I originally bought 100 shares of SWY back last December for $19.12/share. I’ve since sold a put and closed that out for a gain of $130. I also collected $140 for selling this call that was just assigned. Since shares were trading above the strike of $20, this call was assigned meaning I had to sell my shares for $20/share.
The original trade:
01/24/13 Sold 1 SWY Sept 21 ’13 $20 Call @ 1.40; posted here
After assignment of the call I received $2000 ($20 call x 100 shares) plus $270 in premiums plus a few dividends I’ve collected since then. I’ve had over a 20% gain in less than a year which is pretty good.
I did leave some money on the table though. I would have been better off just letting SWY run. However, SWY was more of a speculative position and I still came out with a nice gain so I’m not unhappy.
I’ve also already found a replacement for SWY. Hint: It’s a large retailer that I’ll mention on my weekly buys tomorrow.
I currently have 9 open options positions and have already met my options goals of $3000. I met and posted this options goal in July. My options income is still ahead of my dividend income although I expect to catch up and pass it this month.
I recently wrote up an introduction to options for anyone interested, posted here
My options page has been updated accordingly.