This month’s options expiration produced full profits across the board for all my expiring naked put option positions (see details below) – no surprise given the market’s continued buoyancy even in the face of various negative news events. The market’s resiliency however has also limited my put selling opportunities, and as a result I have only one new naked put position to report since last month’s expiration (see below).
Looking ahead, I have seven expiring naked put options positions in April. All but one are currently trading comfortably out of the money (OTM) so – barring a significant market downturn between now and then – I don’t currently anticipate making more than one adjustment to those positions.
Options expiration results:
The Carlyle Group LP (CG) – Some March 25-strike put options that I sold against CG on 9/13/13 (for $2.70), as part of a roll-down/roll-out risk reduction adjustment of an existing $30-strike naked put position, expired OTM for a total 12-month net return of 3.4%.*
Valley National Bancorp (VLY) – Some March 10-strike put options that I sold against VLY on 9/19/13 (for $0.80), as part of a profit-taking roll-out of an existing $10-strike naked put position, expired OTM for a total 12-month net return of 13%.*
New positions since last month’s expiration include some January ’15 23-strike naked put options in Silver Wheaton (SLW).