Probably by end of the week. Of course when that happens I wouldn't be surprised if it easily goes to 10. I sold my large position at around 12.86 and I'm starting to get in at 11.50.
Shit. I put it an order bid 10.95 in the last hour and at the last few minutes I missed getting filled by 1 cent Big order would keep getting in front of me. Oh well lets see how much lower it can get.
I decided not to order. I did not get filled at 10.95 I put in an order at 10.50 but killed it and all orders. something concerning regarding earnings next week came up on my desk this morning.
(Just trying to help here). If you sell a call, you will be shorting the stock to someone else who bought the call (provided the stock closes at $11 or higher). I trade GE daily, bought as low as 10.59 today. It's back to acting "nomrally" - a good trading stock for sure. Don
True, you have to buy the stock if assigned at 11.00 a share minus the premium or 10.57 a share. If you thought the stock was a good buy at 11 it would be a better buy at 10.57. Obviously this wouldn't be a good plan for day trading but if you wanted to own the stock it would be a great way to get in or collect a small premium. Selling a naked put would be the other option play to get in cheaper than an outright buy.
Naked put, yes. Selling one call, buying 100 shares and having it called away leaves you with zero. In any event, I'm now long the darn thing, hope it gets back up a bit. Don