Today I am reporting an options trade with INTC on 03/06. INTC shares have been up over the last few days so I decided to close out my Oct puts I had and open some longer dated puts. I continue to be bullish INTC long-term and will continue selling puts up to a position of 1000 shares.
The Trades:
1.)
I Bought-To-Close 2 INTC Oct 19 ’13 $22 Puts @ 1.79.
I originally sold these puts for 2.53 on 01/08.
My profit was $148 before commissions in less than 2 months.
2.)
I Sold 2 INTC Jan 18 ’14 $22 Puts @ 2.23
This trade could turn out a few ways:
1) I hold shares until expiration and shares are trading above $22.00. I will get to keep the $446 in options premiums.
2) I hold shares until expiration and share are trading below $22.00. I will get assigned 200 shares of INTC at a cost of $19.77 share. This price would give me a YOC of 4.6% without any further dividend increases.
3) Shares of INTC go on a run and I decide to buy back the put early for a profit less than $446.
I currently have 16 open options positions and a total options profit of $1178 for 2013. My options page has been updated accordingly.