I’m long BBVA and have been selling puts for over a year. The stock has rallied since the Spanish banking crisis that was going on around last summer. They are one of my top performing stocks and they keep hitting 52-week highs. I’m currently keeping BBVA as a longer term holding. I am a little biased as I bank with them and they financed my mortgage. They do still pay a nice dividend.
The original trade:
03/26/13 Sold 3 BBVA Oct 19 ’13 $8 Puts @ 0.75; posted here
I would have been happy however this trade turned out. Since BBVA went on a huge run, the option expired over the weekend worthless and I kept the full premium of $225.
I currently have 7 open options positions and have a total YTD options profit of $4149 before commissions. I have closed out 41 options so far this year.
My options page has been updated accordingly.