Iron ore price, page-2961

Cheers stefans, I must admit even I have become impatient, combined with the up ramping in this forum I even went against my better instinct.
I wrote puts to the tune of like 870k on Friday, I watched the sp float for most the day at around 7-8 cents down, whacked a reluctant order in at strike of 5.75 thinking it may get filled when we see the common further sell down on a Friday arvo ,combined with a further sell down of the futures between 1.30-2pm Perth time which ended up rattling a few nervous people, order got filled, which I’m not entirely comfortable with however I had to do something the month is closing in on me…lol
I would of preferred a strike of 5.50 as this was my original forecast at the start of this month. Plus I like to give myself at least a 30-40 cent margin for error.
Anyway see what happens I guess, if It drops any further i will use remainder of capital to write more premium at lower strikes to hedge against the drop on the 5.75 strike, if I get exercised considering a premium of about 12 cents per share it makes a buy of about 5.63, so not too bad, hopefully it doesn’t drop lower than that, if it looks like dropping after exercise I guess I may just sell some calls to hedge the drop, and then just hang around for the next dividend….geeezzz that would make me a long again…lol

The ideal scenario would be getting exercised then the longs are correct and she goes to 6.50 or even 7???

Who knows guaranteed now that I have put my neck on the line, knowing my luck the sp will drop lower than my 5.50-5.60 forecast??? Time will tell, let’s see what next couple weeks bring??
Regardless still a solid company at the moment if iron ore holds, will it hold though???
I personally still stand by my previous forecast of a slight pull back in ore, what effect it has on fmg sp is another question I guess???
Where is toto when you need him to run some quantitative modelling of exercise probability for me.
Toto if you’re out there mate September put option with 5.75 strike mate???? Personally from a qualitative perspective I think I’m in the running to get exercised this month.