ECA Update

I meant to write about updating my expiring options last week, but was out of town until yesterday and didn't have a chance to put it together. The Encana naked puts have gone away from me since pretty much day one and are significantly under water. I rolled them again and got very little premium even rolling it out all the way to July. If these are still deep in the money in July and the premiums aren't there, I will look at letting the stock get assigned to me. If I can only grab $0.30 in premium, I'm probably better off collecting and reinvesting the dividends.

• Buy to Close: 1 ECA Jan 21 2012 27.0 Put @ $9.53
• Sell to Open: 1 ECA Jul 21 2012 27.0 Put @ $9.87

The Numbers

• Cash: +$34