Iron ore price, page-52602

Ah that's nothing, just a bit of rounding noise re $22.50 puts vs $21.90 spot. If they don't let you sell naked just buy a low strike put for a few cents to keep everyone happy... makes little difference.

i do have sold puts thrown around the place, but in principle I always have cover and it often pays off.

On FMG I recently had July $24.50 sold and $22.50 purchased puts... Well on the recent crash I can cash out the $22.50's and buy lower, roll the $24.50's down (very little time value left) to $22.50 and collect 2x the premium for July. Sure it was for a loss but it's heavily subsidised by the above mention factors.