COP has had some recent weakness after the split, partly due to declining oil prices. It’s one of my major holdings and I have no problem if I get assigned 100 shares at what I believe to be a great price.
So today I sold 1 COP Aug 18 ’12 $50 PUT @ 1.96. I believe this is a win/win scenario. If COP stays higher than $50 for 3 months then I am paid $196 to wait. If COP dips below $50 then I will get assigned 100 shares of COP @ $50/share. My cost will be $48.04 / share before commissions. This would be a YOC of 5.5%!