I have no idea if GE is going to move through the strike price, but I do know this: the risk/reward is terrible, although I assume you already know that. What are you going to do if the Obama administration announces that they have nationalized all the troubled banks over this weekend? Mark
LOL. This is one for the keeper file. You sold 2,000 contracts and come to ET looking for advice. :eek:
Are these naked? If so, I salute your confidence and the sizes of your balls, as well as your account!
You are looking for trouble. If you want to sell premium do it on an index stock after a selloff. You will not be exposed to one single stock. What size is your account by the way? I could have helped you make money without the risk you exposed yourself to.
That's 200,000 shares,not 2,000 shares. You do understand that I assume. Do you always keep a spare million dollars in your account, just in case you need it for a long-term investment? Mark
If GE is over $5 on Mar. 20th, you're the luckiest man alive. This isn't even like gambling, it's more like choosing to get in front of a firing squad, and praying for a miss. Kiss your a*s goodbye.
No one asked for your help, nor was it needed. This guy needs a lesson on risk management, not how to make money. Mark