Aug $47.50 options sold a month ago, were assigned this option expiration cycle.
This is the 5th time puts were sold against the stock.
The other 4 times they expired for a gain. So...the 5th time is a charm.
In total over the 5 transactions, CCI pocketed $5.83 in option premiums.
So theoretically the break even point on this lot is $41.67.
Of course the stock is now down at $38.73. Earnings estimates for this year are still at $5. That estimate may get lowered, but even at $4 in earnings this still would have an attractive multiple.
As previously documented, we also have naked $37.50 Sept puts to add a potential third lot of the stock.
For now, we will just sit and wait awhile to see how this develops