Hello Investors,
A couple of adjustments today:
We own shares of TMUS. A large investor (softbank from Japan) is selling their stake. As existing shareholders, we have the option to buy 0.05 shares per share owned at 103/share. We are contacting our broker to get more information and likely exercise that right. In a nutshell, for every 100 shares owned, you will be able to buy 5 more shares at 103/share.
We bought 30 more shares of EFA at 61.04 per share. That brings us up to 60 shares overall.
In addition, we sold an OTM “strangle” in GM. We have been selling naked puts or 1×2 put spreads over the past few months. We own 100 shares. This will order will create a covered call/naked put overall. We suspect there is a high probability both options will expire and we will make the credit. However, we are prepared to own 200 shares overall as well.
Sold to open: GM July 17th (monthly) 29.00 strike calls
Sold to open: GM July 17th (monthly) 23.50 strike puts.
The order filled at +0.90 credit.
Have a great weekend!