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Author: kcanant Three stars, 500 posts Old School Fool CAPS All Star Most Active, Foolanthropy 2013 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 14780  
Subject: Re: USG puts Date: 12/5/2012 7:50 PM
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Just my two cents. Maybe worth less than that.

Thus far, worth quite a bit more than that.
I am a shameless coat-tailer.
STX, SAN, and BAC shares are doing OK,
and the written puts keep expiring.

Looking at CHK, "standard procedure"* would suggest that
I look at ITM puts 3-6 months out (eg. April).
Is that more-or-less correct?


*Lifted form an old post:
I tend to go for first, second, or third in-the-money
(ITM) strike and usually 3-6 months out.
Each time an option is assigned, I simply sell the stock and write more.
Each time an option expires, I replace it with a fresh one.
In either case my breakeven cost gradually gets ratcheted down.

Thanks,
kcanant
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