Selling puts on strong stocks

Discussion in 'Journals' started by Miked0801, Feb 17, 2006.

  1. Ok, missed a post yesterday where I bought 10 35.00 puts to turn my bull put into a bear put (debit) spread. Turned out to be a pretty good move with AMD crapping again today into the 33's. I'm just watching now for a technical bottom and have put stops against my top put to prevent erotion.

    So, positions right now:

    Long 1000 shares AMD
    Short 10 AMD 32.50 calls (a Sythetic 32.50 short put)

    Long 10 AMD 30.00 Apr puts
    Long 10 AMD 35.00 Apr puts.

    If this thing drops to 32.50 like it did last time (or even to 33.00), I'll have made up from last month's disaster.
     
    #41     Mar 28, 2006