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Hi Guys;

I started with MF Options a few months back and I'm just now coming up on my first actionable closings and I have a question regarding the GES Mar12 $38Puts.

I wrote puts per the recommendation and am up almost the entire amount. I sold them for $2.05 and as of Friday they were at $0.02.

Since the stock at $35.94 is worth less than the $38 strike put I'm assuming that I'm likely to be assigned?

My question is how should I play this?

The other trade question concerns BBY covered calls. I was thinking of rolling up and out to the Jun12 $26call at a net credit of $0.20. Any thoughts on this one?

Thanks for any advice.
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What did you decide to do?

Curious in light of the after hours earnings moving the stock lower...

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By now you may have realized that MFO has its own boards.
However, you found out that "writing" puts at a strike higher than the stock price does not get assigned, but just expires, leaving you with the premium you were paid entirely profit. Congratulations!, and spend a few minutes reading the Options Handbook.
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