[Assigned on some Briggs & Stratton (BGG) Puts/Received Notification of Assignment on some Jul 40 Puts]
Dear Member,
This morning, I received notification that I was assigned on some of my Jul 40 Puts on Briggs and Stratton (BGG). That means that I have been required to buy the stock at 40 even though it is trading at about 35. I have said all along that assignment would be ok with me since I like the company. My actual net cost before commissions is only $37.40 because I have taken in $2.60 in premiums selling puts. My strategy now will be to immediately sell calls against the stock and thus further reduce my risk in the stock.
DISCLOSURE: At the time of publication, I am short Jul 40 puts and long stock in BGG.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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