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Strategies & Market Trends : Option Strategies
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To: sm1th who wrote (2504)6/17/2023 10:58:15 AM
From: robert b furman   of 2591
 
Hi sm1th,

I had all of my puts expire also. All in T and KMI. At one point in time the 15's and 16's were all in the money.

So it was a nail biter up until the last day of expiration on both.

I had the following expire to zero after having no contracts for the months of April and May. Quadruple witching gets crazy!

sold 100 KMI $15 puts @ 7318.63 and bought to close @635.98 with net at 6682.65
sold 100 KMI $16 puts @ 3780.71 and bought to close @300.99 with a net 3479.72
resold 50 KMI $15 puts @ 574.39 expired to 00.00 @ 574.39
sold 10 KMI $15 puts (in Ira) expired to 00.00 @ 769.86
sold 50KMI $13 puts @ 1859.36 expired to 00.00 @1859.36
Sold 30 T $16 puts @ 1674.61 expired to 00.00 @1674.61

In all, a great close for the month ($14,270.73), but have been glued to the computer this last week.

That freed up a lot of cash that was collateralized for a long time. Those top two KMI puts were initially sold on August 30 of 2022 (out in time by 10 months - to build premium). If any of the 16 or 15 had been assigned the dividend yield would have been in the 7.25% to 7.5% range. Would have been happy to have had them in my account.

When T dropped to $15.00ish I added shares with a buy and it would have been tight on the cash balance if assigned, so it was a bit stressful, but turned out OK.

Thanks for posting your trades here!

Keeps this quiet thread alive.

I am amazed at how few people short puts. Yet they buy calls and get killed by time decay.

In time decay I trust!

Bob
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