SSO - Position Update
Written on February 6, 2009 – 6:15 pm | by admin
Into today’s rally, I sold 2 Feb $26 strikes on my remaining SSO positions. While this strike would put me at a loss for the position if I get called away, I will take my premium now and hope the market doesn’t get there. since I don’t trust the rally, I feel the best idea is to get decent premium now and deal with rolling it should the need arise. But waiting for $0.15 on the $30 strikes would be a waste.
Position 1:
Purchased: 100 @ 33.85
Initial Option Income: $5.30
Feb Option Income: $0.50
Other Option Income: $1.05
Expected Return: -4.98%
Position 2:
Purchased: 100 @ 31.28
Initial Option Income: $3.10
Feb Option Income: $0.50
Other Option Income: $1.05
Expected Return: -3.49%
Tags: SSO
