NaughtyPines
Long

OPENING (IRA): XLP JAN 17TH 52 SHORT PUT

AMEX:XLP   SELECT SECTOR SPDR TRUST AMEX CONSUMER STAPLES INDEX
... for a .40 credit.

Notes: Another "not a penny more" short put with a resulting cost basis of 51.60/share if assigned. As with my XLU and HYG not a penny mores (See Posts Below), will look to roll "as is" for a credit on at least a quarterly basis until assigned or that's no longer productive. Current yield of 2.99%; $178 annualized on a one lot ... .

This trade kind of rounds out what was on the remainder of my IRA shopping list which has focused on dividend yielders like IYR , HYG , XLU , and XLP . I'm already in IYR covered calls and in HYG and XLU short put plays.
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