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Essentially we are taking it where the sun don't shine on the intrinsic value of the short options as our stocks relentlessly rise.
I didn't have time to update live again, but on Friday I recorded a couple of adjustments.
GS continues to rise in essentially a straight line since inception of the strategy, so once again to tweak the collection of extrinsic vale, I rolled from the Feb $110 calls to the Feb $115. Once again, we lose on the intrinsic value, but collect the bulk of extrinsic ahead of time and writing closer to the money for some more extrinsic.
Here's the state of play:
GS continues to rise in essentially a straight line since inception of the strategy, so once again to tweak the collection of extrinsic vale, I rolled from the Feb $110 calls to the Feb $115. Once again, we lose on the intrinsic value, but collect the bulk of extrinsic ahead of time and writing closer to the money for some more extrinsic.
Here's the state of play:
NOV presented the same opportunity so we rolled from the Feb $75 to the Feb $82.5
No action necessary on FCX
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