PG is up big today on a general down day in the markets. I used this opportunity to close out my July 21 ’12 put. I bought back the July 21 ’12 $62.50 put at $.83 earning a meager $59 not counting commission costs. I’m also already heavy in the consumer sector and decided this is my chance to close out the trade so I am not assigned 100 shares of PG which would have automatically become my largest holding.
I will probably hold off on selling any puts until after the 21st when I expect to be assigned 300 shares of BBVA (my speculative dividend play) and to have my VOD puts expire.
You can check out my options activity on the options tab.