In yet another rollup and out, I rebought the RAD (Rite Aid) put of $3 for 2015 and sold the $4 of 2016 for $.80 10 times; net profit of $576. After buying it only in Aug at $3.58 and selling the Strangle, it LEAPt up to its current $5+ prompting the rollup into a "Calendar Straddle".
Spending $3589 for the stock, I have brought in: $672,437, and now net $576, or $2357. Max loss is only $1232 no matter where it goes. Being in an IRA, I did have to sequester a $4000 requirement in case it gets put to me in 2016. As the 2015 CALL expires, I shall sell another 2016 Call. RAD pays no dividend and there is no appreciation in a Straddle (no Home Run).
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