Option Trading Articles: Re: [ConservativeOptionStrategies] may expiration

Saturday, May 22, 2010

Re: [ConservativeOptionStrategies] may expiration

Drjoe..Many thanks for opening up your trading plan for all of us to
benefit.....seems like a fine blueprint for income...something
we can all use.......Traderkip

You're never old, unless
you think you are; but it
IS later than you think!

kipwebster@yahoo.com

--- On Sat, 5/22/10, joe & leigh <gass20@aol.com> wrote:

From: joe & leigh <gass20@aol.com>
Subject: [ConservativeOptionStrategies] may expiration
To: ConservativeOptionStrategies@yahoogroups.com
Date: Saturday, May 22, 2010, 10:09 AM

this week,

i sold the 58 august iwm put for $3, 10 contracts
i sold the 99 june spy put for $2.15, 10 contracts

i had the iwm puts: may 65 (6 contracts), 68 (7 contracts) and the 71 (7 contracts)

i will be assigned on the 68 and the 71.

i will sell august covered calls on each at cost basis strikes of 68 and 71, current premiums of 3.4 for the august 68 and 2.16 for the august 71.

i will also sell the august 59 iwm put at 3.19 (6 contracts) approx 10% otm.

so for the month i will have collected approximately 10,900 in premiums meeting my income goal with no position having a strike below cost basis in spite of a significant drop in the underlying issues.

drjoe...i will update when trades made on monday morning...