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.
Your Blogs are awsome. Money isn't everything but everthing needs money capitalstars Financial Research Private Limited
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