I usually aim to get my Friday options expiry articles out on time, but this week was a bit different. My Friday was packed, not only in the options market but also in life outside of trading. After managing a series of options rolls, my partner and I decided to take the opportunity to explore a few nice restaurants in Tbilisi. We wrapped up the night at a cozy pub, enjoying a couple of pints of Guinness together. So, my apologies for posting this on Saturday!
Now, let’s dive into what happened in the markets yesterday.
Rolling BAC Put to Next Friday, September 27, for $16 Premium
One of the key trades I managed was rolling my Bank of America (BAC) short put. Instead of letting the option expire, I chose to roll it out another week, giving myself some more breathing room. This time, I pushed it to next Friday, September 27, collecting a $16 premium in the process. I’m keeping an eye on BAC to either continue rolling for premium or potentially take ownership of the shares if they dip in price.
Selling Additional Call on BMY for $72 Premium
I also sold an additional call on Bristol-Myers Squibb (BMY), a stock I’ve been gradually building into a covered call position. The $72 premium I received fits perfectly into my strategy of income generation alongside the stock’s dividend.
Rolling TRLY Calls to December 20 Expiry for $32 Premium
Next up, I had two call options on Tilray Brands (TRLY) that were approaching expiry. I decided to roll these forward to December 20. This gives me a few more months for TRLY to move favorably and provides me with the flexibility to manage the position further.
Total premium collected from stock options this Friday: $114.91, with most expiry already next week
Closing Long ETH Perpetual Future and Switching to Selling 1-DTE Puts
On the crypto side, I took some action with my Ethereum (ETH) trades as well. I closed my long ETH perpetual future to reduce some exposure and shifted to selling 1-day-to-expiry (1-DTE) put options. At the moment, I’m working with a contract size of 1.3 ETH. The short-term premium opportunities on ETH have been consistent, and I’m focusing on capturing that daily premium while managing risk carefully.
Final Thoughts
Friday was a whirlwind of activity, both in the markets and in life. Rolling my BAC put, selling a BMY call, extending my TRLY position, and adjusting my ETH strategy were all critical moves as I keep fine-tuning my portfolio. But after the markets closed, I’m glad we took the chance to unwind, exploring some great Tbilisi restaurants and capping off the night with Guinness at a nice pub.
If you’ve had a busy Friday yourself, either in the markets or enjoying the weekend, I’d love to hear about it. Let’s see what next week brings in both trading and life!