I opened a new position today. So now I have a short put position open and a short call position open. Or to explain it another way.... If BHP goes over $46, I'll sell what I have for $46, and if it drops below $43, I'll buy more at $43. I sold 28 contracts of 19th October expiry puts to open. I got the best price of the day (sometimes I get the only price, which I guess is both the best and the worst price of the day!) Here's my trade:
That's me there for $0.90 cents, right before 4pm. Honestly I didn't think it would go. I had it in market for $0.94 since 12pm, and while the price dipped during the day, it didn't drop enough to land me those puts for $0.94c At 3:58, I amended the order 4c lower and it filled immediately. You might notice that $0.90 is lower than usual, and it's really just because there's only 23 days left before these babies expire. Most of the other trades have been longer. Last one (which was my best) had 30 days until expiry, and a fantastic strike too! This FY I'm currently at 17% return, and I still have nine more expiries to write against, so I'm on track for that 35% annual return.
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