No, I've had both legs of these for at least a month now, probably more. Definitely prior to the divestiture announcement. The spread has only widened a bit.

So what would happen to that July $23 call if share price remained the same until expiry?

Also those expire July 2022, not 2023 as I accidentally posted. The plan was to give myself time on the LEAPs after whatever stocks do this year and time to continue rolling the sold calls out on bumps to collect premium.

Close right here and keep some of these setups intact for tomorrow. I'm out of everything, see what tomorrow brings.

If Qs can finish ~318 I'll take it as a win.

Bob Knights Liver said:

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No, I've had both legs of these for at least a month now, probably more. Definitely prior to the divestiture announcement. The spread has only widened a bit.

So what would happen to that July $23 call if share price remained the same until expiry? If T share price remained at $20 through July, the July $23 Calls should expire worthless if you plan to hold them. Math says the holder of the Call should buy shares on the open market ($20) as they would be cheaper than exercising the Option at $23. (That does not always work, I have had OTM Calls exercised and made no sense, but it happened..) If you get exercised, you'll need shares to deliver. I have a hunch you'll be rolling forward at a profit. One other note, you mentioned the position was put on before the Warner Media divesture - you need to find out if your Call Option has an obligation to deliver the WMD shares too, if exercised.

Also those expire July 2022, not 2023 as I accidentally posted. The plan was to give myself time on the LEAPs after whatever stocks do this year and time to continue rolling the sold calls out on bumps to collect premium.

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jj9000 said:

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I know you're a divy king.

Have you ever looked at XYLD?

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I have not looked at XYLD. It's on my list to review. I have a friend that is getting solicited by an AG Edwards and an Edward Jones guy(s) to get in XYLD and he asked me to look at it. The Edwards and Jones fellows are in his golf foursome and they're always bringing him something to buy. Haven't had a chance yet to review. I'm preparing my McLennan County tax protest evidence with one eye and watching XOM with the other. Not making any progress on either!

Need one more good push down and then we can bottom.

those TSLA puts i got stopped out of early this morning would now be a 6X

Only thing worse than free-fallin' is being unable to see the ground.

What a day.

Are we near a bottom ?

I'm not saying this is where it's going but I have a SPY level at 407.78. Just saying I have a support level there and the low 5/2 was in the 405s

I think 3900-4000 is a great nuclear long area. Hope you guys didn't go super long yesterday.

I actually managed a green day. Decent week, probably smart to sit out tomorrow and see what happens.

Alright how much can we recover here before the close?

SPX back to May 2021.

TecRecAg said:

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And I thought I was the comedian around here.

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Still time. Qs back to 312...

Everyone just licking there wounds..... mighty quite here