Rolling out CSCO

As I mentioned on Friday, I was looking at rolling over the naked weekly puts if they were going to finish in the money. I ended up rolling them up one week for a net credit of $0.17.

• Buy to Close: 2 CSCO June 03 2011 16.0 Put @ $0.02
• Sell to Open: 2 CSCO June 10 2011 16.0 Put @ $0.19

That brings the total premium we've collected on the CSCO weekly puts to $0.24. That comes to about a 1.5% return on the stock price or about 3.5% return on margin if the options expire. That's in only a week and a half and brings our break-even price on CSCO to $15.76.

I haven't updated the model portfolio recently, but I will try and do that this afternoon after the market close.