I had a put assigned today (yes, on a Sunday) in my brokerage account for INTC. The put expiration date was the 22nd. You can see the puts I've sold on my options tab here.
I originally sold a $23 put back on 09/10 and collected a premium of $110. My cost to purchase these shares were $21.90/share not counting commissions. This slightly raises my cost basis but I have another INTC put expiring in July that will lower my cost basis however it turns out.
I now hold 398 shares of INTC and it is my largest holding. I continue to believe that INTC will be a competitor in the mobile/handheld device space and it still presents a good value at these prices.
This 100 share purchase provides me with an additional $90/year in dividend income.
This will likely be my last purchase of the year.
Happy Holidays!
If we can get a bit of a pullback after the Christmas closures then I'll be looking to sell a put on INTC. I think the value is almost there but I just don't want to add to one of my larger positions since there's a lot of questions about it. Although I do think it'll be fine in the long-term.
ReplyDeleteI need to get back into the options selling business. Although depending on how the markets behave I might be having to buy outright due to the values available.
Congrats on another $90 added to your dividend total.
Thanks PIP for stopping by to comment. I will probably hold off on selling any more INTC puts just because my position has become overweight. I need my other positions to catch up in value. I do plan to keep selling puts to supplement my dividend income and allow me to get better entry prices on stocks I want to own anyways.
ReplyDeleteI also plan on posting a yearly summary later in the week once I'm back in town from the holidays.
Have a safe and happy holidays!
I am looking at INTC as my next candidate. I have small account, so I cannot be adding too many shares at this point, but planning using puts to be assigned into a position. Nice seeing you working it this way. It is a great inspiration (and the stock is nicely priced for my cash availability).
ReplyDeleteHi Martin,
DeleteThanks for stopping by. INTC is my largest holding now and I'm using puts to lower my cost basis. I think they will be fine long-term.
Good luck and I look forward to seeing your options trades!