Covered GE Short Puts

by billb 4. November 2008 16:01

I sold some NOV 17.50's in October for ~0.60.  I bought them back for 0.23 after GE's big move up today.  Truth be told, I'm playing for a pull back.  I'm looking to sell either DEC 17.50's or 15's on the pullback, if I'm so lucky to get one.  I have my eye on 0.80 for the 17.50's.  it's a big credit because GE is still very volatile.  Plus it's closer to the money than I typically like to play, but I don't mind owning some GE.

In other news, the short XLF puts and calls that I have were both sitting around 0.09.  If they hit a nickel, I'll buy them back.  I may also consider selling the XLF stock I own for a profit and starting over with short puts again. 

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