We are initiating another cash-secured-put in CRM. The last 2 weeks we've been able to sell a put below the market and absorb the premium in this equity. We plan on taking assignment of CRM if we are executed so make sure you are sizing your option trade to be able to take deliver. Each contract equals 100 shares of CRM, which is currently trading at just above $220, or about $22k would be the position size for this trade if assigned.

This time we're backing down our price a bit - and we're going to sell a $217.50 Dec 18th CRM Put at $1.70. We collect $1.70 if CRM stays above $217.50 this week. If we get assigned we'll take delivery and have an entry into CRM at just above $215 for our long term equity portfolio.

I will have another update shortly updating our positions in DIS, Uber, and MCD, along with some other general information for the week, but wanted to get this trade update out now. CRM is a strong company in the cloud with their enterprise software that was just added to the DJIA earlier this year, and it has pulled back all the way to its break out area.