The same Q trade. Two very different outcomes.


Q: about $585 today. ATH was $637.
1 month put at $555 strike:
Premium collected: ~$380.
Cash needed if cash secured: $55,500 sitting idle.
Margin of safety: ~5%.
EPS tailwind: none.
Need 10 trades in a row just to match the alternative.
1 year put at $525 strike:
Premium collected: ~$3,800.
Cash needed: $0. Portfolio is the collateral.
Margin of safety: ~10%.
EPS tailwind: 12 months of growth working for you.
Take the $3,800.
Buy Q shares & LEAPS.
Every dollar working.
Q at $525 in 1 year would be historically cheap.
That assignment is fine.
Portfolio secured put wins again.
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