GE Put Options

I sold 2,000 put contracts today of the GE March $5 strike at $25/contract for a total of $50,000 in premium collected. I just wanted to get some opinons on if you guys think GE will go below $5 by March 20th.

 

GE has to be one of the worst stocks ever along with DRYS and AA.

 

noob, nobody cares about GE, market will surge, there is no crisis

 

POST A SCREENSHOT or its just BS...which it sounds and smells like...i ll delete this post and apologize to you if you do post a screenshot...to many bs ers here on et though.

 

no you didn't

 

Sure I did.

 

Look at AH trading right now.

I hope you went long 2.5 puts.

 

how much are you out of the money if....let's say GE goes down to $3 by the expiration?

 

I'm hoping that over the next 3 weeks, it stays above $5/share, otherwise, it will turn into a long term investment for me.

 

My screener says 81% probability that it ends up above $5 share, and 19% probability that it goes below.

You do realize that you also need $1 mil in buying power lying around in your account, ready to pay for 200,000 shares of GE at $5? (And if GE does go to $3 at that point... you'll immediately have $400k in unrealized losses?)