What a market.. difficult to watch. no real themes, but definitely responsive to headlines. Job data was down, market sold off 100. took Nucor down to 37 and I was able to sell the Nov35 put for $1.14, 5 contracts for $570. volatility ticked up to 35 (as you would expect) that made that premium possible. Midday NUE has recovered, but the trade is done. now just watch and wait for expiration to see if it expires worthless ( I get to keep it all), or I get exercised and buy some more NUE at 35, or I just roll the position forward for another premium. Of note, last month I had sold the opposite end of the trade Oct43 covered calls for .46 or $230. so my total investment income plus the $180 dividend equals approx $960 for this qtr. alone. My basis in the stock is approx 22k, so the return this qtr is 960/22k = 4.4% . run this out to a year and it would yield over 16%. not bad for a stock that yields a yearly 3.86 % dividend..
watching XOM, but not seeing anything exciting, yet. more thoughts @ slwmoney.com
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