Last week, in my 48-Hour Income service, we sold a cash-secured put on satellite communications company, Iridium (IRDM).
In 48-Hour Income, the goal of the service is to generate 1% to 3% returns per week by selling 2-day puts in certain stocks. IRDM put premiums were elevated at the time due to upcoming earnings.
The share price shot up after better than expected earnings.
As such, we were really never in danger of the share price dropping below the strike price, and were able to let our puts expire without any stress.
Those who sold the puts made a bit less than 2% on the trade in just about two days.
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