Once again I am assigned the option.
I sold the Put option and received a net credit of 54.96
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
$345.04 . Two months in a row I overpaid for 100 shares of Fold stock. Some might call me dumb but Fold holds more bitcoin than I do plus they added to their stack!With this assignment 50% of the shares will be moved into the Stacker Stocks Portfolio that I am working on. So congrats stackers! You now own 100 shares of Fold!!
Now it’s time for December’s Cash Covered Put Sale. Looking at the option chain the pickings are slim
I was going to go down to a $3 put but the market is only paying $0.15 good for a $15 credit. Since I want a little more fiat juice I am going to go with the $4 put maximize the profits for the stackers. If fold closes above $4 a share in december (highly unlikely!!!!) then stackers get 50% of this estimated $95 profit
If assigned then the Stacker Stocks portfolio will get an additional 50 shares of Fold Stock!
See you all at the end of December!