Covered Strangle: CSCO-Feb-2022

When I post the trades, I will not post them when I enter them. I am not giving financial advise. I will update the trades here until I get called out.

Acronyms:

BTO = Buy To Open

STO = Sell To Open

BTC = Buy To Close

STC  = Sell To Close

The trade

Date: Feb. 1

BTO 100 shares CSCO for $55.42

STO 1 call contract March 3, 59 Strike for 70c

STO 1 put contract March 3, 49 Strike for 47c

Total credit $1.17 or $117 on a $5,542 investment for 31 days. This is a 2.11% return for 31 days.

Now it is time to let the trade work. The order to buy back the short options for 5c are in the system.

Update Mar 04 (posted date):

On Feb 22, my order filled to buy back the short 49P for 5c and on Feb 23 my order to buy back the 59C for 5 cents. 
This makes realized profits of 1.07 or $107 on a $5,542 investment (no commissions included). This is a realized profit in the bank of 1.93% in less then 30 days. I still own the 100 shares I bought at $55.42.
I noticed that on 2/24 and sold a 57 call and 49 put

STO 1 call contract April 1, 57 strike for 65c

STO 1 put contract April 1, 49 strike for 66c

Now today one can question if selling the 57 call was a good idea. The way I see it, if I do get called out April 1, I still make $1.56 per share and I get to keep the option premium. And I already made 1.93% on this. This works for me. I thrive for consistency and not home runs. I do take home runs though.