Luckily, I am sitting on the shares as well! BTW, Morgan, I don't sell any Puts unless I am willing to buy the underlying shares at a price that would reflect the premium I would have to pay at a best guess *low trading point* on the stock. Of course, if the Market sold off to extreme levels, I would get screwed on the price, but I maintain that I would be buying shares that I have no problem holding for twenty years.
So for me, there is in effect little downside risk. And frankly, I never hold until expiration. I usually buy back the Puts prior to expiration. Also, most importantly, I can afford the worst case scenarios if they get put to me. To me, with the Bull Market we are enduring, Put Selling is the best way to play options in this market.
Just my "Opinion", obviously.
Teflon |
