June Expiration – Cash Secured Put Sales/Option Wheel
The strategy to sell puts as a method to buy stock at a discount or get paid not to… to take advantage of the recent market fears and volatility spike.
Below updates the June positions that go off the board today.
6% return in month– Twitter Sold June $14 Put current TWTR price $16.05 option will expire worthless as per plan for max profit.
5% return in month– Transocean Sold June $9 Put current RIG price $11.20 option will expire worthless as per plan for max profit.
13% WINNER TEXTBOOK OPTION WHEEL CYCLE
Chesapeake Energy sold June $4.50 covered call on assigned long shares from November cash secured put sale to lower cost basis to $4.00.
Currently CHK price is at $4.62. IF price remains here at close the shares will be taken away to close out position with 13% profit.
If not above $4.50 at close a July covered call will be sold to lower cost basis again.