 Covered Call / Sold PNC 05/15/2020 97.00 Covered Call @ 0.87 Credit + 1.00 better strike.
I also will get the 1.15 quarterly dividend at the end of the month.

Bought to close FITB 04/17/2020 14.00 Covered Call / Sold FITB 05/15/2020 14.00 Covered Call @ 0.78 Credit

Occidental to Pay Warren Buffett’s Berkshire a Stock Premium to Conserve Cash
In an effort to conserve cash at a time of ultralow oil prices, Occidental Petroleum is paying the dividend on Berkshire Hathaway’s $10 billion preferred stock stake in common shares and not in cash, according to a filing early Wednesday.

Occidental (ticker: OXY) will issue 17,274,130 shares to Warren Buffett’s Berkshire (BRK.A), a move that will be nearly 2% dilutive. Occidental is effectively paying Berkshire a premium to save $200 million in cash.

(Note: Berkshire immediately sold that stock dividend and turned it into $CASH – I guess it’s too early to bottom fish)

https://www.bizjournals.com/cincinnati/news/2020/04/15/fifth-third-u-s-bank-other-banks-sites-go-down-due.html