I sold 1 FCX December 80 put today in an IRA account.  The transaction netted me $198.25 into the account for an annualized return of 37.14% based upon the strike price and the 24 days left until expiration.

I’m a little uneasy about the market (who isn’t) so am being pretty cautious about which stocks and strike prices that I am selling puts.  I like basic materials in general and FCX in particular because of its good premiums.  I expect FCX will stay above $80 and this option will expire worthless.  Currently, I would not mind owning it at $80 and selling covered calls on it if it came to that.  On the other hand, because of the good premiums, I could roll the put out and down if my opinion of the stock should change.