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Thank you for the advice. I will continue to watch and see where SIG goes. Now I have a strategy.
Dana
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You could buy a put with a strike at Signet's current market price to limit any further losses, though this will of course cost money for such insurance. The purchased put will increase in value at the same rate as your sold put, offsetting further losses.

If Signet's stock price doesn't increase beyond its current $26 there's no way to recover your current loss on the put you sold though.


Mike
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Thank you for the advice. I will continue to watch and see where SIG goes. Now I have a strategy.
Dana
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