Lucky I sold them instead of buying them.
Back on 22nd August they were worth $1.22 each..... Today they're totally worthless.
It was a 2.9% return, but as the trade lasted for exactly 30 days getting that amount every month is annualised at 35.32%
Here's the trade history for the last three months. As you can see they're not incredibly liquid. The highlighted trade on 22nd August was me. I wrote 25 contracts x 112 shares per contract x 1.22 per share. That's how it comes to $3416.
The $3416 was always mine to keep, but it came with a catch.... I could have been forced to buy 2800 BHP shares for $41.92 (which I was happy to do).
Today I'm free of that obligation, so tomorrow I'll start hunting for a new sweet premium with an October expiry. I feel like BHP still has another $1-$2 to fall and then it will have some nicely priced puts available to write. I'll try to pull another 3%. If it drops to that level, I might also buy back my open November calls, as they will be somewhat cheaper. We'll see.
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