2- Bull put spread on $LMT $145/$135 strikes 23MAR18: premium collected $251 on $2000 margin risk
After I opened $LMT bull put spread on Feb 26, 2018, $LMT fell below my strikes and flattered in between. I didn't pay much attention to it but I knew I had to roll out my spread in order to save my spread. That very Friday, I totally forgot about $LMT as I went to work for a few hours then took a couple hours off mid-morning to watch a free movie Wonder at the theaters. By the time, I got back to work, my heart dropped a little bit as I realized that I didn't roll my spread!
$LMT was actually trading below my long strike at $135. Lo and behold, end of day, it closed just above $335 meaning my long strike is worthless and I got assigned my short puts for 200 shares @ $345.
Today, I am on margin for $69k and I need to lower my margin basis. I sold a couple of calls against $LMT to hopefully fund my financing cost and to get out of the stock at a profit eventually.
1- sold covered call on $LMT $347.50 strike 29MAR18: premium collected $190
1- sold covered call on $LMT $335.00 strike 20APR18: premium collected $217
I will keep on selling one weekly call, until it gets called away to reduce my margin load.
