OPENING (IRA): XLU JAN 17TH 52 SHORT PUT
... 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.
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.
Trade closed manually:
Covering here for a .03 debit, a .45 ($45) winner. As with the XLP, will reevaluate buy point if we ever get a broad market sell-off.
