Just a quick update as we head into June. We are still very cautious about the balance of the year and continuing to pause in our out of the money (OM) put selling. May 17 expirations came and went with no strikes on our outstanding contracts. We now look forward to option expirations on June 21. We don’t have any contracts striking yet but at least one (WST) is very close. We will keep a close eye on possible strikes and as the expiration date approaches we will decide to either buy to close or buy the stock. Because we have a practice of never selling puts further out than 90 days virtually all our remaining options expire on July 19. That gives us more time to sell some additional real estate to generate more capital to put into our family asset management business. It also gives us more time to get a better perspective of the geopolitical risks here at home and internationally. We will keep you posted on our thinking and how we apply the MYFR strategy as this potentially tumultuous election year advances.
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