My income generating strategy involves mitigating potential losses by buying to close in-the-money short puts; then selling to open puts at a future expiration at the same strike for a credit. I prefer to make these trades on the day of expiration or a few days prior. However, the present market conditions created a few exceptions.
In addition, I rolled my 15 YUM $72.50 puts to April $70. If my margin would have been higher, I would have rolled them to Nov $72.50. This is the third time I have rolled this position.
I also rolled my 5 XOP $61 puts to November $59. I chose the $59 strike because I currently have a Nov $59 position. Consolidating my two XOP positions will enable me to roll them with one trade next month, if necessary.
I rolled CPG, ALA, and CVE to November at the same strike for a credit. These positions would have been assigned if I had left them open.
My 20 Surge Energy (SGY.TO) puts were assigned. I chose not to close the position because I want to own 2,000 additional SGY.TO shares.
The following is a list of my expired option positions. Premiums are the amounts of cash I received after commissions. My option premiums are included as income in my monthly blog posts on the date the income is received.
Date Position Premiums
08/15/14 10P ALA $48 $327.51
- rolled to Nov
04/22/14 4C BTE $50 $165.01
- expired worthless
08/13/14 5P CPG $42 $268.76
- rolled to Nov
09/19/14 5P CPG $42. $533.76
- rolled to Nov
03/12/14 5P CVE $26 $308.76
- closed
08/12/14 10P CVE $30 $177.51
- rolled to Nov
03/12/14 5P ENB $42 $153.76
- expired worthless
08/01/14 10P FTS $32 $177.51
- expired worthless
03/12/14 5P IPL $27 $358.76
- expired worthless
03/12/14 3P KEY $62 $631.26
- expired worthless
03/12/14 3P PPL $36 $226.26
- expired worthless
08/22/14 15P SBUX $67.50 $151.25
- expired worthless
09/04/14 20P SGY $8 $265.01
- assigned
08/25/14 3C SU $46 $103.26
- expired worthless
03/12/14 3P TD $46 $154.26
- expired worthless
05/20/14 5P TGT $52.50 $568.74
- expired worthless
08/12/14 5P TGT $55 $383.75
- expired worthless
08/19/14 25P XOM $90 $783.74
- rolled to Nov $87.50
10/06/14 5P XOP $61 $218.75
- rolled to Nov $59
09/16/14 15P YUM $72.50 $3,586.18
- rolled to Apr/15 $70
Ticker Symbols
ALA - AltaGas Ltd (TSX)
BTE - Baytex Energy (TSX)
CPG - Crescent Point Energy
CVE - Cenovus Energy (TSX)
ENB - Enbridge Inc (TSX)
FTS - Fortis Inc (TSX)
IPL - Inter Pipeline Inc (TSX)
KEY - Keyera Corp (TSX)
PPL - Pembina Pipelines (TSX)
SBUX - Starbucks
SGY - Surge Energy (TSX)
TD - Toronto Dominion Bank (TSX)
TGT - Target Corp
TRP - TransCanada Corp (TSX)
XOM - Exxon Mobil Corp
YUM - Yum Brands
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