A PUT SPREAD
A lot of my colleagues are saying that Apple stock will go over $300 a share by the end of the third quarter. One analyst has predicted $400 a share. With all of that hype I decided to try to benefit from this by writing a put spread on Apple. So when the stock was around $260 I sold 20 puts of the Oct 260’s for about $46,000, and bought 20 puts of the Oct 250’s (to protect me against a loss greater than $9,000) for about $37,000. (See “Merv’s Trades”). This means that...
Readmore...AND YOU LOSE A FEW
When the BP oil spill happened, the stock dropped like a bomb. BP is a really big company, so I figured that they would fix the leak quickly and the stock would go back up. So I sold puts on both BP and RIG, the two companies most affected. By selling puts, I agreed to purchase the stock at a certain price. In the case of RIG that price is $60. In the case of BP that price is $47.50. (see Merv’s Trades for details). As is so often the case—I was probably right, but there’s the question of timing. In fact,...
Readmore...YOU WIN A FEW! YOU L ...
I get emails from several web sites that promote options. It seems to me they always make a profit. When I see that I know that they are not reporting honestly. So when you look at merv's trades, you will usually see some loss positions. But one area where we have not lost in a long time, overall, is in our SPY spreads. If you have been following our trades you have seen a profit of almost $2,200 from the current sequence so far since we started on April 1st. Here are the trades: 4/1. Bt...
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