I never mind answering questions asked in earnest.,
"which expiration, Oct or Nov?"
I sold a bunch of the Octobers AND Novembers. Plus, some person was offering $0.20 cash for the November $2.50 puts a little bit back, so I took ALL of those that were offered at that price. All of them. Now, there is a $0.00 bid, as it probably should be. I just happened to look at the right time to see this guy at 20 cents.
"Would you consider writing $7.50s? And would you write a Feb 2026?:
No and no. I won't do the $7.50s ONLY because I am super conservative. The Novembers are $1.85, giving you a cost basis of $5.65. I'd rather do the $5 puts, at $.45, giving me a cost basis of $4.55 if put to me. I like the stock at $5.65 but I LOVE it at $4.55. So I'll take a little less in cash, tie up a little les in marginability, and stay at $4.55 for my buy in price if it drops. I won't do February's only because the price isn't enough. I can do them every month between now and then and add up to more money.
"I ask because they are nice premiums especially if DOD contract is issued shortly they
could be money makers."
Could be. But again, I play the conservative odds. I think the $5 puts ARE money makers. The $7.50 puts, as you say, COULD be. And if they work, they will obviously make more profit. But I lock in lower prices, lower profit, and still over the year average 30% - 40% almost EVERY year on my trading. Even in 2022, the NASDAQ was down 33%, the S+P 500 was down 21% and the DOW did the best, down 8.8%. I dipped, but still ended with a POSITIVE 15.11% for the year. Actual number, actual accounts. And no, I don't say it to brag. I say it to show that doing IN the money calls, like the $5s, and OUT of the money puts, again like the $5s, make money consistently, even in a down market. If this stock goes from $6.48 to $5.26 and I sell the $5 calls I still make the same return as if it goes up. And the puts expire too. So it depends if I am long or out, and I do the calls when in and the puts when out if I still like it. My intent here is to show the PROCESS works, more than saying "I" work.
"Additionally, when do you think December options will be available?"
Some stocks trade options with the nearest two months plus their regular cycle. So December will come out when October expires. Monday, October 20th they will trade. Obviously, the cycle is cycle 2, Meaning February, May, August and November. That's also why November has the $1.50 options and October does not. It was out a while ago, when the stock was still lower. October was not out at that time. October came out when the Augusts expired.
"Thanks in advance."
You are welcome.
Let me show you one more ...
If you bought UAMY today. At $6.45. The close today. And wrote the IN the money $5 calls for November. Wrote at $1.95. Follow me here. Your investment for the day would be $4.50. Come November, which is 2 months from now, only two things can happen. It is above $5 or it is below $5. Remember - I'm CONSERVATIVE. Odds above $5? Yeah, I'd say pretty good. Okay, if it is above $5, whether that be because it went down to $5.10 from today's $6.45 or because it goes up to $8.50 by then, or if it is still unchanged at about $6.50. ALL of those potential November prices, up OR down, means you are forced to SELL it at $5 per share. Yes, your gain is limited. Okay, you sell at $5. What is your profit? You make $0.50 per share profit, on the $4.50 per share you invest in it today. That is 11.1% profit. In 2 months. Do that every 2 months, and you earn 66.7% in a year. And what are the odds it is not above today's price, but merely above $5 per share??? I'd say REALLLLLLL good. So you make 11.1% on your money, in 2 months, and you are out again. With odds that say that is exactly what you will probably make.
Opposite possible outcome? It is below $5 per share on November 21st, Your option expires, and you own it at $4.50. Knowing it is at $6.45 today, with good things happening, would you like to own it at $4.50? PLUS you can write ANOTHER option for 2 MORE months. For MORE than $.50 spread this time, since it would be below $5 and people would expect it to go back up. Get another $90, as my expectation. Now, by January, you own it at $3.60 per share, trying to sell at $5. Yes, you cap your gains, but so high that it doesn't matter.
In fact, I think I "may" have convinced myself to buy back in again tomorrow, especially if it moves a little in the morning, and then write the calls. I have a hard time saying no to 11% in two months. Especially on a good stock. But I also think this one right now is ahead of itself. Hey, it was below $5 a share just a WEEK ago. Momo is great, but when it dies it can go back a long ways. So we'll see ...............
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