... for a 1.76 credit.
Comments: Adding to my relatively small SOFI position here on weakness as a little bit of an engagement trade while I wait for a higher volatility environment in the broad market or exchange-traded funds.
My cost basis in any shares I may get assigned is the strike price (15.00) minus the credit received (1.76) or 13.24. The whole position is 2 x October 15th 20 covered calls, September 17th 15 short put, and (now) October 15th 15 short put. As with my September 17th 15, I'll run this to expiry or approaching worthless and -- if assigned shares -- will proceed to "wheel" it, selling calls against at the strike at which I originally sold my put. I'm comfortable with leaving these on through a vacation since they're kind of a "what happens happens" trade.
Comments: Adding to my relatively small SOFI position here on weakness as a little bit of an engagement trade while I wait for a higher volatility environment in the broad market or exchange-traded funds.
My cost basis in any shares I may get assigned is the strike price (15.00) minus the credit received (1.76) or 13.24. The whole position is 2 x October 15th 20 covered calls, September 17th 15 short put, and (now) October 15th 15 short put. As with my September 17th 15, I'll run this to expiry or approaching worthless and -- if assigned shares -- will proceed to "wheel" it, selling calls against at the strike at which I originally sold my put. I'm comfortable with leaving these on through a vacation since they're kind of a "what happens happens" trade.
