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Closed out another HD put for the third time in about a week. This time for about 98% gain in five days. One of my better options weeks in a while with the volatility. Went with a contrarian play for now. USD is up and gold is hated. Gotta have a thesis and mine is we are about to start spending and printing money. Gold has a good enough floor in it after the recent drop. It's not rational right now. It rarely is when the market goes "risk on" mode. Sold GOLD (Barrick) puts from 3-5 weeks out in the 21-21.50 strike range. Average premium is about 3% so that works. Especially since it's intended to be a hedge which I am light on currently. I'll do another round of puts if these get in the money. Gold is barely 1% of my port currently so this is a conservative enough play.
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I'll definitely take a look at that trade you just made. Sounds interesting enough and I definitely need new ideas.
I couldn't grab a conservative LHX put despite my best effort, so I ended up.. you know... doing crazy.
This doesn't belong in a "conservative option trades" thread but I did just sell a U put today. And earnings come in after today's close. Awesome premium, good downside protection ($120 strike) and as you guys and gals know I love the company. I'm just not sure if they will do well enough to justify this pretty insane valuation.
I guess we will know tomorrow.
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Sold a jfrog $55 Feb 19th put for $85.
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My Jfrog put seem to be expiring worthless. Kinda running out of good ideas on puts in this market.
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02-08-2021, 10:56 PM
(This post was last modified: 02-08-2021, 11:01 PM by fenders53.)
It's tougher than it was a week ago. I will get my full list to you but most of them need a down day or two. I almost never sell puts on overbought stocks. It ends bad way too often. BMY looks good here but I don't want to own 1000 shares so no more contracts for me.
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What bmy u looking at? $58 02/26 going for $52
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Sold above BMY out for $54.
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I guess it's time to close short puts again today. Getting harder to find places to redeploy but it's a good problem.