As you can see Corning sell put option represents a high chance that it will be exercised. I sold put at 31 and as I am typing, the price has dipped to 29+.
Lesson 1 – Never sell put/call into the earnings session unless I am very confident of the direction where it is heading. Even so, I should try to avoid at all cost because the stock price becomes very volatile.
Lesson 2 – I need to do more homework on the individual business.
Lesson 3 – I should create a shopping list just for options – income generating purpose only.
There is a high probability I need to standby some funds for Corning and UAA (why did I buy UAA and not UA?!).
Another mistake I made this week is to sell out half of HPH Trust USD because the share price recovered to USD 0.46 after it ex-dividend. You can call it a mistake but I want to rebalance my portfolio and shift more of my funds into high ROE and ROIC companies.
Well, I am going to be patient (as advised by a friend Mr Chia F.L. for me to take lesser bats like Warren Buffet) and hold some cash for a better opportunity before I take position.