Cash secured puts

To my surprise, 2 of my 3 puts executed. I picked up some ATT at 35/share and some GLW at 11.75/share. It did not occur like I thought it would though...they executed on the last day of the option before it would have expired worthless, at a price lower than my strike price. In other words, I bought the stocks at a price higher than they were actually selling for! Live and learn-although GLW is now in the green for me thanks to a 7% pop, next time I will be more cautious. And since ATT is sitting there getting 5+% as a long term dividend growth stock, I feel that waiting for it to come back is not such a bad deal.

Market correction-canary in the coal mine?

Hi and welcome back. The re-election of Obama has occurred and we are witnessing a pullback that is not unexpected. The fiscal cliff approaches but is it just a harbinger of greater tribulations to come? The market has lost 5% since 11/5. Increasing tax rates on the wealthy will probably trigger the big money to sell, causing more lowering of share prices. A recession is likely in 2013 some say. Those with significant exposure to stocks could consider raising cash by selling some of their holdings in momentum, housing and industrials. I will be leaving my core holdings as they are. My intent is to never sell them unless there is a change in the company fundamentals. The others such as F, GLW, ARNA will be considered for covered calls or will br a sell at the right price.