A great month for bond replacement investments! Microsoft and Qualcomm both reported strong numbers and their stock prices shot up, quickly draining time value from the puts / covered calls we sold on them. The leader of the pack, however, was Synchrony Financial (SYF), a short put on which generated an annualized return of a better than expected 93.4%.

See also our Commentary article about these results and feel free to download this spreadsheet and reuse it to help you keep track of your own bond replacement investments.