sell (to open) -10 Sep 16, 2016 $215 puts at $0.54
credit received: $0.54 ($540)
Fri. 9/16/2016 (8:45:49 am, PT) (expiration)
buy (to close) +10 Sep 16, 2016 $215 puts at $1.83 (debit)
sell (to open) -10 Sep 30, 2016 $214 puts at $2.83 (credit)
new credit received: $1.00 ($1000)
Comments:
I "rolled" my Sep 16 short puts to the Sep 30 expiration cycle because:
- my Sep 16 puts were in-the-money on Sep 16 (expiration)
- simply buying back my ITM puts would have resulted in a LOSS of $1290 (I don't like to lose money)
- I wanted to give my options more time
- I wanted to collect another "credit"
Fri. 9/30/2016 (8:04:21 am, PT) (expiration)
buy back Sep 30 puts at $0.05 (debit)
PROFIT: $1490
SUCCESS!
Comments:
By "rolling" my ITM puts, I was able to come out with a PROFIT in the end.
