A couple of months ago I bought JAN15 ITM calls on TLT and have been selling front month calls against it ever since. And today I got an assignment notice. With all of the in month down rolls and out month up rolls I'm up pretty good and still had DEC and JAN to roll for more. And today I got an assignment notice. With all of the rolls I'm 1$ inverted right now but I've collected enough premium to cover the .70 difference in extrinsic value and still have decent profit but....damn. I stood to make another 1-2$ on the next 2 rolls at least.
So once it hits my account I'll be short 100 shares TLT per lot and since I don't have the account size to sustain that I'll have to exercise my JAN15 calls to cover. grrrr. The short calls still had .30 extrinsic value and there is no dividend or anything.
Just venting. I guess I can just re-enter the trade out to APR15 but I'm not real keen going long on this while it's up so much and with a calendar spread with volatility like it is.