NEW UCPTD Trade Alert - Option Buy Back - GS - Cash Secured Put

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	NEW TRADE ALERT
	Tuesday, March 31, 2020
	Cash Secured Put Option Buy Back
	Closed a position with Goldman Sachs (GS) this week
ORIGINAL TRADE	TRADE KRUM! (see details below)		DAYS	Cash on Cash %	Annualized
	-$421.04		22	-2.37%
	The trade results and did it meet expectations?
	Decided to take a loss on this Cash Secured Put I placed on GS back on Mar-9 because its becoming very clear to me that I will probably be early assigned or will be assigned these signs at a much higher price then what I want to be assign them. The spreadsheet below shows it perfectly ... I would rather lose -$414 then assume a -$15,000+ loss handed to me from day one ... I will try to ROLL this CSP to a ATM CSP and try to mitigate this loss with a credit.
	ORIGINAL TRADE BREAKDOWN
	DATE	COMPANY	SYMBOL	SHARES	STOCK WAS
	Mar-9	Goldman Sachs	GS	100	$177.50
	STRIKE	EXPIRATION	PREMIUM RECV	CONTRACTS	CoC % ROO
	$177.50	Jan-15	$16.00	1	-2.37%
BUY BACK	WHY DID I BUY THIS OPTION BACK?
	read above on this one
	RESULTS FROM THE OPTION BUY BACK
	SYMBOL	WHEN STOCK WAS TRADING @ ~			CASH PROFIT
	GS	$177.50			-$421.04
	PREMIUM RECV	BUY BACK PRICE	REAL $ ?	DIFFERENCE / TV $	CoC% GAIN
	$16.00	$20.20	$0.00		-2.37%
	Always look at a company's chart ... it tells a story and that story could be UP or DOWN
	Education Corner
	Great Covered Call video posted at
	Cash Secured Put - Description -The cash-secured put involves writing an at-the-money or out-of-the-money put option and simultaneously setting aside enough cash to buy the stock. The goal is to be assigned and acquire the stock below today's market price. Whether or not the put is assigned, all outcomes are presumably acceptable. The premium income will help the net results in any event. The investor is bullish on the underlying stock and hopes for a temporary downturn in its price. If the stock drops below the strike, the put may be assigned. That would allow the put writer to buy the stock at the strike price. The effective purchase would be even lower: strike price less the premium received. There are two principal risks. First, the stock might not only dip but plummet well below the strike price. The investor must be comfortable with the strike price as an acceptable long-term acquisition price, no matter how low the market goes. Source - https://www.optionseducation.org/strategies/all-strategies/cash-secured-put
	Disclaimer - Yes - at the time of this posting I do have a position in this equity. By posting this I am by no means recommending this equity and am not front running for its performance. I have risked my own money and am accountable for the trade results.
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