| So far, MNTA has been like a piggy bank. The 12.50 calls always pay off, just aquestion of how much. From your spread standpoint, other than the big kaboom when all stocks were down, it hasn't been below $8.50. So your spread looks pretty safe. Probably very safe:
--- On Wed, 12/23/09, Dave Johnson <djohnsonhot@ yahoo.com> wrote:
From: Dave Johnson <djohnsonhot@ yahoo.com>
Subject: [ConservativeOption Strategies] MNTA Trade
To: ConservativeOptionS trategies@ yahoogroups. com
Date: Wednesday, December 23, 2009, 6:28 AM
I placed a VERTICAL BULL PUT SPREAD trade on MNTA instead.
Gained a credit of 35 cents. Theta decay is my hope as usual on a Credit Put Spread.
SOLD JAN $7.50 (QMPMU)
BUY JAN $5.00 (QMPMA)
Credit of 35 cents, on 10 contracts, $350 less commish. Hoping for a hold above the higher strike of $7.50. Stop loss at $7.20 underlying issue.
I see some support at $9.35 to $9.40 and also at $8.45 to $8.50. Hopeful that support holds and the spread will expire worthless.
I am playing a ton of CREDIT SPREADS on the put side as THETA is my friend.
Dave
p.s. Sorry, I am new to the forum and have been trading options for 10 years.
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