6/17/2022 Plan:
This week we take a look at General Motors (Ticker: GM)
6/17/2022 Plan (continued):
- GM – sell the Jul 15 26 put for 0.28 or the 27/25 if you don’t want to potentially take delivery of shares.
- Prices are as of market close 6/17/2022, actual fill and strikes may differ depending on Monday’s open, post will be updated accordingly.
- All trades are for educational purposes and do not constitute advice
6/17/2022 Commentary:
Similar to last week – feel free to sit out until the market bottoms or place more negative delta trades. For others, this week is a way to go shopping to buy shares in GM at a much lower price. One can also do the put spread if they prefer a trade.
Feel free to Reach out with questions on this or anything else!
6/21/2022 Entry:
Sold GM Jul 22 27 put for 0.30
6/26/2022 Update:
The GM put is now worth only 0.12 and can be closed for a quick win or held to try and capture more premium. I am holding on as I’d still like the shares at 27 if GM drops.
7/10/2022 Update:
The short puts are looking great with GM trading at 32.31 and over $5 to our short strike. We still have a couple weeks on this trade, so if you can get out cheaply, feel free to do so.
7/17/2022 Update:
The GM puts expire this week. With GM nearly at $33, this is almost $6 out of the money. It can be closed for 0.01 or 0.02 at any time this week. If you let it go it is Unlikely to go in the money, but there is always that risk, so keep that in mind as we head into expiration on Friday.
7/24/2022 Close:
The GM puts expired worthless on Friday, which provides $30 of profit for each put sold. GM reports earnings this next week, so I’d avoid selling more premium until after earnings are announced.
