Hello Traders,
A couple of adjustments today. We own January 2021 puts in QQQ and want to adjust the position. Remember that markets are closed tomorrow for Thanksgiving. They have a 1/2 day on Friday. So, we will sell next puts for income early. However, to not leave this position “naked” we also paying a couple of pennies to buy back this Fridays expiring puts.
Sold to open: QQQ Dec 4th (weekly) 285.00 strike puts
Bought to close: QQQ Nov 27th (weekly) 280.00 strike puts
Credit: 1.00
In addition, we are taking a very conservative position in GOLD. We are selling puts that will bring in over +1% in income. If the stock falls far enough, then we will be able to pick up shares at a deep discount. At those prices, we are willing to start a position in this stock.
Sold naked puts to acquire 100 shares of stock.
Sell to open: GOLD Jan 15th (monthly) 20.00 strike puts
Credit: 0.25
This is a pending order and we will need to hit our price today to get filled.
Happy Thanksgiving!