Looking at the market today, I had to ask myself why I have two open Cash Secured Put trades when the VIX was trading under 14 and I can make almost 5% on my cash? I decided to leave my Verizon Communications Inc (VZ) trade open since I still want the stock at this level and feel the high dividend is safe. I might even roll the trade up for more Premium – same time frame.
I decided to close out my Campbell Soup (CPB) trade – with the realization that weekly options might not be for me. I put the trade on last Friday, expecting at least some theta burn before they declared earnings tomorrow morning, so I could do a quick roll for more premium – but received a big nothing burger. Probably not the best example of weekly options trading since it was based on elevated volatility, might try something else with weekly options once the VIX livens up.
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