A couple of weeks ago, I sold ABX Aug 30 PUT at $1.40. Now that ABX has risen, the same PUT has dropped to $0.15bid and $0.25ask. I managed to close this at $0.22. Not too shabby for a two weeks return. Even though % wise may not be that high but I felt ABX was stable and worth the trade.
I was tempted to roll up but the premium is not very attractive at this point of time. Will sit on this.
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Sold C Sept 3 PUT at $0.51. Average of ~8%/month. Quite an attractive premium. This is the first time I traded an option that is longer than one month. Hope a turn around of Citigroup and profit from this trade. Keep my fingers crossed.
ReplyDeleteI think I am getting into the mode that I just need to make some trades every now and then. Instead of sitting on the existing trades to expire at the end of the month, I would probably like to close them if they meet my expectation. From then, I would free up my cash and look for other opportunities.
Yippee.. I closed the C Sept 3 Put today at $0.08. Net 12.5% in a little more than three weeks. Not bad... not bad at all.
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