Keep it going with CSCO

Barring a severe drop, my naked Cisco puts look like they're going to expire worthless tomorrow. I'm going to extend this trade again. I could roll them and pay the $0.03 or whatever to buy back the October options, but I'm not going to bother since they expire tomorrow.

• Sell to Open: 2 CSCO Nov 19 2011 16.0 Put @ $0.40

This brings the total premium I've received on rolling out these puts to $1.77 each.

The Numbers

• Cash: +$80
• Short Option: -$80
• Margin: -$541