Retirement Income

Stocks and Options

May 27th, 2008 at 11:20 am

Rolled out Diana Shipping Inc. (DSX) Jun08 Puts

I BTC 2 DSX Jun08 40 Puts and STO 2 DSX Sep08 40 Puts for a net deposit of $281.01 in my taxable account.

 I debated whether or not to roll these out.  DSX pays a good dividend, currently 10.09%, and has been raising it each quarter this year.  If assigned DSX in Jun08 I would have owned it at 33.79.  It is currently at 32.83.  I could then have sold out of the money covered calls for a decent premium and potential additional income if called away.  But then I decided to roll the Puts out and gather that additional premium instead.  Maybe next time.

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