Taking a gamble on this STEC. It is down $30 points from its 52 week high. Just reported fantastic earnings. The concern is its concentration of customers. There is a possible order from a large customer that may be in jeopardy in the 1st QTR. I am looking to sell the $12.5 puts with Jan 11 expiration, they closed yesterday at $3.8. I was able to sell 5 contracts at $3.6 per contract or $1800. This would put my purchase price at $8.90 if exercised.
Oh and STEC was trade at $14.21 at the time of the sale.
ReplyDeleteNibbled on your STEC naked puts got $3.70 for the same ones. Let's see where this goes. May sell more if the stock makes a higher high tomorrow.
ReplyDeleteI actually ended up selling a few naked puts in the front month on STEC this morning as well. I sold 5 at $0.55 with expiration next week.
ReplyDeleteHow many did you sell?
Just 1... giving it a shot.
ReplyDelete