Will I automatically get assigned stock if my put expires ITM? (An answer from experience)
I'm new to the sub and hoping to add value with a data point towards a question that comes up every now and then.
This past week I sold 2 OTM puts for UAL at 95 and 93. Things were going well then Friday came. EOD Friday UAL takes a sharp dive and goes to 92.85 at the bell. After the bell it starts creeping back up and goes past 93. Right now I'm seeing 91.51 / 94.87 locked in on my Bid/Ask. This morning I was assigned 100 shares on the 95 and the 93 went to expiration.
This is NOT a recommendation to play this way. Just thought I would give anecdotal information towards the question.
I also want to thank the sub. I've been trading for awhile and came up with this trading strategy that I thought was brilliant. I thought, "no way this could work, am I missing something?" Did a quick Google search and found out what I came up with is already a thing and it's called The Wheel. Yes, I reinvented the wheel. lol. Thank you everyone!