I did a small experiment to get SPY at a discount and hold the cash in SGOV and collect that 5% 3 month t note yield while I wait Ie a Synthetic long SPY position, partake in the gains taxfree while collecting a better yield hoping to get put stock in 2025 not too far from the strike price. I had a feeling I was gonna get assigned the day before when I saw it had 0 intrinsic value left. my free lunch was not permitted so stock put on my account and I sold my SGOV but at least I collected a couple of months of interest and did get stock. Sold the 530 strike LEAPS 6/20/2025 Call for the same day for the SPY long position. So will collect the premium and dividends in the meantime. 04/18/2024 as of 04/17/2024 Buy SPYSPDR S&P 500 ETF 300 $570.00 -$171,000.00 04/18/2024 as of 04/17/2024 Assigned SPY 06/20/2025 570.00 PPUT SPDR S&P 500 $570 EXP 06/20/25
One of your short options positions has been assigned Date: 4/18/2024 Category: Account and Portfolio Our records indicate 3 contract(s) of your short SPY 06/20/2025 570.00 P options position has been assigned in account ending 0 open interest on that strike price. Looks like all the holders exercised etc. There are bids back and intrinsic value priced in the option again by the MMs.