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Trade Alert Update September 15th – TWO New Winners CHK and WLL September Option Expiration

TWO WINNERS CHK & WLL – September Option Expiration 

The strategy to sell 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 September positions that go off the board today.

 

6% return in month– Chesapeake Energy Sold September $4.50 Put at $0.25.  Closing CHK  price $7.35 so option expires worthless as per plan for max profit.

http://www.bullseyeoption.com/trade-alert/new-trade-alert-august-9th-chesapeake-energy/

 

 

5% return in month– Whiting Petroleum Sold September $7 Put at $0.35.  Closing WLL price $7.04 so option expires worthless as per plan for max profit.

http://www.bullseyeoption.com/trade-alert/new-trade-alert-august-23rd-whiting-petroleum/

 

OPTION WHEEL UPDATE

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

SDRL price is at $2.25.  A covered call will be sold in the future to lower cost basis once again.

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