Comments: Although the shares haven't appeared in my account yet, they will be there by Monday, since MJ finished sub-18.00 at expiry.
These started out as August 17th 18 short puts (See Post Below), for which I received a .49/contract credit, so my cost basis in the shares will be the strike price (18.00) minus the credit received (.49) or 17.51/share. Next week, I will proceed to sell calls against my shares, looking to reduce cost basis further. I'll have some work to do, since my cost basis is 17.51 versus 15.95 (where it closed Friday), so the trade is currently 17.51 - 15.95 "in the red" (1.56/contract).
These started out as August 17th 18 short puts (See Post Below), for which I received a .49/contract credit, so my cost basis in the shares will be the strike price (18.00) minus the credit received (.49) or 17.51/share. Next week, I will proceed to sell calls against my shares, looking to reduce cost basis further. I'll have some work to do, since my cost basis is 17.51 versus 15.95 (where it closed Friday), so the trade is currently 17.51 - 15.95 "in the red" (1.56/contract).
