My option chickens all come in--all my short options expire worthless, so I get to keep my premiums. The one loser this month was Deere, and that would have been okay too, had I held until expiration.
The stock market has an ugly, ugly day. I am looking for more downside action before the end of the month. SPY seems drawn like a magnet to retest the March lows around 125 (current close 131.6), with what I see as a 50/50 chance that support will not hold this time. So the play is to buy puts, no? Maybe not, because the market is oversold, and out of the money put premiums are about triple the equivalent call premiums. This doesn't look like an easy play. I would prefer to bet against the put buyers that are bidding the options up so high, because they are usually wrong.
My options that just expired included index puts on SPY and IWM. The market didn't decline fast enough for those put buyers to make money. It wasn't even close. Despite a very bad stock market, I wasn't ever close to closing out those short puts. Time decay is the friend of the option seller.
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