I plan to sell weekly put options regularity to create additional income and to reduce the length of time of my margin risk. Although I have been trading weeklies on occasion, I hope to employ this strategy on a regular basis.
Each of my three short positions would have expired worthless on January 23. However, I rolled my MCD puts to Jan 30 for a credit of $217.51. I chose to roll them to prevent the possibility of assignment in the event of a sudden decline near the end of the day.
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
01/16 5P JNJ $99 $78.75
01/16 5P MCD $89 $233.75 rolled
01/16 5P SBUX $74.50 $108.75
JNJ - Johnson & Johnson
MCD - McDonald's Corp
SBUX - Starbucks