My latest set of
CSCO puts will expire this week. CSCO has been hanging right around the $16 strike price and normally I'd wait until Friday before rolling them forward, but I'm heading on vacation for a week. Instead of possibly getting put the stock, I'm going to take advantage of the recent volatility and just roll them out now.
- Buy to Close: 2 CSCO Aug 20 2011 16.0 Put @ $0.23
- Sell to Open: 2 CSCO Oct 22 2011 16.0 Put @ $0.96
This brings the total premium I've collected on these puts to $1.37. If I do end up getting assigned the stock, it brings my purchase price down to $14.63...over 7% below the current price. If they expire worthless in October, I'll have made about 32% on margin requirements in just 5 months(going back to the original June 03 puts).
Update: Expired!
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