CFA4Techie

Well there's a management fee, of course. Then there's the possibility that you should be getting a 2% premium for that option if you sold it yourself and they're keeping the difference. Then there's also the possibility that the firm exercises your option when the price goes low, while selling the same option to someone else, thus pocketing whatever time value is left in the option and leaving you with an exercised put option as per the contract.