Third time in a row I am assigned the $4 Fold put!
I sold the $4 Put that expired yesterday and received a credit of $99.96
Fold failed to rise above $4 a share thus I am forced to buy 100 shares of the stock at $4 a share.
This equals a loss of $300.04
Three months in a row now I overpaid for 100 shares of Fold stock. So is life we continue on!
With this assignment 50% of the shares will be moved into the Stacker Stocks Portfolio
We are down but we aren’t out!
Now it’s time for Jan’s Cash Covered Put Sale.
Looking at the option chain the pickings are slim very slim.
I wanted to go down to $3 out but it has no bid! The $4 call only pays $0.25 per contract.
Feb. doesn’t look any better
I want to get paid at least $50 and keep the assignment price at $3 to $4.
For now we will take a wait and see approach to see if more liquidity comes to the market.
I will just add to my fold stack the normal way. Will see it things improve in Feb.
@remindme in 1 month