SOLD -2 GM 100 20 AUG 21 52.5 PUT @3.85 BOX
We have $52.5/ $57.5 put spread on GM and this put spread is completely ITM.
The short put at $57.5 will be assigned to us and we will become owner of shares of GM.
I want to own GM shares, and hence selling the long put and collecting $$s to reduce the cost basis of the ownership
Next I will sell covered call on GM for October expiration