SOLD -2 GM 100 20 AUG 21 52.5 PUT @3.85 BOX

Published Date : 08/20/2021
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

 

 

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