Per the last Xerox post, options expired this weekend and CCI is the proud new owner of a third lot of Xerox at an effective price of $10.46....Unfortunaltely the stock is trading down near $10 this morning.
No real changes in the storyline. So as discussed in the past, CCI would look to add fourth and final lot on weakness. So today June $10 puts were sold for $.28 after commissions. A few scenarios.
1). The stock continues to fall below $10 and CCI will be the proud owner of a 4th lot at an effective price of $9.72. In this case, CCI would own a full 4 lot position at an average price of $10.44. It would be time to sit, watch and wait for awhile.
2). The stock continues to hold over $10 (chart support level). Best case CCI harvests the $.28 gain (2.8% monthly gain for the math challenged). However, more likely in this scenario the stock will have had some bounce during the month and CCI might harvest a smaller gain over shorter period.