Options Trade - COP

My recent options activity has freed up some cash to use to sell more puts.  I decided to sell another put against a company I already own and want to own more of.


I sold 1 COP Nov 16 '13 $55 Put @ 2.52

This trade could turn out a few ways:

1) I hold shares until expiration and shares are trading above $55.00.  I will get to keep the $252 in options premiums.

2) I hold shares until expiration and shares are trading below $55.00.  I will get assigned 100 shares of COP at a cost of $52.48/share.  This price also corresponds to a yield of 5%.

3) Shares of COP go on a run and I decide to buy back the put early for a profit less than $252.

I currently have 14 open options positions and a total options profit of $2257 for 2013.  My options page has been updated accordingly.