NaughtyPines
Long

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

AMEX:XLU   SELECT SECTOR SPDR TRUST AMEX UTILITIES SELECT INDEX
... for a .48 credit.

Notes: One of the underlyings on my IRA shopping list, pulling the trigger here on a "not a penny more"* short put at the 52 strike with a resulting cost basis of 51.52/share if assigned on the 52 shortie. The current yield is 3.06% with an annualized dividend of 1.85.

Will look to roll out "as is" at least quarterly for further cost basis reduction until assigned or that's no longer productive.

* -- See HYG "Not a Penny More" Short Put Post, Below.
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