Initially bought options at an effective price of $17.
$16 put options assigned this weekend.
Hence CCI is the "proud owner" of a second lot of the stock at an effective price of $15.75
Unfortunately Cisco is now down to $15, and things look bleak.
However, there is still about $8/share in cash on the books means the estimated $1.60 in earnings is even cheaper and the div yield is up to 1.6%.
Time to sit tight for awhile and see what news earning season brings for the stock.
At that time CCI felt $17 was a good entry price.
Clearly, what I meant to say is $16 is a good entry price....lol.
That is where it is trading now.