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One Winner and Two WHEEL IT – December Option Expiration Update

December Option Expiration Update


SunPower WINNER…

WHEEL IT…  NUGT is below breakeven to get shares assigned



The strategy to sell cash secured puts is a method to buy stock at a discount or get paid not to… taking advantage of the market fears and volatility with high probability plays.


Below updates the December positions that go off the board at end of today Friday.  



5% return in month– SunPower Sold December $6.50 Put at $0.30.  Break even at $6.15.  Current  SPWR price $7.40 so option will expire worthless today as per plan for max profit. 






5% potential return in a week– NUGT Gold Miners ETF Sold December $7.50 Put at $0.45.  Break even at $7.15.  Current NUGT price $6.05 so will be long 100 shares for each option sold.  A January covered call will be sold to lower cost basis.  











Originally sold Southwestern Energy November $11 Put at $0.55.  with stock assigned at $10.45.  Then sold the December $12 Covered Call for $0.40 to lower cost basis to $10.05.  

With shares at $10.50, SOLIDLY ABOVE BREAK EVEN, the $12  Call will expire out of the money.  A January covered call will be sold to again lower basis.






Originally sold SEADRILL May $4 puts for $0.25 http://www.bullseyeoption.com/trade-alert/new-trade-alert-may-2nd-seadrill/  to put break even basis at $3.75. 


SDRL stock was assigned with July $4.00 covered call sold for $0.25 June 7th on long shares to lower stock cost again to $3.50


Stock ABOVE BREAK EVEN at $3.75 and presently working January Covered Call order to lower cost basis once again.

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