That post pretty much sums it up today! Crazy day. I went to bed thinking that my CCs and BCSs were completely safe and that my CSPs & BPSs were in deep trouble. I put in $0.10 BTCs in on everything just to be safe because I’m on vacation on the Oregon Coast and sleeping in. Damn happy that I did. The CC and BCS orders hit at the open. I could not believe the rocket run to $198 when I woke up and checked the stock. The CSP order missed by $0.07 at the peak, so had to multitask and watch it and the storm waves while drinking coffee. Needed to get out hiking, so finally gave up and rolled to next week (-p190s to -p200s, -c202.50s to -c205s) for boatloads of credit. Must live our lives sometimes. At the end of the day, everything would have expired worthless, so definitely chose wisely for this week’s bets. Unfortunately, still have a boatload of 2/17 -c155s (from my brokerage change) and a few -c185s that will need assistance if SP doesn’t retreat. Not panicking yet and will use earned put premiums to slowly close/roll the -c155s up and out.
Learned a lot this week and hope to implement better timing of sells to improve earned premiums. Also, once I finally close out those DITM CCs, I’ll only sell CCs at ATM+10% on Thursdays. At this point, the CSP premiums are plenty to meet my needs, while the CCs just risk losing stock in the best company on the planet. Have a great and enjoyable weekend.
